profit from every ₹100 of sales.
₹0₹100
Indian Oil
₹146.80+1.10% today
-10.3% in 1 year
1-year low ₹125.701-year high ₹187.55
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2023 to 2026.
0%20% a year
You pay ₹4.92 for every ₹1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Indian Oil sold, what it kept, and what it did with the cash.
Sales went from ₹8.28 trillion in 2023 to ₹7.84 trillion in 2026, with ₹421 billion of profit last year.
SalesProfit
Indian Oil handed back 29% of the cash it generated last year.
₹137.0B
Free cash flow 2026₹477.8B
Bought back its own shares–
Paid as dividends₹137.0B
Cash vs. debt₹18.3B vs. ₹1.32T
Indian Oil vs. similar companies
Indian Oil grows the slowest of these 5 and is the cheapest for its profits.
| Company | Profit from ₹100 of sales | Sales growth a year | Price per ₹1 of profit |
|---|---|---|---|
| Indian Oil | 4.9× · Cheap | ||
 Reliance Industries | 22.2× · Fair price | ||
 Marathon Petroleum | 26.2× · Fair price | ||
 Valero Energy | 42.4× · Expensive | ||
 Phillips 66 | 22.4× · Fair price |
AI analysis
An AI analyst reads Indian Oil's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 8,275,473 | 7,728,421 | 7,581,058 | 7,844,154 | |
| 560,498 | 1,059,943 | 845,430 | 1,328,714 | |
| 259,136 | 613,447 | 194,300 | 597,771 | |
| 348,659 | 807,377 | 430,995 | 842,002 | |
| 97,921 | 417,297 | 135,978 | 420,963 | |
| 7.11 | 30.30 | 9.87 | 30.57 | |
| 6.8% | 13.7% | 11.2% | 16.9% | |
| 3.1% | 7.9% | 2.6% | 7.6% | |
| 1.2% | 5.4% | 1.8% | 5.4% |
Balance sheet
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Total assets | 4,417,185 | 4,823,620 | 5,068,671 | 5,289,550 |
| Cash | 9,964 | 12,466 | 6,732 | 18,331 |
| Total debt | 1,489,771 | 1,326,276 | 1,522,707 | 1,318,224 |
| Total liabilities | 2,985,041 | 2,941,990 | 3,158,424 | 3,034,079 |
| 1,397,202 | 1,834,163 | 1,864,873 | 2,195,176 | |
| 13,772 | 13,772 | 13,777 | 13,770 | |
| 5.9% | 16.2% | 6.1% | 14.8% | |
| 7.0% | 22.8% | 7.3% | 19.2% |
Cash flow
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 296,437 | 711,464 | 344,524 | 761,421 | |
| 328,495 | 371,754 | 349,673 | 283,627 | |
| -32,058 | 339,711 | -5,149 | 477,794 | |
| Dividends paid | 33,057 | 109,726 | 95,451 | 137,020 |
| – | – | – | – | |
| – | – | – | – |
Valuation
- 4.9×
- –
- 0.08
- 0.9×
- 0.3×
- 4.3×
- 4.0×
- 23.0%
- 20.3%
- 6.6%
Profitability
- 16.9%
- 7.6%
- 5.4%
- –
- 14.0%
- 10.2%
- –
- –
- –
- –
Growth
- −1.8%
- +62.6%
- –
- –
- −0.0%
Financial health
- 1.5×
- 0.60
- –
- 7.9×
- 0.74
- –
- –
How it ranks in Energy
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 16%of 465
Bottom 35%of 462
Top 4%of 383
Bottom 43%of 457
Top 5%of 458
6.6%of the share price, paid each year
On $1,000 invested$66a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
32.5% of its profit
Room to growStretchedMore than it earns: 28.7%
News
India pushes back after U.S. bars Microsoft, Indian firms from Visa programSeeking Alpha · Oct 9, 2026'Real boss of India?': Elon Musk takes aim at Indian billionaire Ambani as Starlink launch stallsCNBC · Oct 9, 2026Elon Musk blames Indian 'oligarchs' for stalling Starlink launchCNBC · Oct 8, 2026The Indian billionaire investing in Trump's refinery project is also buying more Venezuelan crudeCNBC · Oct 8, 2026Two Indian nationals charged with smuggling counterfeit Ozempic from China: DOJCNBC · Sep 29, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
3/7Passes 3 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
57No pass
Benjamin Graham
80Pass
Philip Fisher
54No pass
Peter Lynch
77Pass
Joel Greenblatt
68Pass
Charlie Munger
40No pass
Terry Smith
38No pass
Questions about Indian Oil
Is Indian Oil a good stock to buy?
A business with weak numbers, and the price looks low. 3 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Indian Oil AI analysis
What does Indian Oil do?
Indian Oil Corporation Limited, together with its subsidiaries, engages in the oil, gas, petrochemicals, and alternative energy source businesses in India and internationally. It operates through Sale of Petroleum Products, Sale of Petrochemicals, Sale of Gas, and Other segments. It is in Oil & Gas Refining & Marketing, based in New Delhi, India.
Does Indian Oil pay a dividend?
Yes. At today's price the dividend is 6.6% a year, about 33% of its yearly profit. In 2026 it paid out ₹137 billion in dividends.
Is Indian Oil stock halal?
No. Indian Oil does not pass our halal screen: its debt is 64% of its market value, at or above the 33% limit. How we check
How has Indian Oil stock done over the past year?
Down 10.3% over the past twelve months, to ₹146.80. It traded between ₹125.70 and ₹187.55 and is 21.7% below its high.
Who are Indian Oil's competitors?
The largest listed companies in the same industry are Reliance Industries, Marathon Petroleum, Valero Energy and Phillips 66. The peers table on this page compares their profit, growth and price with Indian Oil's.
Prices: daily closes to Nov 9, 2026. Fundamentals: company reports via invest-like data.