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Energy Minerals

Indian Oil Corp. Ltd.

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. It 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 2022 INRUSD
Revenue5,880.90B78,928.12M
Gross Profit606,606.40M8,141.31M
Operating income368,480M4,945.40M
Income before tax330,530.60M4,436.07M
Net income251,022.30M3,368.99M
EBITDA491,955.80M6,602.58M
Diluted EPS18.220.24
Dividends Per Share8.400.11
Total Assets4,149.13B54,756.00M
Total liabilities2,770.46B36,561.75M
Total equity1,335.35B17,622.59M
Operating cash flow228,182.90M3,062.46M
Currency in INRCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 4,177.97B 5,259.36B 4,820.34B 3,630.44B 5,880.90B
Gross Profit 504,655.70M 487,352.90M 323,509.29M 534,822M 606,606.40M
Operating income 310,166.20M 272,260.90M -16,771.20M 314,675M 368,480M
Income before tax 344,502.20M 245,425.20M -85,431M 295,540M 330,530.60M
Net income 221,894.50M 173,767M -8,931.40M 216,382.10M 251,022.30M
EBITDA 386,801.60M 357,325.40M 85,962.70M 424,089.50M 491,955.80M
Diluted EPS 15.60 12.27 -0.64 15.71 18.22
Dividends Per Share 7.66 6.16 2.83 7.99 8.40
Total Assets 3,045.55B 3,419.30B 3,362.66B 3,586.63B 4,149.13B
Total liabilities 1,871.76B 2,260.13B 2,380.60B 2,435.77B 2,770.46B
Total equity 1,138.73B 1,124.69B 953,979.10M 1,118.38B 1,335.35B
Operating cash flow 287,948.80M 109,845.80M 55,883.90M 474,399.50M 228,182.90M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 64,808.88M 75,195.33M 67,982.22M 48,904.79M 78,928.12M
Gross Profit 7,828.23M 6,967.88M 4,562.51M 7,204.44M 8,141.31M
Operating income 4,811.31M 3,892.62M -236.52M 4,238.90M 4,945.40M
Income before tax 5,343.93M 3,508.94M -1,204.84M 3,981.13M 4,436.07M
Net income 3,442.03M 2,484.41M -125.96M 2,914.82M 3,368.99M
EBITDA 6,000.08M 5,108.83M 1,212.34M 5,712.79M 6,602.58M
Diluted EPS 0.24 0.17 -0.00 0.21 0.24
Dividends Per Share 0.11 0.08 0.03 0.10 0.11
Total Assets 46,695.46M 49,358.38M 44,449.56M 49,055.59M 54,756.00M
Total liabilities 28,698.43M 32,625.52M 31,468.18M 33,314.85M 36,561.75M
Total equity 17,459.50M 16,235.18M 12,610.22M 15,296.44M 17,622.59M
Operating cash flow 4,466.67M 1,570.51M 788.14M 6,390.50M 3,062.46M

Valuation Measures

Mar 2022
PER4.35
ROA6.48%
ROE20.46%
Operating margin6.26%
Profit margin4.26%

Key executives

  • Finance Director & Director: Sandeep Kumar Gupta
  • Director & Director-Research & Development: S. S. V. Ramakumar
  • Executive Director-Operations, Refineries: Manoj Sharma
  • Director & Director-Human Resources: Ranjan Kumar Mohapatra
  • General Manager: H. Shankar

Shareholders

  • Government of India (51.4%)
  • Oil & Natural Gas Corp. Ltd. (14.2%)
  • Life Insurance Corporation of India (Investment Portfolio) (7.9%)
  • Oil India Ltd. (5.1%)
  • Indian Oil Corp. Ltd. (2.4%)
  • SBI Funds Management Pvt Ltd. (0.9%)
  • The Vanguard Group, Inc. (0.9%)
  • ICICI Prudential Asset Management Co. Ltd. (0.4%)
  • BlackRock Fund Advisors (0.4%)
  • Eastspring Investments (Singapore) Ltd. (0.2%)

Contact Details

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

Related Companies

  • IOC Sweden AB
  • Indian Oil Corp. Ltd. Employees Superannuation
  • Indian Oil Corp. Ltd. Employees Post-Retirement
  • Provident Fund Trust for the Employees of Indian Oil Corp Ltd
  • Indian Oil Corp. Ltd. Refinery Division Employees Provident Fd
  • IOC Middle East FZE
  • IOCL Singapore Pte Ltd.
  • IOCL (USA), Inc.
  • Guwahati Refinery
  • Indian Oil Corp. Ltd. / Ennore Plant /
  • Ioc Shares Trust
  • IndOil Global BV
  • IndianOil (Mauritius) Ltd.
  • AVI-OIL India Pvt Ltd.
  • Indian Oil Blending Ltd.
  • Indian Catalyst Pvt Ltd.
  • Lanka IOC Plc
  • Ceylon Petroleum Corp. /100 Petrol Stations/
  • IBP Co.
  • Chennai Petroleum Corporation Limited

Competitors

  • Oil & Natural Gas Corp. Ltd.
  • Oil India Limited
  • Bharat Petroleum Corporation Limited
  • Hindustan Petroleum Corporation Limited
  • Reliance Industries Limited
  • Sumitomo Chemical Co., Ltd.
  • Fuchs Petrolub SE Pref
  • Balmer Lawrie & Co. Ltd.
  • Valvoline, Inc.
  • Aemetis, Inc.
Last Updated on 12 Aug, 2022

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