xyz company presentation - indian oil corporation ltd. · 33 reflections, 2006-07 during the year,...

Bankers’ MeetMumbai, 17th August 2007

11

Agenda

Reflections, 2006-07

Oil Industry Overview

Company Overview

Review of Operations

Financial Overview

Strategic Initiatives

Group Companies



Company Overview


Financial Overview


Group Companies

22


Crude oil market remained highly volatile:

touched all time high of USD 78/bbl in Aug 06 mainly due to geopolitical disturbances and strong global demand

softened upto USD 50/bbl levels in Jan 07 mainly due to unusually warm winter in the Northern Hemisphere and huge fund liquidation in the paper market

started rising again due to growing demand and touched a level of USD 69/bbl in March 07

Rupee appreciated sharply after initial depreciation due to huge inflows

Continued under realization by downstream oil companies

33


During the year, IndianOil…

Achieved highest ever Turnover of Rs. 220,779 crore

Achieved highest ever Net Profit of Rs. 7,499 crore

IBP merged on 2nd May 07 w.e.f. 31st March 07

Expansion of Panipat refinery from 6 to 12 MMTPA in Aug 06

Commissioning of Px/PTA plant at Panipat refinery in Aug 06

BRPL merger approved by the Board in Nov 06 ; Govt approval awaited

44

Agenda



Company Overview


Financial Overview


Group Companies



Company Overview


Financial Overview


Group Companies

55

Oil Industry Overview: India

Oil & Natural Gas Corporation Ltd.

Oil India Ltd.

Indian Oil Corporation Ltd.

. Chennai Petroleum Corporation Ltd. (Pure Refining)

Bongaigaon Refinery & Petrochemicals Ltd.

UPSTREAM(Exploration &

Production)

ONGC Videsh Ltd.

Reliance, Cairn Energy, HOEC, Premier Oil

DOWNSTREAM(Refining,

Marketing & Pipelines)

Hindustan Petroleum Corporation Ltd.

Bharat Petroleum Corporation Ltd.

Numaligarh Refinery Ltd. (Pure Refining)

Mangalore Refinery & Petrochemicals Ltd.*

Reliance Industries Ltd./ Essar Oil Ltd./ Shell(Gas Transport &

Distribution) GAIL (India) Ltd. * Subsidiary of ONGC

66

Demand For Petroleum Products: India

104108

120

113112109

118

123 124

140

75

100

125

150

FY03 FY04 FY05 FY06 FY07*

C o nsump t ion Prod uct io n

MMT

Over the last 4 years, consumption and production have grown at CAGRs of 3.58% and 6.53% respectively

Source: Consumption & Production from Petroleum Planning & Analysis Cell, Ministry of Petroleum & Natural Gas, Govt. of India

Consumption figures excluding Gas; * Provisional

77

Oil Industry – Recent Developments

Dr Rangarajan committee report on Pricing & Taxation implemented partially

Rationalization of duties

Pricing of products at Trade Parity (MS / HSD)

Periodic revision in prices

Continuation of under recovery sharing by

Upstream companies

Subsidy from Government

Special Oil Bonds – Rs 24,121 crore of Special Oil Bonds issued during FYE 07, IOC received Rs 13,943 crore

Petroleum Regulatory Board commenced functioning

FDI in PSU refining sector allowed to 49% (against 26% limit) for Bathinda Refinery

88

Government Of India’s InitiativesFor Downstream Companies

Rationalization of Excise and Custom DutiesBasic Custom Duty Rate Basic Excise Duty Rate

April 1, 2002 Present April 1, 2002 Present

Crude Oil 10% 5%

Motor Spirit (MS) 20% 7.5% 16% 6% + Rs. 5/Liter + 1

High Speed Diesel (HSD) 20% 7.5% 16% 6% + Rs. 1.25/Liter + 2

Super Kerosene (PDS) 10% - 16% -

LPG (Domestic) 10% - 16% -

As a member of the WTO, India has been rationalizing its duty structure in line with international standards

Over the last five years, peak custom duty has declined from 35% to current levels of 10%

1 Special additional excise duty of Rs. 6/liter plus additional excise duty of Rs. 2/liter2 Additional excise duty of Rs. 2/liter

