DBT Bureau
Pune, 25 Nov 2025
Indian Oil Corporation’s stock showed steady strength through November, trading mostly in the ₹165–₹173 range and reflecting sustained post-result momentum. After opening the month at around ₹167–₹169, the stock gradually climbed, touching levels above ₹171–₹173 between November 13 and 18 following strong investor sentiment. Prices remained firm through mid-November, supported by improved earnings visibility and healthy market participation. Toward the later part of the month, the stock hovered between ₹165 and ₹169, with the latest closing near ₹164–166 by November 24. Overall, IOC shares demonstrated resilience and stability throughout the month, maintaining elevated levels compared to early November and reinforcing investor confidence after strong quarterly results.
Performance of IndianOil for H1 2025-26 (Standalone)
- Highest ever H1 sales volumes of 50.590 MMT (H1 24-25: 48.213 MMT).
- Company’s domestic petroleum sales volume increased by 4.0% over H1 24-25 as against 3.9% of the industry.
- Increase in HSD-Institutional sales volume by 35.7% over H1 24-25 as compared to increase in industry volume by 12.8%.
- Increase in domestic petrochemical sales volume by 5% (H1 25-26: 1.544 MMT, H1 24-25: 1.474 MMT)
- Highest-ever quarterly gas sales volume of 1.840 MMT achieved in Q2 25-26.
Refineries throughput for H1 25-26 is 36.292 MMT with 103% capacity utilisation as compared to 34.906 MMT in H1 24-25 improving by 4%. IndianOil’s cross country pipelines achieved throughput of 50.343 MMT in H1 25-26 as compared to 49.796 MMT in H1 24-25 improving by 1%.
The gross refining margin (GRM) for H1 25-26 is $ 6.32 per bbl as compared to $ 4.08 per bbl in H1 24-25 and normalised GRM for H1 25-26 is $ 7.89 per bbl as compared to $ 2.97 per bbl in H1 24-25.
IndianOil reported Revenue from Operations of ₹4,21,600 crores in H1 25-26 as compared to ₹4,11,138 crores in H1 24-25. The Net Profit for H1 25-26 is ₹13,299 crores as compared to ₹2,823 crores in the corresponding period of previous year. Improvement in net profit is mainly on account of higher refining and marketing margins.
At the group level, IndianOil reported Revenue from Operations of ₹4,28,297 crores in H1 25-26 as compared to ₹4,18,480 crores in H1 24-25. The Net Profit for H1 25-26 is ₹14,999 crores as compared to ₹3,274 crores in the corresponding period of previous year.
