Name: Latest research reports of Indian Oil Corporation Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: Indian Oil Corporation Ltd.
Rating: 5
Author: Motilal Oswal

Inventory loss and weak petchem lead to earnings miss

Buy: Indian Oil Corporation Ltd.

Target

Motilal Oswal

IOCL’s 4QFY24 EBITDA of INR104b (down 27% YoY) was 26% below our
estimate of INR141b due to weaker-than-estimated reported GRM (USD8.4/
bbl in 4QFY24 vs. our estimate of USD15.0/bbl)