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indian oil thing1TRANSCRIPT
Indian Oil CorporationInvestor Presentation
June 2011
Indian Oil Corporation: ‘The Energy of India’
1 Company Overview
2
3
4
5
Attractive Market
Dominant Market Leader: ‘The Energy of India’
Well Defined Strategy
Strong Operating & Financial Performance
6 Conclusion
2
Company Overview - Corporate History
MergerIndian Refineries Ltd. Indian Oil Company Ltd.
1958 1959
Indian Oil Corporation Ltd. 1964Integrated Refining and Marketing company in PSU domain
Companies Merged
Assam Oil Company IOBL IBP Co. Ltd BRPL
1981 2006 2007 2009
3
Company Overview – Brief Description
Highest‐ranked (125) Indian Company in Fortune Global 500
Board Structure Shareholding Pattern
India’s largest commercial enterprise
Largest refiner
Largest marketing infrastructure
Largest pipeline network
Notes1. Shareholding pattern as on 31st March’11
4
Company Overview – Brief Description
Core Business: R&M(1)
Operates 10 refineries with a total production capacity of 65.7 MMT
Operates a 10,899 km long product and crude pipeline network as well as maintains a marketing network with ~ 37,000 touchpoints
Diversification
Investing in wider petrochemical product slate Gas distribution – CGD, LNG at Doorstep etc E&P through equity interest in blocks across the world Power generation through renewable sources of energy
BusinessDescription
INR Bn unless specified FY 10
2,711
189
6.9%
33.9%/20.2%
0.88x
31.0%
FY 11
3.287
163
4.9%
15.6%/ 13.5%
0.95x
31.0%
Revenue
EBITDA
FinancialSummary
EBITDA Margin (%)
ROA/ ROE (%)
Debt/ Equity (x)
Dividend Payout Ratio (%)
Higher EBITDA in FY’10 due to higher inventory & exchange gains.
Notes1. As on 31st Mrch’11, including refineries operated by IOCL’s subsidiaries
5
Company Overview – Proven Track Record
IOCL formed through merger of Indian Refineries Ltd & Indian Oil Company Ltd
[Becomes first Indian oil & gas] company to establish Research & Development Center
Company enters into LPG business through a JV with Petronet LNG
Becomes the first Indiancompany to cross the INR1,000 Bn [turnover] mark
Enters petrochemicalbusiness by commissioning the world’s largest single train kerosene to LAB unit
IOCL’s Mathura refinery becomes India’s firstrefinery to produce Euro-III Compliant diesel & petrol
Commissioned India’slargest Naptha Cracker Complex
1964 1972 1994 1997 2000 2003 2004 2005 2010
First petroleum product pipeline commissioned:Guwahati-Siliguri pipeline
Commissions India’s firstHydrocracker unit
Entry into E&P business, is awarded twoexploration blocks under NELP-I
First Indian petroleum company to startoverseas retail business
Company enters into the gas business
IOCL is top nationaloil company in Asia Pacific
Awarded “Maharatna"status by the Govt. of India
Track Record: Rapid Growth Consistently
Net Worth & Revenues
(INR Thousand Crore)
Refining Capacity: 65.7 MMT
(MMT)
Total Length of Pipeline Network: 10,899 Kms
Kms (‘000)
350
300
250
200
150
100
50
0
1970 1980 1990 2000
Netw orth
0.6 4.5 17.5
CAGR16.5%
328.7 60
50
40
30
75
60
45
3015.8
15
0
1970 1980 1990 2000
7.8
CAGR5.3%
65.7
47.5
12
10
8
64.0
42.0
2
0
0.4
1964 1975 1985 1995 2005
CAGR7.3%
10.9
9.0
5.494.1 20
10
0
2011
28.0
Turnover 2011 2011
6
Attractive Market: Large Potential in India
