Description
India’s largest commercial enterprise and flagship national oil company and downstream petroleum
major
First Ranked Indian corporate in Fortune Global 500 – moved up 15 steps from 98
position last year to
83
rd
position in 2012
“Maharatna” status – another jewel in the crown
Contribution to Exchequer Rs.78,885 crore for FY 2011-12
Major supplier to core sector
th
Supplier of fuel to Government organizations i.e. railways, state road transport, army, air force & navy
Key sectors like fertilizer, power & aviation are largely supplied by IOCL
Investor Presentation
February 2013
1
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
Company Overview - Corporate History
Indian Oil Company Ltd.
1959
Indian Refineries Ltd.
1958
Indian Oil Corporation Ltd. 1964
Merger
Assam Oil Company
1981
IOBL
2006
Companies Merged
IBP Co. Ltd
2007
BRPL
2009
Integrated Refining and Marketing
company in PSU domain
2
Corporate Journey
1964
2010
1997 2000 2002 2004 1972 1994
First
petroleum
product
pipeline
commissioned
: Guwahati-
Siliguri
pipeline
Enters into
LNG
business
through a JV
with Petronet
LNG
Entry into E&P
business,
awarded two
exploration
blocks under
NELP-I
Enters into
polymers
business
Awarded
“ Maharat
na"
status by
the Govt.
of India
Becomes
first Indian
oil & gas
company to
establish
R&D Center
Commissions
India’s first
Hydrocracker
unit
Becomes the
first Indian
company to
cross the INR
1,000 Bn
turnover mark
First Indian
petroleum
company to
start overseas
retail business
Enters
petrochemical
business by
commissioning the
world’s largest
single train kerosene
to LAB unit
Enters into
the gas
business
2005
Mathura refinery
becomes India’s
first refinery to
produce Euro-III
Compliant diesel
& petrol
Became top
national oil
company in
Asia Pacific
1962
Established
first public
sector
refinery at
Guwahati
Awarded
“ Navratna"
status by the
Govt. of India
1964-65
Rs.78 cr
2011-12
Rs. 4,09,957 cr
Turnover
3
? India’s largest commercial enterprise and flagship national oil company and downstream petroleum
major
? First Ranked Indian corporate in Fortune Global 500 – moved up 15 steps from98
th
position last year to
83
rd
position in 2012
? “Maharatna”status – another jewel in the crown
? Contributionto Exchequer Rs.78,885crore for FY 2011-12
? Major supplier to core sector
? Supplier of fuel to Government organizations i.e. railways, state roadtransport, army, air force &navy
? Keysectors like fertilizer, power &aviation are largelysuppliedby IOCL
? Credit Profile
? International:
? Baa3 : by Moody’s
? BBB- : by Fitch
? Domestic
? LongTerm: AAA by CRISIL, ICRA &FITCH
? Short Term: A1+by CRISIL &ICRA
IndianOil – Quick Facts
4
Corporate Structure
Chairman
7 Whole-time
Functional Directors
2 Part-time Non-
executive Nominee
Directors from
MOP&NG
10 Independent
Directors
Board Structure
Notes
Shareholding pattern as on 31
st
March 2012
Sharing Holding Pattern
* Others include individuals & trusts etc
5
6
Government Ownership and support in all spheres of the Company’s operations
* Total equity ownership including equity stake directly held by the Government (78.92%) and that held indirectly through ONGC (8.77%)
Performance:
Annual MoU
with Govt. for
performance
Capital
Raising:
Government
Approval
Board
Control:
Members
Nominated to
IOC Board
Pricing:
Select
petroleum
products
based on
Govt.
initiative
Functional
Directors:
Appointment
by President
of India
Equity
Control:
87.69%*
Government Of India’s Ownership & Support
Operating Structure
…. also diversified into E&P, Gas, Wind, Solar, Nuclear Power and Bio-fuels
Downstream & Petrochemical Operations
Refining
Pipeline
Transportation
Fuel
Marketing
Research &
Development
Petrochemicals
7
• 10 out of 22
refineries in the
country
• 65.7 MMTPA
capacity ( 31%)
Group
Refining
• 37,000 Touch
Points (52%)
• 66.8 million
LPG customers
Marketing
• Over 10,900 Km
length
• 77 MMTPA
capacity
Pipelines
• Lube
formulations
• In-house
technologies
• Patents (215)
R&D
1.4.2012
•Operate world scale
Naphtha Cracker unit
•Major player in
petrochemicals in
India
•Export to 20 countries
Petrochemicals
•Domestic:14 Blocks
NELP(12),CBM(2)
•Over Seas: 9 blocks
Libya (3), Iran (1),
Yemen (2), Nigeria (1),
Gabon (1) &
Venezuela (1)
Exploration &
Production
•Co-promoter in M/s
PLL
•LNG at Doorstep
•CGD
•Gas infrastructure
(Storage / Transportation)
Gas
•Biofuel : Captive
plantation
•Wind : 37.8 MW capacity
•Nuclear : Equity
partnership
•Solar: Grid-connected 5
MW PV solar power plant ,
Solarization of Ros (103)
Renewable
Business Space
9
IOCL’s Dominance in Downstream Oil sector
Source: Petroleum Planning & Analysis Cell , IOCL; All figures for FYE 2012
Petroleum Product Market Share is provisional
Key: BPCL – Bharat Petroleum Corporation Limited Group; HPCL – Hindustan Petroleum Corporation Limited; ONGC – Oil and Natural Gas Corporation Limited; RIL –
Reliance Industries Limited;
IOCL
50%
BPCL
27%
HPCL
23%
Refining Share Products Pipelines Share
Industry Capacity –
213.18 MMT
Downstream Industry Capacity –
70.35 MMT
Petroleum Products Market Share
Industry Size –
147.99 MMT
Largest refiner
Largest pipeline
network
Largest marketing
share
10
Financial Overview
R
s
.
/
c
r
o
r
e
18,872
16,339
21,600
50,553
55,332
57,877
2,71,095
3,28,652
4,09,957
FYE 10 FYE 11 FYE 12
EBITDA Net Worth Turnover
? Turnover surpassedRs.4,00,000crore mark in 2011-12
? Highest ever EBITDA of Rs.21,600crore in 2011-12
11
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
UPSTREAM
(Exploration &
Production)
DOWNSTREAM
(Refining, Marketing
& Pipelines)
GAS (Transport &
Distribution)
Oil Industry in India – An Overview
Oil & Natural Gas Corporation Ltd. (ONGC)
1
Oil India Ltd.
Indian Oil Corporation Ltd.
2
Hindustan Petroleum Corporation Ltd. (HPCL)
Bharat Petroleum Corporation Ltd. (BPCL)
3
GAIL (India) Ltd.
