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Oil India Limited (OIL)

₹445.00 -0.09% last close, 16 Oct

📊 NSE: OIL 🏢 Oil Drilling / Allied Services 📢 Latest filing: 14 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, Oil India's revenue was ₹9,293 Cr (-3.1% year on year, +2.0% on the previous quarter), and net profit ₹2,424 Cr (+61.9% year on year); the operating margin was 35.3%.

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹9,293	-3.1%	+2.0%
Operating profit	₹3,281	+14.7%	+30.7%
Net profit	₹2,424	+61.9%	+68.8%
EPS (₹)	12.91	+60.4%	+75.6%
Operating margin	35.3%	—	—

Full quarterly financials → Results calendar →

OIL delivery percentage and open interest

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 56.68% of the OIL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.13%. That is close to its usual level. Volume was 0.3 times its average, well below normal. In OIL futures, open interest rose 0.79% while the futures price rose 0.17%: long buildup (new long positions).

56.68%Delivery, 16 Oct

50.13%Own 20-session average

0.3×Volume vs its average

+0.79%Futures open interest

₹445.00NSE close · -0.09%

Delivery in the last 5 sessions: 59.7% · 58.5% · 58.3% · 45.8% · 56.7%

Delivery across the market →F&O open interest →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Oil India Submits Regulation 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 14 Oct 2026, 11:24 AM

Oil India Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar & Share Transfer Agent KFin Technologies confirms that all dematerialization requests received during the period were processed, verified, and updated in the register of members within the mandated 15-day timeline. This is a standard quarterly administrative filing with no impact on business operations or financials.

Regulation 74(5) compliance confirmed for the quarter ended 30th September, 2026
Share certificates received for dematerialization were processed and updated within 15 days
Certificate issued by Registrar & Share Transfer Agent KFin Technologies Limited on 05.10.2026
Filing officially submitted to NSE and BSE on 14.10.2026

💡 No action is required as this is a recurring regulatory formality; investors should look ahead to the upcoming Q2 FY27 financial results.

Oil India subsidiary incorporates 50:50 JV Hind Oil Biofuels for compressed biogas

🟡 NEUTRAL ⭐ 3/10

EXPANSION 📅 13 Oct 2026, 10:50 PM

Oil India Limited's wholly-owned subsidiary, OIL Green Energy Ltd (OGEL), has incorporated a joint venture company named Hind Oil Biofuels Private Limited on October 13, 2026. The JV will focus on clean and alternate energy, specifically the production of compressed biogas and biofuels from municipal solid waste. OGEL holds a 50% equity stake in the entity, subscribing to 50,000 shares for an initial investment of Rs 5.00 lakh. Given Oil India's TTM revenue of Rs 35,509 crore, this initial financial outlay is negligible, marking an early-stage entry into bio-energy.

OGEL incorporated JV company 'Hind Oil Biofuels Private Limited' on October 13, 2026
OGEL acquired 50% shareholding via initial subscription of Rs 5.00 lakh (50,000 shares at Rs 10 each)
Initial authorized share capital is Rs 1.00 crore divided into 10 lakh equity shares
Received approvals from MOP&NG dated June 11, 2025, and concurrence from DIPAM

💡 Track subsequent announcements on project capex allocations, project locations, and commercial commissioning timelines for the compressed biogas plants.

Oil India Requests Stock Exchanges to Waive Fines for Board Composition Non-Compliance

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 18 Sep 2026, 08:06 PM

Oil India Limited reported that its Board of Directors met on September 18, 2026, to review fines levied by stock exchanges (BSE and NSE) regarding non-compliance with board composition norms under SEBI LODR Regulations for the quarter ended June 30, 2026. The Board directed management to seek a waiver of these fines, citing that director appointments in a CPSE are beyond the company's direct control. The company had previously written to the exchanges on September 1, 2026, regarding this matter.

Board meeting held on 18.09.2026 to discuss fines levied by stock exchanges
Fines pertain to non-compliance with SEBI LODR board composition rules for the quarter ended 30.06.2026
Follows earlier communication dated 01.09.2026 requesting waiver
Board advised to request waiver again as PSU appointments are controlled by the Government

💡 Track whether BSE and NSE grant the waiver request, and watch for Ministry notifications regarding the appointment of requisite independent directors to ensure regulatory compliance.

