Indian Oil Corporation Ltd Q2 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Amit Rustagi - UBS Investment Bank, Research Division - Analyst : Sir, now we have seen that a lot of PSUs are rewarding their shareholders in the form of buyback. So if there is a way of thinking at our level also to change the way we were rewarding shareholders in the past and try to help boost the market capitalization?

Question: Amit Rustagi - UBS Investment Bank, Research Division - Analyst : Okay. And sir, we have around INR 91,000 crore of debt at our company on -- as on 30th September. So could you explain that what are the components of this debt long-term, short-term lease liability? And till what extent we can go in raising the debt given we are already now stretching on the net debt-to-equity ratios given -- versus the past ratios?

Question: Amit Rustagi - UBS Investment Bank, Research Division - Analyst : Okay. And sir, how much -- what is our CapEx plan for this year and next year, remaining year and the next year? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 02, 2020 / 9:30AM, IOC.NS - Q2 2021 Indian Oil Corporation Ltd Earnings Call

Question: Rohit Ahuja - BOB Capital Markets Limited, Research Division - Analyst : Sir, I just wanted a view on the petroleum product consumption growth. Now that we've seen a decline in the first half of the year, do you see a need to expand your refining capacity over the next 3 to 5 years, considering that we are unlikely to grow our consumption beyond 3% to 5% at the industry level?

Question: Rohit Ahuja - BOB Capital Markets Limited, Research Division - Analyst : Do you see a risk there because we are net exporters of refining products. We have excess refining capacity than what we consume. And if the export markets shrink, which is expected over the next 5 years or after 2025, do you still see a reason for domestic capacity to expand?

Question: Rohit Ahuja - BOB Capital Markets Limited, Research Division - Analyst : And do you see still a reason for the JV refinery that was planned, the mega refinery along Saudi Aramco being an investor in that in Maharashtra. Do you still see the case for that to come up?

Question: Rohit Ahuja - BOB Capital Markets Limited, Research Division - Analyst : So lastly, we had seen a lot of queries on the buyback and concerns on the share price underperformance. Also 1 reasons being quoted is how -- what is probably your cash utilization? Are you looking at any inorganic move towards any other PSUs within this sector or in ancillary sectors that -- or you'll be asked to acquire any of them? Can you give any light on that?