Reliance, Cairn Energy, HOEC, Premier Oil etc
Reliance Industries Ltd. (RIL) / Essar Oil Ltd. / Shell
1 – includes subsidiary ONGC Videsh Ltd (OVL); 2 – includes subsidiary Chennai Petroleum Corporation Ltd. (CPCL);
3 – includes subsidiary Numaligarh Refinery Ltd.; 4 – a subsidiary of ONGC Ltd.
Mangalore Refinery & Petrochemicals Ltd (MRPL)
4
IndianOil Corporation Ltd.
Reliance Industries Ltd. (RIL)
Gujarat State Petroleum Corporation (GSPC)
Indraprastha Gas Ltd (IGL)
Mahanagar Gas Ltd (MGL)
12
115
130
145
FYE 07 FYE 08 FYE 09 FYE 10 FYE 11 FYE 12
121
129
134
138
141
148
Consumption (MMT)
Source: Petroleum Planning & Analysis Cell, Ministry of Petroleum & Natural Gas, Govt. of India
Consumption of petroleum products grew at CAGR of 4.1% in last five years
Large Potential in India
13
14
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
15
Refining – Portfolio
? Controls 10 refineries spread across
the country (65.70 MMT – 31% of
Industry)
? Share to increase after commissioning
of 15MMTPA at Paradeep
? Three of the Refineries with maximum
capacity are located in high
consumption North / West Indian
region
Figures as on FYE 12
Refining Industry Capacity 213.18
MMTPA
IOCL’s share of Total Capacity 31%
IOCL’s share among PSUs 49%
Mumbai
Vizag
Chennai
Cochin
Narimanam
Bongaigaon
Mangalore
Panipat
Guwahati
Haldia
Barauni
Mathura
Koyali
Digboi
Jamnagar
Tatipaka
Numaligarh
IndianOil
Existing (54.2 MMT)
Subsidiary Cos. (11.5 MMT)
Under construction (15 MMT)
Other Companies - Existing (147.5 MMT)
Bina
Paradip
• Access to high demand
market of North India
• Largest capacity in thi s
region
HMEL
5
0
.
7
5
3
.
0
5
5
.
6
FYE 10 FYE 11 FYE 12
? Strategic inland refinery locations with most
effective supply and evacuation system through
pipelines
? Highest ever throughput of 55.6 MMT
? Highest ever distillate yield of 77.8%
? Lowest ever specific energy consumption at 57
MBN* against 59 MBN in FYE 2010-11
? All refineries are Euro III / IV compliant
Refinery Throughput (MMT)
Refining – Operating Highlights
*An energy index defined as MBTU/BBL/NRGF
16
Over 100% capacity utilization for 5th consecutive year
Refining – Energy Consumption
*An energy index defined as MBTU/BBL/NRGF
17
Overall MBN of IOC refineries always lower than PSU average by 5-6 units
M
B
N
18
? Largest liquidpipeline network
? 132 kmof gas pipeline with a capacity of 10
MMSCMD
? Provides lowcost of transportation
? Completed 217 Kmlong Viramgam– Kandla
product pipeline
? Capacityaugmentation:
Chennai-Trichi-Madurai pipeline: from 1.8
to 2.3 MMTPA
Chennai-Bengaluru pipeline: from 1.45 to
2.45 MMTPA
Wide Network of Cross Country pipelines
Figures of IOC Group including Gas
Length
(KM)
Capacity
(MMTPA)
Market Share
Downstream
Crude Oil
Pipelines
4,376 40.40 73%
Product
Pipelines
6,401 35.36 50%
Total 10,777 75.76 60%
Kandla
Vadinar
Mundra
Chaksu
Guwahati
Bongaigaon
Siliguri
Digboi
Tinsukia
Jalandhar
Delhi
Meerut
Tundla
Najibabad
Roorkee
Ambala
Mathura
Kot
Sidhpur
Ahmedabad
Jodhpur
Navagam
Sanganer
Ajmer
Dahe
j
Chittaurgarh
Koyali
Bhatinda
Sangrur
Panipat
Rewari
Haldia
Barauni
Kanpur
Lucknow
Mourigram
Rajbandh
Chennai
Sankari
Asanur
Trichy
Madurai
CBR
Bangalore
Bangalore AFS
Paradip
Ratlam
Chennai AFS
Bharatpur
Hazir
a
Product
LEGEND
Crude Oil
Refinery
Gas
FYE 10 FYE 11 FYE 12
23.0
26.0
28.0
42.0
42.5
47.5
Crude
Product
? Surpassing performance continues
? Highest ever throughput of 75.5 MMT achieved by IOCL’s pipelines in FYE 12
? Highest ever capacityutilization of 118%for crude oil pipelines
Pipelines Throughput (MMT)
Pipelines Operating highlights
19
65.0
68.5
75.5
20
Marketing – Reaching out, Touching Lives
52% of the Industry Infrastructure
Over 37,000
Customer touch-
points
LPG Bottling
Plants 89
LPG Distributorships
5,934
SKO / LDO
Dealerships 3,954
Terminal / Depots
139
Aviation Fuel
Stations
96
Retail Outlets
20,575
Bulk Consumer Pumps
6,218
Source: Industry Data of IOCL;
All figures as on FYE 2012
Marketing - Sales
Rural Penetration : Contributing towards inclusive growth
N
o
.
o
f
K
S
K
s
c
o
m
m
i
s
s
i
o
n
e
d
d
u
r
i
n
g
t
h
e
y
e
a
r
KSK Sales (MS & HSD) - % of total IOC’s Sales (MS & HSD)
FYE 05 FYE 06 FYE 07 FYE 08 FYE 09 FYE 10 FYE 11 FYE 12
22
558
743
727
469
414
575
731
5.0
6.5
7.6
9.2
FYE 09 FYE 10 FYE 11 FYE 12
21
22
Marketing – Touching Billion Hearts
? Market leader with 46% market share and 52%
market share in terms of infrastructure
? 45% of the total volume from retail sales; highway
RO business accounts for more than 50% of the
retail business
? Sales through KSK network registered 32%growth in
MS and 28% in HSD – contribution of KSK outlets to
total sales increasedto 7.9%in MS and9.1%in HSD
? IndianOil’s share in the highly competitive lube
market increasedto 30.8%
? With the launch of brand Servo in Bahrain, the brand
has nowpresence in 20 countries
? IndianOil Aviation Service, with 61.8% market
share, maintained its leadership position in the
business
Source: Industry Data of IOCL;
FYE 10 FYE 11 FYE 12
65.4
67.9
71.4
4.5
5.0
4.3
Inland Export
Highest ever sales of 75.7 MMT
69.9
72.9
(
M
M
T
)
75.7
23
? Branded Products
? Branded Services
? Diversified range of core sector customers
? The turnover growth is insulated from the cyclical
demand fluctuations due to diversified customer base
Diversified
Customer
Base
Diversified
Products &
Brands
? Xtra Premium Petrol
? Xtra Mile Diesel
? Indane LPG
? SERVO Lubricants
Diversified Customer Base & Product Suite
? Railways
? Power House
? Fertiliser Plants
? Defence
? Aviation
? Coal
? Transport
? Kisan Seva Kendra ? Xtra Care Outlets
“ SERVO – India’s No. 1 lubricant brand “
Kisan Seva Kendra outlets for extending
rural reach
Retail Outlet at Boat house
24
? Commercializationof technologies
? INDMAX :For maximisation of LPG &light distillates fromRefineryResidue.
