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| 29 November, 2020, 03:42 PM IST | E-Paper
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Indian Oil Corporation Ltd.

  • 84.60-1.00 (-1.17%)
  • Volume: 3,18,77,290
  • Closed
  • Last Updated On: 27 Nov, 2020, 03:59 PM IST
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Insights

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  • The second quarter results of the company were better due to higher inventory gains. But the core gross-refining margin still remains weak. The best operating scenario for the company would be stable oil prices which would not lead to volatile inventory gains or losses.

  • The retail outlets of the company stand at 29,085. It added 994 outlets to its tally in the first half of FY 21. There is scope for improvement in operation of these outlets, both by way of rationalisation and by addition of value-added service

  • Given the planned expansion of its refineries, the capital expenditure of the company would remain high in the near term, leading to some financial ratios remaining strained.

  • Would the divestment of BPCL push up the valuation matrix of state-owned oil companies or would it come under further pressure as shareholder make a switch.

InsightsIndian Oil Corporation Ltd.

  • Inventory gains

    The second quarter results of the company were better due to higher inventory gains. But the core gross-refining margin still remains weak. The best operating scenario for the company would be stable oil prices which would not lead to volatile inventory gains or losses.

  • Outlet expansion

    The retail outlets of the company stand at 29,085. It added 994 outlets to its tally in the first half of FY 21. There is scope for improvement in operation of these outlets, both by way of rationalisation and by addition of value-added service

  • Higher capex

    Given the planned expansion of its refineries, the capital expenditure of the company would remain high in the near term, leading to some financial ratios remaining strained.

  • Factor to watch

    Would the divestment of BPCL push up the valuation matrix of state-owned oil companies or would it come under further pressure as shareholder make a switch.

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Key Metrics

  • PE Ratio

    PE Ratio

    This is a ratio arrived at by dividing the current market price of a stock by its latest (annual or annualized) earnings per share. Here we have taken the TTM (trailing twelve months) adjusted earnings per share.

    (x)
    24.30
  • EPS - TTM

    EPS - TTM

    Earnings per share (TTM) tells the profit after tax earned on a per share basis by a stock over the last twelve months or four quarters.

    (₹)
    3.48
  • MCap

    MCap

    MCap or Market capitalization of a stock is calculated by multiplying the total number of shares outstanding of that particular stock with its current market price.

    (₹ Cr.)
    79,643.78
  • Sectoral MCap Rank

    Sectoral MCap Rank

    This is the ranking of a company within its sector based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned.

    3
  • PB Ratio

    PB Ratio

    Price to Book represents the ratio of current market price of a stock to its book value per share. The book value itself is arrived at by dividing the net worth of a company by the total number of shares outstanding of the company at that time.

    (x)
    0.81
  • Div Yield

    Dividend Yield

    Dividend Yield calculates the amount of full year dividend declared by a company as a percentage of the current market price of a stock. All other things being equal, higher the dividend yield of the stock, the better it is for investors.

    (%)
    5.02
  • Face Value

    Face Value

    Face value of a stock is the value ascribed to the stock as per the balance sheet of the company. The dividend declared by a company is usually declared as a percentage of face value.

    (₹)
    10.00
  • Beta

    Beta

    1 Month1.33
    3 Months1.52
    6 Months1.46
    1 Year1.41
    3 Years1.20

    1.33
  • VWAP

    VWAP

    Volume Weighted Average Price represents the average price of a security over a particular time period (example one trading day) weighted by the volume traded at each price point.

    (₹)
    85.00
  • 52W H/L

    52W H/L

    This represents the 52 week high and low price of the security. It is also the 1 year high and low of the security. This represents the highest and lowest price touched by the security during the past 52 weeks or 1 year including today.

    (₹)
    133.70 / 71.15

Returns

  • 1 Day-1.17%
  • 1 Week-0.29%
  • 1 Month8.32%
  • 3 Months-2.98%
  • 1 Year-35.47%
  • 3 Years-56.9%
  • 5 Years-19.32%

Financials

  • Income (P&L)
  • Balance Sheet
  • Cash Flow
  • Ratios
  • MD&A
  • Insights

    • Quarterly Topline Performance

      Company witnessed QoQ revenue growth of 35.4%, which is highest in the last 3 years. (Source: Consolidated Financials)
    • Topline Contraction

