Indian Oil Corporation Limited
Loading Annual Report 2020-21

Social and Relationship Capital

At IndianOil, we forge lasting relationships with a wide range of stakeholders including customers, suppliers, business partners, investors, the Government, regulatory bodies and the society at large. We believe in actively engaging with stakeholders to address their specific concerns and deliver long-term solutions.

Material issues addressed

  • Widen our offerings across the hydrocarbon value chain
  • Contribute towards empowering lives in local communities
  • Create an ecosystem to contribute towards ‘Make in India’ and ‘Aatmanirbhar Bharat’ missions


Given the diverse nature of our business, we serve a wide range of customers, right from individuals and households to industrial consumers and institutional consumers in domestic and international markets. At IndianOil, we strive to fulfil the energy requirements of the nation through a diverse portfolio of products and services.

During the year under review, we continued to integrate our digital platforms and technologies, such as Customer Relationship Management (CRM) portal and chatbots, to serve our customers better. We also leveraged various social media platforms to connect with our customers, create awareness about our products and gain insight about their needs and requirements.

We also associated with third-party agencies to conduct customer feedback surveys and gain independent reviews. Further, we leveraged our vast network of dealers and sales staff across the country to regularly stay in touch with our customers. It allowed us to gather meaningful insight into customer requirements, expectations and feedback. These enabled us to further improve our operations and introduce new and improved products.

At IndianOil, we generally conduct customer meets at regular intervals. Owing to the pandemic, however, they were not conducted this year. Nonetheless, we remained connected with our customers through e-mails, phone calls and virtual meetings, and extended necessary support and assistance to them.


of customer / consumer complaints successfully resolved during the year

At IndianOil, we recognise the contribution of our customers in our growth journey. To acknowledge the same, we celebrated Customers Day on January 9, 2021. Our officers visited our bulk customers and conveyed our appreciation to them for being an integral part of our success and assured them the best services.

Suppliers and business partners

Our suppliers and business partners play a vital role in supporting our efforts to ensure uninterrupted fuel supply for millions of customers daily. We strive to conduct our business in an ethical, responsible and transparent manner. IndianOil closely works with various small and big suppliers and business partners, across the value chain. We align our practices with the Government of India’s vision of ‘Aatmanirbhar Bharat’ and therefore, source material and services from local vendors and suppliers.

During these challenging times, we maintained a strong connect with our suppliers and business partners and extended necessary help, as and when required. On a regular basis, we also conducted vendor engagement programmes to ensure smooth and efficient communication with them. Important information related to the requirement of materials in the near future and relevant policy changes were conveyed to them, along with a clear communication of mutual expectations and ways to overcome challenges.

Further, we launched an e-site for suppliers and business partners to help them gather information about our requirements. Likewise, we also launched an e-site to understand their challenges and grievances, and to address their queries. These initiatives enabled us to further strengthen our relationship with suppliers and business partners, creating the foundation for mutual trust and shared success.


vendor engagement programmes conducted in 2020-21 for MSME vendors


vendor engagement programmes conducted exclusively for SC/ST and women entrepreneurs in 2020-21

Investors and shareholders

Our ability to deliver operational excellence is supported by our strong financial performance and our ability to create value for our shareholders. Our track record of fulfilling financial targets on time, issuance of bonus shares from time to time and high dividend pay-out for our shareholders on a year-on-year basis, stand as a testimony to our value creation philosophy.

We also constantly strive to maintain a strong corporate governance framework and improve disclosures and communication to help stakeholders understand our business model, strategies and performance parameters. We engage with our shareholders and investors through press releases, press conferences, concalls and direct communication through emails. The investor section of the corporate website also provides valuable information. We have also established a dedicated Investor service cell to swiftly address grievances and/or queries of our share and debenture holders.


shareholder grievances resolved
or addressed in 2020-21


dividend pay-out ratio
in 2020-21

₹ 86,469 Crore

market capitalisaton as on March 31, 2021

₹ 11,017 Crore

market capitalisaton as on March 31, 2021

Government and industrial bodies

Our association with the Government and various industrial bodies go well beyond compliance. We partner with them to strengthen the country’s energy security, develop and propagate clean energy. Through our operations, we contribute and promote various government initiatives, such as ‘Aatmanirbhar Bharat’, ‘Swachh Bharat Abhiyan’ and the Pradhan Mantri Ujjwala Yojana (PMUY). We also encourage procurement from MSMEs and aim to increase the share of natural gas in India’s energy mix to 15% by 2030, aligning with the Government of India’s vision of promoting clean energy.

₹ 2,38,786 Crore

contribution to exchequer in 2020-21


At IndianOil, our community outreach programmes and initiatives are aimed at the socio-economic development of local communities. We seek to empower and assist underprivileged sections of communities and address their needs and concerns. To fulfil this objective, we partner with Government agencies and other organisations to create meaningful change in people’s lives.

An IndianOil retail outlet run by Indore Central Jail Kalyan Samiti, has jail inmates as Customer Attendants

Bandicoot robotic machine handed over to eliminate manual scavenging of sewers

Cleaning of Bindu Sagar Lake, largest water body in Bhubaneswar

Human Milk Bank established at govt. hospitals, Dharampuri, Tamil Nadu

Paddy Scheme by SERPL to reduce water usage & improve rice productivity in Tamil Nadu

Bongaigaon Refinery’s drinking water project at an Indo-Bhutan village

Hon’ble Chief Minister of Gujarat launching rainwater harvesting system initiated by IndianOil Gujarat Refinery

Key Highlights of 2020-21:


spent towards CSR activities (₹ in Crore)


educational activities organised


healthcare & nutrition activities undertaken


economically disadvantaged students benefitted


villages and towns covered

~125 Lakhs

People benefited from our CSR activities

Our fight against Covid-19:

At IndianOil, we remain truly committed to our motto: ‘Pehle Indian Phir Oil’. In challenging times, we stood united together to serve our country in every possible way. We also leveraged our extensive network to provide support and assistance to the socio-economically weaker sections.

Impact created

~18 Lakhs

masks distributed

Fuel for


flights provided for people stranded in different countries

Uninterrupted operation

of defence, cargo, repatriation flights, air ambulances and Vande Bharat Mission flights

At every

50 Km

intervals on highways, grocery/food packets provided for drivers

₹ 225 Crore

IndianOil’s contribution to PM-CARES fund, under CSR

~1.5 Lakhs

bottles of sanitisers distributed

~ ₹ 36 Crore

spent on medical equipment, including testing kits, PPE kits, ventilators and ICU beds during Covid-19

40 Lakhs

food packets distributed to migrant labourers through our retail outlets