? Marine Oils : One of six companies to have developed “Original Equipment
ManufacturerApproved Marine TechnologyEquipment”
? Needle Coke :One of three companies in world that possess technology to make high
value needle coke
? Diesel Hydrotreating (DHDT) and Light Naphtha Isomerisation units commissioned at
BongaigaonRefineryto produce Bharat Stage IV complaint Diesel &Euro III/IV MS
? Wideninghorizons
? Newpetrochemical and polymer labs fullyfunctional
? MOU with the Department of Bio-Technolodgy to set up “Advanced Bio-energy
ResearchCentre”
? Commissionedfluidizedbed gasificationpilot
R&D Providing The Cutting Edge
25
? Lubricants
? 154 product formulations developed, 108 commercialized, 56 approvals obtained from
user Industries / OEMs
? In a first overseas business gain, Mauritius Shipping Corporation adopted indigenously
developed Servo Marine grades
? Patents
? Sixpatents grantedduringthe year
? Details of active patent
? Central Development Center at Faridabad
India USA Others Total
119 46 50 215
Lubes Refinery Others Total
42 101 72 215
R&D Providing The Cutting Edge
All figures as on FYE 2012
26
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
FYE 10 FYE 11 FYE 12
124 124
100
528
447
542
151
239
216
658
Polymers
Glycols
PX/PTA
LAB
938
1539
27
Spreading our Wings – Petrochemicals
Forward Integration into Petrochemicals
Key: LAB: Linear Alkyl Benzene; PTA: Purified Terephthalic Acid; NELP: New Exploration Licensing Policy; MEG: Monoethylene Glycol; DEG :
Diethylene Glycol
? 120 TMTPA capacity LAB plant
commissioned at Gujarat in August
2004
? 553 TMTPA capacity PX/PTA at
Panipat in J une 2006
? 857 TMTPA Ethylene and 650 TMTPA
Propylene capacity commissioned at
Panipat in 2010
Turnover
(Rs./crore)
3,734 6,087 11,839
2nd largest petrochemicals capacity share in the country
652
Sales (KT)
28
Spreading our Wings – E&P
Domestic Exploration Blocks
? NELP – 14 blocks with ONGC / OIL / GAIL / GSPC / Petrogas / HPCL /
HOEC / AWEL (15-100% participating interest)
? Coal Bed Methane – 2 blocks with ONGC (20% participating interest)
International Exploration Blocks
? Total 10 blocks- Libya(3), Iran (1), Yemen(2) , Nigera(1), Gabon (1) &
Venezuela (1), USA (1)
Backward Integration into E&P
Key: NELP: New Exploration Licensing Policy
29
Diversification to Other Energy Sources
? Gas sales of 1.72MMT in FYE 2012, Turnover grewby4.9%against previous year
? Operating City Gas Distribution (CGD) network with J V company Green Gas Ltd in Agra &
Lucknow
? ConsortiumwithAdani Gas Ltdto develop CGDnetwork on panIndia basis
? Settingup5 MMTPALNG regasificationandstorage terminal at Ennore
? Formed a consortium with Gujarat State Petronet Ltd, BPCL & HPCL to build three cross-
countrypipeline througha joint venture; IOC’s share at 26%
? On 6
th
April 2011 formed J V with Nuclear Power Corporation of India to establish (700*2)
MWnuclear plant at Rawatbhatta, Rajasthan. IOC’s Share 26%(Rs.961crore)
NUCLEAR
GAS
30
Diversification to Other Energy Sources
Wind Power, Biofuels & Solar Energy
? Commissioned21MWplant at Kachchh, Gujarat in J an09
? Second plant of 48.3 MW capacity consisting of 23 windmills under implementation in Andhra
Pradesh; out of 23, 8windmills commissionedin March’12
? Chhattisgarh Project: Subsidiary with Chhattisgarh Renewable Development Authority for
plantationof J atrophain 30,000hectare wasteland
? Madhya PradeshProject: IOC alloted2,000hectare wastelandfor J atrophaplantation
? UP Project: Formed LLP with Ruchi Soya Industries Limited with objective of J atropha
plantationon 50,000hectare wasteland
? Commissioned5 MWsolar plant in Rajasthan
? Solar plants at Retail Outlets / PLHO
? Solar Lanterns launchedin IOC’s state offices
SOLAR
Wind Power
BIOFUELS
•Aviation, terminaling and retail
•Leader in aviation
•24,000 Metric Ton capacity storage
Terminal at Port Louis
•18 retail outlets
IndianOil
Mauritius
Ltd.
(100% )
•Storage, terminaling and retail business
•157 retail outlets
•1/3
rd
share in Ceylon Petroleum Storage
Terminals Ltd
•Listed on Colombo Stock Exchange
Lanka IOC
Ltd.
(75.1% )
•Marketing of SERVO lube & petroleum
products in Middle East, Africa and CIS
countries.
•Exports finished lubes to Oman, Yemen
, Bahrain, UAE and Nepal.
