Mr Manoj Gupta, Managing Director receiving the coveted Gold Award at the grand finale of the 56th Annual Report Awards by CA Sri Lanka

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) accorded the “Gold Award” to the Annual Report of Lanka IOC PLC under the Power and Energy Sector for the year 2020-21 during the Grand Finale of 56th Annual Report Awards ceremony.

Annual Report awards by CA Sri Lanka are the most prestigious awards and corporate event over half a century in the country which awards the selected Corporates for their resilience and perseverance in promoting transparency, accountability, good governance, and social responsibility helping investors and other stakeholders gain better insight into the organisation’s operations and achievements.

The award was received by Lanka IOC Managing Director Mr Manoj Gupta and his team at the award ceremony held recently at the BMICH. The ceremony was held under the patronage of Viraj Dayaratne, President’s Counsel, and Chairman of the Securities and Exchange Commission of Sri Lanka, Manil Jayesinghe, President of CA Sri Lanka, Dumith Fernando, Chairman of the Colombo Stock Exchange, Sanjaya Bandara, Vice President of CA Sri Lanka, Chaaminda Kumarasiri, Chairman of the Annual Report Awards Committee; Chamila Cooray, Alternate Chair of the Annual Report Awards Committee, Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange and Dulani Fernando, Chief Executive Officer of CA Sri Lanka.

Speaking at the acceptance of the award, Mr Manoj Gupta stated that “The Annual Report Award is affirming our continuous commitment towards transparent reporting and upholding the highest standards of corporate governance. The year 2020-21 was an extraordinarily turbulent phase in the backdrop of the pandemic. Our passionate and dedicated teams; within our organization and across our value chain network stepped forward to serve with unstinted passion and dedication. Our foremost priority was to serve with a’ Nation First’ mindset. Over our 19-year journey we at LIOC have always been committed to play a pivotal role in the economic development of the country, by powering the nation through vibrant channels of distribution and a diversified range of products.”

Over 70 companies, ranging from conglomerates, multinationals to non-profit organisations, and SMEs, were honoured at this year’s competition for their excellence in financial reporting.

The recognition of Annual Report represents company’s standards in financial reporting in line with global standards, performance and prospects that lead to the value creation over the short, medium and long term beyond the statutory compliance of reporting. The award ceremony was graced by many distinguished guests from Industry across all sectors in Sri Lanka.

Lanka IOC commences supplies of VLSFO 0.5% Sulfur IMO 2020 compliant Bunkers at Trincomalee. The very first VLSFO supply was given thru LIOC’s Time Chartered barge Ocean Trinco to the receiving vessel MV Mykonos Seas. Earlier, the very first import consignment of VLSFO was received at Trincomalee Terminal from the tanker MT Purity which was shipped from IndianOil Corporation ex Kandla Port, India.

In our tireless attempts to ensure customer and environment safety, Lanka IOC’s Trincomalee terminal has attained a benchmark standard, becoming the first such terminal in the country to be accorded with the ISO 14001: 2015 certification.

Contributing to 15 of the 17 Sustainable Development Goals, this certification emphasizes our team’s commitment to create only the best experiences for our customers while prioritizing environmental sustainability.

Lanka IOC PLC transformed the petroleum landscape in Sri Lanka by providing a new experience to customers through value added services at the LIOC retail outlets, and is committed for continuous improvement in petroleum retailing in the country & ensure regular up gradation in customer services to match best international standards. However branding is incomplete unless customer experience is same across the network. Realizing this Lanka IOC has been continuously working on standardization of customer service experience across its network. Thus apart from regularly improving look of the petrol pumps, Lanka IOC has been regularly working on the improvement in the soft skills of its manpower. Both dealers & staff at a Petrol Station are critical in providing good customer experience. Lanka IOC conducts regular training programs for dealers as well as for pump attendants with the help of the best universities in the country. Experts in the field of sales & marketing imparts trainings to dealers & their staff on regular basis. Considering the nature of business & flammable products being handled at the petrol stations, Safety is of paramount importance at a petrol station. Considering this dealers & pump attendants are also being trained for “Fire & Safety Precautions” through “Fire & Rescue Training Academy, Colombo”. We have identified ‘Pump Attendants’ working at our Petrol Stations as our most important link in our customer services as they being the first touch point for our customers. Focus is on bringing improvement in their life. To help them upgrade their education levels, Lanka IOC has registered select few with NAITA to help them acquire higher education. Slowly this benefit will extend to all pump attendants working with Lanka IOC petrol stations.

