Indian Oil Dividend 2025: Final Approval At 66th AGM On This Date

Indian Oil Corporation Ltd (IOCL), the country’s largest state-run fuel retailer, is set to seek shareholder approval for its final dividend for FY 2024-25 at the company’s upcoming annual general meeting (AGM). The 66th AGM has been scheduled for August 30, 2025, where the board’s recommendation on dividend payout will be placed for final nod.

If approved, the final dividend will add to the interim payout, taking the total dividend for FY25 higher than the previous fiscal, reflecting the company’s confidence in its financial position. Indian Oil has consistently maintained a shareholder-friendly dividend policy, with the government, which owns over 51% stake, being the largest beneficiary of these payouts.

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Financial Performance

The dividend proposal comes after IOCL reported steady earnings in the last fiscal, aided by strong refining margins, robust marketing performance, and stable demand recovery across fuel segments. Earlier this year, the company had declared an interim dividend of Rs 5 per equity share, rewarding investors amid fluctuating crude oil prices and global supply concerns.

In its latest quarterly results (Q1 FY26), Indian Oil reported a consolidated net profit of Rs 6,813.7 crore, up 93% year-on-year, though down 16% sequentially. Revenue from operations stood at around Rs 2.21 trillion, a modest 0.9% rise compared to the same period last year.

On a standalone basis, net profit more than doubled to Rs 5,689 crore from Rs 2,643 crore a year earlier, driven largely by strong marketing margins.

However, the company faced an inventory loss of about Rs 6,465 crore in the June quarter, against an inventory gain of over Rs 3,300 crore in the year-ago period, which weighed on refining margins. Its gross refining margin (GRM) slipped to $2.15 per barrel from $6.39 per barrel a year earlier. Despite these headwinds, the strong profitability underlined IOCL’s resilience in a volatile energy market.

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