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PM Inaugurates OIL's NSPL Pipeline Capacity Augmentation to 5.5 MMTPA
Oil India Limited has successfully commissioned the capacity augmentation of its 654-km Numaligarh-Siliguri Product Pipeline (NSPL). The pipeline capacity has been scaled from 1.72 MMTPA to 5.5 MMTPA to support the expansion of the Numaligarh Refinery to 9.0 MMTPA. The project was completed as a brownfield development for approximately ₹750 crore, representing a saving of ₹110 crore against the approved budget of ₹860 crore. This infrastructure upgrade is a key component of the Government's Hydrocarbon Vision 2030 for North-East India.
Key Highlights
Pipeline capacity increased significantly from 1.72 MMTPA to 5.5 MMTPA
Project completed at ₹750 crore, achieving ₹110 crore in savings against the ₹860 crore budget
Supports the tripling of Numaligarh Refinery capacity from 3.0 MMTPA to 9.0 MMTPA
Infrastructure upgrade involved converting pigging stations into Intermediate Pumping Stations across 654 km
💼 Action for Investors
Investors should note the successful execution and cost-efficiency of this project, which strengthens OIL's midstream capabilities. The increased throughput capacity is a positive driver for long-term operational revenue and refinery integration.
MOIL Revises Manganese Ore Prices for March 2026; Most Grades Up by 2% to 10%
MOIL Limited has announced a revision in the prices of various grades of Manganese Ore effective from March 1, 2026. Most Ferro and Chemical grades have seen a price hike of 2%, while specific grades like BGL509 and UKF532 witnessed a significant 10% increase. Conversely, the company has reduced the price of Electrolytic Manganese Dioxide (EMD) by Rs. 10,000 per metric ton. These monthly price adjustments are standard practice for the company to align with market demand and international price benchmarks.
Key Highlights
Prices of all Ferro grades (Mn 44% and above) and Chemical grades increased by 2% effective March 1, 2026.
SMGR (Mn 30%) prices hiked by 2%, while SMGR (Mn 25%) and Fines prices remain unchanged.
Specific grades BGL509 and UKF532 saw a sharp price increase of 10% compared to February levels.
Basic price of Electrolytic Manganese Dioxide (EMD) decreased by Rs. 10,000 per MT to Rs. 1,80,000 per MT.
Price revisions are based on the prevailing rates since February 1, 2026, and apply to the Jan-Mar 2026 quarter.
💼 Action for Investors
The upward revision in most ore grades is a positive indicator for MOIL's margins and revenue for the final month of the fiscal year. Investors should monitor global manganese price trends and domestic steel demand as they directly influence MOIL's monthly pricing power.
MOIL Announces 5-10% Price Hike for Various Manganese Ore Grades for February 2026
MOIL Limited has announced a price revision for various grades of Manganese Ore effective from February 1, 2026. Most Ferro grades, SMGR (30%), Fines, and Chemical grades have seen a price increase of 5% over January 2026 levels. Notably, the UKF532 grade saw a higher increase of 10%, while the price for Electrolytic Manganese Dioxide (EMD) remained steady at Rs. 1,90,000 per metric tonne. These price hikes are expected to positively impact the company's realizations and profit margins for the final quarter of the fiscal year.
Key Highlights
Prices of all Ferro grades with Manganese content of 44% and above increased by 5%.
SMGR (Mn-30%), Fines, and all Chemical grades saw a price hike of 5%.
Metal Mandi Fines grade UKF532 received a significant price increase of 10%.
Basic price of Electrolytic Manganese Dioxide (EMD) maintained at Rs. 1,90,000 per metric tonne.
Prices for SMGR (Mn 25% and 20%) and specific Ferro grade BG4584 remained unchanged from January levels.
💼 Action for Investors
Investors should monitor these price hikes as they directly contribute to improved revenue and margins for MOIL. The upward revision suggests healthy demand in the steel and alloy sectors, making the stock a positive watch for the upcoming quarter.
