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Energy Minerals

Indian Oil Corp. Ltd.

  • 162.30 INR
  • +3.70
  • +2.33%
  • India
    Mar 20, 2019
  • Ticker
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  • Market cap (INR)
  • Market cap (USD)
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Company Background

India's largest commercial enterprise, Indian Oil leads various segments of the country's oil and gas industry. Along with subsidiary Chennai Petroleum, the group controls roughly 50% of the market for petroleum products and 30% of national refining capacity.

The Indian government owns nearly 70% of the Fortune 500 company; indirectly, the government holds another 19% stake through state energy companies Oil and Natural Gas Corp. and Oil India.

Indian Oil was established in 1959 with the aim of making India self-sufficient in oil refining and marketing operations. Originally known as Indian Oil Company, it adopted its present name in 1964 after a merger with Indian Refineries, established in 1958. Under the administrative control of the Ministry of Petroleum & Natural Gas, the company has also made forays into alternative energy, including wind, solar, biofuels and nuclear power. The group has three Indian subsidiaries and six international ones, along with 16 joint ventures.

B. Ashok, who joined the company in 1981, has served as Indian Oil's chairman since July 2014. Long a key figure in guiding the business, he is behind initiatives such as installing pilfer-proof locks on tanker trucks to prevent theft and tampering. Another example is a smartphone app that keeps Indian Oil field officers abreast of business information in real time. The chairman is known to be an avid reader, musician and sports enthusiast.

Business Summary

Indian Oil Corp. Ltd. is a holding company, which engages in refining, pipeline transportation, and marketing of petroleum products. The firm also explores and produces crude oil and gas; and markets natural gas and petrochemicals. It operates through the following business segments: Petroleum Products, Petro-Chemicals, and Other Businesses. The Other Businesses segment covers the sale of gas, explosives, and cryogenics; wins mill and solar power generation; and oil and gas exploration activities. The company was founded on June 30, 1959 and is headquartered in New Delhi, India.

Financial Highlights

Mar 2018 INRUSD
Gross Profit473,933.60M7,351.67M
Operating income309,554.60M4,801.82M
Income before tax344,502.20M5,343.93M
Net income221,894.50M3,442.03M
Diluted EPS23.410.36
Dividends Per Share11.500.17
Total Assets3,252.84B49,873.68M
Total liabilities2,079.04B31,876.65M
Total equity1,138.20B17,451.26M
Operating cash flow287,955.20M4,466.77M
Currency in INRCurrency in USD

Historical Data

 Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Revenue 4,487.49B 4,318.34B 3,459.03B 3,496.66B 4,145.19B
Gross Profit -78,820.19M 61,102.69M 379,450.60M 474,576.70M 473,933.60M
Operating income -244,942.90M -105,785M 200,566.50M 225,736.40M 309,554.60M
Income before tax 99,778.50M 70,120.40M 180,717.60M 279,558M 344,502.20M
Net income 70,855.90M 49,120.20M 120,224.50M 198,494.90M 221,894.50M
EBITDA -181,343M -53,594.90M 257,576.60M 293,834.50M 386,230.80M
Diluted EPS 7.29 5.05 12.38 20.94 23.41
Dividends Per Share 2.17 1.65 3.50 9.50 11.50
Total Assets 2,666.78B 2,384.52B 2,393.69B 3,027.50B 3,252.84B
Total liabilities 1,975.95B 1,685.46B 1,472.97B 1,980.07B 2,079.04B
Total equity 678,896.80M 687,598.80M 899,258.90M 1,020.42B 1,138.20B
Operating cash flow 192,303.30M 425,901.60M 237,515.10M 279,925.40M 287,955.20M
 Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Revenue 74,254.23M 70,626.44M 52,833.15M 52,144.64M 64,300.45M
Gross Profit -1,304.23M 999.33M 5,795.71M 7,077.20M 7,351.67M
Operating income -4,053.04M -1,730.11M 3,063.44M 3,366.33M 4,801.82M
Income before tax 1,651.02M 1,146.81M 2,760.27M 4,168.95M 5,343.93M
Net income 1,172.44M 803.35M 1,836.30M 2,960.08M 3,442.03M
EBITDA -3,000.66M -876.54M 3,934.21M 4,381.85M 5,991.22M
Diluted EPS 0.12 0.08 0.18 0.31 0.36
Dividends Per Share 0.03 0.02 0.05 0.14 0.17
Total Assets 44,652.95M 38,102.86M 36,146.26M 46,623.65M 49,873.68M
Total liabilities 33,085.52M 26,932.48M 22,242.74M 30,493.14M 31,876.65M
Total equity 11,367.52M 10,987.29M 13,579.35M 15,714.54M 17,451.26M
Operating cash flow 3,182.02M 6,965.61M 3,627.80M 4,174.43M 4,466.77M

Valuation Measures

Mar 2018
Operating margin7.46%
Profit margin5.35%

Key executives

  • Director & Finance Director: Arun Kumar Sharma
  • Director & Director-Research & Development: S. S. V. Ramakumar
  • Executive Director-Information Systems: Alok Khanna
  • Director & Director-Human Resources: Ranjan Kumar Mohapatra
  • Executive Director-Operations Refineries: S. M. Vaidya


  • Government of India (52.2%)
  • Oil & Natural Gas Corp. Ltd. (13.7%)
  • Life Insurance Corp. of India (6.3%)
  • Oil India Ltd. (5%)
  • Indian Oil Corp. Ltd. (2.4%)
  • ICICI Prudential Asset Management Co. Ltd. (2.3%)
  • Reliance Nippon Life Asset Management Ltd. (Invt Mgmt) (1.6%)
  • The Vanguard Group, Inc. (0.7%)
  • Franklin Templeton Asset Management (India) Pvt Ltd. (0.6%)
  • SBI Funds Management Pvt Ltd. (0.4%)

Contact Details

  • Website:
  • Address: Plot No. 3079/3, Sadiq Nagar, New Delhi, 110049, India
  • Phone: +91.11.26260000

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Last Updated on 20 Mar, 2019

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