India Oil Corporation Posts Rs 7,817 Crore Profit in Q2FY26, Morgan Stanley Retains Rs 168 Target
Indian Oil Corporation reported a significant turnaround with a Rs 7,817 crore profit in Q2FY26, reversing last year's losses. The company achieved this through improved margins, revenue growth, and marketing volumes that outperformed the industry. Despite reducing reliance on Russian crude, Indian Oil maintains strong earnings visibility. Morgan Stanley retains a target price of Rs 168 but analysts continue to favor competitors.
Indian Oil Corporation demonstrated a robust financial recovery in the second quarter of fiscal year 2026, reporting a profit of Rs 7,817 crore compared to losses in the same period last year. This turnaround was driven by improved profit margins and increased revenue. The company’s marketing volumes surpassed industry growth rates, showcasing strong operational performance. Notably, Indian Oil lowered its dependence on Russian crude oil but still maintained robust earnings visibility, reflecting effective risk management and strategic sourcing. Despite this positive performance, market analysts from Morgan Stanley retain their target price for Indian Oil shares at Rs 168, indicating confidence in the company’s earnings potential. However, some analysts remain more optimistic about the prospects of Indian Oil’s competitors, suggesting a competitive landscape in the oil and gas sector. This financial result places Indian Oil Corporation back into positive investor focus amid broader market evaluations and stock performance analysis.
