KLE’s Arts and Commerce Degree

College
Saunshi-581117
Affiliated with
Karnataka University Dharwad
College Code: P09GEK0115

A Project Report On
INDIAN OIL CORPORATION LTD.

Student Name :ChandanaPattar

Class :B.com 6thsem
Register No :U02EK21C0010

Project Guide Submitted To Principal

Smt. R.G.Manakatti Smt. R.G.Manakatti. Shri.R.Y.Attigeri
(Lecturer in Commerce) Co-Ordinator
 DECLARATION

I AM CHANDAN PATTAR, student of B.COM VI

semester, K.L.E’s ARTS AND COMMERCE DEGREE COLLEGE
SAUNSHI, here by declare that the project work entitled, “A
STUDY INDIAN OIL CORPORATION LIMITED” is submitted
to Karnatak University Dharwad, This project is Bonafide work
prepared by me, under the guidance of Mr. AMIT UPPIN, KLE’s
COLLEGE SAUNSHI.

I further declare that this project is the result of my

own Efforts and conclusion drawn are based on the data and
information collected by me has not been submitted earlier to
any other institute of any other university for the award of degree.

DATE : CHANDANA PATTAR

PLACE :
 Humbly Dedication
To Our Beloved
Parents Lecturers & Friends
For Eternal source
Of Love, Affection &
Insiration To
Raise To The Greater
Achievement
INDEX
INDIAN OIL CORPORATION LTD, HEAD OFFICE.
NEW DELHI
 INDIAN OIL CORPORATION LIMITED.

Introduction
Welcome to the heart of IndianOil, where our vision and values converge. Our
vision is to be the 'Energy of India' and to become 'A globally admired company.' As
we step into an era of transformation, we are broadening our horizons, expanding
across new vistas, and infusing new-age dynamism among our employees. Our
journey, which began with the merger of Indian Oil Corporation Ltd. and Indian
Refineries Ltd. in 1964, has been guided by our core values of Care, Innovation,
Passion, and Trust. These values embody the collective conscience of IndianOil and
its people, steering us towards our North Star - being the Energy of India and
Globally Admired.

Indian Oil Corporation Limited (IOCL) is India's largest commercial enterprise,

with a diverse portfolio spanning refining, pipelines, marketing, R&D, and
petrochemicals.

Objectives of Indian Oil

1) solutions.

2) Promote sustainability and innovation in the energy sector. Ensure energy

security for the nation.

3) Maintain a leadership position in refining, marketing, and petrochemicals.

4) Provide reliable and affordable energy

Scope of Indian Oil
1) Refining: Operating the largest and most complex refining infrastructure in
India.
2) Marketing: Extensive network of retail outlets and marketing infrastructure.
3) Pipelines: One of the largest pipeline networks for transportation of crude oil,
petroleum products, and gas.
4) Petrochemicals: Diversified portfolio including polymers, fibers, and synthetic
rubber.

Need for Indian Oil

1. Fulfilling India's growing energy demand.
2. Enhancing energy security through domestic production and distribution.
3. Driving economic growth and development through energy access and
infrastructure.

Research Methodology of Indian Oil

Indian Oil conducts various research activities to innovate and improve its
operations, products, and services. This includes:

1) In-house R&D: Indian Oil has several research centers focusing on

different aspects of the energy sector, including refining, petrochemicals,
and alternative energy sources.
2) Collaborative Research: Partnerships with academic institutions,
government agencies, and industry partners to leverage expertise and
resources.
3) Field Studies :Conducting field trials and experiments to test new
technologies and processes in real-world conditions.
4) Market Research: Gathering data and insights on consumer behavior,
market trends, and competitor analysis to inform strategic decisions.
Limitations of Indian Oil
1) Dependence on Crude Oil
Vulnerability to fluctuations in crude oil prices impacts profitability.
2) Environmental Concerns
Operations contribute to pollution and carbon emissions, leading to
regulatory scrutiny and public backlash.
3) Infrastructure Challenges
Maintaining and expanding pipelines and refineries amidst logistical
and regulatory hurdles.
4) Competition
Facing competition from both domestic and international players in a
rapidly evolving energy market.
5) Technological Disruption
Rapid advancements in renewable energy and electric vehicles pose a
threat to traditional fossil fuel-based businesses.

