Oil India Limited remained in focus in market trade after reporting a strong set of Q4 FY26 financial results, highlighted by a sharp rise in profitability, improved crude oil realizations, and a final dividend declaration.
The state-owned oil exploration and production company announced its FY26 results during its 580th Board Meeting held on May 13, 2026. The earnings update reflected sustained operational momentum supported by higher production levels and stronger pricing environment.
Q4 PAT Surges 62% YoY
Oil India reported a consolidated profit after tax (PAT) of ₹2,424 crore for Q4 FY26, marking a 62% year-on-year increase compared to ₹1,497 crore in the same quarter last year.
For the full financial year ended March 31, 2026, consolidated PAT stood at ₹7,551 crore, up from ₹7,040 crore in FY25, indicating steady annual growth driven by improved operational efficiency and better realisations.
On a standalone basis, the company posted a PAT of ₹1,790 crore in Q4 FY26 versus ₹1,591 crore in Q4 FY25.
Production Growth and Higher Realisations Drive Performance
The company’s earnings were supported by a 6% rise in crude oil production and improved price realisation. Crude oil realisation increased from USD 74.46 per barrel in Q4 FY25 to USD 77.89 per barrel in Q4 FY26.
Production during the quarter reached 0.891 million metric tonnes (MMT), compared to 0.844 MMT in the same period last year.
Oil India also reported its highest daily crude oil production in a decade at 10,566 metric tonnes, reflecting improved operational efficiency and field performance.
Record Operational Milestones in FY26
The company achieved several operational milestones during the year, including drilling 74 wells—its highest-ever annual drilling activity.
It also completed 307 workover operations during FY26, reflecting an aggressive maintenance and production enhancement strategy.
Oil India further reported a reserve replacement ratio above 1, indicating successful replenishment of reserves through exploration and development activities.
Dividend Declaration for FY26
The Board of Directors recommended a final dividend of ₹1 per equity share with a face value of ₹10. This comes in addition to interim dividends of ₹3.50 and ₹7 per share already distributed during the year.
The dividend announcement reflects the company’s continued focus on shareholder returns alongside operational expansion.
Strong Performance from NRL Subsidiary
Oil India’s subsidiary Numaligarh Refinery Limited also delivered a strong performance, reporting a 90% jump in PAT to ₹3,057 crore in FY26 compared to ₹1,608 crore in the previous year.
The refinery recorded a gross refining margin (GRM) of USD 13.43 per barrel, supported by strong refining spreads and efficient operations.
Share Price Movement
On May 14, 2026, Oil India shares opened at ₹525.40 and were trading at ₹521.75 by 11:42 AM, up nearly 2.89% on the NSE, reflecting positive investor reaction to the earnings announcement.
Summary
Oil India Limited reported a 62% YoY jump in Q4 FY26 consolidated PAT to ₹2,424 crore, driven by higher crude production and improved price realisations. The company also announced a final dividend of ₹1 per share and reported record operational achievements, including highest decade-level production and drilling activity. Strong performance from its subsidiary Numaligarh Refinery further supported overall results, keeping the stock in focus.
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