Srividya Venkataraman Takes Charge as Director Finance at HPCL

Srividya Venkataraman has assumed charge as Director (Finance) at Hindustan Petroleum Corporation Limited, according to the company. The appointment fills the board-level finance position at one of India's three integrated oil marketing companies, responsible for managing a corporation with revenues exceeding Rs 4.5 lakh crore annually.

The Director (Finance) at HPCL is a functional director on the company's board, carrying responsibility for treasury operations, capital expenditure financing, debt management, investor relations, and financial reporting for a company that operates two major refineries — at Mumbai and Visakhapatnam — along with a nationwide fuel marketing and distribution network. HPCL is a Navratna central public sector enterprise listed on the stock exchanges, under the Ministry of Petroleum and Natural Gas.

Board-level finance appointments at oil marketing companies are made through the Public Enterprises Selection Board process and require Appointments Committee of the Cabinet approval. The position demands expertise in hydrocarbon sector economics, working capital management for a high-volume commodity business, and handling the financial disclosures required of a listed public sector company with millions of retail shareholders.

HPCL is currently managing significant capital investment in its Rajasthan refinery project — a 9 MMTPA greenfield facility at Barmer being developed in a joint venture with the Government of Rajasthan. Managing the financial architecture for this capital-intensive project, alongside ongoing capacity expansion at existing refineries, is among the immediate priorities for the incoming Director (Finance).

The company also operates an LPG bottling network, lube oil plants, and aviation fuelling stations, adding operational complexity to the finance function. Venkataraman's tenure will coincide with HPCL's efforts to reduce debt levels accumulated during the COVID-19 period, manage refining margin volatility, and execute its stated investments in green hydrogen and city gas distribution.

Her predecessor in the Director (Finance) role oversaw HPCL through a period of sustained crude oil price volatility and regulated fuel pricing that repeatedly compressed marketing margins and required careful liquidity management. Venkataraman assumes the role as the company returns to more stable operating conditions. Her appointment was confirmed by the PESB process and approved by the ACC prior to her taking charge.