Oil India Ltd
Oil India Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Oil India aims to drill around 100 wells in FY 2027, targeting crude production of approximately 3.8 million tons and 4.0 million tons in FY 2028. Oil India aims to complete the Numaligarh Refinery expansion by Q4 FY 2027 and achieve 100% capacity utilization by Q2 FY 2028, which is expected to enhance refining margins and profits.
From Oil India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Oil India aims to drill around 100 wells in FY 2027, targeting crude production of approximately 3.8 million tons and 4.0 million tons in FY 2028.
- Crude oil daily production reached a decade-high of 9,861 metric tons as of December 2025.
- Natural gas production is stable but growth is contingent on pipeline connectivity and gas evacuation infrastructure improvements.
- Pipeline expansions (Duliajan-Numaligarh and Numaligarh-Siliguri) and link-ups with IGGL line expected by April 2026 will boost gas monetization.
- Refinery at Numaligarh targets 50% capacity utilization by Q4 FY 2027, ramping to 100% by Q2 FY 2028.
- Petrochemical project commissioning expected toward end of FY 2028, with full capacity utilization by Q2 FY 2029.
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Profitability & Margins
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Capital Expenditure Plans
- Stand-alone capex guidance for Oil India Limited is INR 8,800 crores for FY '26; expected to hover around INR 9,200 crores plus in FY '27 and '28. (Page 24)
- At Numaligarh Refinery Limited (NRL), total project capex is about INR 45,000 crores, including refinery and petrochemicals; INR 16,000 crores debt already drawn. (Page 22)
- Peak capex beyond next year mainly for polypropylene unit (~INR 7,200 crores). (Page 22)
- Capex outgo at NRL for current year expected around INR 8,000 crores; total capex for refinery and petchem is INR 45,000 crores. (Page 20)
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Top-ranked in Oil
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Oil India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹9.3K Cr, net profit ₹2.4K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Oil India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Oil India Ltd Q3 FY26 results?
Oil India aims to drill around 100 wells in FY 2027, targeting crude production of approximately 3.8 million tons and 4.0 million tons in FY 2028. Oil India aims to complete the Numaligarh Refinery expansion by Q4 FY 2027 and achieve 100% capacity utilization by Q2 FY 2028, which is expected to enhance refining margins and profits.
What is Oil India Ltd share price analysis?
Oil India Ltd currently shows a neutral. The stock trades at a P/E of 10.9 with a market cap of ₹72,221 Cr. Investors should review the full earnings analysis for detailed insights.
Is Oil India Ltd planning capital expenditure?
Stand-alone capex guidance for Oil India Limited is INR 8,800 crores for FY '26; expected to hover around INR 9,200 crores plus in FY '27 and '28.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.