Hindustan Petroleum announced the cessation of Shri Subodh Batra as Executive Director effective September 1, 2026. The departure is due to superannuation.

Management Change Details

The company disclosed the change in its senior management team in compliance with Regulation 30 read with Schedule III Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was issued on September 1, 2026.

Rakesh Kumar Singh, Company Secretary, signed the disclosure addressed to BSE Limited and National Stock Exchange of India Limited.

Hindustan Petroleum shareholders overwhelmingly approved the ₹19.25 per share final dividend for FY26 at its 74th Annual General Meeting held on August 26, 2026. The resolution passed with 99.21% support, reflecting strong backing for the payout plan.

The meeting, conducted via Video Conferencing/Other Audio Visual Means (OAVM), saw a total of 5,91,499 shareholders on record as of the cut-off date, August 19, 2026. While promoter group votes accounted for 100% participation across all resolutions, public institutional investors showed notable divergence on governance matters.

Voting Outcomes

Shareholders approved eight ordinary resolutions covering financial statements, dividends, director appointments, and related-party transactions. The voting results reveal a clear split between routine financial approvals and board composition changes.

Governance and Compliance

The Company Secretary read out the comments of the Comptroller and Auditor General of India (C & AG) and the Secretarial Audit Report for FY25-26. Vikas Kaushal, Chairman and Managing Director, presided over the proceedings, which were compliant with Ministry of Corporate Affairs provisions allowing virtual meetings for the seventh consecutive year.

Voting was conducted via remote e-voting prior to and during the AGM. The e-voting facility remained open for 15 minutes after the conclusion of the meeting to allow remaining members to cast their votes. The final voting results have been communicated to the stock exchanges and published on the company’s website.

What the Numbers Show

The voting pattern highlights a distinct separation between financial and governance approvals. While the dividend declaration and cost auditor remuneration received near-unanimous support (>99%), the reappointment of retiring director K S Shetty and the appointment of three new directors (Vikram Saxena, Alok Tripathi, and Srividya Venkataraman) faced dissent ranging from 13.42% to 16.08%. This dissent was primarily driven by public institutional investors, who voted against the director appointments at rates between 37% and 44%, despite unanimous support from the promoter group (Central Government).