99

Agenda

Introduction



Company Overview


Financial Overview


Group Companies

Introduction



Company Overview


Financial Overview


Group Companies

1010

Overview Of Operating Structure

1111

Company OverviewIndia’s largest commercial enterprise with leading market shares in downstream segment of Oil business

Highest ranked Indian corporate in Fortune’s list of World’s 500 Largest Companies (#135)

20th largest petroleum company in the world – Fortune Global 500

Maintains highest local currency long-term debt rating LAAA and AAA from ICRA & Fitch Ratings respectively

Foreign Currency Rating of Baa2 (Stable) from Moody’s, BBB-(Stable) from S&P, BBB- (Stable) from Fitch Ratings

India’s ‘No. 1 Corporate’ in annual listing of Business Standard (BS 1000), Business India (BI Super 100) and Economic Times (ET 500)

Winner of prestigious technology awards :“Fastest Time to Implement/ Deploy” SAP award for Customer Excellence & “Indian Express Uptime Champion” award for IT Infrastructure at Corporate Data Center

1212

E&PE&PForays in Forays in India & India &

overseasoverseas

PetroPetro--chemicalschemicalsOperational Operational

Lab & Lab & PxPx/PTA /PTA PlantsPlantsGasGas

Sourcing & Sourcing & Marketing Marketing

IntInt’’l Opsl OpsGrowing Growing

presence in presence in downstream downstream

marketingmarketing

Marketing Marketing MktMkt share of share of

45%; 45%; 55% of Industry 55% of Industry infrastructure infrastructure

Pipelines Pipelines 9273 9273 KMsKMsPipelines Pipelines (crude & (crude & product)product)

RefiningRefining10 Refineries; 10 Refineries; refining share refining share

of 40%of 40%

Leadership in all spheres of downstream operations

Key:

LAB – Linear Alkyl Benzene

PTA – Purified Terephthalic Acid

PX – Paraxylene

Ubiquitous Presence

All figures as on March 31, 2007

1313

Downstream Dominance

IndianOil40%

BPCL15%

HPCL9%

ONGC7%

RIL22%

Essar7%

IndianOil45%

BPCL19%

HPCL16%

Others20%

BPCL7%

HPCL16%

PIL30%

IndianOil47%

Refining148.97 MMT

Product Pipelines57.67 MMT

Market Size120 MMT *

Note: Numbers indicate total domestic market size in each of the segments for IndianOil GroupAll figures as on March 31, 2007* Excluding gas; Provisional

Key:

BPCL – Bharat Petroleum Corporation Limited

HPCL – Hindustan Petroleum Corporation Limited

ONGC – Oil and Natural Gas Corporation Limited

PIL – Petronet India Limited

RIL – Reliance Industries Limited

1414

Shareholding Pattern*

It is the Government’s stated intention to maintain a majority shareholding in IOC due to its strategic importance to India’s

energy and socio-economic development

GOI80.35%

Insurance Companies

3.18%

Others #7.54%

ONGC8.93%

* As on 30th June 2007

# Others include:

Institutions

Mutual Funds, FIs, Banks etc : 3.27%

Non-Institutions:

Individuals : 2.82%

Others : 1.45%

1515

Agenda



Company Overview


Financial Overview


Group Companies



Company Overview


Financial Overview


Group Companies

1616

Refining: Overview

As of March 31, 2007

Key Facts

Controls 10 refineries with 60.20 MMT capacity - 40% of India’s total refining capacity

56% of total capacity caters to Northern/Western regions –high demand & growth areas

All refineries linked by crude pipelines - Low Transportation cost (Crude oil pipelines of 3987 KM with 34.50 MMT capacity)

All refineries linked by product pipelines - Most cost effective evacuation system

Potential for brown field expansions in least amount of time

MumbaiVizag

Chennai

Cochin Narimanam

Bongaigaon

Mangalore

Panipat

Guwahati

Haldia

Barauni

Mathura

Koyali

Digboi

Paradeep

Bina

Bhatinda

IndianOilExisting

Proposed

Subsidiary Cos.

Other CompaniesExisting

Proposed

IndianOilExisting

Proposed

Subsidiary Cos.

