Meeting Details

The 74th Annual General Meeting (AGM) of Hindustan Petroleum Corporation Limited was held on Wednesday, August 26, 2026 at 11:00 A.M. (IST) through Video Conferencing (VC) in compliance with Ministry of Corporate Affairs circulars allowing virtual meetings for the 7th consecutive year.

Attendance

The meeting was chaired by Shri Vikas Kaushal, Chairman and Managing Director of the Company. Other Board members, including the chairs of Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, attended through VC. Representatives of Statutory Auditors, Secretarial Auditor, and Scrutinizer were also present. The requisite quorum was present.

Proceedings Summary

The Chairman welcomed members and explained the VC process. The Notice of AGM and Reports of Directors and Auditors were taken as read. The Company Secretary read out relevant portions of the Comptroller and Auditor General of India's report and the Secretarial Audit Report for FY 2025-26.

Chairman's Speech Coverage

The Chairman's speech covered: overview of economy and oil sector; HPCL performance (financial & physical); overseas operations; projects completed during the year; major projects in progress; research & development; HSE and sustainability; corporate social responsibility; internal control and risk management; corporate governance; people; awards and recognitions; current situation and path ahead.

Business Transacted

The following resolutions were put to vote through remote e-voting prior to and during the AGM:

Ordinary Business:

1. Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Auditors (Ordinary Resolution)

2. Confirmation of payment of Interim Dividend and declaration of Final Dividend of ₹19.25 per equity share for FY 2025-26 (Ordinary Resolution)

3. Reappointment of Shri KS Shetty (DIN: 09760899) who retires by rotation (Ordinary Resolution)

Special Business:

4. Appointment of Shri Vikram Saxena (DIN: 10892368) as Director (Ordinary Resolution)

5. Appointment of Shri Alok Tripathi (DIN: 06668832) as Director (Ordinary Resolution)

6. Appointment of Smt. Srividya Venkataraman (DIN: 09548415) as Director - Finance (Ordinary Resolution)

7. Payment of remuneration to Cost Auditors for FY ending March 31, 2027 (Ordinary Resolution)

8. Approval of Material Related Party Transactions with HPCL-Mittal Energy Limited (Ordinary Resolution)

Member Interaction

Total 24 registered speakers posed queries on the business items, which were answered by the Chairman.

Voting Process

E-voting facility remained open for 15 minutes after the AGM conclusion for members who had not cast votes earlier. The combined final voting results (remote e-voting and e-voting at AGM) were to be received from the Scrutinizer and communicated to BSE Limited and National Stock Exchange of India Limited within prescribed timelines. Results and Scrutinizer's report were to be placed on the company website (www.hindustanpetroleum.com) and NSDL's website.

Meeting Conclusion

The AGM concluded at 1:40 P.M. (IST) after a vote of thanks was proposed by the Director - Refineries.