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IndianOil leads India Inc. in Fortune's 'Global 500' listing for 2009
In a befitting acknowledgement of its ever-improving performance, and a crowning glory in its Golden Jubilee Year (1959-2009), IndianOil has moved up 11 places, in the just-released Fortune 'Global 500' list of world's largest companies by sales for the year 2009. Placed at 105, IndianOil leads the pack of seven Indian companies appearing in the list that is based on the performance in of the year 2008, all made possible by a 35000 - strong team of IndianOilPeople.
IndianOil has been consistently improving its position in the elite list published annually by the CNN-Time Warner group magazine, Fortune. In the ‘Global 500' club, IndianOil has steadfastly climbed from 226 in the year 2002 to 191 in 2003, 189 in 2004 to 170 in 2005, 153 in 2006, 135 in 2007, 116 in 2008 and now 105 in 2009. Fortune magazine has considered IndianOil’s revenue for the fiscal 2008-09 and has derived the same at US$ 62.993 billion (excluding excise duties). This is the 7th year in succession that IndianOil has improved its ranking.
IndianOil has also maintained its leadership status as India's numero uno corporate in the prestigious listing, followed by Tata Steel (258), Reliance Industries (264), Bharat Petroleum (289), Hindustan Petroleum (311), State Bank of India (363) and Oil & Natural Gas Corporation (402).
Amongst the petroleum companies in the world, IndianOil’s rank is 20.
Battling odds in a challenging business environment, India's No.1 commercial enterprise and flagship oil major, IndianOil notched up another year of sterling performance for fiscal 2008-2009. IndianOil’s gross turnover (inclusive of excise duty) for the year 2008-09 reached a new high of Rs. 2,85,337 crore up by 15.3% as compared to Rs. 2,47,457 crore in the previous year. The Profit after Tax was Rs. 2,950 crore. The Corporation's refineries surpassed 100% capacity utilisation and clocked the highest ever throughput of 51.4 million tonnes. The Corporation also achieved record sales of 62.6 million tonnes (including 1.7 million tonnes of Gas). Breaching the 10,000 km mark in length, the pipelines network registered the highest-ever operational throughput of 59.5 million tonnes of crude oil and petroleum products.
IndianOil's leap forward in the oil & gas sector, with a well laid-out road map through vertical integration - upstream into oil exploration & production (E&P) and downstream into petrochemicals - and diversification into natural gas marketing, besides globalisation of its downstream operations, represents the growth of the Indian corporate sector as well, thus carving a niche for itself in the global arena.
For the past 15 years, the 'Global 500' has been the premier list of the world's largest companies. And 2009 is no exception except the bar has been set higher to make it to the list. It is one of the best snapshots of the business world today.
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| Updated on July 10, 2009 |
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