Oil Country Tubular Limited (OILCOUNTUB)

Loading page…

Oil Country Tubular Limited (OILCOUNTUB) · mywealthgrid

About

Oil Country Tubular Limited manufactures oil equipment and services for India's energy sector. Market cap ₹334.95 Cr with recent quarterly revenues of ₹17–₹30 Cr (standalone). Currently loss-making and trading at 52-week lows, down 32.5% in the past year.

Face value: ₹10

Market cap

₹439 Cr

P/E

—

P/B

2.1×

Dividend yield

ROE

-28.7%

ROCE

-19.7%

Debt / equity

0.13

OPM

6.5%

EPS (TTM)

₹-12.5

Book value

₹38.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Persistent losses: 6 of the last 8 quarters reported negative net profit; December 2024 (₹1.64 Cr) was the sole recent profitable quarter.
Revenue collapse: quarterly sales fell 58% from ₹41.21 Cr (Dec 2024) to ₹17.44 Cr (Jun 2026), indicating demand loss or severe capacity underutilization.
Margin erosion: operating margins compressed from 40.77% (Dec 2024) to 6.36% (Jun 2026) or negative in interim quarters, suggesting cost inflation or volume loss.
Capital inefficiency: negative ROE of −28.67% despite low debt (D/E 0.13) reflects core operational failure—the business is destroying shareholder value.

Generated analysis · source review pending

Growth drivers

Revenue recovery to Dec 2024 levels: company achieved ₹41.21 Cr quarterly revenue and profitability 18 months ago; verify what caused the 58% decline and if it is reversible.
Margin restoration via operational improvements: operating margins fell from 40.77% to 6.36%—verify whether this reflects idle capacity (correctable via volume) or structural cost inflation.
Financial flexibility from low debt: D/E ratio of 0.13 enables restructuring and turnaround investment—verify management's concrete plan to stabilize operations.

Generated analysis · source review pending

2,470 historical price candles were omitted because the exchange source has not been verified.

₹78.1+4%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 99.3% over the last 5 years

Cons

−Low return on equity of -25.1% (3-yr avg)
−Thin operating margin of 6.5%
−Weak interest coverage of -58.6×
−Promoter holding fell 5.8 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

55/100

Business quality: 20
Growth: 50
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	138	—	11	25	11	2	0	0	18	123	70
COGS	-76	—	-8	54	9	2	0	0	0	16	21
Gross profit	—	—	—	-29	2	1	—	0	18	107	49
	237	—	33	22	27	12	7	14	18	64	44
	-23	—	-15	-51	-24	-12	-7	-14	0	43	5
OPM %	-16.8%	—	-130.8%	-199.8%	-220.5%	-517%	—	—	0.6%	35.1%	6.5%
Depreciation	—	—	22	21	21	20	19	30	72	70	70
Interest	17	18	20	15	19	22	25	12	6	6	1
	1	5	1	3	2	3	0	142	1	3	2
Profit before tax	-14	-100	-55	-85	-62	-51	-51	86	-76	-29	-64
Tax	-5	-16	-18	-2	0	0	0	-19	-6	3	-3
Tax %	-36.5%	-15.8%	-33%	-2%	0.4%	0%	0%	-21.8%	-7.9%	9.5%	-4.5%
	-9	-84	-37	-83	-62	-51	-51	105	-70	-32	-61
PAT margin %	-6.6%	—	-330.8%	-326.9%	-562.3%	—	—	—	-386.2%	-25.9%	-87.7%
EPS (₹)	-2	-19	-8.3	-18.7	-14	-11.4	-11.5	23.6	-15.9	-7.1	-12
EPS adjusted (₹)	-2.1	-19	-8.4	—	-14	-11.5	-11.5	23.6	-15.9	-6.7	-11.8
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	44	44	44	44	44	44	44	44	48	52
Reserves	197	201	113	-69	-119	—	206	150	184	145
	131	131	141	124	172	—	66	90	45	25
	65	72	58	122	131	—	181	142	106	91
Total equity & liabilities	437	448	356	222	227	—	497	427	382	314
	—	259	237	174	154	134	452	376	307	242
CWIP	—	—	—	—	—	—	0	0	0	1
Investments	52	52	0	—	—	—	0	0	0	0
	385	136	119	48	74	—	44	51	75	71
Total assets	437	448	356	222	227	—	497	427	382	314

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
DRILL PIPE AND ALLIED PRODCUTS	50.71	-47.02	12.21	1.65	10.56	-445.27
OCTG SERVICES	19.39	-17.98

