|
Consolidated net sales (including other operating income) of Indian Oil
Corporation has declined 2.56% to Rs 198649.76 crore. Sales of Sale of Petroleum Products segment
has gone down 4.13% to Rs 2,11,315.42 crore (accounting for 92.33% of total
sales). Sales of Other Business
Activities segment rose 20.93% to Rs 10,640.09 crore (accounting for 4.65% of
total sales). Sales of Sale of
Petrochemicals segment has gone up 9.98% to Rs 6,908.50 crore (accounting for
3.02% of total sales). Inter-segment
sales rose Rs 4,797.70 crore to Rs 5,214.16 crore.
Profit before interest, tax and other unallocable items (PBIT) has slumped
41.67% to Rs 7,992.32 crore. PBIT of
Sale of Petroleum Products segment fell 38.53% to Rs 8,110.86 crore (accounting
for 101.48% of total PBIT). PBIT of
Other Business Activities segment rose 32.06% to Rs 281.21 crore (accounting
for 3.52% of total PBIT). PBIT of Sale
of Petrochemicals reported loss of Rs 399.75 crore compared to profit of Rs
295.09 crore.
PBIT margin of Sale of Petroleum Products segment fell from 5.99% to 3.84%. PBIT margin of Other Business Activities
segment rose from 2.42% to 2.64%. PBIT
margin of Sale of Petrochemicals segment fell from 4.70% to 5.79%. Overall PBIT margin fell from 5.82% to
3.49%.
Operating profit margin has declined from 8.65% to 6.03%, leading to 32.13%
decline in operating profit to Rs 11,970.44 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 57.42% to 58.35%. Purchase of finished goods cost fell from
27.56% to 27.14%. Employee cost increased
from 1.20% to 1.54%. Other expenses
rose from 5.17% to 6.78%. Provisions
writeoffs cost fell from 0.04% to 0.03%.
Other provisions fell from 0.04% to 0.03%.
Other income rose 13.73% to Rs 1453.52 crore. PBIDT fell 29.03% to Rs 13423.96 crore. Provision for interest rose 9.69% to Rs
2147.11 crore. Loan funds declined from
Rs 1,48,977.08 crore as of 31 March 2023 to Rs 1,32,627.56 crore as of 31 March
2024. Inventories rose to Rs 1,21,375.83
crore as of 31 March 2024 from Rs 1,21,107.58 crore as of 31 March 2023. Sundry debtors were lower at Rs 13,831.45
crore as of 31 March 2024 compared to Rs 16,398.69 crore as of 31 March
2023. Cash and bank balance rose to Rs
3,158.79 crore as of 31 March 2024 from Rs 2,096.64 crore as of 31 March 2023. Investments rose to Rs 65,541.90 crore as of
31 March 2024 from Rs 52,190.46 crore as of 31 March 2023 .
PBDT fell 33.50% to Rs 11276.85 crore.
Provision for depreciation rose 24.50% to Rs 4093.75 crore. Fixed assets increased to Rs 2,49,476.38 crore
as of 31 March 2024 from Rs 2,24,082.13 crore as of 31 March 2023. Intangible assets increased from Rs 7,098.91
crore to Rs 7,553.83 crore.
Profit before tax down 47.45% to Rs 7,183.10 crore. Share of profit/loss was 164.26% higher at Rs
236.54 crore. Provision for tax was
expense of Rs 1931.72 crore, compared to Rs 2917.38 crore. Effective tax rate was 26.04% compared to
21.20%.
Minority interest decreased 38.51% to Rs 339.05 crore. Net profit attributable to owners of the
company decreased 49.96% to Rs 5,148.87 crore.
Equity capital stood at Rs 13,771.56 crore as of 31 March 2024 to Rs
13,771.56 crore as of 31 March 2023. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 51.50% as of 31 March 2024 compared to 51.50% as of 31
March 2023 .
Indian Oil Chairman,
Mr. S. M. Vaidya, said,
“Indian Oil sold 97.551 million tonnes of products, including exports, during
FY 2023-24. Our refining throughput for FY 2023-24 was 73.308 million tonnes
and the throughput of the Corporation’s countrywide pipelines network was
98.626 million tonnes during the year. The gross refining margin (GRM) for FY
2023-24 was US$ 12.05 per bbl as compared to US$ 19.52 per bbl in the previous
financial year.
