Indian Oil Corporation Limited (IOCL) is a cornerstone of India’s energy sector, leading the way in refining, marketing, and distributing petroleum products. Founded in 1959 and headquartered in New Delhi, it became a public company listed on the BSE and NSE in 1993. With a massive network of over 33,000 fuel stations and four refineries boasting a capacity of 80.7 MMTPA, IOCL fuels nearly half of India’s energy needs, from petrol to aviation fuel. Under the leadership of Chairman Shrikant Madhav Vaidya, the company is pushing towards a greener future with a target of 1 GW renewable energy capacity by 2025-26 and net-zero emissions by 2046, blending tradition with innovation.
In this Article, we’ll explore IOC share price targets from 2025 to 2035. These projections are drawn from the company’s strong financial base, oil market trends, and expert insights—some analysts peg 2025 targets around ₹160-₹180. As of on October 27, 2025, the stock stands at ₹155.20 on the NSE.
IOCL has shown steady strength. Over the past year, it rose from a 52-week low of ₹110.72 to a high of ₹157.20, reflecting resilience amid global oil volatility. With consistent dividends and government support, it’s a reliable pick for those eyeing energy stocks.
IOCL Overview
Listed on NSE and BSE, IOCL dominates refining and marketing, supplying fuels and petrochemicals across India. It’s investing ₹1.8 lakh crore in projects like the Paradip refinery upgrade. Under Shrikant Madhav Vaidya, the focus is on green fuels like biofuels and expanding EV charging infrastructure.
IOC Share Price Target 2025
| Month | IOCL Target Price (₹) |
|---|---|
| October 2025 | 157.00 |
| November 2025 | 161.00 |
| December 2025 | 165.00 |
End of 2025 could hit ₹165, offering a 6% return as refining margins hold steady. This modest rise aligns with seasonal fuel demand and analyst optimism.
Also Read: BPCL Share Price Target 2025 to 2035
IOCL Share Price Target 2026
| Month | IOCL Target Price (₹) |
|---|---|
| January 2026 | 169.00 |
| February 2026 | 173.00 |
| March 2026 | 177.00 |
| April 2026 | 181.00 |
| May 2026 | 185.00 |
| June 2026 | 189.00 |
| July 2026 | 193.00 |
| August 2026 | 197.00 |
| September 2026 | 201.00 |
| October 2026 | 205.00 |
| November 2026 | 209.00 |
| December 2026 | 214.00 |
2026 might close at ₹214, delivering a 30% return with refinery expansions. This growth reflects higher crude throughput and export gains, boosting confidence.
IOC Share Price Target 2027
| Month | IOCL Target Price (₹) |
|---|---|
| January 2027 | 218.00 |
| February 2027 | 222.00 |
| March 2027 | 226.00 |
| April 2027 | 230.00 |
| May 2027 | 234.00 |
| June 2027 | 238.00 |
| July 2027 | 242.00 |
| August 2027 | 246.00 |
| September 2027 | 250.00 |
| October 2027 | 254.00 |
| November 2027 | 258.00 |
| December 2027 | 263.00 |
By 2027, ₹263 is possible, offering a 23% return with green energy strides. Biofuel blending targets boost non-fuel income, adding to the upside.
Also Read: Triveni Turbine Share Price Target
IOC Share Price Target 2028
| Month | IOCL Target Price (₹) |
|---|---|
| January 2028 | 267.00 |
| February 2028 | 271.00 |
| March 2028 | 275.00 |
| April 2028 | 279.00 |
| May 2028 | 283.00 |
| June 2028 | 287.00 |
| July 2028 | 291.00 |
| August 2028 | 295.00 |
| September 2028 | 299.00 |
| October 2028 | 303.00 |
| November 2028 | 307.00 |
| December 2028 | 312.00 |
2028 could peak at ₹312, providing a 19% return with stable oil prices. EV charging network expansion adds long-term value and investor interest.
IOC Share Price Target 2029
| Month | IOCL Target Price (₹) |
|---|---|
| January 2029 | 316.00 |
| February 2029 | 320.00 |
| March 2029 | 324.00 |
| April 2029 | 328.00 |
| May 2029 | 332.00 |
| June 2029 | 336.00 |
| July 2029 | 340.00 |
| August 2029 | 344.00 |
| September 2029 | 348.00 |
| October 2029 | 352.00 |
| November 2029 | 356.00 |
| December 2029 | 361.00 |
2029 might hit ₹361, yielding a 16% return with renewable energy gains. Consistent dividends support investor confidence amid market shifts.
Also Read: Tata Power Share Price Target 2025 to 2030
IOC Share Price Target 2030
| Month | IOCL Target Price (₹) |
|---|---|
| January 2030 | 365.00 |
| February 2030 | 369.00 |
| March 2030 | 373.00 |
| April 2030 | 377.00 |
| May 2030 | 381.00 |
| June 2030 | 385.00 |
| July 2030 | 389.00 |
| August 2030 | 393.00 |
| September 2030 | 397.00 |
| October 2030 | 401.00 |
| November 2030 | 405.00 |
| December 2030 | 410.00 |
2030 could end at ₹410, offering a 14% return with net-zero progress. Focus on green hydrogen strengthens its outlook for the decade.
IOC Share Price Target 2031
| Month | IOCL Target Price (₹) |
|---|---|
| January 2031 | 414.00 |
| February 2031 | 418.00 |
| March 2031 | 422.00 |
| April 2031 | 426.00 |
| May 2031 | 430.00 |
| June 2031 | 434.00 |
| July 2031 | 438.00 |
| August 2031 | 442.00 |
| September 2031 | 446.00 |
| October 2031 | 450.00 |
| November 2031 | 454.00 |
| December 2031 | 459.00 |
2031 targets ₹459, a 12% return with sustained energy demand. Upstream investments add resilience to its portfolio.
