Lanka IOC, under its CSR arm ‘WE CARE” recently donated an ambulance to the Lihiniyagama Hospital, in the Dehiathakandiya Division of the Ampara District.
It was formally handed over by President Maithripala Sirisena to the Regional Director of Health Services, Ampara, Dr. Senaka Talagala in the presence of the Prime Minister Hon. Ranil Wickremasinghe and the High Commissioner of India to Sri Lanka His Excellency Y. K. Sinha at the Presidential Secretariat in Colombo.
According to Dr. Talagala, the Dehiathakandiya area has been identified by the Ministry of Health as an area affected by Chronic Kidney Disease (CKD). At present, around 350 new patients have been registered in this area. The Base Hospital at Dehiathakandiya currently provides treatment to patients suffering from CKD. However, considering the large number of patients reported in the adjoining Lihiniyagama area, a Primary Medical Care Unit has been established at the Lihiniyagama Hospital to provide relief to these new patients.
President Maithripala Sirisena appreciated and welcomed the donation of this ambulance especially since a large number of CKD patients were reported from the Dehiathakandiya Division in recent times. Regional Director of Health Services, Ampara, Dr. Senaka Talagala together with Dr. Tilak Rajapakse received the ambulance on behalf of the hospital.
Speaking at the handing over ceremony Managing Director, Lanka IOC Subodh Dakwale said, “Our CSR initiatives stem from this simple yet strong belief and regular initiatives are being taken by the company in this direction”.
The High Commissioner of India to Sri Lanka His Excellency Y. K. Sinha said that the Government of India and many Indian companies in Sri Lanka have been providing many services to the community especially in the health sector. “The donation of this ambulance by Lanka IOC PLC is one such activity and I believe that this will be of immense help to the affected community in that area”, he said.

He added that with the donation of modern facilities to the Glencairn Hospital in Dickoya, the hospital would commence OPD functions in the near future. The High Commissioner affirmed that the Government of India had many more health projects lined up for the people of Sri Lanka. Also present at the handing over ceremony were Independent Directors and Senior Officials of Lanka IOC and Government officials.

A function organized by the Lanka IOC in Trincomalee to mark the International Women’s Day was held at the Chaya Blue Hotel in Trincomalee last Saturday. Apart from the employees of the company, a large number of women in the area also participated in the event.

Lanka Rating Agency (LRA) has assigned Lanka IOC’s (LIOC) a long- and short-term corporate credit ratings AAA and PP1 respectively. On a stand–alone credit profile, LIOC rated at AA+ and P1 and notched up on parent support. The long-term rating carries a stable outlook.

LIOC is mainly involved in distribution off auto-fuel and also has significant presence in lubricants, bitumen and oil bunkering markets.

The ratings were upheld by the company’s notable presence in auto-fuel distribution, bitumen and lubricants markets. Sri LLankan auto fuel distribution segment is a duopoly market and LIOC is the second auto fuel distributor in Sri Lanka with a market share of 18% after the state owned Ceylon Petroleum Corporation. LIOC has significant presennce in the bitumen segment.

However, the bitumen segment became highly competitive following the licenses granted to small and medium sized players. The company’s lubricant brand SERVO has a market presence of 15.8% in lube segment and is the second largest domestic player.

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Lanka IOC PLC commemorated the 12th anniversary of it’s operations in Sri Lanka with their annual blood donation camp in association with the National Blood Bank on 29th August 2014. As in the previous years, this year too, 267 donors consisting of Lanka IOC employees, business associates and well-wishers came together at the LIOC Head office at the World Trade Centre in Colombo and also at the Trincomalee oil terminal to donate blood . The annual blood donation camp is part of the various CSR initiatives undertaken by Lanka IOC under the theme ‘We Care’.