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	-114.2%	19.5%	26.9%	—	37%	97.6%	86.9%	69.8%
EBITDA margin %	-199.8%	-220.5%	-517%	—	-5,222.2%	0.6%	35.1%	6.5%
EBIT margin %	-284%	-411%	-1,434.5%	—	-16,281.5%	-391.7%	-21.5%	-92.7%
PAT margin %	-326.9%	-562.3%	-2,281.6%	—	38,770.4%	-386.2%	-25.9%	-87.7%
Working capital
Receivable days	—	8	313	—	0	0	57	65
Inventory days	—	1,583	6,583	—	83,564	34,103	695	599
Payable days	—	113	757	—	8,159	2,771	28	29
NWC days	—	1,478	6,139	—	75,405	31,332	725	635
Leverage
Current ratio	—	0.27	0.38	—	1.11	2.15	2.08	3.67
Debt to EBITDA	—	—	—	—	—	820.36	1.04	5.43
Debt to equity	—	-5.09	-2.29	—	0.26	0.46	0.19	0.13
Interest coverage	-4.5	-2.3	-1.3	-1.1	8.2	-11.7	-4.3	-58.6
Asset turnover	—	0.05	0.01	—	0	0.04	0.32	0.22
Return ratios
Return on assets %	—	-28%	-22.4%	—	21.1%	-16.5%	-8.3%	-19.6%
Return on capital employed %	—	-75.6%	-60.9%	—	21.4%	-16.3%	-6.3%	-19.7%
Return on equity %	—	255.6%	68%	—	41.9%	-36.2%	-13.8%	-31.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.22%	49.22%	49.22%	49.22%	49.22%	49.22%	49.22%	52.99%	56.73%	47.23%	47.23%	47.23%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.03%	0.08%	0.17%	0.04%	0.02%	0.01%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.11%	0.1%	0.1%	0.1%	0.1%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	50.65%	50.65%	50.65%	50.65%	50.65%	50.65%	50.63%	46.82%	43%	52.63%	52.65%	52.66%
No. of shareholders	—	—	—	—	—	—	—	—	28,877	28,488	30,020	30,361

Promoter holding down 1.99 percentage points since Sep 2023.

14 deals · 20 Jun 2023 – 1 Dec 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Dec 2025	VIVEK MUNDRA	Block	NSE	Buy	49,40,000	₹65.30	₹32.26 Cr
1 Dec 2025	UNITED STEEL ALLIED INDUSTRIES PVT LIMITED	Block	NSE	Sell	49,40,000	₹65.30	₹32.26 Cr
1 Dec 2025	VIVEK MUNDRA	Bulk	NSE	Buy	49,40,000	₹65.30	₹32.26 Cr
1 Dec 2025	UNITED STEEL ALLIED INDUSTRIES PVT LIMITED	Bulk	NSE	Sell	49,40,000	₹65.30	₹32.26 Cr
30 Dec 2024	GUTTIKONDA VARA LAKSHMI	Bulk	BSE	Buy	2,34,173	₹67.05	₹1.57 Cr
20 Jan 2024	GUTTIKONDA RAJASEKHAR	Bulk	NSE	Buy	3,00,000	₹58.28	₹1.75 Cr
10 Jan 2024	GUTTIKONDA VARA LAKSHMI	Bulk	BSE	Buy	3,59,141	₹44.36	₹1.59 Cr
10 Jan 2024	MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	BSE	Sell	2,78,099	₹44.49	₹1.24 Cr
10 Jan 2024	MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	BSE	Buy	90,032	₹43.67	₹0.39 Cr
7 Dec 2023	GUTTIKONDA VARA LAKSHMI	Bulk	NSE	Buy	2,63,157	₹25.42	₹0.67 Cr

1–10 of 14

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. K.SuryanarayanaExecutive Director-Chairperson-MD
Mr. Sunil TandonNon-Executive - Independent Director
Mrs. Uma Kumari KamalapuriNon-Executive - Independent Director
Mr. Siva Ram Prasad MoturuNon-Executive - Independent Director
Mr. Tatineni YoganandNon-Executive - Independent Director
Mr. Venkatesh Vasant Rao ParlikarNon-Executive - Independent Director
Mrs. Shri Puja KamineniNon-Executive - Non Independent Director
Mr. Paruchuri Dheeraj ChowdaryExecutive Director
Mr. Shashidhar KamineniNon-Executive - Non Independent Director
Mr. Ramamuni Reddy JampanapalleChief Fianancial Officer
Mr. G.L.B ShastryChief Financial Officer

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Oil Country Tubular Limited. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

