Oil India (OIL) Q3 25/26 earnings summary

Executive summary

• Consolidated Q3 FY26 operating revenue was INR 9,111 crore with PAT of INR 1,436 crore, maintaining performance levels year-over-year.

• Nine-month consolidated revenue reached INR 27,036.78 crore, EBITDA INR 9,298.62 crore, and PAT INR 5,126.21 crore.

• Board approved divestment of 50% interest in non-performing Russian asset (Licence-61), with production suspended since August 2022 and entity under bankruptcy; full provision made for investment exposure.

• Dividend of INR 7 per share declared, totaling INR 10.5 per share for the year.

Financial highlights

• Q3 standalone operating revenue: INR 4,916 crore; nine months: INR 15,385 crore.

• Q3 standalone PAT: INR 808.31 crore; nine months: INR 2,665.81 crore.

• Q3 average crude realization: $62.84/bbl (down from $73.8/bbl YoY); nine-month average: $65.73/bbl (down 17.16% YoY).

• NRL Q3 operating revenue: INR 6,526 crore; EBITDA: INR 1,302 crore (up from INR 611 crore YoY); PAT: INR 867 crore (up from INR 385 crore YoY).

• Basic & diluted EPS (consolidated) for Q3 FY26: INR 7.35; nine months: INR 27.79.

Outlook and guidance

• FY27 crude oil production targeted at 3.8–4.0 MMT, with 100 wells planned for drilling.

• Total production guidance: 7.5 MMTOE for FY27, aiming for 8.5 MMTOE by FY28, contingent on gas evacuation infrastructure.

• NRL refinery expansion to 9 MMT progressing; 50% utilization expected in Q4 FY27, ramping to 100% by Q2 FY28.

• Board continues focus on core value-generating assets and international portfolio rationalization.

• Company remains invested in two other producing Russian assets generating dividends.