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IOC - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.7

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 3.7

Stock Code IOC Market Cap 2,09,743 Cr. Current Price 148 ₹ High / Low 189 ₹
Stock P/E 6.42 Book Value 133 ₹ Dividend Yield 4.71 % ROCE 7.26 %
ROE 6.41 % Face Value 10.0 ₹ DMA 50 166 ₹ DMA 200 158 ₹
Chg in FII Hold 0.88 % Chg in DII Hold -0.42 % PAT Qtr 12,126 Cr. PAT Prev Qtr 7,610 Cr.
RSI 28.6 MACD -5.84 Volume 2,15,64,213 Avg Vol 1Wk 2,29,94,778
Low price 120 ₹ High price 189 ₹ PEG Ratio -0.29 Debt to equity 0.74
52w Index 41.3 % Qtr Profit Var 420 % EPS 23.2 ₹ Industry PE 13.7

📊 Financial Overview

  • Revenue & Profitability: PAT rose sharply from ₹7,610 Cr. to ₹12,126 Cr. (QoQ), showing strong earnings momentum.
  • Margins: ROE at 6.41% and ROCE at 7.26% are modest, reflecting average profitability despite large revenues.
  • Debt: Debt-to-equity ratio of 0.74 is manageable, but leverage remains notable.
  • Cash Flow: EPS of ₹23.2 is decent, supporting shareholder returns.

💹 Valuation Metrics

  • P/E Ratio: 6.42 vs Industry PE of 13.7 → undervalued compared to peers.
  • P/B Ratio: Price ₹148 vs Book Value ₹133 → trading close to book value, showing fair valuation.
  • PEG Ratio: -0.29 → negative, suggesting growth mismatch with valuation.
  • Intrinsic Value: Appears undervalued relative to industry, but profitability metrics limit upside.

🏢 Business Model & Competitive Advantage

  • Indian Oil Corporation (IOC) operates in refining, marketing, and distribution of petroleum products.
  • Competitive advantage lies in scale, government backing, and integrated operations across the energy value chain.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: ₹140–155 range looks attractive given undervaluation and technical support.
  • Long-Term Holding: Suitable for dividend-focused investors. Monitor profitability consistency and global crude price volatility.

✅ Positive

  • Strong quarterly PAT growth (₹12,126 Cr. vs ₹7,610 Cr.).
  • Dividend yield of 4.71% provides steady income.
  • Undervalued P/E compared to industry average.
  • FII holdings increased (+0.88%).

⚠️ Limitation

  • ROE (6.41%) and ROCE (7.26%) are modest.
  • PEG ratio (-0.29) indicates valuation mismatch with growth.
  • Stock trading below DMA 50 & DMA 200, showing bearish technical trend.

📉 Company Negative News

  • DII holdings decreased (-0.42%).
  • RSI at 28.6 indicates oversold conditions.
  • Stock corrected from high of ₹189 to current ₹148.

📈 Company Positive News

  • Quarterly PAT growth of 420% shows strong recovery momentum.
  • FII inflows reflect rising foreign investor confidence.
  • Dividend yield continues to attract income-focused investors.

🏦 Industry

  • Industry PE at 13.7 highlights sector trades at higher multiples than IOC.
  • Energy sector growth supported by rising demand and government infrastructure spending.

🔎 Conclusion

  • IOC is undervalued relative to peers with strong dividend yield but modest profitability metrics.
  • Entry around ₹140–155 is favorable for long-term investors.
  • Hold for dividend income and exposure to energy sector, but monitor crude price volatility and profitability consistency.

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