6

Dividend dividend29 May 2014 · ex-date₹2
Dividend dividend23 May 2013 · ex-date₹2
Dividend dividend24 May 2012 · ex-date₹2
Dividend dividend19 May 2011 · ex-date₹2
Dividend dividend20 May 2010 · ex-date₹2
Dividend dividend14 May 2009 · ex-date₹1.5

1

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

14 announcementsExport CSV

30 Sept 2026, 2:52 pmInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	-114.2%	19.5%	26.9%	—	37%	97.6%	86.9%	69.8%
EBITDA margin %	-199.8%	-220.5%	-517%	—	-5,222.2%	0.6%	35.1%	6.5%
EBIT margin %	-284%	-411%	-1,434.5%	—	-16,281.5%	-391.7%	-21.5%	-92.7%
PAT margin %	-326.9%	-562.3%	-2,281.6%	—	38,770.4%	-386.2%	-25.9%	-87.7%
Working capital
Receivable days	—	8	313	—	0	0	57	65
Inventory days	—	1,583	6,583	—	83,564	34,103	695	599
Payable days	—	113	757	—	8,159	2,771	28	29
NWC days	—	1,478	6,139	—	75,405	31,332	725	635
Leverage
Current ratio	—	0.27	0.38	—	1.11	2.15	2.08	3.67
Debt to EBITDA	—	—	—	—	—	820.36	1.04	5.43
Debt to equity	—	-5.09	-2.29	—	0.26	0.46	0.19	0.13
Interest coverage	-4.5	-2.3	-1.3	-1.1	8.2	-11.7	-4.3	-58.6
Asset turnover	—	0.05	0.01	—	0	0.04	0.32	0.22
Return ratios
Return on assets %	—	-28%	-22.4%	—	21.1%	-16.5%	-8.3%	-19.6%
Return on capital employed %	—	-75.6%	-60.9%	—	21.4%	-16.3%	-6.3%	-19.7%
Return on equity %	—	255.6%	68%	—	41.9%	-36.2%	-13.8%	-31.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Deep Industries LimitedDEEPINDSDEEPINDS	₹4,794 Cr	₹4,997 Cr	₹970 Cr	₹382 Cr	39.9%	₹206 Cr	22.1%	16.7%	9.4%	198
Asian Energy Services LimitedASIANENEASIANENE	₹2,268 Cr	₹2,427 Cr	₹947 Cr	₹105 Cr	12.1%	₹58 Cr	6.6%	17.2%	11.5%	40
Oil Country Tubular LimitedOILCOUNTUBOILCOUNTUB	₹439 Cr	₹464 Cr	₹63 Cr	₹-3 Cr	6.5%	₹-65 Cr	-87.7%	-19.7%	-28.7%	635
DHP India LtdDHPINDDHPIND	₹151 Cr	₹158 Cr	₹70 Cr	₹21 Cr	22%	₹23 Cr	15.3%	6.6%	4.7%	275
Duke Offshore LtdDUKEOFSDUKEOFS	₹88 Cr	₹88 Cr	₹1 Cr	₹0 Cr	—	₹-1 Cr	—	-13.2%	-14.4%	—

Date	Category	Subject	Filing
30 Sept 2026, 2:52 pm	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
30 Sept 2026, 2:47 pm	Insider Trading / SAST Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011	PDF
30 Sept 2026, 2:43 pm	Insider Trading / SAST Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011	PDF
21 Sept 2026, 2:20 pm	Insider Trading / SAST Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011	Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011	PDF
31 Jul 2026, 1:55 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
30 Jul 2026, 8:10 pm	Company Update General	Corrigendum To The Financial Results On Unaudited Financial Results For The Quarter Ended June 30, 2026.	PDF
30 Jul 2026, 12:49 pm	Result Financial Results	Outcome Of The Board Meeting Held On 30.07.2026	PDF
30 Jul 2026, 12:44 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of The Board Meeting Held On 30.07.2026	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-26	-27	169	-19	30	-4
	0	0	0	2	-0	-5
	26	27	-169	18	-19	4
Net cash flow	-0	0	0	1	12	-5
Free cash flow	-26	-27	169	-19	30	-10
CFO / Operating profit %	—	—	—	—	70.7%	-92.4%

Oil Country Tubular Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

6

1

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

6

1

Annual reports

Segment results

Compounded sales growth

Return on equity

- DRILL PIPE AND ALLIED PRODUCTS · revenue

Oil Country Tubular Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends6

Board meetings1

Announcements

Not in the F&O segment

Ratio timeline

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Dividends6

Board meetings1

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Return on equity

- DRILL PIPE AND ALLIED PRODUCTS · revenue

6

1

6

1