Interim report
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No. Secl/Listing 30th October 2026 National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Bandra –Kurla Complex, Bandra (E), Mumbai – 400051 BSE Ltd. 25th Floor, P J Tower, Dalal Street, Mumbai – 400001 Scrip Symbol: IOC Scrip Code: 530965 Ref.: ISIN: INE242A01010 Dear Sir, Sub : Integrated Filing (Financial) for the quarter and half year ended 30th September 2026 This is further to our letter dated 13th October 2026 intimating the date of the Board Meeting of the Company for consideration of unaudited financial results. In this regard, p lease find enclosed herewith the Integrated Filing (Financial) of the Unaudited Financial Results (Standalone and Consolidated) with limited review report for the quarter and half year ended 30th September 2026, approved by the Board of Directors of the Company at its meeting held today i.e. on 30th October 2026 (Annexure – I). Additional Quarterly Disclosure a) Disclosure under Regulation 52(7) & 52(7A) of SEBI (LODR) : Please find enclosed herewith the Statement indicating no Deviation or Variation in the use of proceeds of issue of listed non - convertible unsecured debentures for the quarter ended 30th September 2026 (Annexure-II). b) Disclosure under Regulation 54(3) of SEBI (LODR) : Please find enclosed herewith Nil Report in respect of Security Cover as per the prescribed format (Annexure-III). c) Statement on deviation or variation for proceeds of public issue , rights issue, preferential issue, qualified institutions placement etc.: Not applicable d) Format for disclosing outstanding default on loans and debt securities: There is no default in the payment of outstanding Loans / revolving facilities, Unlisted debt securities. The meeting of the Board of Directors commenced at 1:00 PM and concluded at 3:45 PM. The above information is also available on the website of the Company at www.iocl.com . Yours faithfully, For Indian Oil Corporation Limited (Kamal Kumar Gwalani) Company Secretary
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Annexure-| MKPS&ASSOCIATESLLP RAMAKGUPTA&CO. BORKAR & MUZUMDAR 5 GUHA & ASSOCIATES (formerly MKPS & Associates) Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants 4th floor, 404 21/168, Anand Nagar CJ - 240, Sector —H Metro Tower, 47 Floor, न Laxmideep building Om Chs, Anand Nagar Lane, Salt Lake City Room No. 4C, 170 Centrai District Centre, Laxmi Vakola, Santa Cruz East, Kolkata — 700091, West Avenue, Near MG Road Metro Nagar, New Delhi-1]0092 = Mumbai- 400055, Maharashtra Bengal Kolkata — 700007 LLPIN — ACK-5279 INDEPENDENT AUDITORS’ LIMITED REVIEW REPORT ON THE UNAUDITED STANDALONE FINANCIAL RESULTS OF INDIAN OIL CORPORATION LIMITED FOR THE QUARTER AND HALF YEAR To ENDED 30 SEPTEMBER 2026 . The Board of Directors Indian Oi! Corporation Limited New Delhi We have reviewed the accompanying statement of Unaudited Standalone Financial Results of Indian Oil Corporation Limited (“the Company”) for the quarter and half year ended 30 September 2026 (“the Statement”) attached herewith, prepared by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"), except for the Physical Performance {in MMT) disclosures in the statement, which are based on management representation. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors in their meeting held on 30 October 2026, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (“Ind AS 34”) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable Indian Accounting Standards (Ind AS) and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation 33 and 52 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
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Other Matters 5. The Statement includes Company's proportionate share, in the 22 joint operations where Company is not an operator (out of which 6 blocks are relinquished}, whose results reflect total revenues of 93,64 crore and %166.1 crore, and total net profit before tax of 387.94 crore and %132.36 crore for the quarter and Half year ended 30 September 2026, respectively, which have not been reviewed by their auditors, These interim financial results / information are considered based on the information provided by the Company's management and procedure performed by us as stated in paragraph 3 above. According to the information and explanations given to us by the Management of the Company, these interim financial results/ information are not material to the Company. 6. The Company did not have the minimum number of Independent Directors (including one Woman Independent Director) and Non-Executive Directors required in terms of the provisions contained in the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, throughout the reporting period in respect of the composition of its Board of Directors. Further, due to non-availability of any Independent Director w.e.f. 28 March 2026, the Audit Committee, the Nomination & Remuneration Committee & the CSR Committee and other mandatory relevant committees were discontinued and have not been reconstituted till the date of reporting. 7. The financial results for the year ended March 31, 2026 were audited, and those for the quarter ended June 30, 2026 and the quarter and half year ended September 30, 2025 were reviewed by the then four joint Auditors of the Company, one of whom continues as a Joint Auditor. They expressed an unmodified opinion and unmodified conclusions in their respective reports dated May 18, 2026, July 31, 2026 and October 27, 2025. Our conclusion is unchanged in this matter. Our conclusion on the Statement is not modified in respect of the above matters. F TA &C FOR BORKAR& FR - ८ For MK PS & ASSOCIATES lama oRAMA K GUPTA & CO. MUZUMDAR ‘or § GUHA & ASSOCIATES Chartered Accountants hartered Accountants Chartered Accountants Chartered Accountants Firm Regn. No. 302014E/ W101061 ऐड —— oo Sr tbs Mitea, Firm Regn, No. 00500. Firm Regn. No.101569W Firm Regn, No. 322493E Mahendra Kumar Agrawala AbhayGupta * Brijmohan Agarwal Sourabh Mitra Partner Partner Partner Partner M. No, - 051764 M. No. - 087679 M. No. - 033254 M, No. - 308743 UDIN:26051764W2ZVFWM6311 UDIN: 26087679GBAWQT8762 UDIN:26033254MMTDDB5828 UDIN:26308743KUTEXT2987 Place: New Delhi Date: October.30, 2026
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INDIAN OIL CORPORATION LIMITED Indianoil [CIN -L19201MH1959G01012388] Regd. Office : indianOil Bhavan, 5-9, All Yavar Jung Marg, Bandra (East), Mumbai - 400 052 Website: wanw.iocl.com &mail iD: investors@indianoil.in STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER 2026 2 In Crore} FOR QUARTER ENDED FOR SIX MONTH ENDED FOR THE YEAR ENDED PARTICULARS 30.09.2026 30.06.2026 30.09.2025 30.09.2026 | 30.09.2025 31.03.2026 | UNAUDITED | UNAUDITED | UNAUDITED | | —sUNAUDITED | AUDITED a FINANCIAL PERFORMANCE 1, Revenue from Operations (Refer Note 4} 2,62,935.58 2,75,971.77 2,02,992.34 5,38,907.35 4,21,600.04 8,86,224.41 2, Other Income 2,700.75 385.15 1,522.83 3,085.90 2,135.98 4,988.31 3. Total Income (242) 2,55,636.33 2,76,356.92 2,04,515.17 $41,993.25 4,23,736.02 8,91,212.72 4 Expenses {a) Cost of Materials Consumed 1,20,973.22 1,71,135.97 89,938.61 2,92,109.19 186,599.63 381,790.55 (0) Excise Duty 12,574.54 43,536.21 24,112.68 26,110.85 49,749.79 1,02,066.54 (c) Purchases of Stock-in-Trade 81,694.28 94,857.94 62,759.92 1,76,552.22 125,860.45 2,56,9B1.77 (d) Changes in Inventories of Finished Goods, Stock In trade and Work-in-progress 195.13 {20,924.89} {5,055.96} (20,729.76) 273.59 5,899.50 (९) Employee Benefits Expense 2,740.88 2,436.96 2,750.97 5,177.84 5,674.68 10,788.96 (f) Finance Costs 2,364.45 1,609,982 2,169.35 3,974.27 4,142.02 7,969.02 (g} Depreciation, Amortization and impairment Expense 4,017.07 3,996.46 3,871.11 8,013.53 7,713.89 16,964.82 {h} Impairment Loss (including reversal of impairment lass} on Financial Assets 346.05 58.27 ड.34 414.32 9.49 2,361.13 {i} Net loss on de-recognition of Financial Assets st Amortised Cost 1.09 0.71 0.29 2.80 0.80 5.62 0] Other Expenses 14,113.00 12,933.67 13,894.29 27,026.67 26,241.20 57,600.40 Total Expenses 2,39,019.71 —2,79,631.22 1,94,449,60 5,18,650.93 4,06,265.54 842,428.31 5. Profit? (Loss) before Tax (3-4) 26,616.62 (3,274.30) 10,065.57 23,342.32 17,470.48 “48,784.41 &. Tax Expense . - Current Tax 3,101.25 (265.03) 2,226.05 2,836.22 3,701.71 41,757.63 - Deferred Tax 2,885.34 (347.90) 229.07 1,537.44 469.72 224.36 4,986.59 (612.93) 2,455.12 4,373.66 4,171.43 11,981.99 7. Net Profit/ (Loss) for the perlad (5-6) 21,630.03 (2,661.37) 7,610.45 18,968.66 13,295.05 36,802.42 8. Other Comprehensive Income A (i) tems that will not be reclassified to profit or loss (691.21) (4,795.22) (866.62) (5,486.43) (572.17) 3,833.92 A (ii} Income Tax relating to items that will not be reclassified to profit or lass 97.15 706.59 115.43 803.74 77.88 {573.31} 8 {i) Items that will be reclassified to profit ar 1055 22.01 342.61 (235.58) 364.62 (38.37) {541.56} 8 (il) fneome Tax eelating ta items that will be reclassified to profit or 1055 (23.14) (70.08) 30.09 (93:22) 5.05 118.07 (595.19) (3,816.10) (856.68) (4,412.29) (527.61) 2,837.12 9. Tetal Comprehensive income for the period (7+8) 21,034.84 (6,477.47) 6,753.77 14,557.37 12,771.44 39,639.54 10. Paid-up Equity Share Capltal (Face value - % 10 each) 14,121.24 14,121.24 34,122.24 14,221.24 14,121.24 14,121.24 11, Other Equity excluding revaluation reserves 1,90,772.78 12. Earnings per Share (%} (Refer Note 3} - Basic 15.71 (1.93) 5.53 13.77 9.66 26.72 - Diluted 15.71 (1.93) 5.53 13.77 9.66 26.72 (Face value - % 10 each} 8. PHYSICAL PERFORMANCE (IN MMT) 1, Praduct Sales - Domestic 23.977 25.252 22,851 49.229 47,824 99.904 ~ Export 1.251 0.959 LAL 2.210 2.766 5.213 2. Refineries Throughput 18.108 19.165 17.608 37,273 36.292 75.451 3. 25.348 28.548 24.087 53.896 50.343 105.556 Pipelines Throughput Also Refer accompanying notes to the Financial Results
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STATEMENT OF ASSETS AND LIABILITIES - STANDALONE (Xin Crore) AS AT PARTICULARS 30.09.2026 | 31.03.2026 | UNAUDITED AUDITED A. ASSETS 1. Non-Current Assets {a) Property, Plant and Equipment 1,91,253.78 1,87,894.12 (9) Capital Work-in-Progress 82,708.81 82,577.56 (८) Intangible Assets 3,620.49 3,572.96 (9) Intangible Assets under Development 2,612.07 2,516.49 (९) Financial Assets {i) Investments 59,526.93 64,771.13 (1) [0915 3,142.46 3,155.41 {iii} Other Financial Assets 646.59 428.49 (f) Income Tax Assets (Net) 1,274.11 1,338.18 (8) Other Non-Current Assets 3,884.80 3,983.00 Sub Total - Non-Current Assets 3,48,670.04 3,50,237.34 2. Current Assets (a} Inventories 1,45,546.71 1,07,484.12 (9) Financial Assets न (i) Investments 6,080.88 6,099.75 (ii) Trade Receivables «23,970.84 14,229.15 (ifi} Cash and Cash Equivalents 90.39 281.41 (iv) Bank Balances other than above 123.57 240,16 (v) Loans 605.88 542.49 {vi) Other Financial Assets 6,202.99 6,460.20 (c) Other Current Assets 4,995.14 5,808.79 Sub Total - Current Assets 1,87,616.40 1,41,146.07 Assets Held for Sale 150.12 151,71 1,87,766.52 1,41,297.78 TOTAL ASSETS 5,36,436.56 4,91,535.12 B. EQUITY AND LIABILITIES 1. Equity (a) Equity Share Capital (Refer Note 3) 13,771.56 13,771.56 (b} Other Equity 2,03,608.70 —_1,90,772.78 Sub Total - Equity 2,17,380.26 2,04,544.34 LIABILITIES 2. Nen-Current Liabilities (a} Financial Liabilities (i) Borrowings 52,218.77 52,380.18 (ii) Lease Liabilities 8,527.91 8,545.60 (iii) Other Financial Liabilities 536.02 678.11 (0) Pravisions 872.86 861.76 (c}) Deferred Tax Liabilities (Net) 19,762.34 18,935.42 (४) Other Non-Current Liabilities 4,858.43 4,741.88 Sub Total - Non-Current Liabilities 86,776.33 86,142.95 3. Current Liabilities (a) Financial Liabilities (i) Borrowings 64,359.25 58,288.04 [1] Lease Liabilities 3,576.83 3,388.78 {iii} Trade Payables Total outstanding dues of Micro and Small Enterprises 1,283.71 1,515.77 Total outstanding dues of creditors other than Micro and Small Enterprises 69,225.75 49,900.75 (iv) Other Financial Liabilities 52,500.28 57,203.66 (0) Other Current Liabilities 27,857.57 19,645.91 {c) Pravisions 10,386.11 9,980.14 (d) Current Tax Liabilities (Net) 3,090.47 924.78 Sub Total - Current Liabilities __2,32,279.97 2,00,847.83_ TOTAL EQUITY AND LIABILITIES 5,36,436.56 —_4,91,535.12
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STATEMENT OF CASH FLOWS - STANDALONE {® in Crore) FOR SIX MONTH ENDED FOR THE YEAR ENDED PARTICULARS 30.09.2026 30.09.2025 | 32.03.2026 | UNAUDITED | UNAUDITED |} ६1010 _ | 2. CASH FLOWS FROM OPERATING ACTIVITIES 1 Profit/ (Loss) Before Tax 23,342.32 17,470.48 48,784.41 2 Adjustments for: Depreciation, Amortisation and Impairment on Property, Plant & Equipment and Intangible Assets 8,013.53 7,713.89 16,964.82 Loss/{Profit) on Assets sold or written off (Net) (47,24) 23.18 (411.35) Amortisation of Capital Grants {30.18) (29.23) (53.09) Provision for Probable Contingencies (net) (2.21) (46.69) (104.76} Fair Vatue loss/{gain) on financial instruments classified as fair value through profit and loss - (0.65) (0.65) Unclaimed / Unspent liabilities written back {220.23} {194.07} (478.79) Derecognition of Financial Assets and Advances & Claims written off 5.56 271 48.33 Provision for Doubtful Advances, Claims and Stores (net) 304.22 213.31 1,447.50 impairment toss on Financial Assets (Net) 414.32 9.45 2,361.13 Loss/{gain} on Derivatives 133.73 188.58 650.92 Exchange Loss/ (Gain) 01 Borrowings and Lease Liabilities 101.25 2,431.84 4,825.63 interest Income (638,63) (907.02) (1,687.99) Dividend Income (2,330.40) (1,163.87) (2,740.10) Finance costs 3,974.27 4,142.02 7,969.02 Amortisation and Remeasurement (Net) of PMUY Assets _ 24.86 (6.32) ॒॒ 13.55 ३ Operating Profit before Working Capital Changes (1+2) 33,045.12 29,847.65 77,588.58 4 Change in Working Capital (excluding Cash & Cash Equivalents): Trade & Other Receivables {8,956.98} (791.89} 723,53 Inventories . (38,069.07) 168.86 (1,908.94) Trade and Other Payables 24,459.97 5,016.45 4,906.39 Change In Working Capital (22,566.08) 4,393.42 3,720.98 5 Cash Generated from Operations (3+4) 10,479.04 34,241.07 81,309.56 6 Less: Taxes paid 606.46 2,965.09 9,910.99 7 Net Cash Flow generated from/ (used In) Operating Activities (5-6) 9,872.58 31,275.98 71,398.57 8. CASH FLOWS FROM INVESTING ACTIVITIES Proceeds fram Sale of Property, Plant & Equipment 117.10 207.36 1,215.74 Purchase of Property, Plant & Equipment and Intangible Assets (1,852.19) (1,404.82) (3,148.96) Expenditure on Construction Work in Progress (9,046.26) (13,519.96) (23,272.13) Proceeds from 5818 of Investments = 500.00 3,667.20 investment in subsidiaries (89,24) 2 - Investment in Joint Ventures & Associates (541,24) (419,29) {583.26} Loans & Advances to Subsidaries, Joint Ventures & Associates (7.00) (3.35) (29.67) Repayment towards Loans & Advances taken by Subsidaries, Joint Ventures & Associates 21.00 - 10.00 Receipt of government grants (Capital Grant} न - 135.80 Interest Income received 573.29 883.48 1,703.40 Dividend Incame on Investments 2,330.40 1,163.87 2,740.10 Net Cash Flow generated from / (used in) Investing Activities (8,494.14) (12,587.71) {17,661.78) C. CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from Long-Term Borrowings 9,079.01 2,518.96 12,110.15 Repayments of Long-Term Borrowings (2,265.88) (5,040.91) (13,389.59) Payments of Lease Liabilities (1,487.40) (1,768.93) (3,168.92) Proceeds fram/(Repayments of) Short-Term Borrewings (1,490.95) (6,517.65) (27,318.22) Interest paid (3,679.42) (3,968.21) (8,182.73) Dividend paid (1,724.82) (4,128.32) (93,769.24) Net Cash Flow generated from / (used in) Financing Activities (1,569.46) — (18,905,06} (53,718.55) D. NET CHANGE IN CASH & CASH EQUIVALENTS (A+B+C) _ [६192.02) (296.79) 8.24 E1 Cash & Cash Equivalents as at end of the period/year 90.39 46.38 28141 E2 Less: Cash & Cash Equivalents as at the beginning of period/year 281.41 263.17 263.17 NET CHANGE IN CASH & CASH EQUIVALENTS (E1 - ६2) _ (39202) (27679) 1824 Notes: 1. Significant non-cash movements in investing and financing activities during the period/year include: {a} acquisition of assets by way of lease (net of upfrant premium} 1,890.92 1,809.80 5,125.21 (b} unreallsed exchange loss/ (gain) on borrowings and lease liabilities 662.91 2,101.41 4,359.87 2. Statement of Cash Flows is prepared using Indirect Method as per Indian Accounting Standard-7: Statement of Cash Flows, 00 of Cash Flows.