HOEC Proposes New Chairman and MD & CEO Appointments via Postal Ballot
Hindustan Oil Exploration Company (HOEC) has initiated a postal ballot to seek shareholder approval for significant leadership changes. Dr. Jagadip Narayan Singh is proposed as the Non-Executive Independent Director and Chairman for a five-year term until January 2031. Furthermore, Mr. Baroruchi Mishra is slated to take over as Managing Director & CEO for a three-year term starting April 1, 2026. The e-voting process for these resolutions will conclude on March 29, 2026, following a cut-off date of February 20, 2026.
Key Highlights
Dr. Jagadip Narayan Singh proposed as Chairman for a 5-year term from January 23, 2026, to January 22, 2031.
Mr. Baroruchi Mishra to be appointed as Managing Director & CEO for a 3-year term effective April 1, 2026.
Mr. Mishra's designation transitions from Independent to Non-Independent Director effective February 25, 2026.
Remote e-voting period is set from February 28, 2026, to March 29, 2026.
Shareholder eligibility for voting was determined by the cut-off date of February 20, 2026.
💼 Action for Investors
Investors should monitor the leadership transition for any changes in the company's strategic direction or operational focus under the new MD & CEO. The move to appoint an existing board member as CEO suggests a preference for internal continuity.
HOEC Appoints Baroruchi Mishra as MD & CEO; Dr. J.N. Singh Joins as Chairman
Hindustan Oil Exploration Company (HOEC) has announced a major leadership overhaul, appointing Mr. Baroruchi Mishra as MD & CEO for a 3-year term starting April 1, 2026. He replaces Mr. Ramasamy Jeevanandam, who resigns effective March 31, 2026, after an 11-year tenure with the company. Furthermore, Dr. Jagadip Narayan Singh, a former Chief Secretary of Gujarat with deep experience in the gas and petroleum sectors (GSPC, Gujarat Gas), has been appointed as Chairman for 5 years. These strategic appointments aim to leverage high-level administrative and techno-commercial expertise for the company's future growth.
Key Highlights
Mr. Baroruchi Mishra appointed as MD & CEO for a 3-year term starting April 1, 2026.
Dr. Jagadip Narayan Singh appointed as Independent Director & Chairman for a 5-year term.
Outgoing MD Mr. Ramasamy Jeevanandam concludes an 11-year stint with the company, including 2 years as MD.
New CEO candidate Mr. Mishra has 35+ years of experience and was previously shortlisted for the ONGC CMD role in 2022.
💼 Action for Investors
The appointment of a former top bureaucrat as Chairman and a seasoned energy professional as CEO is a strong signal of institutional strengthening. Long-term investors should remain positive as the new leadership takes charge to drive the next phase of expansion.
HOEC Appoints Baroruchi Mishra as MD & CEO; Ramasamy Jeevanandam to Step Down March 31
Hindustan Oil Exploration Company (HOEC) has announced a significant leadership transition with Mr. Baroruchi Mishra appointed as the new Managing Director & CEO for a three-year term starting April 1, 2026. This follows the resignation of the current MD, Mr. Ramasamy Jeevanandam, who will step down on March 31, 2026, after an 11-year tenure with the company. Mr. Mishra brings over 35 years of experience in the Oil & Gas sector and was notably shortlisted for the ONGC CMD position in 2022. Additionally, the company recently appointed Dr. Jagadip Narayan Singh, a former Chief Secretary of Gujarat, as its Independent Chairman.
Key Highlights
Mr. Baroruchi Mishra appointed as MD & CEO for a 3-year term effective April 1, 2026.
Outgoing MD Mr. Ramasamy Jeevanandam concludes 11 years of service, including 2 years as MD.
New CEO Baroruchi Mishra has 35+ years of experience and was a 2022 finalist for the ONGC CMD role.