      Sales de-grew by 8.24%. Company witnessed revenue contraction for the first time in last 3 years. (Source: Consolidated Financials)
    Quarterly | AnnualSep 2020Jun 2020Mar 2020Dec 2019Sep 2019
    Total Income82,862.4261,198.301,19,255.601,24,408.061,11,577.79
    Total Income Growth (%)35.40-48.68-4.1411.50-15.41
    Total Expenses74,168.8556,882.821,35,076.111,19,207.321,09,729.20
    Total Expenses Growth (%)30.39-57.8913.318.64-12.29
    EBIT8,693.574,315.48-15,820.515,200.741,848.59
    EBIT Growth (%)101.45--404.20181.34-72.84
    PAT6,025.812,350.25-7,782.552,683.87468.04
    PAT Growth (%)156.39--389.97473.43-87.48
    EBIT Margin (%)10.497.05-13.274.181.66
    Net Profit Margin (%)7.273.84-6.532.160.42
    Basic EPS (₹)6.562.43-8.482.920.51
    Quarterly | AnnualSep 2020Jun 2020Mar 2020Dec 2019Sep 2019
    Total Income87,147.8863,038.791,20,161.341,25,184.941,12,337.73
    Total Income Growth (%)38.24-47.54-4.0111.44-14.99
    Total Expenses78,586.9759,238.871,31,921.061,20,151.091,10,215.00
    Total Expenses Growth (%)32.66-55.109.809.02-12.01
    EBIT8,560.913,799.92-11,759.725,033.852,122.73
    EBIT Growth (%)125.29--333.61137.14-69.18
    PAT6,227.311,910.84-5,185.322,339.02563.42
    PAT Growth (%)225.89--321.69315.15-84.33
    EBIT Margin (%)9.826.03-9.794.021.89
    Net Profit Margin (%)7.153.03-4.321.870.50
    Basic EPS (₹)6.782.08-5.652.550.61
    Quarterly | Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Revenue4,87,152.555,30,871.784,24,911.703,59,241.203,48,231.23
    Total Revenue Growth (%)-8.2424.9418.283.16-23.25
    Total Expenses4,84,391.015,06,329.263,91,372.633,31,925.463,31,769.23
    Total Expenses Growth (%)-4.3329.3717.910.05-26.00
    Profit after Tax (PAT)-893.1417,376.7022,189.4519,849.4912,022.45
    PAT Growth (%)-105.14-21.6911.7965.10144.76
    Operating Profit Margin (%)1.925.578.868.735.75
    Net Profit Margin (%)-0.183.295.265.583.47
    Basic EPS (₹)-0.9718.4123.4120.9425.37
    Quarterly | Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Revenue4,89,827.845,30,829.774,27,453.323,64,142.773,49,498.59
    Total Revenue Growth (%)-7.7224.1817.394.19-20.87
    Total Expenses4,82,217.315,05,702.853,94,889.043,37,821.533,34,036.30
    Total Expenses Growth (%)-4.6428.0616.891.13-23.27
    Profit after Tax (PAT)1,313.2316,894.1521,346.1219,106.4011,242.23
    PAT Growth (%)-92.23-20.8611.7269.95113.20
    Operating Profit Margin (%)2.795.578.498.265.34
    Net Profit Margin (%)0.273.205.035.303.23
    Basic EPS (₹)1.4317.8922.5220.1623.72

    All figures in Rs Cr, unless mentioned otherwise

  • Insights

    • Trailing Behind 4-year Average ROA

      Company witnessed ROA of -0.27% in last FY which is lower than its 4-year average ROA of 4.74% along with asset turnover ratio of 146.89. (Source: Consolidated Financials)
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Assets3,29,736.833,35,155.112,95,672.292,73,561.042,31,555.43
    Total Assets Growth (%)-1.6213.358.0818.14-0.94
    Total Liabilities2,33,462.652,20,808.511,79,647.251,69,560.381,40,149.78
    Total Liabilities Growth (%)5.7322.915.9520.99-14.46
    Total Equity96,274.181,14,346.601,16,025.041,04,000.6691,405.65
    Total Equity Growth (%)-15.80-1.4511.5613.7830.76
    Current Ratio (x)0.680.810.760.730.87
    Total Debt to Equity (x)1.320.820.550.580.54
    Contingent Liabilities47,749.0347,434.9534,284.6532,687.3023,760.11
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Total Assets3,11,090.563,15,707.722,80,739.912,59,213.272,20,504.17
    Total Assets Growth (%)-1.4612.468.3017.550.30
    Total Liabilities2,17,321.692,07,050.211,70,568.891,59,484.551,32,369.86
    Total Liabilities Growth (%)4.9621.396.9520.48-12.85
    Total Equity93,768.871,08,657.511,10,171.0299,728.7288,134.31
    Total Equity Growth (%)-13.70-1.3710.4713.1629.70
    Current Ratio (x)0.690.810.760.720.88
    Total Debt to Equity (x)1.200.770.500.510.48
    Contingent Liabilities48,131.4046,827.5839,238.8044,531.5644,150.49

