To reach every Indian, Maharatna Public Sector Undertaking, IndianOil has expanded its network by adding 1,350 new units during the financial year 2016-17 (FY16-17) in the forms of Rural Outlets, Kisan Sewa Kendras(KSKs), Terminal Depots, LPG districts, Aviation Fuel Station (AFS) and Consumer pumps across the country. By adding 516 ROs in the last financial year, IndianOil has expanded its ROs to 19, 161 and by adding 365 KSKs in rural and remote areas total number of such Kendras has crossed 7,000 mark.
Talking to Reporters after the Board meeting to finalise financial results for FY16-17, IndianOil Chairman B Ashok said, “ During the last fiscal year, CNG was made available in 90 more ROs and now we have 280 CNG stations. The company added 516 ROs to take the total number at 19, 161. We also added 365 KSKs last year and overall now IndianOil has over 46, 500 touch points with 30 smart terminals.”
Besides serving bulk customers like the defence services, the railways and state transport undertakings through over 6,500 dedicated facilities, IndianOil currently operates over 26,200 fuel stations covering every nook and corner of the country.
“Over 930 fuel stations were added to the retail network in 2016-17, of which 365 were KSKs outlets in rural areas. The contribution of KSK outlets to total sales reached a new high of 14.6 percent in Motor Spirit (MS) and High Speed Diesel during the year. With about 600 fuel stations automated in 2016-17, the cumulative number of such automated stations at IndianOil crossed the 10,000 mark,” he added.
IndianOil posted a net profit of Rs. 19,106 crore for the FY 2016-17 as compared to a profit of Rs.11,242 crore in the last fiscal. The income from operations for the financial year 2016-17 was Rs. 4,45,373 crore as compared to Rs. 4,06,828 crore in 2015-16.
IndianOil’s income from operations was Rs.1,22,285 crore in Q4 FY 16-17 as compared to Rs. 98,719 crore in the corresponding quarter of 2015-16. Profit for the last quarter of 2016-17 is Rs. 3,721 crore as compared to Rs. 2,006 crore in the corresponding quarter of 2015-16.
“IndianOil sold 83.490 million tonnes of products, including exports, during 2016-17. Our refining throughput for FY 2016-17 was 65.191 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 82.490 million tonnes during the same period. The gross refining margin (GRM) during the year 2016-17 was US$ 7.77 per bbl as compared to US$ 5.06 per bbl in 2015-16,” the Chairman said.
The year 2016-17 saw IndianOil spearheading yet another mammoth welfare programme, Pradhan Mantri Ujjwala Yojana, the world’s biggest initiative for energy and financial inclusion of women from the bottom of the pyramid sections of society. With a target to release 5 crore deposit-free LPG connections to BPL households by the year 2019, the programme crossed two crore connections in less than a year, raising LPG usage across markets to above 70 per cent.
In 2016-17, IndianOil launched a revolving Startup Fund to nurture an eco-system conducive for innovations in the domestic hydrocarbons sector. Driven by IndianOil’ state-of-the-art Research & Development Centre at Faridabad, the scheme will support projects that aim to establish innovative technology and business process re-engineering ideas with significant business potential, social relevance and focussed on environment-protection.