Lanka IOC PLC, as a responsible corporate citizen, believes that Corporate Responsibility is not merely about philanthropic activities, making generous contributions to various charitable causes but about being accountable for your actions, to all your stake holders and operating in a way that ensures long term sustainability, which in turn ensures sustainable development of the Nation. Towards this, LIOC has initiated several projects such as the English for young learners project in Colombo district under the patronage of his excellency the President of Sri Lanka Mahinda Rajapaksa, donation of libraries to two rural schools in Anuradhapura district by his excellency the President of Sri Lanka , a massive tree planting drive across the country under the ‘Go Green’ concept engaging the students, donation of wheel chairs to the elders home, donation of fully equipped ambulance to Provincial Director of Health Services , Trincomalee to name just a few.

Commenting on reaching yet another milestone, Subodh Dakwale, Managing Director of Lanka IOC PLC said “It is both with a sense of pride and satisfaction that we at Lanka IOC PLC look back at twelve successful years in Sri Lanka. During this period we have grown our operations exponentially and have made significant progress with the active co-operation of the Government and the people of Sri Lanka. It gives us a deep sense of humility and fulfillment to celebrate this important anniversary by giving back to society and thereby enriching the communities we work in.”

An exciting business opportunity to partner a progressive company.

LANKA IOC PLC invites applications to appoint Bitumen Credit Facilitator for Sales of Bitumen in Sri Lanka. Lanka IOC PLC is an overseas venture of Indian Oil Corporation Ltd which is a Fortune “Global 500” company. Currently operates 169 petrol sheds and markets Bitumen throughout the island in the road construction industry. It is one of the leading listed companies in Sri Lanka with a turnover USD 650 million during the year 2013-14.

LIOC is one of the largest Bitumen selling Companies in Sri Lanka. LIOC is looking for credit facilitator with sound financial background capable of investing 100-200 million and who can canvass for bitumen business. In this respect the selected party should be able to offer credit to customers identified by LIOC. Necessary credit facilitation fee will be paid by LIOC for this purpose.

A physical Application form can be collected from Lanka IOC Head Office at Colombo on all working days between 9:00 Hrs to 16:00 Hrs or downloaded from our company web site free of charge and completed application should be submitted on or before 15:00 hours 06.01.2015.

You may also download the Application online.
Bitumen Credit Facilitator – Application Form

For further information please contact:

SR.VICE PRESIDENT – LUBES (M & P)
LANKA IOC PLC
LEVEL 20, WEST TOWER
WORLD TRADE CENTRE
COLOMBO – 01

The Chairman of Lanka IOC Plc (LIOC), Makrand Nene says it is of great importance that the Sri Lanka Government evolves a transparent pricing system for fuels which would not only benefit the public but would also pave way for systematic infrastructure development in the energy sector. According to the LIOC management, there remains minimal correlation of local prices to International world market prices, which exposes the industry to an acute risk of incurring significant financial losses due to sudden price fluctuations. Hence, they say there is a need for greater transparency in the formulation of a method to correlate to global prices.

Addressing shareholders at the release of the company’s Annual Report for the year March 31, 2014, the LIOC Chairman Nene said that 2013/2014 had been the most successful financial year to date, as the firm continued to grow in its second decade of operations as the second and only other player in the Sri Lankan petroleum sector next to Ceylon Petroleum Corporation (CEYPETCO).

“With the Ceylon Petroleum Corporation having finally increased their diesel selling price in line with Lanka IOC in February 2013, our retail sales of diesel grew by 41% in quantity and 46% in value this financial year,” Nene announced adding that the company has achieved Rs.81.79 billion in sales, up 9% from Rs.75.11 billion recorded in the previous year.

Lanka IOC Plc has thus recorded a profit after tax of Rs.4.8 billion for the financial year, up from Rs.2.9 billion reported in the corresponding period of the previous year.
Domestic revenue for the year has increased by Rs.11.95 billion, which is a 20.9% growth from the previous year with the largest contribution from diesel sales which increased by 53%. Petrol revenue only grew by 8% but it contributed 40% of the total revenue, financials showed.

