Q2 2026 Indian Oil Corporation Ltd Earnings Call Transcript
Key Points
- Indian Oil Corp Ltd (BOM:530965) reported a significant increase in profit after tax for the quarter, reaching INR7,610 crores compared to INR5,689 crores in the previous quarter.
- The company received a compensation approval of INR14,486 crores from the government for under-recoveries on domestic LPG sales, which will be disbursed in monthly installments.
- Indian Oil's Project SPRINT has started showing improvements, enhancing operational and financial performance.
- The company achieved a 21% growth in total lube sales and an 11% growth in automotive lubes, with a 9% market share growth among PSUs.
- Indian Oil's Paradip refinery commissioned a new hydrogen generation unit, supporting cleaner fuel production and sustainability goals.
- Revenue from operations decreased to INR2,02,992 crores from INR2,18,608 crores in the previous quarter, impacted by above-normal rainfall affecting sales volume.
- Pipeline capacity utilization dropped to 67% from 74% in the previous quarter, with pipeline throughput also decreasing.
- The sale of petrochemical products, including exports, decreased to 0.77 MMT from 0.83 MMT in the preceding quarter.
- The company experienced a loss of INR40 per LPG cylinder, although this was an improvement from INR100 per cylinder in the previous quarter.
- Borrowings increased by INR6,692 crores, reaching INR1,28,239 crores as of September 30, 2025, primarily due to working capital changes and foreign exchange translation.
Ladies and gentlemen, good day, and welcome to Indian Oil Corporation Limited 2Q results conference call hosted by Antique Stock Broking Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Varatharajan. Thank you, and over to you, sir.
Thank you, Swapnali. Very good afternoon, everyone. At the outset, I would like to welcome all the participants and the top management of Indian Oil Corporation to this 2Q results call. We have with us Mr. Anuj Jain, Director, Finance; Mr. Nitin Kumar, CGM, I/C Corporate Finance & Treasury; Mr. Pramod Jain, CGM Treasury; Mr. Prabhat Himatsingka, CGM Finance & Treasury.
I'd like to hand over the call to Mr. Anuj Jain for his opening remarks, and we'll then move on to the Q&A.
Yes. Thank you, Mr. Varatharajan. Dear investors and analysts, a
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