IOC Middle
East FZE
(100% )
Overseas Downstream Marketing: Leveraging core competence
Overseas Presence
32
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
Financial Performance
Net Profit
Turnover
Net Worth
(INR / bn)
(INR / bn)
(INR / bn)
(INR./ bn)
411
440
506
553
579
200
300
400
500
600
FY08 FY09 FY10 FY11 FY 12
2,475
2,854
2,711
3,287
4,100
1,500
2,000
2,500
3,000
3,500
4,000
4,500
FY08 FY09 FY10 FY11 FY 12
70
30
102
74
40
0
25
50
75
100
125
FY08 FY09 FY10 FY11 FY 12
101
43
141
91
115
0
25
50
75
100
125
150
FY08 FY09 FY10 FY11 FY 12
PBT Before Exceptional Items
(1)
(1)
Before Entry Tax amounting to Rs.7708 crore in FY’12
33
Financial Performance
EBITDA
(INR / bn)
Pipelines EBITDA
26
29
33
35
40
FY08 FY09 FY10 FY11 FY 12
(INR./ bn)
143
113
189
163
216
FY08 FY09 FY10 FY11 FY 12
34
Financial Performance
361
424
402
387
354
75
62
81 109
209
200
300
400
500
600
FY08 FY09 FY10 FY11 FY 12
Liquid Investments
(1)
(INR Bn)
(x)
0.3
0.4 0.4
0.3
0.4
0.0
0.1
0.2
0.3
0.4
FY08 FY09 FY10 FY11 FY 12
0.9
1.0
0.9
1.0
1.30
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
FY08 FY09 FY10 FY11 FY 12
Total Debt to Equity
Core Debt to Equity
(x)
Note
(1) Liquid investments include Market Value of shares held in ONGC Ltd., GAIL (India) Ltd., OIL India Ltd., shares held in Trust formed for merger of IBP Co. Ltd. and Bongaigaon
Refinery & Petrochemicals Ltd and Special Oil Bonds & receivables from GoI in the form of oil bonds till FY’09; thereafter cash subsidy
Long Term Debt to Equity
Receivables from GoI
Investments
436
486
483 496
563
(x)
-0.2
-0.1
-0.1
0.1
0.33
-0.2
-0.1
0.0
0.1
0.2
0.3
0.4
FY08 FY09 FY10 FY11 FY 12
35
INR Crore
Compensation of Under Realization
“ Indian government has demonstrated a track record of adequately
compensating IOC for under-recoveries and ensuring that the
company achieves a reasonable level of profitability” – Moody’s
FYE 08 FYE 09 FYE 10 FYE 11 FYE 12 Apr-Dec
12
Gross Under-
realization
43,094 58,593 25,879 43,112 75,469 67,123
Upstream
Discount
14,323 18,210 7,548 16,704 29,961 24,327
Oil Bonds
18,997 40,383 - - - -
Cash
Compensation
- - 15,172 22,605 45,486 29,569
Net Under-
realization
9,774
(23%)
0.0
(0%)
3,159
(12%)
3,803
(9%)
22
(o%)
13,227
(20%)
Govt. Support
36
Infrastructure Base – A Phenomenal Growth
G
r
o
s
s
B
l
o
c
k
o
f
F
i
x
e
d
A
s
s
e
t
s
(
R
s
.
/
t
h
o
u
s
a
n
d
c
r
o
r
e
)
Gross Fixed Assets includes Capital Work in Progress
FYE 08
FYE 09
80
66
FYE 10
93
FYE 11
37
FYE 12
38
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Nine Months Snapshot
Ongoing Projects
Refining Operating Highlights
39
Q3 Q2 Q1 Apr-
Dec’12
Crude T’put
(MMT)
14.2 13.1 13.6 40.9
Capacity
Utilization (%)
103.4 96.3 100.8 100.2
Distillate Yield
(%)
78.4 78.6 77.6 78.2
GRM ( $/bbl) 6.15 5.15 (4.81) 2.22
Thruput (MMT)
Pipelines Operating Highlights
40
Q3 Q2 Q1 Apr-
Dec’12
Crude:
Thr’put
Capacity
Utilisation
11.9 11.5 11.6 35.0
115.6% 111.4% 113.0% 113.3%
Product:
Thr’put
Capacity
Utilisation
7.5 6.8 7.0 21.3
71.7% 67.1% 69.4% 68.9%
Total:
Thr’put
Capacity
Utilisation
19.4 18.3 18.6 56.3
93.4% 89.2% 91.3% 91.1%
Thruput (MMT)
Marketing Operating Highlights
41
Q3 Q2 Q1 Apr-
Dec’12
Inland 17.626 16.162 17.712 51.500
Export 1.133 0.766 0.855 2.754
Gas 0.453 0.429 0.451 1.333
Petro-
chemicals
0.472 0.470 0.405 1.347
Explosives 0.022 0.018 0.020 0.060
Total 19.706 17.845 19.443 56.994
Sales (MMT)
(MMT)
Financial Highlights
42
545
383
297
319
200
300
400
500
600
Q1 Q2 Q3 Current
Core Debt
PBT
-225
96
33
-95
-225
-175
-125
-75
-25
25
75
Q1 Q2 Q3 Apr-Dec' 12
(INR./ bn)
175
-39
-4
132
-50
0
50
100
150
Q1 Q2 Q3 Apr-Dec' 12
(INR./ bn)
Net Under - Recovery
909 906
949
850
700
800
900
1,000
Q1 Q2 Q3 Current
(INR./ bn)
Borrowings
(INR./ bn)
43
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
44
Petrochemi c
al s, 145
Refining *,
8355
Marketi ng,
230
Pi pel i nes,
960
others, 311
TOTAL CAPEX Outlay :
Rs.10,000 crore
* Includes refineries’ capacity additions, yield & quality improvement
** Includes R&D and diversifications such as LNG and E&P etc.
Plan Capex Outlay: 2012-13
Capex Outlay
INR crore
2011-12 2012-13*
Plan Expenditure
11,073 10,000
Non Plan Expenditure
3,402 5,479
Total
14,475 15,479
* Budgeted Estimate
Capital Expenditure
Major ongoing projects
Projects-Refinery
Anticipated Outlay
(INR crore)
Objective
Anticipated
Completion
Paradip Refinery 29,777
To meet domestic demand & export of surplus
product
Sep-Nov ‘13
Fluidized Catalytic Cracking Unit at
Mathura Refinery
1,000
To increase processing capacity of unit from 1.3 to
1.5 MMTPA & maximize production of value added
propylene
July’ 13
Butadiene Extraction Unit at Panipat 342
Designed to produce 138 MTPA of Butadiene to be
used as feedstock for SBR project at Panipat
Feb’13
Total :
31,119
Projects-Pipelines
Anticipated Outlay (INR
crore)
Capacity
Anticipated
Completion
Paradip-Sambalpur-Raipur-Ranchi pipeline 1,793 5 MMTPA
To be revised due to
non-receipt of forest
clearance
Debottlenecking of Salaya-Mathura crude pipeline 1,584 4 MMTPA
30 months after
statutory clearance
Integrated crude handling facilities at Paradip* 1,492 37 MMTPA Mar’13
Tanks and Blending facilities at Vadinar 267 425000 KL Feb’13
Paradip-Haldia-Durgapur LPG pipeline
913 0.85 MMTPA
30 months after
statutory clearance
Augmentation of Paradip-Haldia-Barauni Pipeline
586 4.2 MMTPA
Total :
6,635
45
* Included in the cost of Paradip Refinery
Thank You
doc_345745914.pdf
India’s largest commercial enterprise and flagship national oil company and downstream petroleum
major
First Ranked Indian corporate in Fortune Global 500 – moved up 15 steps from 98
position last year to
83
rd
position in 2012
“Maharatna” status – another jewel in the crown
Contribution to Exchequer Rs.78,885 crore for FY 2011-12
Major supplier to core sector
th
Supplier of fuel to Government organizations i.e. railways, state road transport, army, air force & navy
Key sectors like fertilizer, power & aviation are largely supplied by IOCL
Investor Presentation
February 2013
1
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
Company Overview - Corporate History
Indian Oil Company Ltd.
