Q1 2026 Indian Oil Corporation Ltd Earnings Call Transcript
Key Points
- Indian Oil Corp Ltd (BOM:530965) reported a profit after tax of INR5,689 crore for Q1 FY26, a significant increase from INR2,643 crore in the same quarter of the previous year.
- Revenue from operations increased to INR218,608 crore, marking growth from the previous quarter and the corresponding quarter of the previous year.
- The company achieved its highest-ever quarterly sales, demonstrating strong operational performance and efficiency.
- Indian Oil Corp Ltd is progressing well with its major expansion projects, which are expected to increase refining capacity from 80.8 million metric tonnes per annum to 98 million metric tonnes per annum by 2026.
- The company is investing in clean energy initiatives, including electric mobility infrastructure and green hydrogen projects, aligning with its goal to increase its share of the national energy basket from 9% to 12.5% by 2050.
- The profit after tax declined from the preceding quarter due to inventory losses amounting to INR6,500 crore.
- The reported gross refining margin (GRM) of $2.5 per barrel was lower than the previous quarter, primarily due to inventory losses.
- Petrochemical spreads remain at subdued levels due to a weak global economic outlook and the addition of new capacities.
- The company's debt-to-equity ratio stands at 0.66, with borrowings at INR1,21,547 crore as of June 30, 2025.
- There is concern over the market cap of Indian Oil Corp Ltd, which has not improved significantly despite strong operational performance and profitability.
Ladies and gentlemen, good day, and welcome to the Indian Oil Corporation Limited Q1 FY26 results conference call, hosted by Antique Stockbroking Limited. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Varatharajan Sivasankaran from Antique Stockbroking Limited. Thank you, and over to you, sir.
Hello, and a very good morning to everyone. I would like to welcome all the participants to this 1Q FY26 Indian Oil Corporation conference call. We have with us the management represented by Mr. Anuj Jain, Director of Finance; Mr. Nitin Kumar, CGM, Corporate Finance and Treasury; Mr. Pramod Jain, CGM Treasury; Mr. Prabhat Himatsingka, CGM, Finance and Treasury. I would now to like hand over the call to Anuj Jain for his opening remarks, and then we can move to Q&A. Sir, the floor is yours.
Yes.
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