Source BP Statistical Review of World Energy June 2011,
7
Attractive Market: Large Potential in India
India One of the Fastest Growth in Oil Consumption
2009‐14E CAGR (%)
5%
4%
4.8%4.1%
.. Leading to Large & Growing Petroleum Product Consumption in India
(MMT)
(1)
142
140 1383%
2%
1%
0%
China
15
2.6%
133
0.5%0.3%
130 129
India Asia Pacific N. America OECD
121.. Refinery Through Put …..% Change in 2010 over 2009
13.4 (1)
120
12
9 1127.2
6.1
113
110
2.9
6
32.7
0.5
0
China
-3
Source
108
-0.2
100
India Africa Middle East
US Europe Japan FY 04
Source
FY 05 FY 06 FY 07 FY 08 FY 09 FY'10 FY'11
BP Statistical Review of World Energy June 2009, & 2011 Petroleum Planning and Analysis Cell, Ministry of Petroleum and Natural Gas, Govt. of India
Note:1. Figure for FY’11 is provisional
8
Dominant Market Leader: ‘The Energy of India’
1
2
3
The Leader: #1 Refiner in India
‘India’s Energy Lifeline’ – Dominant Pipeline Network
Unparalleled Market Reach
9
Simply – The # 1 R&M Player in India
#1: Largest refiningcapacity in India:about 35% marketshare#1: Highest petroleumproducts market share:46% Refining
#1Marketing
#1: 54% of totalconsumer touch points
Notes1. As on 31st March 2011
Pipeline
#1:87% downstream market share in crude oil pipelines#1: Largest provider ofpipelines for petroleumproducts: about 49%downstream marketshare
#1: 89% market share ofbulk consumer pumps
#1: 52% market share inLPG dealership
10
1 Refining Capacity: Strategically Located Close to Profitable Markets
•• Access to high demandAccess to high demand market of North Indiamarket of North India•• Highest refining capacityHighest refining capacity in this regionin this region
Barauni: 6.0 MMT
Panipat: 15 MMT
Digboi: 0.7 MMT
•• Refineries benefit fromRefineries benefit from excise duty concessionsexcise duty concessions•• Ability to supply to NorthAbility to supply to North India markets at low cost byIndia markets at low cost by leveraging pipeline networkleveraging pipeline network
Guwahati: 1 MMTMathura: 8 MMT
Bongaigaon: 2.4 MMT
Koyali: 13.7 MMT
Haldia: 7.5 MMT
Paradip: 15 MMT
Chennai: 10.5 MMT
Narimanan: 1.0 MMT
Installed capacity (IOC) :Refinery (under construction) :Subsidiaries :
54.215.011.50
Refineries owned and operated by IOCL’s subsidiary - CPCL
Operational refineries of IOCL
Under-construction refinery of IOCL
11
1 The Leader: #1 Refiner in India
Key Highlights
Indian Oil Corporation operates 10 of India’s 20 refineries
The Company accounts for about 35% of the total domestic refining capacity
Technologically [advanced] refineries – Flexibility to switch between various production processes and grades of crude oils – Each refinery is a cracking refinery with moderate conversion capacity
All the refineries are Euro III / IV compliant (Bongaigaon Refinery expected to be compliant by Jul’11)
Diverse product basket: – Refined petroleum products such as high speed diesel, jet fuel, SKO, light petroleum gas, gasoline, bitumen, heavy fuel oil & naphtha – Petrochemical products such as LAB, Px/PTA, polymers – Lubricants and greases
Dominant Market Leader(1)
Refining Capacity (MMT)
75.0
60.0
45.0
30.0
15.0
0.0
65.762.0
24.5
14.811.9 10.5
IOC
55.0
RIL BPCL HPCL ONGC Essar
Throughput (MMT)53.0
51.4
50.0
47.4
50.7
45.0 44.0
40.0
FY07 FY08 FY09 FY10 FY11
