|
Net sales (including other operating income) of Indian Oil Corporation has
declined 2.38% to Rs 174976.12 crore.
Sales of Sale of Petroleum Products segment has gone down 3.88% to Rs
185,821.24 crore (accounting for 91.19% of total sales). Sales of Other Business Activities segment
rose 16.86% to Rs 11,130.08 crore (accounting for 5.46% of total sales). Sales of Sale of Petrochemicals segment has
gone up 3.02% to Rs 6,813.36 crore (accounting for 3.34% of total sales). Inter-segment sales rose Rs 4,175.55 crore to
Rs 5,148.88 crore.
For Q2 24-25, IndianOil`s product sales volumes, including exports, was
22.961 million tonnes. The refining throughput was 16.738 million tonnes and
the throughput of the Corporation’s countrywide pipelines network was 23.985
million tonnes during the quarter.
PBIT of Sale of Petroleum Products reported loss of Rs 659.47 crore
compared to profit of Rs 19,530.03 crore.
PBIT of Other Business Activities segment rose 3.78% to Rs 293.68 crore
(accounting for -64.20% of total PBIT).
PBIT of Sale of Petrochemicals reported loss of Rs 91.64 crore compared
to profit of Rs 163.42 crore.
PBIT margin of Sale of Petroleum Products segment fell from 10.10% to
0.35%. PBIT margin of Other Business
Activities segment fell from 2.97% to 2.64%.
PBIT margin of Sale of Petrochemicals segment fell from 2.47% to
1.35%. Overall PBIT margin fell from
9.54% to -0.22%.
Operating profit margin has declined from 12.93% to 1.98%, leading to
85.04% decline in operating profit to Rs 3,467.08 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 56.24% to 59.75%. Purchase of finished goods cost rose from
23.06% to 29.23%. Employee cost
decreased from 1.58% to 1.45%. Other
expenses rose from 6.71% to 7.65%.
Provisions writeoffs cost rose from 0.05% to 0.09%. Other provisions rose from 0.05% to
0.09%.
Other income rose 42.80% to Rs 723.25 crore. PBIDT fell 82.30% to Rs 4190.33 crore. Provision for interest rose 28.77% to Rs
2546.37 crore. Loan funds rose to Rs
163,400.87 crore as of 30 September 2024 from Rs 115,418.18 crore as of 30
September 2023. Inventories rose to Rs
128,107.51 crore as of 30 September 2024 from Rs 122,246.20 crore as of 30
September 2023. Sundry debtors were
higher at Rs 14,936.02 crore as of 30 September 2024 compared to Rs 12,737.74
crore as of 30 September 2023. Cash and
bank balance rose to Rs 3,220.31 crore as of 30 September 2024 from Rs 1,943.56
crore as of 30 September 2023.
Investments rose to Rs 70,177.80 crore as of 30 September 2024 from Rs
56,663.87 crore as of 30 September 2023 .
PBDT fell 92.42% to Rs 1643.96 crore.
Provision for depreciation rose 12.62% to Rs 4065.12 crore. Fixed assets increased to Rs 261,355.41 crore
as of 30 September 2024 from Rs 242,927.98 crore as of 30 September 2023. Intangible assets increased from Rs 1.04
crore to Rs 7,697.73 crore.
Profit before tax reported loss of Rs 2,421.16 crore compared to profit of
Rs 18,090.22 crore. Share of profit/loss
was 109.32% higher at Rs 675.15 crore.
Provision for tax was credit of Rs 139.93 crore, compared to debit of Rs
4699.68 crore. Effective tax rate was
23.77% compared to 25.52%. The company reported net loss of Rs 169.58 crore
compared to profit of Rs 13114.3 crore due to inventory losses and lower
refining margins during current quarter..
Equity capital stood at Rs 13,771.56 crore as of 30 September 2024 to Rs
13,771.56 crore as of 30 September 2023.
Per share face Value remained same at Rs 10.00.
Promoters’ stake was 51.50% as of 30 September 2024 ,compared to 51.50% as
of 30 September 2023 .
For year-to-date (YTD)
results analysis.
Net sales (including other operating income) of Indian Oil Corporation has
declined 2.38% to Rs 368821.03 crore.
Sales of Sale of Petroleum Products segment has gone down 3.81% to Rs
392,263.78 crore (accounting for 91.55% of total sales). Sales of Other Business Activities segment
rose 24.08% to Rs 22,592.91 crore (accounting for 5.27% of total sales). Sales of Sale of Petrochemicals segment has
gone up 1.96% to Rs 13,602.78 crore (accounting for 3.17% of total sales).
IndianOil sold 48.213 million tonnes of products, including exports, during
the period April – September 2024. Our refining throughput was 34.906 million
tonnes and the throughput of the Corporation’s countrywide pipelines network
was 48.213 million tonnes during the period. The gross refining margin (GRM)
during the period April – September 2024 was US$ 4.08 per bbl as compared to
US$ 13.12 per bbl in corresponding period of previous financial year.