Oil India Shareholders Approve MoA & AoA Amendments and Authorised Capital Increase at 67th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 07:48 PM

Oil India Limited announced that its shareholders approved amendments to the Objects Clause and Capital Clause of the Memorandum of Association (MoA), along with amendments to its Articles of Association (AoA), during the 67th AGM on September 17, 2026. The approval includes an increase in the company's Authorised Share Capital, though specific revised capital figures were not stated in the disclosure text. The amendments align the corporate charter with long-term strategic objectives and potential future corporate actions. Financially, Oil India reported FY26 net profit of ₹7,550.70 crore on revenue of ₹35,508.84 crore.

Shareholders approved amendments at the 67th Annual General Meeting held on 17-09-2026
Approval granted for increasing the Authorised Share Capital and amending the Capital Clause of the MoA
Amendment to the Objects Clause of the MoA approved by shareholders
Amendment of Articles of Association (AoA) approved, following earlier board intimation dated 29-06-2026

💡 Track subsequent filings or check the amended MoA/AoA on the company's website to determine the exact increase in authorised share capital and any new business lines added to the Objects clause.

Oil India Shareholders Approve 9 Resolutions Including ₹1/Share Final Dividend at 67th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Sep 2026, 07:21 PM

Oil India Limited has released the voting results and scrutinizer's report for its 67th Annual General Meeting held on September 17, 2026. All 9 resolutions submitted were approved by shareholders with the requisite majority, including the adoption of FY26 financial statements and approval of a Re 1.00 per share final dividend (10% of paid-up capital). Shareholders also approved an increase in authorized share capital and amendments to the Memorandum and Articles of Association. A total of 1.46 billion votes were polled across key resolutions, with high overall participation representing over 90% of outstanding voting equity.

All 9 resolutions passed at the 67th AGM held on September 17, 2026
Final dividend of ₹1 per share approved with 98.53% votes in favor
Increase in Authorised Share Capital and MoA Capital Clause amendment approved with 93.13% votes in favor
Objects Clause and Articles of Association amendments approved with 100% and 98.23% support respectively
A total of 442,492 shareholders were on record as of the September 10, 2026 record date

💡 Track the payment timeline for the Re 1.00 final dividend and monitor the company's capital deployment following the approved increase in authorized share capital.

Oil India Concludes 67th AGM; Proposes Re 1/share Final Dividend and Capital Clause Changes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 17 Sep 2026, 06:40 PM

Oil India Limited held its 67th Annual General Meeting on September 17, 2026, putting 9 resolutions to shareholder vote. Key agenda items included the adoption of FY26 financial statements and approval of a final dividend of Re 1 per share (10% of paid-up capital). Special business resolutions included amending the company's Objects Clause, increasing authorized share capital, and amending the Articles of Association. Voting results will be disclosed within 2 working days.

Held 67th Annual General Meeting on September 17, 2026, commencing at 11:00 AM and concluding at 02:12 PM
9 resolutions presented to shareholders for approval across ordinary and special business
Proposed final dividend of Re 1 per share (10% of paid-up capital) for FY 2025-26
Proposed amendment to Objects Clause and an increase in Authorised Share Capital in the MoA
E-voting results to be declared within 2 working days of the AGM

💡 Track the formal voting results announcement within two working days to confirm passing of resolutions, particularly regarding the authorized capital expansion.

OIL Targets 10 MMTOE by 2030, Reports ₹2,870 Cr Q1 Standalone PAT and Offshore Gas Discoveries

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 17 Sep 2026, 04:05 PM

At its 67th AGM, Oil India Limited outlined its target to achieve ~10 MMTOE of oil and gas production by the end of the decade, aligning its exploration plans with the Government's ₹84,084 crore 'Samudra Manthan' offshore mission. The company reported producing 3.450 MMT of crude and 3.186 BCM of gas in FY26, alongside an invested group capex exceeding ₹21,673 crore (~61% of TTM revenue). Strong operational momentum carried into Q1 FY27 with crude production rising 11% YoY to 0.950 MMT and a record standalone quarterly PAT of ₹2,870 crore. Offshore exploration in the Andaman basin marked successful gas discoveries at Sri Vijayapuram-2 and Sri Vijayapuram-3.

Targeting 10 MMTOE oil and gas production by the end of the decade, up from FY26 output of 3.450 MMT crude and 3.186 BCM gas
Record standalone quarterly PAT of ₹2,870 crore reported in Q1 FY27, with crude output rising 11% YoY to 0.950 MMT
Group capex invested over ₹21,673 crore in FY26 across upstream, NRL refinery expansion (3 to 9 MMTPA), and pipelines
Andaman basin exploration achieved gas discovery with continuous flaring at Sri Vijayapuram-3
Aligning exploration with GoI's ₹84,084 crore 'Samudra Manthan' offshore scheme and ₹23,731 crore 'GOBARdhan' scheme

💡 Track the commercialization timeline of Andaman basin discoveries and the operational commissioning of the NRL refinery expansion to 9 MMTPA.

