Oil India reported a record standalone consolidated profit after tax (PAT) of ₹2,870 crore for the first quarter of FY27. The Maharatna CPSE achieved this milestone amid an 11% year-on-year increase in crude oil production to 0.950 MMT.

The company held its 67th Annual General Meeting on September 17, 2026, where Chairman & Managing Director Dr. Ranjit Rath detailed the firm’s growth strategy. This included aligning offshore exploration with the government’s Samudra Manthan scheme and expanding clean energy initiatives under the GOBARdhan framework.

Production Highlights

Oil India achieved its highest-ever daily crude oil production of 10,921 MT (84,109 barrels) in Q1FY27. For the full fiscal year 2025-26, the company produced 3.450 MMT of crude oil and 3.186 BCM of natural gas. The terminal crude oil production rate reached 10,566 MTPD, marking the highest level in 14 years.

The company completed 74 wells during FY26, comprising 22 exploratory and 52 development wells. These efforts contributed to improving the Reserve Replacement Ratio (RRR) to 1.02 in FY26, strengthening the hydrocarbon reserve base. Oil India targets around 10 MMTOE of oil and gas production by the end of the decade.

Financial Performance

For FY26, Oil India reported a consolidated PAT of ₹7,551 crore. The group’s net worth stood at ₹53,716 crore. The board declared a total dividend of ₹11.50 per equity share. Capital expenditure during the year exceeded ₹21,673 crore, allocated across exploration, refining, pipelines, and strategic growth projects.

What the Numbers Show

The divergence between the full-year consolidated PAT of ₹7,551 crore and the Q1FY27 standalone PAT of ₹2,870 crore highlights significant operational leverage in the current quarter. The Q1 standalone profit alone accounts for approximately 38% of the previous full year’s consolidated bottom line, driven by record daily production volumes that surpassed the 14-year high recorded in FY26.

Strategic Initiatives

Offshore Exploration

Oil India’s offshore portfolio spans the Andaman, Krishna-Godavari, Mahanadi, and Kerala-Konkan basins. The company is leveraging the Samudra Manthan scheme, which has an outlay of ₹84,084 crore up to FY2030-31. Recent discoveries include natural gas occurrences at Sri Vijayapuram-2 and a gas discovery with continuous flaring at Sri Vijayapuram-3 in the Andaman basin.

Integrated Value Chain

The company continued expanding its refining capacity, with Numaligarh Refinery Limited progressing from 3 MMTPA to 9 MMTPA. The Numaligarh-Siliguri Product Pipeline was augmented from 1.72 MMTPA to 5.5 MMTPA, enhancing energy infrastructure in Northeast India.

Clean Energy Transition

Aligned with its Net Zero 2040 ambition, Oil India reduced Scope 1 & 2 emissions by about 18% against the FY24 baseline. Gas flaring decreased by 32%. Through its subsidiary OIL Green Energy Limited (OGL), the company is pursuing Compressed Bio-Gas (CBG) and Waste-to-Energy projects, supported by the GOBARdhan scheme’s ₹23,731 crore outlay.

Oil India has accepted the superannuation of Jyotirmoy Bhattacharya, Executive Director (Finance), effective August 31, 2026. The Maharatna CPSE disclosed the change in senior management following the close of working hours on that date.

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bhattacharya served in a senior management role, positioned one level below the Board of Directors.

Ajaya Kumar Sahoo, Company Secretary and Compliance Officer, signed the disclosure on behalf of the company. The filing was dated August 31, 2026, and submitted to both the National Stock Exchange of India Limited and BSE Limited for information and record purposes.

This transition marks a routine leadership change within the organization’s finance vertical. No immediate replacement or interim arrangement was specified in the current disclosure.