Meeting Details
- Meeting Date & Time: Monday, August 31, 2026, at 10:30 a.m. (IST)
- Conclusion Time: 1:50 p.m. (IST)
- Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
- Chairman: Shri A. S. Sahney
Proceedings Overview
The meeting commenced at 10:30 a.m. with the required quorum present. The Chairman welcomed members and confirmed the meeting was held in compliance with MCA and SEBI circulars.
Voting Information
Remote e-voting was conducted via the NSDL portal from 09:00 a.m. on Thursday, August 27, 2026, until 5:00 p.m. on Sunday, August 30, 2026. E-voting was also available during the AGM for members who had not voted remotely. Scrutinizer for the voting process was CS Umesh S. Pawaskar of Umesh Pawaskar & Co., Practicing Company Secretary.
Reports and Appointments
The Company Secretary informed members of the unmodified report of the Auditors, nil comments from the CAG, and observations of the Secretarial Auditor with management's response.
Chairman's Address
The Chairman provided an overview of:
- Company performance for the financial year 2025-26
- Q1 performance for 2026-27
- Future scenario of the industry and the Company
Member Interaction
Registered members were invited to share views and ask questions. The Chairman responded to queries on:
- Financial and operational performance
- Expansion plans and capex
- Dividend and issue of bonus shares
- Market capitalization
- Future business plans
- Research & development initiatives
- Crude oil and product prices
- Alternate energy and hydrogen as fuel
- SPRINT initiative
- Petrochemical business
- Women empowerment
- GRM forecast
- Other major company initiatives
Agenda Items
The following 9 business items were proposed for member approval:
1. Ordinary Business: To receive, consider, and adopt the Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026, together with Reports of the Directors and Auditors.
2. Ordinary Business: To declare a Final Dividend of ₹1.25 per equity share for the year 2025-26.
3. Ordinary Business: To appoint a director in place of Ms. Rashmi Govil (DIN: 10531397), who retires by rotation and is eligible for reappointment.
4. Ordinary Business: To appoint a director in place of Shri Arvind Kumar (DIN: 09224177), who retires by rotation and is eligible for reappointment.
5. Ordinary Business: To appoint Shri Saumitra P. Srivastava (DIN: 10236956) as Whole-time Director and designate him as Director (Marketing).
6. Ordinary Business: To appoint Shri A. Amarnath (DIN: 11690405) as Government Nominee Director.
7. Ordinary Business: Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil.
8. Ordinary Business: To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2027.
9. Special Business: Amendment in the Memorandum of Association (MoA) and Articles of Association (AoA) of the Company.
Voting and Results
The facility for e-voting remained open for 15 minutes during the meeting. The results of the remote e-voting and voting at the meeting were to be informed to the Stock Exchanges and hosted on the company's website and the e-voting agency's website within the prescribed time period.
Conclusion
The meeting concluded at 1:50 p.m., with the Chairman thanking members for their participation.