Oil India shareholders approve Re 1 dividend, capital hike at 67th AGM
- Oil India shareholders approved a final dividend of Re 1 per share with 98.53% support
- All nine resolutions passed, including authorized capital hike and MoA/AoA amendments
- Promoter group voted unanimously in favor of all agenda items
- Public institutional dissent was highest on appointment of Govt Nominee Director (10.45% against)
- 124 shareholders attended via video conference; no physical attendance recorded
*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. Official voting results confirm that all nine resolutions were passed with requisite majority.
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.
Voting Participation
As on the record date of September 10, 2026, there were 442,492 shareholders. Of these, 124 members attended the meeting through video conferencing (one promoter group representative and 123 public shareholders). No shareholders attended in person or through proxy.
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 |
Detailed Voting Results
The promoter group, holding 921,564,990 shares (56.66% of total voting rights), voted in favor of all resolutions with 100% support. Public institutional investors showed varying levels of dissent on specific director appointments and capital hikes, while public non-institutional investors supported nearly all items overwhelmingly.
| Resolution | Total Votes Polled | Votes In Favor (%) | Votes Against (%) |
|---|---|---|---|
| Adopt Financials | 1,465,198,161 | 95.94% | 4.06% |
| Final Dividend (Re 1) | 1,465,555,058 | 98.53% | 1.47% |
| Re-appoint A. Majumder | 1,465,426,185 | 92.68% | 7.32% |
| Statutory Auditor Fees | 1,465,426,185 | 99.96% | 0.04% |
| Appoint B. Kumar | 1,465,402,025 | 89.55% | 10.45% |
| Amend MoA Objects | 1,465,426,105 | 100.00% | 0.00% |
| Increase Auth Capital | 1,465,426,210 | 93.13% | 6.87% |
| Amend AoA | 1,465,426,185 | 98.23% | 1.77% |
| Cost Auditor Fees | 1,465,426,185 | 98.53% | 1.47% |
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 |
|---|---|---|---|---|---|
| -0.78% | -0.11% | -10.48% | -3.37% | +6.41% | +177.48% |
How will the approved increase in authorized share capital facilitate Oil India's upcoming expansion projects or potential equity fundraising initiatives?
What specific strategic shifts or new business verticals are anticipated following the amendment to the Objects Clause of the Memorandum of Association?
Given the dissenting votes on director appointments, how might this influence future corporate governance dynamics and board decision-making processes?
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