Other CompaniesExisting

Proposed

Jamnagar

Tatipaka

Numaligarh

1717

Refining: Annual Operating Highlights

44.00

38.52

30

32

34

36

38

40

42

44

46

FY06 FY07

98.34

93.15

70

75

80

85

90

95

100

FY06 FY07

72.50

72.00

70

71

71

72

72

73

73

FY06 FY07

Refinery Throughput(MMT)

Distillate Yield(%)

Capacity Utilization(%)

Strategic inland refinery locations with most effective supply and evacuation system through pipelines

All refineries meet product specification requirements in line with environmental regulations

1818

Refining: April - June 07 Highlights

12.02

10.03

8

10

12

14

Apr-Jun 06 Apr-Jun 07

101.56

97.02

75

80

85

90

95

100

105


73.30

71.30

66

68

70

72

74


Refinery Throughput(MMT)

Distillate Yield(%)


Surpassing Performance Continues

1919

Refining Performance

Key Facts

Record high crude oil throughput of 44.00

MMT in FYE 2007

Annual Capacity utilization of 98.34%;

highest in the last 7 years

Refineries accounted for about 35% of

IndianOil’s earnings for FYE 2007

Margin enhancement opportunities through

stream sharing and improving crude/supply

logistics

Highest ever GRM in Apr-Jun 07

Gross Refining Margins $/bbl

10.7

6.7

4.24.6

6.2

5.3

4.1

0

2

4

6

8

10

12

FY03 FY04 FY05 FY06 FY07 Apr-Jun 06

Apr-Jun 07

2020

Pipelines: Overview

Key Facts

9,273 kilometres Of crude / product pipelines with a total capacity of 61.72 MMT

Owns approximately 67% of India’s total throughput capacity (downstream)

Provides low cost crude transportation to all of the Company’s refineries

Low cost evacuation systems linked to all refineries

Two Single Point Mooring* near Vadinar

Panipat

Guwahati

Koyali

Haldia

Mathura

BarauniKanpur

Bhatinda

Kandla

Vadinar

Chaksu

Ahmedabad

Jalandhar

Jodhpur

BudgeBudge

Kot

DelhiBongaigaonSiliguri

Meerut

Sidhpur

Digboi

Tinsukia

Chennai

Navagam

Tundla LucknowSanganer

Maurigram

Rajbandh

NajibabadRoorkee

Ambala

Sangrur

Rewari

Ajmer

Chittaurgarh

Dahej

Sankari Asanur

Trichy

Madurai

Paradip

Mundra

ProductCrude Oil

IOC’ s Pipelines (Existing)

ProductCrude Oil

IOC’ s Pipelines (On- going)

Ratlam

Bangalore

As of March 31, 2007* Crude oil is transported from ships to the shore using a single point mooring, which resides in the sea and has submarine pipelines connected to it

2121

Pipelines: Annual Operating Highlights

93.27

76.31

6266

70747882

869094

FY06 FY07

18.01

19.26

32.4327.34

16

20

2428

32

36

4044

48

52

FY06 FY07

Crude Product

45.35

51.69


Pipelines Throughput(MMT)

Highest ever throughput achieved by IndianOil’s pipelines in FYE 2007

2222

Pipelines: April - June 07 Highlights

Pipelines Throughput(MMT)


98.16

88.60

72

76

80

84

88

92

96

100

Apr - Jun 06 Apr - Jun 07

4.63

5.37

7.089.23

3

6

9

12

15


Crude Product

11.71

14.60


2323

Marketing Infrastructure

LPG Distributorships

4,996 (53%)

Consumer Pumps6,788 (88%)

LPG Bottling Plants

90 (50%)

Retail Outlets, 16,455 (47%)

Aviation Fuel Stations

97 (75%)SKO/LDO

Dealerships 3,955 (60%)

Terminals/Depots177 (47%)

IndianOil Group: 32,558 marketing touch points55% share of industry

As of March 31, 2007Figures in ( ) indicate % share in industry

2424

Marketing: Annual Operating Highlights

51.96 54.84

2.093.13

FY 06 FY 07

Inland Export

54.05

(IN MMT)

Fueling the booming Economy Dominant market share held by IndianOil Group: 45%

57.97

5.5%

49.8%

Figures of IOC Group including Gas

2525

Marketing: April - June 07 Highlights

13.4714.68

0.80

0.93


Inland Export

14.27

(IN MMT)

15.61

9%

15%


Figures of IOC Group including Gas

2626

Research and Development Center

A premier R&D Institute in India with a focus on:Commercializing the developed technologiesInitiating research in new frontiers such as petrochemicals, residue gasification, coal-to-liquid, gas-to-liquid, alternative fuels, synthetic lubricants, nano-technology etc.

