Pick of the Week: Oil India Limited

Oil India Limited is a Maharatna Central Public Sector Enterprise (elevated to Maharatna status in August 2023), incorporated in 1959 and headquartered in Duliajan, Assam, with the Government of India holding a 56.66% promoter stake. The company is engaged in the exploration, development, and production of crude oil and natural gas, along with LPG production, crude oil and gas pipeline transportation, and renewable energy generation; its subsidiary Numaligarh Refinery Limited adds downstream refining capacity. Oil India has delivered a 5-year consolidated sales CAGR of 14% and profit CAGR of 12%, though margins have moderated recently amid softer crude realizations. Unlike asset-light industrial peers, the company carries meaningful debt (37,478 Cr as of FY26) to fund its E&P and refinery expansion capex. It reported FY26 consolidated revenue of around ₹33,946 Cr and consolidated net profit of 7,551 Cr for FY26, with promoter (Government of India) holding steady at 56.66% over the past several years.