Oil India Limited

NSE: OIL | BSE: 533106 | Sector: Energy – Oil Exploration & Production | Mid-Cap

Business Overview

Oil India Limited is a Maharatna Central Public Sector Enterprise (elevated to Maharatna status in August 2023), incorporated in 1959 and headquartered in Duliajan, Assam, with the Government of India holding a 56.66% promoter stake. The company is engaged in the exploration, development, and production of crude oil and natural gas, along with LPG production, crude oil and gas pipeline transportation, and renewable energy generation; its subsidiary Numaligarh Refinery Limited adds downstream refining capacity. Oil India has delivered a 5-year consolidated sales CAGR of 14% and profit CAGR of 12%, though margins have moderated recently amid softer crude realizations. Unlike asset-light industrial peers, the company carries meaningful debt (37,478 Cr as of FY26) to fund its E&P and refinery expansion capex. It reported FY26 consolidated revenue of around ₹33,946 Cr and consolidated net profit of 7,551 Cr for FY26, with promoter (Government of India) holding steady at 56.66% over the past several years.

Financial Summary

Technical Snapshot

Oil India has corrected sharply from its 52-week/all-time high zone and has been consolidating in a broad range over the past few months, well above its 52-week low of ₹384.60. The stock is currently trading around its key short-term moving averages, with technicals showing a mild bullish bias after the recent basing action. A move above the ₹450–460 resistance zone could open the way toward ₹490–500, while a break below ₹400 would expose the stock to a retest of the 384–390 support zone. Near-term triggers include crude oil price movement, Q1 FY27 earnings (due late July 2026), and updates on the Numaligarh refinery expansion and offshore exploration programs.