More than 100% capacity utilization for last 5 years
Notes1. As on 31st March 2011
12
Pipelines…India’s Energy Life Line
Jalandhar
Ambala Roorkee Sangrur Najibabad Panipat Meerut Rewari Dadri Delhi Sanganer Mathura Ajmer BharatpurJodhpur Tundla Lucknow Chaksu
Bhatinda
Kot
Sidhpur KandlaMundra Vadinar
ViramgamDahej
HaziraRaipur
Paradip
Kanpur Chittaurgarh Ahmedabad RatlamNavagamKoyali
IndianOil owns and operates India’s Largest network of crude & product pipelines Getting closer to the clients with increasing length
Tinsukia
Siliguri BongaigaonDigboi
GuwahatiBarauni
RajbandhRanchi Durgapur Budge Budge Maurigram
Haldia
Pipelines (Existing ) Product
Crude OilLPG PipelineR-LNG Pipeline
Bengaluru
Chennai
Sankari Asanur
Trichy
Pipelines (Ongoing)
Product
LPG Pipeline
As on 1.4.2011Madurai
13
Pipelines……
Throughput (Million tonne)Length (KM) Capacity
(MMTPA)
40.40
34.86
75.2630
70
59.657.1
51.760
64.567.8
Crude Oil
Product
TOTAL
Gas
* MMSCMD
4,366
6,401
10,767
132
50
40
32.435.8 38.2
41.542.4
Crude oil
Product
10* 20
10
0
FY07FY08FY09Capacity Utilization (%)
10095.8
19.3 21.3 21.4 23 25.4
FY10 FY11
Market Share (Downstream) 95
90
93.3
90.6
88.0
91.6
Crude Oil
Product
87%
49%
85
80
75
70
FY07 FY08 FY09 FY10 FY11
14
Marketing…
Marketing Touch Points ( about 37,000)
Aviation Fuel Stations (96)LPG Bottling Plants (89) SKO/LDO Dealers (3,960)
ChandigarhBulk Consumer Pumps (7,780)
Terminal/Depots (140)
No.1 oil marketingcompany in INDIA
LPG Distributors (5,456)
Delhi
Jaipur
NOIDA
Lucknow
Patna
Bhopal
Guwahati
LPG Customers (61.8 million)
Retail Outlets (19,463 including 3,517 KSKs)
IOC has share of about 54% in Marketing Infrastructure
Ahmedabad Bhubaneswar Kolkata
Regional Offices:State Offices:Divisional Offices Retail: Consumer :Indane Area Offices :
416
663445
Mumbai
Secunderabad
Bengaluru
Chennai
As on 1.4.2011
Kochi 15
Marketing - Sales
Product Sales (MMT)
70.3
70
Rural Penetration : Contributing towards inclusive growth
67.5
64.5
4.5
5
60.8
60
3.6
56.5
3.1
3.3
Export
6365.3 Domestic
5057.5
53.4
60.9
40FY07 FY08 FY09 FY10 FY11
Petroleum Products Market – % Share(1)
IOCL
BPCL
HPCL
RIL
Others
(1) Market
46
20
18
8
KSK Sales (MS & HSD) - % of total IOC’s Sales (MS & HSD )
9
share of other companies is provisional
16
No. of KSKs commissioned during the year
IndianOil in Every Part in Every Heart
North East Along, Passighat, Ziro
Leh, Kargil, Lahaul Spiti
Andaman, Nicobar, Lakshadweep
Only oil company operating in every part of India
Himalayas
Islands
Retail Outlet at Boat house Kisan Seva Kendra outlets for extending rural reach
Modern XTRAcare ROs
17
Well Defined Strategy
1ReinforcingCompetitiveAdvantage
Building capacity of core refining and pipeline business
5
Increasing Quality &Operational Flexibility Drive flexibility andefficiency of production capabilities
2Investing in the Future
Facilitating R&D and innovation to lead future growth
4Diversification
Geographic andproduct expansion to develop sustainable profits
3 Integration led Value EnhancementBackward & forward integration for maximum value capturing
18
R & D – Providing Cutting Edge
Established in 1972 , Currently 438 scientists & support staff
LubricantTechnology
Biotechnology,Nanotechnology,Alternative Energy
RefiningTechnology
Fuel Additives
Hydrogen &Gasification
