In a significant move reflecting HPCL's (Hindustan Petroleum Corporation Limited) ongoing management restructuring, Indrajit Dasgupta has been promoted to the role of Executive Director - Finance at HPCL Rajasthan Refinery Limited. This promotion is effective from May 1, 2025, and falls in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The promotion of Indrajit Dasgupta underscores HPCL's focus on strengthening its leadership and positioning key executives to drive forward its ambitious projects, including those tied to its Rajasthan Refinery. The Rajasthan Refinery project is part of HPCL's larger strategy to increase its refining capacity and establish a stronger presence in the region. Dasgupta's extensive experience and financial expertise make him a valuable asset in overseeing the financial operations and strategic initiatives tied to this critical project.

Indrajit Dasgupta, who holds an MBA, FCA (Fellow of the Institute of Chartered Accountants of India), and CMA (Certified Management Accountant), has been with HPCL for a significant duration and has built a strong reputation for his financial acumen and leadership capabilities. His extensive background in the finance sector will serve him well as he steps into this new role at one of HPCL's key subsidiaries. The promotion reflects the company's commitment to empowering its leadership with the right expertise to manage large-scale, high-investment projects like the Rajasthan Refinery.

As an Executive Director, Dasgupta will now take on additional responsibilities in managing finance-related operations and contributing to the strategic decision-making processes that will drive HPCL’s business growth. His promotion to this role indicates HPCL's strategic focus on financial leadership, which will be critical to ensuring the successful implementation and execution of HPCL Rajasthan Refinery Limited's plans.

HPCL has always been committed to strong governance and effective management practices, and the elevation of Dasgupta to an Executive Director role is aligned with the company’s broader goals of leadership development and operational excellence.

HPCL Rajasthan Refinery is a significant part of HPCL’s expansion plans, with a focus on increasing the country’s refining capacity and contributing to the energy sector. The promotion of Indrajit Dasgupta will further solidify HPCL’s commitment to financial excellence and leadership in this critical area.

This decision is in compliance with the SEBI LODR regulations, specifically Regulation 30, which mandates disclosures of key changes in senior management and leadership within publicly listed companies. The promotion reflects HPCL’s continued efforts to ensure robust management practices and build a team capable of handling large-scale projects while maintaining high levels of financial discipline and governance.

As part of this transition, HPCL remains focused on maintaining operational excellence and delivering strong financial performance, ensuring the company stays on track in achieving its long-term strategic goals. With this promotion, HPCL is well-positioned to tackle the challenges and opportunities presented by both domestic and international markets in the energy and refining sectors.

In conclusion, Indrajit Dasgupta’s promotion is a crucial development for HPCL, aligning with the company’s vision for leadership in the energy sector, and reflects its commitment to enhancing its financial leadership as it works towards the successful execution of its key projects, including the HPCL Rajasthan Refinery.

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