IndianOil posts stellar operational performance & CAPEX numbers in FY 2022-23
New Delhi 03-Apr-2023
IndianOil has posted stellar operational performances in the recently concluded Financial Year 2022-23. Commenting on the performance, Mr S M Vaidya, Chairman, IndianOil, said, "Despite challenging geopolitical situations, what stood out was our teams' perseverance and the determination to rise above every challenge thrown at us. Our unwavering commitment to excellence has paid off, and IndianOil continued to shine bright on the operational front".
As shared by Mr S M Vaidya, Chairman, IndianOil, IndianOil Refineries clocked the highest-ever throughput of over 72.4 Million Metric Tonnes, compared to 67.67 Million Metric Tonnes last year. IndianOil's liquid Pipelines throughput jumped significantly from about 83.25 MMT in 2021-22 to the highest-ever 94.7 MMT during 2022-23. IndianOil also registered the highest-ever pipeline expansion of about 2,450 Kilometers during the year.
On the Marketing front, IndianOil has achieved a POL Sales growth of about 14% year-on-year. Its petroleum products market share increased from 40.8 % in 2021-22 to 42.9% in 2022-23. The petrol sales have grown by over 19.2%, our diesel sales have increased by nearly 19.3 %, and our LPG sales have risen by about 1%. IndianOil's lubricant brand SERVO registered its highest-ever sales volume of 701 TMT with a growth of 9% during 2022-23 after a spectacular 24% rise during 2021-22 and 26% growth in 2020-21. This translates to a market share rise from 24.9% in 2020-21 to 27.1% in 2022-23, thus cementing SERVO's stronghold across all lube segments in India. IndianOil's Grease sales also registered a growth of about 8% in the last financial year.
Expansion of the marketing network has also been a firm focus area for IndianOil. During 2022-23, the company commissioned 1784 Outlets, about 46% of PSU commissionings. The IndianOil Fuel Station Network now has 36,285 outlets spread across the length and breadth of the country. Last year, IndianOil also commissioned five Aviation Fuel Stations taking the total to 132; Seven Indane Bottling Plants, taking the total to 108; and three Depots & Terminals taking the total to 120.
In addition to IndianOil's stellar operational performances, the company has also delivered impressive results on the CAPEX utilization front. IndianOil has spent an all-time high amount of Rs 35,205 crores on investments, which is 123% of the allotted target. The company has invested Rs 34,388 crores in its own projects and Rs 817 crores in joint ventures and subsidiaries. The company is currently overseeing 120 ongoing projects of various scales, with a total capital cost of around Rs 2.4 lakh crore. These investments reflect IndianOil's commitment to achieving sustainable growth and strengthening its position in the Indian market.
Dr. Uttiya Bhattacharyya
Executive Director (Corporate Communications)
Indian Oil Corporation Limited
