Bharat Petroleum Corporation Limited will hold its 73rd Annual General Meeting (AGM) on Thursday, August 27, 2026, via Video Conferencing to approve a strategic entry into the digital payments sector. The most material agenda item is a special resolution to amend the company’s object clause in the Memorandum of Association, enabling operations in electronic payment systems including Unified Payments Interface (UPI) and Bharat Quick Response (QR) codes. This move aims to establish an integrated, self-owned payments ecosystem to capture customer data, reduce dependency on third-party aggregators, and lower merchant discount rates.

The meeting will also transact ordinary business, including the adoption of audited financial statements for the financial year ended March 31, 2026, and confirmation of interim dividends. Shareholders will vote on the reappointment of Vetsa Ramakrishna Gupta as Director and the appointment of Vedveer Arya and Pushp Kumar Nayar as Directors. Additionally, the Board seeks ratification for the remuneration of cost auditors for FY 2026-27.

Strategic Expansion into Payments

The proposed amendment to Clause 3(a)(ix) of the Memorandum of Association permits the company to undertake business related to electronic and virtual payment systems. This includes payment aggregation, e-wallets, mobile wallets, cash cards, payment gateways, and Near Field Communication (NFC) payments. The resolution allows collaborations with banks, financial institutions, and Non-Banking Financial Companies (NBFCs) to implement this ecosystem. Management cites end-to-end data ownership, cost optimization, and enhanced customer experience as primary drivers for this expansion.

Director Appointments

The AGM will finalize the composition of the Board with three key resolutions:

• Vetsa Ramakrishna Gupta: Reappointment as Director by rotation. He serves as Director (Finance) and has been instrumental in Project Aspire and the merger of Bharat Oman Refineries Limited and Bharat Gas Resources Limited.
• Vedveer Arya: Appointment as Director. An Additional Secretary & Financial Advisor at the Ministry of Petroleum & Natural Gas, he was initially appointed as an Additional Director on March 09, 2026.
• Pushp Kumar Nayar: Appointment as Director (Human Resources). He brings over 35 years of experience in marketing and HR functions within BPCL and was appointed as an Additional Director on May 27, 2026.

Cost Auditor Remuneration

Shareholders are asked to ratify the remuneration of cost auditors for FY 2026-27 under Section 148 of the Companies Act, 2013. The fee increase is attributed to the expanded scope of work following the commissioning of biofuel plants for ethanol production and the planned commissioning of the Rasayani Lubricants Oil Blending Plant.

Voting and Logistics

The remote e-voting period runs from Saturday, August 22, 2026, at 9:00 A.M. to Wednesday, August 26, 2026, at 5:00 P.M. The record date for voting rights is Thursday, August 20, 2026. Members holding shares in physical form must register nominations via Form SH-13 with KFin Technologies Limited. Unclaimed dividends for FY 2018-19 become due for transfer to the Investor Education & Protection Fund on October 04, 2026, if not claimed.

Bharat Petroleum Corporation Limited has filed its Business Responsibility and Sustainability Report (BRSR) for FY26, revealing a 3.04% reduction in absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions to 10.47 million metric tonnes of CO₂ equivalent (MMTCO₂e). The report, submitted in compliance with Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, also highlights a milestone achievement in fuel blending: the company maintained a 20% ethanol blending rate in petrol for the first time in October 2025 and sustained it through March 2026. This progress supports India’s energy transition goals while reducing carbon intensity across BPCL’s operations.

The report covers the period from April 1, 2025 to March 31, 2026, on a standalone basis. Bureau Veritas (India) Private Limited provided reasonable assurance for the core BRSR indicators. Total turnover for the period stood at ₹5,22,668.25 crore, with net worth at ₹92,199.41 crore. Export sales contributed ₹7,256.79 crore, representing 1.39% of total turnover.

Decarbonisation and Renewable Energy

BPCL’s decarbonisation pathway targets Net-Zero Scope 1 and Scope 2 emissions by 2040. In FY26, emission intensity dropped by 8.75% based on sales throughput. The company expanded its renewable energy portfolio to 251.14 MW, comprising 239.34 MW of solar and 11.80 MW of wind capacity. Renewable electricity accounted for 5.29% of total consumption. Additionally, BPCL commissioned a 2.1 MTPD green hydrogen production plant at Bina Refinery and a green hydrogen refueling station at Kochi Refinery in collaboration with Cochin International Airport Limited.

Water Stewardship and Waste Management

Water withdrawal decreased to 50,909.25 thousand kilolitres (TKL) from 56,366.30 TKL in the previous year, while water consumption fell to 33,711.59 TKL, marking an 11% reduction in intensity. The Bina Refinery operates as a Zero Liquid Discharge facility, recycling 3,769.44 TKL of treated wastewater. All refineries and marketing locations achieved Zero Waste to Landfill certification. The company secured 2,655 MT of Plastic Extended Producer Responsibility (EPR) end-of-life credits and disposed of 19.38 MT of e-waste through authorised recyclers.

Governance and CSR Impact

ESG ratings improved across major platforms: S&P Corporate Sustainability Assessment score rose from 49 to 54, and Morningstar Sustainalytics ESG Risk Rating improved from 39.9 to 35. CDP Climate Disclosure moved from ‘C’ to ‘B’. Corporate Social Responsibility spending reached ₹267.17 crore, benefiting over 25 lakh people across healthcare, education, and environmental conservation. Procurement from Micro and Small Enterprises (MSEs) hit ₹3,821.96 crore (32.19%), exceeding the mandated 25% target.