Dr. Jagadip Narayan Singh, former Gujarat Chief Secretary, joined as Independent Chairman in January 2026.
The leadership appointments are subject to shareholder approval.
💼 Action for Investors
Investors should monitor the strategic direction under the new CEO, given his extensive technical background in EPC and Energy Transition. The high-profile appointments to the Board and CEO level suggest a focus on strengthening corporate governance and operational expertise.
HOEC Q3 FY26: Consol PAT at ₹8.28 Cr; B-80 Oil Production Jumps 45% QoQ
HOEC reported a consolidated PAT of ₹8.28 crore for Q3 FY26, a significant recovery from ₹2.83 crore in Q2. Production at the B-80 offshore field improved to 45,742 barrels of oil and 0.4 bcf of gas as monsoon disruptions subsided. Dirok gas sales saw a slight dip to 13 mmscfd with realized prices at $7.32/mmbtu, but the upcoming Northeast Gas Grid connection in March 2026 is expected to boost offtake. The company is also managing a commercial dispute with HPCL over a 417,000-barrel crude shipment regarding contamination claims.
Key Highlights
Consolidated EBITDA grew to ₹31 crore in Q3 FY26 from ₹25 crore in the previous quarter.
B-80 oil production increased by 45% QoQ to 45,742 barrels, while gas production reached 0.4 bcf.
Kharsang block drilling continues with 8 wells completed and current production at 800 barrels per day.
Management estimates total resource potential at 100 million barrels of oil equivalent for its share.
Northeast Gas Grid connection expected by March 2026 to enable higher Dirok gas sales volume.
💼 Action for Investors
Investors should monitor the commissioning of the IGGL pipeline and the resolution of the HPCL receivable issue, as these are key catalysts for cash flow. The aggressive drilling plan for 18 shallow wells in Kharsang suggests strong volume growth potential for FY27.
MOIL Wins GST Appeal; Rs 55-58 Crore Tax Liability Quashed
MOIL Limited has received a favorable ruling from the Commissioner (Appeals), CGST & Central Excise, Bhopal, regarding a significant tax dispute. The appellate authority set aside a previous order that demanded GST under the reverse charge mechanism on payments made to the Madhya Pradesh Mining Department. This ruling effectively quashes a total risk exposure of approximately Rs. 55 to 58 Crore, which included tax, penalties, and interest. As of now, no liability remains for the company in this matter, providing significant financial relief.
Key Highlights
Appellate authority quashed a GST demand of Rs. 20.29 Crore.
An equivalent penalty of Rs. 20.29 Crore has also been set aside by the authority.
Estimated interest of Rs. 15-18 Crore is no longer payable, totaling a relief of Rs. 55-58 Crore.
The dispute related to GST on MPGATSVA under the reverse charge mechanism (RCM) for the Mining Department of MP.
No liability survives as on date, though the decision is subject to further appeal by the Department.
💼 Action for Investors
This is a positive development as it eliminates a significant contingent liability from MOIL's books. Investors should maintain their positions while keeping an eye on whether the tax department files a further appeal in higher tribunals.
Gulf Oil Renews Multi-Year Strategic Partnership with Mahindra Tractors
Gulf Oil Lubricants India has signed a multi-year renewal of its strategic partnership with Mahindra & Mahindra’s Tractor Division. This agreement is the longest in their 12-year history and ensures Gulf Oil holds the largest share of business within Mahindra's tractor ecosystem. The partnership, which expanded to tractors in 2014, focuses on co-branded initiatives and supply chain efficiency. This renewal reinforces Gulf Oil's strong OEM relationship portfolio, which includes over 50 major manufacturers.
Key Highlights
Renewal of a multi-year agreement with Mahindra & Mahindra's Farm Equipment Business.
Gulf Oil will hold the largest share of business for the duration of the partnership.
The partnership has evolved over 12 years since its inception in the tractor segment in 2014.
Gulf Oil maintains a robust network with over 50 OEMs and 1,000+ industrial clients.