Profit before interest, tax and other unallocable items (PBIT) has slumped
86.41% to Rs 5,474.98 crore. PBIT of
Sale of Petroleum Products segment fell 88.61% to Rs 4,480.34 crore (accounting
for 81.83% of total PBIT). PBIT of Other
Business Activities segment rose 51.22% to Rs 1,074.35 crore (accounting for
19.62% of total PBIT). PBIT of Sale of
Petrochemicals reported loss of Rs 79.71 crore compared to profit of Rs 251.82
crore.
PBIT margin of Sale of Petroleum Products segment fell from 9.65% to
1.14%. PBIT margin of Other Business
Activities segment rose from 3.90% to 4.76%.
PBIT margin of Sale of Petrochemicals segment fell from 1.89% to
0.59%. Overall PBIT margin fell from 9.17%
to 1.28%.
Operating profit margin has declined from 12.41% to 3.63%, leading to
71.45% decline in operating profit to Rs 13,388.52 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 56.24% to 60.65%. Purchase of finished goods cost rose from
23.39% to 27.17%. Employee cost
decreased from 1.57% to 1.46%. Other
expenses rose from 6.38% to 7.15%.
Other income rose 11.88% to Rs 1254.32 crore. PBIDT fell 69.50% to Rs 14642.84 crore. Provision for interest rose 24.33% to Rs
4626.19 crore. Loan funds rose to Rs
163,400.87 crore as of 30 September 2024 from Rs 115,418.18 crore as of 30
September 2023. Inventories rose to Rs
128,107.51 crore as of 30 September 2024 from Rs 122,246.20 crore as of 30
September 2023. Sundry debtors were
higher at Rs 14,936.02 crore as of 30 September 2024 compared to Rs 12,737.74
crore as of 30 September 2023. Cash and
bank balance rose to Rs 3,220.31 crore as of 30 September 2024 from Rs 1,943.56
crore as of 30 September 2023.
Investments rose to Rs 70,177.80 crore as of 30 September 2024 from Rs
56,663.87 crore as of 30 September 2023 .
PBDT fell 77.38% to Rs 10016.65 crore.
Provision for depreciation rose 15.27% to Rs 8167.94 crore. Fixed assets increased to Rs 261,355.41 crore
as of 30 September 2024 from Rs 242,927.98 crore as of 30 September 2023. Intangible assets increased from Rs 1.04
crore to Rs 7,697.73 crore.
Profit before tax down 95.03% to Rs 1,848.71 crore. Share of profit/loss was 88.36% higher at Rs
1246.32 crore. Provision for tax was
expense of Rs 978.48 crore, compared to Rs 9414.49 crore. Effective tax rate was 23.01% compared to
24.86%.
Net profit attributable to owners of the company decreased 87.81% to Rs
3,358.91 crore mainly on inventory losses, reduced refining margins affected by
lower cracks in line with the international trends and suppressed marketing
margins during current period..
Equity capital stood at Rs 13,771.56 crore as of 30 September 2024 to Rs
13,771.56 crore as of 30 September 2023.
Per share face Value remained same at Rs 10.00.
Promoters’ stake was 51.50% as of 30 September 2024 ,compared to 51.50% as
of 30 September 2023 .
Cash flow from operating activities decreased to Rs 613.18 crore for YTD
ended September 2024 from Rs 58,714.33 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets
during the YTD ended September 2024 stood at Rs 2,600.62 crore, compared to Rs
2,468.31 crore during the YTD ended September 2023.
The scrip is currently trading at Rs 147
|
Indian Oil Corporation :
Consolidated Results
|
|
Particulars
|
2409 (03)
|
2309 (03)
|
Var.(%)
|
2409 (06)
|
2309 (06)
|
Var.(%)
|
2403 (12)
|
2303 (12)
|
Var.(%)
|
|
Net
Sales
|
1,74,976.12
|
1,79,245.67
|
-2
|
3,68,821.03
|
3,77,796.44
|
-2
|
7,76,351.85
|
8,41,755.91
|
-8
|
|
OPM
(%)
|
2.0
|
12.9
|
|
3.6
|
12.4
|
|
9.7
|
3.6
|
|
|
OP
|
3,467.08
|
23,170.81
|
-85
|
13,388.52
|
46,887.14
|
-71
|
75,595.06
|
30,636.21
|
147
|
|
Other
Inc.
