Indian Oil Dividend 2026: IOC Q4 profit jumps 81% YoY

What IOC announced with its Q4 FY26 results

Indian Oil Corporation (IOC) reported its audited financial results for the quarter and year ended March 31, 2026, and paired the update with a dividend recommendation for shareholders. The company said the Board meeting to consider and approve the results was scheduled for May 18, 2026. Alongside the results, the Board recommended a final dividend for FY26, subject to shareholder approval. IOC also outlined the timeline for payment, stating it would be made within 30 days of declaration at the Annual General Meeting (AGM). For investors, the announcement mattered on two fronts: the size of profit growth in the March quarter and the confirmation of cash returns through dividends.

Final dividend recommendation: ₹1.25 per share

IOC recommended a final dividend of ₹1.25 per equity share for the financial year 2025-26. The company said this represents 12.5% on the face value of ₹10 per share. The payment is contingent on shareholder approval at the upcoming AGM. IOC told exchanges that the record date for the final dividend would be fixed and intimated later. The company also said the final dividend, if approved, would be paid within 30 days from the date of declaration at the AGM.

Q4 FY26 performance: consolidated profit rises 81% YoY

For the fourth quarter ended March 2026, IOC reported an 81% year-on-year rise in consolidated net profit to ₹15,176 crore. The company attributed the improvement to better refining margins and strong operational performance. Separately, a PTI report cited IOC’s March-quarter performance as being supported by healthy marketing and refining margins, noting that earnings came before the full impact of war-driven disruptions in global energy markets.

Standalone Q4 net profit and the FY26 record profit

On a standalone basis, IOC reported net profit of ₹11,377.51 crore for January to March (Q4 FY26), up from ₹7,264.85 crore a year earlier. The company also reported a record annual net profit on a standalone basis of ₹36,802.42 crore for FY26, compared with ₹12,961.57 crore in the previous year. In the audited results update, IOC also reported consolidated net profit attributable to equity holders of ₹42,096.26 crore for the full year.

Interim dividend already paid in FY26: ₹2 per share

Separately from the final dividend recommendation, IOC had declared a second interim dividend during FY26. The Board approved a 20% interim dividend, translating to ₹2 per equity share (face value ₹10), at its meeting held on March 6, 2026. The record date for this interim dividend was fixed as March 12, 2026, and the company said the dividend would be paid on or before April 5, 2026. The ex-dividend date was also reported as March 12, 2026.

Dividend history: payouts in 2025 and earlier years

IOC’s dividend history, as referenced via BSE information in the provided text, indicates recurring payouts across multiple years. In 2025, the company paid dividends twice: ₹5 in December and ₹3 in August. In 2024, IOC paid ₹7 in July. In 2023, it paid dividends twice, ₹5 in November and ₹3 in July. The history in the provided table also lists record and ex-dividend dates for select payouts, including ₹5 with a record date of December 18, 2025, and ₹3 with a record date of August 8, 2025.

Key dates and investor events IOC highlighted

Ahead of the May 18, 2026 Board meeting, IOC informed exchanges on May 4 that the Board would consider audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and may also consider a final dividend for FY26. The company also disclosed that it would participate in a group conference call on May 19, 2026 at 3:00 pm IST to discuss Q4 FY26 financial performance. For dividend investors, two separate timelines matter: the interim dividend record date of March 12, 2026, and the final dividend record date, which IOC said would be communicated later.

Market and stock-price references mentioned in the reports

The provided text includes multiple price references across different dates. It noted that IOC shares closed at ₹134.55 on a Friday session, down ₹5.70 or 4.06% from the previous close of ₹140.25 on the BSE. In another instance tied to the March 6, 2026 interim dividend announcement, IOC shares were reported to have slipped 1.9% to close at ₹168.25 on BSE. The text also cited a latest trading price of ₹131.85 as of May 18 (15:30) and a separate reference to ₹135.8 as of May 19, 2026.

Snapshot table: profits and dividend details

Context from Q3 FY26: profit surge and revenue growth

IOC’s earnings momentum was also evident in the December quarter, based on figures cited in the provided text. Profit after tax was reported at ₹12,126 crore in Q3 FY26 versus ₹2,874 crore in the same quarter last year, a rise of around 322% year-on-year. Profit before tax was reported at ₹15,992 crore in Q3 FY26 compared with ₹3,470 crore in the year-ago quarter. Revenue from operations in Q3 FY26 was reported at ₹231,000 crore, up 7% from ₹216,000 crore in Q3 FY25.

Why the dividend and earnings update matters

For shareholders, IOC’s FY26 announcements combine two separate actions: an interim cash payout already scheduled and a final dividend recommendation awaiting AGM approval. For the market, the profit numbers provide a read-through on refining and marketing margins and how operating performance translated into earnings in the March quarter. The company has also signalled ongoing disclosure through its scheduled May 19 conference call, which typically provides more colour on performance drivers and segmental trends.

Conclusion

IOC’s Q4 FY26 results showed a sharp year-on-year rise in profitability, alongside a recommended final dividend of ₹1.25 per share for FY26 subject to shareholder approval. Investors will track the AGM timeline for the final dividend declaration and watch for IOC’s announcement of the record date in due course. The company’s May 19, 2026 conference call is the next scheduled event flagged in its exchange filings for discussing Q4 FY26 performance.