For the fourth quarter of FY 2023-24, Indian Oil`s product sales volumes,
including exports, was 25.279 million tonnes. The refining throughput was
18.282 million tonnes and the throughput of the Corporation’s countrywide
pipelines network was 24.593 million tonnes during the quarter.”
Full year results
analysis
Net sales (including other operating income) of Indian Oil Corporation has
declined 7.77% to Rs 776351.85 crore.
Sales of Petroleum Products segment has gone down 8.24% to Rs
8,33,469.67 crore (accounting for 92.62% of total sales). Sales of Other Business Activities segment
rose 9.35% to Rs 40,163.36 crore (accounting for 4.46% of total sales). Sales of Petrochemicals segment has gone up
17.65% to Rs 26,233.69 crore (accounting for 2.92% of total sales). Inter-segment sales rose Rs 15,972.13 crore
to Rs 18,631.27 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped
192.26% to Rs 60,464.42 crore. PBIT of
Petroleum Products segment rose 222.95% to Rs 59,548.49 crore (accounting for
98.49% of total PBIT). PBIT of Other
Business Activities segment fell 48.17% to Rs 1,260.07 crore (accounting for
2.08% of total PBIT). PBIT of
Petrochemicals segment fell 89.71% to Rs -344.14 crore (accounting for -0.57%
of total PBIT).
PBIT margin of Petroleum Products segment rose from 2.03% to 7.14%. PBIT margin of Other Business Activities
segment fell from 6.62% to 3.14%. PBIT
margin of Petrochemicals segment fell from negative 0.81% to negative
1.31%. Overall PBIT margin rose from
2.14% to 6.72%.
Operating profit margin has jumped from 3.64% to 9.74%, leading to 146.74%
rise in operating profit to Rs 75,590.77 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 59.40% to 57.57%.
Purchase of finished goods cost fell from 29.53% to 24.68%. Employee cost increased from 1.10% to
1.51%. Other expenses rose from 6.36%
to 6.49%. Provisions writeoffs cost
fell from 0.04% to 0.03%. Other
provisions fell from 0.04% to 0.03%.
Other income fell 9.83% to Rs 3842.85 crore. PBIDT rose 127.62% to Rs 79433.62 crore. Provision for interest rose 3.77% to Rs
7825.65 crore. Loan funds declined from
Rs 1,48,977.08 crore as of 31 March 2023 to Rs 1,32,627.56 crore as of 31 March
2024. Inventories rose to Rs 1,21,375.83
crore as of 31 March 2024 from Rs 1,21,107.58 crore as of 31 March 2023. Sundry debtors were lower at Rs 13,831.45
crore as of 31 March 2024 compared to Rs 16,398.69 crore as of 31 March
2023. Cash and bank balance rose to Rs
3,158.79 crore as of 31 March 2024 from Rs 2,096.64 crore as of 31 March
2023. Investments rose to Rs 65,541.90
crore as of 31 March 2024 from Rs 52,190.46 crore as of 31 March 2023 .
PBDT rose 161.76% to Rs 71607.97 crore.
Provision for depreciation rose 20.37% to Rs 15866.11 crore. Fixed assets increased to Rs 2,49,476.38
crore as of 31 March 2024 from Rs 2,24,082.13 crore as of 31 March 2023. Intangible assets increased from Rs 7,098.91
crore to Rs 7,553.83 crore.
Profit before tax grew 293.23% to Rs 55,741.86 crore. Share of profit/loss was 79.30% higher at Rs
1545.93 crore. Provision for tax was
expense of Rs 14126.64 crore, compared to Rs 3333.43 crore. Effective tax rate was 24.66% compared to
22.17%.
Minority interest decreased 25.14% to Rs 1,431.46 crore. Net profit attributable to owners of the
company increased 326.16% to Rs 41,729.69 crore.
Equity capital stood at Rs 13,771.56 crore as of 31 March 2024 to Rs
13,771.56 crore as of 31 March 2023. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 51.50% as of 31 March 2024 ,compared to 51.50% as of
31 March 2023 .
Cash flow from operating activities increased to Rs 71,098.63 crore for
year ended March 2024 from Rs 29,643.72 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 5,005.85 crore, compared to Rs
5,609.49 crore during the year ended March 2023.