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Notes to Unaudited Standalone Financial Results: 1, Due to non-availability of Independent Directors on the Board of the Company, the Audit Committee has been discontinued with effect from 287 March 2026. In view thereof, the Financial Results have been reviewed and approved by the Board of Directors in its meeting held on 30" October 2026. 2. The Financial Results have been reviewed by the Statutory Auditors as required under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 3. The Equity Share Capital in the Statement of Assets and Liabilities excludes shares held under “IOC Shares Trust” of face value 3349.68 crore and the same is not considered as part of Paid-Up Equity Shares for computing Earning Per Share. 4. The Ministry of Petroleum and Natural Gas (MoPNG), vide letter dated 30.04.2020 had conveyed to Oi! Marketing Companies (OMCs) that where Market Determined Price (MDP) of LPG cylinders is less than its Effective Cost to Customer (ECC), the OMCs will retain the difference in a separate buffer accaunt for future adjustment. However, as on 307 September 2026, the Company had a cumulative net negative buffer of 232,505.69 crores. MOPNG, vide letters dated 3 and 247 October 2025, has conveyed Government's approval for compensation of %14,486 crores to the Company, towards under-recoveries incurred on sale of domestic LPG up to 31.03.2025 and likely to be incurred up to 31.03.2026 and it will be disbursed in 12 equal monthly instalments, the accrual of which shall only be on monthly basis starting from November 2025 and thereafter will be disbursed accordingly. In accordance with the letters, instalment for the period from April 2026 to September 2026 aggregating to %7,243.02 crores have been recognized as Revenue from Operations in the books of account and the cumulative net negative buffer has been reduced to that extent. 5. Figures relating to the previous periods have been regrouped wherever necessary to conform to the figures of the current period.
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ADDITIONAL DISCLOSURES AS PER 5581 (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS} REGULATIONS, 2015 - STANDALONE FOR QUARTER ENDED FOR SIX MONTH ENDED FOR THE YEAR ENDED PARTICULARS 30.09.2026 | 30.06.2026 | 30.09.2025 | 30.09.2026 | 30.09.2025 | «31.03.2026 | UNAUDITED | UNAUDITED | UNAUDITED UNAUDITED AUDITED (a) Debt Equity Ratio (Times) 0.54 0.71 0.68 0.54 0.68 0.54 [(Non-Current Borrowings + Current Borrowings)/ Total Equity] (b) Debt Service Coverage Ratio (Times) 7.76 0.62 2.27 3.70 2.17 2.39 [Profit after Tax + Finance Cost in P&L + Depreciatian]/ [Finance Costs (P&L + Capitalised) + Lease & Principal Repayment {Long Term}] (c} Interest Service Coverage Ratio (Times) 12.13 1.23 6.59 7.65 6.13 7.98 {Profit before Tax + Finance Cast in P&L + 06|/8८7४०॥]/ [Finance Casts (P&L + Capitalised)] {d) Capital Redemption Reserve (% in Crore} - * रु . = गन {e) Bond Redemption Reserve (९1 Crore) . . = = . . (f} Net Worth (8 in Crore) 2,17,380.26 1,98,066.87 1,87,316.63 2,17,380.26 —1,87,316.63 2,04,544.34 [Total Equity] (8) Current Ratio (Times) 0.81 0.72 0.67 0.81 0.67 0.70 [Current Assets/ Current Liabilities] (h) Long Term Debt to Working Capital (Times) (1.17) (0.80) (0.73) (1.17) (0.73) (0.88) {Non-Current Borrowings/ (Current Assets — Current Liabilities)] (l) Bad Debts to Account Receivable Ratio (Times) 0.00 0.00 0.00 0.00 0.00 0.00 [Bad Debts/ Average Trade Receivable] {j) Current Liability Ratio (Times) 0.73 0.74 0.72 0.73 0.72 0.70 [Current Liability/ (Non- Current Liability + Current Liability)] (0 Total Debts to Total Assets (Times) 0.22 0.27 0.26 0.22 0.26 0.23 [(Non-Current Borrawings + Current Borrowings)/ Total Assets] (I) Trade Receivables Turnover (Times) 12.69* 17.56* 11.52" 27.69* 23.10* 54.61 [Sales (Net of Discounts} / Average Trade Receivable] (m) Inventory Turnover (Times) 1.83* 2.23* 1.95* 4.18* 3.97* 8.21 [Sales (Net of Discounts} / Average Inventory] (n) Operating Margin (3%) 9.99% (0.7494) 5.28% 4.50% 4.62% 5.84% I{Profit before Tax + Finance Costs - Other Income)/ Revenue from Cperations] (0) Net Profit Margin (%) 8.23% (0.9694) 3.75% 3.52% 3.15% 4.15% [Profit after Tax/ Revenue from Operations] a * Not Annualised Note: All figures are rounded up ta two decimals.