Polymers & Petrochemicals
19
5 Investing in the Future – R&D/ Innovation
Focus of R&D The major thrust for R&D in next decade would be
– Reducing the carbon footprint of IOCL’s processes, products andtechnologies; endeavour to reduce Company’s emissions by 20% to 25%from current levels
Licensing the Company’s technologies on a larger scale
Application of nano-technology
Development of superior, high performance catalyst and lubricant additives
Improvement of overall efficiencies
Advances in Products INDMAX:
– Facilitates maximization of LPG and light distillates from refinery residue– Aims to install a 4 MMTPA unit as a part of the refinery/ petrochemicals complex at Paradip by 2012Marine Oils: One of only six oil companies globally to have indigenouslydeveloped “original equipment manufacturer-approved marine lubricantstechnology”Needle Coke:– One of three companies in the world that possess the technology to make high value needle coke for application in graphite electrodes for steel- making.– Technology has been commercialized in Bongaigaon and Guwahati Refineries
–
–
–
–
Investment in R&D
(INR MM)
Active Patents by Geography Active Patents by Division
2,000
1,510
Others
25%
Others
Lubes
39%19%
1,000
567
26195
0
FYE 07 FYE 08 FYE 09
942 India
52%
42%USA
23%Refinery
FYE 10 FYE 11
Budgeted Estimate For FY11
20
Forward Integration - Petrochemicals
India’s one of the major petrochemical player
Assets : Value addition to downstream business
21
Diversification to Gas Business
Gas Sales and Turnover(1)
Stakeholderin M/sPetronet LNGLimited (PLL)
City GasDistribution(CGD)
4
3.5
3
2.5
Sales Volume(MMT)
4,001
Turnover (INR Crore)
4500
4000
3500
2,990
3000
2,8842500
2000
1500
LNG atDoorstep
ProposedLNG terminalof 5 MMTPAat Ennore
21746
2078
1.5
11.63
2.30
1.91 1.85 1.90 1000
500
0
0.5
02006 07‐ 2008 09‐ 2010 11‐Gas
pipelines
(1) Includes sales to IOC’s refineries
22
Upstream Integration - Exploration & Production
Discovered:Domestic Blocks – 3Overseas Blocks: 3 (Farsi (Iran), OML 142 (Nigeria),Carabobo Project 1 (Venezuela))
Domestic Blocks : 13
NELP (11), CBM : (2)
Awarded two S type blocks in Cambay basinwith 100% participating interest andoperatorship.
For domestic blocks participated mainly with OILand ONGC
For overseas blocks participated mainly with OVLand OIL
Carabobo Project 1, Venezuela: PdVSA (60%),Repsol (11%), Petronas (11%), OVL (11%); OIL(3.5%), IOC (3.5%)
Total investment so far in E&P - INR 1,536* crore
(*As on 31.3.2011)23
Overseas Blocks :10
Libya (3), Iran (1), Yemen (2), Nigeria (1),Gabon (1), Timor-Leste (1) & Venezuela (1)
Diversification - Clean Energy
WIND SOLAR NUCLEARBIOFUELS
5 MW Solar Power Plant
WindPower Project
• Commissioned atKachchh, Gujaratin January 2009
• Capacity : 21MW (14 WEGsof 1.5 MWeach)
• IOCL won bid to set up 5MW Solar PV Power Plantat Barmer, Rajasthan underJawaharlal Nehru NationalSolar Mission
Nuclear Power
• JV Companyincorporated toput up NuclearPower Plants inIndia
Equityparticipation(26%) inRawatbhata(RAPP 7/8,700*2 MWs)Rajasthan
Energy CropPlantation
• Captive plantation for Jatropha in India
• Chhattisgarh, Jhabua, MP : 6070Ha
• UP: Plantation under MNREGS funded Public-Private- Panchayat Partnership (P4) model: 10 ha completed
• Proposed to extend plantation upto 50,000 ha.
