Indian Oil Corporation delivered a robust financial performance for the fiscal year ended March 31, 2026, reporting a standalone net profit of ₹36,802 crore, a sharp rise from ₹12,962 crore in the previous year. Revenue from operations increased to ₹8,86,224 crore from ₹8,45,513 crore, driven by a 4.7% growth in total sales volume to over 105 MMT and receipt of LPG compensation from the Government. The surge in profitability was primarily fueled by improved refinery margins due to lower crude costs and a decrease in buffer losses on retail LPG sales.

Operational metrics reached new highs during the period. Refineries achieved a record crude throughput of 75.45 MMT, operating at 107.4% of installed capacity, up from 71.56 MMT in the prior year. Liquid pipelines recorded their highest-ever throughput of 102.52 MMT. Domestic petroleum sales hit an all-time high of 88.97 MMT, reinforcing the company’s market leadership. The petrochemicals business also saw record sales of 3.40 MMT, while the natural gas business registered its highest-ever sales of 7.09 MMT, excluding captive consumption.

Financial Highlights

The company’s financial health strengthened significantly, with the debt-to-equity ratio improving to 0.54 from 0.75 in the previous year. This deleveraging was supported by strong profitability and effective working capital management. The company reduced overall borrowings by approximately ₹23,000 crore. Key financial indicators for the year are summarized below:

Strategic Initiatives and Governance

The company launched Project SPRINT in April 2025, a three-year transformation program aimed at improving profitability, productivity, and capital efficiency across refining, marketing, and pipelines. During the year, the company commissioned 2,635 new retail outlets, bringing the total network to 42,818. It also achieved an ethanol blending level of 19.91%, progressing toward the national target.

Governance structures faced temporary adjustments due to the non-availability of Independent Directors on the Board from March 28, 2026. Consequently, statutory committees including the Audit Committee, Nomination & Remuneration Committee, and Risk Management Committee were discontinued until new appointments were made. The Secretarial Auditor noted this non-compliance with SEBI LODR regulations but confirmed it was beyond the company’s control as a Government entity.

What the Numbers Show

The divergence between revenue growth (4.8%) and net profit growth (184%) highlights the significant impact of margin expansion and cost optimization. While top-line growth was modest, driven largely by volume increases and government compensation, the bottom-line surge indicates that the company successfully leveraged lower crude input costs and operational efficiencies. The improvement in EBITDA margin from 4.50% to 8.32% underscores the effectiveness of these operational strategies in enhancing profitability despite a volatile global energy landscape.

Indian Oil Corporation has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 to the stock exchanges, pursuant to Regulation 34(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, signed by Company Secretary Kamal Kumar Gwalani on August 7, 2026, has also been uploaded on the company's official website at www.iocl.com . The BRSR covers disclosures across all nine principles of the National Guidelines on Responsible Business Conduct (NGRBC) and has been independently assured by Bureau Veritas (India) Private Limited at a reasonable assurance level.

Key Financial and Operational Disclosures

The report confirms that CSR provisions under Section 135 of the Companies Act, 2013 are applicable to the company. The following key financial parameters have been disclosed:

The company operates across 837 national locations (792 plants and 45 offices) and serves customers in 36 states and union territories across India. Its permanent workforce comprises 18,929 employees, of whom 2,042 (10.79%) are female. The Board of Directors as on March 31, 2026 comprised 9 members, with 3 females representing 33.33% of the board.

Sustainability and Environmental Performance

Indian Oil Corporation has outlined a comprehensive sustainability strategy anchored to its commitment of achieving Net Zero operational emissions by 2046. During FY 2025-26, the company implemented 214 energy conservation (ENCON) initiatives across its operations, yielding the following outcomes:

The company has commenced construction of India's first large-scale Green Hydrogen Plant with an annual production capacity of 10 KTA at Panipat. Indian Oil Corporation secured the highest rank within the Indian oil and gas sector on the 2025 Dow Jones Sustainability Index (DJSI), reflecting its structured approach to emission profiling and greenhouse gas accounting. The company's sustainability disclosures are aligned with globally recognised frameworks including GRI, SASB, and TCFD.

Workforce Well-being and Human Capital

The report provides detailed disclosures on employee and worker well-being. All 18,929 permanent employees are covered under health insurance and accident insurance. Median remuneration details for key categories are as follows:

Gross wages paid to females as a percentage of total wages stood at 8.97% in FY 2025-26, compared to 9.95% in FY 2024-25. Return-to-work rates for permanent employees and workers following parental leave were 100% across both male and female categories.

CSR Initiatives and Community Engagement

Indian Oil Corporation's CSR programmes span healthcare, education, sports, and community development across multiple states. Key beneficiary data from select programmes includes:

• Comprehensive Cancer Care: Approximately 1 lakh beneficiaries per year
• TB Elimination Program: Approximately 27.00 lakh beneficiaries since FY 2022-23
• Sickle Cell Anaemia Eradication for Tribals in Karnataka: Approximately 2.11 lakh beneficiaries (100% from vulnerable groups)
• Renal Care Service through Dialysis Machines: Approximately 50,000 beneficiaries per year
• IndianOil Shakti Sports Program: 19 beneficiaries since FY 2025-26 (100% from vulnerable groups)
• IndianOil Divyashakti Program: 100 beneficiaries since FY 2025-26 (100% from vulnerable groups)

CSR spending in government-identified aspirational districts has been disclosed across multiple states. Notable allocations include ₹643.36 lakhs in Begusarai (Bihar) and ₹430.60 lakhs in Muzaffarpur (Bihar). The company has also partnered as a principal sponsor to support key events of the Paralympic Committee of India in the lead-up to the Los Angeles Paralympic Games 2028.

Governance, Procurement, and Compliance

The company reported nil monetary penalties, fines, or compounding fees during FY 2025-26 across all nine NGRBC principles. Total procurement from Micro and Small Enterprises (MSEs) during FY 2025-26 was 51.07% of annual eligible procurement, including MSE (SC/ST) at 4.03% and MSE (Women) at 3.39%. The company confirmed full compliance with applicable environmental laws including the Water (Prevention and Control of Pollution) Act, the Air (Prevention and Control of Pollution) Act, and the Environment Protection Act. The BRSR for FY 2025-26 has been prepared in accordance with SEBI's BRSR framework and forms an integral part of the company's ESG disclosures, to be read in conjunction with its Integrated Annual Report.