OIL
Oil India share price & financials
- Price
- ₹418.15
- Market cap
- ₹76.8k Cr
- Sector
- Oil, Gas & Consumable Fuels
- Calls analysed
- 6
Oil India Q1 FY27
What went well
- Standalone operating revenue for Q1 FY27 was INR 7,958 crores, the highest ever quarterly revenue earned by Oil India Limited since its listing.
- Achieved the highest ever EBITDA of INR 4,605 crores in Q1 FY27, with a margin of 54%+ compared to 34%+ in the previous year.
- Reported the highest ever PAT of INR 2,870 crores for Q1 FY27, a substantial increase from INR 813 crores in the previous year.
What to watch
- Gas production saw an 8% year-on-year decrease due to shutdowns by downstream industries (BCPL) and seasonal factors (tea gardens, NEEPCO preferring hydro power).
- Monetization challenges for gas persist due to evacuation bottlenecks, though new pipelines are expected to alleviate this by FY28-29.
What Oil India does
Oil India Limited (OIL) is a Maharatna central public sector enterprise engaged in the exploration, development and production of crude oil and natural gas, primarily concentrated in the North East (Assam, Arunachal Pradesh) but with acreage across 8 sedimentary basins in India and 6 upstream assets in 5 other countries. It earns by selling the crude oil and natural gas it produces, and extends this into midstream crude/gas/product pipelines and downstream refining and petrochemicals through group entities. The group has diversified into city gas distribution, CNG retailing, fertiliser manufacturing and new-energy ventures (solar, wind, green hydrogen, bio-ethanol, critical minerals) through subsidiaries and joint ventures.
Segments
- Upstream — Domestic
- Upstream — International
- Midstream
- Downstream
- New Energy
- Operated exploration/production blocks (India)
- 63
- Acreage under operated blocks
- 93,061 sq. km (1,06,481 sq. km including non-operating blocks)
- Sedimentary basins with presence
- 8
- International upstream assets
- 6 assets across 5 countries
- 2P crude oil reserves
- 69 MMT (domestic) + 21 MMT (international)
- 2P natural gas reserves
- 121 MMTOE (domestic) + 20 MMTOE (international)
Guidance record · Q1 FY27
what the last two calls moved 23 tracked 1 delivered 4 missed 18 open- Paradip-Numaligarh Pipeline Commissioning delayed said Q4 FY25 Promised: October 2025 Q1 FY27: Mechanical completion targeted for October, commissioning by December 2026.
- FY26 Standalone Capex delivered said Q1 FY26 Promised: INR 6,995 crores Q4 FY26: Final capex for FY26 was INR 13,025 crores, significantly higher than all previous guidance.
- FY26 Crude Oil Production missed said Q1 FY26 Promised: 3.70 MMT Q4 FY26: Achieved 3.45 MMT vs revised target of 3.55 MMT.
All 23 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 57.7%, net profit up 96.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,247 | 8,337 | 8,808 | 7,929 | 8,394 +16% | 8,330 −0% | 9,293 +6% | 12,503 +58% |
| EBITDA | 2,536 | 2,542 | 2,588 | 2,351 | 2,303 −9% | 2,287 −10% | 3,281 +27% | 5,793 +146% |
| Net profit | 2,069 | 1,457 | 1,497 | 2,047 | 1,644 −21% | 1,436 −1% | 2,424 +62% | 4,027 +97% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +25.4% 1Y
1Y: ₹390.7 on 10 Sept 2025 → ₹489.8. High ₹518.3 (15 May 2026), low ₹390.7 (10 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- +2.3%
- 10 Aug
- Q4 FY26
- −2.4%
- 29 May
- Q3 FY26
- −2.0%
- 11 Feb
- Q2 FY26
- −0.1%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 2.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 30.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹36.1k Cr | ₹32.5k Cr | ₹32.5k Cr | ₹33.9k Cr |
| Operating profit | ₹14.8k Cr | ₹12.4k Cr | ₹10.8k Cr | ₹10.2k Cr |
| Operating margin | 41.0% | 38.3% | 33.2% | 30.1% |
| Interest | ₹901 Cr | ₹963 Cr | ₹1.1k Cr | ₹1.2k Cr |
| Depreciation | ₹1.9k Cr | ₹2.1k Cr | ₹2.3k Cr | ₹2.7k Cr |
| Net profit | ₹9.9k Cr | ₹7.0k Cr | ₹7.0k Cr | ₹7.6k Cr |
| Net margin | 27.3% | 21.5% | 21.7% | 22.2% |
| Cash from operations | ₹11.4k Cr | ₹10.9k Cr | ₹11.3k Cr | ₹10.7k Cr |
| Free cash flow | ₹2.9k Cr | ₹-1.1k Cr | ₹-1.6k Cr | ₹2.1k Cr |
| ROCE | 25.0% | 18.0% | 13.0% | 12.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1.1k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.6k Cr | ₹1.6k Cr |
| Reserves | ₹22.6k Cr | ₹29.5k Cr | ₹37.4k Cr | ₹47.3k Cr | ₹54.6k Cr | ₹56.4k Cr |
| Borrowings | ₹19.7k Cr | ₹16.7k Cr | ₹18.8k Cr | ₹24.0k Cr | ₹35.9k Cr | ₹37.5k Cr |
| Other liabilities | ₹12.2k Cr | ₹13.8k Cr | ₹16.9k Cr | ₹20.1k Cr | ₹24.8k Cr | ₹28.4k Cr |
| Total liabilities | ₹55.5k Cr | ₹61.1k Cr | ₹74.2k Cr | ₹92.5k Cr | ₹116.9k Cr | ₹123.8k Cr |
| Fixed assets | ₹16.0k Cr | ₹16.8k Cr | ₹18.1k Cr | ₹20.5k Cr | ₹24.7k Cr | ₹28.3k Cr |
| Capital work in progress | ₹3.2k Cr | ₹5.9k Cr | ₹12.0k Cr | ₹20.0k Cr | ₹32.7k Cr | ₹37.6k Cr |
| Investments | ₹24.0k Cr | ₹27.1k Cr | ₹27.9k Cr | ₹34.5k Cr | ₹36.9k Cr | ₹36.8k Cr |
| Other assets | ₹12.4k Cr | ₹11.3k Cr | ₹16.2k Cr | ₹17.5k Cr | ₹22.6k Cr | ₹21.2k Cr |
| Total assets | ₹55.5k Cr | ₹61.1k Cr | ₹74.2k Cr | ₹92.5k Cr | ₹116.9k Cr | ₹123.8k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +1.72 pp while FIIs trimmed −0.88 pp. The shareholder count shrank 11% to 4,57,085.
