Indian Oil Corporation Reports Q1 FY27 Results: Operation Revenue Surge to ₹2,81,933 Crore Amidst Margin Pressures

Indian Oil Corporation Limited (IOCL), the state-owned energy conglomerate headquartered in Mumbai, has published its unaudited consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27). The company reported top-line expansion driven by high demand across its core operating business segments, alongside bottom-line pressure from rising raw material input costs.

Top-Line Growth and Income Trends

For the quarter ended June 30, 2026, IndianOil reported revenue from operations of ₹2,81,933.07 crore. This represents a 27.08% year-over-year increase compared to ₹2,21,849.02 crore recorded in Q1 FY26, as well as a 19.01% sequential rise over ₹2,36,899.33 crore in Q4 FY26.

Including other income of ₹445.95 crore (down from ₹1,774.96 crore in Q4 FY26 and ₹583.25 crore in Q1 FY26), total consolidated income for Q1 FY27 reached ₹2,82,379.02 crore.

Expenditure and Margin Structure

Total consolidated expenses for the quarter expanded to ₹2,84,008.74 crore, compared to ₹2,14,830.24 crore in Q1 FY26 and ₹2,19,532.56 crore in Q4 FY26.

Key expenditure components included:

Cost of Materials Consumed: Elevated significantly to ₹1,95,317.95 crore (vs. ₹1,10,846.61 crore in Q4 FY26 and ₹1,09,450.80 crore in Q1 FY26).

Purchases of Stock-in-Trade: Rose to ₹71,833.62 crore (vs. ₹47,904.81 crore in Q1 FY26).

Excise Duty: Stood at ₹15,525.79 crore (down from ₹29,508.37 crore in Q1 FY26).

Changes in Inventories: Recorded at ₹(21,590.18) crore compared to ₹5,617.32 crore in Q1 FY26.

Employee Benefits Expense: Came in at ₹2,592.11 crore (vs. ₹3,068.11 crore in Q1 FY26).

Finance Costs: Reduced to ₹1,729.53 crore from ₹2,070.05 crore in Q1 FY26.

Depreciation, Amortization, and Impairment: Stood at ₹4,408.15 crore.

Other Expenses: Totaled ₹13,036.14 crore.

Operating margin for the quarter was recorded at 0.12%, compared to 4.61% in Q1 FY26 and 8.40% in Q4 FY26.

Profitability and Net Performance

Higher input costs impacted profitability for the quarter. The company posted a loss before tax and share of associates/joint ventures of ₹1,629.72 crore. After factoring in ₹697.13 crore as the share of profit from associates and joint ventures, the consolidated loss before tax stood at ₹932.59 crore (compared to a profit before tax of ₹8,750.48 crore in Q1 FY26).

Total tax expenses for Q1 FY27 totaled ₹208.50 crore (comprising current tax of ₹510.58 crore and deferred tax credit of ₹329.20 crore). Net loss after tax for the quarter was ₹1,141.09 crore.

Net loss attributable to equity holders of the parent stood at ₹1,630.74 crore (against a net profit of ₹6,813.71 crore in Q1 FY26), while non-controlling interests accounted for a profit of ₹489.65 crore.

Total comprehensive loss attributable to equity holders of the parent came in at ₹5,423.98 crore, impacted by other comprehensive losses. Basic and diluted earnings per share (EPS) for the quarter were ₹(1.18) per share (face value of ₹10 each).

Business Segment Operational Breakdown

Petroleum Products

Segment Revenue: ₹2,64,200.61 crore (vs. ₹2,08,335.40 crore in Q1 FY26).

Segment Results: Reported a loss before tax and interest of ₹1,705.02 crore, compared to a profit of ₹9,070.29 crore in Q1 FY26.

Segment Assets: ₹3,99,973.56 crore.

Petrochemicals

Segment Revenue: Increased to ₹9,516.94 crore (vs. ₹6,764.10 crore in Q1 FY26).

Segment Results: Rebounded to a profit of ₹216.85 crore (against a loss of ₹1.02 crore in Q1 FY26).

Segment Assets: ₹49,886.41 crore.

Gas Business

Segment Revenue: Expanded to ₹14,481.49 crore (vs. ₹10,309.28 crore in Q1 FY26).

Segment Results: Stood at ₹526.05 crore, recovering sequentially from a loss of ₹1,145.26 crore in Q4 FY26.

Segment Assets: ₹14,868.26 crore.

Other Business Activities

Segment Revenue: Reached ₹2,047.88 crore (vs. ₹1,215.28 crore in Q1 FY26).

Segment Results: Profit increased to ₹624.57 crore.

Segment Assets: ₹17,432.73 crore.

Balance Sheet and Financial Ratios

Net Worth: Stood at ₹2,14,093.42 crore as of June 30, 2026.

Paid-Up Equity Share Capital: Remained at ₹14,121.24 crore (Face Value ₹10 per share).

Debt-Equity Ratio: Stood at 0.69 times (compared to 0.53 times at the end of FY26).

Interest Service Coverage Ratio (ISCR): Measured at 2.59 times.

Debt Service Coverage Ratio (DSCR): Measured at 1.02 times.

Current Ratio: Stood at 0.76 times.

Total Assets: Expanded to ₹5,58,306.61 crore from ₹5,28,954.96 crore as of March 31, 2026.

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 140.15 as compared to the previous close of Rs. 139.95. The total number of shares traded during the day was 627175 in over 6409 trades.

The stock hit an intraday high of Rs. 140.70 and intraday low of 138.75. The net turnover during the day was Rs. 87817509.00.

Source : Equity Bulls

Keywords

IndianOilCorporation INE242A01010 Q1FY27 Q1FY2027 ResultUpdate