GRSE 110th AGM Approves ₹19.60 Dividend, Director Appointments

Date: Friday, 25th September, 2026
Time: 1030 Hrs.
Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
Type: Annual General Meeting

The AGM considered eight resolutions:

Ordinary Resolution No. 1: To receive, consider and adopt the audited financial statements for FY2025-26 along with Reports of Board of Directors, Auditors, and comments of C&AG
Ordinary Resolution No. 2: To confirm payment of Interim Dividend of ₹5.75 per equity share and Second Interim Dividend of ₹7.15 per equity share and to declare Final Dividend of ₹6.70 per equity share (total Dividend of ₹19.60 per equity share for FY2025-26)
Ordinary Resolution No. 3: To appoint a director in place of Capt. Sunilkumar Panangadan, IN (Retd.) (DIN: 11193635) who retires by rotation
Ordinary Resolution No. 4: To fix remuneration of Statutory Auditors to be appointed by C&AG for FY2026-27, authorizing the Board to determine the amount
Ordinary Resolution No. 5: To confirm appointment of Shri Niranjan Mukund Bhalerao (DIN: 10941391) as Whole-time Director designated as Director (Finance)
Ordinary Resolution No. 6: To confirm appointment of Dr. Vijay Namdeorao Zade (DIN: 05142336) as Government Nominee Director
Ordinary Resolution No. 7: To ratify remuneration payable to Cost Auditors for FY2026-27
Special Resolution No. 8: To approve alteration of Articles of Association with specific amendments to Articles 260(c), 261(b), 261(c), and 261(y) to align with government guidelines for Navratna/Maharatna companies

The Company provided remote e-voting facility to all members as of the record date of 18th September, 2026.

E-voting period: From 9:00 a.m. on Sunday, 20th September, 2026 to 5:00 p.m. on Thursday, 24th September, 2026
AGM e-voting: Members present through VC/OAVM who hadn't voted remotely could vote during the AGM
Scrutinizer: M/s. A.K. Labh & Co., Company Secretaries was appointed to scrutinize both remote e-voting and AGM e-voting
Voting duration: E-voting during AGM remained open for 30 minutes from meeting conclusion

Total members attended: 109 members including representative of President of India
Chairman: Cmde P R Hari, IN (Retd.), Chairman & Managing Director
Directors present: All directors attended from deemed venue and through VC/OAVM
Physical attendance at GRSE Bhavan, Kolkata: Cdr. Shantanu Bose, IN (Retd.) (Director - Shipbuilding); Capt. P Sunilkumar, IN (Retd.) (Director - Corporate Planning & Personnel); Mr. Niranjan Mukund Bhalerao (Director - Finance and CFO); Mr. Sandeep Mahapatra (Company Secretary & Compliance Officer)
Virtual attendance: Dr. Vijay Namdeorao Zade (Joint Secretary - Naval System, Government Nominee Director); Mr. Kamleshbhai Shashikantbhai Mirani (Part-Time Non-Official Independent Director)
Invitees: Smt. Pinky Gupta (Under Secretary - Naval System, Government of India); Mr. B S Kundu (Partner, M/s. Guha Nandi & Co, Statutory Auditor); Ms. Raveena Dugar Agarwal (M/s. Mehta & Mehta, Secretarial Auditor); Mr. A K Labh (M/s. A K Labh & Co., Scrutinizer)

The meeting was conducted in accordance with MCA and SEBI circulars
Annual Report for FY2025-26 and AGM notice were sent via email on 3rd September, 2026
For members without registered email, a letter with web-link to documents was sent
Register of Directors and Key Managerial Personnel was available for inspection on NSDL's e-voting platform
The Chairman confirmed no qualifications in Independent Auditors' Report and Secretarial Auditors' Report for FY2025-26
'NIL' comments were received from C&AG on Audited Financial Statements for FY2025-26

Combined results of remote e-voting and AGM e-voting to be declared and communicated to stock exchanges within two working days from AGM conclusion
Results to be uploaded on Company website and NSDL website