India's petrol pump network has achieved a significant milestone by crossing the 1,00,000-mark, reaching 1,00,266 outlets by the end of November 2024. This represents a remarkable doubling of infrastructure since 2015, when the country had 50,451 petrol pumps. The aggressive expansion by state-owned fuel retailers was driven by efforts to defend market share and extend fuel access deeper into rural and highway corridors amid sustained growth in vehicle ownership.

Global Ranking and Market Position

India now holds the position of world's third-largest petrol pump network, trailing only the United States and China despite their much larger geographical areas. According to data from the Petroleum Planning & Analysis Cell of the Oil Ministry, this achievement places India in an elite group of nations with extensive fuel retail infrastructure.

Market Dominance by State-Owned Companies

State-owned fuel retailers maintain overwhelming control of India's petrol pump landscape, owning over 90% of all outlets. Indian Oil Corporation leads the market with 41,664 outlets, significantly outpacing even China's largest retailer Sinopec, which operates more than 30,000 stations.

Private Sector Growth and Challenges

Private sector participation has shown steady growth, increasing from 5.9% market share in 2015 to 9.3% currently. Russia's Rosneft-backed Nayara Energy Ltd leads private fuel retail with 6,921 outlets, followed by the Reliance Industries-BP joint venture with 2,114 stations. Shell maintains a smaller presence with 346 outlets.

Private participation in fuel retailing began in FY2004 with just 27 pumps. However, growth has been constrained by government's indirect control over pricing through majority ownership in state-owned retailing companies. Despite petrol and diesel pricing being deregulated a decade ago, state-owned retailers stopped daily price revisions in November 2021, creating periods when pump rates fell below cost and making private sector operations economically challenging.

Rural Expansion and Infrastructure Evolution

The expansion strategy has particularly focused on rural penetration, with rural outlets now accounting for 29% of total pumps, up from 22% a decade ago. This shift reflects efforts to improve fuel accessibility in previously underserved areas and capitalize on growing vehicle ownership across India.

Modern petrol pumps have evolved beyond traditional fuel dispensing, now offering:

• Alternative fuels like CNG
• EV charging stations
• Traditional petrol and diesel dispensers
• Enhanced service facilities

The infrastructure expansion comes amid challenges including reduced per-pump throughput due to market saturation, which has pushed some outlets on less busy routes into losses. Despite these challenges, the doubling of India's petrol pump network represents a significant achievement in fuel retail infrastructure development.

Indian Oil Corporation has announced an interim dividend of ₹5.00 per share for the financial year 2025-26, with the Board of Directors fixing December 18, 2025 as the record date for determining eligible shareholders. The company has committed to distributing the dividend payment by January 11, 2026.

Dividend Declaration Details

The Board of Directors approved the interim dividend declaration at their meeting held on December 12, 2025. The dividend represents 50% of the face value of ₹10 per equity share. The following table outlines the key dividend parameters:

Tax Deduction at Source Guidelines

The company has issued comprehensive guidelines regarding Tax Deduction at Source (TDS) on the interim dividend payment. Under the Income Tax Act, 1961, as amended by the Finance Act, 2020, dividend payments are taxable in the hands of shareholders, requiring the company to deduct tax at source.

TDS Rates for Resident Shareholders

TDS Rates for Non-Resident Shareholders

Document Submission Requirements

Shareholders seeking TDS exemptions or reduced rates must submit required documents to KFin Technologies Limited by December 17, 2025. The company has specified that no communications regarding TDS will be accepted after this deadline.

Required Documents for Exemptions

Board Meeting and Regulatory Compliance

The Board meeting commenced at 11:00 AM and concluded at 02:10 PM on December 12, 2025. The dividend declaration was communicated to both National Stock Exchange of India Limited and BSE Limited in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements). The record date has been fixed pursuant to Regulation 42 of SEBI (LODR) regulations.

Shareholder Services and Contact Information

For dividend-related queries and document submissions, shareholders can contact KFin Technologies Limited at their Hyderabad office or through their toll-free number 1800-309-4001. The company has emphasized the importance of updating personal details including PAN, bank account information, email addresses, and mobile numbers for seamless dividend processing.

Shareholders holding equity shares of Indian Oil Corporation as of the record date of December 18, 2025 will be eligible to receive the interim dividend payment. This distribution demonstrates the company's commitment to returning value to shareholders through regular cash payments while maintaining comprehensive tax compliance procedures.