Literature Review of Indian Oil

The literature on Indian Oil covers various aspects, including

1) Historical Evolution
Documenting the company's journey from its inception to its current
status as a leading energy conglomerate.
2) Financial Performance
Analyzing financial statements, annual reports, and market trends to
assess the company's performance and outlook.
3) Operational Efficiency
Studying production processes, supply chain management, and
distribution strategies to identify areas of improvement.
4) Corporate Social Responsibility
Evaluating Indian Oil's initiatives in areas such as environmental
sustainability, community development, and employee welfare.
5) Strategic Management
Assessing the company's strategic decisions, mergers, acquisitions,
and diversification strategies in response to changing market dynamics.
Genesis of Project Sattva
In our pursuit to shape India's green future, we embarked on Project Sattva.
The name 'Sattva' means 'essence', and this project was all about getting to the
essence of what makes IndianOil unique. It was a journey to revitalize our golden
values of Care, Innovation, Passion, and Trust (CIPT), and identify what is uniquely
IndianOil. This project was a collective effort, with over 20,000 IOCi’ans sharing their
voices, experiences, and future aspirations for our company. The project was a deep
dive into the soul of IndiaOil, a quest to understand our strengths, our aspirations,
and our shared vision for the future.

Indian oil New Values

Project Sattva revealed how deeply ingrained CIPT is for every single IOCian.
As we navigate towards the future, it is imperative that we embrace additional values
to guide our path. We are introducing our fifth core value – Nation-First. This value
embodies our shared sentiment of "Pehle Indian Phir Oil", reflecting our profound
sense of duty to serve the nation and its people. We are always on Duty to Propel
the Nation. Our golden values of Care, Innovation, Passion, and Trust will continue
to be at the core of IndianOil. However, we have augmented their meaning

IndianOil's Rejuvenated Values are

 Nation-First- Always On Duty to Propel the Nation

 Care will now mean – Leading with Empathy and Driving Business Vision.
 Innovation will stand for - Solving for Tomorrow and Responding with Agility.
 Passion will mean going the Xtra Mile and Daring to be Bold.
 Trust will be reflected in how we Commit to Deliver and Grow the Ecosystem.
Forays into Exploration&Production:
IndianOil’s business development initiatives continue to be driven by
emerging opportunities and guided by its corporate vision of becoming “The Energy
of India- a globally admired company”.Our business strategy focuses primarily on
expansion across the hydrocarbon value chain.
To enhance upstream integration, IndianOil has been pursuing exploration &
production activities both, within and outside the country in collaboration with
consortium partners.
IndianOil has built portfolio of oil & gas assets, with participating interest in 9
domestic and 12 overseas assets. These overseas assets are located in USA,
Canada, Libya, Gabon, Nigeria and Russia. In addition, IndianOil has recently
farmed-in in 5 OALP blocks from OIL and won the bid for 2 DSF-III blocks in
consortium with ONGC, which would soon be part of IndianOil’s domestic block tally
as soon as requisite agreements are duly executed .

IndianOil is an Operator in two domestic and one overseas block and is a

non-operating partner in 7 domestic blocks & 10 overseas blocks. The overseas
blocks include one exploratory block each in Libya, Gabon and Abu Dhabi, a
development project in Nigeria, and producing assets in USA, Canada, Venezuela,
Russia, Oman & UAE.
Exploration efforts made in these blocks have led to successes through
hydrocarbon discoveries in Assam-Arakan onshore, and Gujarat-Kutch shallow water
blocks in IndianOil’s domestic portfolio and in onshore Libyan, Nigerian and Gabon
assets in IndianOil’s overseas portfolio.
 In domestic operated assets, preparations are underway for development
drilling in operated asset in Assam while Petroleum Exploration License is awaited
for start of Block activities in the other operated asset in Tamil Nadu.

In IndianOil’s first overseas operated in Abu Dhabi, drilling and testing of two
Appraisal wells have been completed. Development Plan for the appraised area is
under approval. Further, Exploratory campaign to ascertain unconventional
resources in the Block is in progress. In the other blocks, activities are in progress as
per committed work programme.

E&P Department has a state of the art data interpretation centre “ANWESHAN”. It is
being used for in-house data interpretation of operated and non-operated assets of
Indianoil, and also in enhancing capabilities of geoscientists in interpretation. This
centre provides opportunities to geoscientists to have in-hand experience of
petroleum exploration and its allied operations in partnership with the operators of
non-operated onshore & offshore assets in India and overseas.
IndianOil Values Day

As we celebrate our 64-year journey, we are thrilled to announce that

henceforth, the 30th of June will be observed annually as IndianOil Values Day. This
day will serve as a platform for us to reaffirm our commitment to our guiding
principles, both personally and professionally. This inaugural Values Day is
particularly significant as we unveil our new set of core values, developed as part of
Project Sattva.

