Lanka IOC PLC successfully concludes 24th Annual General Meeting

Tuesday, 14 July 2026 07:24 - - {{hitsCtrl.values.hits}}

Lanka IOC PLC successfully conducted its 24th Annual General Meeting (AGM) on 09 July 2026 , reaffirming the Company’s commitment to sustainable growth, sound corporate governance, and long-term value creation for its shareholders and stakeholders.

The AGM was attended in person by Chairman Anuj Jain, Managing Director K. Raghu in the presence of Directors of the Board Saumitra P. Srivastava, Rajesh Singh, Manil Jayesinghe, S Renganathan through VC and Company Secretary.

During the AGM the Board presented the Company’s Annual Report and Audited Financial Statements for the financial year ended 31 March 2026, providing shareholders with a comprehensive overview of the Company’s financial performance, operational achievements, strategic initiatives, and future growth plans.

Addressing the shareholders, the Chairman highlighted the LIOC’s ability to successfully navigate a challenging operating environment characterised by global geopolitical uncertainties, volatility in international energy markets, and evolving domestic economic conditions. Despite these challenges, Lanka IOC continued to ensure the uninterrupted supply of petroleum products across Sri Lanka while strengthening its operational capabilities and expanding its business portfolio.

The Company also outlined its strategic priorities, including investments in digital transformation, expansion of its retail network, growth of the lubricants and petrochemical businesses, enhancement of operational efficiencies, and the pursuit of sustainable energy opportunities, including electric vehicle charging infrastructure and renewable energy projects through strategic partnerships.

Shareholders present at the meeting approved the adoption of the Audited Financial Statements for the year ended 31 March 2026, declaration of dividend, the appointment/re-election of Directors, and the appointment of the External Auditors, demonstrating their continued confidence in the Company’s governance framework and long-term strategy.

The AGM also provided shareholders with an opportunity to engage directly with the Board through an interactive question-and-answer session covering key topics such as industry developments, fuel pricing, sustainability initiatives, business diversification, and the Company’s outlook for the coming year.

Expressing appreciation to shareholders, customers, employees, business partners, regulators, and all stakeholders, the Chairman reaffirmed Lanka IOC’s commitment to maintaining the highest standards of corporate governance, delivering operational excellence, supporting Sri Lanka’s energy security, and creating sustainable value for all stakeholders.

As Lanka IOC moves forward, the Company remains focused on strengthening its market leadership, accelerating its sustainability journey, and pursuing strategic growth opportunities that will contribute to Sri Lanka’s economic development while delivering sustainable long-term returns to its shareholders.