Event Details

The 73rd Annual General Meeting (AGM) of Bharat Petroleum Corporation Limited will be held on Thursday, August 27, 2026, at 10:30 AM IST through Video Conferencing (VC)/Other Audio Visual Means (OAVM).

Agenda Items

A. Ordinary Business

1. To receive, consider, and adopt:

  • The Audited Financial Statements of the Company for the year ended March 31, 2026.
  • The Audited Consolidated Financial Statements for the year ended March 31, 2026.
  • The Reports of the Board of Directors, the Statutory Auditors, and the Comments of the Comptroller & Auditor General of India thereon.

2. To confirm the payments of the First and Second Interim Dividend on Equity Shares for the Financial Year ended March 31, 2026.

3. To appoint a director in place of Shri Vetsa Ramakrishna Gupta (DIN: 08188547), Director (Finance), who retires by rotation and is eligible for reappointment.

4. To authorize the Board of Directors to fix the remuneration of the Joint Statutory Auditors for FY 2026-27.

B. Special Business

5. Ratification of Remuneration of Cost Auditors for FY 2026-27: An ordinary resolution to ratify the remuneration approved by the Board for two cost auditing firms:

  • M/s. Dhananjay V. Joshi & Associates (Lead Auditor): ₹4,00,000 plus applicable tax and out-of-pocket expenses for auditing cost records of refineries, product pipelines, biofuel plants (excluding lubricants).
  • M/s. Rohit & Associates: ₹1,50,000 plus applicable tax and out-of-pocket expenses for auditing Lubricants Oil Blending Plants.

The increase from the previous year (₹3,50,000 and ₹1,25,000 respectively) is attributed to an increased scope of work from new biofuel plants and the planned commissioning of the Rasayani LOBS plant.

6. Appointment of Shri Vedveer Arya as Director: An ordinary resolution to appoint Shri Vedveer Arya (DIN: 09311512) as a Director liable to retire by rotation. He was appointed as an Additional Director by the Board effective March 9, 2026, upon nomination by the Ministry of Petroleum & Natural Gas (MoP&NG). He is currently Additional Secretary & Financial Advisor in MoP&NG.

7. Appointment of Shri Pushp Kumar Nayar as Director (Human Resources): An ordinary resolution to appoint Shri Pushp Kumar Nayar (DIN: 10062914) as Director (Human Resources), liable to retire by rotation. He was appointed as an Additional Director and Director (HR) by the Board effective May 27, 2026, upon nomination by MoP&NG. His term is till his superannuation (August 31, 2030) or until further orders.

8. Amendment to Memorandum of Association (Special Resolution): To amend the object clause (Clause 3(a)) by inserting a new sub-clause (ix) to enable the company to enter the business of electronic and virtual payment systems. This includes UPI, QR codes, payment aggregation, e-wallets, payment gateways, and prepaid instruments. The stated rationale is to establish an integrated, self-owned payments ecosystem for end-to-end data ownership, cost optimization, new revenue streams, and enhanced customer experience.

Voting Information

  • Record Date: Thursday, August 20, 2026.
  • Remote e-Voting Period: Opens Saturday, August 22, 2026, at 9:00 AM and closes Wednesday, August 26, 2026, at 5:00 PM via NSDL (www.evoting.nsdl.com).
  • Scrutinizer: Shri Nrupang Dholakia of M/s. Dholakia & Associates LLP.
  • Results Declaration: The scrutinizer's report will be available on the company's website (www.bharatpetroleum.in) and NSDL's website within two working days of the meeting conclusion.

Shareholder Services & Compliance Notes

  • The notice and annual report have been sent electronically. Physical copies are available upon request.
  • Shareholders are urged to update their email IDs and PAN details with their Depository Participant (for demat holdings) or the RTA, KFin Technologies Limited (for physical holdings).
  • Securities can be transferred only in dematerialized form per SEBI regulations.
  • Unclaimed dividends for FY 2018-19 (final) are due for transfer to the Investor Education and Protection Fund (IEPF) on October 4, 2026. Underlying shares will also be transferred if no claim is received by then.
  • A special window for lodging old transfer requests (executed before April 1, 2019) is open until February 4, 2027.
  • Members can inspect relevant documents electronically by request to ssc@bharatpetroleum.in.

Director Profiles (Seeking Appointment/Reappointment)

  • Shri Vetsa Ramakrishna Gupta (Director - Finance): Chartered Accountant and Cost Accountant. Appointed Director (Finance) in September 2021 for a 5-year term. Holds 5,250 equity shares in BPCL. Attended 15 out of 15 board meetings in FY 2025-26.
  • Shri Vedveer Arya: 1997 batch IDAS officer. M.A. from Delhi University. Currently Additional Secretary & FA in MoP&NG. Appointed Additional Director on March 9, 2026. Holds no shares. Attended 2 board meetings since appointment.
  • Shri Pushp Kumar Nayar (Director - HR): MBA. Has over 35 years of experience at BPCL. Appointed Director (HR) on May 27, 2026, until superannuation on August 31, 2030. Holds 15,048 equity shares. Attended 3 board meetings since appointment.