Indian Oil Corporation Limited
Loading Annual Report 2020-21

Welcome to IndianOils's Integrated Annual Report 2020-21

This is IndianOil’s Integrated Annual Report for the year ended March 31, 2021. IndianOil’s aim in producing this report is to provide a comprehensive and detailed overview of the Company’s operations, strategy, and performance. In this report, we look at the trends and challenges in our business, at our strategies, and at how we create value through a responsible approach towards business.

About the Report

Introducing IndianOil

Taking the Lead to Fuel India’s Energy Needs

Indian Oil Corporation Limited (IndianOil) is the country’s largest integrated and diversified energy company. IndianOil’s presence across the entire hydrocarbon value chain allows it to create sustainable business outcomes.

Today, IndianOil accounts for the largest market share of India’s petroleum product consumption. As a ‘Maharatna’ company, we address the multiple energy needs of the nation with our integrated business model, leading from the front as a responsible energy major.

Governance Structure

IndianOil endeavours to uphold the principles and practices of corporate governance to ensure transparency, integrity and accountability in its functioning. These are vital to achieve our vision of becoming the ‘Energy of India’ and a globally admired company.


Statutory Board committees


Other Board committees


Average attendance across all meetings


Meetings held(Board and Statutory Committees)

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Chairman along with Functonal Directors of IndianOil

Chairman’s Message

The last financial year has been a perfect guide in demonstrating the importance of team-resolve in tiding over challenges...Your Company not only surmounted the pandemic crisis, but it also rose to the occasion to thwart major threats and chart new paths of excellence.

Shrikant Madhav Vaidya
Chairman, IndianOil

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Risk Management

In line with our Enterprise Risk Management (ERM) policy and integrated assurance methodologies, we have established processes and practices across our organisation that enable us to proactively identify, analyse and mitigate risks that might impact our operations. We believe risks are multi-dimensional and, therefore, need to be addressed in a holistic manner, considering the changes in the external environment and robustness of our internal processes.

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Our Approach

Our Business Model

To thrive in a dynamic environment, we are consistently adopting an agile and strategic approach to maximise value creation for stakeholders across business verticals. Resting on our core competencies and years of experience, we are adequately prepared to carry forward a legacy of growth and success.

See the model