Oil India Limited (OIL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-128.7%

-₹130.04

vs ₹453.45 price

Levered DCF

-₹32.70

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	11.68×	9.57×	10.12×	3.13×	4.6×	3.77×	1.91×	4.27×
P/B	1.33×	1.26×	1.33×	0.47×	0.56×	0.38×	0.21×	0.48×
P/S	2.28×	1.93×	1.97×	0.5×	0.67×	0.4×	0.29×	1.03×
EV / EBITDA	8.41×	6.77×	7.34×	2.31×	2.88×	4×	2.47×	3.69×
Gross margin	55.9%	67.6%	68.8%	70.5%	62.2%	68.6%	90.8%	108.3%
Operating margin	22.8%	34.1%	37.0%	41.0%	38.0%	21.8%	27.7%	37.5%
Net margin	19.5%	20.2%	19.5%	24.2%	21.9%	15.8%	23.2%	24.1%
Current ratio	1.09×	1.23×	1.17×	1.69×	1.49×	1.02×	1.76×	1.45×
Debt / equity	0.65×	0.62×	0.5×	0.49×	0.55×	0.83×	0.45×	0.52×
Interest coverage	6.42×	12.37×	13.1×	19.25×	12.44×	7.34×	9.24×	8.08×
Dividend yield	2.9%	3.4%	3.3%	13.7%	8.0%	29.2%	50.2%	9.4%
Payout ratio	34.1%	32.2%	33.2%	28.6%	24.6%	73.5%	63.8%	40.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.4%	13.2%	13.1%	22.7%	18.4%	14.9%	16.3%	11.2%
Return on invested capital	5.6%	9.0%	11.5%	16.8%	13.4%	9.4%	12.2%	7.2%
Return on assets	5.3%	6.3%	6.9%	11.8%	9.2%	6.4%	9.1%	6.2%
Free cash flow yield	3.4%	-2.6%	-1.8%	15.9%	19.4%	23.8%	79.9%	40.8%
Earnings yield	8.6%	10.4%	9.9%	48.0%	32.6%	39.7%	78.7%	23.4%
Enterprise value	₹1.1T	₹861.5B	₹878.1B	₹366.8B	₹333.6B	₹275.2B	₹184.5B	₹252.2B
Net debt / EBITDA	2.68×	1.84×	1.98×	1.16×	1.39×	2.71×	1.67×	1.67×
Cash conversion cycle (days)	101	132	137	139	110	133	77	-119