Indian Oil FY26 update: Record refining, pipeline throughput drive volume growth

Indian Oil Corporation Ltd reported a strong operational performance for FY26, with multiple segments delivering record volumes, led by refining, pipelines and marketing businesses.

The company said its refineries achieved the highest-ever crude throughput of 75.4 million metric tonnes (MMT), supported by an operational reliability of 99.5%. Pipeline throughput also touched a record 105.3 MMT during the year.

Consolidated sales volume of petroleum products rose to an all-time high of 104.4 MMT, up

around 4% from 100.3 MMT in the previous year, reflecting steady demand across key segments.

The company continued to expand its retail footprint, commissioning a record 909 outlets during the year, which helped it gain market share across nine of the top ten national highways.

Among other segments, the lubricants business posted record sales of 855 thousand metric tonnes, growing about 15% against industry growth of roughly 4%. Petrochemicals also delivered their highest-ever performance, with sales at 3.22 MMT and production at 3.4 MMT.

The gas business reported RLNG sales of approximately 5.60 MMT, excluding internal consumption, adding to the overall volume growth.

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The update follows a strong December quarter, where the company’s net profit rose sequentially to ₹12,126 crore, while revenue grew to ₹2.04 lakh crore. Average gross refining margins for the April–December period stood at $8.41 per barrel.

Shares of Indian Oil Corporation closed at ₹135.65 on the NSE, up 0.18% for the day.