Indian Oil Corporation (530965) Fair Value & Analysis
Energy · IN · Market cap ₹2.3T
Fair value as of: Aug 18, 2026
From 24 valuation models · updated 2 days ago
Share price −3.3% over the past month.
A solid business, screening 146% undervalued on our models.
What matters now
- The price is below even our cautious bear case (₹243.10). The market is more pessimistic than our downside scenario.
- Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (₹243.10 to ₹464.08) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.
How to read this chart
60‑month range ₹42.45 – ₹183.58 · fair‑value band ₹243.10 – ₹464.08 · the ₹136.55 price screens below the ₹335.43 fair value. Dashed = 300-day average. As of Aug 18, 2026.
Analysis
Indian Oil Corporation (530965) currently trades at ₹136.55, while our model-based Fair Value estimate is ₹335.43, implying the stock looks roughly 145.7% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Net debt stands at ₹1.2T. The stock trades on a trailing P/E of 18.4 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026
Our scenario range runs from ₹243.10 (bear case) to ₹464.08 (bull case); at ₹136.55, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 6% above its 52-week low. For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at 146%, 530965 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: Growth DCF (₹408.79) versus Asset-Based (₹87.46). Highest evidence: Growth DCF (80).
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 44
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Indian Oil Corporation Limited, together with its subsidiaries, engages in refining, transporting, and marketing of petroleum products in India. It is also involved in the exploration and production of crude oil and gas; and marketing of natural gas and petrochemicals.
Full company description
Indian Oil Corporation Limited, together with its subsidiaries, engages in refining, transporting, and marketing of petroleum products in India. It is also involved in the exploration and production of crude oil and gas; and marketing of natural gas and petrochemicals. The company?s products include petrol/gasoline, diesel/gas oil, lubricants and greases, auto gas, cooking gas, kerosene, LPG, bulk/industrial fuels, aviation turbine fuel/jet fuel, marine fuels and lubricants, and bitumen. In addition, it offers special products, such as benzene, carbon black feed stock, food grade hexane, jute batching oil, micro crystalline wax, mineral turpentine oil, paraffin wax, propylene, raw petroleum coke, sulphur, and toluene. The company operates approximately 11 refineries; a network of 11,746 kilometers crude oil, products, and gas pipelines; 25,000 petrol and diesel stations, including 6,700 Kisan Seva Kendra outlets in the rural markets; 129 bulk storage terminals and depots, 101 aviation fuel stations, and 91 LPG gas bottling plants; and approximately 6,475 bulk consumer pumps in 6,250 markets, as well as has a network of 9,100 LPG distributors. Indian Oil Corporation Limited?s exploration and production portfolio comprises eight oil and gas blocks in India; and seven blocks in Libya, Gabon, Nigeria, Yemen, Venezuela, Canada, and the United States. Further, it engages in the explosives and cryogenic businesses; wind mill and solar power generation activities; lube blending and marketing of lubricants; and plantation of Jatropha, and extraction of oil for bio-diesels. The company also exports its products. It serves consumer, industrial, and marine, as well as domestic and international flag carriers, private airlines, and the Indian defense services sectors. Indian Oil Corporation Limited was founded in 1959 and is based in New Delhi, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Indian Oil Corporation reported revenue of ₹7.7T in FY2025 versus ₹7.4T in FY2021, a compound +1.2%/yr. Reported net income was ₹421B in FY2025, compounding +13.8%/yr from FY2021.
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Peer Group
Energy · 1240 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Oil & Gas” was too small, so the broader sector is used.)
Valuation Multiples vs Energy median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Oil & Gas stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| 500104 500104 | ₹390.35 | ₹1,184 | +203% |
| SHLPH SHLPH | 8.44 PHP | 6.25 PHP | -26% |
| 538567 538567 | ₹1,159 | ₹1,947 | +68% |
| PXP PXP | 2.48 PHP | 0.3200 PHP | -87% |
| JTF International Holdings 8479 | HK$0.6100 | HK$0.6700 | +10% |
| ANDHRAPET ANDHRAPET | ₹43.98 | ₹15.06 | -66% |
| PERC PERC | 4.19 PHP | 12.10 PHP | +189% |
| OV OV | 0.0080 PHP | 0.0082 PHP | +2% |
| Ratio Oil Explorations (1992) " Limited RATIL | 4.38 ILA | 3.98 ILA | -9% |
| Shell plc SHELL | 854.00 CZK | 980.26 CZK | +15% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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