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{{Short description|Sri Lankan subsidiary of Indian Oil Corporation}}
{{Orphan|date=March 2017}}
{{Use dmy dates|date=October 2021}}
{{Infobox company
{{Infobox company
| name = Lanka IOC PLC
| name = Lanka IOC PLC
| logo = Lanka_IOC_logo.jpg
| logo = Lanka_IOC_logo.jpg
| logo_size = 150px
| logo_size = 200px
| logo_caption = The logo of Lanka IOC
| type = [[Public limited company]]
| type = [[Public company|Public]]
| industry = [[Petroleum industry|Oil and gas]]
| traded_as = {{Colombo Stock Exchange|LIOC.N0000}}
| foundation = {{Start date|df=yes|2002}}
| ISIN = {{ISIN|sl=n|pl=y|LK0345N00005}}
| location = [[Colombo]], [[Sri Lanka]] <br />(Sri Lanka Office)<br />[[New Delhi]], [[India]]<br />(Headquarters)
| industry = [[Energy industry|Energy]]
| key_people = Shyam Bohra (Managing Director)
| founded = {{Start date and age|2002}}
| products = [[Fuels]], [[Lubricants]], [[Bitumen]], and other [[petrochemical]]s
| hq_location_city = [[Colombo]]
| homepage = {{URL|http://lankaioc.com/}}
| hq_location_country = Sri Lanka
| key_people = {{Unbulleted list|Ranjan Kumar Mohapatra (Chairman)|Manoj Gupta (Managing Director)}}
| products = {{unbulleted list|[[Fuels]]| [[Lubricants]]| [[Bitumen]]|other [[petrochemical]]s}}
| revenue = {{increase}} [[Sri Lankan rupee|LKR]]281.49 billion (FY 2022-23) <ref>{{Cite web |date=29 July 2023 |title=Annual Report 2022-23|url=https://www.lankaioc.com/wp-content/uploads/2023/06/LIOC-AR-2022_23.pdf |website=www.lankaioc.com}}</ref>
| operating_income = {{increase}} LKR44.1 billion
| income_year = FY 2022-23
| net_income = {{increase}} LKR37.6 billion
| net_income_year = FY 2022-23
| assets = {{increase}} LKR82.2 billion
| assets_year = FY 2022-23
| equity = {{Increase}} LKR61.2 billion
| equity_year = FY 2022-23
| owner = {{unbulleted list|Indian Oil Corporation Limited (75.12%)| J B Cocoshell (Pvt) Ltd (3.00%)| Ceybank Unit Trust (1.13%)}}
| parent = [[Indian Oil Corporation Limited]]
| num_employees = {{Steady}} 159
| num_employees_year = FY 2022-23
| website = {{URL|http://lankaioc.com/}}
| footnotes = <ref name="Annual Report">{{cite web |title=Annual Report 2020/21 |url=https://cdn.cse.lk/cmt/upload_report_file/729_1630410360062.pdf |website=cse.lk |publisher=Lanka IOC PLC |access-date=21 June 2022}}</ref>
}}
}}


'''Lanka IOC PLC.''', [[Indian Oil Corporation|IndianOil]]’s subsidiary in Sri Lanka, is the only private oil company other than the state-owned Ceylon Petroleum Corporation (CEYPETCO) that operates retail petrol / diesel stations in Sri Lanka. Lanka IOC is ranked among the island nation’s leading listed companies.<ref>{{cite web|url=https://lmd.lk/lanka-ioc-2/|title=LANKA IOC|website=Lmd.lk|accessdate=1 December 2017}}</ref>
'''Lanka IOC PLC''' is a [[subsidiary]] of [[Indian Oil Corporation]] which operates retail petrol and diesel stations in Sri Lanka. LIOC is Sri Lanka's only private sector organisation retailing fuels with an island-wide distribution network of 213 retail outlasts. Its headquarters in the [[Colombo|Colombo City]], Colombo.<ref>{{cite web|url=https://lmd.lk/lanka-ioc-2/|title=LANKA IOC|website=Lmd.lk|accessdate=1 December 2017}}</ref>

