Indian Oil Corporation Limited
Loading Annual Report 2020-21
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As one of India’s largest commercial enterprises, we are deeply connected to the environment in which we operate and the communities we serve. Our ability to create and deliver value is dependent on the relationships we build, the contributions we make and the support we provide to our stakeholders. We believe an effective dialogue with stakeholders enables us to drive innovation and deliver positive transformation.
The Investor and shareholder community provides us access to equity and debt fund. They also drive demand for our shares, thereby impacting our market capitalisation.
We strive to provide sustainable return on investments to the providers of financial capital through dividend payment, share price appreciation, capital and interest payment. We also ensure proper disclosure of sustainability KPIs, and financial and non-financial factors that provide valuable information to investors.
SDGs Covered
Serving our customers is a primary concern that drives our brand. Their constant demand for our products and services enables us to generate healthy revenues. Further, we develop new products and services based on their needs and evolving industry dynamics.
We constantly create value for our customers through continuous supply of petroleum products and cater to market aspiration by continuously offering novel products and services. Even during the pandemic, we delivered services at fuel stations and addressed consumer complaints and issues in a timely and transparent manner. We also provide timely and doorstep service for our B2B clients.
SDGs Covered
Our employees possess the required skills and expertise for core operations and supporting business processes. They are our growth enablers, ensuring sustainable performance and value creation.
At IndianOil, we recognise our role as a responsible employer to provide a diverse, inclusive and rewarding working environment. We organise various training and development programmes for new and existing employees, while encouraging internal hiring and promotion.
SDGs Covered
Government and Regulatory Bodies formulate laws and regulations that we must comply with, while conducting our daily activities. They provide regulatory disclosure frameworks that provide confidence to our other stakeholders.
Our financial contributions, such as tax payments, licence fees and investment in infrastructure development, contribute towards India’s economic growth. We also align our activities with government initiatives such as ‘Make in India’ and ‘Aatmanirbhar Bharat’. Robust engagements with Government and regulatory bodies enable us to participate in national and international policy formulation and establishment of regulatory frameworks, utilising our technical expertise and industry experience.
SDGs Covered
To supply superior quality products and services to our customers, we strengthen relationships with our business partners. They underpin our value chain and directly influence our ability to ensure timely supply of products & services. They also influence our ability to meet the needs and expectations of our customers.
We support our business partners in reducing their carbon footprint through automation and green energy solutions. We also support local employment through engagement with local contractors. Further, we undertake services from our business partners at fair terms, allowing individual businesses to grow and expand.
SDGs Covered
Communities form an integral part of our social existence and we have a responsibility to contribute to the socio-economic needs of the regions where we operate.
At IndianOil, we are committed to generating economic value that uplifts the community by addressing its needs and challenges. We constantly work towards minimising our environmental footprint and generating sustainable profit to support innovation. Through our CSR intervention, we focus on ‘providing safe drinking water and protection of water resources’, ‘healthcare and sanitation’, ‘education and employment enhancing vocational skills’, ‘rural development’, ‘environmental sustainability’ and ‘empowerment of women and socially/ economically backward groups’.
SDGs Covered
IndianOil, shaping India’s young minds for a better tomorrow
© 2021 - Indian Oil Corporation Limited | Integrated Annual Report 2020-21