In line with our agenda of regular & continuous improvement towards further enhancing the customer service experience in the forecourt, Lanka IOC PLC organized a mega workshop on ”CUSTOMER SERVICE TRAINING” for Pump Attendants at BMICH.

Mr. Shyam Bohra, Managing Director of Lanka IOC PLC, commenting on this event stated ‘Recognizing the importance of our Customer Attendants to our business, we foresee a timely need for a clinical session to increase customer services, adopting best practices, improvements on service quality, Cleanliness, Safety and Health Precautions of both the Customer Attendant and the Retail Outlet, and to adequately empower them to handle difficult situations and strengthening team work.’ Further he stressed on the following core areas on which Lanka IOC will be focusing for the benefits of the Pump Attendants and for the customers; Mobile application for the Pump Attendants as a learning tool for the improvement of the customer service quality of pump attendants; Developing soft skills of the pump attendants to enhance customer service; regular training for improving the awareness of the fire and safety precautions at the ROs, etc.

Approximately 450 Pump Attendants attended the ‘Training Program’, representing the entire retail network of Lanka IOC across the island. Seeing a disciplined work force all well groomed & flashing dark blue Lanka IOC uniform was a visual delight. This initiative was to generate a positive impact and a close relationship with Pump Attendants motivating them to deliver a service par excellence.

Despite suffering huge losses in Auto Fuel sales due to absence of any Pricing Formula in the country, Lanka IOC is not stopping on its agenda of modernizing its retail network & enhancing customer experience. Once again, In a first of its kind of initiative in the petroleum industry in the country, Lanka IOC launched the scheme of Life Insurance Cover for the pump attendants working at LIOC retail outlets across island in association with Allianz Lanka, a global leader in insurance. LIOC offered a Life Insurance Cover of LKR. 500,000 which goes upto LKR One Million in case of Accidental Death Benefit Cover. It also includes Permanent Disability Cover and Partial Disability Cover. This will certainly create the peace of mind and improve the quality of life of the pump attendants.

Lanka IOC PLC, the overseas venture of Indian Oil Corporation is a Fortune 500 company, with the vision of becoming a transnational energy major, set foot into Sri Lanka in June 2002 revolutionizing the petroleum landscape in the island by providing Sri Lankan motorists a new refueling experience offering a range of world class lubricants and branded fuels that include Servo, Xtra Premium Petrol and Xtra Mile Diesel and providing high quality Marine Fuels catering to bunker fuel requirements in ports across Sri Lanka.

To mark this year’s World Environment Day, let’s make a pledge to use energy more efficiently and help preserve the integrity of our environment. We at Lanka IOC have been fueling this drive by producing energy efficient world class petroleum products that bring maximum efficiency out of your engine. Together, let’s make the environment and the planet, Great Again.

World Environment Day 5th June 2017.

Lanka IOC  Sri Lanka offers a variety of lubricants and engine oil Sri Lanka needs. From motorcycles to ships Lanka IOC has a huge variation of engine oil and lubricant products.

Lanka IOC Servo is a leader among the lube and engine oil market in Sri lanka, promising to offer the best high quality world class engine oil Sri Lanka deserves.  Servo lubricants is produced in Sri Lanka according to the globally renowned Servo specifications in Lanka IOC’s state of the art labs in Trincomalee.  

Find out more about the products by visiting their website and using the chooser application for Lanka IOC consumer lubricants and Industrial Lubricants for Engine oil Sri Lanka.