|
723.25
|
506.48
|
43
|
1,254.32
|
1,121.10
|
12
|
3,838.56
|
4,261.70
|
-10
|
|
PBIDT
|
4,190.33
|
23,677.29
|
-82
|
14,642.84
|
48,008.24
|
-70
|
79,433.62
|
34,897.91
|
128
|
|
Interest
|
2,546.37
|
1,977.45
|
29
|
4,626.19
|
3,720.93
|
24
|
7,825.65
|
7,541.36
|
4
|
|
PBDT
|
1,643.96
|
21,699.84
|
-92
|
10,016.65
|
44,287.31
|
-77
|
71,607.97
|
27,356.55
|
162
|
|
Depreciation
|
4065.12
|
3609.62
|
13
|
8167.94
|
7086.12
|
15
|
15866.11
|
13181.05
|
20
|
|
PBT
|
-2,421.16
|
18,090.22
|
PL
|
1848.71
|
37201.19
|
-95
|
55741.86
|
14175.5
|
293
|
|
Share
of Profit/(Loss) from Associates
|
675.15
|
322.54
|
109
|
1246.32
|
661.68
|
88
|
1545.93
|
862.19
|
79
|
|
PBT
before EO
|
-1746.01
|
18412.76
|
PL
|
3095.03
|
37862.87
|
-92
|
57287.79
|
15037.69
|
281
|
|
EO
Income
|
1157.3
|
0
|
-
|
1157.3
|
0
|
-
|
0
|
0
|
-
|
|
PBT
after EO
|
-588.71
|
18412.76
|
PL
|
4252.33
|
37862.87
|
-89
|
57287.79
|
15037.69
|
281
|
|
Taxation
|
-139.93
|
4699.68
|
LP
|
978.48
|
9414.49
|
-90
|
14126.64
|
3333.43
|
324
|
|
PAT
|
-448.78
|
13713.08
|
PL
|
3273.85
|
28448.38
|
-88
|
43161.15
|
11704.26
|
269
|
|
Minority
Interest (MI)
|
-279.2
|
598.78
|
LP
|
-85.06
|
897.12
|
LP
|
1431.46
|
1912.14
|
-25
|
|
Net
profit
|
-169.58
|
13114.3
|
PL
|
3358.91
|
27551.26
|
-88
|
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)
|
2409 (03)
|
2309 (03)
|
Var.(%)
|
% of (Total)
|
2409 (06)
|
2309 (06)
|
Var.(%)
|
% of (Total)
|
2403 (12)
|
2303 (12)
|
Var.(%)
|
|
Sales
|
|
|
|
|
|
Sale
of Petroleum Products
|
91
|
1,85,821.24
|
1,93,320.60
|
-4
|
92
|
3,92,263.78
|
4,07,784.49
|
-4
|
93
|
8,33,469.67
|
9,08,355.98
|
-8
|
|
Other
Business Activities
|
5
|
11,130.08
|
9,524.63
|
17
|
5
|
22,592.91
|
18,208.91
|
24
|
4
|
40,163.36
|
36,728.91
|
9
|
|
Sale
of Petrochemicals
|
3
|
6,813.36
|
6,613.35
|
3
|
3
|
13,602.78
|
13,341.66
|
2
|
3
|
26,233.69
|
22,297.18
|
18
|
|
Total
Reported Sales
|
100
|
2,03,764.68
|
2,09,458.58
|
-3
|
100
|
4,28,459.47
|
4,39,335.06
|
-2
|
100
|
8,99,866.72
|
9,67,382.07
|
-7
|
|
Less:
Inter segment revenues
|
|
5,148.88
|
4,175.55
|
23
|
|
9,979.33
|
0
|
|
|
15,972.13
|
16.65
|
|
|
Net
Sales
|
|
1,98,615.80
|
2,05,283.03
|
-3
|
|
4,18,480.14
|
4,39,335.06
|
-5
|
|
8,81,235.45
|
9,51,409.94
|
-7
|
|
PBIT
|
|
|
|
|
|
Sale
of Petroleum Products
|
144
|
-659.47
|
19,530.03
|
PL
|
82
|
4,480.34
|
39,336.85
|
-89
|
98
|
59,548.49
|
18,439.06
|
223
|
|
Other
Business Activities
|
-64
|
293.68
|
282.99
|
4
|
20
|
1,074.35
|
710.45
|
51
|
2
|
1,260.07
|
2,431.18
|
-48
|
|
Sale
of Petrochemicals
|
20
|
-91.64
|
163.42
|
PL
|
-1
|
-79.71
|
251.82
|
PL
|
-1
|
-344.14
|
-181.4
|
-90
|
|
Total
PBIT
|
100
|
-457.43
|
19,976.44
|
PL
|
100
|
5,474.98
|
40,299.12
|
-86
|
100
|
60,464.42
|
20,688.84
|
192
|
|
Less
: Interest
|
|
2,546.37
|
2,135.03
|
19
|
|
4,626.19
|
3,878.51
|
19
|
|
7,825.65
|
7,541.36
|
4
|
|
Add:
Other un-allcoable
|
|
2,415.09
|
571.35
|
323
|
|
3,403.54
|
1,442.26
|
136
|
|
4,649.02
|
1,890.21
|
146
|
|
PBT
|
|
-588.71
|
18,412.76
|
PL
|
|
4,252.33
|
37,862.87
|
-89
|
|
57,287.79
|
15,037.69
|
281
|
|