Oil India shares rallied 3.21% to ₹455.15 in Monday morning trading, marking a significant turnaround from the previous session's decline. According to Business Standard, the stock opened at ₹450 and touched an intraday high of ₹462.45, with trading volume reaching 41.01 lakh shares worth ₹186.55 crore in early trade. The rally came after the state-owned explorer posted its highest-ever standalone quarterly profit of ₹2,870.21 crore for Q1 FY27, representing a 252.83% year-on-year increase from ₹813 crore in Q1 FY26. The stock currently trades well below its 52-week high of ₹531 hit in May 2026, with sell orders outpacing buy orders at 56.77% of total order quantity suggesting some profit-booking despite the broader upward movement.
For Q1 FY27, Oil India reported consolidated profit after tax of ₹3,629.79 crore, up 91.40% year-on-year, with net sales rising 57.70% to ₹1,250 crore on a consolidated basis. As reported by Business Standard, the company's standalone revenue from operations jumped 58.77% YoY to ₹7,958.05 crore, significantly exceeding market expectations. The company's standalone EBITDA before dry-well write-offs reached ₹43.4 billion, beating JM Financial's estimate of ₹32.6 billion and street consensus of ₹37.1 billion. Crude oil output rose 11% to 0.950 MMT, while subsidiary Numaligarh Refinery Ltd posted 167% PAT growth to ₹1,305 crore with a gross refining margin of $35.95/bbl. The company achieved its highest-ever daily crude oil production of 10,921 tonnes (84,109 barrels) on June 27, 2026, demonstrating operational excellence across its production portfolio.
Motilal Oswal Financial Services maintained a Neutral rating with a current market price of ₹441, acknowledging the operational beat while noting that gas sales volumes were 11% below estimate at 0.62 bcm. However, JM Financial was more bullish, reiterating a Buy rating with a revised target price of ₹560, raised from ₹550. As reported by The Hindu BusinessLine, analyst Dayanand Mittal cited the standalone EBITDA beat and raised FY27 PAT estimates by 8%. JM described it as a 15-20% EPS compounding story over three to five years, driven by NRL's refinery expansion from 3 to 9 mmtpa and crude output growth. The brokerage noted that Oil India is trading at 6.9x FY28 consolidated earnings, pricing in crude realisation of only USD 55-60/bbl against current levels closer to USD 99/bbl.
For the quarter-ending March 2026, Oil India reported consolidated revenue of ₹9,795.02 crore, representing an increase from ₹8,986.64 crore in the corresponding quarter of the previous year. As reported by Moneycontrol, the consolidated net profit for Q3 FY26 stood at ₹2,424.46 crore, compared to ₹1,435.89 crore in Q3 FY25. The company's Earnings Per Share (EPS) for Q3 FY26 was ₹40.27, up from ₹37.59 in the same quarter last year. According to the quarterly financial data, the company showed consistent growth with revenue increasing from ₹7,928.66 crore in Q2 FY26 and ₹8,394.11 crore in Q1 FY26. The company also reported operating profit of ₹3,119.13 crore in March 2026, compared with ₹1,909.98 crore in December 2025, representing an increase of 63.31% on a quarter-on-quarter basis.
