Oil India reported a sharp improvement in its sustainability metrics for FY26, with its S&P Global ESG rating jumping from 22 to 46. The Maharatna Central Public Sector Enterprise achieved a 17.93% reduction in combined Scope 1 and Scope 2 greenhouse gas (GHG) emissions against its FY24 baseline, reinforcing its commitment to reach net-zero by 2040.

The Business Responsibility and Sustainability Report (BRSR) highlights operational efficiencies that drove down carbon intensity from 0.189 to 0.179 million tonnes of CO2 equivalent per million metric tonnes of oil equivalent (MMTtoE). The company also reduced routine gas flaring by 78% over the base year and increased captive solar power generation by 45.78%.

What the Numbers Show

While total revenue declined slightly to ₹21,345.94 crore from ₹22,117.22 crore in FY25, energy efficiency improved significantly. Energy intensity per rupee of turnover fell to 949.60 GJ/INR Crore from 980.02 GJ/INR Crore. This divergence suggests that despite lower top-line growth, the company successfully decoupled energy consumption from revenue generation through operational upgrades.

Environmental Performance

Oil India’s decarbonisation efforts included the deployment of advanced methane detection using AUSEA technology across 24 installations. The company initiated green electricity procurement for the first time at its Field Headquarters. Key environmental indicators for FY26 are outlined below:

The company maintained a Zero Liquid Discharge system across operational areas, re-injecting treated effluent into water disposal wells. Five new water disposal wells were drilled during the year to strengthen infrastructure.

Social and Governance Highlights

Safety performance remained robust, with a Lost Time Injury Frequency Rate (LTIFR) of 0.209. Training coverage expanded, with 86.41% of employees and 53.10% of workers receiving Health, Safety, and Environment (HSE) capacity-building training.

Governance frameworks were strengthened through refreshed Risk Management, Equal Opportunity, and Information Security policies. A comprehensive Supplier Code of Conduct was introduced to promote ethical practices across the value chain. The company incurred a consolidated R&D expenditure of ₹211.36 crore, exceeding the target of ₹185.76 crore, reflecting continued focus on clean technology initiatives.

Oil India has issued the notice for its 67th Annual General Meeting (AGM), scheduled for September 17, 2026. The meeting will approve a final dividend of ₹1.00 per equity share for FY26 and address key governance matters.

The Maharatna Central Public Sector Enterprise will hold the virtual meeting at 11:00 am through Video Conferencing or Other Audio Visual Means (OAVM). The proceedings are deemed conducted at its registered office in Duliajan, Assam. In compliance with Regulation 30 and 34 of the SEBI (LODR) Regulations, 2015, the company is also submitting the Integrated Annual Report for FY 2025-26 alongside the notice.

AGM Agenda and Resolutions

The Board of Directors recommended the dividend during its meeting on May 13, 2026. Shareholders will vote on ordinary business items including the adoption of audited financial statements for the year ended March 31, 2026.

Key resolutions include:

• Re-appointment of Shri Abhijit Majumder as Director (Finance), who retires by rotation.
• Appointment of Shri Bhupinder Kumar as Government Nominee Director with effect from March 10, 2026.
• Authorization for the Board to decide remuneration for Statutory Auditors for FY27.

A special resolution seeks member consent to amend the Objects Clause of the Memorandum of Association, including re-numbering and bifurcation of clauses under 'The Objects to be pursued by the Company'.

E-Voting Schedule

Members holding shares as of the cut-off date, September 10, 2026, are eligible to vote. The remote e-voting facility operates for four days prior to the meeting.

Shareholders unable to cast votes remotely may use the e-voting system during the AGM proceedings. The voting platform is managed by Central Depository Services (India) Limited.

Tax Deduction at Source and KYC Compliance

Oil India will deduct tax at source on dividend payments in accordance with the Income Tax Act, 2025. To determine the applicable TDS rate, shareholders must submit Form-121 or Form-41 by September 7, 2026. The submission portal is accessible via the company’s investor services section.

Effective April 1, 2024, dividends for physical share holders are paid only through electronic mode. Payments will be withheld if KYC details, including PAN, nomination, contact information, bank account details, and specimen signatures, are not updated with the Registrar and Transfer Agent, KFin Technologies Limited. Physical shareholders are urged to dematerialize their holdings at the earliest.

Corporate Governance Details

Company Secretary Ajaya Kumar Sahoo issued the communication on August 25, 2026. Copies were dispatched to depositories, including National Securities Depository Limited and Central Depository Services (India) Limited, as well as KFin Technologies Limited. Further details are hosted on the company’s website and the e-voting agency portal.