Oil Country Tubular Limited (OILCOUNTUB) AI Stock Analysis

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Oil Country Tubular Limited

(NSE:OILCOUNTUB)

Select Model

Rating:48Neutral

Price Target:INR 67.00▼(-0.74% Downside)

Action:reiterated

Date:10/02/26

The score is held down primarily by weak and volatile financial performance—large recent losses and negative free cash flow despite balance-sheet repair. Technicals are supportive due to a strong uptrend, but overbought readings add near-term risk. Valuation remains a concern because losses drive a negative P/E and there is no dividend yield support.

Positive Factors

Balance-sheet repairPositive equity and comparatively modest debt provide a stronger capital base than the company had in 2021–2022, when equity was negative and debt was much higher. This repair improves financial resilience and gives the business more capacity to withstand volatility while performance recovers.

Negative Factors

Sharp revenue contractionA 36.4% revenue decline indicates a substantial deterioration in demand, activity, or realized economics and reduces operating leverage across the business. Unless growth stabilizes, the smaller revenue base can make fixed costs harder to absorb and delay a return to sustainable profitability.

Oil Country Tubular Limited (OILCOUNTUB) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 3.52B
Dividend Yield: ―
Average Volume (3M): 4,517
Price to Earnings (P/E): -6.0
Beta (1Y): 0.93
Revenue Growth: -29.12%
EPS Growth: -41.78%
Country: India
Employees: 187
Sector: General
Sector Strength: 55
Industry: Oil & Gas Equipment & Services

Oil Country Tubular Limited Business Overview & Revenue Model

Company Description

Oil Country Tubular Limited manufactures and sells casing, tubing, and drill pipes used in the oil and gas drilling and exploration sector in India and internationally. It offers API connections, and double shoulder and high torque connections; heavy...

How the Company Makes Money

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Oil Country Tubular Limited Financial Statement Overview

Summary

Financials are mixed but skew weak: the income statement and cash flow show major deterioration and volatility (2026 revenue down 36.4% YoY, large net loss, negative operating and free cash flow), while the balance sheet is comparatively stronger with positive equity and modest debt after prior deleveraging. The sharp 2026 loss and equity decline raise risk that balance-sheet progress could reverse if performance doesn’t stabilize.

Income Statement

26Negative

Balance Sheet

57Neutral

Cash Flow

29Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	629.62M	700.94M	1.23B	182.39M	2.75M	0
Gross Profit	-469.24M	-407.44M	882.90M	-710.29M	-313.69M	-193.83M
EBITDA	-26.23M	63.03M	431.50M	10.77M	1.28B	-45.56M
Net Income	-677.83M	-614.82M	-318.61M	-704.48M	1.05B	-513.23M
Balance Sheet
Total Assets	0	3.14B	3.82B	4.27B	4.97B	2.45B
Cash, Cash Equivalents and Short-Term Investments	80.89M	147.88M	192.47M	17.33M	2.75M	1.40M
Total Debt	0	248.77M	447.86M	902.39M	658.86M	2.23B
Total Liabilities	-1.97B	1.16B	1.51B	2.32B	2.47B	3.71B
Stockholders Equity	1.97B	1.97B	2.31B	1.95B	2.50B	-1.26B
Cash Flow
Free Cash Flow	96.39M	-101.99M	299.58M	-189.97M	1.69B	-267.08M
Operating Cash Flow	137.03M	-43.12M	304.94M	-189.87M	1.69B	-267.08M
Investing Cash Flow	-33.52M	-58.85M	-357.00K	20.89M	14.00K	322.00K
Financing Cash Flow	40.69M	48.24M	-187.28M	183.67M	-1.69B	267.89M

Oil Country Tubular Limited Technical Analysis

Technical Analysis SentimentNeutral

Last Price67.50

Price Trends

50DMA71.49Negative

100DMA64.56Positive

200DMA57.72Positive

Market Momentum

MACD-1.39Positive

RSI36.05Neutral

STOCH11.08Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:OILCOUNTUB, the sentiment is Neutral. The current price of 67.50 is below the 20-day moving average (MA) of 73.38, below the 50-day MA of 71.49, and above the 200-day MA of 57.72, indicating a neutral trend. The MACD of -1.39 indicates Positive momentum. The RSI at 36.05 is Neutral, neither overbought nor oversold. The STOCH value of 11.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:OILCOUNTUB.

Oil Country Tubular Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:OILCOUNTUB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:JINDRILL	81Outperform	INR 14.77B	7.73	―	0.19%	11.72%	-19.52%
IN:SEAMECLTD	73Outperform	INR 38.85B	15.35	―	0.13%	60.32%	122.30%
IN:UNIDT	69Neutral	INR 3.83B	18.78	―	0.95%	26.40%	48.98%
IN:DEEPINDS	64Neutral	INR 41.49B	19.21	―	0.39%	40.67%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:ABAN	49Neutral	INR 861.47M	-0.44	―	―	-0.26%	78.73%
IN:OILCOUNTUB	48Neutral	INR 3.52B	-6.02	―	―	-29.12%	-41.78%

* General Sector Average

Performance Comparison

IN:OILCOUNTUB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:OILCOUNTUB	Oil Country Tubular Limited	67.50	3.91	6.15%
IN:ABAN	Aban Offshore Limited	14.62	-21.45	-59.47%
IN:DEEPINDS	Deep Industries Limited	647.15	170.66	35.82%
IN:JINDRILL	Jindal Drilling & Industries Ltd.	512.70	-55.68	-9.80%
IN:SEAMECLTD	SEAMEC Limited	1548.60	701.95	82.91%
IN:UNIDT	United Drilling Tools Limited	191.00	-13.87	-6.77%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 02, 2026

Oil Country Tubular Limited AI Stock Analysis