OIL INDIA LIMITED (OIL): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹439 latest close · +4.0% over the last 90 sessions

₹439 month-end · +6.2% over 12 months

₹439 month-end · +115.8% over 3 years

₹439 month-end · +292.8% since Jan '19

52-week range ₹395.60 to ₹531.00 · 1-year volatility 30.9%

Was the rally earned?

1 year3 years5 years

+6%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 25 points, but investors now pay less per rupee of profit (P/E 10.2x to 8.5x), which took 19 points back.
The share count rose 6%.

Net profit growth+31 ptsNet profit rose about 35%, which lifts the price.

P/E change-19 ptsThe P/E fell from 10.2x to 8.5x, which lowers the price.

Share count change-6 ptsShare count rose 6%, which lowers the price.

+116%share price, 3 yearsMultiple-driven

Partly.

Most of the rise came from investors paying a higher multiple (P/E 3.8x to 8.5x); per-share earnings took off 7 points.
The share count barely moved.

Net profit growth-5 ptsNet profit fell about 3%, which lowers the price.

P/E change+122 ptsThe P/E rose from 3.8x to 8.5x, which lifts the price.

Share count change-2 ptsShare count was little changed. More shares would count against the price.

+211%share price, 5 yearsEarnings-driven

Mostly yes.

Per-share earnings added 160 points to the rise, while the multiple moved less (P/E 6.5x to 8.5x).
The share count fell 3%.

Net profit growth+155 ptsNet profit rose about 130%, which lifts the price.

P/E change+51 ptsThe P/E rose from 6.5x to 8.5x, which lifts the price.

Share count change+6 ptsShare count fell 3%, which lifts the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with INDIAN OIL CORPORATION

How rough has the ride been?

Maximum drawdown-62.1%recovered 2021-09

1-year volatility30.9%annualised

Beta vs sector index0.823-year daily, correlation 0.42

Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-62.1% (2019-03 peak to 2020-03 low, recovered 2021-09)

-53.9% (2024-08 peak to 2025-03 low, not yet recovered)

-43.5% (2022-06 peak to 2022-09 low, recovered 2023-10)

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

8.6xP/E todayWithin its usual range

Against its own history74th percentile

CheapestMedian 6.1xDearest

Usual range 2.8x to 11.8x since 2019-01.

Against Energy Minerals8.6x vs 12.7x

This company

8.6x

Sector median

12.7x

33% below the Energy Minerals median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Energy Minerals is valued

Where does it rank among Energy Minerals peers?

Each cell is the company's percentile rank among its Energy Minerals peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE40th▼ 8 pts vs a year ago
Op. margin92ndflat vs a year ago
Revenue growth67th▲ 47 pts vs a year ago
EPS growth67th▲ 12 pts vs a year ago
Debt/equity ↓14th▼ 15 pts vs a year ago
Cash cycle ↓8th▼ 5 pts vs a year ago
P/E ↓68thflat vs a year ago
12M momentum71st▲ 33 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Energy Minerals sector page Watch it move against Energy Minerals in the Observatory

What is the price implying?

~6%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 10.7x, a holder earning 12%/yr needs earnings to grow about 6.0%/yr for 10 years, then trade at 15x.

Delivered15.1%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−9.1 ptsimplied minus delivered

Rank693rdmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	7.2%	8.1%	9.1%
15x	5.1%	6.0%	7.0%
20x	2.4%	3.3%	4.2%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 6.0%/yr

Looking back

Jan 2020Price implied −3%/yr; EPS has since grown 11%/yr (7.0 yrs)
Jan 2021Price implied −6%/yr; EPS has since grown 6%/yr (6.0 yrs)
Jan 2022Price implied 4%/yr; EPS has since grown 13%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹439.00
P/E: 8.5x
ROCE: 12.0%
Market Cap: ₹71408 cr
Revenue (TTM): ₹38520 cr
P/S: 1.9x
P/B: 1.2x
ROE: 14.4%
Operating Margin: 46.0%
Debt / Equity: 0.6x
Promoter Holding: 56.7%
12M Momentum: 6.2%

52-week range

₹395.60₹531.00

32% of the way from its 52-week low to its high

Price risk

1Y volatility

30.9%

Beta vs sector

1-year daily

0.26

Balance sheet & cash

Interest cover

operating profit ÷ interest

10.5x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.53x

Share count, 1Y

unchanged

Are profits backed by cash?

