Indian Oil Corp Ltd: Recent Developments
Change in Senior Management
On September 1, 2025, Indian Oil Corporation Limited (IOCL) announced a change in its senior management. This disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company, headquartered at IndianOil Bhavan, G-9, Ali Yavar Jung Marg, Bandra (East), Mumbai, communicated this change to the National Stock Exchange of India Limited and BSE Limited. The announcement was part of the company’s commitment to transparency and adherence to regulatory requirements.
66th Annual General Meeting Summary
The 66th Annual General Meeting (AGM) of Indian Oil Corporation Limited was held on August 30, 2025. The summary of the proceedings was disclosed in accordance with Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The AGM, conducted at the company’s registered office, covered various aspects of the company’s performance and strategic direction. The summary was shared with the National Stock Exchange of India Limited and BSE Limited, ensuring stakeholders were informed of the key decisions and discussions.
Company Overview
Indian Oil Corporation Limited is a leading oil company based in India, operating in the Energy sector, specifically within the Oil, Gas & Consumable Fuels industry. The company is listed on the National Stock Exchange of India and trades in INR. As of August 28, 2025, the close price of IOCL’s stock was 136.62 INR, with a 52-week high of 184 INR on September 4, 2024, and a 52-week low of 110.72 INR on March 2, 2025. The company boasts a market capitalization of 1,962,290,000,000 INR and a price-to-earnings ratio of 11.35.
IOCL’s business spans the entire hydrocarbon value chain, including refining, pipeline transportation, marketing, exploration, and production of crude oil and gas, petrochemicals, gas marketing, and alternative energy sources. The company operates approximately nine refineries across India and has a network of oil depots, terminals, aviation fueling stations, LPG bottling plants, and lube blending plants. Its subsidiaries include Chennai Petroleum Corporation Limited, IndianOil (Mauritius) Limited, Lanka IOC PLC, IOC Middle East FZE, IOC Sweden AB, and IndOil Global B.V.
Related News
In related news, ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corporation (ONGC), is optimistic about recovering $350 million in dividend income stuck in Russian banks. This optimism stems from the potential opening of banking channels with Russia and a sanctions waiver on Venezuelan oil. ONGC Videsh also has $600 million stuck in Venezuela due to sanctions. The company’s managing director, Rajarshi Gupta, expressed confidence that the resolution would occur soon, allowing the firm to repatriate the funds.
This article provides a concise overview of the recent developments concerning Indian Oil Corporation Limited, focusing on the change in senior management, the summary of the 66th AGM, and a brief company overview. Additionally, it includes related news about ONGC Videsh’s efforts to recover stuck funds.