Oil India has reported a consolidated net profit of ₹7,551 crore for the fiscal year 2026, representing a 7% growth compared to the previous year. The company's consolidated revenue from operations stood at ₹38,981 crore, with a 3% year-on-year increase. On a standalone basis, the profit after tax surged 90% to ₹3,065 crore, while revenue reached ₹26,658 crore, growing by 5%. The board has declared a total dividend of ₹11.5 per share for the year.

Operational Performance and Drilling Expansion

The company achieved its highest daily crude oil production in the last decade at 10,566 MT per day. Oil India also recorded its highest-ever drilling performance, completing 74 wells in FY26. Building on this momentum, the company aims to increase its well count to 100 by FY27, reflecting a concerted push to ramp up hydrocarbon exploration and production activity.

The drilling scale-up targets are summarised below:

Strategic Investment and Renewable Energy Targets

Oil India has reiterated its strategic investment plan of ₹20,000 crore by 2040, focusing on expanding its renewable energy footprint and advancing green hydrogen capabilities. The company is targeting over 5 GW of renewable energy capacity alongside a 1 MW green hydrogen project as part of its long-term energy transition roadmap.

The key highlights of Oil India's long-term energy investment plan are outlined below:

The company's market capitalization stood at ₹82,000 crore as of May 20, 2026, reflecting a 32% growth from the start of the fiscal year.

Oil India Limited has announced a modest but significant gas discovery at its nominated Dandewala Field in Rajasthan. The company reported that the well recorded an inflow of an average of 25,000 SCMD of natural gas from a depth of approximately 950 meters. This inflow indicates encouraging deliverability and potential for the field.

This development marks the first-ever successful establishment of gas presence in the shallower Sanu Formation within the Dandewala field. Consequently, this opens up a new play and validates the company's strategy of revisiting subsurface potential through focused technical interventions and a “missed opportunities” approach.

Preliminary estimates, based on structural control, petrophysical, and subsurface analysis, indicate a Gas In Place in the order of 75 MMSCM. This discovery notably enhances the overall prospectivity of the Dandewala field. The company believes this development augurs well for future appraisal and development efforts aimed at guiding and scaling up the resource potential and production in the field.

Key Discovery Details

The following table summarizes the key metrics associated with the discovery:

The announcement was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.