💼 Action for Investors
This renewal provides long-term revenue stability and validates Gulf Oil's strong positioning in the OEM segment. Investors should remain positive on the stock as it secures its market share with a leading tractor manufacturer.
Gulf Oil Q3 FY26: Record ₹1,018 Cr Revenue; Declares ₹21 Interim Dividend
Gulf Oil Lubricants India reported a record Q3 with consolidated revenue reaching ₹1,017.55 crore, a 10.56% YoY increase. While reported PAT declined 21.77% YoY to ₹76.13 crore, this was primarily due to a ₹22.78 crore one-time provision for new labor codes and a high base effect from a land sale in the previous year. Operationally, the company outperformed the industry with 2x volume growth and saw its EV subsidiary, Tirex, grow revenue by 83% YoY. A significant interim dividend of ₹21 per share was declared, reflecting strong cash flow and management confidence.
Key Highlights
Consolidated revenue for 9M FY26 crossed the ₹3,000 crore milestone, growing 12.04% YoY.
Declared an interim dividend of ₹21.00 per equity share, representing 1,050% of the face value.
EV charging subsidiary Tirex delivered 83% revenue growth and achieved positive EBITDA for the quarter.
Ongoing ₹55 crore capex to expand lubricant capacity by 70% to 240 million liters at Chennai and Silvassa.
EBITDA margins improved sequentially by 67 bps to 13.02% despite currency depreciation pressures.
💼 Action for Investors
Investors should look past the headline PAT decline which was driven by non-recurring provisions; the underlying volume growth and EV segment turnaround are strong positives. The high dividend payout and capacity expansion plans signal robust long-term growth prospects in both traditional and emerging segments.
K S Oils Receives Court Injunction Against Usage of "Kalash" Trademark; Company to Appeal
K S Oils Limited has been served an ex-parte interim injunction by the Rohini District Court, New Delhi, restraining the use of its "Kalash" trademark. The dispute arises from trademark usage rights following an NCLT approved order dated February 03, 2025. While the company claims the order is legally unsustainable and is filing an appeal, the restriction on a key brand could have long-term implications. Management currently states that operations are unaffected and the financial impact is being evaluated but is not yet considered material.
Key Highlights
Interim injunction received on February 16, 2026, from Rohini District Court regarding "Kalash" trademark.
Legal matter pertains to trademark usage rights post-NCLT order dated February 03, 2025.
Company is in the process of filing an appeal against the order, citing it as not maintainable in law.
Management reports that overall operations remain unaffected while financial impact is under evaluation.
💼 Action for Investors
Investors should monitor the progress of the legal appeal as the "Kalash" brand is a core asset for the company's edible oil business. Any permanent loss of trademark rights could significantly impact market share and brand equity.
HOEC Q3 FY26 Net Profit Drops to ₹8.28 Cr; Gross Production Rises to 5,123 BOEPD
Hindustan Oil Exploration Company (HOEC) reported a significant decline in consolidated net profit to ₹8.28 crore for Q3 FY26, down from ₹43.32 crore in the year-ago period. While gross production saw a sequential increase to 5,123 BOEPD, revenue from operations fell sharply to ₹81.04 crore. A major concern for investors is the ₹259 crore in unrealized dues from HPCL regarding the B-80 block, where quality issues have been raised. The company is focusing on its Dirok Phase-II development and awaiting PSC extensions for several key assets to commence further drilling.
Key Highlights
Consolidated Net Profit for Q3 FY26 plummeted to ₹8.28 Cr from ₹43.32 Cr in Q3 FY25.
Gross production improved to 5,123 BOEPD in Q3 FY26, up from 4,788 BOEPD in Q2 FY26.
Unrealized receivables of ₹259 Cr from HPCL for B-80 crude sales due to quality disputes.
B-80 production averaged 4.57 mmscfd of gas and 497 barrels of oil per day during the quarter.
