Indian Oil Corp Ltd - Company Profile
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Business Description
Indian Oil Corp Ltd (IOCL) is an integrated oil and gas company with upstream, midstream, and downstream operations. IOCL has major presence in almost all the streams of oil, gas, petrochemicals and alternative energy sources. The company also provides terminalling, aviation fuel and consultancy services. It also participates in renewable and alternative energy businesses. The company operates through four reportable business segments: Petroleum Products, Petrochemicals, Gas and Other Business. In FY2025, the company incurred a capital expenditure of INR386,599.2 million which was 4.5% of the company's total revenue and declined 7.7% YoY.
R&D Overview
IOCL has undertaken a range of R&D initiatives focused on delivering excellence across refining, petrochemicals, pipelines, marketing, and clean energy. The company's efforts are concentrated on three pillars: Energy Transition, Sustainability, and Operational Improvements. Key initiatives include developing lubricants for alternative fuels, advancing bioenergy and bioplastics, innovating in refining and petrochemical catalysts, and launching new eco-friendly products. The company has also made significant advancements in nanotechnology research, biofuels, and carbon capture, while fostering partnerships with academic and research institutions to drive innovation. The R&D unit of IOCL is responsible for advancing in-house technologies and solutions to enhance efficiency, reduce dependencies, and support sustainable growth. The unit actively implements innovation initiatives to improve operational efficiency, reduce energy consumption, and support sustainable practices. IOCL has filed 1,809 patents as of March 31, 2025, and developed 169 new lubricant formulations with 58 OEM approvals. The company has also signed strategic MoUs with various organizations to bolster innovation and technology development. In FY2025, the company's research and development initiatives incurred a capital expenditure of INR8,124.1 which was 0.1% of the company's total revenue and declined 14.1% YoY.
Business Segments
Overview
Includes the sales of Gas. Operates and implements City Gas Distribution (CGD) network through its joint ventures Green Gas Ltd (GGL) in Lucknow and Agra; and through IndianOil-Adani Gas Pvt Ltd (IOAGPL) in Allahabad, Chandigarh, Panipat, Daman, Ernakulam, Udham Singh Nagar, South Goa and Bulandshahar. In FY2025, the segment incurred a capital expenditure of INR9,013.2 million, which declined 39.4% YoY.
Performance
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Overview
Includes sale of explosives and cryogenics, wind and solar power generation, oil and gas exploration and production (E&P) activities. - IOCL conducts E&P of crude oil and natural gas in collaboration with other consortium partners both in India and other countries including the US, Canada, Gabon, Libya, Nigeria, Russia, Venezuela, Oman and the UAE. In FY2025, the segment incurred a capital expenditure of INR13,570.7 million, which declined 12% YoY.
Performance
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Overview
Offers a full slate of petrochemical products and intermediates under the brand name PROPEL. - It provides linear alkyl benzene (LAB), paraxylene/purified terephthalic acid (PX/PTA) and methyl tertiary butyl ether (MTBE) among other polymers. - Operates LAB production plant at Koyali, Gujarat, and PX/PTA and naphtha cracker plants at Panipat, Haryana. The naphtha cracker consists of polypropylene, high density polyethylene (HDPE) and linear low density poly ethylene (LLDPE), and mono ethylene glycol (MEG) plants. The cracker also produces LPG, pyrolysis fuel oil, components of gasoline and diesel. In FY2025, the segment incurred a capital expenditure of INR34,896 million, which declined 38.9% YoY.
Performance
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Overview
Includes refining, transporting, and marketing of petroleum products in India. - It offers refined petroleum products such as light petroleum gas, high speed diesel, jet fuel, superior kerosene oil (SKO), gasoline, bitumen, heavy fuel oil and naphtha. - Operates Digboi refinery, Guwahati refinery, Barauni refinery, Gujarat refinery, Haldia refinery, Bongaigaon refinery, Mathura refinery, Panipat refinery and Paradip refinery. - The company also operates refineries in Chennai through its subsidiary Chennai Petroleum Corporation Ltd (CPCL). In FY2025, the segment incurred a capital expenditure of INR329,119.3 million, which declined 0.7% YoY.
Performance
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Geographical Segments
Performance
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Performance
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