Commercialization of in-house technology during FYE 07 :INDMAX : Technology selected for 4 MMTPA unit as a part of 15 MMTPA Paradip Refinery and also for Bongaigaon Refinery

Diesel Hydro treating technology: licensed to Paradip & Bongaigaon Refineries

JV with InterCat of USA for manufacture of FCC Catalyst and Additives

Development & deployment of a 12-inch instrumented ‘pig’ for use in gauging cross-country pipelines in collaboration with Bhabha Atomic Research Center

During FYE 07, 180 new & cost effective product formulations developed; 164 commercialized (till FYE 07, 2300 formulations developed, 604 commercial grades available)

Commissioned India’s first Hydrogen-CNG dispensing station

Indalin+ technology for conversion of Naphtha / condensate to LPG / MS

2727

Agenda



Company Overview


Financial Overview


Group Companies



Company Overview


Financial Overview


Group Companies

2828

Summary Balance Sheet

Rs / Crore

67,320

9,508

19,998

37,814

67,320

5,380

27,083

34,857

31.03.07*

64,322

8,107

17,870

38,345

64,322

5,405

22,591

36,326

30.06.2007*

4,423Deferred Tax Liability

60,130Total

26,404Loan Funds

14,526Investments

34,740Net Fixed Assets

31.03.06

60,130

10,864

29,303

Total

Working Capital

Application of Funds

Shareholders’ Funds

Sources of Funds

* Include erstwhile IBP

2929

Financial Highlights

0.73:1

-

11.09

1,322 #

53,142

Apr-Jun 06*

0.78:1

2,251

190

62.90

7,499 # @

220,779

2006-07*

0.90:1

1,460

125

42.08

4,915 #

183,172

2005-06

Rs / cr

%

Rs

Rs / cr

Rs / cr

Unit

0.62:1D/E Ratio

-Dividend

12.32EPS

1,468PAT

58,205Turnover

Apr-Jun 07*Parameter

#PAT includes Capital gain of Rs. 438 Crore on sale of IOC’s 50% stake in GAIL in March 2006 & Rs. 3,225 crore on sale of IOC’s 20% stake in ONGC in April 06;

@ PAT includes Rs 1,319 crore provision for diminution in ‘Receivable from Trust’, created on account of IBP merger

* Include erstwhile IBP

3030

5,3732,190

4,879

1,384

1,456359

7,193

2,939 563

-

6,99213943

2,44011,882

2005-06 2006-07 Apr - Jun 07Net Under Realization Subsidy from the GOIDiscount from Upstream Companies Discount from Refiners Oil Bonds

Under Recovery – Sharing Mechanism

Rs./ Crore

23,881

30,034

Figures include erstwhile IBP

7,678

3131

Borrowings & Net Worth Levels

18928

2304725985

29303

34857

1449517320

2640427083

22591

12178

36326

8000

16000

24000

32000

40000

M-03 M-04 M-05 M-06 M-07 Apr -Jun 07

Borrowings Net WorthDebt/Equity 0.77 0.53 0.67 0.90 0.78 0.62:1

Rs./cr

Figures include erstwhile IBP from FY 2007

3232

Borrowing Pattern

44

46:54

60:40

27083

FY’07

39

50:50

60:40

17320

FY’05

41

41:59

56:44

26404

FY’06

44Relationship banks (No.)

49:51FE/Rupee Ratio*

50:50Short term /Long term Ratio*

22591Borrowings (Rs / cr)*

Apr - Jun 07Particulars

* Figures include erstwhile IBP from FY 2007

3333

Hidden Treasure

Strategic equity investments in ONGC and GAIL A hidden reserve of Rs. 13,626 crore on these equity investments

Particulars No. of Shares

(crore)

Holding

(%)

Purchase Value

(Rs/cr)

Market Value*

(Rs/cr)

ONGC 16.45 7.69 1,780 14,895

GAIL 2.04 2.41 123 634

Total 1,903 15,529

Successfully sold 2.04 crore shares of GAIL on 2nd March’06 at Rs.275/- per share & 2.74 crore shares of ONGC on 27th April’06 at Rs. 1,340/- per share through bulk deal, realising Rs. 561 crore & Rs. 3,670 crore respectively.

