Stock Name : Indian Oil Corporation /Tips Open Buy : 92.60 Posted Date : July 24, 2020
Stopless/Horizon : 75/2Months Target : 125 Results Achieved (Yes/No) :

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

In 1964, Indian Refineries Ltd merged with Indian Oil Corporation Ltd and Indian Oil Corporation Limited (IOCL) was formed.
With 11 refineries, and share of 32% in India’s refining capacity (as on March 31, 2020), today, IOCL dominates the oil refining and marketing sector. IOCL’s major brands are Indane LPGas, SERVO lubricants, XTRAPREMIUM petrol and XTRAMILE 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 on April 1, 2020), and by aggressive branding and marketing exercises.

For the year ending 31-Mar-2019, Indian Oil’s Petroleum Refinery Products contributed Rs 596219.96 Crore (98.39 % of its total sales), Other operating revenue contributed Rs 4766.52 Crore (0.78 % of its total sales), Grants contributed Rs 4110.18 Crore (0.67 % of its total sales), Income from sale of share &securities contributed Rs 310.66 Crore (0.05 % of its total sales), Scrap contributed Rs 235.06 Crore (0.03 % of its total sales) and Sale of services contributed Rs 131.39 Crore (0.02 % of its total sales).

The Indian Oil Corporation Limited reported a consolidated sale of Rs 118007.32 Crores for the quarter ended 31 of March 2020 (which is down by -4.78 % from last quarter sales of Rs 123929.51 Crore and down by -6.39 % from last year same quarter sales of Rs 126068.23 Crore). Indian Oil reported net profit after tax of Rs -9101.32 Crore in latest quarter.

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

Indian Oil’smarket capital is Rs 80632.27 Crores,Shrikant Madhav Vaidya is the Chairmanof Indian Oil Corporation limited and as on 30-06-2020, the company has a total of 9,414,158,922 shares outstanding.

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