The scrip is currently trading at Rs 168
|
Indian Oil Corporation :
Consolidated Results
|
|
Particulars
|
2403
(03)
|
2303
(03)
|
Var.(%)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Net
Sales
|
1,98,649.76
|
2,03,872.27
|
-3
|
7,76,351.85
|
8,41,755.91
|
-8
|
|
OPM
(%)
|
6.0
|
8.7
|
|
9.7
|
3.6
|
|
|
OP
|
11,970.44
|
17,636.57
|
-32
|
75,590.77
|
30,636.21
|
147
|
|
Other
Inc.
|
1,453.52
|
1,278.04
|
14
|
3,842.85
|
4,261.70
|
-10
|
|
PBIDT
|
13,423.96
|
18,914.61
|
-29
|
79,433.62
|
34,897.91
|
128
|
|
Interest
|
2,147.11
|
1,957.36
|
10
|
7,825.65
|
7,541.36
|
4
|
|
PBDT
|
11,276.85
|
16,957.25
|
-34
|
71,607.97
|
27,356.55
|
162
|
|
Depreciation
|
4093.75
|
3288.15
|
25
|
15866.11
|
13181.05
|
20
|
|
PBT
|
7,183.10
|
13,669.10
|
-47
|
55741.86
|
14175.5
|
293
|
|
Share
of Profit/(Loss) from Associates
|
236.54
|
89.51
|
164
|
1545.93
|
862.19
|
79
|
|
PBT
before EO
|
7419.64
|
13758.61
|
-46
|
57287.79
|
15037.69
|
281
|
|
EO
Income
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT
after EO
|
7419.64
|
13758.61
|
-46
|
57287.79
|
15037.69
|
281
|
|
Taxation
|
1931.72
|
2917.38
|
-34
|
14126.64
|
3333.43
|
324
|
|
PAT
|
5487.92
|
10841.23
|
-49
|
43161.15
|
11704.26
|
269
|
|
Minority
Interest (MI)
|
339.05
|
551.41
|
-39
|
1431.46
|
1912.14
|
-25
|
|
Net
profit
|
5148.87
|
10289.82
|
-50
|
41729.69
|
9792.12
|
326
|
|
EPS
(Rs)*
|
#
|
#
|
|
29.6
|
6.9
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 14,121.24 crore, Face value of Rs 10,
Excluding extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
Indian
Oil Corporation : Consolidated Segment Results
|
|
|
%
of (Total)
|
2403
(03)
|
2303
(03)
|
Var.(%)
|
%
of (Total)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Sales
|
|
Sale
of Petroleum Products
|
92
|
2,11,315.42
|
2,20,428.74
|
-4
|
93
|
8,33,469.67
|
9,08,355.98
|
-8
|
|
Other
Business Activities
|
5
|
10,640.09
|
8,798.86
|
21
|
4
|
40,163.36
|
36,728.91
|
9
|
|
Sale
of Petrochemicals
|
3
|
6,908.50
|
6,281.66
|
10
|
3
|
26,233.69
|
22,297.18
|
18
|
|
Total
Reported Sales
|
100
|
2,28,864.01
|
2,35,509.26
|
-3
|
100
|
8,99,866.72
|
9,67,382.07
|
-7
|
|
Less:
Inter segment revenues
|
|
5,214.16
|
4,797.70
|
9
|
|
18,631.27
|
15,972.13
|
17
|
|
Net
Sales
|
100
|
2,23,649.85
|
2,30,711.56
|
-3
|
100
|
8,81,235.45
|
9,51,409.94
|
-7
|
|
PBIT
|
|
Sale
of Petroleum Products
|
101
|
8,110.86
|
13,194.19
|
-39
|
98
|
59,548.49
|
18,439.06
|
223
|
|
Other
Business Activities
|
4
|
281.21
|
212.94
|
32
|
2
|
1,260.07
|
2,431.18
|
-48
|
|
Sale
of Petrochemicals
|
-5
|
-399.75
|
295.09
|
PL
|
-1
|
-344.14
|
-181.4
|
-90
|
|
Total
PBIT
|
100
|
7,992.32
|
13,702.22
|
-42
|
100
|
60,464.42
|
20,688.84
|
192
|
|
Less
: Interest
|
|
2,147.11
|
1,957.36
|
10
|
|
7,825.65
|
7,541.36
|
4
|
|
Add:
Other un-allcoable
|
|
1,574.43
|
2,013.75
|
-22
|
|
4,649.02
|
1,890.21
|
146
|
|
PBT
|
100
|
7,419.64
|
13,758.61
|
-46.07
|
100
|
57,287.79
|
15,037.69
|
280.96
|
|