*As on June 30, 2007 ONGC has made a bonus issue of 1:2 after the investment by IOC

3434

Special Oil Bonds

Oil bonds are issued periodically to compensate for pricing controlsRs. 11,500 crore worth of bonds issued in FYE 2006 - IndianOil received Rs 6,992 croreDuring FYE 2007, Rs. 24,121 crore worth of bonds issued - IndianOil received Rs. 13,943 crore

The compensation in the form of oil bonds issued by the Government is dependent on the extent of under realization suffered by the OMCs on the sale of SKO (PDS), LPG (D), MS and HSDTiming of issuance of these bonds is determined by the Government These bonds can be sold freely in the open market

Till 31st July 2007, IndianOil has liquidated Rs. 10,661 crore worth of oil bonds Key:

SKO : Superior Kerosene Oil

(PDS) – Public Distribution System

LPG : Liquified Petroleum Gas

(D) – Domestic

MS – Motor Spirit

HSD – High Speed Diesel

3535

Shareholder’s Returns : Periodic sharing of reserves to reward shareholders

BONUS 1981-82 1994-95 1999-00 2003-04

1:2 2:1 1:1 1:2

Consistent dividend payment for over 40 years

193210

145

125

190

30

60

90

120

150

180

210

2002-03* 2003-04 2004-05 2005-06 2006-07

DIVIDEND (%)DIVIDEND (%)

*290% pre bonus of 1:2

3636

Capital Expenditure 2006-07

Petchem 1,726

R&D 10

Marketing 1,274

Pipelines 383

Refining* 1,732

Other** 292

TOTAL CAPEX : Rs. 5,417 Crore

Rs / crore

* Includes refineries’ capacity additions, yield and quality improvement** Other involves other diversifications such as LNG and E&P initiatives

3737

Capital Outlay2007-08

Rs / crore

Petchem 2,175

R&D 72

Marketing 1,489

Pipelines 438

Refining* 2,002

Other** 342

TOTAL CAPEX OUTLAY: Rs. 6,518 Crore

* Includes refineries’ capacity additions, yield and quality improvement** Other involves other diversifications such as LNG and E&P initiatives

3838

Capital Outlay (Estimated)XI Plan - April 2007 to March 2012

Other**3,275

Refining*26,907

Pipelines 1,428

Marketing 7,250

R&D300

Petchem 11,870

Rs / crore

TOTAL CAPEX OUTLAY: Rs. 51,030 Crore

* Includes refineries’ capacity addition, yield and quality improvement** Other involves other diversifications such as LNG and E&P initiative

3939

Capital ExpenditureMajor Projects Planned

Nov’07225Koyali-Ratlam product pipeline – 2 MMTPA

Oct’09232Chennai- Bangalore product pipeline - 1.45 MMTPA

Dec’092,869Installation of facilities for improvemnet in Diesel Quality and Distillates Yield (Hydro-cracker) Project at Haldia Refinery

Nov’0914,439Naphtha Cracker at Panipat

Jan’09251Dadri – Panipat R-LNG spur line – 6.72 MMSCMD

Dec'08806Expansion of Panipat Refinery from 12 to 15 MMTPA

Dec’08205Augmentation of Mundra – Panipat crude oil pipeline from 6 to 9 MMTPA

Aug’08187Panipat – Jalandhar LPG pipeline – 0.70 MMTPA

Dec’071,160Paradip – Haldia crude oil pipeline – 11 MMTPA

Oct’1125,64615 MMTPA Paradip Integrated Refinery Project

COMPLETION SCHEDULE

ESTIMATED COST (Rs. in Crore)PROJECTS

5,693 Jan’10Residue Upgradation and MS/ HSD quality improvement project at Gujarat Refinery

4040

Agenda



Company Overview


Financial Overview


Group Companies



Company Overview


Financial Overview


Group Companies

4141

Initiatives: Refining

77.9777.91

74.6874.55

72.9872.50

72.00

70

71

72

73

74

75

76

77

78

05-06 06-07 07-08 08-09 09-10 10-11 11-12

61

39

45

5052 53

61

30

35

40

45

50

55

60

65

05-06 06-07 07-08 08-09 09-10 10-11 11-12

Distillate Yield %High Sulphur (HS) Crude % Maximization

Projected incremental yield despite increase in HS composition

4242

Initiatives: Refining

Increase in Margins (GRMs)Capacity Addition

PLANSPanipat (+) 3.0 MMTPA (from 12 to 15 MMTPA)Haldia (+) 1.5 MMTPA (from 6.0 to 7.5 MMTPA)Paradip 15 MMTPA grassroot refinery with petrochemicals complex

