Indian Oil unveils SPRINT project for ambitious growth

Indian Oil Corporation (IOC) has launched "SPRINT," a transformational project designed to strengthen core businesses, optimize costs, reinforce customer centricity, integrate technology, nurture talent, and prepare for energy transition. The project, which commenced on April 1, 2025, aims to achieve significant growth across its operations, targeting FY25 revenue of ~₹8.5 Tr and maintaining its position as India's largest PSU and a Maharatna Company.

Key SPRINT goals include sustaining leadership in refining with India's #1 ranking, boosting fuel retail market share, and scaling petrochemical capacity to 4.3 MMT, a 3483% increase from FY05. Operational efficiency improvements are already showing "Green Shoots," with ~5% overall energy efficiency improvement in refineries and an ~8% year-on-year growth in auto lubes, driving a ~5% market share gain.

The initiative also focuses on expanding into new business areas and alternative energies, including a "Terra Clean" IPO for green energy. A multi-tiered governance mechanism has been established to ensure successful implementation, supported by dedicated high-potential teams across divisions.