Indian Oil Corporation Limited (IndianOil), a Maharatna company, has announced a significant change in its leadership team. Shri Saumitra Priya Srivastava has been appointed as the new Director (Marketing) of the company, effective October 3, 2025.

Appointment Details

The appointment comes following a directive from the Ministry of Petroleum and Natural Gas (MOP&NG), as per the company's disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. Shri Srivastava, who holds the Director Identification Number (DIN) 10236956, will assume his new role from the afternoon of October 3, 2025.

Professional Background

Shri Saumitra Priya Srivastava brings over three decades of rich and diverse experience in the Oil and Gas industry to his new position. His educational background includes:

• Civil Engineering degree from IIT Roorkee
• MBA from SP Jain Institute of Management & Research, Mumbai

Career Highlights

Prior to his elevation as Director (Marketing), Shri Srivastava has held several key positions and led important initiatives within IndianOil:

• Led the Corporate Strategy Group
• Played a crucial role in the rollout of SPRINT, a company-wide transformation programme launched in April 2025
• Championed initiatives focused on enhancing customer satisfaction and streamlining operations
• Served as the State Head for Maharashtra
• Instrumental in driving transformative projects including:
  • Structured Non-Fuel Convenience Store initiative
  • Dhruva - Retail Transformation Project
  • Various technology and digitalisation programmes reshaping the retail landscape

Leadership Style and Achievements

Shri Srivastava is renowned for his collaborative and results-oriented leadership style. Throughout his career, he has consistently delivered:

• Business growth
• Improved profitability
• Elevated customer experience

Current Directorships

In addition to his new role, Shri Srivastava holds directorships in the following group companies:

Company Statement

IndianOil has confirmed that Shri Saumitra Priya Srivastava is not related to any other Director of the company. The company also stated that he is not debarred from holding the office of Director by virtue of any order from SEBI or any other authority.

This appointment marks a significant step for IndianOil as it continues to strengthen its leadership team with experienced professionals to drive growth and innovation in the dynamic oil and gas sector.

Indian Oil Corporation (IOC), India's largest public sector undertaking, has unveiled its strategic transformation initiative called 'SPRINT' during an analyst and investor meet held on September 26, 2025. The company aims to reinforce its position as a leader in the energy sector while adapting to the evolving global energy landscape.

SPRINT: A Six-Pronged Approach

The SPRINT strategy focuses on six key areas:

1. Strengthening core businesses
2. Propelling cost optimization
3. Reinforcing customer centricity
4. Integrating technology and innovation
5. Nurturing leadership and talent
6. Transition readiness

Impressive Financial and Operational Metrics

Indian Oil Corporation reported a revenue of ₹8.50 trillion, underlining its significant contribution to the Indian economy. The company's vast network includes over 40,000 retail outlets and boasts a refining capacity of 81 MMT.

Early Results Show Promise

The SPRINT initiative, launched on April 1, 2025, has already begun to show positive results:

• 50% increase in retail outlet commissioning, with a higher share of Class A & D1 outlets
• 5% improvement in energy efficiency across refineries
• 8% growth in auto lubricants, driving a 5% market share gain

Future-Focused Objectives

As part of its strategic transformation, Indian Oil Corporation aims to:

• Maintain its position as India's largest refining player
• Expand into petrochemicals and green energy sectors
• Develop new business segments

Upcoming Investor Engagement

In a separate announcement, IOC has scheduled a group meeting with analysts, arranged by ICICI Securities, to be held in New Delhi on September 30, 2025. This physical meeting underscores the company's commitment to transparent communication with its stakeholders.

Indian Oil Corporation's SPRINT initiative represents a significant step towards adapting to the changing energy landscape while leveraging its core strengths. As the company embarks on this transformative journey, stakeholders will be keenly watching its progress in achieving its ambitious goals and maintaining its market leadership.