Indian Oil Corporation Limited (IOC) Earnings Call Transcripts

Indian Oil Corporation Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Indian Oil Corporation (IOC:IN) reported a revenue of INR 232,855 crores, slightly up from INR 231,769 crores in the previous quarter, driven by strong sales volume growth across key segments. The company achieved a profit after tax (PAT) of INR 11,378 crores, down from INR 12,126 crores in Q3 FY '26, but significantly higher than INR 3,962 crores in Q4 FY '25. Management indicated a commitment to maintaining energy supply amidst geopolitical tensions and announced a CapEx target of INR 32,700 crores for FY '27, focusing on refining and renewable energy projects.

Reported metrics

Guidance from management

IOC targets a CapEx of INR 32,700 crores for FY '27, focusing on refining and renewable energy projects. Management aims to achieve savings of INR 2,500 crores from Project SPRINT in the upcoming fiscal year.

What management said

Thank you, Nitin. I would like to extend my sincere appreciation to our investors and all stakeholders for their continued confidence and support. The progress achieved during the year underscores the dedication of our teams and the strength of our operating model. As we move forward, we remain focused on sustaining momentum, strengthening our core business and delivering consistent long-term value to our stakehold...

Two major years. It is by the nature of energy efficiency, which are not exactly coming in other expenses, it comes part of my operating margins. So everything, I would say 50-50, 50% would be coming in my other expenses or you would say, revenue expenditure side. And another INR 1,000 crores would be coming in my margin side.

What analysts pressed on

Analysts expressed concerns regarding the rising LPG underrecovery and its impact on profitability, with underrecovery increasing from INR 100 to INR 670 per cylinder. There were also questions about the sustainability of refining margins amidst geopolitical tensions and the company's pricing strategy moving forward.

Main topics on the call

• Record Operational Performance — IOC achieved the highest annual refining throughput in its history, reaching 75.5 million metric tons with a capacity utilization of 107.4%. Management stated, "This has been a landmark year for Indian Oil on virtually e...
• Geopolitical Impact on Supply Chain — The ongoing U.S.-Iran conflict has led to significant disruptions in the hydrocarbon supply chain, with management noting, "These developments have created headwinds of an extraordinary nature." IOC has diversified sourc...
• CapEx and Project SPRINT Savings — The company reported savings of INR 2,200 crores from Project SPRINT initiatives and plans to target INR 2,500 crores in FY '27. Management emphasized, "We have optimized our CapEx on the maintenance portfolio."
• Refining Margins and Pricing Strategy — Management refrained from providing specific guidance on future refining margins due to volatility but indicated that margins are expected to remain elevated due to geopolitical uncertainties. "Refining margins are expec...

Read the full Indian Oil Corporation Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 26 Indian Oil Corporation Limited earnings call transcripts on record, spanning January 31, 2020 to May 19, 2026. Based on this history, Indian Oil Corporation Limited reports quarterly. The most recent call on file is dated May 19, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

IOC

Exchange

NSEI

Country

IN

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

26

First call

January 31, 2020

Most recent

May 19, 2026

Reporting cadence

quarterly