Mumbai: Today, the Maharatna powerhouse, often overshadowed by its larger peers, has silenced skeptics. While the headline standalone profit numbers for Oil India Limited (OIL) suggest a cooling period, the underlying data reveals a strategic masterclass in diversification and shareholder rewards.
As of February 11, 2026, the board has officially cleared a path that every dividend-seeking investor needs to see.
1. The "Income" Factor: A ₹7 Reward for Shareholders
The standout news from today’s board meeting is the declaration of a second interim dividend of ₹7.00 per share (70%).
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Total Pay-out: Combined with the previous ₹3.50, the total interim dividend for FY26 now stands at ₹10.50 per share.
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The Record Date: Investors must hold the stock before February 18, 2026, to be eligible.
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Payout Timeline: Expect the cash in your account by March 11, 2026.
2. Q3 Financials: Standing Tall on Two Pillars
The market is reacting to a "tale of two cities" within the company's balance sheet.
The Challenge (Standalone)
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Net Profit: Reported at ₹808.31 Crore, down 34% YoY.
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The Cause: Global crude realization dropped to $62.84 per barrel from $73.82 last year.
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Revenue: Dipped 6% to ₹4,916 Crore.
The Savior (Consolidated)
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Consolidated Profit: Remained rock-solid at ₹1,435.89 Crore.
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NRL’s Magic: The subsidiary Numaligarh Refinery (NRL) delivered a stunning 125% jump in PAT (₹867 Crore) with a Gross Refining Margin (GRM) of $16.27/bbl. This proves the company is no longer just an "oil extractor" but a refined energy giant.
3. Technical Pulse: Chasing the 52-Week High
Investors are eyeing the charts as the stock hovers near historical resistance levels.
| Metric | Level (Feb 11, 2026) |
| Current Market Price (CMP) | ₹487.70 |
| 52-Week High | ₹524.15 |
| 52-Week Low | ₹322.15 |
| Yield Potential | High (PSU Leader) |
The "Breakout" Theory: With the stock just 7% away from its 52-week high, the ₹7 dividend announcement is expected to act as the primary catalyst for a breakout above the ₹525 mark by the end of this month.
4. Strategic Clean-up: The Russia Exit
In a bold move to optimize the balance sheet, the board has approved the divestment of its 50% stake in Licence-61, Russia. By exiting this non-performing asset, the company is freeing up capital for its aggressive domestic production targets, which recently hit a 10-year daily high of 9,861 MT.
Investor Verdict: Buy, Hold, or Exit?
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For Income Seekers: This is a "Strong Buy" before the Feb 18 record date.
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For Growth Seekers: The growth in NRL and record domestic production suggests long-term value.
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The Risk: Continued volatility in global crude prices remains the only major headwind.