Oil India (OIL) Investor Day 25/26 summary

Financial performance and guidance

• Consolidated income reached INR 38,981 crore in FY26, up 3% YoY, with EBITDA of INR 13,498 crore and PAT of INR 7,551 crore; market capitalization grew 32% to INR 82,000 crore as of May 2026.

• Dividend of INR 11.5 per share maintained, matching last year, with a payout ratio above 30%.

• Total contribution to the exchequer over five years was over INR 50,000 crore, with INR 9,028 crore paid as dividends.

• Debt exposure stands at INR 1.4 billion for Oil India and INR 18,000 crore drawn for NRL, with peak debt expected at INR 28,000 crore.

• Credit ratings remain strong (CRISIL AAA, Moody’s Baa3, Fitch BBB-), with government holding 56.66% of shares.

Strategic initiatives and growth plans

• Targeting 10-12 MMTOE oil equivalent production by 2030, with 100 wells to be drilled in FY27 and aggressive offshore expansion through partnerships.

• NRL refinery expansion from 3 to 9 MMTPA on track for full commissioning by March 2027; CapEx for expansion and polypropylene unit totals INR 46,000 crore.

• Major midstream and downstream expansions include 2x gas pipeline, 3x product pipeline, and 3x refining capacity increases.

• Actively pursuing overseas asset acquisitions in Latin America, Canada, Australia, and Africa to diversify energy sources.

• Aggressive participation in OALP rounds and international collaborations, notably with TotalEnergies for offshore exploration.

Exploration and production outlook

• Achieved highest daily crude oil production in a decade at 81,354 barrels per day; current production exceeds 82,000 barrels per day.

• Reserve replacement ratio improved to 1.2 from 0.94 YoY; 74 wells drilled in FY26, with 100 planned for FY27.

• Offshore exploration ramping up with three wells drilled in shallow water and deepwater drilling planned for mid-2027, supported by Samudra Manthan Mission.

• Gas production expected to rise from 8 to 13-15 MMSCMD as new pipelines are commissioned; five BCM target by end FY28.

• New well gas allocation to NRL provides 20% premium over APM price; further allocations expected as infrastructure ramps up.