Oil India share price target: Brokerages have largely maintained a positive stance on state-run Oil India Ltd following it’s Q2FY27 earnings with up to 27 per cent upside potential. Oil India on November 12 had reported a 61.6 per cent year-on-year jump in consolidated net profit attributable to equity shareholders at Rs 2,309.03 crore in Q2FY27, compared with Rs 1,428.83 crore in the corresponding quarter last year.
Meanwhile, the company’s revenue from operations rose 29.9 per cent YoY to Rs 11,914.8 crore, while total income increased 26.9 per cent to Rs 12,303.71 crore.
Oil India share price target 2026
DAM Capital maintains ‘Buy’, sees target of Rs 512
According to the brokerage, Oil India delivered a decent set of quarterly results, with EBITDA coming in ahead of expectations due to lower contract costs. However, profit after tax (PAT) was below estimates after the company made a provision related to its first exploratory well in the Andaman region, which turned out to be a dry well.
The brokerage noted that gas production was slightly better than expected, while oil production remained strong and broadly in line with estimates. It has also highlighted that Numaligarh Refinery Ltd’s (NRL) EBITDA performance was softer than peers and free cash flow remained weak for both the standalone business and NRL.
Emkay sees highest upside; target at Rs 575
The target suggests a potential upside of nearly 27 per cent.
PL Capital retains ‘Accumulate’ rating
PL Capital has maintained its ‘Accumulate’ rating on Oil India and revised its target price to Rs 494 from Rs 512 earlier. The target implies an upside potential of 11.8 per cent from the current market price of Rs 442.
The board of directors has recommended an interim dividend of Rs 7 per equity share of face value Rs 10 each for eligible shareholders.
Oil India Ltd’s total income increased 26.9 per cent to Rs 12,303.71 crore in the quarter under review, compared with Rs 9,692.58 crore in the year-ago period.
The company’s crude oil segment, including condensate, registered a 75 per cent YoY increase in revenue to Rs 6,146.08 crore during Q2FY27, compared with Rs 3,512.25 crore in the corresponding period last year.
Revenue from the refinery products segment grew 24 per cent to Rs 7,990.85 crore during the quarter, up from Rs 6,442.77 crore in Q2FY26.
The natural gas business recorded a 16.2 per cent increase in revenue to Rs 1,649.03 crore in the quarter under review, compared with Rs 1,418.65 crore in the year-ago period.
Meanwhile, revenue from the LPG segment increased 12.4 per cent to Rs 52.08 crore during the quarter, against Rs 46.33 crore in Q2FY26.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)