Delivering Top Performance: Shrikant M. Vaidya, Chairman, Indian Oil Corporation
IOC Chairman Shrikant Madhav Vaidya describes himself as a "refiner at heart, living by the motto of "Pehle Indian, Phir Oil -- Nation Before Business". He wishes to make the world a little better than before; follows the mantra of “Aim, Act & Accomplish”, in tandem with the team. He is also a staunch believer in the power of innovation. In his profile on a business networking website, Vaidya also describes himself as a ‘could have been cricketer’. He is a fitness enthusiast who loves to unwind with a book or a movie. He draws inspiration from transformational leaders like Mahatma Gandhi, Martin Luther King Jr. and Nelson Mandela.
Under Vaidya's able leadership IOC has continued to hold the largest market share of India’s petroleum product consumption. As a ‘Maharatna’ company, it addresses the multiple energy needs of the nation with its integrated business model, leading from the front as a responsible energy major.
Record Numbers
The year 2020-21 witnessed Indian Oil registering record profits. “During 2021-22 we once again surpassed our best, by notching up the highest-ever revenue and record net profit,” said Vaidya emphatically.
During 2021-22, Indian Oil’s revenue from operations grew more than 41 per cent compared to the previous year, and net profit rose nearly 11 per cent. “This growth is remarkable, and to put it in context, we must remember that even the year before, we notched up record numbers. This is an extraordinary feat that will surely inspire Team Indian Oil to aim for new benchmarks of operational excellence in the coming years,” Vaidya added.
In number terms, IOC reported its highest ever revenue of Rs 7,28,460 crore, up from Rs 5,14,890 crore in the previous financial year, while its net profit stood at Rs 24,184 crore, up from Rs 21,836 crore in the previous year. Its consolidated revenue, after including earnings of subsidiaries like Chennai Petroleum Corporation (CPCL), came in at Rs 7.36 lakh crore.