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SEGMENT WISE INFORMATION - STANDALONE {® in Crore) FOR QUARTER ENDED FOR SIX MONTH ENDED FOR THE YEAR ENDED PARTICULARS, 30.09.2026 30.06.2026 30.09.2025 30.09.2026 | 30.09.2025 | 31.03,2026 | UNAUDITED | UNAUDITED | UNAUDITED UNAUDITED AUDITED 1. SEGMENT REVENUE (a) Petroleum Products 2,41,877.01 = 2,59,771,93 1,89,424.73 5,01,648.94 3,95,302.38 8,30,555.76 (0) Petrachemlicals 10,041.34 9,516.94 6,391.35 19,558.28 13,155.45 28,102.02 (०) Gas 16,755.33 14,481.49 11,134.78 31,236.82 21,444.06 44,512.15 (d) Other Business Activities 447.14 515.26 355.86 962.40 787.57 1,699.05 Sub-total 2,69,120.82 2,84,285.62 2,07,306.72 553,406.44 4,30,689.46 9,04,868.98 Less: Inter-segment Revenue 6,185.24 8,313.85 4,314.38 14,499.09 9,089.42, 18,644.57 REVENUE FROM OPERATIONS 2,62,935.58_ 2,.75,971.77 2,02,992.34 5,38,907.35 4,21,600.04 8,86,224.41 2. SEGMENT RESULTS: {a} Profit Befare Tax, Interest income, Finance Casts, Dividend and Exceptional ttems from each segment (i) Petroleum Products 24,935.01 (2,872.56) 11,268.80 22,062.45 20,406.76 56,461.56 {ii) Petrachemicals 528.40 216.85 168.42 745.25 167.40 1,015.02 (ii} Gas 1,237.67 526,05 243,49 1,763.72 293.90 (254.91) (iv) Other Business Activities _ 27529. (2.47) (1282) 27282 (387.28) (525.16) Sub-total (a) 26,776.37 (2,132.13) 11,667.89 24,644.24 20,480.78 $6,696.51 {b) Finance Costs 2,364.45 1,609.82 2,169.35 3,974.27 4,142.02 7,969.02 {c) Other un-allocable expenditure {Net of un-aliocable income) (2,204.70) (467.65) (567.03) (2,672.35) (1,131.72) (56.92) TOTAL PROFIT/(LOSS) BEFORE TAX (a-b-c) _ 26,616.62 (3,274.30) 10,065.57 23,342.32 17,470.48 48,784.01 3. SEGMENT ASSETS: fa) Petraleum Products 3,98,673.39 379,690.75 351,332.51 3,98,673.39 3,51,332.51 353,546.57 (b) Petrochemicals 47,493.04 49,886.41 42,335.40 47,493.04 42,335.40 45,224.57 (c} Gas 16,290.96 14,868.26 14,877.14 16,290.96 14,877.14 14,125.75 (d} Other Business Activities 2,772.42 2,730.79 2,639.51 2,772.42 2,639.51 2,582.05 {e) Unallocated 71,206.75 74,532.10 75,478.36 74,206.75 75,478.36 76,056.18 TOTAL __5,36,436.56 5,18,707.31 4,86,662.92 536,436.56 4,86,662.920 0 4,91,535.12 4, SEGMENT LIABILITIES: (3) Petroleum Products 156,586.82 1,35,254.40 1,34,716.82 1,56,586.82 —1,34,716.82 1,33,819.82 (b) Petrochemicals 3,618.32 3,478.94 2,446.92 3,618.32 2,446.92 2,888.34 (०) Gas 5,391.76 8,159.41, 3,984.96 5,391.76 3,984.90 5,805.38 (7) Other Business Activities 913.68 1,049.03 950.74 913.68 950.74 998.86 (९] Unallocated 152,545.72 172,698.66 157,246.91 152,545.72 157,246.91 143,474.38 TOTAL __3,19,056.30 3,20,640.44 2,99,346.29 3,19,056.30 2,.99,346.29 2, 86,990.78 Notes: A. Segment Revenue comprises Revenue from Operations (Inclusive of excise duty) and Other Operating Revenues. B. Other Business Activities segment of the Company comprises; 0॥ & Gas Exploration Activities, Explosives & Cryogenic Business and Wind Mill & Solar Power Generation. C. Figures relating to the previous periods have been regrouped wherever necessary to conform to the figures of the current period. BY ORDER OF THE BOARD Cos (ANUJ JAIN) Place: New Delhi DIRECTOR (FINANCE) Dated: 30 October 2026 DIN: 16310088
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MKPS&ASSOCIATESLLP RAMAKGUPTA&CO. BORKAR & MUZUMDAR S GUHA & ASSOCIATES (formerly MKPS & Associates} Chartered Accountants Chariered Accountants Chartered Accountants Chartered Accountants Ath floor, 404 21/168, Anand Nagar CI — 240, Sector — II Metro Tower, 4" Floor, Laxmideep building Om Chs, Anand Nagar Lane, Salt Lake City Room No. 4C, 170 Central District Centre, Laxmi Vakola, Santa Cruz East, Kolkata — 700091, West Avenue, Near MG Road Metro Nagar, New Delhi-110092 Mumbai- 400055, Maharashtra Bengal Kolkata - 700007 LLPIN — ACK-5279 INDEPENDENT AUDITORS’ LIMITED REVIEW REPORT ON THE UNAUDITED CONSOLIDATED FINANCIAL RESULTS OF INDIAN OIL CORPORATION LIMITED FOR THE QUARTER AND HALF YEAR To ENDED 30 SEPTEMBER 2026 The Board of Directors Indian Oil Corporation Limited New Delhi है We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Indian Oil Corporation Limited (“the Holding Company’), its Subsidiaries (the Holding Company and its Subsidiaries together referred to as “the Group"), and its share of the net profit after tax and Total Comprehensive Income of its Associates and Joint Ventures for the quarter and half year ended 30 September 2026 (“the Statement’), prepared by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). This Statement which is the responsibility of the Holding Company’s Management and approved by the Holding Company’s Board of Directors in their meeting held on 30 October 2026, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (“Ind AS 34”) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Holding Company’s personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the 558] under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015, as amended, to the extent applicable. Conia | $ a Sered 41६0४
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4, 5. The Statement includes the results of entities listed in Annexure - I. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the reports of other auditors referred to in paragraph 6 below and the management certified interim financial information referred to in the Other Matters section below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 and 52 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Other Matters 6. We did not review the interim financial results/ information of one Subsidiary included in the statement, whose interim financial results/ information reflect total assets of 721,040.65 crore as at 30 September 2026, total income of %22,074.34 crore and %51,450.79 crore, total net profit after tax of 22,247.03 crore and 23,278.38 crore and total comprehensive income of 22,261.64 crore and %3,287.96 crore for the quarter and half year ended 30 September 2026, respectively, and net cash inflows/(outflows) of %(904.76) crore for the half year ended 30 September 2026, as cansidered in the consolidated unaudited financial results. The statement also includes the Holding Company’s share of total net profit after tax of $295.09 crore and 2533.40 crore and total comprehensive income of %295.96 crore and = 533.99 crore for the quarter and half year ended 30 September 2026, respectively, in respect of one Joint Venture, whose interim financial results/information we have not reviewed. These interim financial results /information of the Subsidiary and Joint Venture have been [reviewed /audited, as applicable] by other auditors, whose reports have been furnished to us by the Management of the Holding Company. Our conclusion on the Statement, insofar as it relates to the amounts and disclosures included in respect of this Subsidiary and Joint Venture, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 of our Limited review report. : The Statement includes the interim financial results/ information of ten Subsidiaries, which have not been reviewed by their auditors, whose interim financial resuits/ information reflect total assets of 35,867.28 crore as at 30 September 2026, total income of 24,938.32 crore and 219,239.62 crore, total net profit after tax of 3540.67 crore and 3875.93 crore and total comprehensive income of %623.80 crore and %940.44 crore for the quarter and half year ended 30 September 2026, respectively, and net cash inflows/({outflows) of 218.81 crore for the half year ended 30 September 2026, as considered in the consolidated unaudited financial results. The Statement also includes the Holding Company's share of net profit after tax of 2193.87 crore and %481.05 crore and total comprehensive income of 2194.11 crore and % 481.37 crore for the quarter and half year ended 30 September 2026, respectively, in respect of three Associates and twenty-four Joint Ventures, based on their interim financial results/ information, which have not been reviewed by their auditors. These interim financial results /information have been certified/provided by the respective management of these Subsidiaries, Associates and Joint Ventures and furnished to us by the Management of the Holding Company, Our conclusion on the Statement, insofar as it relates to the amounts and
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10. disclosures included in respect of these entities, is based solely on such management-certified interim financial results /information. The consolidated unaudited financial results for the quarter and half year ended 30 September 2026 do not include the financial results/information of four Joint Ventures and one Associate, as these entities are either under liquidation/closure or their financial results/information are not available. Based on the information and explanations provided by the Management of the Holding Company, the effect of not including the financial results/information of these entities is not material to the Group. Further, the financial results and other financial information of 7 Subsidiaries located outside India, out of the total 11 Subsidiaries, have been prepared according to the accounting principles generally accepted in their respective countries and provided by their respective managements for consolidation. The Holding company's management has converted these financial results from the local accounting principles to those generally accepted in India. We have reviewed these conversion adjustments made by the Holding company's management. Our conclusion, with respect to the balances and operations of these foreign Subsidiaries, is based on the representations provided by their respective managements and the conversion adjustments prepared by the Holding company’s management and reviewed by us. The Statement includes Group’s proportionate share, in the 22 Joint Operations where Group is not an operator {out of which 6 blocks are relinquished), whose results reflect total revenues of 793.64 crore 166.1 crore, and total net profit before tax of 87.94 crore and %132,36 crore for the quarter and half year ended 30 September 2026, respectively and total assets of 913.02 crore as at 30 September 2026 which have not been reviewed by their auditors. These interim financial results/ information are considered based on the statement from the Holding Company's management and procedures performed by us as stated in paragraph 3 above. According to the information and explanations given to us by the Management of the Holding Company, these interim financial results/ information are not material to the Group. The Company did not have the minimum number of Independent Directors (including one Woman Independent Director) and Non-Executive Director required in terms of the provisions contained in the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, throughout the reporting period in respect of the composition of its Board of Directors. Further, due to non-availability of any Independent Director w.e.f. 28 March 2026, the Audit Committee, the Nomination & Remuneration Committee & the CSR Committee and other mandatory relevant committees were discontinued and have not been reconstituted till the date of reporting. The financial results for the year ended March 31, 2026 were audited, and those for the quarter ended June 30, 2026 and the quarter and half year ended September 30, 2025 were reviewed by the then four Joint Auditors.of the Company, one of whom continues as a Joint Auditor. They expressed an unmodified opinion and unmodified conclusions in their respective reports dated May 18, 2026, July 31, 2026 and October 27, 2025. Our conclusion is unchanged in this matter.
