Stock Name : Indian Oil Corporation Limited (IOCL)/Tips Open Buy : 99 Posted Date : Feb 9, 2021
Stopless/Horizon : 94 Target : 113

Overview: Indian Oil Corporation Limited is a Large Cap company with a market capitalization of Rs 97530.69 Crore. The company accounts for almost half of India’s petroleum products market share, with sales of 78.54 million metric tonnes (MMT) in the year 2019-20.

About the company: Indian Refineries Ltd (IRL) was established in August 1958, as a wholly Government-owned company to set up and operate petroleum refineries and pipelines. On 30 June 1959, another government-owned enterprise, Indian Oil Company Ltd was formed with the task of supplying petroleum products to government organizations.
In 1964, Indian Refineries Ltd merged with Indian Oil Corporation Ltd, and Indian Oil Corporation Limited (IOCL) was formed.

With 11 refineries, and a share of 32% of India’s refining capacity (as of March 31, 2020), today, IOCL dominates the oil refining and marketing sector.IOCL’s major brands areIndane LPGas, SERVO lubricants, XTRA PREMIUM petrol, and XTRA MILE diesel.

The market position is supported by its deep-rooted marketing and distribution infrastructure, with 29,085 retail outlets and 12,450 LPG distributors (as of April 1, 2020), and by aggressive branding and marketing exercises.
The state-run refiner being ranked 151st among the world’s largest corporates in Fortune’s ‘Global 500’ listing, and the vision to become a globally admired company.

Management: Mr. Shrikant Madhav Vaidya is the Chairman and Mr. Kamal Kumar Gwalani is the Secretary.

Shareholding Pattern:
• Promoter: 51.5%
• MF: 5.4%
• FII: 5.8%
• Other Institutions: 8.2%
• Public: 29%

Dividend: Indian Oil Corporation Limited has declared an equity dividend of 42.50% amounting to Rs 4.25 per share for the year ending March 2020.

Sales Report: For the quarter ended 31st of December 2020, Indian Oil Corporation Limited has reported a Consolidated sale of Rs 147810.23 Crore, which is up 80.91 % from last quarter sales of Rs 81704.43 Crore and up 19.27 % from corresponding quarter last year’s sales of Rs 123929.51 Crore. The net profit rose to 4,916.59 crores in this quarter as against Rs. 2,339.02 crore for the quarter ended December 31, 2019.

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