== History ==
The company was incorporated in 2003 as LIOC. Indian parent company Indian Oil Company owned the majority of LIOC's stock, and N.K Nayyar served as its first chairman.<ref>{{Cite web |title=Lanka IOC PLC : IndianOil Overseas |url=https://iocl.com/lanka-ioc-plc#:~:text=Lanka%20IOC%20was%20incorporated%20in,listed%20company%20in%20Sri%20Lanka. |access-date=2022-09-28 |website=iocl.com}}</ref> Before 2002, petroleum fuel retailing in the country was at the rudimentary level, limited to mere sales of auto fuel only. After the 2002 Sri Lankan Government's decision to liberalise the petroleum sector where the CPC will compete with the private sector. Indian Oil Corporation, will invest Rs. 10 billion (US$62 million for the first phase, US$38 million would be invested in the second phase) in Sri Lanka and will operate 100 fuel stations which it has purchased from the [[Ceylon Petroleum Corporation]]<ref>{{Cite web |last=TamilNet |title=TamilNet |url=https://www.tamilnet.com/art.html?catid=13&artid=9084 |access-date=2022-09-28 |website=www.tamilnet.com |language=en}}</ref> In 2003, Sri Lankan Government give to 15 [[Trincomalee]] oil tanks, on a 35 years lease for an annual payment of US$100,000. In 2022 Sri Lankan cabinet approved to implementation of a development project by a company named Trinco Petroleum Terminal for the remaining 61 tanks, of which 51% will be owned by CEYPTCO and 49% by LIOC. Trincomalee oil tanks farm is estimated to be valued at US$500 million.<ref>{{Cite web |date=2022-01-03 |title=Developing Trincomalee oil tank farm: What the deal means for India, Lanka |url=https://indianexpress.com/article/explained/trincomalee-oil-tank-what-deal-means-india-lanka-7702794/ |access-date=2022-09-28 |website=The Indian Express |language=en}}</ref> The event became known as the 2022 [[2019–present Sri Lankan economic crisis|Sri Lankan economic crisis]] Sri Lanka has faced energy crisis. With no foreign exchange to pay for fuel, Sri Lanka Government was dependent on an Indian line of credit of US$700 million which expired in June. The LIOC to date was enjoying a 16% market share for petrol and diesel in the local market. For lubricants, bitumen and oil bunkering its market share is over 35%. The fuel shortfalls have also led to long lines at petrol and diesel stations over the past months. IOC supply is supported by an Indian Line of Credit of US$500 million.<ref>{{Cite web |date=2022-06-29 |title=Sri Lanka Economic Crisis: IOC Provides Fuel As Government Pumps Go Dry |url=https://www.outlookindia.com/business/sri-lanka-economic-crisis-indian-oil-corporation-ioc-oil-crude-oil-sri-lanka-economic-crisis-ioc-provides-fuel-as-government-pumps-go-dry-news-205475 |access-date=2022-09-28 |website=www.outlookindia.com/ |language=en}}</ref> In August 2022 [[Ministry of Power and Energy|Sri Lanka's Ministry of Power and Energy]] has authorised the establishment of 50 new fuel stations by Lanka IOC.<ref>{{Cite web |date=2022-08-08 |title=Lanka IOC to open 50 new filling stations |url=https://www.newsfirst.lk/2022/08/08/lanka-ioc-to-open-50-new-filling-stations/ |access-date=2022-09-28 |website=Sri Lanka News - Newsfirst |language=en}}</ref>


==Listing and shareholding==
==Listing and shareholding==
Lanka IOC's [[Common stock|equity shares]] are listed on the [[Colombo Stock Exchange]].
Lanka IOC's [[Common stock|equity shares]] are listed on the [[Colombo Stock Exchange]].<ref>{{Cite web |title=Lanka IOC PLC, LIOC.N0000:CSE summary - FT.com |url=https://markets.ft.com/data/equities/tearsheet/summary?s=LIOC.N0000:CSE |access-date=2022-09-28 |website=markets.ft.com}}</ref>

