Indian Oil Corporation Limited has released its investor handout for the quarter ended June 30, 2026. The company reported a Profit Before Tax (PBT) of (₹3,274) crore and a Profit After Tax (PAT) of (₹2,661) crore for the period. EBITDA contribution stood at ₹2,332 crore. The handout also details operational highlights and capital expenditure updates.
Indian Oil Corporation Q1 FY 2026-27 Financial Highlights
Indian Oil Corporation Limited has published its investor handout for the first quarter of the financial year 2026-27, covering the period ending June 30, 2026. The financial results indicate a challenging quarter with a significant loss before tax.
Standalone Financial Performance
Key financial figures for the quarter Q1 2026-27 are as follows:
- Profit Before Tax (PBT): (₹3,274) crore
- Profit After Tax (PAT): (₹2,661) crore
- EBITDA Contribution: ₹2,332 crore
Comparatively, for the fourth quarter of FY 2025-26 (Q4 2025-26), the company reported a Profit Before Tax of ₹15,322 crore and Profit After Tax of ₹11,378 crore, with an EBITDA contribution of ₹22,345 crore.
Exchange Fluctuation and Interest
The company experienced an exchange fluctuation loss on Crude Liability of (₹182) crore in Q1 2026-27, compared to a loss of (₹1,375) crore in Q4 2025-26. An exchange fluctuation gain on Other than Crude Liability was ₹81 crore in Q1 2026-27, against a loss of (₹2,950) crore in Q4 2025-26.
Interest Expenditure for Q1 2026-27 was ₹1,610 crore, down from ₹1,849 crore in Q4 2025-26. Interest Income was ₹252 crore, compared to ₹342 crore in the previous comparable period.
Debt and GRM
The Debt Level reported was ₹1,41,453 crore for Q1 2026-27, an increase from ₹1,10,668 crore in Q4 2025-26. The Gross Refining Margin (GRM), net of SAED, stood at 15.59 US$/bbl.
Operational Highlights: Refinery and Pipeline
Refinery Operations
In refinery operations for Q1 2026-27:
- Throughput (MMT): 19.2
- Capacity Utilization (%): 109.4%
- Distillate Yield (%): 80.2%
- Fuel & Loss (%): 8.0%
- Utilization of High Sulphur crude (%): 48.9%
Compared to Q4 2025-26, throughput was 19.7 MMT, capacity utilization was 113.9%, distillate yield was 79.0%, fuel & loss was 8.1%, and utilization of high sulphur crude was 61.3%.
Pipeline Operations
For pipeline operations in Q1 2026-27:
- Throughput (MMT): 28.5
- Capacity Utilization (%): 79.9%
In Q4 2025-26, throughput was 27.7 MMT and capacity utilization was 78.3%.
Operational Highlights: Marketing
Marketing Operations
Petroleum Products sales (in MMT) for Q1 2026-27 and Q4 2025-26:
- Inland Sales (Total): 22.542 (Q1 26-27) vs 23.267 (Q4 25-26)
- – HSD: 10.866 vs 9.938
- – MS: 4.522 vs 4.100
- – LPG: 3.085 vs 3.997
- – ATF: 1.212 vs 1.279
- – FO/LSHS: 0.880 vs 0.916
- – Lubes & Greases: 0.197 vs 0.255
- – Others: 1.780 vs 2.782
- Exports Petroleum: 0.939 vs 1.260
- Sub-Total (a+b): 23.481 vs 24.527
Other Products sales (in MMT) for Q1 2026-27 and Q4 2025-26:
- Gas: 1.873 vs 1.814
- Petrochemicals:
- – Domestic: 0.748 vs 0.883
- – Exports: 0.020 vs 0.018
- – Others: 0.089 vs 0.101
- Sub-Total (c): 2.730 vs 2.816
Total Sales (a+b+c) were 26.211 MMT in Q1 2026-27, compared to 27.343 MMT in Q4 2025-26.
Capex and Major Projects
The company also provided an update on its Capex and Major Projects as of June 30, 2026. Key projects and their status include:
- Panipat Refinery Expansion (15 MMTPA to 25 MMTPA): Gross Approved Cost ₹38,231 crore, Physical Progress 94.0%, Expected Commissioning Dec’26.
- Gujarat Refinery Expansion (13.7 MMTPA to 18 MMTPA): Gross Approved Cost ₹18,936 crore, Physical Progress 89.2%, Expected Commissioning Nov’26.
- Barauni Refinery Expansion (6 MMTPA to 9 MMTPA): Gross Approved Cost ₹18,113 crore, Physical Progress 91.6%, Expected Commissioning Dec’26.
- PX-PTA Complex at Paradip Refinery: Gross Approved Cost ₹13,805 crore, Physical Progress 94.6%, Expected Commissioning Aug’26.
- New Mundra Panipat Crude Oil Pipeline, GJ, HR and RJ: Gross Approved Cost ₹9,028 crore, Physical Progress 94.1%, Under Commissioning (Mechanically completed in Jul’26).
- New R&D Campus-II, Faridabad, Haryana: Gross Approved Cost ₹3,220 crore, Physical Progress 65.3%, Expected Commissioning Oct’26.
- Poly Butadiene Rubber Plant at Panipat, Haryana: Gross Approved Cost ₹2,949 crore, Physical Progress 88.7%, Expected Commissioning Dec’26.
Segment-wise Capex incurred during Q1 FY 2026-27 (Provisional) totalled ₹6,461 crore, with a Capex Target for FY 2026-27 of ₹32,700 crore.
Source: BSE