North-East Gas Grid mechanical completion achieved; full completion expected by March-April 2026.
💼 Action for Investors
Investors should exercise caution given the sharp drop in quarterly earnings and the significant liquidity risk posed by the ₹259 crore dispute with HPCL. Closely monitor the resolution of this receivable and the timeline for the North-East Gas Grid completion, which is vital for monetizing Dirok's full capacity.
HOEC Q3 FY26 Standalone Net Profit Jumps 141% YoY to ₹11.96 Crore
Hindustan Oil Exploration Company (HOEC) reported a standalone net profit of ₹11.96 crore for Q3 FY26, a significant increase from ₹4.96 crore in the same quarter last year. While quarterly revenue from operations remained flat at ₹77.32 crore, the nine-month total income surged to ₹477.93 crore, largely due to the consolidation of Block B-80. The company recorded an exceptional gain of ₹32.58 crore during the nine-month period related to the fair value remeasurement of its interest in Block B-80. Management is currently resolving a dispute with HPCL regarding crude oil quality and outstanding dues.
Key Highlights
Standalone Net Profit for Q3 FY26 rose 141% YoY to ₹1,195.99 lakhs from ₹496.12 lakhs.
Total Income for the nine-month period ended Dec 2025 more than doubled to ₹47,793.36 lakhs compared to ₹21,829.33 lakhs YoY.
Basic EPS for the quarter improved to ₹0.90, up from ₹0.38 in the corresponding quarter of the previous year.
An exceptional gain of ₹3,257.87 lakhs was recognized in FY26 following the acquisition of an additional 40% interest in Block B-80.
The company reported a ₹145.36 lakhs impact due to the implementation of new Labour Codes effective November 21, 2025.
💼 Action for Investors
The strong bottom-line growth driven by the consolidation of Block B-80 is a positive signal for long-term investors. However, shareholders should monitor the resolution of the quality dispute with HPCL as it may impact short-term cash flows.
K S Oils Reports Q3 Revenue of ₹36.54 Cr; Appoints EY as Internal Auditor
K S Oils Limited, recently acquired by Soy-Sar Edible Private Limited, has reported a significant operational restart with Q3 FY26 revenue reaching ₹3,654 Lakhs compared to nil in the previous year. Despite the revenue growth, the company recorded a net loss of ₹688 Lakhs for the quarter as it scales up operations post-liquidation. To strengthen corporate governance during this turnaround phase, the board has appointed Ernst & Young LLP (EY) as the Internal Auditor for FY 2025-26. The company is currently operating as a going concern with financial support from its new management.
Key Highlights
Revenue from operations surged to ₹3,654 Lakhs in Q3 FY26 from just ₹129 Lakhs in Q2 FY26.
Net loss for the quarter stood at ₹688 Lakhs, compared to a loss of ₹535 Lakhs in the same period last year.
Nine-month total income reached ₹3,899 Lakhs as operations gradually recommenced during FY 2025-26.
Appointed Ernst & Young LLP (EY) as Internal Auditors to oversee compliance and risk management.
The company has transitioned from liquidation to a going concern following a successful NCLT-led acquisition.
💼 Action for Investors
Investors should closely monitor the company's path to profitability and capacity utilization under the new management. While the revenue jump is positive, the stock remains a high-risk turnaround play given the historical liquidation background.
K S Oils Q3 Results: Revenue Surges to ₹36.54 Cr Post-Acquisition; Net Loss Widens to ₹6.88 Cr
K S Oils Limited, now under the management of Soy-Sar Edible Private Limited following an NCLT-led acquisition, reported a significant revenue jump to ₹3,654 Lakhs in Q3 FY26 from near-zero levels a year ago. Despite the operational restart, the company posted a net loss of ₹688 Lakhs for the quarter, widening from a loss of ₹517 Lakhs in the previous quarter. The company is currently in a transition phase, scaling up its edible oil business and re-establishing its 'going concern' status. To strengthen corporate governance, the board has appointed EY as internal auditors.