CAG Appoints Joint Statutory Auditors for Oil India for FY 2026-27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Sep 2026, 05:02 PM

The Comptroller and Auditor General of India (CAG) has appointed M/s R K P Associates and M/s O P Totla & Co. as Joint Statutory Auditors of Oil India Limited for FY 2026-27. The appointment was formalized via a CAG letter dated September 7, 2026, and received by the company on September 9, 2026. This is an annual procedural compliance requirement under Section 139 of the Companies Act, 2013, applicable to Central Public Sector Enterprises.

Appointment of Joint Statutory Auditors for FY 2026-27 under Section 139 of the Companies Act, 2013.
CAG letter dated 07.09.2026 received by the company on 09.09.2026.
M/s R K P Associates appointed with Firm Registration No. 3224738.
M/s O P Totla & Co. appointed with Firm Registration No. 000734C.

💡 Track the upcoming quarterly financial reporting to verify standard audit sign-offs by the newly appointed statutory auditors.

Oil India Announces Superannuation of ED (Finance) Jyotirmoy Bhattacharya

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 31 Aug 2026, 05:14 PM

Oil India Limited has informed the exchanges regarding a change in its senior management personnel. Shri Jyotirmoy Bhattacharya, Executive Director (Finance), who was one level below the Board of Directors, superannuated from the services of the company effective 31st August 2026 after the close of working hours. This is a routine retirement in the ordinary course of business.

Shri Jyotirmoy Bhattacharya, ED (Finance), superannuated on 31st August 2026
Role falls under Senior Management (one level below the Board of Directors)
Filing submitted under Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Track subsequent announcements regarding the appointment of a successor for the Executive Director (Finance) position.

OIL Unit Inks MoUs for 5,000 TPD Waste-to-Energy and 50 MW Green Power Projects in Haryana

🔵 WATCH ⭐ 5/10

EXPANSION 📅 30 Aug 2026, 07:20 AM

Oil India Limited's wholly owned subsidiary, OIL Green Energy Limited (OGEL), has signed MoUs with four municipalities in Haryana (Gurugram, Faridabad, Hisar, and Ambala). The four integrated projects will have a combined capacity to process 5,000 tonnes of municipal solid waste per day (TPD). The facilities are expected to generate 70–75 TPD of Compressed Biogas (CBG) along with 50 MW of green electricity. Capex outlay and commissioning timelines were not disclosed in the announcement.

5,000 TPD aggregate municipal solid waste processing capacity across four Haryana clusters.
Cluster breakdown: Gurugram (2,000 TPD), Faridabad (1,600 TPD), Ambala (900 TPD), and Hisar (500 TPD).
Estimated clean energy output of 70–75 TPD of Compressed Biogas (CBG) and 50 MW of green power.

💡 Track the signing of definitive concession agreements, approved capex budgets, and formal project execution timelines.

NSE and BSE Impose Fine of ₹9.66 Lakh Each on Oil India for Board Composition Lapses

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 26 Aug 2026, 06:23 PM

Stock exchanges NSE and BSE have levied a fine of ₹9,66,420 each (totaling ~₹19.33 lakh) on Oil India Limited for the quarter ended June 2026. The penalties relate to non-compliance with SEBI LODR regulations regarding the non-appointment of requisite Independent Directors (including a Woman Independent Director) and the composition of Audit and Nomination & Remuneration Committees. Oil India clarified that board appointments are governed directly by the Ministry of Petroleum & Natural Gas (MoP&NG) and reiterated that the fine has no material impact on operations or financials.

Fine of ₹9,66,420 each levied by NSE and BSE for the quarter ended June 2026.
Non-compliance under Regulations 17(1), 18(1), and 19(1)/19(2) of SEBI LODR Regulations.
Concerns lack of requisite Independent Directors, including one Woman Independent Director.
Board appointments are pending action by the Ministry of Petroleum & Natural Gas (MoP&NG).

💡 Track subsequent appointments of Independent Directors by the Government of India to regularize board and committee compliance.

Oil India Issues 67th AGM Notice; Proposes ₹1/Share Dividend, ₹5,000 Cr Authorised Capital

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Aug 2026, 02:26 PM

Oil India Limited has issued the notice for its 67th Annual General Meeting scheduled for September 17, 2026. Key proposals include the declaration of a final dividend of ₹1.00 per share (10% of face value) with a record date of September 04, 2026. The company is also seeking shareholder approval to expand its authorised share capital from ₹2,000 crore to ₹5,000 crore. Additional ordinary and special businesses include director appointments, MoA/AoA amendments, and auditor fee ratifications.