1959
Indian Refineries Ltd.
1958
Indian Oil Corporation Ltd. 1964
Merger
Assam Oil Company
1981
IOBL
2006
Companies Merged
IBP Co. Ltd
2007
BRPL
2009
Integrated Refining and Marketing
company in PSU domain
2
Corporate Journey
1964
2010
1997 2000 2002 2004 1972 1994
First
petroleum
product
pipeline
commissioned
: Guwahati-
Siliguri
pipeline
Enters into
LNG
business
through a JV
with Petronet
LNG
Entry into E&P
business,
awarded two
exploration
blocks under
NELP-I
Enters into
polymers
business
Awarded
“ Maharat
na"
status by
the Govt.
of India
Becomes
first Indian
oil & gas
company to
establish
R&D Center
Commissions
India’s first
Hydrocracker
unit
Becomes the
first Indian
company to
cross the INR
1,000 Bn
turnover mark
First Indian
petroleum
company to
start overseas
retail business
Enters
petrochemical
business by
commissioning the
world’s largest
single train kerosene
to LAB unit
Enters into
the gas
business
2005
Mathura refinery
becomes India’s
first refinery to
produce Euro-III
Compliant diesel
& petrol
Became top
national oil
company in
Asia Pacific
1962
Established
first public
sector
refinery at
Guwahati
Awarded
“ Navratna"
status by the
Govt. of India
1964-65
Rs.78 cr
2011-12
Rs. 4,09,957 cr
Turnover
3
? India’s largest commercial enterprise and flagship national oil company and downstream petroleum
major
? First Ranked Indian corporate in Fortune Global 500 – moved up 15 steps from98
th
position last year to
83
rd
position in 2012
? “Maharatna”status – another jewel in the crown
? Contributionto Exchequer Rs.78,885crore for FY 2011-12
? Major supplier to core sector
? Supplier of fuel to Government organizations i.e. railways, state roadtransport, army, air force &navy
? Keysectors like fertilizer, power &aviation are largelysuppliedby IOCL
? Credit Profile
? International:
? Baa3 : by Moody’s
? BBB- : by Fitch
? Domestic
? LongTerm: AAA by CRISIL, ICRA &FITCH
? Short Term: A1+by CRISIL &ICRA
IndianOil – Quick Facts
4
Corporate Structure
Chairman
7 Whole-time
Functional Directors
2 Part-time Non-
executive Nominee
Directors from
MOP&NG
10 Independent
Directors
Board Structure
Notes
Shareholding pattern as on 31
st
March 2012
Sharing Holding Pattern
* Others include individuals & trusts etc
5
6
Government Ownership and support in all spheres of the Company’s operations
* Total equity ownership including equity stake directly held by the Government (78.92%) and that held indirectly through ONGC (8.77%)
Performance:
Annual MoU
with Govt. for
performance
Capital
Raising:
Government
Approval
Board
Control:
Members
Nominated to
IOC Board
Pricing:
Select
petroleum
products
based on
Govt.
initiative
Functional
Directors:
Appointment
by President
of India
Equity
Control:
87.69%*
Government Of India’s Ownership & Support
Operating Structure
…. also diversified into E&P, Gas, Wind, Solar, Nuclear Power and Bio-fuels
Downstream & Petrochemical Operations
Refining
Pipeline
Transportation
Fuel
Marketing
Research &
Development
Petrochemicals
7
• 10 out of 22
refineries in the
country
• 65.7 MMTPA
capacity ( 31%)
Group
Refining
• 37,000 Touch
Points (52%)
• 66.8 million
LPG customers
Marketing
• Over 10,900 Km
length
• 77 MMTPA
capacity
Pipelines
• Lube
formulations
• In-house
technologies
• Patents (215)
R&D
1.4.2012
•Operate world scale
Naphtha Cracker unit
•Major player in
petrochemicals in
India
•Export to 20 countries
Petrochemicals
•Domestic:14 Blocks
NELP(12),CBM(2)
•Over Seas: 9 blocks
Libya (3), Iran (1),
Yemen (2), Nigeria (1),
Gabon (1) &
Venezuela (1)
Exploration &
Production
•Co-promoter in M/s
PLL
•LNG at Doorstep
•CGD
•Gas infrastructure
(Storage / Transportation)
Gas
•Biofuel : Captive
plantation
•Wind : 37.8 MW capacity
•Nuclear : Equity
partnership
•Solar: Grid-connected 5
MW PV solar power plant ,
Solarization of Ros (103)
Renewable
Business Space
9
IOCL’s Dominance in Downstream Oil sector
Source: Petroleum Planning & Analysis Cell , IOCL; All figures for FYE 2012
Petroleum Product Market Share is provisional
Key: BPCL – Bharat Petroleum Corporation Limited Group; HPCL – Hindustan Petroleum Corporation Limited; ONGC – Oil and Natural Gas Corporation Limited; RIL –
Reliance Industries Limited;
IOCL
50%
BPCL
27%
HPCL
23%
Refining Share Products Pipelines Share
Industry Capacity –
213.18 MMT
Downstream Industry Capacity –
70.35 MMT
Petroleum Products Market Share
Industry Size –
147.99 MMT
Largest refiner
Largest pipeline
network
Largest marketing
share
10
Financial Overview
R
s
.
/
c
r
o
r
e
18,872
16,339
21,600
50,553
55,332
57,877
2,71,095
3,28,652
4,09,957
FYE 10 FYE 11 FYE 12
EBITDA Net Worth Turnover
? Turnover surpassedRs.4,00,000crore mark in 2011-12
? Highest ever EBITDA of Rs.21,600crore in 2011-12
11
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
UPSTREAM
(Exploration &
Production)
DOWNSTREAM
(Refining, Marketing
& Pipelines)
GAS (Transport &
Distribution)
Oil Industry in India – An Overview
Oil & Natural Gas Corporation Ltd. (ONGC)
1
Oil India Ltd.
Indian Oil Corporation Ltd.
2
Hindustan Petroleum Corporation Ltd. (HPCL)
Bharat Petroleum Corporation Ltd. (BPCL)
3
GAIL (India) Ltd.