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Our conclusion on the Statement is not modified in respect of the above matters. For MK PS & ASSOCIATES LLP Chartered Accountants Firm Regn. No. 302014E/ W101061 ae wf Mahen! Kumar Agrawala Partner 2 M. No. - 051764 UDIN:26051764KLHYR[5833 Place: New Dethi Date: October 30, 2026 FOR BORKAR & MUZUMDAR Chartered Accountants For RAMA K GUPTA & CQ. oaltered Accountants (Firm Regn. No. 005005( Firm Regn. No. 101569W Brijmohan Agarwal Partner M. No. - 033254 UDIN: 26033254JWCIVT1546 Partner M. No. - 087679 UDIN: 2608767 9HEHUKQ9610 For 5 GUHA & ASSOCIATES Chartered Accountants Firm Regn. No. 322493E Seem ebh, Hing Sourabh Mitra Partner M. No.- 308743 UDIN:26308743ZGPLQV3808
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Annexure-I to the Independent Auditors’ Limited Review Report on the Unaudited Consolidated Financial Results Of Indian Oil Corporation Limited For The Quarter And Half Year Ended 30 September 2026 The list of entities included in the Consolidated Financial Results Subsidiaries Joint Ventures Chennai Petroleum Corporation 1 oe 1 | IndianOil Adani Ventures Limited Limited 2 | IndianOil (Mauritius) Limited 2. | Lubrizol India Private Limited 3 | Lanka IOC PLC 3 | Indian Oi! Petronas Private Limited 4 | IOC Middle East FZE 4 | Green Gas Limited 5 | IOC Sweden AB 5 | IndianOil Skytanking Private Limited 6 | IOCL (USA) Inc, 6 | Delhi Aviation Fuel Facility Private Limited 7 | IndOil Global 8.५. 7 | Indian Synthetic Rubber Private Limited a | 1OCL Singapore Pte Limited 8 NPCIL IndianOil Nuclear Energy Corporation Limited | 9 | Wie il Capital Management IFSC 9 | GSPL India Transco Limited Limited Indianoil Upstream Ventures Limited 10 | (formerly known as Mercator 10 | GSPL India Gasnet Limited | Petroleum Limited 11 | Terra Clean Limited 11 | IndianOil Adani Gas Private Limited 12 Mumbai Aviation Fuel Farm Facility Private — Limited Associates 13 | Kochi Salem Pipelines Private Limited Petronet LNG Limited 14 | IndianOil LNG Private Limited 2 | AVI-OIL India Private Limited _ 15 | Hindustan Urvarak and Rasayan Limited Petronet VK Limited 16 | Ratnagiri Refinery & Petrochemicals Limited 17 | Indradhanush Gas Grid Limited 18 | IHB Limited 19 | IndianQil Total Private Limited 20 | 100 Phinergy Private Limited Cauvery Basin Refinery and Petrochemicals ZA ives Limited 22 | IndianOil NTPC Green Energy Private Limited 23 | GH4India Private Limited 24 | 1OC GPS Renewables Private Limited 25 | Indofast Swap Energy Private Limited
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INDIAN OIL CORPORATION LIMITED [GN - L19201MH1959G01011388] Regd. Office : IndianOil Bhavan, 5-9, All Yavar Jung Marg, Bandra (East), Mumbai - 400 051 Website: www.iocl.com Email ID: investors@indianoil.in IndianOil STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER 2026 <n Crore) FOR QUARTER ENDED FOR SIXMONTHS ENDED | FOR THE YEAR ENDED PARTICULARS 30.09.2026 | 30.06.2026 | 30.09.2025 | 30.09.2026 | 30.09.2025 31.03.2026 uNAUorTeD | AUDITED | UNAUDTED | UNAUDITED | # ०६४० S| 1. Revenue from Operations (Refer Nate 4) 2,68,039.38 2,81,993.07 206,447.11 5,49,972.45 4,28,296.18 9,01,452.70 2. Other Income 673.56 445.95 644.33 1,119.51 1,227.58 4,162.99 3. Total Income (142) 368,712.94 282,379.02 2,07,091.44 5,51,091.96 4,29,523.71 9,05,615.69 4. Expenses (a) Cost of Materials Consumed 135,245.58 195,317.95 1,03,246.05 330,563.53 2,12,696.85 4,33,584.37 {b) Excise Duty 14,072.49 «15,525.79 27,818.96 29,598.28 57,327.33 1,17,087.27 {c) Purchases of Stack-in-Trade 65,366.17 71,833.62 «46,519.65 1,37,199.79 94,424.47 1,93,977.16 {d} Changes in Inventoties of Finished Goods, Stock-in-trade and Work-In-Progress 1,229.82 (22,590.18) (4,893.14) (20,360.36) 724.18 5,562.28 [e} Employee Benefits Expense 2,927.94 2,592.11 2,902.71. 5,520.05 5,970.82 11,434.58 {f} Finance Costs 2,499.31 1,729.53 2,269.69 4,228.84 4,339.74 8,307.88 (g) Depreciation, Amortization and impairment Expense 4,429.72 4,408.15 4,227.22 2,837.87 8405.85 18,420.24 th) Impairment Loss (inclucling reversal of Impairment Inss} an Financial Assets 346.81 67,83 8.24 414.64 8.16 1,129.99 6) Net Lass cn de-recagnition of Financlal Assets at Amortised! Cast 1.09 O71 0.29 1.80 0.85 5.69 i) Other Expenses __ 15,05799 14,123.23 1 59934 29,175.22 27,631.01 G1 659,71 Total Expenses 2,41,170.92 284,008.74 1,96,699.02 5,25,179.66 4,21,529.26 851,219.17 5. Profit/(Loss} before Share of Profit/{Loss) of Associates and Joint Ventures (3-4) 27,542.02 (4,629.72) 10,392.42 25,912.30 17,994.45 54,496.52 6. Share of Profit/(Loss) of Associates and Joint Ventures 648.51 697.13 711.29 1,345.64 1,859.74 2,975.56 7. Profit/(Loss) befare Tax (S+6) 28,190.53 {932.59} 12,103.71 27,257.94 19,854.19 ST A72.08 8 Tax Expense ~ Current Tax 3,988.97 510.58 2,435.95 4,499.55 4,049.11 13,409.25 - Deferred Tax 1698.94 (802.08) 47690 1,998.86 80.1885. 5,687.91 208.50 2,912.85 5,896.42 4,855.21 13,794.76 9. Net Profit/{Loss} for the perlod (7-8) 22,502.62 (1,241.09) 8,190.86 21,361.53 14,998.98 43,677.32 10. Net Profit/(Loss) attributable to Non-contralling Interest 1,094.75 489,65 373,81 1,584.40 367.72 1,581.06 11, Net Profit/{Loss) attributable to Equity holders of the Parent (9-10) 21,407.87 (1,630.74) 7,817.55 19,777.13 14,631.26 42,096.26 12. Other Comprehensive incame A{i) Items that will not be reclassified to profit or loss (623.84) (4,810.97) (836.76) (5,434.81) (844.22) 3,894.76 A ही) Income Tax relating to Items that will not be reclassified to profit or loss 90.88 709.62 112.78 800.50 72.46 (971,71) 8B (I tems that will be reclassified to profit or loss 58.64 350.39 208.28 409,03 589.75 1,289.93 8 (li! Incame Tax relating to iterns that will be reclassified to profit or loss _ [22211 (7732 3009 (५559) 5S 218.50 7496.53) {3,822.28} (485.61) 14,318.82} 123.14 4,731.48 13. Total Comprehensive Income for the period (9+12} 22,006.09 (4,963.37) 7,705.25 17,042.72 15,122.12 48,408.20 14, Total Comprehensive income attributable ta Nan-contralling Interest 4,113.18 460.61 386.88 1573.79 382.13 1,604.35 15. Total Comprehensive Income attributable to Equity holders of the Parent (13-14) 20,892.91 (5,423.98) 7,818.37 15,468.93 14,739.99 46,804.45 16. Paid-up Equity Share Capital (Face value - 20 each} 3442124 14,121.24 14,121.24 14,121.24 0 14,121.24 14,122.24 17. Other Equity exctuding revaluation reserves 205,745.99 18. Earnings per Share (न (Refer Note 3) - Basic 15.54 17.38) 5.68 14.36 10.62 30.57 - Diluted 15.54 1.18) 5.68 14.36 10.62 30.57 (Face value - % 10 each] Also Refer accompanying notes to the Financial Results