67th AGM scheduled for September 17, 2026 via Video Conferencing.
Proposed final dividend of ₹1 per equity share (10% of paid-up capital).
Record date for final dividend set as September 04, 2026.
Proposed increase in Authorised Share Capital from ₹2,000 crore (200 crore shares) to ₹5,000 crore (500 crore shares).

💡 Eligible shareholders should note the record date of September 04, 2026 for the final dividend and monitor the outcome of the AGM voting on September 17, 2026.

Oil India Sets Sep 4, 2026 as Record Date for FY26 Final Dividend; AGM on Sep 17

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 19 Aug 2026, 04:49 PM

Oil India Limited has scheduled its 67th Annual General Meeting (AGM) for September 17, 2026, via video conferencing. The company fixed Friday, September 4, 2026, as the record date to determine shareholder eligibility for the FY 2025-26 final dividend. The dividend was recommended by the Board on May 13, 2026, and will be disbursed within 30 days of shareholder approval at the AGM. The cut-off date for remote e-voting is September 10, 2026.

Record date for FY 2025-26 final dividend fixed as Friday, September 4, 2026
67th AGM scheduled for Thursday, September 17, 2026, at 11:00 AM IST
Remote e-voting window open from September 13 to September 16, 2026 (Cut-off: September 10, 2026)
Dividend to be paid within 30 days post shareholder approval at the AGM

💡 Investors seeking eligibility for the final dividend should ensure share ownership before the ex-dividend date preceding September 4, 2026.

Oil India Issues Notice for 67th AGM, Email Registration & Dividend TDS Deadline of Sept 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 04:31 PM

Oil India Limited has released a newspaper notice regarding its upcoming 67th Annual General Meeting (AGM) for FY 2025-26. The announcement reminds shareholders to update their email IDs and KYC details with registrar KFin Technologies to receive AGM notices and dividend payouts electronically. Shareholders eligible for lower or zero TDS on final dividend must submit statutory declarations by September 7, 2026. Additionally, a special SEBI window for processing physical share transfers and dematerialisation is available until February 4, 2027.

Notice published for the 67th Annual General Meeting for the financial year 2025-26.
Shareholders must submit tax exemption forms (Form 15G/15H) for dividend TDS by September 7, 2026.
Special regulatory window for transfer and dematerialisation of physical securities valid from February 5, 2026, to February 4, 2027.
Mandatory electronic dividend payments require updated KYC (PAN, Bank details) with KFin Technologies.

💡 Eligible shareholders seeking lower or nil TDS on their dividend payout should submit valid tax forms online before September 7, 2026. Investors holding physical share certificates should utilize the special window to dematerialize before February 4, 2027.

Oil India Issues Notice for AGM Email Registration, Dividend TDS & Share Demat Window

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 04:02 PM

Oil India Limited published a statutory newspaper notice regarding its upcoming 67th Annual General Meeting (AGM). The company requested shareholders to register/update their email IDs and KYC details with its RTA, KFin Technologies, to receive the FY26 Annual Report and dividend communications. Additionally, the deadline for submitting documentation for TDS exemption/concession on dividends is set for September 7, 2026, alongside information on SEBI's special window for physical share dematerialisation valid until February 4, 2027.

Notice issued for the upcoming 67th Annual General Meeting of Oil India Limited
Shareholders must submit tax exemption documents for TDS on dividend by September 7, 2026
Special window for transfer and dematerialisation of physical securities active from 05.02.2026 to 04.02.2027
Mandatory KYC updation (PAN, bank details, nomination) required for physical security holders

💡 Physical shareholders and investors seeking lower/zero TDS on upcoming dividends should submit necessary declarations (Form 15G/15H/tax residency certificates) with KFin Technologies before September 7, 2026.

View All OIL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for FY25 stood at INR 31,975 Cr, a marginal 0.2% growth from INR 31,904 Cr in FY24. Standalone revenue for Q2 FY26 was INR 5,456 Cr, growing 9% quarter-on-quarter, though Q1 FY26 consolidated revenue of INR 7,929 Cr was down 2.3% YoY from INR 8,120 Cr.

Geographic Revenue Split

Primary revenue is domestic, centered in Northeast India (Assam-Arakan Basin). International operations span 7 countries including Gabon and Bangladesh, though these currently contribute less to the top line and are subject to exploration write-offs.