== Finances ==
{| class="wikitable" style="text-align:right;"
!Year
!Revenue
(mil. LKR)
!Net income
(mil. LKR)
!Total assets
(mil. LKR)
!Employees
|-
| align="left" |2003
|1,306
|78
|
|202
|-
| align="left" |2004
|14,533
|588
|
|214
|-
| align="left" |2005
|27,586
|2,331
|
|201
|-
| align="left" |2006
|37,493
|−1,18
|
|202
|-
| align="left" |2007
|32,796
|−636
|
|170
|-
| align="left" |2008<ref>{{Cite web |title=LIOC 2009 |url=https://www.lankaioc.com/wp-content/uploads/2013/08/Annual-Report-2008-2009.pdf}}</ref>
|44,173
|2,516
|23,959
|170
|-
| align="left" |2009
|47,617
|−1,104
|20,453
|171
|-
| align="left" |2010<ref>{{Cite web |title=LIOC annual report 2011/10 |url=http://www.lankaioc.com/wp-content/uploads/2013/08/AnnualReport-2010-11-CSE.pdf |website=ww.lankaioc.com}}</ref>
|50,214
|−397
|17,423
|172
|-
| align="left" |2011
|51,743
|893
|18,988
|173
|-
| align="left" |2012
|60,436
|930
|22,122
|171
|-
| align="left" |2013
|75,111
|2,909
|24,700
|175
|-
| align="left" |2014
|81,793
|4,813
|26,984
|177
|-
| align="left" |2015<ref>{{Cite web |title=LIOC 2015 |url=https://www.lankaioc.com/wp-content/uploads/2013/08/Financial-Report-2015-16.pdf}}</ref>
|79,901
|1,886
|23,541
|174
|-
| align="left" | 2016
|71,307
|2,239
|25,068
|172
|-
| align="left" | 2017
|81,039
|3,065
|25,494
|172
|-
| align="left" |2018<ref>{{Cite web |title=LIOC 2017 |url=https://www.lankaioc.com/wp-content/uploads/2020/10/Lanka-IOC_AR-2019_20.pdf}}</ref>
|91,343
|−744
|32,959
|172
|-
| align="left" |2019
|86,322
|403
|28,245
|172
|-
| align="left" |2020
|81,947
|422
|39,760
|164
|-
| align="left" |2021
|66,686
|883
|46,407
|151
|-
| align="left" |2022
|89,951
|4,818
|65,070
|153
|}


==References==
==References==
Line 24: Line 178:
*{{official website|http://www.lankaioc.com/}}
*{{official website|http://www.lankaioc.com/}}


{{S&P SL20}}
[[Category:2002 establishments in Sri Lanka]]
{{All Share Price Index}}

[[Category:Indian Oil Corporation]]
[[Category:Indian Oil Corporation]]
[[Category:Oil and gas companies of Sri Lanka]]
[[Category:Oil and gas companies of Sri Lanka]]
[[Category:Publicly traded companies of Sri Lanka]]
[[Category:Companies listed on the Colombo Stock Exchange]]
[[Category:Companies in the S&P Sri Lanka 20 Index]]
[[Category:Sri Lankan companies established in 2002]]
[[Category:Energy companies established in 2002]]




{{SriLanka-stub}}
{{SriLanka-company-stub}}

Latest revision as of 14:51, 28 January 2024

Lanka IOC PLC
Company typePublic
CSE: LIOC.N0000
ISINLK0345N00005
IndustryEnergy
Founded2002; 22 years ago (2002)
Headquarters
Colombo
,
Sri Lanka
Key people
  • Ranjan Kumar Mohapatra (Chairman)
  • Manoj Gupta (Managing Director)
Products
RevenueIncrease LKR281.49 billion (FY 2022-23) [1]
Increase LKR44.1 billion (FY 2022-23)
Increase LKR37.6 billion (FY 2022-23)
Total assetsIncrease LKR82.2 billion (FY 2022-23)
Total equityIncrease LKR61.2 billion (FY 2022-23)
Owner
  • Indian Oil Corporation Limited (75.12%)
  • J B Cocoshell (Pvt) Ltd (3.00%)
  • Ceybank Unit Trust (1.13%)
Number of employees
Steady 159 (FY 2022-23)
ParentIndian Oil Corporation Limited
Websitelankaioc.com
Footnotes / references
[2]

Lanka IOC PLC is a subsidiary of Indian Oil Corporation which operates retail petrol and diesel stations in Sri Lanka. LIOC is Sri Lanka's only private sector organisation retailing fuels with an island-wide distribution network of 213 retail outlasts. Its headquarters in the Colombo City, Colombo.[3]

History

[edit]