Empowering Rural India
• Over 30,000 solar lanternsold from Retail Outlets(ROs), LPG Distributors forlighting rural home / shops
For poorer villagers, 3Solar Charging Stationsinstalled at pilot basis tocentrally charge lanternsfor renting to customers
•
• Considering furtherinvestment in windpower projects
•
24
Subsidiaries - Beyond Boundaries
••••
75.11 % stake holdingStorage, Terminaling and Retail tradeTurnover (2010-11) INR 2090 croreRanked No. 1 Company in Sri Lankaby Lanka Monthly Digest for thethird consecutive year
Lanka IOC Limited,Sri Lanka (2002)
Major OVERSEAS IndianOilIOC Middle SUBSIDIARIES Mauritius East FZE,Dubai (2006)
•100% stake holding
•Aviation, Retail, Storage, Quality Assurance
•Turnover (2010-11) INR 841 crore
Limited,Mauritius (2001)
•100% stake holding
•Sale of Lubricants in Middle East countries
•Turnover (2010-11) INR 77 crore
•3rd largest petroleum company in Mauritius
25
Subsidiaries & JVs
DomesticSubsidiaries IOT Infrastructure & Energy Services Ltd (50%, 1996)
Avi‐Oil India Pvt. Ltd (25%, 1993)Petronet LNG Ltd. (12.5%, 1998)
IndianOil CREDA Biofuels Limited(2009)
74 % StakeholdingAmount ofInvestmentby IOC: INR0.74 crore
•
•
Chennai Petroleum Corporation Limited (2001*)•51.89% stake holding•PAT (2010-11): INR 512 crore•Amount of Investment by IOC: INR 509.33 crore•Refining Capacity: 11.5 MMTPA
MajorMajor JointJointVenturesVentures
IndianOilPetronas Pvt. Ltd. (50%, 1998)
Lubrizol India Pvt. Ltd.(50%, 2000)
Green Gas Ltd. (25%, 2005)
IndianOil Skytanking Ltd. (33.33%, 2006) Indo Cat (P) Ltd. (50%, 2006)
* Became subsidiary of IndianOil
26
Financial Performance
27
Financial Performance
TURNOVER
(INR / bn)
3,500
3,000
2,4752,500
2,000
1,500
FY07 FY08 FY09 FY10 FY11
2,208
2,854
3,287
EBITDA(1)
(INR / bn)
200
175
1502,711 125
100
75
50
25
0
FY07 FY08 FY09 FY10 FY11
146 143
113
189163
NET PROFIT
(INR / bn)
125102
100
7575
5030
25
0
FY07 FY08 FY09 FY10 FY11
70 74
NET WORTH
(INR / bn)
600
506
500
411
400
300
200
FY07 FY08 FY09 FY10 FY11
349
553
GRMs(3)
($/ bl)
PIPELINES EBITDA(2)
(INR./ bn)
10.0
8.0
9.0 40
355.9
35
33
29
2525
20
26
440
6.04.2
4.0
2.0
0.0
FY07 FY08 FY09 FY10
3.74.5 30
FY11 FY07 FY08 FY09 FY10 FY11
(1)Including interest income(2)Excluding interest income
(3)GRM’s for FY’07 & FY’08 does not include Bongaigaon GRMs
28
Financial Performance
Total Debt to Equity
1.2
1.0
0.8
0.6
0.4
0.80.9
Long Term Debt to Equity
(x)
Debt to Investments Ratio(1)
1.40.3
(x)
1.0
0.9
0.4
0.95
0.3
0.2
0.1
0.30.3
0.4 0.41.3
1.1 1.11.21.0
1.0
0.8
0.6
0.4
0.2
0.9
0.2
0.0
FY07 FY08 FY09 FY10 FY11
0.0
FY07 FY08 FY09 FY10 FY11 0.0
FY07 FY08 FY09 FY10 FY11
Investments(1)
(INR Bn)
Fixed Assets
(INR Bn)
Contribution to Central Exchequer(INR Bn)
450
400
350
300
250
200
150
100
FY07 FY08
315
361
424402
1,100387
1,000
900
800
700
600
500
400
660592
805
934
1,058 400
300
200
100
0
284
342
259 265
397
FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY11
