Indian Oil 67th AGM on 31 Aug 2026; Final Dividend Declared & All Resolutions Passed

New Delhi: Indian Oil Corporation Limited (IOC) successfully held its 67th Annual General Meeting on 31 August 2026 through Video Conferencing. The meeting commenced at 10:30 a.m. and concluded at 1:50 p.m.

All nine resolutions proposed at the AGM were approved by shareholders with the requisite majority.

Key Outcomes

Dividend

• Final Dividend of ₹1.25 per equity share for the financial year 2025-26 was declared.

Board Appointments

• Ms. Rashmi Govil and Shri Arvind Kumar, who retired by rotation, were re-appointed as Directors.

• Shri Saumitra P. Srivastava was appointed as Whole-Time Director and designated as Director (Marketing).

• Shri A. Amarnath was appointed as Government Nominee Director.

Other Approvals

• Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31 March 2026.

• Approval of material Related Party Transactions with Petronet LNG Ltd. (Promoters did not vote as they were interested parties).

• Ratification of remuneration of Cost Auditors for FY 2026-27.

• Amendment of the Memorandum of Association (MoA) and adoption of a new set of Articles of Association (AoA) by Special Resolution.

MoA Amendment Highlights

Shareholders approved the bifurcation of the Object Clause into Main Objects and Ancillary Objects in line with the Companies Act, 2013. New business areas added include:

• Bio-refinery

• Hydrogen & Ammonia

• Specialty Chemicals

• Critical Minerals

• Trading of Energy Commodities and derivatives

• Carbon Market, Carbon Credit and Green Certificates

• Data Centers & Digital/Software Services

• Yarns, Fertilizers, and Project Management & Engineering Services

A completely new set of Articles of Association has also been adopted to align with the current statutory framework.

The detailed voting results and Scrutinizer’s Report (CS Umesh S. Pawaskar of Umesh Pawaskar & Co.) have been submitted to the stock exchanges and hosted on the company’s website.

Source: Official disclosure by Indian Oil Corporation Limited on the proceedings of the 67th Annual General Meeting held on 31 August 2026.