Indian Oil Corporation Limited (IOC) — Working Capital to Net Assets Ratio
Indian Oil Corporation Limited (IOC) has a Working Capital to Net Assets ratio of -24.1% as of March 2026. Working capital of Rs-543.95 Billion (current assets of Rs1.57 Trillion minus current liabilities of Rs2.11 Trillion) is measured against net assets of Rs2.26 Trillion. A higher ratio indicates strong short-term liquidity financed by the equity base. See IOC FCF to total liabilities ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Indian Oil Corporation Limited Working Capital to Net Assets (2004–2026)
This chart shows how Indian Oil Corporation Limited's Working Capital to Net Assets ratio has evolved across 23 annual periods from 2004 to 2026. As of March 2026, the ratio stands at -24.1%, reflecting working capital of Rs-543.95 Billion against net assets of Rs2.26 Trillion INR. See IOC days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Indian Oil Corporation Limited (2004–2026)
The table below presents the year-by-year Working Capital to Net Assets ratio for Indian Oil Corporation Limited from 2004 to 2026, covering 23 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see IOC company net worth.
| Year | WC/NA Ratio | Working Capital (INR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2026 | -24.1% | Rs-543.95 Billion | Rs2.26 Trillion | Rs1.57 Trillion | Rs2.11 Trillion | ▲ +14.1 pp |
| 2025 | -38.2% | Rs-729.71 Billion | Rs1.91 Trillion | Rs1.58 Trillion | Rs2.31 Trillion | ▼ -7.4 pp |
| 2024 | -30.8% | Rs-579.56 Billion | Rs1.88 Trillion | Rs1.58 Trillion | Rs2.16 Trillion | ▲ +2.6 pp |
| 2023 | -33.4% | Rs-477.93 Billion | Rs1.43 Trillion | Rs1.59 Trillion | Rs2.07 Trillion | ▲ +0.1 pp |
| 2022 | -33.5% | Rs-452.94 Billion | Rs1.35 Trillion | Rs1.47 Trillion | Rs1.92 Trillion | ▲ +7.2 pp |
| 2021 | -40.7% | Rs-459.66 Billion | Rs1.13 Trillion | Rs1.16 Trillion | Rs1.62 Trillion | ▲ +12.1 pp |
| 2020 | -52.9% | Rs-508.93 Billion | Rs962.74 Billion | Rs1.11 Trillion | Rs1.62 Trillion | ▼ -25.8 pp |
| 2019 | -27.1% | Rs-309.43 Billion | Rs1.14 Trillion | Rs1.30 Trillion | Rs1.61 Trillion | ▲ +2.4 pp |
| 2018 | -29.5% | Rs-341.90 Billion | Rs1.16 Trillion | Rs1.06 Trillion | Rs1.40 Trillion | ▼ -13.8 pp |
| 2017 | -15.7% | Rs-162.85 Billion | Rs1.04 Trillion | Rs966.11 Billion | Rs1.13 Trillion | ▼ -3.2 pp |
| 2016 | -12.4% | Rs-96.22 Billion | Rs774.08 Billion | Rs944.74 Billion | Rs1.04 Trillion | ▼ -7.9 pp |
| 2015 | -4.5% | Rs-31.42 Billion | Rs699.06 Billion | Rs1.01 Trillion | Rs1.04 Trillion | ▼ -4.5 pp |
| 2014 | 0.0% | Rs277.10 Million | Rs690.84 Billion | Rs1.41 Trillion | Rs1.41 Trillion | ▼ -6.2 pp |
| 2013 | 6.3% | Rs40.29 Billion | Rs642.98 Billion | Rs1.34 Trillion | Rs1.30 Trillion | ▲ +16.8 pp |
| 2012 | -10.5% | Rs-65.42 Billion | Rs623.17 Billion | Rs1.26 Trillion | Rs1.33 Trillion | ▼ -58.9 pp |
| 2011 | 48.4% | Rs288.18 Billion | Rs595.68 Billion | Rs889.57 Billion | Rs601.39 Billion | ▲ +12.5 pp |
| 2010 | 35.9% | Rs194.69 Billion | Rs542.95 Billion | Rs649.96 Billion | Rs455.27 Billion | ▲ +11.7 pp |
| 2009 | 24.2% | Rs113.76 Billion | Rs470.77 Billion | Rs472.41 Billion | Rs358.65 Billion | ▼ -26.0 pp |
| 2008 | 50.2% | Rs229.79 Billion | Rs458.20 Billion | Rs583.93 Billion | Rs354.14 Billion | ▲ +18.5 pp |
| 2007 | 31.6% | Rs120.88 Billion | Rs382.42 Billion | Rs424.57 Billion | Rs303.69 Billion | ▼ -9.6 pp |
| 2006 | 41.2% | Rs133.48 Billion | Rs323.84 Billion | Rs399.46 Billion | Rs265.98 Billion | ▼ -0.1 pp |
| 2005 | 41.3% | Rs120.38 Billion | Rs291.57 Billion | Rs356.74 Billion | Rs236.36 Billion | ▲ +11.1 pp |
| 2004 | 30.1% | Rs76.08 Billion | Rs252.46 Billion | Rs279.46 Billion | Rs203.37 Billion | — |