Note1. Investments include Market Value of shares held in ONGC Ltd., GAIL (India) Ltd., OIL India Ltd., shares held in Trust formed for merger of IBP Co. Ltd. and Bongaigaon Refinery &Petrochemicals Ltd and Special Oil Bonds
29
Compensation of Under Realization
INR Thousand Crore
Oil Bonds / Budgetary Support #
Discount from Refiners
Discount from Upstream Companies
Net Under Realization
58.6
43.1
40.4
43.1
28.6 19.022.6
TOTALGOVT. OFINDIASUPPORT
25.8
13.9
0.614.3
18.2
9.8
15.2
16.7
7.5
3.1 3.8
11.9
2.2
FY07 FY08 FY09 FY10 FY'11
# Oil Bonds till FY09; Budgetary Support during FY’10 & FY’11
30
Investments - Fuelling the growth
Five Year Plan
INR crore
11th Plan(Anticipated)
Capital Expenditure
52,0002007-08
PlanExpenditure
Non PlanExpenditure
2008-09 2009-10
5,142 10,353 12,256 9,831
INR crore
2010-112011-12*
14,500
1,874
7,016
1,678
12,031
2,007
14,263
2,588
12,419
4,440
18,9409th Plan 10th Plan Total
* Budgeted Estimate
12,886 17,930
31
Major ongoing projects
Projects-RefineryAnticipated Outlay (INR crore)
29,777
294
1,646
1,000
Objective
To meet domestic demand & export of surplusproduct
To produce BS-III quality MS
To produce BS-III quality HSD
To increase processing capacity of unit from 1.3 to 1.5MMTPA & maximize production of value addedpropylene
Designed to produce 138 MTPA of Butadiene to beused as feedstock for SBR project at Panipat
AnticipatedCompletion
Nov’12
July’11
June’11
Jan’13
Paradip Refinery
MS Quality Upgradation Project atBongaigaon Refinery
DHDT at Bongaigaon Refinery
Fluidized Catalytic Cracking Unit atMathura Refinery
Butadiene Extraction Unit at Panipat
Total (a):
342
33,059
Feb’13
Projects-Pipelines
Branch pipeline from KSPL, Viramgam to Kandla
Paradip-Sambalpur-Raipur-Ranchi pipeline
Debottlenecking of Salaya-Mathura crude pipeline
Integrated crude handling facilities at Paradip
Tanks and Blending facilities at Vadinar
Paradip-Haldia-Durgapur LPG pipeline
Total (b) :
Other Projects (c)
TOTAL (a+b+c)
Anticipated Outlay (INR crore)
349
1,793
1,584
1,493
267
913
6,399
5,600
45,058
Anticipated Completion
Dec’11
Sep’12
Dec’12
Jun’12
Oct’11
Dec’13
32
Human Capital: Assets of IndianOil
33 33 33
Human Capital: Assets of IndianOil
34,105
IndianOilPeople…… towards excellenceAs on 31.3.2011
34
Human Capital - Assets of IndianOil…
IndianOil People…… towards excellence
35
IndianOil: Beyond Business
36
Sustainable Development
Water management
Green fuels
IndianOilInitiatives
Emissions control
Tree plantation Effluent treatment
CDM projects
37
Care for Environment
Environment Management Systems at refineries, pipelines and major marketinginstallations certified under ISO-14001 standards
Best procedures & practices of industry in place at all operating units to takecare of Safety, Occupational Health & Environmental Issues
Expected to generate 60,000 CERs per annum through various CDM projectsplanned in refineries
Decline of ~22% is witnessed in effluent discharge (per TMT of crude oil) fromrefineries in 2010-11 compared to 2009-10.
