The research paper aims to study the financial performance of Indian Oil Corporation Limited in terms of financial ratios such as Liquidity, Solvency, Profitability and Efficiency position. The study was carried out for the period of six years (2014 - 2020) to analyse the financial performance of the company. The study was done based on secondary data collected from the published websites of organisation for the research. The tools used for analysis is ratio analysis of the balance sheet. Suitable ratios were framed and calculated to know the financial performance of the company. The findings from the analysis were discussed in detail and suggestions for corrective actions like maintain good solvency in order to meet short term and long term obligations were given wherever applicable.