Also Read: Ola Electric Share Price Target 2025, 2026 to 2030
IOC Share Price Target 2032
| Month | IOCL Target Price (₹) |
|---|---|
| January 2032 | 463.00 |
| February 2032 | 467.00 |
| March 2032 | 471.00 |
| April 2032 | 475.00 |
| May 2032 | 479.00 |
| June 2032 | 483.00 |
| July 2032 | 487.00 |
| August 2032 | 491.00 |
| September 2032 | 495.00 |
| October 2032 | 499.00 |
| November 2032 | 503.00 |
| December 2032 | 508.00 |
2032 might see ₹508, yielding a 10% return with green fuel adoption. Stable government backing ensures steady growth momentum.
IOC Share Price Target 2033
| Month | IOCL Target Price (₹) |
|---|---|
| January 2033 | 512.00 |
| February 2033 | 516.00 |
| March 2033 | 520.00 |
| April 2033 | 524.00 |
| May 2033 | 528.00 |
| June 2033 | 532.00 |
| July 2033 | 536.00 |
| August 2033 | 540.00 |
| September 2033 | 544.00 |
| October 2033 | 548.00 |
| November 2033 | 552.00 |
| December 2033 | 557.00 |
2033 could reach ₹557, providing a 10% return with EV infrastructure growth. Renewable energy targets keep it competitive in the market.
IOC Share Price Target 2034
| Month | IOCL Target Price (₹) |
|---|---|
| January 2034 | 561.00 |
| February 2034 | 565.00 |
| March 2034 | 569.00 |
| April 2034 | 573.00 |
| May 2034 | 577.00 |
| June 2034 | 581.00 |
| July 2034 | 585.00 |
| August 2034 | 589.00 |
| September 2034 | 593.00 |
| October 2034 | 597.00 |
| November 2034 | 601.00 |
| December 2034 | 606.00 |
2034 targets ₹606, a 9% return with net-zero milestones nearing. Focus on hydrogen hubs supports this upward trend.
IOC Share Price Target 2035
| Month | IOCL Target Price (₹) |
|---|---|
| January 2035 | 610.00 |
| February 2035 | 614.00 |
| March 2035 | 618.00 |
| April 2035 | 622.00 |
| May 2035 | 626.00 |
| June 2035 | 630.00 |
| July 2035 | 634.00 |
| August 2035 | 638.00 |
| September 2035 | 642.00 |
| October 2035 | 646.00 |
| November 2035 | 650.00 |
| December 2035 | 655.00 |
2035 might end at ₹655, offering a 8% return as a mature energy leader. Long-term stability comes from a diversified energy portfolio.
IOCL Financials 2025
| Particulars | Year (2025) |
|---|---|
| Revenue | ₹761,619 Cr |
| Expenses | ₹748,154 Cr |
| EBITDA | ₹43,102 Cr |
| EBIT | ₹26,325 Cr |
| Profit Before Tax | ₹17,063 Cr |
| Net Profit | ₹13,788 Cr |
FY2025 as of March 2025, with 2% revenue growth and solid margins.
IOCL Fundamentals
| Particulars | Figures |
|---|---|
| Market Cap | ₹2,12,313 Cr |
| P/E Ratio | 12.58 |
| Debt to Equity | 0.82 |
| ROE | 6.50% |
| Book Value | ₹132.31 |
| Face Value | ₹10 |
IOCL Shareholding Pattern
| Particulars | Shareholding (%) |
|---|---|
| Promoters | 51.50 |
| Retail | 30.28 |
| FIIs | 7.70 |
| DIIs | 7.12 |
| Mutual Funds | 3.41 |
As of September 2025.
Factors Shaping IOCL Share Price Targets
- Oil Market Trends: Global crude prices and refining margins drive profitability.
- Green Energy Push: Investments in biofuels and EVs position it for future growth.
- Government Role: PSU status offers stability, though privatization rumors linger.
- Domestic Demand: Rising fuel needs in India support long-term revenue.
Smart Investment Approaches for IOCL Shares
- Take It Slow with SIPs: Spread purchases to handle oil price fluctuations—perfect for energy plays.
- Keep an Eye on Key Numbers: Watch quarterly refining margins and green project updates for cues.
- Look for Policy Boosts: Government support or subsidies can lift the stock—stay informed.
- Diversify Wisely: Cap at 5-10% of your portfolio; mix with non-oil stocks for balance.
- Match Your Risk Level: Ideal for dividend lovers who can ride sector cycles—consult an advisor.
Conclusion
IOCL stands tall with strong profits and a green vision, despite oil market ups and downs. It’s a solid long-term choice for investors, but keep an eye on global trends and policy shifts.
The target prices for IOCL provided here serve as guidance only. We offer no buy or sell recommendations. These estimates may fluctuate with market conditions. Tradeforge suggests consulting financial experts prior to any investment in IOCL.
FAQ’s
What is the promoters’ holding in IOCL?
Promoters’ holding in IOCL is 51.50% as of September 2025.
Who is the Chairman of IOCL?
Shrikant Madhav Vaidya is the Chairman of IOCL.
What is the target price of IOCL in 2026?
IOCL share price target ranges from ₹169.00 to ₹214.00 in 2026.
What is the target price of IOCL in 2035?
IOCL share price target ranges from ₹610.00 to ₹655.00 in 2035.
How is IOCL advancing its renewable energy goals?
IOCL is targeting 1 GW renewable capacity by 2025-26 and net-zero by 2046 with biofuels and green hydrogen.