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Oil India Limited (OIL) Fair Value & Analysis

Energy · IN · Market cap ₹702B

OI Oil India Limited OIL · NSE
Price₹453.00
Fair Value₹342.54
Upside-24.4%
Quality40/100
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Mixed Growth
Solidly profitable · 19.5% net margin
Moderate debt · generates free cash flow
2.68% dividend yield
Mixed vs. peers (7/14)
Moderate moat 63/100
Evidence: Medium Range ₹187.82 – ₹730.94 Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

Share price +6.6% over the past month.

Below-average quality, and screening another 24% overvalued on our models.

What matters now

  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (₹187.82 to ₹730.94). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

₹704.13 ₹59.09 Fair Value ₹342.54 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range ₹59.09 – ₹704.13 · fair‑value band ₹187.82 – ₹730.94 · the ₹453.00 price screens above the ₹342.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Oil India Limited (OIL) currently trades at ₹453.00, while our model-based Fair Value estimate is ₹342.54, implying the stock looks roughly 24.4% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Oil India Limited generated revenue of ₹339B at a net margin of 19.5%. Revenue grew 5.2% year over year. It earns a return on equity of 12.7%. Net debt stands at ₹319B. Fundamentals as of Jul 17, 2026

Our scenario range runs from ₹187.82 (bear case) to ₹730.94 (bull case); at ₹453.00, the current price sits within 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 15% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -11% fair-value upside, at -24%, OIL screens richer 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹51.76 ₹263.95 ₹664.26 80
Residual Income ₹330.61 ₹390.10 ₹790.22 76
Rev-Margin DCF ₹13.66 ₹168.45 ₹378.48 74
All 26 models by family
DCF Models
FCF DCF ₹55.67 ₹288.64 ₹751.51 38
Owner Earnings ₹91.13 31
5Y Revenue Exit ₹13.66 ₹173.82 ₹397.29 39
5Y EBITDA Exit ₹80.96 ₹319.02 ₹629.21 41
5Y P/E Exit ₹173.01 ₹517.64 ₹930.88 38
10Y Revenue Exit ₹18.88 ₹181.60 ₹445.27 36
10Y EBITDA Exit ₹72.04 ₹293.36 ₹653.00 37
10Y P/E Exit ₹135.66 ₹446.24 ₹923.21 35
Earnings-Based
Graham-Dodd ₹276.75 ₹1,488 ₹2,062 54
Lynch FV ₹411.66 ₹588.08 ₹764.51 50
PEG = 1.0 ₹411.66 ₹588.08 ₹764.51 46
EPV ₹169.46 ₹231.33 ₹286.32 59
Dividend Discount
Gordon GGM ₹133.44 ₹291.31 ₹490.14 70
DDM Multi-Stage ₹133.44 ₹238.63 ₹303.59 61
Multiples
P/E Multiple ₹427.33 ₹569.77 ₹712.21 63
P/S Multiple ₹187.82 ₹250.43 ₹313.04 58
P/B Multiple ₹481.36 ₹641.81 ₹802.26 55
EV/EBIT ₹175.48 ₹294.34 ₹413.20 53
EV/EBITDA ₹107.87 ₹204.20 ₹300.52 54
EV/Revenue ₹69.33 ₹144.46 43
Asset-Based
NCAV (Graham) ₹178.28 ₹238.90 ₹356.56 50
Growth DCF
Growth DCF ₹51.76 ₹263.95 ₹664.26 80
Rev-Margin DCF ₹13.66 ₹168.45 ₹378.48 74
Economic Profit
Residual Income ₹330.61 ₹390.10 ₹790.22 76
ROIC Compounder ₹169.46 ₹231.33 ₹286.32 72
Growth Earnings
Growth-Adj P/E ₹502.04 ₹717.19 ₹932.35 68

Widest divergence: Growth Earnings (₹717.19) versus Growth DCF (₹168.45). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹339B
Revenue growth (YoY) +5.2%
Net margin 19.5%
Return on equity 12.7%
Free cash flow ₹26.5B FY2026
P/E ratio 11.9
More key figures
Operating margin 27.8%
EPS (TTM) ₹40.70
Dividend yield 2.4%
EPS growth (YoY) +60.4%
Net debt ₹319B FY2026

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 41 · Market factors (momentum, volatility) 54

Profitability 42
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 11
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

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

Oil India Limited engages in the exploration, development, and production of crude oil and natural gas in India. It operates through Crude Oil, Natural Gas, Liquefied Petroleum Gas (LPG), Pipeline Transportation, Renewable Energy, and Others segments.

