Oil, Gas & Consumable Fuels · NSE: IOC
Intrynsic's multi-model valuation estimates Indian Oil Corporation Limited's fair value at ₹202 per share (range ₹158–₹344) against a market price of ₹131 - a gap of +54.1% (updated 29 September 2026). This is an estimated fair value based on stated assumptions, not investment advice.
Market price
₹131
close of 29 Sept 2026
Est. fair value
₹202
₹158–₹344
Gap
+54.1%
price vs estimate
Trading ~54% below our estimated fair-value range. Assumptions and per-model workings are below.
Indian Oil Corporation is India's largest oil refiner and fuel retailer, majority-owned by the government, with a nationwide network of petrol pumps. Refining margins and government-influenced fuel pricing drive its profits.
Oil, Gas & Consumable Fuels · Petroleum Products
Over the last 3 years, revenue grew -2.3%/yr and profit grew 55.1%/yr.
Every ₹100 of shareholder money earned ₹19.9 in profit last year, vs a sector median of 12.8%.
Debt is 0.60x equity — manageable, worth watching.
The market price is below our estimated fair-value range (based on stated assumptions).
About ₹165 of every ₹100 of reported profit turned into free cash (median, last 5 years); operating cash flow was positive in 5 of 5 years.
Intrynsic values Indian Oil Corporation Limited with 4 independent models and blends them into one estimated fair-value range. Every number below is an estimate based on the stated assumptions - change the assumptions and the estimate changes.
| Model | Estimated value | vs price | Weight |
|---|---|---|---|
| EV/EBITDAIndustry Comparison Method | ₹158 | +20% | - |
| EV/EBITAfter-Depreciation Comparison Method | ₹202 | +54% | - |
| P/E MultipleEarnings Multiple Method | ₹397 | +203% | - |
| DCFFuture Cash Flows Method | ₹344 | +162% | - |
Reverse DCF: today's market price implies the company must grow free cash flow about 6.3% a year for the next decade - versus 7.4% historical revenue growth.
| Revenue | ₹7,84,415 Cr | |
| Net profit | ₹43,677 Cr | |
| EPS | ₹29.81 | |
| Free cash flow | ₹72,140 Cr | |
| ROE (latest) | 19.9% | |
| Revenue growth (CAGR) | 9.2% | |
| Profit growth (CAGR) | 10.0% |
Intrynsic's multi-model valuation estimates Indian Oil Corporation Limited's fair value at ₹202 per share (range ₹158–₹344), last updated 29 September 2026. This is an estimate based on stated assumptions, not investment advice.
Indian Oil Corporation Limited trades at ₹131 against Intrynsic's estimated fair value of ₹202 - the market price is 54% below the estimate, i.e. below our estimated fair-value range. Different assumptions produce different estimates; see the model breakdown above.
Indian Oil Corporation Limited trades at about 4.4 times its latest annual earnings per share.
Indian Oil Corporation is India's largest oil refiner and fuel retailer, majority-owned by the government, with a nationwide network of petrol pumps. Refining margins and government-influenced fuel pricing drive its profits.
Intrynsic runs 4 valuation models for Indian Oil Corporation Limited (EV/EBITDA, EV/EBIT, P/E Multiple, DCF) and blends them into one estimated fair-value range. Every assumption - growth, discount rate, terminal value - is shown openly on this page.
Disclaimer: Intrynsic provides educational and informational analysis only. Fair-value figures are estimates based on stated assumptions - they are not investment advice, research recommendations, or an offer to transact in any security. Intrynsic is not a SEBI-registered investment adviser or research analyst. Markets carry risk; please do your own research or consult a registered adviser before making investment decisions. Prices shown may be delayed end-of-day values. Terms · Privacy