Oil India approves Re 1 dividend, capital hike at 67th AGM
- Oil India approved a final dividend of Re 1 per share for FY26
- Shareholders authorized an increase in the company's share capital
- Amendments to the Memorandum and Articles of Association were passed
- Shri Abhijit Majumder was re-appointed as Director by rotation
- The meeting covered updates on Green Energy and Net Zero initiatives
*this image is generated using AI for illustrative purposes only.
Oil India Limited shareholders approved a final dividend of Re 1 per equity share for FY26 during the 67th Annual General Meeting held on September 17, 2026. The meeting also sanctioned an increase in authorized share capital and amendments to the Memorandum and Articles of Association.
The virtual meeting commenced at 11:00 am and concluded at 2:12 pm. Dr. Ranjit Rath, CMD, chaired the proceedings. The quorum was present throughout. Members voted via remote e-voting through the CDSL portal from September 13 to September 16, 2026, as well as during the meeting. Ms. Parul Jain of M/s VAP & Associates served as the scrutinizer.
Resolutions Approved
Shareholders passed nine resolutions covering ordinary and special business items. The key outcomes included:
| Resolution Type | Key Action | Status |
|---|---|---|
| Ordinary | Adopt Audited Financial Statements for FY26 | Passed |
| Ordinary | Declare Final Dividend of Re 1 per share | Passed |
| Ordinary | Re-appoint Shri Abhijit Majumder as Director | Passed |
| Ordinary | Authorize Statutory Auditor Remuneration for FY27 | Passed |
| Ordinary | Appoint Shri Bhupinder Kumar as Govt Nominee Director | Passed |
| Special | Amend Objects Clause of MoA | Passed |
| Ordinary | Increase Authorized Share Capital | Passed |
| Special | Amend Articles of Association (AoA) | Passed |
| Ordinary | Ratify Cost Auditor Remuneration for FY27 | Passed |
Management Highlights
Dr. Rath highlighted the company’s performance for FY26 and developments across various fronts. During the Q&A session, members raised queries regarding the Samudra Manthan Scheme, Green Energy initiatives, Net Zero goals, Critical Minerals, ESG activities, CSR programs, Future Outlook, Research & Development, and Compressed Biogas (CBG).
The Company Secretary confirmed that the meeting adhered to the Companies Act 2013, SEBI (LODR) Regulations 2015, and Secretarial Standards. The voting results will be notified to stock exchanges within two working days.
Historical Stock Returns for Oil India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.09% | -4.32% | +1.90% | +3.76% | +19.69% | +238.58% |
How will the approved increase in authorized share capital facilitate Oil India's upcoming expansion projects or potential capital raising activities?
What specific strategic initiatives are implied by the amendments to the Memorandum and Articles of Association regarding the company's long-term business scope?
Given the focus on Green Energy and Net Zero goals during the AGM, how might Oil India's investment in Compressed Biogas and critical minerals impact its revenue mix in FY27?
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