Motilal Oswal's research report on IOCL
IOCL’s EBITDA came in 36% above our estimate at INR216b in 3QFY26 due to higher-than-anticipated GRM (USD12.3/bbl). Blended marketing margin also came in 8% above our estimate at INR6.3/liter. Refining inventory loss stood at USD1.2/bbl. However, refining throughput and marketing volumes came in line.
Outlook
The stock trades at 10.3x consolidated FY27E EPS of INR17.1 and 1.1x FY27E P/B. We reiterate our neutral rating on the stock with a TP of INR165, valuing it at 1x FY27E P/B.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
