INDIAN OIL CORPORATION

Indian Oil Corporation Limited (IOCL) is an Indian government oil and gas corporation. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India headquartered in New Delhi. It was founded in the year 1959. IOCL’s business interests overlap the entire hydrocarbon value-chain, including refining, pipeline transportation, marketing of petroleum products, exploration and production of crude oil, natural gas, and petrochemicals. It is the largest refiner in the country. Also, the company operates the largest and the widest network of petrol and diesel stations in the country.

The seven major business divisions in the organisation are Refineries Division, Pipelines Division, Marketing Division, R&D Division, Petrochemicals Division, Exploration & Production (E&P) Division, Explosives and Cryogenics Division.

IOCL have two foreign subsidiaries Foreign subsidiaries, IndianOil (Mauritius) Limited and IOC Middle East FZE. The company have 929 active patents as on 1-04-2020.

IndianOil has been actively engaged in a gamut of social welfare/upliftment activities across the nation. It’s Corporate Social Responsibility (CSR) thrust areas include ‘Safe drinking water and protection of water resources’, ‘Healthcare and sanitation’, ‘Education and employment-enhancing vocational skills’, ‘Empowerment of women and socially/economically backward groups’, etc. Apart from this the company focuses on the alternate and renewable energy.

For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 1,66,319.89 Crore, up 11.79% from last quarter Total Income of Rs 1,48,769.23 Crore and up 15.80% from last year same quarter Total Income of Rs 1,43,620.13 Crore. Company has reported net profit after tax of Rs 9,144.90 Crore in latest quarter. The Board of director has recommended a final dividend of Rs 1.50 per share for the FY21.

The results of Q4 were up to the snuff.