Valuation Indian Oil Corporation Limited

Equities

IOC

INE242A01010

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. Other stock markets 05:19:46 23/01/2026 pm IST			5-day change	1st Jan Change
156.03 ^INR	-1.90%		-3.28%	-6.27%

23/01	W.Africa Crude-Angola allocated 11 cargoes for March-loading	RE
23/01	India eyes better oil deals as Russian imports slow, minister says	RE

Company Valuation: Indian Oil Corporation Limited

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	8,43,279	10,92,085	10,72,805	23,10,179	17,58,628	21,48,777	-	-
Change	-	29.5%	-1.77%	115.34%	-23.87%	22.18%	-	-
Enterprise Value (EV) ¹	17,91,329	22,14,160	23,22,013	33,81,745	32,32,272	35,03,606	34,75,720	34,75,412
Change	-	23.6%	4.87%	45.64%	-4.42%	8.39%	-0.8%	-0.01%
P/E ratio	3.9x	4.35x	11x	5.54x	12.9x	7.95x	8.21x	8.79x
PBR	0.75x	0.83x	0.77x	1.29x	0.94x	1.05x	0.97x	0.9x
PEG	-	0.3x	-0.2x	0x	-0.2x	0.1x	-2.66x	-1.32x
Capitalization / Revenue	0.23x	0.19x	0.13x	0.3x	0.23x	0.3x	0.29x	0.27x
EV / Revenue	0.49x	0.38x	0.28x	0.44x	0.43x	0.49x	0.46x	0.44x
EV / EBITDA	4.29x	4.64x	7.56x	4.47x	8.98x	6.13x	6.04x	5.92x
EV / EBIT	5.81x	6.26x	13.3x	5.66x	16.8x	8.79x	8.81x	9.15x
EV / FCF	6.88x	125x	-78.5x	9.97x	-2,145x	18.3x	22.8x	26.4x
FCF Yield	14.5%	0.8%	-1.27%	10%	-0.05%	5.48%	4.39%	3.79%
Dividend per Share ²	8	8.4	3	12	3	6.426	6.267	5.732
Rate of return	13.1%	10.6%	3.85%	7.15%	2.35%	4.12%	4.02%	3.67%
EPS ²	15.71	18.23	7.11	30.3	9.87	19.62	19.01	17.75
Distribution rate	50.9%	46.1%	42.2%	39.6%	30.4%	32.8%	33%	32.3%
Net sales ¹	36,39,497	58,93,357	84,17,559	77,63,518	75,81,058	71,88,610	74,79,930	78,38,348
EBITDA ¹	4,17,818	4,77,417	3,06,990	7,55,908	3,59,905	5,71,443	5,75,594	5,86,735
EBIT ¹	3,08,403	3,53,941	1,75,179	5,97,247	1,92,132	3,98,635	3,94,332	3,79,619
Net income ¹	2,16,382	2,51,022	97,921	4,17,297	1,35,978	2,75,366	2,63,243	2,47,911
Net Debt ¹	9,48,051	11,22,075	12,49,208	10,71,565	14,73,644	13,54,829	13,26,944	13,26,635
Reference price ²	61.23	79.30	77.90	167.75	127.70	156.03	156.03	156.03
Nbr of stocks (in thousands)	1,37,71,561	1,37,71,561	1,37,71,561	1,37,71,561	1,37,71,561	1,37,71,561	-	-
Announcement Date	19/05/21	17/05/22	16/05/23	30/04/24	30/04/25	-	-	-

¹INR in Million²INR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
INDIAN OIL CORPORATION LIMITED	7.95x	0.49x	6.13x	4.12%	2.34TCr
EXXON MOBIL CORPORATION	19.78x	1.83x	8.54x	2.96%	57TCr
RELIANCE INDUSTRIES LTD	22.4x	2.08x	11.37x	0.43%	20TCr
CHINA PETROLEUM & CHEMICAL CORPORATION	14.32x	0.37x	5.87x	4.96%	10TCr
BP PLC	12.81x	0.68x	3.44x	5.46%	9.27TCr
SUNCOR ENERGY INC.	15.12x	1.84x	5.79x	3.32%	6.11TCr
VALERO ENERGY CORPORATION	27.06x	0.52x	8.71x	2.41%	5.71TCr
PHILLIPS 66	23.53x	0.58x	9.61x	3.36%	5.7TCr
MARATHON PETROLEUM CORPORATION	15.97x	0.62x	7.15x	2.12%	5.27TCr
IMPERIAL OIL LIMITED	17.77x	1.46x	9.56x	2.04%	5.01TCr
Average	17.67x	1.04x	7.62x	3.12%	12.69TCr
Weighted average by Cap.	19.07x	1.46x	8.27x	2.86%