Indian Oil appoints statutory auditors for the 2026-27 fiscal year
- Indian Oil Corporation appointed four firms as statutory auditors for FY27
- The appointments were made by the Comptroller and Auditor General of India
- Three firms received new appointments while MKPS & Associates was reappointed
- The Board noted the appointments in its meeting on September 21, 2026
*this image is generated using AI for illustrative purposes only.
Indian Oil Corporation has appointed four firms as its statutory auditors for the 2026-27 fiscal year. The Board of Directors noted these appointments, made by the Office of the Comptroller and Auditor General of India (C&AG), during its meeting on September 21, 2026.
The company disclosed the move pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The Board meeting commenced at 11:00 am and concluded at 1:15 pm.
Auditor Appointments
Three firms have been newly appointed, while one has been reappointed for the upcoming fiscal year. The details are as follows:
| Firm Name | Location | Status |
|---|---|---|
| Rama K Gupta & Co | New Delhi | Appointment |
| Borkar & Muzumdar | Mumbai | Appointment |
| S Guha & Associates | Kolkata | Appointment |
| MKPS & Associates LLP | Kolkata | Reappointment |
Firm Profiles
Rama K Gupta & Co, established in 1989, has 25 partners and operates through 18 branch offices across 10 states. Borkar & Muzumdar, founded in 1946, employs over 250 professionals and has experience with PSUs and listed entities. S Guha & Associates, established in 1960, comprises 21 partners and handles assignments for government-funded projects. MKPS & Associates LLP, set up in 1952, has more than 130 professionals and is empaneled with the C&AG and RBI.
Historical Stock Returns for Indian Oil Corporation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.20% | +1.60% | -0.38% | -7.42% | -6.71% | 0.0% |
How might the rotation of three new statutory auditors impact the consistency of Indian Oil Corporation's financial reporting and internal control assessments for FY2026-27?
Given Borkar & Muzumdar's extensive experience with PSUs, will their appointment signal a shift towards more stringent compliance scrutiny in line with recent government directives on public sector governance?
What are the potential implications for Indian Oil's audit timelines and cost structures given that two of the four appointed firms are based in Kolkata, potentially increasing logistical coordination complexity?
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