FURTHER OPPORTUNITIESPanipat (+) 6.0 MMTPA (from 15 to 21 MMTPA)Mathura (+) 3.0 MMTPA (from 8 to11 MMTPA)Gujarat (+) 4.3 MMTPA (from 13.7 to 18 MMTPA)

CRUDE INPUT COST REDUCTIONEnhancing HS crude processing capability

Product Mix Improvement / Value AdditionDistillate yield improvementLPG maximization

4343

Initiatives: Pipeline Infrastructure Development

Commissioned 2006-07: 1,472 KM

Koyali-Dahej Product Pipeline 103 KM

Mundra-Panipat Crude Pipeline 1,100 KM

(Conversion from Product Pipeline)

Koyali Sanganer Product Pipeline

Kot – Salawas Section 111 KM

Lasariya – Chittaurgarh Section 158 KM

Under implementation: 1,321 KM

Paradip-Haldia Crude Oil Pipeline 350 KM

Koyali-Ratlam Product Pipeline 274 KM

Dadri-Panipat R-LNG 132 KM

Panipat-Jalandhar LPG Pipeline 275 KM

Chennai – Bangalore Product Pipeline 290 KM

4444

Initiatives: Retailing

Creating Unique Selling Points (“USP”) in all customer segments (consumer and retail)

Exploring new markets, including penetrating the largely untapped rural markets through Kisan Seva Kendras1

Positioning products to end consumers

Introducing branded fuels and other branded products to maintain its position as a market leader

XTRAMILE Diesel : 53% Share2

XTRAPREMIUM Petrol : 37% Share2

Autogas : 44% Share2

Marketing of alternate fuels and maintaining product differentiation

Expanding the non-fuel business to improve the Company’s bottom line1 Kisan Seva Kendras are the retail outlets aimed at catering to the needs of the farmers and other rural segments of the country; 2 During FYE 2007

4545

Initiatives: Forward Integration into Petrochemicals

Completed Projects

Linear Alkyl Benzene at Gujarat commissioned in August 2004 – world’s largest single train Kerosene-to-LAB plant

Plant operated at 102% Capacity1

Domestic market share of approximately 38%1

Exports to several countries in Southeast Asia and Europe

Integrated PX/PTA complex commissioned and fully operational in August 2006 at PanipatHaldia Petrochemicals Ltd. – 10% equity stake acquired

Planned Projects

Naphtha Cracker and downstream Polymer complex under implementation at Panipat and expected to be commissioned by 2009Integrated refinery and petrochemicals complex at Paradip: Approved in-principle; expected to be commissioned by 2011-12

1 During FYE 2007

4646

Initiatives: Backward Integration into E&P

Domestic Exploration Blocks

NELP-I, II III & VI

8 blocks with ONGC/OIL/GAIL/GSPC/Petrogas/ HPCL

15 – 30% participating interests

Coal Bed Methane

2 blocks with ONGC with a 20% participating interest

Farm-in

2 blocks with HOEC / Premier Oil; 35 – 43% participating interest

Exploration at various stages of progress

International Exploration Blocks

Nigeria, Yemen, Gabon, Libya and others

4747

Initiatives: Gas

Sourcing – Agreements with…Petronet:

1.5 MMTPA plus additional 0.75 MMTPA re-gassified LNG by end 2009Contract of 0.50 MMTPA for sale to RGPPL

Marketing EffortsSold 1.50 million tons re-gassified LNG, including captive consumption at Gujarat and Mathura refineries; spot LNG sold to fertilizer and power sectors

City Gas DistributionGreen Gas Ltd. – JV with GAIL for Agra and Lucknow for CNG distribution with four stations at Lucknow and three at AgraMoU with Great Eastern Energy Corporation for distribution of CBM gas In West BengalMoU with GAIL for city gas distribution in Eastern Region