The company was incorporated in 2003 as LIOC. Indian parent company Indian Oil Company owned the majority of LIOC's stock, and N.K Nayyar served as its first chairman.[4] Before 2002, petroleum fuel retailing in the country was at the rudimentary level, limited to mere sales of auto fuel only. After the 2002 Sri Lankan Government's decision to liberalise the petroleum sector where the CPC will compete with the private sector. Indian Oil Corporation, will invest Rs. 10 billion (US$62 million for the first phase, US$38 million would be invested in the second phase) in Sri Lanka and will operate 100 fuel stations which it has purchased from the Ceylon Petroleum Corporation[5] In 2003, Sri Lankan Government give to 15 Trincomalee oil tanks, on a 35 years lease for an annual payment of US$100,000. In 2022 Sri Lankan cabinet approved to implementation of a development project by a company named Trinco Petroleum Terminal for the remaining 61 tanks, of which 51% will be owned by CEYPTCO and 49% by LIOC. Trincomalee oil tanks farm is estimated to be valued at US$500 million.[6] The event became known as the 2022 Sri Lankan economic crisis Sri Lanka has faced energy crisis. With no foreign exchange to pay for fuel, Sri Lanka Government was dependent on an Indian line of credit of US$700 million which expired in June. The LIOC to date was enjoying a 16% market share for petrol and diesel in the local market. For lubricants, bitumen and oil bunkering its market share is over 35%. The fuel shortfalls have also led to long lines at petrol and diesel stations over the past months. IOC supply is supported by an Indian Line of Credit of US$500 million.[7] In August 2022 Sri Lanka's Ministry of Power and Energy has authorised the establishment of 50 new fuel stations by Lanka IOC.[8]

Listing and shareholding

[edit]

Lanka IOC's equity shares are listed on the Colombo Stock Exchange.[9]

Finances

[edit]
Year Revenue

(mil. LKR)

Net income

(mil. LKR)

Total assets

(mil. LKR)

Employees
2003 1,306 78 202
2004 14,533 588 214
2005 27,586 2,331 201
2006 37,493 −1,18 202
2007 32,796 −636 170
2008[10] 44,173 2,516 23,959 170
2009 47,617 −1,104 20,453 171
2010[11] 50,214 −397 17,423 172
2011 51,743 893 18,988 173
2012 60,436 930 22,122 171
2013 75,111 2,909 24,700 175
2014 81,793 4,813 26,984 177
2015[12] 79,901 1,886 23,541 174
2016 71,307 2,239 25,068 172
2017 81,039 3,065 25,494 172
2018[13] 91,343 −744 32,959 172
2019 86,322 403 28,245 172
2020 81,947 422 39,760 164
2021 66,686 883 46,407 151
2022 89,951 4,818 65,070 153

References

[edit]
  1. ^ "Annual Report 2022-23" (PDF). www.lankaioc.com. 29 July 2023.
  2. ^ "Annual Report 2020/21" (PDF). cse.lk. Lanka IOC PLC. Retrieved 21 June 2022.
  3. ^ "LANKA IOC". Lmd.lk. Retrieved 1 December 2017.
  4. ^ "Lanka IOC PLC : IndianOil Overseas". iocl.com. Retrieved 28 September 2022.
  5. ^ TamilNet. "TamilNet". www.tamilnet.com. Retrieved 28 September 2022.
  6. ^ "Developing Trincomalee oil tank farm: What the deal means for India, Lanka". The Indian Express. 3 January 2022. Retrieved 28 September 2022.
  7. ^ "Sri Lanka Economic Crisis: IOC Provides Fuel As Government Pumps Go Dry". www.outlookindia.com/. 29 June 2022. Retrieved 28 September 2022.
  8. ^ "Lanka IOC to open 50 new filling stations". Sri Lanka News - Newsfirst. 8 August 2022. Retrieved 28 September 2022.
  9. ^ "Lanka IOC PLC, LIOC.N0000:CSE summary - FT.com". markets.ft.com. Retrieved 28 September 2022.
  10. ^ "LIOC 2009" (PDF).
  11. ^ "LIOC annual report 2011/10" (PDF). ww.lankaioc.com.
  12. ^ "LIOC 2015" (PDF).
  13. ^ "LIOC 2017" (PDF).
[edit]


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