Key Highlights
Revenue from operations reached ₹3,654 Lakhs in Q3 FY26, a massive increase from ₹129 Lakhs in Q2 FY26.
Net loss for the quarter stood at ₹688 Lakhs, compared to a loss of ₹535 Lakhs in the same period last year.
Total expenses for the quarter were ₹4,414 Lakhs, largely driven by raw material consumption of ₹5,908 Lakhs.
The company has officially resumed operations as a 'going concern' following its acquisition by Soy-Sar Edible Private Limited.
Ernest & Young LLP (EY) has been appointed as Internal Auditors for the financial year 2025-26.
💼 Action for Investors
Investors should closely monitor the company's capacity utilization and margin recovery as it exits the liquidation phase. While the revenue growth is a positive sign of operational restart, the stock remains speculative until the company demonstrates a path to profitability.
Oil Country Tubular Reports Q3 FY26 Net Loss of ₹11.98 Cr as Revenue Plummets 86% YoY
Oil Country Tubular Limited reported a dismal performance for the quarter ended December 31, 2025, with revenue from operations crashing 86.4% YoY to ₹5.62 crore. The company posted a net loss of ₹11.98 crore, a sharp reversal from the ₹5.44 crore profit recorded in the same period last year. Segmental performance was weak across the board, with OCTG Services revenue falling from ₹29.08 crore to just ₹0.73 crore. Additionally, the company noted minor regulatory fines for delayed RPT disclosures, though these were immaterial in value compared to the operational losses.
Key Highlights
Revenue from operations fell sharply to ₹562.10 lakhs in Q3 FY26 from ₹4,121.09 lakhs in Q3 FY25.
Reported a net loss of ₹1,198.21 lakhs for the quarter compared to a profit of ₹543.70 lakhs in the year-ago period.
OCTG Services segment revenue collapsed to ₹73.16 lakhs from ₹2,907.75 lakhs YoY.
Nine-month (9M FY26) total comprehensive loss stands at ₹3,961.04 lakhs versus a loss of ₹1,407.43 lakhs in 9M FY25.
The company paid fines of ₹5,000 each to BSE and NSE for a one-day delay in Related Party Transaction disclosures.
💼 Action for Investors
Investors should exercise extreme caution as the company's core business segments are showing severe contraction and mounting losses. The massive drop in service revenue suggests significant operational challenges or loss of major contracts.
Oil Country Tubular Q3 Loss Widens to ₹14.73 Cr; Revenue Plummets 86% YoY
Oil Country Tubular Limited reported a dismal performance for Q3 FY26, with revenue from operations crashing 86% YoY to ₹5.62 crore. The company recorded a net loss of ₹14.73 crore for the quarter, a sharp reversal from the ₹2.67 crore profit in the same period last year. For the nine-month period ending December 2025, the net loss has expanded significantly to ₹31.38 crore. The board also acknowledged minor regulatory fines for a one-day delay in filing related party transaction disclosures.
Key Highlights
Quarterly revenue from operations fell sharply to ₹562.10 Lakhs from ₹4,121.09 Lakhs YoY.
The company posted a net loss of ₹1,473.14 Lakhs for Q3 FY26 vs a profit of ₹267.18 Lakhs in Q3 FY25.
OCTG Services segment revenue collapsed to ₹73.17 Lakhs from ₹2,907.75 Lakhs in the year-ago quarter.
Nine-month net loss widened to ₹3,138.33 Lakhs compared to ₹1,315.70 Lakhs in the previous year.
BSE and NSE imposed fines of ₹5,000 each for a 1-day delay in RPT disclosure compliance.
💼 Action for Investors
The stock faces significant headwinds due to the massive erosion in revenue and persistent losses across core segments. Investors should exercise extreme caution and monitor for any signs of operational recovery or new contract wins before considering any position.
