The report states that IOCL's 2QFY27 EBITDA of INR303b and PAT of INR216b beat estimates due to better-than-estimated marketing performance, but cuts FY27 EBITDA estimate to INR412b from INR576b on expected marketing margin pressure ahead of state elections, and reiterates a Neutral rating with a target price of INR135 based on 4.5x Dec'27 EBITDA plus investment value.
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1 note from Motilal Oswal · since 01 Nov 2026, 00:00 IST