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Corporate Results - Detailed News
Indian Oil
18-May-19   14:41 Hrs IST
Indian Oil reported revenue from operations of of Rs 605924 crore for the Financial Year 18-19 as compared to Rs 506428 crore in corresponding Financial Year 17-18. The Net Profit for the financial year ended 31st March 2019 is lower at Rs 16,894 crore as compared to Rs 21,346 crores during the corresponding year mainly on account of exchange losses and lower inventory gain during current year.

The reported revenue from Operations of Indian Oil is Rs1,44,472 crore in Q4 18-19 as compared to Rs 1,36,716 crore in the corresponding quarter of FY 17-18. Profit for the fourth quarter of FY 18-19 is Rs 6,099 crore as compared to Rs 5,218 crores in the corresponding quarter of FY 17-18. The variation is majorly on account of exchange gain during the quarter.

Indian Oil Chairman, Mr. Sanjiv Singh, said, IndianOil sold 89.894 million tonnes of products, including exports, during the financial year 2018-19. Our refining throughput for FY 18-19 was 71.816 million tonnes and the throughput of the Corporation's countrywide pipelines network was 88.527 million tonnes during the year. The gross refining margin (GRM) during the year 18-19 was US$ 5.41 per bbl as compared to US$ 8.49 per bbl in corresponding financial year.

For the fourth quarter of FY 18-19, Indian Oil's product sales volumes, including exports, was 22.638 million tonnes The refining throughput was 17.351 million tonne in Q4 18-19 and the throughput of the Corporation's countrywide pipelines network was 21.227 million tonne during the same period.

Standalone Quarterly Results

Indian Oil net sales rose 8% to Rs 126214.07 crore for the quarter ended March 2019 compared to corresponding previous year period. This included subsidy from the government of Rs 576.38 crore down 39% on a y-o-y basis. Excluding compensation from the government net sales of the company rose 8% to Rs 125637.69 crore.

OPM of the company stood at 8.6% compared to 9.3% in the corresponding previous year period. As a result operating profits reported was down 1% to Rs 10875.86 crore.

Other income rose 327% to Rs 1059.45 crore. Interest cost remained flat at Rs 1244.22 crore. Depreciation rose 6% to Rs 2056.7 crore. PBT was up 7% to Rs 8634.39 crore. Tax expense was Rs 2535.12 crore compared to tax expense of Rs 2814.75 crore. PAT rose 17% to Rs 6099.27 crore.

Standalone Year ended results

For year ended March 2019 Indian Oil net sales rose 24% to Rs 527692.69 crore compared to corresponding previous year period. This included subsidy from the government of Rs 4110.18 crore up by 29% on a y-o-y basis. Excluding compensation from the government sales of the company rose 29% to Rs 4110.18 crore.

OPM of the company stood at 6.4% compared to 9.4% in the corresponding previous year period. As a result operating profits reported was down 15% to Rs 33823.73 crore.

Other income fell 8% to Rs 3128.51 crore. Interest cost rose 24% to Rs 4311.03 crore. Depreciation rose 6% to Rs 7514.29 crore. PBT fell 23% to Rs 25126.92 crore. Effective tax rate decreased to 33% from 34%. PAT was down 21% to Rs 16894.15 crore.

The scrip is currently trading at Rs 149.7

Indian oil: Standalone results

 

Particulars1903 (03)1803 (03)Var (%)1903 (12)1803 (12)Var (%)
Net Sales125637.69116405.598523582.51420842.3624
Budgetary support576.38946.42-394110.183196.3429
Income from operations126214.07117352.018527692.69424038.7024
OPM (%)8.69.36.49.4
OP10875.8610967.38-133823.7339699.38-15
Other Income1059.45248.103273128.513414.62-8
PBDIT11935.3111215.48636952.2443114.00-14
Interest (Net)1244.221249.0004311.033482.7124
PBDT10691.099966.48732641.2139631.29-18
Depreciation2056.701933.6367514.297067.016
PBT8634.398032.85725126.9232564.28-23
Tax expense 2535.122814.75-108232.7711218.16-27
PAT6099.275218.101716894.1521346.12-21
EPS*25.922.217.922.7
* Annualized on current equity of Rs 9414.16 crore. Face Value: Rs 10
Var. (%) exceeding 999 has been truncated to 999
LP: Loss to Profit PL: Profit to Loss
EPS is calculated after excluding EO and relevant tax
Figures in Rs crore
Source: Capitaline Corporate Database

Indian Oil: Segmental results

 

Particulars1903 (03)1803 (03)(%) of TotalVar (%)1903 (12)1803 (12)(%) of TotalVar (%)
Segment Revenue
Sale of Petroleum Products139919.68131663.33956587739.17489582.199520
Sale of Petrochemicals4862.215099.013-521182.8218059.16317
Other Businesses1951.202373.251-188784.877279.26121
Net Sales146733.09139135.591005617706.86514920.6110020
Less: Intersegment Revenues2260.762419.49-711783.098493.0239
Total Revenues144472.33136716.106605923.77506427.5920
Segment Results
PBIT
Sale of Petroleum Products7784.526906.96931322165.5127601.5283-20
Sale of Petrochemicals620.591443.977-574197.705226.2216-20
Other Businesses-46.63261.11-1LP370.20407.821-9
Total Segment Results8358.488612.04100-326733.4133235.56100-20
Capital Employed
(Segment Assets less Segment Liabilities)
Sale of Petroleum Products140288.28111780.278826140288.28111780.278826
Sale of Petrochemicals16040.1914108.10101416040.1914108.101014
Other Businesses2650.391802.532472650.391802.53247
Total Capital Employed in Segments158978.86127690.9010025158978.86127690.9010025
Add: Others (Corporate)-50321.35-17519.88-50321.35-17519.88
Total Capital Employed108657.51110171.02-1108657.51110171.02-1

Indian Oil: Physical Performance

 

Product Sales1903 (03)1803 (03)Var (%)1903 (12)1803 (12)Var (%)
- Domestic (including Gas sales )21.66620.795484.6581.4894
- Export0.9721.764-455.2447.274-28
Refinery Throughput17.35117.152171.81669.0014
Pipelines throughput21.22722.562-688.52785.6753
Figures in million metric tonne

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