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STATEMENT OF ASSETS AND LIABILITIES - CONSOLIDATED (% in Crore) AS AT AS AT PARTICULARS 30.09.2026 | 31.03.2026 | UNAUDITED AUDITED A, ASSETS 1. Nen-Current Assets {a} Property, plant and equipment 2,07,578.05 2,04,472.87 (b) Capital work-in-progress 83,436.36 82,896.79 (०) Goodwill - On Consolidation 1.04 1.04 (d) Intangible assets 4,117.52 4,095.37 (e) Intangible assets under development 3,189.50 3,152.66 {fy Investments accounted for using the equity method 25,537.39 25,009.08 (है Financial Assets (i) Investments 36,057.26 41,151.91 (ii) Loans 4,704.17 3,357.31 (iii) Other financial assets 2,201.26 2,572.06 (h) Income tax assets (Net) 846.56 1,364.02 (i} Other non-current assets 3,993.92 4,071.08 Sub Total - Non-Current Assets 3,71,663.03 3,72,144,19 2. Current Assets (a} Inventories 1,54,778.82 1,17,132.72 (b) Financial Assets 1 Investments 7,134.09 7,136.54 (1) Trade receivables 24,969.56 14,634.83 (iii) Cash and cash equivalents 619.16 1,833.08 {iv} Bank Balances other than above 3,057.79 2,581.58 (५) Loans 877.24 698.58 (vi) Other financial assets. 6,641.66 4,658.46 {c) Current tax assets (Net) 6.53 4.69 {d) Other current assets 5,768.50 6,494.76 Sub Total - Current Assets - 2,03,853.35 1,55,175.24 Assets Held for Sale 1,644.45 1,635.53 2,05,497.80 1,56,810.77 TOTAL - ASSETS __5,77,160.83 5,28,954.96_ B. EQUITY AND LIABILITIES 4. Equity (a) Equity Share Capital (Refer Note 3) 13,771.56 13,771.56 (b) Other Equity 2,19,485.84 2,05,745.99 (c) Non-controlling Interest 7,197.61 6,029.56 Sub Total - Equity 2,40,455.01 2,25,547.11 Liabilities 2. Non-Current Liabilities (a) Financial Liabilities {i) Borrowings 58,074.80 55,308.99 (ii) Lease Liabilities 8,327.91 8,343.11 {iii} Other Financial Liabilities 422.50 239.01 (b) Provisions 1,466.39 1,441.64 {c} Deferred tax liabilities (Net) 22,314.65 21,615.85 {d) Other non-current liabilities 5,344.14 5,253.45 Sub Total - Non-Current Liabilities 95,950.39 92,202.05 3. Current Liabilities {a) Financial Liabilities (i) Borrowings 69,983.22 64,780.14 (ii) Lease Liabilities 3,574.21 3,390.15 (iii) Trade payables Total outstanding dues of Micro and Smail Enterprises 1,297.31 1,523.96 Total outstanding dues of creditors other than Micro and Smail Enterprises 71,953.59 55,844.73 (iv) Other financial liabilities 51,126.52 54,063.31 {b} Other current Liabilities 28,754.53 20,083.72 {c} Provisions 10,914.62 10,506.11 [9] Current Tax Liabilities (Net) 3,114.30 978.25 Sub Tota - Current Liabilities 2,40,718,30 2,170,270.37 Liabilities directly associated with the Assets Held for Sale 37.13 35.43 2,40,755.43 2,11,205.80 TOTAL - EQUITY AND LIABILITIES __5,77,160.83 _5,28,954.96_ : A ७००. / 719, शक 3 29 eee ater *, SZ oN “as ‘ ered Accont?
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(®in Crore} STATEMENT OF CASH FLOWS - CONSOLIDATED FOR SIX MONTHS ENDED FOR THE YEAR ENDED PARTICULARS 30.05.2026 30.09.2025 | 31032026 | | UNAUDITED | UNAUDITED mr 3 A. CASH FLOWS FROM OPERATING ACTIVITIES 1 Profit / (Loss) Before Tax 27,257.94 19,854.19 57,472.08 2 Adjustments for : Share of Profit of Joint Ventures and Associates (1,345.64) (1,859.74) (2,975.56) Depreciation, Amortisation and Impalyment on Property, Plant & Equipment and intangible Assets 8,837.87 8,405.85. 18,420.24 Lass/ (Profit} on Assets sold or written off (Net) (40.00) 32.36 (432.31) Amartisation of Capital Grants (57.34) (38.37) {53.16) Provision for Probable Contingencies (net) ‘ 1.79 (42.69) {96.80} Fair Value loss/{gain) on financial instruments classified as fair value through profit and loss (30.21) (11.24) (136.27) Unclaimed / Unspent liabilities written back (220.41) (194.07) (484.61) Derecognition of Financial Assets and Advances & Claims written off 5.56 2.78 48.43 Provision for Doubtful Advances, Claims and Stores {net} 302.49 218.44 1,453.38 Impairment Loss on Financial Assets (Net) 414.64 8.16 1,129.99 Loss/(gain) on Derivatives 133.73 188.58 650.92 Exchange Loss/ (Gain} on Barrowings and Lease Liabilities 101.25 (530.92} 4,826.47 Interest Income (896.05) {1,025.33} (1,983.89) Dividend Income (117.94) (153.73) (1,528.62) Finance costs 4,228.84 4,339.74 8,307.88 Amortisation and Remeasurement (Net) of PMUY Assets 24.86 {6.32} 13.55 ३ Operating Profit before Working Capital Changes {1+2) 38,601.38 29,187.72 84,631.58 4 Change In Working Capital (excluding Cash & Cash Equivalents}: Trade & Other Receivables (11,979.07) (994.64) 193.37 Inventories {37,650.85} 2,103.55 (3,296.85) Trade and Other Payables 23,081.87 5,515.95 6,026.43 Change in Working Capital (26,548.05) 6,624.86 2,922,95 5 Cash Generated From Operations (3+4) 12,053.33 35,812.58 87,554.53 6 Less : Taxes paid 1,833.66 3,244.86 11,412.45, 7. Net Cash Flow generated from/ (used in} Operating Activities (5-6) 10,214.67 32,567.72 76,142.08 B. CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from Sale of Property, Plant & Equipment 141.68 (279.50) 1,101.86 Purchase of Property, Plant & Equipment and Intangible Assets (2,207.78) (1,667.23} (4,002.38) Expenditure on Construction Wark-in-Progress (9,456.49) {14,015.73} {24,360.35} Proceeds from Sale of tnvestments - - 3,516.13 Investment in Joint Ventures & Associates (368.57) (522.01) (2,367.70) Purchase of Other Investments (512.21) (2,566.84) (622.05) Loans & Advances to Joint Ventures & Associates (1,755.39) zs (81.03) Repayment towards Loans & Advances taken by Joint Ventures & Associates 28155 99,40 112.12 Receipt of government grants (Capital Grant) 7 0,07 135.20 Interest Income recelved 831.11 1,006.48 1,924.88 Dividend Income on Investments 1,339.22 35.98 2,318.94 Net Cash Flow generated from/ (used in) Investing Activities {11,706.88} {17,105.28} (22,273.78) C. CASH FLOWS FROM FINANCING ACTIVITIES Proceeds fram Long-Term Borrowings 8,628.78 7,679.89 15,494.33 Repayments of Long-Term Borrowings (2,265.88) {7,609.62} (16,440.97) Payments of Lease Liabilities (1,499.15} (1,775.87} {3,183.13} Proceeds fram/(Repayments of} Short-Term Borrowings 1,017.45 (5,382.20) (26,304.62) Interest paid (3,936.24) (4,328.09} (8,534.74) Dividend paid 4666.67) (4,118.73) 13,702.44) (4,118.73) 13,702.44) Net Cash Flow generated from/ (used in) Financing Activities 278.29 (15,534.62) (52,671.57) D. NET CHANGE IN CASH & CASH EQUIVALENTS (A+B+C} — (4,213.92) __(76.18) __i 296.73 213.92) 76.18) 1,196.73 E1 Cash & Cash Equivalents as at end of the period/year 619.16 560.17 1,833.08 E2 Cash & Cash Equivalents as at the beginning of period/year 4,833.08 636.35 636.35 NET CHANGE IN CASH & CASH EQUIVALENTS (६1 - £2) 4,213.92) 76.18) 4196.73 76.138, 1,196.73 Motes: 4... Significant non-cash movements in investing and financing activities during the periad/year include: (a) acquisition of assets by way of lease (net of upfront premium) 1,890.92 1,809.80 5,230.92 663.68 2,081.16 4,341.89 EY @eS @- (b) unrealised exchange lass/ (gain) on borrowings and lease liabilities Statement tows is prepared using Indirect Method as per Indian Accounting Standard-7: Statement of Cash Flows.
