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Oil India Limited (OIL) is a Navratna PSU and the second largest national oil and gas company in India. It is engaged in exploration, development, production, transportation of crude oil and natural gas, and production of LPG. OIL operates in multiple states across India and has overseas interests in countries like Libya, Gabon, Nigeria, USA, Mozambique, Russia and Bangladesh. The company has a stake in Numaligarh Refinery Limited and Brahmaputra Cracker and Polymer Limited. OIL owns and operates a 1157 km automated crude oil pipeline and is involved in renewable energy projects. The Indian government holds 56.66% of OIL's equity. The company has made several oil and gas discoveries, acquired new exploration blocks, and is pursuing initiatives in green hydrogen and city gas distribution networks.
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Company insights, generated from the most recent coverage.
Oil India trades at PE of 12.34x and P/B of 1.56x, offering reasonable valuations given crude tailwinds and 25% projected production growth over next 1-3 years.
Oil India's stock price shows a strong 0.67 correlation coefficient with crude oil prices, making it a direct proxy for oil price movements.
Oil India's production has experienced a steady long-term decline due to aging Assam fields, limiting its ability to fully capitalize on higher crude prices through volume growth.
The Quarter story
The two most recent quarterly results, compared side-by-side.
Oil India delivers strong profit growth on higher crude prices and refining margins, while natural gas output faces steady decline.
Consolidated revenue grows from ₹8,750 Cr in Q1 FY26 to ₹12,886 Cr in Q1 FY27, driven by higher volumes and prices.
Natural gas output falls from 0.83 MMTOE in Q1 FY26 to 0.757 MMTOE in Q1 FY27, indicating field depletion.
Crude realized price jumps from $62.8 in Q3 FY26 to $98.7 in Q1 FY27, boosting segment margins.
Market capitalization retreats from ₹79 in Q3 FY26 to ₹72 in Q1 FY27, showing investor consolidation despite strong earnings.
Gross refining margin expands from $5.02 in Q1 FY26 to $35.95 in Q1 FY27, reflecting stronger downstream economics.
Consolidated EBITDA more than doubles from ₹2,943 Cr in Q3 FY26 to ₹6,322 Cr in Q1 FY27, highlighting robust cash generation.
Pipeline revenue grows steadily from ₹157 Cr in Q1 FY26 to ₹184 Cr in Q1 FY27, reflecting consistent tariff collections.