    All figures in Rs Cr, unless mentioned otherwise

  • Insights

    • Debt Coverage Capability

      Company will take 14.56 years to pay off its debt obligations with latest operating cash flow of Rs 8653.26 cr. (Source: Consolidated Financials)
    • Increase in Cash from Investing

      Company has used Rs 29096.97 cr for investing activities which is an YoY increase of 21.47%. (Source: Consolidated Financials)
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Net Cash flow from Operating Activities8,653.2614,133.0429,081.6628,216.1225,624.23
    Net Cash used in Investing Activities-29,096.97-23,954.94-17,118.70-17,684.41-13,610.44
    Net Cash flow from Financing Activities20,945.2310,436.45-11,973.56-10,937.06-11,889.71
    Net Cash Flow501.52614.55-10.60-405.35124.08
    Closing Cash & Cash Equivalent1,434.61933.28318.90329.50734.85
    Closing Cash & Cash Equivalent Growth (%)53.72192.66-3.22-55.16-39.82
    Total Debt/ CFO (x)14.566.562.142.081.88
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Net Cash flow from Operating Activities8,639.3613,489.5326,423.8027,799.4222,944.26
    Net Cash used in Investing Activities-26,877.43-21,839.00-15,778.68-14,733.90-12,416.75
    Net Cash flow from Financing Activities18,735.328,334.49-10,644.33-13,274.57-10,367.09
    Net Cash Flow497.25-14.980.79-209.05160.42
    Closing Cash & Cash Equivalent535.5638.5053.6552.86261.91
    Closing Cash & Cash Equivalent Growth (%)1,291.06-28.241.49-79.82134.06
    Total Debt/ CFO (x)13.056.172.101.811.85

    All figures in Rs Cr, unless mentioned otherwise

  • Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Return on Equity (%)-0.9315.4519.4819.4413.36
    Return on Capital Employed (%)5.5516.8723.9722.0313.54
    Return on Assets (%)-0.275.187.507.255.19
    Interest Coverage Ratio (x)1.426.029.808.345.75
    Asset Turnover Ratio (x)146.89157.58142.55129.90149.44
    Price to Earnings (x)-84.038.607.549.247.76
    Price to Book (x)0.791.331.471.801.04
    EV/EBITDA (x)10.396.405.136.435.53
    EBITDA Margin (%)3.967.1810.6810.667.40
    Annual FY 2020 FY 2019 FY 2018 FY 2017 FY 2016
    Return on Equity (%)1.4015.5419.3719.1512.75
    Return on Capital Employed (%)8.5918.1424.8622.7313.20
    Return on Assets (%)0.425.357.607.375.09
    Interest Coverage Ratio (x)2.276.8310.448.646.00
    Asset Turnover Ratio (x)156.30167.14151.04138.85157.44
    Price to Earnings (x)57.148.857.839.608.30
    Price to Book (x)0.801.371.521.841.06
    EV/EBITDA (x)8.376.295.176.495.79
    EBITDA Margin (%)4.597.0010.1610.006.73
  • MANAGEMENT DISCUSSION AND ANALYSIS (FY 2019-20)

    • Axle load

      In July/August 2018, the Government had increased the axle load limit for all trucks. This move helped increase the freight capacity of the entire population of trucks in India by 20-25%, equivalent to three years of incremental freight demand, thus negatively impacting HSD demand.

    • Oil production matrix

      Domestic crude oil production during 2019-20 was lower by 5.9% at 32.2 MMT, as the diminishing phase of many fields continued. Crude oil and condensate production by public sector entities decreased by 2.5% while production by private sector entities decreased by 14.5% in 2019-20 as compared to the previous year. However, improvement in production levels is expected in the near future with the Government’s thrust on ramping up domestic production through investment-friendly policies.

    • Volatility in crude oil price - challenges of cash management

      The heightened volatility in crude oil prices in the recent times has also come as a major challenge for the Company. Oil price volatility, exchange rate fluctuation along with lower demand, made cash management challenging, affected the working capital cycles, and led to short-term debt build-up.

Financial InsightsIndian Oil Corporation Ltd.