Meanwhile, Managing Director Subodh Dakwale said LIOC continued to expand its retail sector in 2013/14, opening ten new outlets in locations where fuel filling stations were most needed, increasing its number of filling stations to 147 and refurbishing a number of existing stations.
“In 2014/15, however we plan to kick start our expansion drive by opening over forty new outlets and refurbishing a further fifty. We plan to spread our footprint across the country in a major way, by increasing our presence in the unrepresented areas of the island nation,” he announced.

LIOC said in the financial year 2013/2014, fuel products had continued to be their highest profit center, garnering 75% of the total profit and accounting for 73% of the total turnover. Sales of petrol grew by 3% in 2013/14 to over 200,000 kiloliters while with price parity finally being reached, diesel sales grew by an incredible 41% to over 222,000 kiloliters.

On the corporate end, LIOC said acquisition of the business during the period under review to supply lubricant products to the Sri Lanka Transport Board can be counted upon as a major achievement.

In the year 2013, although value of total oil imported into Sri Lanka grew up to Rs.182 billion from Rs.157 billion in 2012, the value of refined products imported reduced to Rs.353 billion from Rs.467 billion. Nonetheless, the oil prices remained unchanged within the year and sales of petrol grew by 4% and diesel grew by 2%.

In view of the need to reduce the ever increasing gap between demand and supply of energy, Lanka IOC PLC as part of their CSR initiative conducted a Fuel Conservation Awareness Program amongst school students who are the future leaders of Sri Lanka. The objective of this initiative was to educate and create awareness among students of Grades 7 to 12 on the need for energy conservation by highlighting the importance of energy conservation and its use in our daily life, its scarcity and its impact on sustainability of global eco-system.

This initiative of Lanka IOC PLC provided students an opportunity to showcase their creative and critical thinking skills through an essay and arts competition amongst students from invited schools in Colombo. The art competition was open to students from Grades 7-9 and the essay competition was conducted amongst Grades 10-12at the Western Province Aesthetic Resort recently.

Commenting on this initiative Subodh Dakwale, Managing Director of Lanka IOC PLC said that corporate social responsibility (CSR) has been the cornerstone of success right from the inception of our company which is enshrined in the Mission Statement “to help enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment conscience” which succinctly portrays the commitment of LIOC.

Elaborating further Dakwale said ‘We at Lanka IOC have defined a set of core values for ourselves – Care, Innovation, Passion and Trust to guide us in all we do. We therefore, are aware of the need to work beyond financial considerations and put in that little extra to ensure that we are perceived not just as corporate behemoths that exist for profits, but as a wholesome entity created for the good of the society and for improving the quality of life of the communities we serve.’

The top three winners of the essay and art competition were awarded certificates and gift vouchers. A large number of students, parents, teachers and officials from Lanka IOC including Saurav Mitra, Senior Vice President (Finance), Rajanie Balakrishnan, Company Secretary were present at the awards ceremony. Speaking on the occasion Dhananjay Srivastava, Senior Vice President, Retail sales and HR stated that Lanka IOC was indeed delighted with the response and enthusiasm of both the students and teachers and thanked every one of them including the parents who sacrificed a weekend to make this event a great success.”

Article courtesy : Daily News

Through an ongoing initiative in teaching English to children from under-privileged communities, Lanka IOC, Faiszer Mustapha Foundation and Cosmopolitan Learning Academy launched ‘English for Young Learners’ six month programme for 1500 students from 15 chosen Dhamma or Sunday Schools from the Colombo District under the patronage of President Mahinda Rajapaksa.

Following the success of the programme last year at Trincomalee, Minister Faiszer Mustapha, who instigated the Foundation with the sole focus of alleviating the social setback that todays’ students tend to face when learning and conversing in English.

Lanka IOC had undertaken this project as their Corporate Social Responsibility (CSR) and have realized that projects of this caliber are focused towards providing education to a child from a poor background would help in the child’s upliftment for a better future.

“Lanka IOC and the Faiszer Mustapha Foundation had been working together on bringing about this concept for Dhamma Schools in the Colombo District.