- Promoters
- 56.7%
- FIIs
- 7.3%
- DIIs
- 20.1%
- Government
- 9.9%
- Public
- 6.1%
Since Jun 2025
- DIIs +1.72 pp
- FIIs −0.88 pp
- Public −0.85 pp
How it drifted, 12 quarters
Over this window DIIs went from 15.9% to 20.1% — +4.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 56.7%, FIIs 11.3%, DIIs 15.9%, Government 9.9%, Public 6.3%.Dec '23: Promoters 56.7%, FIIs 11.0%, DIIs 16.0%, Government 9.9%, Public 6.5%.Mar '24: Promoters 56.7%, FIIs 9.5%, DIIs 17.7%, Government 9.9%, Public 6.3%.Jun '24: Promoters 56.7%, FIIs 9.3%, DIIs 17.9%, Government 9.9%, Public 6.2%.Sep '24: Promoters 56.7%, FIIs 10.6%, DIIs 16.4%, Government 9.9%, Public 6.5%.Dec '24: Promoters 56.7%, FIIs 9.4%, DIIs 17.3%, Government 9.9%, Public 6.8%.Mar '25: Promoters 56.7%, FIIs 8.5%, DIIs 18.3%, Government 9.9%, Public 6.7%.Jun '25: Promoters 56.7%, FIIs 8.2%, DIIs 18.4%, Government 9.9%, Public 6.9%.Sep '25: Promoters 56.7%, FIIs 7.6%, DIIs 19.2%, Government 9.9%, Public 6.7%.Dec '25: Promoters 56.7%, FIIs 7.5%, DIIs 19.4%, Government 9.9%, Public 6.5%.Mar '26: Promoters 56.7%, FIIs 7.7%, DIIs 19.4%, Government 9.9%, Public 6.4%.Jun '26: Promoters 56.7%, FIIs 7.3%, DIIs 20.1%, Government 9.9%, Public 6.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- LICI New Pension Plus Growth Fund Insurer newly disclosed 8.08% held
- ICICI Prudential Smallcap Fund Mutual fund newly disclosed 1.79% held
- NPS Trust A/C UTI Pension Fund Limited-Scheme Cent Pension / PF newly disclosed 1.16% held
- Nippon Life India Trustee Ltd-A/C Nippon India Mul Mutual fund newly disclosed 1.02% held
The same filing shows 0 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Oil India above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| President Of India | 56.66% | unchanged |
| LICI New Pension Plus Growth Fund Insurer | 8.08% | newly disclosed |
| Indian Oil Corporation Limited | 4.93% | unchanged |
| Hindustan Petroleum Corporation Limited | 2.47% | unchanged |
| Bharat Petroleum Corporation Ltd | 2.47% | unchanged |
| ICICI Prudential Smallcap Fund Mutual fund | 1.79% | newly disclosed |
| DSP Multi Asset Allocation Fund Mutual fund | 1.28% | unchanged |
| NPS Trust A/C UTI Pension Fund Limited-Scheme Cent Pension / PF | 1.16% | newly disclosed |
| Nippon Life India Trustee Ltd-A/C Nippon India Mul Mutual fund | 1.02% | newly disclosed |
| Life Insurance Corporation Of India Insurer | — | off the list |
| ICICI Prudential Infrastructure Fund Mutual fund | — | off the list |
| NPS Trust A/C - SBI Pension Fund - Ups - Cg Schem | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in OIL
Filings to Aug 2026
0 new, 10 added, 2 trimmed, 0 sold out — net −10.12 L shares (−3.7%).
- Held by funds
- ₹1.3k Cr
- 17 schemes
- Biggest holder
- CPSE ETF
- ₹749 Cr · 3.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| CPSE ETF Nippon India Mutual Fund | ₹749 Cr | +0.18 L | Jan '19 |
| SBI Multi Asset Allocation Fund SBI Mutual Fund | ₹119 Cr | held | Feb '26 |
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹105 Cr | −12.00 L | Jul '25 |
| SBI Dividend Yield Fund SBI Mutual Fund | ₹97 Cr | held | Nov '24 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹80 Cr | held | Dec '22 |
| SBI Comma Fund SBI Mutual Fund | ₹38 Cr | held | Feb '24 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹25 Cr | +0.31 L | Mar '19 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹18 Cr | +0.07 L | Feb '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
10 added, 2 trimmed — net −10.12 L shares (−3.7%)
- Funds are sitting on
- +15%
- vs est. average cost
- Held by funds
- ₹1.3k Cr
- 17 schemes · ≈ 1.4% of the company
- Biggest holder
- CPSE ETF
- ₹749 Cr · 3.9% of that fund
Shares held by these funds +4%
Aug '23 2.60 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Oil India
Guides on how to read this kind of business and the numbers that matter.