Embodying Our Values

Every IOCian, present and future, must embody these revitalized values that
will steer us towards greater heights. We encourage each one of you to reflect on
how you bring these values to life every day. This self-reflection and awareness will
ensure that our internal compass is always pointed towards our North Star. These
new values will also be reflected on our company website as a public commitment to
all our stakeholders.
From this day forward, let us recommit ourselves to our values of Care, Innovation,
Passion, Trust, and Nation-first with renewed fervor as we embark on this new era.
Welcome to the future of IndianOil.
IndianOil, is an integrated oil company in India and across the globe has its presence
in almost all the streams of oil, gas, petrochemicals, and alternative energy sources.
Indian Oil is India's #1 oil refiner. Of India's 20 refineries, the company owns 10,
which have a combined capacity of 67.7 million metric tons per year (34% of India's
total refining capacity). The group also owns more than 10,900 kilometers of pipeline
and operates a chain of some 18,640 gas stations across India. India's largest
commercial enterprise, Indian Oil has 71% of India's downstream pipeline throughput
capacity, and its network of 35,600 retail outlets represents 49% of the country's
petroleum products market share. The group also provides cooking gas to more than
50 million households. The company also has a 63% market share of India aviation
fuel sector.

Reviews of company
Vision:
Indian Oil nurtures the core values of Care, Innovation, Passion, Trust across the
organization in order to deliver value to its stakeholders.

Mission:
To serve the national interests in oil and related sectors in accordance and
consistent with Government policies and ensure maintenance of continuous and
smooth supplies of petroleum products by way of crude oil refining, transportation
and marketing activities.

Indian oil corporation limited's portfolio and holdings :

As per corporate shareholdings filed for March 31, 2024, people matching
indian oil corporation limited publicly holds 5 stocks with a net worth of over Rs
48,080.3 Cr.
These are shares held by indian oil corporation limited as per the
shareholding data filed with the exchanges. The latest quarter tends to have missing
data since not all companies may have reported their shareholding data till now.

Company Profile and History

Established in 1959 as Indian Oil Company Ltd., Indian Oil Corporation Ltd
was formed in 1964 with the merger of Indian Refineries Ltd. (Estd. 1958). It was
originally incorporated as IOCL in 1964.Indian Oil Corporation Ltd. (IOCL), India's
largest commercial ISO-9002 certified enterprise, is the highest ranked Indian
company in the prestigious Fortune 'Global 500' listing. IOCL is the 20th largest
petroleum company in the world.
Established in 1959 as Indian Oil Company Ltd., Indian Oil Corporation Ltd
was formed in 1964 with the merger of Indian Refineries Ltd. (Estd. 1958). It was
originally incorporated as IOCL in 1964. IndianOil and its subsidiaries account for
48.84% industry market share, 47% petroleum products market share, 40.4%
refining capacity and 67% downstream sector pipelines capacity in India.The
IndianOil Group of companies owns and operates 10 of India's 20 refineries with a
combined refining capacity of 60.2 million metric tonnes per annum. In 2008-09, the
IndianOil group sold 62.6 million tonnes of petroleum products, including 1.7 million
tonnes of natural gas, and exported 3.64 million tonnes of petroleum products.
IndianOil (Mauritius) Ltd (IOML), a wholly subsidiary company of Indian Oil
Corporation Ltd, was registered in Mauritius in 2001. After creating an infrastructure
and terminal in Port Louis area IOML started its marketing operations in January
2004. IOML has set up a modern State-of-the-Art storage facility of 24,000 Metric
Ton (MT) capacity at Mer Rouge in Port Louis by means of 8 tanks of various
capacities for different products. The terminal has some of the most modern facilities
for handling and delivery of the petroleum products including loading bays and tank
gauging systems, which are all micro-processor controlled. It is also the first of its
kind in Mauritius.
IOML enjoys a retail presence through 25 retail outlets. IOML provides
petroleum products in bulk to various local business sectors such as the transport
industry, building and construction contractors, manufacturing sector (textile, steel,
bakery) & hotels among others. A comprehensive petroleum laboratory for testing all
fuels and lubricants was also set up. The laboratory is the first full-fledge petroleum
products’ testing laboratory in Mauritius and has already gained international
accreditations such as ISO 9001-2000.

