We were able to leverage our formidable supply chain to meet the challenge of making BS-III and IV compliant fuels available at the pump nozzle. Our efforts to build the petrochemicals business gained traction with logistics and channel partners firmly in place. We covered vital ground in the alternative energy business too. However, the year was also a test of perseverance as we had to contend with negative margins at the pump nozzle. Despite the decontrol of petrol prices during the year; Diesel, LPG and Kerosene prices continue to be regulated. Our skills in logistics & supply chain management and proficiency in completion of tough tasks in adverse conditions was tested, despite which we turned in excellent performance. In recognition of our performance, the Government has accorded us with the Maharatna status.

During the period, IndianOil sold 66.8 million tonnes(MMT) of petroleum products, registering a volume growth of 3.1 MMT(4.9%) over the previous year, with a market share of 54.5% amongst PSUs. We retained our leadership in refining with our group capacity increasing from 62.7 MMTPA to 65.7 MMTPA. Overall, a capacity utilization of 102% was achieved by our refineries with coordinated efforts of Corporate Office, Marketing, Pipelines, R&D and Refineries Divisions. IndianOil Pipelines registered an excellent performance with operational throughput of 67.3 million tonnes of crude oil and petroleum products, which is an increase of 5.2% over the previous year.

As we come to the end of the financial year, we can look back with the satisfaction of a job well done. But the challenges remain, even as we walk the tightrope between meeting the growing energy needs of the nation and generating an equitable surplus through profits. We need to make more efforts and find sustainable and long term strategies to retain our leadership in the future.