Indian Oil Corporation (IOC), India's leading oil refining and marketing company, has received a 'BBB' credit rating from S&P Global Ratings, accompanied by a stable outlook. This rating underscores IOC's solid financial position and its capacity to meet financial commitments.

Understanding the 'BBB' Rating

The 'BBB' rating assigned by S&P falls within the investment-grade category, indicating that Indian Oil Corporation possesses adequate capacity to meet its financial obligations. This rating suggests that IOC maintains a relatively strong financial profile, which is crucial for a company operating in the capital-intensive oil and gas sector.

Implications of the Stable Outlook

S&P's stable outlook for IOC implies that the rating agency expects the company to maintain its current financial and operational performance in the foreseeable future. This outlook can be seen as a vote of confidence in IOC's business model and financial management.

Key Takeaways

1. Investment Grade Status: The 'BBB' rating places IOC firmly in the investment-grade category, which could potentially attract a wider range of investors.
2. Financial Stability: The rating suggests that IOC has demonstrated adequate financial strength and stability.
3. Market Confidence: A stable outlook from a major rating agency like S&P can boost market confidence in IOC's financial health.

This rating comes at a time when the global oil and gas industry faces various challenges, including price volatility and increasing focus on renewable energy. For Indian Oil Corporation, maintaining an investment-grade rating highlights its resilience and adaptability in a dynamic market environment.

Investors and stakeholders may view this rating positively, as it provides an independent assessment of IOC's creditworthiness from a respected global rating agency. However, it's important to note that credit ratings are just one factor to consider when evaluating a company's overall financial health and investment potential.

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.