For over two decades, we have demonstrated fortitude and resilience in the midst of challenges. The financial year 2021-22 was no exception as we recorded phenomenal financial performance despite an extraordinarily tumultuous environment. As we embraced opportunities and challenges we were able to create transformative progress across our business. As we stepped forward we proved our credibility and unstinted support to the nation, our business partners and every stakeholder who has placed unyielding trust in us. This report sets out our journey of holistic value creation harnessing the potential of our strengths and the contribution of our people. With a strong foundation of financial success underpinned by our zeal and devotion, we are committed and optimistic of our journey onwards to create and build a bright future
CONTENTS
CHAIRMAN'S 14MESSAGE
"Supported by the Line of Credit from the Government of India, CPC has been receiving regular shipments of Gasoil/Gasoline/ATF from Indian Oil Corporation Limited, the parent company of LIOC, which has ensured consistent availability of fuel for meeting the energy requirements of the country."
MANAGING
DIRECTOR'S 18REVIEW
"With our strong commitment to stand together with the nation as a reliable energy partner, over the last few months, LIOC has stepped up its activities towards attending to emergent needs of the nation."
OUR INTEGRATED ANNUAL REPORT
4
ABOUT US
VISION & MISSION
6
ABOUT LIOC PLC
7
KEY BUSINESS VERTICALS
8
MAJOR ACHIEVEMENTS AND HIGHLIGHTS 2021-22
9
FINANCIAL HIGHLIGHTS
10
PERFORMANCE HIGHLIGHTS
12
OUR LEADERSHIP
CHAIRMAN'S MESSAGE
14
MANAGING DIRECTOR'S REVIEW
18
BOARD OF DIRECTORS
22
SENIOR MANAGEMENT
26
OPERATING LANDSCAPE
AND STRATEGY
OPERATING ENVIRONMENT
28
OUR STRATEGY
30
SUSTAINABILITY AT LIOC
33
ENGAGEMENT WITH STAKEHOLDERS
34
MATERIAL MATTERS
38
MANAGEMENT DISCUSSION AND
ANALYSIS
OUR VALUE CREATION MODEL
42
SEGMENT PERFORMANCE OVERVIEW
AUTOMOTIVE FUELS
44
BUNKERING AND OPERATIONS
45
LUBRICANTS
46
BITUMEN AND PETROCHEMICALS
47
FINANCIAL CAPITAL
48
MANUFACTURED CAPITAL
52
INTELLECTUAL CAPITAL
55
HUMAN CAPITAL
58
SOCIAL AND RELATIONSHIP CAPITAL
63
NATURAL CAPITAL
68
CORPORATE GOVERNANCE AND
RISK MANAGEMENT
CORPORATE GOVERNANCE
72
REPORT OF THE BOARD AUDIT COMMITTEE
85
REPORT OF THE REMUNERATION COMMITTEE
87
REPORT OF THE RELATED PARTY TRANSACTIONS
88
REVIEW COMMITTEE
REPORT OF THE BOARD RISK MANAGEMENT
89
COMMITTEE
RISK MANAGEMENT
91
INDEPENDENT PRACTITIONER'S LIMITED
97
ASSURANCE REPORT
ANNUAL REPORT OF THE BOARD OF DIRECTORS ON
99
THE AFFAIRS OF THE COMPANY
FINANCIAL STATEMENTS
STATEMENT OF DIRECTORS' RESPONSIBILITY
104
CHIEF EXECUTIVE OFFICER'S & CHIEF FINANCIAL
105
OFFICER'S RESPONSIBILITY STATEMENT
INDEPENDENT AUDITOR'S REPORT
106
STATEMENT OF COMPREHENSIVE INCOME
108
STATEMENT OF FINANCIAL POSITION
109
STATEMENT OF CHANGES IN EQUITY
110
STATEMENT OF CASH FLOWS
111
NOTES TO THE FINANCIAL STATEMENTS
112
EXTENTS, LOCATIONS & THE NO. OF BUILDINGS OF
149
LANKA IOC'S LANDHOLDINGS
SHAREHOLDER'S INFORMATION
151
GRI CONTEXT INDEX
154
CORPORATE INFORMATION
IBC
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Lanka IOC plc published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 04:13:05 UTC.
Lanka IOC PLC is a Sri Lanka-based energy company, which is engaged in importing, selling and distribution of petroleum products. Its products range include fuel, lubricants, bunkering, bitumen, and petrochemicals. It fuels products include auto fuel, including diesel and petrol, and industrial fuel, including light diesel oil. It offers three types of lubricant products, automotive, which include passenger car motor oils, automatic transmission fluids and diesel engine oils; industrial, which include transformer oils, rubber process oil, rust preventive oil, heat transfer fluid, sugar mill lubricant, open gear lubricant, spindle oil, turbine oils, refrigeration compressor oils and other; and marine lubricants, which include Servo Marine T series, Servo Marine Gear EP series, Servo Marine HYD Series and other. It Bunkering product includes Marine Fuel, which include MARINE FUEL OIL (0.5% S), Marine Gas Oil and IFO 380 cst. Its Bitumen includes Bitumen 60/70 and Bitumen 80/100.
LANKA IOC PLC 