  • Income (P&L)
  • Balance Sheet
  • Cash Flow
    • Quarterly Topline Performance

      Company witnessed QoQ revenue growth of 35.4%, which is highest in the last 3 years. (Source: Consolidated Financials)

    • Topline Contraction

      Sales de-grew by 8.24%. Company witnessed revenue contraction for the first time in last 3 years. (Source: Consolidated Financials)

    • Trailing Behind 4-year Average ROA

      Company witnessed ROA of -0.27% in last FY which is lower than its 4-year average ROA of 4.74% along with asset turnover ratio of 146.89. (Source: Consolidated Financials)

    • Debt Coverage Capability

      Company will take 14.56 years to pay off its debt obligations with latest operating cash flow of Rs 8653.26 cr. (Source: Consolidated Financials)

    • Increase in Cash from Investing

      Company has used Rs 29096.97 cr for investing activities which is an YoY increase of 21.47%. (Source: Consolidated Financials)

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Technicals

  • Buy / Sell Signals
  • Price Analysis
  • Pivot Levels & ATR
  • Chart
  • Bullish / Bearish signals for Indian Oil Corporation Ltd. basis selected technical indicators and moving average crossovers.

    MACD Crossover

    Bearish signal on daily chart

    Appeared on: 27 Nov 2020

    Region: Positive

    Last 4 Sell Signals:31 Aug 2020
    Date10 days Gain/Loss %
    31 Aug 2020-7.58%
    31 Jul 2020-3.45%
    17 Jun 2020-0.71%
    18 May 20200.35%

    Average price decline of -3.67% within 10 days of Bearish signal in last 10 years

    10 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 27 Nov 2020

    10D EMA: 85.01

    Last 4 Sell Signals:20 Oct 2020
    Date7 days Gain/Loss %
    20 Oct 20200.47%
    14 Oct 2020-1.07%
    12 Oct 2020-1.52%
    26 Aug 2020-5.01%

    Average price decline of -2.64% within 7 days of Bearish signal in last 5 years

    5 Day EMA Crossover

    Bearish signal on daily chart

    Appeared on: 26 Nov 2020

    5D EMA: 85.66

    Last 4 Sell Signals:19 Nov 2020
    Date7 days Gain/Loss %
    19 Nov 2020-1.53%
    2 Nov 2020-1.73%
    20 Oct 20200.47%
    14 Oct 2020-1.07%

    Average price decline of -2.67% within 7 days of Bearish signal in last 5 years

  • 43%
    Positive Movement since
    1st Jan 2005 on basis
    57%
    Negative Movement since
    1st Jan 2005 on basis
    Exclude
  • Pivot Levels

    R1R2R3PIVOTS1S2S3
    Classic85.8787.1389.3384.9383.6782.7380.53

    Average True Range

    5 DAYS14 DAYS28 DAYS
    ATR1.962.032.14

Peer Comparison

  • Stock Performance
  • Ratio Performance
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of -57.02% as compared to Nifty 100 which gave a return of 21.2%. (as of last trading session)
    • Stock Returns vs Nifty Energy

      Stock generated -57.02% return as compared to Nifty Energy which gave investors 13.5% return over 3 year time period. (as of last trading session)
    • 1D
    • 1W
    • 1M
    • 3M
    • 6M
    • 1Y
    • 5Y
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of -57.02% as compared to Nifty 100 which gave a return of 21.2%. (as of last trading session)
    • Stock Returns vs Nifty Energy

      Stock generated -57.02% return as compared to Nifty Energy which gave investors 13.5% return over 3 year time period. (as of last trading session)

    Ratio Performance

    NAMEP/E (x)P/B (x)ROE %ROCE %ROA %Rev CAGR [3Yr]OPMNPMBasic EPSCurrent RatioTotal Debt/ Equity (x)Total Debt/ CFO (x)
    Indian Oil Corp24.300.79-0.935.55-0.2710.571.92-0.66-0.970.681.3214.56
    BPCL19.141.708.366.832.0212.032.170.7915.530.721.697.73
    HPCL5.120.948.516.632.2512.621.471.1517.320.661.277.20
    Add More
    Annual Ratios (%)

    Choose from Peers

      Choose from Stocks

      Peers InsightsIndian Oil Corporation Ltd.

