Meeting Details

The 63rd Annual General Meeting was held on Wednesday, 30th September 2026 at 11:00 AM (IST) through Video Conferencing (VC)/Other Audio-Visual Means (OAVM).

Directors and Attendees Present

Directors Present:

  • Smt. Gauri Kumar, IAS (Retd.) - Independent Director, Chairperson of Audit Committee
  • Shri Rajinder Khanna, IPS (Retd.) - Independent Director, Chairman of Nomination & Remuneration Committee
  • Dr. Sharvil Patel - Independent Director, Chairman of Stakeholders Relationship Committee

In Attendance:

  • Smt. A K Iyer, GM (A/cs) & Chief Financial Officer
  • Shri Joel Evans, Company Secretary
  • Other Senior Officers of GMDC
  • Representative of Statutory Auditors
  • Shri Manoj Hurkat, Practicing Company Secretary - Scrutinizer

Members Present: Total 54 members were present through Video Conferencing, including the representative of H.E. the Governor of Gujarat.

Chairman: Dr. Hasmukh Adhia, IAS (Retd.), Chairman of the Company chaired the meeting.

Proceedings Summary

The meeting began with Shri Ajay Bhadoo, IAS, Managing Director welcoming all members. Quorum was confirmed as per MCA Circulars and SEBI (LODR) Regulations, 2015. The notice of AGM was taken as read with members' consent.

The Company Secretary confirmed that Audit Reports on Financial Statements audited by M/s. Dhirubhai Shah & Co LLP, Chartered Accountants as per Indian Accounting Standard (IND AS) for Financial Year 2025-26 and Secretarial Audit Report were available in the 63rd Annual Report, with no qualifications or modified opinions from auditors.

Chairman's Speech Highlights

The Chairman highlighted GMDC's strong performance aligned with India's Viksit Bharat @2047 vision, expansion beyond Gujarat into multi-state mining enterprise, growing lignite operations in Gujarat and coal assets in Odisha to strengthen national energy security, and building capabilities in strategic minerals like Copper and Rare Earth Elements to reduce import dependence. Appreciation was expressed to Government of Gujarat, Government of India, Board of Directors, management team, employees, shareholders, customers, business partners, and communities around GMDC's operations.

Voting Process

Remote e-voting facility was provided from 27th September, 2026 (9:00 AM) to 29th September, 2026 (5:00 PM). Members who had not voted earlier were provided with e-voting facility during the AGM, which remained open till 20 minutes post conclusion of the Meeting. Shri Manoj Hurkat, Practicing Company Secretary, was appointed as Scrutinizer to supervise the E-voting process.

Business Items Considered

Ordinary Business:

1. To receive, consider and adopt the financial statements (standalone & consolidated) for the year ended 31st March, 2026, including Balance Sheet, Statement of Profit and Loss, Statement of Changes in Equity and Cash Flow Statement together with Reports of Board of Directors and Auditors thereon and Comments of Comptroller and Auditor General of India.

2. To declare dividend at the rate of Rs. 9.50 per Equity Share of Rs. 2/- each, fully paid-up Equity Share, @ 475%, for Financial Year ended 31st March, 2026.

3. To fix the remuneration of the Statutory Auditors for Financial Year 2026-27.

Special Business:

4. To appoint Shri Sandeep Kumar, IAS, as Director of the Company.

5. To ratify the remuneration payable to the Cost Auditors of the Company for Financial Year 2026-27.

Voting Results and Compliance

The voting results along with Scrutinizer's Report will be submitted separately in terms of Regulation 44 of SEBI Listing Regulations within the prescribed timeline. Results will be declared and placed on Company's website, CDSL, BSE and NSE.

Meeting Conclusion

The meeting concluded at 11:15 AM with no questions from shareholders. The Chairman thanked members for their participation.