1) Services and Products

The petroleum products distributed by IndianOil (Mauritius) Ltd are:
Motor Gasoline; Gas Oil; Dual Product Kerosene (JetA1); Fuel Oil 180 CST
(heavy oil); and Xtra Premium petrol, Xtra Mile diesel, Servo lubricants and
Indane LPG.

2) Market Share
IndianOil (Mauritius) Ltd. has an overall market share of nearly 22
percent and commands a 35 percent market share in the aviation fuelling
business.

3) Business Objective
To emerge as ‘an integrated, diversified, transnational energy major
and aspiring to be a globally admired company”

4) Business Model
In keeping with the dynamic business environment, IndianOil's
business development initiatives continue to be driven by the emerging
 opportunities and guided by its corporate vision of becoming a diversified,
transnational, integrated energy company. Its business strategy focuses
primarily on expansion across the hydrocarbon value chain, both within and
outside the country, while simultaneously revisiting its strategic plans and
undertaking mid-course corrections, wherever necessary.

5) The company’s strategy is based on the following:

To achieve higher growth through mergers, acquisitions, integration

and diversification by harnessing new business opportunities in oil exploration
production, petrochemicals, natural gas and downstream opportunities
overseas; to develop operational synergies with subsidiaries and joint
ventures and continuously engage across the hydrocarbon value chain for the
benefit of society at large; to ensure adequate return on the capital employed
and maintain a reasonable annual dividend on equity capital; to manage and
operate all facilities in an efficient manner so as to generate adequate internal
resources to meet revenue cost and requirements for project investment,
without budgetary support; to develop long-term corporate plans to provide for
adequate growth of the Corporation’s business; and to reduce the cost of
production of petroleum products by means of systematic cost control
measures and thereby sustain market leadership through cost
competitiveness.
The presence in Mauritius is a gateway for IndianOil's strategy to penetrate
and explore the marketing opportunity in the African countries and nearby
islands.”

Benefits Offered and Relations with Government

Mauritius has no oil, natural gas or coal deposits and 82% of primary energy
requirements are imported (petroleum products and coal). The State Trading
Corporation (STC) is the only authorized importer of petroleum products. These
products are sold to and stocked either individually or jointly by the local oil
companies. The products are then being marketed and distributed to the retailers
and end users.
About IndianOil

Welcome to IndiaOil, The Energy of India

 Welcome to the world of IndianOil, a diversified, integrated energy major with
presence in almost all the streams of oil, gas, petrochemicals and alternative energy
sources; a world of high-calibre people, state-of-the-art technologies and cutting-

edge R&D; a world of best practices, quality-consciousness and transparency; and a

world where energy in all its forms is tapped most responsibly and delivered to the
consumers most affordably.

Energising the Nation’s Ascent

India's highest ranked Energy PSU in Fortune-500 list of 2023 (Rank 94), IndianOil
recorded Revenue from Operations of ₹9,34,953 Crores and a net profit of ₹8,242
Crores for the financial year 2022-23

As a Brand with one of the largest customer interfaces in India, IndianOil

reaches precious petroleum fuels to every nook and corner of the country through its
network of over 60,000 plus customer touch-points, surmounting the challenges of
tough terrain, climate and accessibility. The marketing network is bolstered by 70.05
MMTPA of Refining Capacity and more than 17,000 KM of cross-country pipelines.
Moreover, IndianOil's R&D Centre at Faridabad, one of Asia's finest in downstream
petroleum R&D, offers a competitive advantage to the Corporation through world-
class technology and process solutions and innovative products. IndianOil R&D has
also been instrumental in pioneering path-breaking research to leverage the potential
of Hydrogen and other cleaner fuels for the sustainable progress of the nation.
 One of India’s most socially responsive brands, IndianOil, has successfully
combined its corporate social responsibility agenda with its business offerings. The
Corporation has been partnering with communities in which it operates by supporting
numerous initiatives connected with health, family welfare, education, environment
protection, potable water, sanitation, empowerment of women and other
marginalised groups.

SWOT Analysis of IOCL – IOCL SWOT Analysis

SWOT Analysis of IOCL (Indian Oil Corporation Limited) focuses on Strengths, weaknesses,
opportunities, and threats. Strength and Weakness are the internal factors and Opportunities
and Threats are the external factors that influence the SWOT Analysis of IOCL (Indian Oil
Corporation Limited).

Indian Oil Corporation Limited is another name for IOCL. It is a gas and oil
corporation that is wholly controlled by the Ministry of Petroleum and Natural Gas,
Government of India. It is India’s largest commercial oil corporation, and it was
placed first on the Fortune India 500 list. It employs over 33,498 people and has vast
distribution, marketing, and refining capabilities.