Profitability Margins

Consolidated PAT for FY25 was INR 7,040 Cr (22% net margin), up from INR 6,980 Cr in FY24. Standalone PAT for Q2 FY26 was INR 1,044 Cr, reflecting 28.8% growth quarter-on-quarter.

EBITDA Margin

Consolidated PBILDT margin was 41.86% in FY25 (INR 13,615 Cr) compared to 43.50% in FY24. Q1 FY26 margin moderated to 29.65% due to lower crude realizations and reduced Gross Refining Margins (GRM) of USD 5.02/bbl.

Capital Expenditure

Planned capex of INR 41,132 Cr for NRL refinery expansion and a new polypropylene plant. Routine E&P capex was INR 7,201 Cr in FY25, up 22% from INR 5,900 Cr in FY24.

Credit Rating & Borrowing

Maintains a CARE AAA; Stable rating. Overall gearing increased to 0.57x in March 2025 from 0.46x in March 2024 due to debt-funded expansion at NRL. Total debt/PBILDT stood at 2.24x in FY25.

⚙️ Operational Drivers

Raw Materials

Crude oil (for refining segment) and exploration consumables (bits, chemicals, casing pipes) for E&P activities.

Import Sources

Domestic sourcing from Assam and Rajasthan; international sourcing from Gabon and other overseas participating interests.

Key Suppliers

Self-sourced through E&P operations and GoI-allocated blocks; equipment supplied by global oilfield service providers.

Capacity Expansion

NRL refinery expanding from 3 MMTPA to 9 MMTPA by September 2026. Domestic exploration acreage increased 58% to 92,888 sq km in FY25.

Raw Material Costs

E&P production cost is efficient at approximately USD 32-34 per barrel of oil equivalent, representing roughly 40-50% of realization values.

Manufacturing Efficiency

NRL refinery operates with a high distillate yield and a Nelson Complexity Index of 9.20, making it one of India's most efficient units.

Logistics & Distribution

Operates a 1,157 km trunk pipeline for crude oil transportation from fields to refineries.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

Targeting 4 MMTPA crude oil and 5 BCMPA natural gas production by FY28. Strategy involves cumulative drilling of 237 wells (FY21-FY25) and a debt-funded INR 41,132 Cr expansion of NRL to triple refining capacity.

Products & Services

Crude oil, Natural Gas, LPG, Petrol (MS), Diesel (HSD), and Polypropylene.

Brand Portfolio

Oil India Limited (OIL), Numaligarh Refinery Limited (NRL).

New Products/Services

Launching a 360 KTPA Polypropylene plant integrated with the NRL expansion to diversify into petrochemicals.

Market Expansion

Expanding domestic exploration to 62 operating blocks and international presence in 7 countries including participating interests in oil/gas blocks.

Market Share & Ranking

Second-largest national oil company in India; contributes 11-13% of India's crude oil and 9% of natural gas production.

Strategic Alliances

Holds a 69.63% stake in NRL and a 5.16% equity stake in Indian Oil Corporation Limited (IOCL).

🌍 External Factors

Industry Trends

Industry is shifting toward integrated energy players; OIL is positioning itself by expanding refining capacity by 200% and targeting net-zero operational emissions by 2040.

Competitive Landscape

Operates as a dominant player in Northeast India with ONGC as the primary national competitor in the E&P segment.

Competitive Moat

Moat is sustained by majority GoI ownership (56.66%), strategic importance to India's energy security, and a 50% excise duty exemption for its Northeast refining operations.

Macro Economic Sensitivity

Highly sensitive to global crude prices; realizations expected to be range-bound at USD 62-65/bbl over the medium term.

Consumer Behavior

Increasing domestic demand for natural gas is driving the company to ramp up production toward its 5 BCMPA target.

Geopolitical Risks

Operations in 7 countries expose the company to resource nationalization risks and political unrest in overseas blocks.

⚖️ Regulatory & Governance

Industry Regulations

Operations governed by the Ministry of Petroleum & Natural Gas; subject to APM pricing for gas and GoI control over block allocations.

Environmental Compliance

Committed to Net-Zero carbon by 2040; implementing 'Project KAVACH' for safety and environmental awareness.

Taxation Policy Impact

Benefits from 50% excise duty exemption in the North-East; subject to windfall tax (Cess) on crude oil production during high-price cycles.

Legal Contingencies

Reported non-compliance with SEBI LODR Regulation 17(1) regarding the required number of Independent Directors on the Board, currently under Ministry review.