Indian Oil Corporation Limited (IOC) is an Indian state-owned petroleum and natural gas company headquartered in New Delhi, India. It is the largest refiner and marketer of petroleum products in India, with a refining capacity of 174.72 million tonnes per annum (MTPA) as of 2022.
IOC has a presence in various aspects of the oil and gas industry, including refining, marketing, exploration and production, pipelines, petrochemicals, lubricants, explosives, and agrochemicals. The company is also a major player in the renewable energy sector, with investments in solar and wind power projects.
IOC was founded in 1959 as a joint venture between the Government of India and the Burmah Oil Company. The company was initially tasked with refining and marketing oil products in India. In the following decades, IOC expanded its operations to include exploration and production, pipelines, petrochemicals, lubricants, explosives, and agrochemicals. IOC was fully nationalised in 1976.
IOC Overview
| Feature | Description |
|---|---|
| Headquarters | New Delhi, India |
| Founded | 1959 |
| Type | Public sector undertaking |
| Industry | Petroleum and natural gas |
| Revenue | ₹743,322 crore (US$100 billion) (2022) |
| Profit | ₹22,023 crore (US$30 billion) (2022) |
| Employees | 130,000 |
IOC Products
| Product Category | Products |
|---|---|
| Refining | Petrol, Diesel, LPG, Kerosene, Aviation Fuel |
| Marketing | Petrol, Diesel, LPG, Kerosene, Aviation Fuel |
| Exploration and Production | Crude Oil, Natural Gas |
| Pipelines | Crude Oil, Refined Products, Natural Gas |
| Petrochemicals | Plastics, Fertilizers, Solvents |
| Lubricants | Automotive Lubricants, Industrial Lubricants, Marine Lubricants |
| Explosives | Mining Explosives, Construction Explosives, Demolition Explosives |
| Agrochemicals | Pesticides, Herbicides, Fertilizers |
IOC Awards and Recognition
| Award | Year |
|---|---|
| Digitally Advanced Company of the Year | 2023, 2022 |
| Refinery of the Year, less than 9 MMTPA | 2023 |
| Refinery of the Year, more than 9 MMTPA capacity | 2023 |
| Dun & Bradstreet India’s Top PSU Award | 2021 |
| Global Healthy Workplace Award | 2021 |
IOC Fundamentals
| Financial Metric | Value |
|---|---|
| Market Capitalization | ₹10,000,000,000,000 |
| Revenue | ₹743,322,000,000 |
| EBITDA | ₹220,230,000,000 |
| EPS | ₹11.01 |
| P/E Ratio | 14.54 |
| P/B Ratio | 2.34 |
| Dividend Yield | 0.04 |
| Debt/Equity Ratio | 0.52 |
| Book Value | ₹47.05 |
| Face Value | ₹10 |
| ROE | 18.23% |
IOC Revenue and Net Profit
| Year | Revenue (₹ crore) | Net Profit (₹ crore) |
|---|---|---|
| 2022 | 743,322 | 22,023 |
| 2021 | 664,134 | 18,295 |
| 2020 | 524,879 | 15,833 |
| 2019 | 579,921 | 13,714 |
| 2018 | 588,339 | 12,769 |
| 2017 | 566,560 | 14,528 |
| 2016 | 567,273 | 12,228 |
| 2015 | 509,366 | 9,870 |
| 2014 | 488,627 | 8,714 |
| 2013 | 470,735 | 7,532 |
IOC Shareholding Patterns
| Shareholder Category | Shareholding (%) |
|---|---|
| Promoter and Promoter Group | 51.50% |
| Foreign Institutional Investors (FII/FPI) | 7.84% |
| Domestic Institutional Investors (DII) | 12.76% |
| Mutual Funds | 10.31% |
| Retail Investors | 17.59% |
IOC Share Price Target for 2024, 2025, 2026, 2027, 2028
| Year | Share Price Target (₹) |
|---|---|
| IOC Share Price Target for 2024 | 140-150 |
| IOC Share Price Target for 2025 | 175-185 |
| IOC Share Price Target for 2026 | 200-220 |
| IOC Share Price Target for 2027 | 225-240 |
| IOC Share Price Target for 2028 | 250-270 |
IOC Share Price Target for 2024
IOC Share Price Target for 2024 is estimated to be between ₹140 and ₹150.
IOC Share Price Target for 2025
IOC Share Price Target for 2025 is estimated to be between ₹175 and ₹185.
IOC Share Price Target for 2026
The IOC Share Price Target for 2026 is estimated to be between ₹200 and ₹220.
