Gross refining margins of refineries now available in Industry Outlook

by Urmi Shah

Gross refining margins (GRMs) of refineries are now available on Industry Outlook. The refining margins are available for nine companies.

Following are the companies and their refineries for which gross refining margins have been made available on Industry Outlook.

  • Bharat Oman Refineries Ltd. - Bina Refinery
  • Bharat Petroleum Corpn. Ltd. - Mumbai Refinery, Cochin Refinery
  • Chennai Petroleum Corpn Ltd.
  • Essar Oil Ltd. - Vadinar Refinery
  • Hindustan Petroleum Corpn. Ltd. - Mumbai Refinery, Vishakhapatnam Refinery
  • Indian Oil Corpn. Ltd. - matrhura Refinery, Barauni Refinery, Haldia Refinery, Bongaigon refinery, Giwahati Refinery, Digboi Refinery, Koyali Refinery, Panipat Refinery, Panipat Refinery, Paradip Refinery
  • Mangalore Refinery & Petrochemicals Ltd. - Mangalore Refinery
  • Numaligarh Refinery Ltd. - Numaligarh Refinery
  • Reliance Industries Ltd. - Jamnagar Refinery

The gross refining margins have been sourced from the quarterly results as well as the ministry of petroleum and natural gas of the Government of India. The margins are available after the end of every quarter.

The GRM data in the tabulations represents year-to-date refining margins. For example, the GRM number available at the end of the June quarter represents the gross refining margin for the April-June period. The GRM number at the end of the September quarter represents the gross refining margin for the April-September period. Similarly, the GRM number available at the end of the December quarter represents the gross refining margin for the nine months period of April-December.

The tabulations with the gross refining margins data are made available under the ’Quarterly Financials’ section of the ’Refinery’ industry. To view this data, click on the following links: [GRM-Annual], [GRM-Cumulative]

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CMIE STATISTICS
Unemployment Rate
Per cent
5.5 -0.0
Consumer Sentiments Index
Base September-December 2015
94.7 0.0
Consumer Expectations Index
Base September-December 2015
96.5 0.0
Current Economic Conditions Index
Base September-December 2015
91.9 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Mar 16 Jun 16 Sep 16 Dec 16
New projects 3.31 1.54 2.34 1.42
Completed projects 2.26 0.90 2.15 0.76
Stalled projects 1.04 1.32 0.35 0.44
Revived projects 0.63 0.42 0.51 0.17
Implementation stalled projects 0.92 0.50 0.57 0.79
Updated on: 23 Feb 2017 9:20AM
Quarterly Financials of Listed Companies
(% change) Mar 16 Jun 16 Sep 16 Dec 16
All listed Companies
 Income -0.2 -0.9 2.1 6.4
 Expenses 0.9 -0.4 1.8 6.7
 Net profit -29.1 -3.5 15.3 36.9
 PAT margin (%) 4.9 6.9 7.0 6.0
 Count of Cos. 4,395 4,353 4,313 4,204
Non-financial Companies
 Income -2.1 -2.5 0.6 6.1
 Expenses -3.9 -2.9 -0.2 7.7
 Net profit 4.8 10.3 27.5 21.0
 PAT margin (%) 6.2 7.4 7.0 6.1
 Net fixed assets 3.8 -9.2
 Current assets 3.1 8.1
 Current liabilities 10.6 11.5
 Borrowings 6.7 3.1
 Reserves & surplus 7.9 8.6
 Count of Cos. 3,455 3,426 3,393 3,316
Numbers are net of P&E
Updated on: 23 Feb 2017 9:28AM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 11.9 9.3 4.3 0.2
 Expenses 12.1 9.2 4.3 0.3
 Net profit 1.0 -4.2 2.7 -12.1
 PAT margin (%) 3.6 3.2 3.3 3.4
 Assets 14.1 12.2 8.9 7.7
 Net worth 9.5 9.4 8.2 6.2
 RONW (%) 6.8 6.0 6.1 5.7
 Count of Cos. 23,087 20,259 18,916 14,317
Non-financial Companies
 Income 11.1 8.9 3.3 -1.1
 Expenses 11.4 8.6 3.4 -1.9
 Net profit -8.9 -5.6 -3.6 14.1
 PAT margin (%) 2.4 2.1 2.2 3.1
 Net fixed assets 12.9 11.3 12.3 10.8
 Net worth 7.7 8.3 6.6 5.0
 RONW (%) 5.4 4.8 4.8 6.1
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.0 1.9 1.9 2.1
 Net working capital cycle (days) 71 69 68 68
 Count of Cos. 17,721 15,860 14,813 11,415
Numbers are net of P&E
Updated on: 21 Feb 2017 3:48PM

Low government spending and low consumer expectations to keep growth subdued

Modest increase in capital expenditure; no incentive to private players

Rs.5.34 trillion or 3.2% of GDP