IOCL plans to automate 7,500 retail outlets in 2014-15

Written By Unknown on Jumat, 12 September 2014 | 21.03

Stating that the concept of 100 percent City Retail Outlet Automation is a key initiative launched by Indian Oil, the company said that in the current financial year, it plans to automate more than 20 cities.

State-run Indian Oil Corporation  plans to automate 7,500 outlets by 2014-15, its chairman B Ashok said today.

Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan today inaugurated the automation facility simultaneously at all Indian Oil retail outlets here by remote control.

"Indian Oil, which has automated more than 6,200 retail outlets till August, 2014, also plans to automate 7,500 outlets by 2014-15 fiscal and more than 10,000 retail outlets by 2015-16," the IOC chairman said.

In Odisha, Indian Oil has automated 192 retail outlets and has planned to increase it to a total of 230 outlets in the financial year 2014-15, he said.

Stating that the concept of 100 percent City Retail Outlet Automation is a key initiative launched by Indian Oil, Ashok said in the current financial year, the company plans to automate more than 20 cities in the country.

Today's automation has made the Odisha's state capital first fully automated retail outlet city in Eastern India. "The automation will dispel the doubts in the minds of the petroleum consumer and bring benefit to all. The best practices of customer care and services would be implemented in Odisha," Pradhan said.

Stating that profit is not the prime motive, but customer satisfaction is the need of the hour, Pradhan said automated system would help quick and effective customer grievance redressal due to availability of record for each transaction.

IOC stock price

On September 12, 2014, Indian Oil Corporation closed at Rs 400.30, up Rs 3.15, or 0.79 percent. The 52-week high of the share was Rs 410.90 and the 52-week low was Rs 194.50.


The company's trailing 12-month (TTM) EPS was at Rs 52.04 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 7.69. The latest book value of the company is Rs 271.80 per share. At current value, the price-to-book value of the company is 1.47.


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