Oil India: Motilal Oswal Maintains Neutral Stance, Cuts FY26-28 PAT Estimates Amid Exploration Costs

Overview

Motilal Oswal's research report indicates Oil India's 2QFY26 revenue met expectations, but oil/gas sales and adjusted EBITDA fell short. The brokerage has cut PAT estimates for FY26-28 by up to 10% due to increased exploration cost write-offs. A Neutral rating is maintained with a target price of INR 400.