Mumbai, Oct 23: GP Petroleums Limited has announced the appointment of Mr. Shirish Suvagia as Chief Financial Officer and Key Managerial Personnel, effective October 15, 2026.
Mr. Suvagia is a Chartered Accountant with over 23 years of experience across finance, treasury, strategic financial planning, mergers and acquisitions, and fundraising through debt and private equity. During his career, he has led treasury operations, debt and private equity fundraising initiatives, financial transformation projects, and the implementation of Ind AS and IFRS frameworks. He has also played an active role in IPO and Rights Issue related transactions, including the preparation of Draft Red Herring Prospectuses and Draft Letter of Offers.
He holds Bachelor's and Master's degrees in Commerce from the University of Mumbai, an Executive MBA in Strategy from IIM Indore, a CISA certification from ISACA, and an IFRS certification from ICAI.
As GP Petroleums continues to expand its lubricants business and pursue growth opportunities in India and international markets, the Company has been strengthening its leadership team to support its long-term strategic growth initiatives. Mr. Suvagia's appointment further strengthens the Company's financial leadership, adding depth in treasury management, capital raising, financial planning and controls to support its focus on disciplined growth, capital efficiency and long-term value creation for shareholders.
"We are delighted to welcome Mr. Suvagia to GP Petroleums," said Mr. Ayush Goel, Chairman & Managing Director, GP Petroleums Limited. "His experience across corporate finance, treasury, fundraising and mergers & acquisitions will be a valuable asset to the Company, particularly as we focus on capital allocation, business expansion and long-term value creation. We look forward to his contribution as we take the company forward. We are confident that his leadership and financial expertise will support the Company in creating sustainable value for all stakeholders."
Commenting on his appointment, Mr. Shirish Suvagia said,
"I am excited to join GP Petroleums at an important stage of its growth journey. IPOL is a well-established and respected brand with strong market fundamentals and significant opportunities ahead. I look forward to partnering with the Board and leadership team to further strengthen the Company's financial capabilities, support strategic growth initiatives, and drive long-term value creation for stakeholders."
In his role as CFO, Mr. Suvagia will oversee the Company's finance function, including financial strategy, treasury, business planning, capital allocation, fundraising, risk management, financial reporting, and internal controls. His appointment further strengthens GP Petroleums’ financial leadership as the Company pursues its growth and expansion plans.