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Notes to Unaudited Consolidated Financial Results: 1. Due to non-availability of Independent Directors on the Board of the Parent Company, the Audit Committee of the Parent Company has been discontinued with effect fram 28% March 2026. In view thereof, the Financial Results have been reviewed and approved by the Beard of Directors in its meeting held on 307 October 2026. The Financial Results have been reviewed by the Statutory Auditors as required under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Equity Share Capital in the Statement of Assets and Liabilities excludes shares held under “IOC Shares Trust” of face value 3349.68 crore and the same is not considered as part of Paid-Up Equity Shares for computing Earning Per Share. The Ministry of Petroleum ‘and Natural Gas (MoPNG)}, vide letter dated 30.04.2020 had conveyed to Oil Marketing Companies (OMCs) that where Market Determined Price (MDP) of LPG cylinders is less than its Effective Cost to Customer (ECC), the OMCs will retain the difference in a separate buffer account for future adjustment. However, as on 30° September 2026, the Parent Company had a cumulative net negative buffer of $32,505.69 crores. MoPNG, vide letters dated 3१ and 24% October 2025, has conveyed Government's approval for compensation of %14,486 crores to the Parent Company, towards under-recoveries incurred on sale of domestic LPG up to 31.03.2025 and likely to be incurred up to 31.03.2026 and it will be disbursed in 12 equal monthly instalments, the accrual of which shall only be on monthly basis starting from November 2025 and thereafter will be disbursed accordingly. In accordance with the letters, instalment for the period from April 2026 to September 2026 aggregating to 87,243.02 crores have been recognized as Revenue from Operations in the books of account of Parent Company and the cumulative net negative buffer has been reduced to that extent. Figures relating to the previous periods have been regrouped wherever necessary ta conform to the figures of the current period.
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ADDITIONAL DISCLOSURES AS PER SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 - CONSOLIDATED FOR QUARTER ENDED FOR SIX MONTHS ENDED FOR THE YEAR ENDED PARTICULARS 30.09.2026 | 30.06.2026 | 30.09.2025 30.09.2026 T 30.09.2025 31.03.2026 UNAUDITED AUDITED UNAUDITED UNAUDITED aa {a} Debt Equity Ratio (Times) 0.53 0.69 0.68 0.53 0.68 0.53 {{Non-Current Borrowings + Current Borrowings)/(Equity Share Capital + Other Equity {including 02] + Non- Controlling Interest}} {b} Debt Service Coverage Ratio (Times) 7.86 1.02 1L70 3.99 1.93 2.41 [Profit after Tax + Finance Cost in P&L + Depreciation]/ [Finance Costs (P&L + Capitalised) + Lease & Principal Repayment (Long Term)] (९) Interest Service Coverage Ratio {Times) 12.33 2.59 6.94 8.30 6.56 8.81 {Profit before Tax + Finance Cost in P&L + Depreciation}/ {Finance Costs (P&L + Capitallsed)] (d) Capital Redemption Reserva (% in Crore) 0.42 0.42 0.42 0.42 0.42 0.42 (e) Bond Redemption Reserve (% in Crore} - - 18.75 - 18.75 18.75 (f) Net Worth (in Crore} 2,33,257.40 © 2,14,093.42 —1,97,088.99 2,33,257.40 1,97,088.99 2,19,517.55 [Equity Share Canitat + Other Equity {including OCI}} (g) Current Ratio (Times} 09.85 09.76 9.69 0.85 0.69 9,73 {Current Assets]/ [Current Liabilities] (h} Long Term Debt to Warking Capital (Times) (1,58) (9.94) (0.78} (1.58) 10.78) (0.99) [Non-Current Borrowings]/ {Current Assets - Current Liabilities)] (i) Bad Debts to Account Receivable Ratio (Times} 0.00 0.00 9.00 0.00 0.00 0.00 [Bad Debts/ Average Trade Receivable] {j) Current Liability Ratio (Times) 0.72 0.73 0.72 0.72 0.72 0,70 {Current Liabilityf (Non- Current Llabitity + Current Liability)] - {k) Total Debts to Total Assets (Times} 0.22 0.27 0.27 0.22 0.27 0.23 {(Non-Current Borrowings + Current Borrowings}/ Total Assets] (I) Trade Receivables Turnover (Times) 12.42* 17.32* 31.30* 27.27* 22.65* 53.83 [Sales {Net of Discounts) / Average Trade Receivable] (m) inventory Turnover {Times} 1.75* riot 1.85* 3.977 3.77* TIL {Sales (Net of Discounts} / Average Inventory} (n) Operating Margin (36) 11.20% 0.12% 6.17% 5.52% 5.36% 6.84% {(Profit before Tax + Finance Costs - Other income)/ Revenue from Operations} {o) Net Profit Margin (%) 8.40% (0.40%) 3.97% 3.88% 3.50% 435% [Profit after Tax/ Revenue from Operations] * Not Annualised Note: All figures are rounded up to two decima se
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{in Crore) SEGMENT WISE INFORMATION - CONSOLIDATED FOR QUARTER ENDED FOR SIX MONTHS ENDED FOR THE YEAR ENDED PARTICULARS 30.09.2026 30.06.2026 30.09.2025 30.09.2026 | 30.09.2025 | _—s 31.03.2026 UNAUDITED |__AUDITED _ | | UNAUDITED | UNAUDITED AUDITED 1 SEGMENT REVENUE {a) Petroleum Products 2,45,995.64 264,200.61 1,92,282.61 5,10,196.25 4,00,618.01 8,42,195.30 (9) Petrochemicals 10,041.34 9,516.94 6,391.35 19,558.28 13,155.45 28,102.02 {c) Gas 16,755.33 14,481.49 11,134.78 31,236.82 21,444.06 44,512.15 {d) Other Business Activities 1,432.31 2,047.88 952.75 3,480.19 2,168.03 35,287.80 . Sub-total 2,74,224.62 2,90,246.92 2,10,761.49 = 5,64,471.54 4,37,385.55 9,20,097.27 Less: Inter-segment Revenue 6,185.24 8,313.85 4,314.38 14,499.09 9,089.42, 18,544.57 REVENUE FROM OPERATIONS __ 2,68,039.38 2,81,933.07 2,06.447.11 5,49,972.45 4,28,296.13 9,02,452.70_ 2 SEGMENT RESULTS: {a} Profit Sefore Tax, Interest income, Finance Costs, and Dividend from each segment (i) Petroleum Products 27,626.82 (1,705.02) 12,308.02 25,921.80 21,378.31 61,227.03 [1] Petrochemicals 528.40 216.85 168.42 745.25 167.40 1,015.02 {iif} Gas 1,237.67 $26.05 243,49 1,763.72 293.90 (254.91) {iv} Other Business Activities _ 37572 52457 26760 1,000.29 27536 4A Sub-total (a} 29,768.61 (337.55) 12,987.53 29,431.06 22,114.97 62,442.88 (6) Finance Costs 2,499.31 1,725.53 2,269.69 4,228.84 4,339.74 8,307.88 (c) Other un-allocable expenditure (Net of un-allacable income} __ (92123) (1,134.49) (385.87) {2,055.72} (2,078.96) (3,337.08) TOTAL PROFIT/{LOSS} BEFORE TAX (a-b-c) 28,190.53 (932.59) 11,103.71 27,257.94 19,854.19 57,472.08 3. SEGMENT ASSETS: {a} Petroleum Products 4,18,999.42 3,99,973.56 3,64,984.28 4,18,999.42 3,64,984.28 3,72,118.96 (b} Petrochemicals 47,493.04 49,886.41 42,335.40 47,493.04 42,335.40 45,224.57 {c} Gas 16,290.96 14,868.26 14,877.14 16,230.96 14,877.14 14,125.75 {d) Other Business Activities 16,733.42 17,432.73 16,217.52 16,733.42 16,217.52 16,707.31 {e] Unallocated —_ 77,643.99 76,145.65 78,058.06 77,643.99 78,058.06 80,778.37 TOTAL __5,77,160.83 _§,58,306.61 5016,47240 5,77,160.83 5,16,472.40 5,28, 954.56 _ 4 SEGMENT LIABILITIES: (न) Petroleum Products 159,447.09 1,37,774.88 137,720.31 159,447.09 1,37,720.31 137,200.53 (a) Petrochemicals 3,618.32 3,478.94 2,446.92 3,618.32 2,446.92 2,888.34 (c} Gas 5,391.76 8,159.41 3,984.90 5,391.76 3,984.90 5,809.38 (9) Other Business Activities 1,847.37 1,991.71 1,800.52 1,847.37 4,800.52 1,861.32 (९) Unallocated —1,56,401,28 186,319.08 468,566.08 166,401.28 9 1,68,566.08 155,648.28 TOTAL __3,36,705.82 3,37.723,.00 314,518.72 3,36,705.82_ 314,528.72 (3,003,407.85_ Notes: A. Segment Revenue comprises Revenue from Operations {Inclusive of excise duty) and Other Operating Revenues, B. Other Business Activities segment of the Group comprises; Oil & Gas Exploration Activities, Explosives & Cryogenic Business and Wind Mill & Solar Power Generation. Cc. Figures relating to the previous periods have been regrouped wherever necessary to conform to the figures of the current period. BY Ch OF THE BOARD f) 8 जाट {ANU JAIN) Place: New Delhi DIRECTOR (FINANCE) Dated: 30 October 2026 DIN: 10310088