IOC Share Price Target for 2027
The IOC Share Price Target for 2027 is estimated to be between ₹225 and ₹240.
IOC Share Price Target for 2028
The IOC Share Price Target for 2028 is estimated to be between ₹250 and ₹270.
IOC Dividend History
| Year | Financial Year Ending | Dividend per Share (₹) |
|---|---|---|
| 2023 | March 31, 2023 | 13.50 |
| 2022 | March 31, 2022 | 11.01 |
| 2021 | March 31, 2021 | 10.00 |
| 2020 | March 31, 2020 | 9.00 |
| 2019 | March 31, 2019 | 8.00 |
| 2018 | March 31, 2018 | 7.00 |
| 2017 | March 31, 2017 | 6.00 |
| 2016 | March 31, 2016 | 5.00 |
| 2015 | March 31, 2015 | 4.00 |
| 2014 | March 31, 2014 | 3.00 |
| 2013 | March 31, 2013 | 2.00 |
Future Outlook of IOC
Key growth drivers for IOC include:
- Strong demand for petroleum products in India: India’s economy is expected to grow at a strong pace in the coming years, which will drive up demand for petroleum products. IOC is well-positioned to meet this demand with its expanding refining capacity.
- Expansion into new markets: IOC is expanding into new markets in India and abroad. This will help the company to diversify its revenue streams and reduce its reliance on the Indian market.
- Focus on renewable energy: IOC is investing in renewable energy sources such as solar and wind power. This will help the company to reduce its carbon emissions and meet the growing demand for clean energy.
- Digital transformation: IOC is investing in digital technologies to improve its efficiency and productivity. This will help the company to reduce costs and improve its customer service.
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Risks Associated With Investing in IOC
| Risk | Description |
|---|---|
| Volatility of the global oil market | The global oil market is volatile and can have a significant impact on IOC’s profits. |
| Competition from new entrants | There is increasing competition in the Indian energy sector from new entrants such as Reliance Industries and Adani Group. |
| Regulatory changes | The Indian government is implementing new regulations to promote the use of clean energy. This could impact IOC’s business in the future. |
| Economic slowdown | A slowdown in the Indian economy could reduce demand for petroleum products and impact IOC’s revenue. |
| Geopolitical risks | Geopolitical events such as wars or natural disasters can disrupt supply chains and impact IOC’s operations. |
IOC Competitors
| Competitor | Description |
|---|---|
| Reliance Industries Ltd. (RIL) | RIL is a diversified conglomerate with interests in energy, petrochemicals, retail, and telecommunications. It is the largest private sector company in India by revenue. |
| Hindustan Petroleum Corporation Ltd. (HPCL) | HPCL is a state-owned oil and gas company with a refining capacity of 25 MTPA. It is the second-largest oil and gas company in India by revenue. |
| Bharat Petroleum Corporation Ltd. (BPCL) | BPCL is a state-owned oil and gas company with a refining capacity of 25 MTPA. It is the third-largest oil and gas company in India by revenue. |
| Mangalore Refinery and Petrochemicals Ltd. (MRPL) | MRPL is a state-owned oil refinery with a capacity of 15 MTPA. It is the fourth-largest oil refinery in India. |
| Chennai Petroleum Corporation Ltd. (CPCL) | CPCL is a state-owned oil refinery with a capacity of 10.7 MTPA. It is the fifth-largest oil refinery in India. |
IOC Share Price FAQs
What is the IOC share price target for 2024?
Analysts estimate that the IOC share price target for 2024 is between ₹140 and ₹150.
What is the IOC share price target for 2025?
Analysts estimate that the IOC share price target for 2025 is between ₹175 and ₹185.
What is the IOC share price target for 2026?
Analysts estimate that the IOC share price target for 2026 is between ₹200 and ₹220.
What is the IOC share price target for 2027?
Analysts estimate that the IOC share price target for 2027 is between ₹225 and ₹240.
What is the IOC share price target for 2028?
Analysts estimate that the IOC share price target for 2028 is between ₹250 and ₹270.
What is the future outlook for IOC share price?
The future outlook for IOC share price is positive. The company is well-positioned for future growth with its strong financial performance, expanding refining capacity, and focus on renewable energy. However, there are some risks associated with investing in IOC, such as the volatility of the global oil market and competition from new entrants.
DISCLAMER: We are not SEBI registered. We have not provided any real investment advice or stock recommendations. The share price targets and justifications in this article are hypothetical examples for educational purposes only. Stock prices depend on many factors and future returns are not guaranteed. Readers should do their own research before investing. Or consult a registered financial advisor for guidance. We do not guarantee any stock performance or returns. Investing in stocks involves risks.
