Financials Indian Oil Corporation Limited

Equities

IOC

INE242A01010

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. 12:43:51 30/05/2024 BST 5-day change 1st Jan Change
162 INR -1.88% Intraday chart for Indian Oil Corporation Limited -3.57% +24.72%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,491,962 747,790 843,279 1,092,085 1,072,805 2,272,996 - -
Enterprise Value (EV) 1 2,325,578 1,759,892 1,791,329 2,214,160 2,322,013 3,381,745 3,425,003 3,508,480
P/E ratio 8.85 x -84.2 x 3.9 x 4.35 x 11 x 5.54 x 9.8 x 9.64 x
Yield 5.68% 5.21% 13.1% 10.6% 3.85% 7.15% 3.98% 4.31%
Capitalization / Revenue 0.28 x 0.15 x 0.23 x 0.19 x 0.13 x 0.3 x 0.29 x 0.29 x
EV / Revenue 0.44 x 0.36 x 0.49 x 0.38 x 0.28 x 0.44 x 0.43 x 0.44 x
EV / EBITDA 6.6 x 10.7 x 4.29 x 4.64 x 7.56 x 4.47 x 6.79 x 6.65 x
EV / FCF -25 x -7.73 x 6.88 x 125 x -78.5 x 9.97 x 30.1 x 31.1 x
FCF Yield -3.99% -12.9% 14.5% 0.8% -1.27% 10% 3.33% 3.21%
Price to Book 1.34 x 0.81 x 0.75 x 0.83 x 0.77 x 1.29 x 1.19 x 1.1 x
Nbr of stocks (in thousands) 13,742,361 13,737,724 13,771,561 13,771,561 13,771,561 13,771,561 - -
Reference price 2 108.6 54.43 61.23 79.30 77.90 165.0 165.0 165.0
Announcement Date 17/05/19 24/06/20 19/05/21 17/05/22 16/05/23 30/04/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,281,489 4,843,623 3,639,497 5,893,357 8,417,559 7,763,518 7,892,517 7,950,098
EBITDA 1 352,227 164,049 417,818 477,417 306,990 755,908 504,121 527,527
EBIT 1 267,162 65,500 308,403 353,941 175,179 597,247 333,688 341,908
Operating Margin 5.06% 1.35% 8.47% 6.01% 2.08% 7.69% 4.23% 4.3%
Earnings before Tax (EBT) 1 259,269 -71,770 307,507 342,886 150,377 572,878 312,482 317,937
Net income 1 173,767 -8,931 216,382 251,022 97,921 417,297 234,749 240,171
Net margin 3.29% -0.18% 5.95% 4.26% 1.16% 5.38% 2.97% 3.02%
EPS 2 12.27 -0.6467 15.71 18.23 7.110 30.30 16.83 17.13
Free Cash Flow 1 -92,843 -227,736 260,286 17,666 -29,564 339,233 113,933 112,791
FCF margin -1.76% -4.7% 7.15% 0.3% -0.35% 4.37% 1.44% 1.42%
FCF Conversion (EBITDA) - - 62.3% 3.7% - 44.88% 22.6% 21.38%
FCF Conversion (Net income) - - 120.29% 7.04% - 81.29% 48.53% 46.96%
Dividend per Share 2 6.167 2.833 8.000 8.400 3.000 12.00 6.569 7.108
Announcement Date 17/05/19 24/06/20 19/05/21 17/05/22 16/05/23 30/04/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 - - 1,155,025 - 1,653,390 1,752,920 2,234,144 2,087,539 2,057,153 2,038,723 1,985,508 2,092,188 1,850,520 2,342,026 -
EBITDA 1 100,696 149,079 118,456 - 111,040 142,726 54,185 32,769 44,623 176,994 237,163 160,542 114,271 149,766 -
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - 80,161 98,914 13,436 -5,266 - 137,586 - 128,900 - 89,500 -
Net income 1 43,591 90,265 61,097 - 61,431 66,457 -2,794 -9,916 7,732 102,898 144,370 67,496 64,461 80,702 -
Net margin - - 5.29% - 3.72% 3.79% -0.13% -0.47% 0.38% 5.05% 7.27% 3.23% 3.48% 3.45% -
EPS 2 3.170 6.550 - - - 4.827 - -0.7200 - - 10.48 3.181 5.071 5.800 -
Dividend per Share 2 2.000 1.000 - 3.333 2.667 2.400 - - - 3.000 1.832 1.832 2.229 2.229 1.949
Announcement Date 29/01/21 19/05/21 30/07/21 30/10/21 31/01/22 17/05/22 29/07/22 29/10/22 31/01/23 16/05/23 28/07/23 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 833,616 1,012,102 948,051 1,122,075 1,249,209 1,071,565 1,152,007 1,235,484
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.367 x 6.17 x 2.269 x 2.35 x 4.069 x 1.418 x 2.285 x 2.342 x
Free Cash Flow 1 -92,843 -227,736 260,286 17,666 -29,564 339,233 113,933 112,791
ROE (net income / shareholders' equity) 15.1% 1.98% 20.9% 20.2% 7.17% 25.8% 12.9% 12.3%
ROA (Net income/ Total Assets) 5.51% 0.62% 6.32% 6.56% 2.3% 9.03% 7.85% 8.05%
Assets 1 3,154,181 -1,439,852 3,423,264 3,827,726 4,261,891 4,620,404 2,990,439 2,983,491
Book Value Per Share 2 81.00 67.60 81.20 95.70 101.0 130.0 139.0 150.0
Cash Flow per Share 2 9.980 6.270 36.20 17.80 21.50 51.60 31.30 36.60
Capex 1 234,174 314,267 238,332 228,038 326,001 371,754 309,508 313,916
Capex / Sales 4.43% 6.49% 6.55% 3.87% 3.87% 4.79% 3.92% 3.95%
Announcement Date 17/05/19 24/06/20 19/05/21 17/05/22 16/05/23 30/04/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
30
Last Close Price
165 INR
Average target price
158.6 INR
Spread / Average Target
-3.91%
Consensus
  1. Stock Market
  2. Equities
  3. IOC Stock
  4. Financials Indian Oil Corporation Limited