Essar Oil UK plans to add 400 more outlets in the country.
The company posted net profits of $244m in fiscal year 2015-2016, three times more than $70m posted a year ago.
Go deeper with GlobalData
A unit of Essar Energy, Essar Oil currently operates seven retail outlets in the UK.
The plan to open more retail outlets is part of its strategy to bolster margins.
Essar Oil UK executive chairman Naresh Nayyar was quoted by PTI as saying: "Retail sales can help us push our margins by $2-$3 a barrel of refined fuel, as we can gain on dealer commissions and other areas of downstream integration. "
Nayyar added that this expansion strategy is capex neutral as the firm will be only re-branding some already operating dealer-owned or dealer-operated outlets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIt plans gain a share of 10% in the fuel retail sector and intends to leverage on the ‘Made in UK’ campaign.
Essar plans to offer easy contracts and better supply and financial terms to fuel dealers.