38
Corporate Social Responsibility
LPG connections to BPL families under RGGLVY (20%)
2% of retained profit of previous year for CSR Indian Oil Foundation
Scholarships (30%)
Community Development: (30%)(Education, Health & Drinking water)
National causes &Natural calamities (35%)
Contributions/Donations (5%)
39
Conclusion
1
2
3
4
Delivering on Key Success Factors
The # 1 R&M Player in India
Integrated Operations
Strong Performance
40
1 Conclusion – Delivering on Key Success Factors
Key Success Factors Indian Oil Corporation Positioning
Feedstock
Long term contracts to build access to feedstock INR 15 bn invested in E&P blocks; Reserves identified in six blocks
41
Integration
Increasing equity investment in E&P to create integrated projects Indian market leadership in refining and marketing Capacity enhancement to produce diversify petrochem product slate
In-house state of the art R&D facilities Largest refining capacity in the country Recently commissioned India’s largest Naphtha Cracker Unit
ManufacturingExcellence and Scale
Access to Key Markets
Ideally positioned for growth in India Access to key markets in Asia Pacific
Logistics/Distribution
Largest crude and product pipeline network in the country Maximum number of customer touchpoints in the Indian petroleum industry
2 Conclusion – The # 1 R&M Player in India
Refining Capacity
(MMT)
75. 06 5. 7
6 2 .0
6 0 .0
Crude Pipelines
(MMT)
50
4040
Retail Outlets
(No.)
6.7x2 0 ,0 0 0
16 ,0 0 0
19 ,4 6 3
1.1x 1.9x
4 5. 0 30
20
14 .812 .0
12 ,0 0 0
8 ,0 0 0
10 ,2 129 ,2 9 0
3 0 .0 2 4 .5
15. 0 10 . 5 10
0
6 4 ,0 0 0
00 .0
IOC R IL B PC L HPC L Essar O N GC IO C L O t he r do wns t re a m P S U IO C L HP CL BP CL
Domestic Sale of Petroleum Products
(MMT)
7565
60
Product Pipelines
(MMT)
4035
30
LPG Distributors
(No.)1.4x 2.1X
6 ,0 0 0 5 ,4 5 62.2x
264 ,0 0 0
2 ,6 3 3
10 2 ,0 0 0
2 ,4 5 2
45
3028
20
26
1015
0
IO C L BP CL HP CL
0
IO C L HP CL BP CL
0
IO C L HP CL BP CL
42
3 Conclusion – Integrated Operations
PetrochemicalsGas
Refining Wind
Nuclear
Pipelines
Solar
Marketing
43
4 Conclusion – Strong Performance
Growth Rates Margins & Returns
5yr CAGR Growth Rates
Asset Base : 14.6%
Performance Turnover : 12.4%
Net worth: 13.6%
Refining capacity: 5.6%
Pipelines capacity: 4.6%
Margins & Returns
FY11 EBITDA margin of 4.9%
FY11 ROE: 13.5%
FY11 ROA: 15.6%
Capital Structure: Virtually Debt Free
Long Term Debt to Equity
(x)
Debt to Investments Ratio(1)
0.4 0.4
(x)1.4
1.1 1.1
0.4
0.3
0.3
0.2
0.1
0.0
FY07 FY08
0.3
1.4
0.31.2
1.01.0
0.8
0.6
0.4
0.2
0.0
0.9
FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY11
Notes1. [Investments include Market Value of shares held in ONGC Ltd., GAIL (India) Ltd., OIL India Ltd., shares held in Trust formed for merger of IBP Co. Ltd. and
Bongaigaon Refinery & Petrochemicals Ltd and Special Oil Bonds
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