4 of 7checks within range1 beyond a threshold

Other income reliance23%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 22.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 23.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.53xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.53x (cash from operations ₹32,949 cr, net profit ₹21,571 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+12 daysWithin range

Debtor days are above the median of the previous three fiscal years by 12 days (50 vs 38). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress133% of fixed assetsBeyond threshold

Capital work-in-progress is 133% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+100 days / 2 yrsNear threshold

Days payable changed by +100 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, DIIs added 4.2 pts; FIIs trimmed 4.0 pts.
The number of shareholders rose from 2.4 lakh to 4.6 lakh (+93%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters56.7%56.7%0.0 pts

FIIs11.3%7.3%-4.0 pts

DIIs15.9%20.1%+4.2 pts

Public and others6.3%6.1%-0.3 pts

Number of shareholders

4.6 lakhshareholders+93% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−0.8%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like OIL INDIA LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −21% to +21% vs the market, against −3% for all non-financial companies in the same months.
The gap against the base rate (+1.8%, 80% range −6.7% to +5.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median

−0.8%

All companies' median

−2.6%

Beat the market

50% vs 47%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
NHPC Utilities	Apr 2022	10x	9%	+37%	−8%	+35%
TATACHEM Process Industries	Jun 2023	11x	12%	+26%	−17%	−25%
NLCINDIA Utilities	Oct 2025	13x	11%	+2%	−8%	−8%
HINDALCO Non-Energy Minerals	Jan 2020	8x	11%	−9%	−14%	0%
CHAMBLFERT Process Industries	Aug 2021	8x	20%	+116%	−5%	+2%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
BIRLACORPN Non-Energy Minerals	Aug 2021	17x	12%	+120%	−10%	−33%
INDUSTOWER Communications	Feb 2025	11x	22%	+28%	−30%	+19%
NTPC Utilities	Jan 2020	8x	7%	−3%	−21%	−34%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to OIL INDIA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

POWER GRID CORPORATION OF INDIPOWERGRID

Utilities

74%similar

revenuerevenue growth

NHPCNHPC

Utilities

66%similar

market capEPS growth

NTPCNTPC

Utilities

63%similar

revenue growthrevenue

TORRENT POWERTORNTPOWER

Utilities

59%similar

market caprevenue

DEEPAK FERTILIZERS &PETROCHEMIDEEPAKFERT

Process Industries

58%similar

revenue growthROCE

RELIANCE INDUSTRIESRELIANCE

Energy Minerals

49%similar

revenuemarket cap

COAL INDIACOALINDIA

Energy Minerals

44%similar

EPS growthP/E

OIL AND NATURAL GAS CORPORATIOONGC

Energy Minerals

40%similar

P/Erevenue

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Sep '22

2026
SepResultsRevenue (TTM) reached a new high of ₹38,520 cr.
SepPeer rankMoved into the 2nd quartile of Energy Minerals on EPS growth (from the 3rd quartile).
AugValuationP/E crossed above the 90th percentile of its own history to date (11.9x).
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the 3rd quartile of Energy Minerals on EPS growth (from the bottom quartile).
MayPriceVolume reached 6.4x its 50-day median on 2026-05-12; price +7.7% that day.
JanPriceVolume reached 18.8x its 50-day median on 2026-01-28; price +9.4% that day.
2025
DecValuationP/E crossed above the 90th percentile of its own history to date (11.6x).