Strengths this in the SWOT Analysis of IOCL – IOCL SWOT

Analysis
Strong Network: With a large distribution network of 10,000 distributors, IndianOil
has a brand of LPG cooking gas called Indane that serves 12 crore households. With
the brand Servo, it is a market leader in the lubrication industry. Every day, 1,750
planes are powered by the company’s 107 aviation fuel systems. IOCL is one of
India’s top brands. The firm was named one of India’s “Most Trusted Brands” in the
“Gasoline” category by Reader’s Digest-AC Nielsen Survey. The firm has lived true
to the brand’s goal by pledging to cultivate customer relationships, innovate, harness
technology, and care for the environment and the community.

Pipeline Network: The corporation owns and operates 13,400 kilometers of cross-
country pipelines that transport crude oil, processed petroleum products, and natural
gas. The business just completed the installation of 543 kilometers of new pipeline
sections. The company owns and administers two SPM terminals in Vadinnar’s high
seas, as well as three more SPMSingle-Point Mooring (SPM) terminals in Paradip
that are used to moor pipeline systems that transport crude oil from ocean tankers to
onshore tank farms. The corporation operates crude oil tank farms with massive
capacities, ensuring seamless onward transfer to refineries through pipelines.
State of Art Research and Development Facility: IOCL has the most advanced
R&D facility. It has conducted pioneering research in the fields of lubricants,
pipelines, refineries, alternative fuels, engine testing, and environmental sciences. In
India and other countries, the business holds 554 patents. The research and
development facility is located on a vast 65-acre complex in Faridabad, India. The
center has been successful in developing technological solutions that are cost-
effective, socially responsible, and ecologically friendly. IOCL focuses on cutting-
edge research in nanotechnology, polymers, coal gasification, and petrochemicals,
and polymers and petrochemicals.

Focus on Sustainability: The corporation has long believed in sustainability and

was an early investor in renewable energy sources, amassing a 200-MW portfolio of
solar and wind generating capacity that is quickly expanding. Under the
government’s Swachh Bharat Abhiyan, IOCL is investing in and researching many
waste-to-energy solutions. IOCL is also the industry leader in transforming the retail
network to run on solar energy, with almost one-third of its gasoline stations using
solar power. The majority of the company’s efforts are aimed at making its operations
more environmentally friendly, with the goal of reducing its water and carbon
footprints by 20% and 18%, respectively.

Strong Brand Portfolio: Over the years, IOCL has made significant investments in
developing a strong brand portfolio. This is reinforced by IOCL’s SWOT analysis. If
the company wishes to grow into other product categories, this brand portfolio may
be quite beneficial.

Effective Go To Market Strategy: Its Go To Market techniques for its products

have been extremely effective.

Good Training Programmes: Successful training and learning programmes

have resulted in a highly competent workforce. IOCL invests heavily in
employee training and development, resulting in a team that is not just highly
competent but also driven to achieve more.
Weakness in the SWOT Analysis of IOCL – IOCL SWOT
Analysis
Tough Competition:Reliance Industries, ONGC, Hindustan Petroleum, and Bharat
Petroleum are IOCL’s key competitors. Bharat Petroleum, another major rival of
IOCL, has invested in different R&D initiatives. It also operates huge refineries in
Mumbai and Cochin and is a Fortune 500 company. To keep ahead of the
competition and avoid losing market share, IOCL must make strategic decisions and
investments.

Government Control: IOCL has suffered significant losses as a result of the

government’s management of gasoline pricing policy because the center frequently
fails to follow its commitments to keep gasoline costs artificially low. The corporation
continues to borrow more and spend more in order to assure constant fuel supply to
consumers, but growing interest costs slash their profit, limiting their capacity to drive
the new project to modernize.

Need more investment in new technologies:Given the scale of expansion and

different geographies the company is planning to expand into, IOCL needs to put
more money in technology to integrate the processes across the board. Right now
the investment in technologies is not at par with the vision of the company.

Opportunities in the SWOT Analysis of IOCL – IOCL SWOT

Analysis
Growing Business and Demand: IOCL’s primary business has been
transportation and distribution of petroleum products, as well as refining and other
related activities, in response to India’s expanding need for fuel. Over the years, the
firm has extended its activities throughout the hydrocarbon value chain, including oil
and gas exploration, as well as diversification into natural and alternative energy
sources.

