Q3 2025 Indian Oil Corporation Ltd Earnings Call Transcript
Key Points
- Indian Oil Corp Ltd (BOM:530965) achieved a profit after tax of INR2,874 crore in Q3 FY25, a significant increase from INR180 crore in the preceding quarter.
- The company reported historically highest sales volume and strong operational performance despite global volatilities.
- Indian Oil is investing INR72,000 crore to enhance its refining capacity by 25% and expand its marketing and pipeline infrastructure.
- The company is transforming its retail outlets into energy stations, offering a range of fuel options including LNG, CNG, and EV charging stations.
- Indian Oil is committed to achieving net zero emissions by 2046 and plans to build a renewable energy portfolio of 31 gigawatts by 2030.
- The company's profit after tax for the nine months of FY25 was significantly lower at INR5,697 crore compared to INR34,781 crore in the same period of FY24.
- Indian Oil faced inventory losses and exchange losses in Q3 FY25, impacting its financial performance.
- The depreciation of the Indian rupee against the US dollar has increased exchange losses due to high import dependency for crude oil.
- The company has increased its borrowings by INR15,000 crore as of December 31, 2024, mainly due to LPG under recoveries and higher working capital.
- There is concern among investors about the impact of LPG under recoveries on the company's earnings and market capitalization.
Ladies and gentlemen, good day, and welcome to the Indian Oil Corporation Limited Q3 FY25 earnings conference call hosted by Antique Stockbroking Limited. (Operator Instructions) I now hand the conference over to Mr. Varatharajan Sivasankaran from Antique Stockbroking. Thank you, and over to you.
Thank you, [Loba]. A very good morning to everyone. It's my pleasure to welcome the IOCL management. We have with us and the participants to this call. We have with us Mr. Anuj Jain, Director Finance; Mr. R.V. N. Vishweshwar, ED, Corporate Finance; Mr. Pramod Jain, CGM, Treasury; and Mr. Prabhat Himatsingka, GM, Treasury.
Without much ado, I hand over the floor to Mr. Anuj Jain for the opening remarks.
Thank you. Dear investors and analysts, a very good morning and a very happy New Year to all of you. I take this opportunity to welcome all of you to the conference call
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