Oil India share price in focus on key update for its subsidiary: All you need to know

Numaligarh Refinery is a division of Oil India Limited, which is under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.

Prior to the upgrade, NRL, a Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and Natural Gas, held Miniratna status.

"The Hon'ble Finance Minister has approved the upgradation of Numaligarh Refinery Ltd (NRL) to Navratna CPSE. NRL will be the 27th Navratna amongst the CPSEs. NRL is a Ministry of Petroleum & Natural Gas CPSE with an annual turnover of ₹25,147 crore and a net profit of ₹1,608 crore for FY 2024-25," the Department of Public Enterprises under the Finance Ministry said in a post on X on Tuesday.

NRL's majority shareholder is Oil India Ltd with 69.63% holding, while the Assam government has 26% and Engineers India Ltd 4.37%.

Navratna status will significantly enhance financial and operational autonomy. This autonomy is designed to empower the company to compete more effectively in the domestic and global markets by making faster, independent decisions without needing explicit government approval for every strategic move.

It will empower the company to invest up to ₹1,000 crore, or 15% of its net worth, on a single project without seeking government approval.

Oil India Q2 Results

Oil India Ltd reported a 28% quarter-on-quarter (QoQ) rise in net profit to ₹1,044 crore for the September quarter of the current fiscal year (Q2 FY26), compared with ₹813.5 crore in the previous quarter.

Revenue rose 8.9% QoQ to ₹5,456 crore from ₹5,012 crore logged in the June quarter. EBITDA, as per news reports, declined 17.5% QoQ to ₹1,324.7 crore against ₹1,606 crore. EBITDA margin fell to 24.3% from 32% in the previous quarter.

Oil India, during Q2 FY26 earnings announcement, announced an interim dividend of ₹3.50 per share, which is 35% of its paid-up capital, for the financial year 2025–26. The company stated that the dividend will be distributed on or before December 14, 2025. The board has set Friday, November 21, 2025, as the record date to determine the shareholders eligible for the interim dividend.