IBP, India''s oldest petroleum company, is aiming at
an annual turnover of Rs 10,000 crore during the current
fiscal compared with Rs 8,753.09 crore in 2002-03.
part of the Fortune 500 Indian Oil, is expecting the rapid
growth through marked rise in retail petroleum business.
IBP will significantly expand the chain of retail outlets
by opening another 600 retail outlets this year. The company
has created 55 new retail outlets by July 2003.
has drawn up extensive plans for growth by laying emphasis
on consumer petroleum business and higher sales of lubricants
and other products. The company has started actively participating
in tenders floated by the state transport departments,
defense, railways and armed forces for promoting the products
and to achieve high volume sales. Also IBP is actively
soliciting business from registered cooperatives for promoting
consumer business of MS and HSD.
company is exploring the scope for exports of IBP Red
brand of lubricants to the neighboring countries like
Nepal, Bangladesh and Myanmar. Also to create a demand-pull
in the domestic market, the brand will be promoted in
an aggressive manner. For this the consignment agent chain
for lubricants is being developed all over the country
including the unrepresented areas. Also the IBP Red lubricants
have in recent past obtained 16 OEM approvals to promote
the business. The industrial grade is also being developed
to meet demands from leading industry houses.
LPG, the thrust area would be to enroll maximum customers
from the existing chain of LPG distributors and also to
reach out to the rural market through aggressive marketing.
The company will add more than 75 distributors in the
current year. The current subscriber base of IBP LPG is
is looking after the customers in a very exclusive manner
and has already forged alliances with leading industry
names such as CASL, HLL, Volvoline, Iftex, Amul, State
Bank of India etc. The SBI Card, which IBP launched last
year at 118 retail outlets in 19 cities, will soon be
available in 41 cities.
company is very actively pursuing the possibilities of
having a tie-up or a joint venture for promotion of the
explosives business at an optimum cost. The partner will
help the company to increase its market share. The business
group Cryogenics will use its experience and technology
in promoting storage, distribution and marketing of gases
is in dialogue with an internationally renowned party
who are the only experts in this area and have pioneered
new initiatives in other countries, including the US.
these areas IBP is working very closely with the holding
company, IndianOil Corporation and the internationally
acclaimed party and very soon a positive break-through
is expected which will add to both the companies'' image
and business substantially not only for now but on a sustained
basis for a long term.