INDIAN OIL CORPORATION LTD

INDIAN OIL CORPORATION LTD Overview

Company Headquarters: New Delhi, India

Founded: 1959

Workforce: ~33,498

Company Working: Indian Oil Corporation Ltd (IOCL) carries out oil & gas exploration, production, refining, pipeline transportation, and sale of natural gas & petroleum products. Additionally, it produces and sells petrochemicals and engages in a sizable amount of alternative energy business. High-speed diesel, jet fuel, light petroleum gas, gasoline, bitumen, heavy fuel oil, naphtha, lubricants, and greases are some of the refined petroleum products offered by IOCL. The business established subsidiaries in the US, the Netherlands, Sweden, Mauritius, the UAE, and Sri Lanka. More than 35 countries, including Sri Lanka, Mauritius, Bangladesh, Nepal, several Middle Eastern nations, Indonesia, Thailand, Vietnam, and African nations, import SERVO lubricants. In each of the three key product categories—automotive oils, industrial oils, and greases—SERVO holds the largest market share. The first oil brand from the Asia-Pacific region to receive approval from marine engine builders like MAN B&W and Wartsila Sulzer is SERVO, which is the sixth oil brand overall. It is a Maharatna business owned by the Indian government.

Strategy

IOCL strives to achieve long-term and sustainable returns on investments, constant growth in revenue and profitability, the ideal debt-to-equity ratio, effective disclosure of strategy, value creation philosophy, and resource management. The foundation of the company's strategy and potential for future expansion is its R&D center. With a petrochemical capacity of over 3200 KTA, the company has an approximate 5% Petrochemical Intensity Index. The company is aiming for a 15% Petrochemicals Intensity Index as part of its long-term strategy.

Company Snapshot

$80,082.46M

Revenue

33,498

Employees

1959

Founded

New Delhi, India

Headquarters

SWOT Analysis

Strengths

Diverse product portfolio
Robust R&D, as of 31 March 2019, company holds 790 patents
Strong brand image
Strong focus on R&D. The company invested USD 857.7 million in R&D in 2017
Strong presence in Indian aviation market
Wide variety of products
Vast distribution network
Strong branding and marketing exercises

Weaknesses

No Dependent on the Indian market for revenue
High debt of USD12.09 billion as of 31 March 2019
Limited presence in developed economies such as the US
Inability of certain suppliers to fulfill contractual requirements
Bureaucracy affects the operations of IOCL

Opportunities

Targeted expansion, collaborations, and acquisitions
Scope to strengthen its position in the aviation fuel market through collaborations with prominent players
Increasing the natural gas market
Global expansion
Acquisition of smaller companies

Threats

Volatile refinery margins
Intense competition
Technology advancements by competitors
Increasing competition
Supply-related risks

Key Developments

Date	Approach	Development
September 2022	Product Launch	Indian Oil Corporation Ltd launched indigenous production of aviation fuel AVGAS 100 LL, a special aviation fuel meant for piston engine aircraft and unmanned ariel vehicles. The indigenous availability of AV GAS 100 LL will help reduce dependence on imports and address the associated logistical challenges.

Product Offering

INDIAN OIL CORPORATION LTD
- Semi-Synthetic Refrigeration Compressor Oils
- Eco-Friendly Synthetic Refrigeration Oils
- Aviation Fuel
- Aviation Gasoline (Avgas)

Financial Performance

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