      • Stock Returns vs Nifty 100

        Stock gave a 3 year return of -57.02% as compared to Nifty 100 which gave a return of 21.2%. (as of last trading session)

      • Stock Returns vs Nifty Energy

        Stock generated -57.02% return as compared to Nifty Energy which gave investors 13.5% return over 3 year time period. (as of last trading session)

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      Shareholding Pattern

      • QOQ Change
      • Total Shareholdings
      • Showing Shareholding as on 30 Sep 2020
        Category31 Dec 201931 Mar 202030 Jun 202030 Sep 2020
        Promoters51.5051.5051.5051.50
        Pledge0.000.000.000.00
        FII7.647.196.336.07
        DII13.8013.4013.8613.37
        Mutual Funds6.476.066.515.74
        Others27.0627.9128.3129.06
      • Showing Shareholding as on 30 Sep 2020
        CategoryNo. of SharesPercentage% Change QoQ
        Promoters4,84,81,33,17851.50 %0.00
        Pledge00.00 %0.00
        FII57,16,62,6886.07 %-0.26
        DII1,25,80,63,27313.37 %-0.49
        MF54,01,97,0775.74 %-0.77
        Others2,73,62,99,78329.06 %0.75

      MF Ownership

      MF Ownership as on 31 October 2020

      F&O Quote

      • Futures
      • Options
        • Expiry

        Price

        84.95-1.05 (-1.22%)

        OpenHighLowPrev CloseContracts TradedTurnover (₹ Lakhs)
        85.8586.7084.5586.004,71622,988.44

      Corporate Actions

      • Board Meeting/AGM
      • Dividends
      • Others
      • Meeting DateAnnounced onPurposeDetails
        Oct 30, 2020Oct 07, 2020Board MeetingQuarterly Results
        Sep 21, 2020Aug 27, 2020AGM-
        Jul 31, 2020Jul 15, 2020Board MeetingQuarterly Results
        Jun 24, 2020Jun 19, 2020Board MeetingAudited Results
        Mar 13, 2020Mar 05, 2020Board MeetingInterim Dividend
      • TypeDividendDividend per ShareEx-Dividend DateAnnounced on
        Interim42%4.25Mar 23, 2020Mar 13, 2020
        Final10%1.0Aug 21, 2019May 17, 2019
        Interim0%0.0Mar 27, 2019Mar 13, 2019
        Interim67%6.75Dec 21, 2018Dec 13, 2018
        Final20%2.0Aug 20, 2018May 22, 2018
      • All TypesEx-DateRecord DateAnnounced onDetails
        BonusOct 18, 2016Oct 19, 2016Aug 29, 2016Bonus Ratio: 1 share(s) for every 1 shares held
        BonusOct 29, 2009Oct 30, 2009Sep 13, 2009Bonus Ratio: 1 share(s) for every 1 shares held
        BonusAug 14, 2003Aug 18, 2003Jun 06, 2003Bonus Ratio: 1 share(s) for every 2 shares held
        BonusSep 20, 1999Oct 14, 1999Jun 17, 1999Bonus Ratio: 1 share(s) for every 1 shares held
        Bonus--Sep 12, 1994Bonus Ratio: 2 share(s) for every 1 shares held

      About Indian Oil Corporation Ltd.

      Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 79643.78 Crore) operating in Gas & Petroleum sector. Indian Oil Corporation Ltd. key Products/Revenue Segments include Petroleum Refinery Products which contributed Rs 573843.13 Crore to Sales Value (98.86 % of Total Sales), Other Operating Revenue which contributed Rs 4648.36 Crore to Sales Value (0.80 % of Total Sales), Grants which contributed Rs 1296.17 Crore to Sales Value (0.22 % of Total Sales), Scrap which contributed Rs 213.62 Crore to Sales Value (0.03 % of Total Sales), Subsidy which contributed Rs 161.68 Crore to Sales Value (0.02 % of Total Sales), Sale of services which contributed Rs 152.55 Crore to Sales Value (0.02 % of Total Sales) and Income From Sale Of Share & Securities which contributed Rs 100.20 Crore to Sales Value (0.01 % of Total Sales)for the year ending 31-Mar-2020. Show More

      • Executives
      • Auditors
      • AK

        Akshay Kumar Singh

        Director
        AK

        Alok Khanna

        Executive Director
        AB

        Archna Bhardwaj

        Executive Director
        AC

        Ashish Chatterjee

        Government Nominee Director
        Show More
      • V Singhi & Associates
        K C Mehta & Co
        Singhi & Co.
        G S Mathur & Co.

      Key Indices Listed on

      Nifty 50, Nifty 100, Nifty 200, + 31 more

      Address

      Indian Oil Bhavan,G-9, Ali Yavar Jung Marg,Bandra (East),Mumbai, Maharashtra - 400051

      Indian Oil Corp Share Price Update

      Indian Oil Corporation Ltd. share price moved down by -1.17% from its previous close of Rs 85.60. Indian Oil Corporation Ltd. stock last traded price is 84.60

      Share PriceValue
      Today/Current/Last84.60
      Previous Day85.60

      Trending in Markets

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