GP Petroleums' JV Amron Oil Resources Wins ₹74.04 Cr Bitumen Supply Contract from IOCL
GP Petroleums Limited disclosed that its joint venture, Amron Oil Resources Private Limited, has received a Letter of Acceptance from Indian Oil Corporation Limited for supplying 9000 MT of VG-30 and 6000 MT of VG-40 bulk bitumen at Pipavav. The contract is valued at ₹74,03,91,000 including 18% GST, executable within twelve months with an optional 12-month extension on mutual consent.
*this image is generated using AI for illustrative purposes only.
GP Petroleums Limited has disclosed, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that its joint venture company, Amron Oil Resources Private Limited, has been awarded a Letter of Acceptance (LOA) by Indian Oil Corporation Limited. The disclosure was made on May 05, 2026, by Company Secretary and Compliance Officer Kanika Sehgal Sadana.
Contract Overview
The contract pertains to the supply of bulk bitumen in two grades — VG-30 and VG-40 — at Pipavav, awarded by Indian Oil Corporation Limited. The order is a domestic contract and does not constitute a related party transaction. Additionally, neither the promoter nor the promoter group companies hold any interest in the awarding entity.
The key details of the contract, as disclosed in Annexure-I pursuant to SEBI Master Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are summarised below:
| Parameter: | Details |
|---|---|
| Awarding Entity: | Indian Oil Corporation Limited |
| Contract Nature: | Supply of Bulk Bitumen (Grades VG-30 & VG-40) at Pipavav |
| Supply Quantities: | 9000 MT of VG-30 and 6000 MT of VG-40 |
| Contract Value: | ₹74,03,91,000 (including 18% GST) |
| Domestic/International: | Domestic |
| Execution Period: | Twelve months from date of placement of contracts |
| Extension Clause: | Extendable for a further 12 months on mutual consent |
| Related Party Transaction: | No |
| Promoter Interest in Awarding Entity: | No |
Contract Terms and Execution
The total consideration for the contract stands at ₹74,03,91,000 (Rupees Seventy-Four Crore Three Lakhs Ninety-One Thousand Only), inclusive of 18% GST. The contract is to be executed within twelve months from the date of placement. As per the terms, the validity period may be extended for a further period of 12 months on mutual consent between the parties.
Amron Oil Resources Private Limited, the joint venture company of GP Petroleums Limited, is responsible for fulfilling the supply obligations under this contract. The supply covers two standard bitumen grades — VG-30 and VG-40 — which are widely used in road construction and infrastructure projects across India.
Regulatory Disclosure
The intimation was made in compliance with Regulation 30 read with Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular No. SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023. The disclosure was submitted to both BSE Limited and the National Stock Exchange of India Ltd. on May 05, 2026.
Historical Stock Returns for GP Petroleums
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.22% | +5.62% | +23.18% | -11.34% | -7.68% | -21.03% |
How might this IOC contract influence Amron Oil Resources' capacity to bid for additional bulk bitumen supply tenders from other public sector oil companies in the near term?
Given the 12-month extension clause, what factors — such as infrastructure spending cycles or bitumen price volatility — could determine whether IOC exercises the renewal option?
Could this contract signal a broader strategic push by GP Petroleums to expand its joint venture operations in the bitumen supply chain, potentially leading to new JV formations or acquisitions?
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