IOC Anchors Hydrogen Ambition as Core Earnings Hold Up
By Newscript News Network
August 22, 2025
IOC is attempting to square the transition circle: build out green molecules while keeping the downstream engine humming. The company has fixed the levelised cost for India’s largest electrolytic hydrogen facility—10,000 tonnes per annum at Panipat—at ₹397/kg, targeting completion by December 2027 with Larsen & Toubro executing EPC. In Q1 FY26, profit nearly doubled to ₹5,689 crore on revenue of ₹2.19 trillion (+1.2%), even as inventory movements created noise. With Russian discounts narrowing, IOC diversified barrels, securing roughly 7 million from the US, Canada and Abu Dhabi, while locking in logistics to sustain utilisation.
Growth capex remains expansive: a ₹21,000 crore programme to expand Barauni from 6 to 9 MMTPA and roll out...