Established in: 1959
Managing Director: Arvinder Singh Sahney
Indian Oil Corporation (IOC) is India’s largest government-owned Maharatna company in the oil and gas industry. From refining crude oil to marketing fuels, lubricants, gas and petrochemicals. IOC touches almost every aspect of daily energy needs.
With a vast network of refineries, pipelines, fuel stations and LPG distributors, IOC ensures reliable energy access across urban and rural India.
Indian Oil Corporation comprises seven main business divisions, which include refineries, pipelines, marketing, petrochemicals, R&D, exploration, explosives and cryogenics.
At present, IOC is steadily expanding its footprint in cleaner fuels and sustainable energy solutions.
History of Indian Oil Corporation (IOC)
IOC’s journey began in 1959, when it was set up to strengthen India’s self-reliance in petroleum products. On September 1, 1964, Indian Refineries Limited merged with Indian Oil Company Limited and the new entity was named Indian Oil Corporation Limited.
Over the years, the IOC built world-class refineries, an extensive pipeline network and one of the largest retail fuel chains in India.
IOC played a key role in popularising LPG in Indian households and supporting industrial growth. Today, IOC continues to adapt, investing in petrochemicals, natural gas, biofuels and hydrogen.
Indian Oil Corporation (IOC) Business Segments
The business segments of IOC are as follows:
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Refining: IOC operates some of India’s largest refineries, where crude oil is turned into petrol, diesel, LPG, aviation fuel and other products.
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Pipelines: The company has an extensive pipeline infrastructure that efficiently transports crude oil, petroleum products and gas across long distances.
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Petrochemicals: IOC produces key petrochemical products used in plastics, packaging, textiles and everyday consumer goods.
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Natural Gas: IOC is expanding in natural gas sourcing, trading and city gas distribution to support cleaner energy consumption.
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Marketing and Distribution: Through IOC's vast network of fuel stations, LPG distributors and aviation fuel outlets, IOC ensures energy reaches households, vehicles and industries across India.
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Clean Energy: From biofuels and ethanol blending to hydrogen and renewable energy projects. The company is actively preparing for a clean energy transition.
Subsidiaries of Indian Oil Corporation (IOC)
- Chennai Petroleum Corporation Limited
- IOC Global Capital Management IFSC Limited
IOC’s Future Outlook
The company has committed to achieving net-zero operational emissions by 2046, aligning with India’s goal of 2070.
Management predicts that India’s oil demand will continue to grow, with a peak demand unlikely before 2035.
IOC plans capex of ₹2.4 to ₹2.7 lakh crore between FY24 and FY30 with a focus on refining, petrochemicals, pipelines and clean energy.
IOC Financial Performance (FY25 vs FY24)
Revenue: IOC reported a consolidated revenue of ₹7,61,619.54 crore in FY25 vs ₹7,80,190.41 crore in FY24. It showed a decrease of -2.38% on a yearly basis, reflecting mild negative performance.
Operating Profit: The company reported an operating profit of ₹17,063.45 crore in FY25 vs ₹57,287.79 crore in FY24. It showed a decrease of -70.21% on a year-on-year basis.
Net Profit: IOC reported a net profit of ₹13,788.83 crore in FY25 compared to ₹43,161.15 crore in FY24. It showed a decrease of -68.05% on a yearly basis.
Indian Oil Financial Highlights
- Revenue: Indian Oil reported revenue of ₹7,88,578.42 crore in FY26 vs ₹7,61,619.54 crore in FY25. It showed an increase of 3.54% on a yearly basis.
- Operating Profit: Indian Oil reported an operating profit of ₹57,472.08 crore in FY26 vs ₹17,063.45 crore in FY25. It showed an increase of 236.81% on a year-on-year basis.
- Net Profit: Indian Oil reported a net profit of ₹43,677.32 crore in FY26 vs ₹13,788.83 crore in FY25. It showed an increase of 216.76% on a yearly basis.
Indian Oil Quarterly Result Highlights
- Indian Oil reported revenue of ₹2,66,853.23 crore in Jun 2026, compared with ₹2,10,064.22 crore in Mar 2026, representing an increase of 27.03% on a quarter-on-quarter (QoQ) basis.
- Indian Oil reported an operating loss of ₹932.59 crore in Jun 2026, compared with ₹19,791.04 crore in Mar 2026, representing a decrease of 104.71% on a quarter-on-quarter (QoQ) basis.
- Indian Oil reported a loss of ₹1,141.09 crore in Jun 2026, compared with ₹15,176.08 crore in Mar 2026, reflecting a decrease of 107.52% on a QoQ basis.
- The earnings per share (EPS) of Indian Oil stood at ₹9.87 during Jun 2026.