Oil India Declares Rs 7 Interim Dividend and Divests Non-Performing Russian Asset
Oil India Limited has declared a second interim dividend of Rs 7 per share (70% of paid-up capital) for FY 2025-26, with a record date of February 18, 2026. Alongside the dividend, the company announced the divestment of its 50% interest in the non-performing Licence-61 asset in Russia, which has been under bankruptcy administration since 2022. The company has already fully provided for this investment exposure, meaning no further financial hit is expected from this exit. Oil India continues to hold and receive dividends from its other two productive Russian assets, Vankorneft and Taas Yuryakh.
Key Highlights
Second interim dividend of Rs 7 per share (70% of paid-up capital) declared for FY 2025-26.
Record date for dividend eligibility set for February 18, 2026, with payment by March 11, 2026.
Divestment of 50% stake in Licence-61, Russia, as part of international portfolio rationalization.
The Russian asset being divested has been non-performing with production suspended since August 2022.
Full financial provision for the divested asset has already been made in previous periods.
💼 Action for Investors
Investors seeking the Rs 7 dividend should ensure they hold the stock before the February 18 record date. The divestment is a positive move to clean up the balance sheet of non-performing assets.
Oil India Declares ₹7 Interim Dividend; Q3 PAT Drops to ₹808 Cr Amid Lower Revenue
Oil India announced a second interim dividend of ₹7 per share for FY 2025-26, with a record date of February 18, 2026. The company's Q3 FY26 standalone profit after tax fell significantly to ₹808.31 crore from ₹1,221.80 crore in the same quarter last year. Revenue from operations also saw a decline to ₹4,916.10 crore compared to ₹5,239.66 crore year-on-year. Additionally, the board approved the divestment of its 50% stake in the non-performing License-61 asset in Russia to optimize capital deployment.
Key Highlights
Declared second interim dividend of ₹7 per share (70% of paid-up capital) for FY 2025-26
Standalone Q3 PAT decreased by 33.8% YoY to ₹808.31 crore from ₹1,221.80 crore
Revenue from operations for the quarter ended Dec 2025 stood at ₹4,916.10 crore
Board approved divestment of 50% interest in License-61, Russia, which has been non-performing since 2022
Total provision for disputed Service Tax/GST on royalty reached ₹4,509.98 crore as of Dec 31, 2025
💼 Action for Investors
Investors should weigh the attractive interim dividend against the declining quarterly profitability and ongoing legal liabilities. The strategic exit from non-performing Russian assets is a long-term positive for the balance sheet.
Oil India Q3 Consolidated PAT at ₹1,436 Cr; Declares ₹7.00/Share Dividend
Oil India Limited reported a steady consolidated Profit After Tax (PAT) of ₹1,436 crore for Q3FY26, compared to ₹1,457 crore in the previous year. While standalone PAT dropped to ₹808 crore due to a 15% decline in crude price realizations, the company's subsidiary, Numaligarh Refinery Limited (NRL), saw a massive 125% growth in PAT to ₹867 crore. Operationally, the company achieved its highest daily crude production in a decade. Additionally, the board declared a second interim dividend of ₹7.00 per share.
Key Highlights
Consolidated PAT stood at ₹1,436 crore for Q3FY26 vs ₹1,457 crore in Q3FY25.
Standalone PAT declined to ₹808 crore as crude realization fell from $73.82/bbl to $62.84/bbl.
Subsidiary NRL reported 125% PAT growth to ₹867 crore with a GRM of $16.27/bbl.
Declared 2nd interim dividend of ₹7.00 per share, taking total interim dividend to ₹10.50.
Achieved highest daily crude production in a decade at 9,861 MT on December 31, 2025.
💼 Action for Investors
Investors should look past the standalone profit dip caused by lower oil prices and focus on the robust performance of the NRL subsidiary and consistent dividend payouts. The decade-high daily production indicates strong operational efficiency in maturing fields.