Full company description

Oil India Limited engages in the exploration, development, and production of crude oil and natural gas in India. It operates through Crude Oil, Natural Gas, Liquefied Petroleum Gas (LPG), Pipeline Transportation, Renewable Energy, and Others segments. The company owns and operates automated crude oil trunk pipeline comprising an area of 1,157 kilometers; and drilling rigs and workover rigs. It is also involved in the transportation of crude oil and natural gas; and production of LPG and condensate, as well as in the pipeline transportation services. In addition, it generates energy through wind and solar power projects. Oil India Limited was founded in 1889 and is based in Noida, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Oil India Limited reported revenue of ₹339B in FY2026 versus ₹257B in FY2022, a compound +7.3%/yr. Reported net income was ₹66.2B in FY2026, compounding +4.2%/yr from FY2022.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹339B
Latest YoY
+4.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−2.0%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.4%
Avg. growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.9%
Revenue +7.3%/yr
FY22 ₹257B
FY23 ₹361B
FY24 ₹325B
FY25 ₹325B
FY26 ₹339B
Net income +4.2%/yr
FY22 ₹56.2B
FY23 ₹87.3B
FY24 ₹63.4B
FY25 ₹65.5B
FY26 ₹66.2B
Character of growth · EPS growth decomposed (2015-2026) +9.6 % p.a.
Revenue per share +10.6 pp

of which total revenue +14.4 pp · buybacks/dilution −3.9 pp

EBIT margin −10.4 pp
Tax rate +1.4 pp
Residual (interest, one-offs) +8.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

OIL screens 24% overvalued. Compare with Saudi Arabian Oil Company →

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Cite: Fair Value Calculator (2026). "Oil India Limited Fair Value". https://www.fairvalue-calculator.com/stock/OIL

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Oil & Gas Integrated · 54 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 40 · Bottom 25%
Fair Value upside −24% · Below median
Return on equity (TTM) 13% · Above median
Return on assets 4% · Below median
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 2.7% · Below median
Debt / equity 0.61× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Integrated median · lower = cheaper

P/E (TTM) 10.8× · Cheaper than 75% of peers
P/B 1.21× · Cheaper than median
P/S (TTM) 2.07× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 7.9× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 1 · sector 13
FUTURE 26 · sector 7
PAST 51 · sector 45
HEALTH 70 · sector 87
DIVIDEND 54 · sector 79

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

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 Integrated stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Saudi Arabian Oil Company 2222 26.72 SAR 20.14 SAR -25%
Exxon Mobil Corporation XOM $144.51 $90.37 -37%
Chevron Corporation CHEV C$22.88 C$7.97 -65%
PetroChina Company 601857 ¥10.29 ¥16.51 +60%
Shell plc SHELL €38.04 €46.09 +21%
TotalEnergies SE TTE C$13.80 C$7.92 -43%
Petróleo Brasileiro S.A PETR3 12,540 ARS 30,914 ARS +147%
BP p.l.c., an integrated energy company, BP $40.83 $12.71 -69%
China Petroleum & Chemical Corporation 600028 ¥5.03 ¥4.46 -11%
Equinor ASA EQNR $36.19 $34.53 -5%

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Frequently asked questions

Is Oil India Limited (OIL) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of ₹342.54 versus a price of ₹453.00, about −24% (overvalued).
What is the fair value of OIL?
Our model-based fair value for Oil India Limited is ₹342.54 (as of Jul 17, 2026), built from audited fundamentals. The current price is ₹453.00.
What is the quality score of OIL?
Oil India Limited has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Oil India Limited (OIL)?
Oil India Limited reported trailing-twelve-month revenue of about ₹339B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of OIL?
The net profit margin of Oil India Limited is about 19.5%, meaning it keeps roughly 19.5% of revenue as net income. Based on the latest reported figures.
Does Oil India Limited pay a dividend?
Oil India Limited currently shows a dividend yield of about 2.35% relative to its recent price (as of Jul 17, 2026).

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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