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Sreekuttan scored the only goal for Blasters in the extra time.
Inter Kashi defeated Bengaluru FC 5-4 in shootout after the match ended 1-1 in regulation time to enter Super Cup quarterfinals.
Iker Guarrotxena scored a hat-trick as FC Goa crushed Gokulam Kerala 3-0 in Super Cup.
Kerala Blasters failed to reach the playoffs of the ISL after finishing eighth in the league.
Kerala Blasters will take on East Bengal in their Super Cup opener on April 20.
Gokulam Kerala will take on FC Goa in the Super Cup on April 21.
Catala will be in charge of the Blasters starting with the Super Cup later this month.
'When we headed to Bhubaneswar, our sole aim was to play the three group matches and return to Kochi to prepare for the ISL', says the head coach.
Both teams were already out of the semifinal race. Punjab finished third with two points, while Gokulam ended at the bottom with a lone point in the four-team group.
The Blasters lost 1-4 in their final group match of the Super Cup.
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