Indian Oil Corporation (IndianOil) has been ranked as the third strongest brand in the country in a recent brand survey by Brand Finance of UK.
Basis its performance on various parameters such as marketing investment, stakeholder equity and business performance, IndianOil has been assigned a Brand Strength Index (BSI) score of 84.6 out of 100, making it the strongest oil & gas brand in the country. IndianOil registered a huge improvement this year as compared to its previous score of 77.2 last year.
Brand strength is the efficacy of a brand's performance on intangible measures and showcases the relative strength of various brands based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation. Alongside revenue forecasts, brand strength is a crucial driver of brand value.
The annual report on Indian brands was published by Brand Finance, a London-based independent branded business valuation and strategy consultant. Every year, Brand Finance values 5,000 of the world's biggest brands. The 100 most valuable Indian brands are included in the 'Brand Finance India 100 2019' ranking.
With a 33,000-plus work-force, extensive refining, distribution & marketing infrastructure and advanced R&D facilities, lndianOil has in the past six decades provided energy access to millions of people across the length and breadth of the country through its ever-expanding network of customer touch-points, currently numbering over 50,000.
With a turnover of Rs. 6, 05,924 crores and a net profit of Rs. 16,894 crores for the fiscal 2018-19, IndianOil is one the largest corporates in the country.