Today, with the ongoing global changes and advancements, this strategy for companies to embrace CSR is meaningful and through this concept, we will work to provide youth with the chance to be able to learn English and benefit from it,” Chairman, Faiszer Mustapha Foundation, Minister Faiszer Mustapha said.

After the programme in Trincomalee, the Foundation noticed that this change should be brought upon to the Colombo District as well, especially after ruling out the plight of English language results from lesser known schools in the district.

To bridge this gap between learning the language as a subject at school, needed to be filled.

All four skills; reading, writing, speaking and listening would be taught during the six months. “This is not just an average English teaching programme. The focus would be laid out on English language to be taught as a language. This is an unconventional, well-programmed study scheme conducted by the Cosmopolitan Learning Centre.

“We had already been in Jaffna, in collaboration with Lanka IOC. This concept includes quite an interactive approach to teaching and we do not utilize the conservative way of school teaching. The concept is Cosmopolitans own developed, tried and tested teaching method. We engage in special training for our teachers I the right teaching technique to be used for this programme,” Thilak Silva of Cosmopolitan Learning Centre said.

35 teachers from the Colombo District have already been assigned for this programme. Whilst learning at Dhamma Schools, the programme had been set up to be followed as an additional class. “My aim is to diminish that gap seen between the English and the Non-English classes in schools around the country. English is a very much needed tool in todays’ growing world,” Minister Mustapha acknowledged.

Students will be allocated to segmented classes after undergoing a test that would mark them depending on their English knowledge and ability.

IOC sees this opportunity on a long term outlook and pledged their continuous support in bringing change to help in the education of children in the country.

President Mahinda Rajapaksa was the Chief Guest at the event.

COLOMBO, (Reuters) – Group results for Lanka IOC PLC, the Sri Lankan arm of Indian Oil Corp, for the three months ended Dec. 31, released recently. (in millions of rupees unless otherwise stated):

NOTE – Results are provisional and unaudited.

• Foreign investors and funds hold 77 percent of the tota issued shares in the company, which has a market cap of 20.24 billion Sri Lankan rupees ($154.80 million) and accounts for 0.79 percent of the total market capitalisation of the stock exchange, latest bourse data showed.
• The parent, Indian Oil Corp, holds 75.12 percent of the shares in its Sri Lankan arm.
• Shares in Lanka IOC have gained 35.1 percent in the December quarter and 19.3 percent so far this year.

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair for Reuters)

Complete results can be downloaded from our Investor Section.

A substantial decrease in finance costs enabled Lanka IOC PLC (LIOC) to post a net profit of Rs.805.9 million for the three months ended March 31, 2013 (4Q12) as against Rs.42.6 million during the corresponding period of the previous year, interim financials released to the Colombo Stock Exchange revealed.

Accordingly finance costs fell from Rs.870.8 million during the final quarter of 2012 to Rs.28 million during the quarter under review.

A further increase in finance income, which was Rs.106.4 million during the period in consideration in comparison to Rs.25.3 million during 4Q12, also contributed to the growth of the company’s bottom line.

Revenue for the quarter fell to Rs.19.2 billion from Rs.19.4 billion a year earlier and cost of sales fell to Rs.17.7 billion from Rs.17.8 billion and gross profits fell to Rs.1.44 billion from Rs.1.6 billion. Gross profits fell to Rs.790 million from Rs.895 million.

Also LIOC’s income tax expenses increased during the quarter under review to Rs.63.2 million as against Rs.7.8 million during the corresponding period of 2012.

Earnings per share (EPS) for the quarter ended March 31, 2013 stood at Rs.1.51 as opposed to 8 cents during the quarter ended March 31, 2012.

Meanwhile for the year ended March 31, 2013 the company recorded a net profit of Rs.2.9 billion as against Rs.905.9 million during the previous year.

During the year under review too finance costs fell from Rs.1.1 billion to Rs.138.8 million while finance income too increased from 78 million to Rs.267 million.

LIOC is a unit of India’s state controlled oil major, Indian oil Company