4848

Initiatives: Globalization

Sri LankaLanka IOC Ltd. began retailing operations in February 2003Largest private sector company in Sri Lanka, with a 20% market share1

35% share in ‘Common Storage JV Company’First Grassroot A-site retail outlet commissioned at Trincomalee

MauritiusIndianOil Mauritius Ltd. incorporated in October 2001Commissioned the first ISO-9001 certified product testing laboratory in MauritiusGreenfield port terminal with 18 TMT tankage setup16% market share1

DubaiToll Blending of SERVO lubricants commenced in June 2004Wholly-owned subsidiary IOC Middle East FZE, incorporated in April 2006, actively pursuing lubricant business in Middle East and Africa

1 During FYE 2007

4949

Agenda



Company Overview


Financial Overview

Significant Initiatives

Group Companies



Company Overview


Financial Overview

Significant Initiatives

Group Companies

5050

Subsidiaries And Joint Ventures

Indian Oil Corporation Ltd.

Joint VenturesJoint Ventures SubsidiariesSubsidiaries

Indian Indian OiltankingOiltanking Ltd.Ltd. Bongaigaon Refinery Bongaigaon Refinery (to be merged)(to be merged)

(Holds 74.46%; to be merged by FYE 2008)(Holds 74.46%; to be merged by FYE 2008)(50:50 JV with (50:50 JV with OiltankingOiltanking GmbH, Germany)GmbH, Germany)Chennai Petroleum Corp. LimitedChennai Petroleum Corp. LimitedLubrizol India Pvt. Ltd.Lubrizol India Pvt. Ltd.(Holds 51.88%)(Holds 51.88%)

(50:50 JV with Lubrizol Corp, USA)(50:50 JV with Lubrizol Corp, USA)IndianOilIndianOil Technologies LimitedTechnologies Limited

IndianOil Petronas Pvt. Ltd.IndianOil Petronas Pvt. Ltd.(Wholly Owned Subsidiary)(Wholly Owned Subsidiary)

(50:50 JV with Petronas, Malaysia)(50:50 JV with Petronas, Malaysia)Lanka IOC Ltd., Sri LankaLanka IOC Ltd., Sri Lanka

AVIAVI--OIL India Pvt. Ltd.OIL India Pvt. Ltd.(Holds 75.11%)(Holds 75.11%)

(JV with (JV with BalmerBalmer LawrieLawrie (25%) and NYCO SA (50%))(25%) and NYCO SA (50%)) IndianOilIndianOil Mauritius Ltd., MauritiusMauritius Ltd., MauritiusPetronetPetronet LNG Ltd.LNG Ltd.

(Wholly Owned Subsidiary)(Wholly Owned Subsidiary)(JV with BPCL, GAIL, ONGC (12.5% each), (JV with BPCL, GAIL, ONGC (12.5% each), GazGaz de France de France (10%), ADB (5.2%), Public (34.8%))(10%), ADB (5.2%), Public (34.8%)) IOC Middle East FZE, DubaiIOC Middle East FZE, Dubai

(Wholly Owned Subsidiary)(Wholly Owned Subsidiary)Indo Cat Pvt. Ltd.Indo Cat Pvt. Ltd.(50:50 JV with (50:50 JV with InterCatInterCat. Inc, USA). Inc, USA)

Green Gas Ltd.Green Gas Ltd.(22.5% interest)(22.5% interest)

IndianOilIndianOil Sky Tanking Ltd.Sky Tanking Ltd.(33.3% interest)(33.3% interest)

5151

Financials : Subsidiaries

Rs / crore

Turnover

(Incl. Excise Duty)Profit After Tax

IOML * 302 427 6 8

Subsidiary

2005-06 2006-07 2005-06 2006-07

BRPL 6,289 6,426 175 185

CPCL 25,408 29,349 481 565

Lanka IOC * 1,639 1,406 (75) (27)

* In Equivalent INR

5252

Financials : JV Companies

Rs / crore

Turnover

(Incl. Excise Duty)Profit After Tax

Indian Oil Petronas 175 236 21 13

Green Gas - 11 - (1)

Joint Venture

2005-06 2006-07 2005-06 2006-07

Petronet LNG 3,837 5,501 195 313

Avi-Oil India 36 36 3 3

IOTL 240 418 18 21

Lubrizol 409 482 29 14

Thank You

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