Q3 2026 Indian Oil Corporation Ltd Earnings Call Transcript
Key Points
- Indian Oil Corp Ltd (BOM:530965) reported a consolidated revenue of INR 27,036.78 crore for the first nine months of FY26, reflecting strong financial performance.
- The company achieved mechanical completion of the Numaligarh-Siliguri product pipeline expansion, increasing capacity from 1.72 million metric tons per annum to 5.5 million metric tons per annum.
- The Numaligarh refinery's capacity utilization reached 100.31% in Q3 FY26, demonstrating operational efficiency.
- The company drilled 19 new wells in Q3, with a cumulative total of 51 wells for the nine-month period, achieving 65% of its annual target.
- Indian Oil Corp Ltd declared a dividend of INR 7 per fully paid equity share, indicating shareholder returns.
- The average crude oil price realization for the nine months ended December 31, 2025, was $65.73 per barrel, down from $79.35 per barrel in the previous nine months, impacting revenue.
- Natural gas sales experienced a decline due to reduced uptake from major customers, leading to temporary shutdowns.
- Contractual costs increased significantly, attributed to deeper well drilling and enhanced drilling and workover activities.
- The company's standalone operating revenue for Q3 FY26 was INR 4,916 crore, reflecting a decline compared to previous periods.
- The company's exploration and development efforts have led to increased costs, raising concerns about future financial impacts.
Indian Oil Corporation Limited Q3 FY26 earnings 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. Vratharanjan from Antique Stockbroking Limited.
Thank you and over to you, sir.
Thank you, [Suna]. Good morning, everyone. I'd like to extend a very warm welcome to all the participants and the management of Oil India Limited to this call. We have with us Dr. Ranjit Rath, Chairman Managing Director; Mr. Abhijit Majumdar, Director of Finance; Mr. Soloma Yomdo, the Exploration and Development; Mr. Trailukya Borgohain, Director of Operations; Mr. Bhaskar Jyoti Phukan, MD in NRL; Mr. Ajay Kumar Sahu, ED Company secretary; Mr. Abhijit Das, CGM [Deane] and Mr. Ragunath Mishra, CGM Business Development.
Once again, I would like to welcome a special welcome to Doctor [Daniel Chat]. For the first time I think he is on the call. I'll hand over the call to
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