Reliance, Cairn Energy, HOEC, Premier Oil etc
Reliance Industries Ltd. (RIL) / Essar Oil Ltd. / Shell
1 – includes subsidiary ONGC Videsh Ltd (OVL); 2 – includes subsidiary Chennai Petroleum Corporation Ltd. (CPCL);
3 – includes subsidiary Numaligarh Refinery Ltd.; 4 – a subsidiary of ONGC Ltd.
Mangalore Refinery & Petrochemicals Ltd (MRPL)
4
IndianOil Corporation Ltd.
Reliance Industries Ltd. (RIL)
Gujarat State Petroleum Corporation (GSPC)
Indraprastha Gas Ltd (IGL)
Mahanagar Gas Ltd (MGL)
12
115
130
145
FYE 07 FYE 08 FYE 09 FYE 10 FYE 11 FYE 12
121
129
134
138
141
148
Consumption (MMT)
Source: Petroleum Planning & Analysis Cell, Ministry of Petroleum & Natural Gas, Govt. of India
Consumption of petroleum products grew at CAGR of 4.1% in last five years
Large Potential in India
13
14
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
15
Refining – Portfolio
? Controls 10 refineries spread across
the country (65.70 MMT – 31% of
Industry)
? Share to increase after commissioning
of 15MMTPA at Paradeep
? Three of the Refineries with maximum
capacity are located in high
consumption North / West Indian
region
Figures as on FYE 12
Refining Industry Capacity 213.18
MMTPA
IOCL’s share of Total Capacity 31%
IOCL’s share among PSUs 49%
Mumbai
Vizag
Chennai
Cochin
Narimanam
Bongaigaon
Mangalore
Panipat
Guwahati
Haldia
Barauni
Mathura
Koyali
Digboi
Jamnagar
Tatipaka
Numaligarh
IndianOil
Existing (54.2 MMT)
Subsidiary Cos. (11.5 MMT)
Under construction (15 MMT)
Other Companies - Existing (147.5 MMT)
Bina
Paradip
• Access to high demand
market of North India
• Largest capacity in thi s
region
HMEL
5
0
.
7
5
3
.
0
5
5
.
6
FYE 10 FYE 11 FYE 12
? Strategic inland refinery locations with most
effective supply and evacuation system through
pipelines
? Highest ever throughput of 55.6 MMT
? Highest ever distillate yield of 77.8%
? Lowest ever specific energy consumption at 57
MBN* against 59 MBN in FYE 2010-11
? All refineries are Euro III / IV compliant
Refinery Throughput (MMT)
Refining – Operating Highlights
*An energy index defined as MBTU/BBL/NRGF
16
Over 100% capacity utilization for 5th consecutive year
Refining – Energy Consumption
*An energy index defined as MBTU/BBL/NRGF
17
Overall MBN of IOC refineries always lower than PSU average by 5-6 units
M
B
N
18
? Largest liquidpipeline network
? 132 kmof gas pipeline with a capacity of 10
MMSCMD
? Provides lowcost of transportation
? Completed 217 Kmlong Viramgam– Kandla
product pipeline
? Capacityaugmentation:
Chennai-Trichi-Madurai pipeline: from 1.8
to 2.3 MMTPA
Chennai-Bengaluru pipeline: from 1.45 to
2.45 MMTPA
Wide Network of Cross Country pipelines
Figures of IOC Group including Gas
Length
(KM)
Capacity
(MMTPA)
Market Share
Downstream
Crude Oil
Pipelines
4,376 40.40 73%
Product
Pipelines
6,401 35.36 50%
Total 10,777 75.76 60%
Kandla
Vadinar
Mundra
Chaksu
Guwahati
Bongaigaon
Siliguri
Digboi
Tinsukia
Jalandhar
Delhi
Meerut
Tundla
Najibabad
Roorkee
Ambala
Mathura
Kot
Sidhpur
Ahmedabad
Jodhpur
Navagam
Sanganer
Ajmer
Dahe
j
Chittaurgarh
Koyali
Bhatinda
Sangrur
Panipat
Rewari
Haldia
Barauni
Kanpur
Lucknow
Mourigram
Rajbandh
Chennai
Sankari
Asanur
Trichy
Madurai
CBR
Bangalore
Bangalore AFS
Paradip
Ratlam
Chennai AFS
Bharatpur
Hazir
a
Product
LEGEND
Crude Oil
Refinery
Gas
FYE 10 FYE 11 FYE 12
23.0
26.0
28.0
42.0
42.5
47.5
Crude
Product
? Surpassing performance continues
? Highest ever throughput of 75.5 MMT achieved by IOCL’s pipelines in FYE 12
? Highest ever capacityutilization of 118%for crude oil pipelines
Pipelines Throughput (MMT)
Pipelines Operating highlights
19
65.0
68.5
75.5
20
Marketing – Reaching out, Touching Lives
52% of the Industry Infrastructure
Over 37,000
Customer touch-
points
LPG Bottling
Plants 89
LPG Distributorships
5,934
SKO / LDO
Dealerships 3,954
Terminal / Depots
139
Aviation Fuel
Stations
96
Retail Outlets
20,575
Bulk Consumer Pumps
6,218
Source: Industry Data of IOCL;
All figures as on FYE 2012
Marketing - Sales
Rural Penetration : Contributing towards inclusive growth
N
o
.
o
f
K
S
K
s
c
o
m
m
i
s
s
i
o
n
e
d
d
u
r
i
n
g
t
h
e
y
e
a
r
KSK Sales (MS & HSD) - % of total IOC’s Sales (MS & HSD)
FYE 05 FYE 06 FYE 07 FYE 08 FYE 09 FYE 10 FYE 11 FYE 12
22
558
743
727
469
414
575
731
5.0
6.5
7.6
9.2
FYE 09 FYE 10 FYE 11 FYE 12
21
22
Marketing – Touching Billion Hearts
? Market leader with 46% market share and 52%
market share in terms of infrastructure
? 45% of the total volume from retail sales; highway
RO business accounts for more than 50% of the
retail business
? Sales through KSK network registered 32%growth in
MS and 28% in HSD – contribution of KSK outlets to
total sales increasedto 7.9%in MS and9.1%in HSD
? IndianOil’s share in the highly competitive lube
market increasedto 30.8%
? With the launch of brand Servo in Bahrain, the brand
has nowpresence in 20 countries
? IndianOil Aviation Service, with 61.8% market
share, maintained its leadership position in the
business
Source: Industry Data of IOCL;
FYE 10 FYE 11 FYE 12
65.4
67.9
71.4
4.5
5.0
4.3
Inland Export
Highest ever sales of 75.7 MMT
69.9
72.9
(
M
M
T
)
75.7
23
? Branded Products
? Branded Services
? Diversified range of core sector customers
? The turnover growth is insulated from the cyclical
demand fluctuations due to diversified customer base
Diversified
Customer
Base
Diversified
Products &
Brands
? Xtra Premium Petrol
? Xtra Mile Diesel
? Indane LPG
? SERVO Lubricants
Diversified Customer Base & Product Suite
? Railways
? Power House
? Fertiliser Plants
? Defence
? Aviation
? Coal
? Transport
? Kisan Seva Kendra ? Xtra Care Outlets
“ SERVO – India’s No. 1 lubricant brand “
Kisan Seva Kendra outlets for extending
rural reach
Retail Outlet at Boat house
24
? Commercializationof technologies
? INDMAX :For maximisation of LPG &light distillates fromRefineryResidue.
