Detailed Summary

The 41st Annual General Meeting (AGM) of Gujarat Industries Power Company Limited was held on Saturday, 19th September 2026, from 11:30 AM to 12:36 PM through Video Conference (VC) / Other Audio-Visual Means (OAVM), pursuant to Para A of Part A to Schedule III of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013.

Attendance of Directors:

The following directors were present:

1. Dr. Jayanti S. Ravi, IAS, Additional Chief Secretary (Revenue), Revenue Department, Government of Gujarat - Chairperson

2. Shri S S Bhatt - Independent Director

3. Shri N N Misra - Independent Director

4. Shri P S Singh - Independent Director

5. Shri Nitin Chand - Independent Director

6. Shri D R Shukla - Independent Director

7. Dr. H Dholakia - Independent Director

8. Shri M Bisl - Independent Director

9. Shri S K Roy - Independent Director

10. Shri K S Badlani - Director (withdrawn from Gujarat State Fertilisers & Chemicals Limited effective 31/08/2026)

11. Shri S G Bhatt - Director

In Attendance:

  • CA K K Bhatt - Executive Director (Finance) and Chief Financial Officer
  • CS Shalin Patel - Company Secretary & Compliance Officer

Other Representatives:

  • M/s. KC Mehta Co. & LLP, Chartered Accountants - Statutory Auditors
  • M/s. TNT & Associates, Practicing Company Secretaries - Secretarial Auditors
  • CS Shailja Pandya, Practicing Company Secretary - Independent Scrutinizer

Members Present:

62 members were present through Video Conference.

Proceedings:

The Chairperson, Dr. Jayanti S. Ravi, commenced the meeting after ascertaining quorum was present. She welcomed members and introduced the directors. The meeting was held via VC as per circulars from the Ministry of Corporate Affairs (MCA) and SEBI Regulations.

The Notice of AGM, Audited Standalone Financial Statements for the financial year ended 31st March 2026, Report of Board of Directors, Management Analysis & Discussion Report, Corporate Governance Report, and Business Responsibility and Sustainability Report were deemed read as they were circulated to members.

The Company Secretary confirmed that the Statutory Auditor's Report on the Financial Statements for FY 2025-26 had no qualifications, and the Secretarial Audit Report also contained no adverse qualifications, indicating adherence to financial and accounting standards.

The Chairperson addressed the members, highlighting the company's financial and operational performance, status of ongoing projects, growth plans, and CSR initiatives.

E-Voting:

Remote e-voting was provided from Wednesday, 16th September 2026 (09:00 AM IST) to Friday, 18th September 2026 (05:00 PM IST). E-voting during the AGM was available for members who had not voted remotely, and it remained open till 15 minutes after the AGM concluded. CS Shailja Pandya was appointed as Independent Scrutinizer for the e-voting process.

Resolutions:

The following resolutions were proposed for approval through remote e-voting and e-voting during the AGM:

1. Ordinary Business: Adoption of audited financial statements for FY 2025-26, reports of Board of Directors, and Auditors' reports.

2. Ordinary Business: Declaration of dividend on equity shares for FY 2025-26.

3. Ordinary Business: Appointment of Shri K S Badlani (DIN: 10237996) as Director, who has withdrawn from Gujarat State Fertilisers & Chemicals Limited.

4. Ordinary Business: Appointment of Shri S G Bhatt (DIN: 02025125) as Director.

5. Special Business: Fixation of remuneration for Statutory Auditors for the financial year 2026-27.

Members who registered as speakers shared queries; they complimented management on overall performance and CSR activities.

Conclusion:

Results of remote e-voting and e-voting during the AGM will be declared after receipt of the Scrutinizer's Report and placed on the company website, website of Central Depository Services (India) Limited, and filed with BSE Limited and National Stock Exchange of India Limited. The resolutions shall be deemed passed upon declaration of results. The Chairperson declared the meeting concluded at 12:36 PM.

The Company Secretary expressed vote of thanks.