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Indian Oil Corporation Limited CIN-L19201MH1959GOI011388 Regd. Office: Indian Oil Bhavan, G-9, Ali Yavar Jung Marg, Bandra East, Mumbai - 400 051 E-mail id: investors@indianoil.in Website: www.iocl.com Tel: 022-26447327 Annexure-II Statement of Deviation / Variation in utilization of funds raised A. Statement of utilization of issue proceeds: Name of the Issuer ISIN Mode of Fund Raising (Public issues/ Private placement) Type of instrument Date of raising funds Amount Raised (Rs/Crores) Funds utilized (Rs/Crores) Any deviation (Yes/ No) If 7 is Yes, then specify the purpose of for which the funds were utilized Remarks, if any 1 2 3 4 5 6 7 8 9 10 Indian Oil Corporation Limited INE242A08437 Private placement Non-Convertible Debentures 22.10.2019 3000.00 3000.00 No Not Applicable Not Applicable INE242A08502 18.02.2022 1500.00 1500.00 INE242A08528 17.06.2022 2500.00 2500.00 INE242A08536 06.09.2022 2500.00 2500.00 INE242A08544 25.11.2022 2500.00 2500.00 INE242A08551 16.07.2024 2500.00 2500.00 INE242A08569 06.01.2025 2500.00 2500.00 B. Statement of deviation/ variation in use of Issue proceeds: Particulars Remarks Name of Listed Entity Indian Oil Corporation limited Mode of Fund Raising Private Placement Type of Instrument Non-Convertible Unsecured Debentures Date of Raising Funds Refer 'Statement of utilization of issue proceeds' "A" above Amount Raised (Rs. in crore) Rs. 17,000 crore (outstanding as on September 30, 2026) Report filed for quarter ended September 30, 2026 Is there a deviation / variation in use of funds raised? No Whether any approval is required to vary the objects of the issue stated in the prospectus / offer document? Not Applicable If yes, details of approval so required? Not Applicable Date of approval Not Applicable Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after review Not Applicable Comments of the auditors, if any Not Applicable Objects for which funds have been raised and where there has been a deviation/ variation, in the following table:
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Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilized Amount of Deviation / Variation for the quarter according to applicable object Remarks, if any Refinancing of existing borrowings and/or funding of Capital Expenditure of the Company, including recoupment of expenditure already incurred and/ or for any other purpose in the ordinary course of business of the Issuer. NA Rs. 17,000 crore NA Rs. 17,000 crore NA Funds have been utilized for the purpose for which it was raised and therefore there is no deviation or variation in the use of funds. Deviation or variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or (b) Deviation in the amount of funds actually utilized as agains t what was originally disclosed. Sd/- Kamal Kumar Gwalani (Company Secretary)
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Annexure-III Security cover certificate as per SEBI Circular no. SEBI/HO/MIRSD/ MIRSD_CRADT /CIR/P/2022/67, dated 19th May 2022; pursuant to the Regulation 54(2) & 54(3) of the SEBI (LODR) for the quarter ended 30thSeptember 2026 Column A Column B Colum n C i Colum n Dii Colum n Eiii Column Fiv Column Gv Colum n Hvi Column Ivii Colu m n J Column K Column L Column M Column N Column O Particular s Exclusi ve Charge Exclus ive Charg e Pari- Passu Charge Pari- Passu Charge Pari- Passu Charge Assets not offered as Securit y Eliminati on (amount in negative ) (Total C to H) Related to only those items covered by this certificate Descript ion of asset for which this certificat e relate Debt for which this certifica te being issued Other Secure d Debt Debt for which this certifica te being issued Assets shared by pari passu debt holder (includes debt for which this certificate is issued & other debt Other assets on which there is pari- Passu charge (excludin g items covered debt amount considere d more than once (due to exclusive plus pari passu charge) Market Value for Assets charged on Exclusive basis Carrying /book value for exclusive charge assets where market value is not ascertainable or applicable (For Eg. Bank Balance, DSRA market value is not applicable) Market Value for Pari passu charge Assetsviii Carrying value/book value for pari passu charge assets where market value is not ascertainable or applicable (For Eg. Bank Balance, DSRA market value is not applicable) Total Value(=K+L+M+ N) with pari- in column passu F) Relating to Column F charge) Book Value Book Value Yes/ No Book Value Book Value ASSETS Property, Plant and Equipment Capital Work-in- Progress Right of Use Assets Goodwill NIL Report** Intangible Assets Intangible Assets under Developme nt Investment s
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Loans Inventories Trade Receivables Cash and Cash Equivalents Bank Balances other than Cash and Cash Equivalents Others Total LIABILITIE S NIL Report** Debt securities to which this certificate pertains Other debt sharing pari- passu charge with above debt not to be filled Other Debt Subordinat ed debt Borrowings Bank Debt Securities Others Trade payables
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Lease Liabilities Provisions Others Total NIL Report** Cover on Book Value Cover on Market Valueix Exclusiv e Security Cover Ratio Pari-Passu Security Cover Ratio i This column shall include book value of assets having exclusive charge and outstanding book value of debt for which this certificate is issued. ii This column shall include book value of assets having exclusive charge and outstanding book value of all corresponding debt other than column C. iii This column shall include debt for which this certificate is issued having any pari passu charge - Mention Yes, else No. iv This column shall include a) book value of assets having pari-passu charge b) outstanding book value of debt for which this certificate is issued and c). other debt sharing pari- passu charge along with debt for which certificate is issued. v This column shall include book value of all other assets having pari passu charge and outstanding book value of corresponding debt. vi This column shall include all those assets which are not charged and shall include all unsecured borrowings including subordinated debt and shall include only those assets which are paid-for. vii In order to match the liability amount with financials, it is necessary to eliminate the debt which has been counted more than once (included under exclusive charge column as also under pari passu). On the assets side, there shall not be elimination as there is no overlap. viii Assets which are considered at Market Value like Land, Building, Residential/ Commercial Real Estate to be stated at Market Value. Other assets having charge to be stated at book value/Carrying Value. ix The market value shall be calculated as per the total value of assets mentioned in Column O ** As advised by NSE vide its communication dated 14.11.2022 ( Non-Convertible Debentures issued by Indian Oil Corporation Limited and outstanding as on 30.09.2026 are Un-secured.)