? Marine Oils : One of six companies to have developed “Original Equipment
ManufacturerApproved Marine TechnologyEquipment”
? Needle Coke :One of three companies in world that possess technology to make high
value needle coke
? Diesel Hydrotreating (DHDT) and Light Naphtha Isomerisation units commissioned at
BongaigaonRefineryto produce Bharat Stage IV complaint Diesel &Euro III/IV MS
? Wideninghorizons
? Newpetrochemical and polymer labs fullyfunctional
? MOU with the Department of Bio-Technolodgy to set up “Advanced Bio-energy
ResearchCentre”
? Commissionedfluidizedbed gasificationpilot
R&D Providing The Cutting Edge
25
? Lubricants
? 154 product formulations developed, 108 commercialized, 56 approvals obtained from
user Industries / OEMs
? In a first overseas business gain, Mauritius Shipping Corporation adopted indigenously
developed Servo Marine grades
? Patents
? Sixpatents grantedduringthe year
? Details of active patent
? Central Development Center at Faridabad
India USA Others Total
119 46 50 215
Lubes Refinery Others Total
42 101 72 215
R&D Providing The Cutting Edge
All figures as on FYE 2012
26
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
FYE 10 FYE 11 FYE 12
124 124
100
528
447
542
151
239
216
658
Polymers
Glycols
PX/PTA
LAB
938
1539
27
Spreading our Wings – Petrochemicals
Forward Integration into Petrochemicals
Key: LAB: Linear Alkyl Benzene; PTA: Purified Terephthalic Acid; NELP: New Exploration Licensing Policy; MEG: Monoethylene Glycol; DEG :
Diethylene Glycol
? 120 TMTPA capacity LAB plant
commissioned at Gujarat in August
2004
? 553 TMTPA capacity PX/PTA at
Panipat in J une 2006
? 857 TMTPA Ethylene and 650 TMTPA
Propylene capacity commissioned at
Panipat in 2010
Turnover
(Rs./crore)
3,734 6,087 11,839
2nd largest petrochemicals capacity share in the country
652
Sales (KT)
28
Spreading our Wings – E&P
Domestic Exploration Blocks
? NELP – 14 blocks with ONGC / OIL / GAIL / GSPC / Petrogas / HPCL /
HOEC / AWEL (15-100% participating interest)
? Coal Bed Methane – 2 blocks with ONGC (20% participating interest)
International Exploration Blocks
? Total 10 blocks- Libya(3), Iran (1), Yemen(2) , Nigera(1), Gabon (1) &
Venezuela (1), USA (1)
Backward Integration into E&P
Key: NELP: New Exploration Licensing Policy
29
Diversification to Other Energy Sources
? Gas sales of 1.72MMT in FYE 2012, Turnover grewby4.9%against previous year
? Operating City Gas Distribution (CGD) network with J V company Green Gas Ltd in Agra &
Lucknow
? ConsortiumwithAdani Gas Ltdto develop CGDnetwork on panIndia basis
? Settingup5 MMTPALNG regasificationandstorage terminal at Ennore
? Formed a consortium with Gujarat State Petronet Ltd, BPCL & HPCL to build three cross-
countrypipeline througha joint venture; IOC’s share at 26%
? On 6
th
April 2011 formed J V with Nuclear Power Corporation of India to establish (700*2)
MWnuclear plant at Rawatbhatta, Rajasthan. IOC’s Share 26%(Rs.961crore)
NUCLEAR
GAS
30
Diversification to Other Energy Sources
Wind Power, Biofuels & Solar Energy
? Commissioned21MWplant at Kachchh, Gujarat in J an09
? Second plant of 48.3 MW capacity consisting of 23 windmills under implementation in Andhra
Pradesh; out of 23, 8windmills commissionedin March’12
? Chhattisgarh Project: Subsidiary with Chhattisgarh Renewable Development Authority for
plantationof J atrophain 30,000hectare wasteland
? Madhya PradeshProject: IOC alloted2,000hectare wastelandfor J atrophaplantation
? UP Project: Formed LLP with Ruchi Soya Industries Limited with objective of J atropha
plantationon 50,000hectare wasteland
? Commissioned5 MWsolar plant in Rajasthan
? Solar plants at Retail Outlets / PLHO
? Solar Lanterns launchedin IOC’s state offices
SOLAR
Wind Power
BIOFUELS
•Aviation, terminaling and retail
•Leader in aviation
•24,000 Metric Ton capacity storage
Terminal at Port Louis
•18 retail outlets
IndianOil
Mauritius
Ltd.
(100% )
•Storage, terminaling and retail business
•157 retail outlets
•1/3
rd
share in Ceylon Petroleum Storage
Terminals Ltd
•Listed on Colombo Stock Exchange
Lanka IOC
Ltd.
(75.1% )
•Marketing of SERVO lube & petroleum
products in Middle East, Africa and CIS
countries.
•Exports finished lubes to Oman, Yemen
, Bahrain, UAE and Nepal.