Show 22 earlier events

2025
DecPeer rankSlipped to the bottom quartile of Energy Minerals on EPS growth (from the 2nd quartile).
OctPeer rankSlipped to the 3rd quartile of Energy Minerals on ROCE (from the 2nd quartile).
SepResultsYear-on-year EPS growth turned negative.
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the 2nd quartile of Energy Minerals on ROCE (from the 3rd quartile).
JunPriceVolume reached 8.0x its 50-day median on 2025-06-13; price +2.0% that day.
MarPriceFell 54% from the Aug 2024 peak to the Mar 2025 low.
MarValuationP/E crossed above the 90th percentile of its own history to date (8.5x).
JanPriceVolume reached 5.3x its 50-day median on 2025-01-03; price +3.8% that day.
2024
DecPeer rankSlipped to the 3rd quartile of Energy Minerals on ROCE (from the 2nd quartile).
AugPriceVolume reached 11.3x its 50-day median on 2024-08-30; price +1.0% that day.
JunResultsYear-on-year EPS growth turned negative.
JunPeer rankSlipped to the 2nd quartile of Energy Minerals on ROCE (from the top quartile).
MarValuationP/E crossed above the 90th percentile of its own history to date (7.5x).
FebPriceVolume reached 5.9x its 50-day median on 2024-02-15; price +12.9% that day.
2023
DecPriceVolume reached 20.9x its 50-day median on 2023-12-20; price +5.6% that day.
OctPriceRegained the 2022-06 peak, 13 months after the low.
SepPriceVolume reached 9.7x its 50-day median on 2023-09-28; price +1.7% that day.
JunResultsRevenue (TTM) reached a new high of ₹36,084 cr.
JunPeer rankSlipped to the 2nd quartile of Energy Minerals on EPS growth (from the top quartile).
FebPriceVolume reached 12.8x its 50-day median on 2023-02-14; price +7.0% that day.
2022
SepPriceFell 44% from the Jun 2022 peak to the Sep 2022 low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	8.5x	₹38520 cr	14.4%	12.0%	0.6x
2026-10	8.8x	₹38520 cr	14.4%	12.0%	0.6x
2026-09	8.7x	₹38520 cr	14.4%	12.0%	0.6x
2026-08	11.9x	₹33946 cr	11.4%	12.0%	0.6x
2026-07	11.3x	₹33946 cr	11.4%	12.0%	0.6x
2026-06	10.2x	₹33946 cr	11.4%	12.0%	0.6x
2026-05	13.3x	₹33461 cr	11.7%	13.0%	0.6x
2026-04	13.7x	₹33461 cr	11.7%	13.0%	0.6x
2026-03	13.3x	₹33461 cr	11.7%	13.0%	0.6x
2026-02	13.2x	₹33468 cr	11.7%	13.0%	0.6x
2026-01	13.9x	₹33468 cr	11.7%	13.0%	0.6x
2025-12	11.6x	₹33468 cr	11.7%	13.0%	0.6x
2025-11	10.2x	₹32321 cr	12.5%	13.0%	0.6x
2025-10	10.7x	₹32321 cr	12.5%	13.0%	0.6x
2025-09	10.3x	₹32321 cr	12.5%	13.0%	0.6x
2025-08	9.7x	₹32512 cr	12.4%	13.0%	0.6x
2025-07	10.9x	₹32512 cr	12.4%	13.0%	0.6x
2025-06	10.8x	₹32512 cr	12.4%	13.0%	0.6x
2025-05	9.4x	₹32851 cr	14.3%	18.0%	0.5x
2025-04	9.1x	₹32851 cr	14.3%	18.0%	0.5x
2025-03	8.5x	₹32851 cr	14.3%	18.0%	0.5x
2025-02	6.6x	₹34128 cr	16.4%	18.0%	0.5x
2025-01	8.2x	₹34128 cr	16.4%	18.0%	0.5x
2024-12	8.4x	₹34128 cr	16.4%	18.0%	0.5x
2024-11	11.7x	₹34378 cr	13.8%	18.0%	0.5x
2024-10	11.3x	₹34378 cr	13.8%	18.0%	0.5x
2024-09	13.9x	₹34378 cr	13.8%	18.0%	0.5x
2024-08	19.0x	₹32466 cr	12.7%	18.0%	0.5x
2024-07	14.8x	₹32466 cr	12.7%	18.0%	0.5x
2024-06	12.4x	₹32466 cr	12.7%	18.0%	0.5x
2024-05	7.9x	₹36084 cr	22.4%	25.0%	0.5x
2024-04	7.7x	₹36084 cr	22.4%	25.0%	0.5x
2024-03	7.5x	₹36084 cr	22.4%	25.0%	0.5x
2024-02	6.8x	₹36084 cr	22.4%	25.0%	0.5x
2024-01	5.3x	₹36084 cr	22.4%	25.0%	0.5x
2023-12	4.6x	₹36084 cr	22.4%	25.0%	0.5x
2023-11	3.8x	₹36084 cr	22.4%	25.0%	0.5x
2023-10	3.7x	₹36084 cr	22.4%	25.0%	0.5x
2023-09	3.7x	₹36084 cr	22.4%	25.0%	0.5x
2023-08	3.4x	₹36084 cr	22.4%	25.0%	0.5x
2023-07	3.4x	₹36084 cr	22.4%	25.0%	0.5x
2023-06	3.0x	₹36084 cr	22.4%	25.0%	0.5x
2023-05	5.0x	₹25906 cr	19.3%	21.0%	0.5x
2023-04	4.9x	₹25906 cr	19.3%	21.0%	0.5x
2023-03	4.9x	₹25906 cr	19.3%	21.0%	0.5x
2023-02	4.8x	₹25906 cr	19.3%	21.0%	0.5x
2023-01	4.5x	₹25906 cr	19.3%	21.0%	0.5x
2022-12	4.0x	₹25906 cr	19.3%	21.0%	0.5x
2022-11	3.9x	₹25906 cr	19.3%	21.0%	0.5x
2022-10	3.7x	₹25906 cr	19.3%	21.0%	0.5x
2022-09	3.4x	₹25906 cr	19.3%	21.0%	0.5x
2022-08	3.7x	₹25906 cr	19.3%	21.0%	0.5x
2022-07	3.7x	₹25906 cr	19.3%	21.0%	0.5x
2022-06	4.9x	₹25906 cr	19.3%	21.0%	0.5x
2022-05	7.3x	₹17616 cr	15.4%	13.0%	0.8x
2022-04	7.0x	₹17616 cr	15.4%	13.0%	0.8x
2022-03	7.3x	₹17616 cr	15.4%	13.0%	0.8x
2022-02	6.9x	₹17616 cr	15.4%	13.0%	0.8x
2022-01	7.4x	₹17616 cr	15.4%	13.0%	0.8x
2021-12	6.1x	₹17616 cr	15.4%	13.0%	0.8x

Older months are in the live observatory.

Methodology and data notes