Indian Oil (NSE:IOC) EBIT: ₹657,800 Mil (TTM As of Mar. 2026)


NSE:IOC Indian Oil Corp Ltd NSE:IOC
83 GF Score
Price ₹146.30
GF Value ₹154.47
Valuation Fairly Valued
! 5 Warning Signs
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What is Indian Oil EBIT?

Indian Oil NSE:IOC +2.19% 83 EBIT is ₹657,800 Mil as of Mar. 2026. GuruFocus rates NSE:IOC with a GF Score™ of 83/100 and a GF Value™ of ₹154.47 (Fairly Valued). The stock has 5 warning signs investors should review.

Indian Oil's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ₹216,712 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ₹657,800 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Indian Oil's annualized ROC % for the quarter that ended in Mar. 2026 was 11.63%. Indian Oil's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 30.16%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Indian Oil's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.04%.

Indian Oil  (NSE:IOC) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Indian Oil's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=796394.8 * ( 1 - 23.32% )/( (0 + 5250030.5)/ 1 )
=610675.53264/5250030.5
=11.63 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=0 - 0 - ( 0 - max(0, 0 - 0+0))
=0

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5289549.6 - 583469.4 - ( 162096.6 - max(0, 2112058 - 1568107.7+162096.6))
=5250030.5

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Indian Oil's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=866846.4/( ( (0 + max(0, 0)) + (2873696.6 + max(-31329.8, 0)) )/ 1 )
=866846.4/( ( 0 + 2873696.6 )/ 1 )
=866846.4/2873696.6
=30.16 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(146348.3 + 1171327.2 + 81349.8) - (583469.4 + 0 + 846885.7)
=-31329.8

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Indian Oil's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=657799.6/3282360.075
=20.04 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Indian Oil EBIT Related Terms

Indian Oil EBIT Historical Data

* Premium members only.

The historical data trend for Indian Oil's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Indian Oil EBIT Chart

Indian Oil Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 385,853.90 216,848.90 648,716.10 263,222.00 657,799.60

Indian Oil Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 122,193.10 108,205.30 133,734.00 199,148.70 216,711.60

NSE:IOC vs VLO, MPC, PSX: EBIT Comparison

For the Oil & Gas Refining & Marketing subindustry, Indian Oil's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Indian Oil EV-to-EBIT vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Indian Oil's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Indian Oil's EV-to-EBIT falls into.


NSE:IOC
83GF Score
Indian Oil Corp Ltd NSE:IOC
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Indian Oil EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹657,800 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ₹657,800 Mil mean?
Indian Oil (NSE:IOC) has a EBIT of ₹657,800 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Indian Oil.
Is Indian Oil's EBIT too high?
Indian Oil's current EBIT is ₹657,800 Mil. Overall, Indian Oil has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Indian Oil's EBIT compare to VLO and MPC?
Indian Oil's EBIT of ₹657,800 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Oil & Gas company?
A good EBIT depends on the Oil & Gas industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Indian Oil. Indian Oil's current EBIT is ₹657,800 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indian Oil stock overvalued right now?
Based on GuruFocus' analysis, Indian Oil (NSE:IOC) is currently considered Fairly Valued. The stock's GF Value™ is ₹154.47, compared to a current price of ₹146.30 — trading 5.3% below its estimated fair value. The current EBIT is ₹657,800 Mil. Indian Oil's overall GF Score™ is 83/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Indian Oil (NSE:IOC), the current EBIT is ₹657,800 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Indian Oil (NSE:IOC) Overvalued in 2026?

Based on GuruFocus' analysis, Indian Oil stock appears to be undervalued. The current stock price of ₹146.30 is trading 5.3% below its estimated GF Value™ of ₹154.47. GuruFocus considers Indian Oil to be Fairly Valued.

Key valuation signals for NSE:IOC:

  • EBIT: ₹657,800 Mil
  • GF Value™: ₹154.47 vs. price of ₹146.30 (5.3% below fair value)
  • GF Score™: 83/100 with 5 warning signs

No single metric tells the full story. See the NSE:IOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Indian Oil Business Description

Industry EnergyOil & Gas
Other Exchanges 530965:India
Address J.B. Tito Marg, 3079/3, Sadiq Nagar, New Delhi, IND, 110049
Indian Oil Corp Ltd conducts business across the entire hydrocarbon value chain, from refining, pipeline transportation and marketing, to exploration and production of crude oil and gas, petrochemicals, gas marketing, alternative energy sources, and globalisation of downstream operations. The group is engaged in the following business segments: Sale of Petroleum Products, Sale of Petrochemicals, Sale of Gas, and the Other operating segment, which includes oil and gas exploration activities, explosives and cryogenic business, and windmill and solar power generation. The majority of its revenue is generated from the sale of petroleum products such as motor spirit, high speed diesel, liquified petroleum gas, aviation turbine fuel, and others. Geographically, it derives key revenue from India.
83GF Score

Get the complete analysis for NSE:IOC

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹146.30
Price
₹154.47
GF Value