New Delhi: Sandeep Kumar Gupta has taken over as Director (Finance) on the Board of Indian Oil Corporation (IOC) on Monday. Earlier, he was Executive Director (Corporate Finance) at Indian Oil's Corporate Office and was also functioning as the Chief Financial Officer and Chief Risk Officer in-charge of Corporate Accounts, Treasury, Investment Appraisal and Risk Management. A Commerce Graduate and a Chartered Accountant by qualification, Gupta has over 31 years of work experience in Indian Oil.
Besides handling a diverse gamut of financial and accounting functions at Indian Oil's refinery units in north, west and north-east India for over two decades, his significant experience at Indian Oil's Refineries Headquarters and Corporate Office includes hydrocarbon contracting, corporate accounts, planning and analysis, treasury functions, financial concurrence, risk management, etc.
Gupta's tenure in various capacities during the last decade witnessed major events demanding his contribution, viz., two volatile global oil price cycles, depressed refinery margins, reviews of pricing mechanism, deregulation of petrol/diesel, the transition to IndAS, unprecedented ECBs, maiden buy-back of shares, etc. He also spearheaded several stakeholder-friendly voluntary initiatives like the first Integrated Annual Report by a PSU and the declaration of consolidated financial results on a quarterly basis. Gupta also brings with him rich experience of being on the boards of Indian Oil's wholly-owned overseas subsidiary, IOC Middle East FZE, and domestic joint venture company, Indian Oil Petronas Pvt Ltd.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)