IndianOil - Ratings
New Delhi   24-Dec-2007
IndianOil was formed in 1964 by the merger of Indian Refineries (1958) and Indian Oil Company (1959). IndianOil is India's largest company by sales and controls 10 of India's 19 refineries. Its refining capacity is 60.2 mmtpa or 1.2 million barrels per day the largest share among refining companies in India. It accounts for 40.4% of the national refining capacity. IndianOil also has a cross-country pipeline network of nearly 9,300 km length and 61.72 mmtpa capacity. IndianOil is on its way to, becoming a major player in petrochemicals, besides making large investments in exploration and production (E8-P) and import/marketing ventures for oil and gas in India and abroad. IndianOil has outlined ambitious growth plans with an outlay of about Rs 45,000 crore for capacity augmentation, de-bottlenecking, bottom and quality upgradation. In addition, petrol quality up gradation projects are underway at Panipat, Mathura, Barauni, Guwahati and Digboi refineries and are expected to be completed by the end of '09. In-principle approval of the company's Board to set up a 15 - mmtpa grassroots refinery integrated with petrochemicals units (paraxylene, propylene and styrene)at Paradip (scheduled to be completed by October' 11) has been obtained and the detailed feasibility report is under preparation. During FY07, the company's consolidated net sales grew by 24% to. Rs 2, 01,500 crore, while net profit grew by 47% to Rs 6,690 crore. In HI FY08, its standalone net sales grew 2.5% to Rs 1, 09,000 crore. Net profit rose25% to Rs 5,290 crore, buoyed by higher operating EBITDAmarginat6% (2.4% inHIFYO?).