IOC Middle
East FZE
(100% )
Overseas Downstream Marketing: Leveraging core competence
Overseas Presence
32
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
Financial Performance
Net Profit
Turnover
Net Worth
(INR / bn)
(INR / bn)
(INR / bn)
(INR./ bn)
411
440
506
553
579
200
300
400
500
600
FY08 FY09 FY10 FY11 FY 12
2,475
2,854
2,711
3,287
4,100
1,500
2,000
2,500
3,000
3,500
4,000
4,500
FY08 FY09 FY10 FY11 FY 12
70
30
102
74
40
0
25
50
75
100
125
FY08 FY09 FY10 FY11 FY 12
101
43
141
91
115
0
25
50
75
100
125
150
FY08 FY09 FY10 FY11 FY 12
PBT Before Exceptional Items
(1)
(1)
Before Entry Tax amounting to Rs.7708 crore in FY’12
33
Financial Performance
EBITDA
(INR / bn)
Pipelines EBITDA
26
29
33
35
40
FY08 FY09 FY10 FY11 FY 12
(INR./ bn)
143
113
189
163
216
FY08 FY09 FY10 FY11 FY 12
34
Financial Performance
361
424
402
387
354
75
62
81 109
209
200
300
400
500
600
FY08 FY09 FY10 FY11 FY 12
Liquid Investments
(1)
(INR Bn)
(x)
0.3
0.4 0.4
0.3
0.4
0.0
0.1
0.2
0.3
0.4
FY08 FY09 FY10 FY11 FY 12
0.9
1.0
0.9
1.0
1.30
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
FY08 FY09 FY10 FY11 FY 12
Total Debt to Equity
Core Debt to Equity
(x)
Note
(1) Liquid investments include Market Value of shares held in ONGC Ltd., GAIL (India) Ltd., OIL India Ltd., shares held in Trust formed for merger of IBP Co. Ltd. and Bongaigaon
Refinery & Petrochemicals Ltd and Special Oil Bonds & receivables from GoI in the form of oil bonds till FY’09; thereafter cash subsidy
Long Term Debt to Equity
Receivables from GoI
Investments
436
486
483 496
563
(x)
-0.2
-0.1
-0.1
0.1
0.33
-0.2
-0.1
0.0
0.1
0.2
0.3
0.4
FY08 FY09 FY10 FY11 FY 12
35
INR Crore
Compensation of Under Realization
“ Indian government has demonstrated a track record of adequately
compensating IOC for under-recoveries and ensuring that the
company achieves a reasonable level of profitability” – Moody’s
FYE 08 FYE 09 FYE 10 FYE 11 FYE 12 Apr-Dec
12
Gross Under-
realization
43,094 58,593 25,879 43,112 75,469 67,123
Upstream
Discount
14,323 18,210 7,548 16,704 29,961 24,327
Oil Bonds
18,997 40,383 - - - -
Cash
Compensation
- - 15,172 22,605 45,486 29,569
Net Under-
realization
9,774
(23%)
0.0
(0%)
3,159
(12%)
3,803
(9%)
22
(o%)
13,227
(20%)
Govt. Support
36
Infrastructure Base – A Phenomenal Growth
G
r
o
s
s
B
l
o
c
k
o
f
F
i
x
e
d
A
s
s
e
t
s
(
R
s
.
/
t
h
o
u
s
a
n
d
c
r
o
r
e
)
Gross Fixed Assets includes Capital Work in Progress
FYE 08
FYE 09
80
66
FYE 10
93
FYE 11
37
FYE 12
38
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Nine Months Snapshot
Ongoing Projects
Refining Operating Highlights
39
Q3 Q2 Q1 Apr-
Dec’12
Crude T’put
(MMT)
14.2 13.1 13.6 40.9
Capacity
Utilization (%)
103.4 96.3 100.8 100.2
Distillate Yield
(%)
78.4 78.6 77.6 78.2
GRM ( $/bbl) 6.15 5.15 (4.81) 2.22
Thruput (MMT)
Pipelines Operating Highlights
40
Q3 Q2 Q1 Apr-
Dec’12
Crude:
Thr’put
Capacity
Utilisation
11.9 11.5 11.6 35.0
115.6% 111.4% 113.0% 113.3%
Product:
Thr’put
Capacity
Utilisation
7.5 6.8 7.0 21.3
71.7% 67.1% 69.4% 68.9%
Total:
Thr’put
Capacity
Utilisation
19.4 18.3 18.6 56.3
93.4% 89.2% 91.3% 91.1%
Thruput (MMT)
Marketing Operating Highlights
41
Q3 Q2 Q1 Apr-
Dec’12
Inland 17.626 16.162 17.712 51.500
Export 1.133 0.766 0.855 2.754
Gas 0.453 0.429 0.451 1.333
Petro-
chemicals
0.472 0.470 0.405 1.347
Explosives 0.022 0.018 0.020 0.060
Total 19.706 17.845 19.443 56.994
Sales (MMT)
(MMT)
Financial Highlights
42
545
383
297
319
200
300
400
500
600
Q1 Q2 Q3 Current
Core Debt
PBT
-225
96
33
-95
-225
-175
-125
-75
-25
25
75
Q1 Q2 Q3 Apr-Dec' 12
(INR./ bn)
175
-39
-4
132
-50
0
50
100
150
Q1 Q2 Q3 Apr-Dec' 12
(INR./ bn)
Net Under - Recovery
909 906
949
850
700
800
900
1,000
Q1 Q2 Q3 Current
(INR./ bn)
Borrowings
(INR./ bn)
43
IOCL – An Overview
Oil Industry In India
IOCL’s Core Operations
Strategic Initiatives
Financial Performance
Ongoing Projects
Nine Months Snapshot
44
Petrochemi c
al s, 145
Refining *,
8355
Marketi ng,
230
Pi pel i nes,
960
others, 311
TOTAL CAPEX Outlay :
Rs.10,000 crore
* Includes refineries’ capacity additions, yield & quality improvement
** Includes R&D and diversifications such as LNG and E&P etc.
Plan Capex Outlay: 2012-13
Capex Outlay
INR crore
2011-12 2012-13*
Plan Expenditure
11,073 10,000
Non Plan Expenditure
3,402 5,479
Total
14,475 15,479
* Budgeted Estimate
Capital Expenditure
Major ongoing projects
Projects-Refinery
Anticipated Outlay
(INR crore)
Objective
Anticipated
Completion
Paradip Refinery 29,777
To meet domestic demand & export of surplus
product
Sep-Nov ‘13
Fluidized Catalytic Cracking Unit at
Mathura Refinery
1,000
To increase processing capacity of unit from 1.3 to
1.5 MMTPA & maximize production of value added
propylene
July’ 13
Butadiene Extraction Unit at Panipat 342
Designed to produce 138 MTPA of Butadiene to be
used as feedstock for SBR project at Panipat
Feb’13
Total :
31,119
Projects-Pipelines
Anticipated Outlay (INR
crore)
Capacity
Anticipated
Completion
Paradip-Sambalpur-Raipur-Ranchi pipeline 1,793 5 MMTPA
To be revised due to
non-receipt of forest
clearance
Debottlenecking of Salaya-Mathura crude pipeline 1,584 4 MMTPA
30 months after
statutory clearance
Integrated crude handling facilities at Paradip* 1,492 37 MMTPA Mar’13
Tanks and Blending facilities at Vadinar 267 425000 KL Feb’13
Paradip-Haldia-Durgapur LPG pipeline
913 0.85 MMTPA
30 months after
statutory clearance
Augmentation of Paradip-Haldia-Barauni Pipeline
586 4.2 MMTPA
Total :
6,635
45
* Included in the cost of Paradip Refinery
Thank You
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