Market Expansion: IOCL has been steadily extending its business worldwide, with
offices in the UAE, Bangladesh, Myanmar, Mauritius, Singapore, and the United
States. The company has also expanded its operations through collaborative
partnerships with reputable partners from both outside and India. Ratnagiri Refinery
and Petrochemicals Ltd. was formed as a joint venture between BPCL and HPCL.
The company is performing incredibly well in the international market and has been
able to create several chances for the organization.

Increasing natural gas market: Natural gas is developing as a cleaner alternative

to fossil fuels, and the government of India is pushing for a gas-based economy and
measures to utilize it across industries. IOCL obtains liquefied natural gas (LNG)
from overseas suppliers with whom it has a long-term contract. Currently, IOCL
distributes LNG to 58 institutional clients in the electricity, fertilizer, steel, and
industrial sectors.
Threats in the SWOT Analysis of IOCL – IOCL SWOT Analysis
Government Policies and Regulations:The government’s decision to provide
citizens with relief from rising gasoline costs resulted in massive losses for the
corporation. Companies such as IOCL, BPCL (Bharat Petroleum Corp. Ltd), and
HPCL (Hindustan Petroleum Corp. Ltd) were predicted to lose Rs. 9000 crore in net
profit. Certain government actions to reduce fuel and diesel prices have a significant
impact on the company’s earnings.

Economic Conditions:The corporation is dealing with a number of issues relating

to rising oil costs, currency fluctuations, and growing worries about air pollution. The
company’s goal and primary strategy are to address the difficulties and possibilities
given by environmental circumstances,
Profit & Loss
Consolidated Figures in Rs. Crores /View Standalone
RELATED PARTYPRODUCT SEGMENTS

Mar 2021 Mar 2022 Mar 2023 Mar 2024

Sales + 363,950 589,321 841,756 776,352

Expenses + 324,021 541,563 811,010 700,761

Operating Profit 39,929 47,758 30,745 75,591

OPM % 11% 8% 4% 10%

Other Income + 4,696 4,332 5,061 5,389

Interest 2,933 5,454 7,588 7,826

Depreciation 10,941 12,348 13,181 15,866

Profit before tax 30,751 34,289 15,038 57,288

Tax % 29% 25% 22% 25%

Net Profit + 21,762 25,727 11,704 43,161

EPS in Rs 15.32 17.78 6.93 29.55

Dividend Payout % 51% 46% 42% 41%

PROFIT & LOSS

80000
70000
60000
50000
40000
30000
20000
10000
0
Jan-21 Jan-22 Jan-23 Jan-24
Operating Profit Net Profit
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone

Mar Mar Mar

2022 2023 2024

Cash from Operating 25,747 29,644 71,099

Activity +

Cash from Investing Activity + - - -

21,294 28,030 31,464

Cash from Financing -4,058 -1,794 -

Activity + 39,385

Net Cash Flow 395 -180 250

Chart Title
80000

60000

40000

20000

0
Jan/22 Jan/23 Jan/24
-20000

-40000

-60000
Operating Activity Investing Activity Financing Activity Net Cash Flow
 CONCLUSION

The financial report for Indian Oil Corporation Limited (IOCL) for the fiscal
year ending March 31, 2024, indicates a mixed performance with notable
improvements in profitability despite a decline in revenue. IOCL's total revenue for
the year was INR 8,850,783 million, down from INR 9,556,716.4 million the previous
year. However, the company's net income saw a significant increase to INR
417,296.9 million, compared to INR 97,921.2 million in the previous fiscal year. This
resulted in a substantial rise in earnings per share from INR 7.11 to INR 30.3. The
company's performance can be attributed to its strategic initiatives and cost
management efforts. Despite the challenges posed by fluctuating global oil prices
and economic uncertainties, IOCL has managed to enhance its operational efficiency
and maintain a robust financial position. The increase in net income reflects effective
cost control measures and a focus on high-margin products.Moving forward, IOCL
aims to continue its focus on sustainability and innovation, investing in renewable
energy projects and enhancing its refining and distribution capabilities to meet the
growing energy demands of India. The company's commitment to achieving net-zero
emissions by 2046 and its ongoing efforts in environmental management highlight its
dedication to sustainable growth.
 BIBLIOGRAPHY
I CHANDANA PATTAR for successfully completing my project file. I have

taken help from the following website links :

I used:
 Internet Explorer
 Textbooks of Computer Applications
 News paper

 www.google.com
 www.wikipedia.com
 https://www.screener.in

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