Gokul Refoils & Solvent Ltd

AGM Details

• AGM held 29 September 2026 at 10:30 AM at Registered Office, Gujarat; physical meeting with remote e-voting.

Key Resolutions

• Item 1: Adoption of financial statements approved; 99.99% in favour.
• Item 2: Re-appointment of Shaunak Mandalia approved; 99.99% in favour.
• Item 3: Gharia Independent Director approved; 99.69% in favour.
• Item 4: Mansi Parikh Independent Director approved; 99.99% in favour.
• Item 5: RPT with subsidiary FY2026-27 approved; 98.03% in favour.
• Item 6: RPT with subsidiary FY2026-27 approved; 99.99% in favour.

Director Changes

• Shaunak Mandalia re-appointed as director.
• Jayendrasinh Gharia re-appointed as Independent Director.
• Mansi Parikh appointed as Independent Director.

Material Related Party Transactions

• Approval of related party transactions proposed with the subsidiary for FY2026-27.

AGM Details

• AGM held on 29 September 2026 at 10:30 AM at the registered office, Sidhpur, Gujarat.
• Meeting mode: physical; e-voting from 26-09-2026 to 28-09-2026.
• Meeting concluded at 11:15 AM.

Ordinary Resolutions

• Adoption of audited standalone and consolidated financial statements for FY 2025-26.
• Re-appointment of Shaunak Bhikhalal Mandalia, retiring by rotation.

Special Resolutions

• Re-appointment of Jayendrasinh Pratapsinh Gharia as Independent Director.
• Appointment of Mrs. Mansi Viral Parikh as Independent Director.
• Approval of material related party transactions with subsidiary for FY 2026-27 (RPT 1).
• Approval of material related party transactions with subsidiary for FY 2026-27 (RPT 2).

Voting Status

• Voting results awaited; Scrutinizer's report to be submitted.

Gokul Refoils & Solvent Limited – Trading Window closed from October 01, 2026 until 48 hours after declaration of financial results for the quarter and half year ended September 30, 2026.

Cessation of Independent Director

• Mrs. Chetna Vyas, Independent Director, completed second and final term; ceased September 9, 2026.

Financial performance

• Standalone revenue from operations rose to ₹74,650.21 lakhs from ₹1,057.35.
• Consolidated revenue from operations ₹4,12,047.87 lakhs, up 17.36% YoY.
• Standalone PBIDTA ₹502.57 lakhs, up from ₹473.79.
• Consolidated PBIDTA ₹6,868.51 lakhs, up from ₹6,479.81.
• Standalone PBT ₹390.74 lakhs; down from ₹426.71.
• Standalone PAT ₹311.90 lakhs; down from ₹336.36.
• Consolidated PAT ₹1,847.82 lakhs; up from ₹1,480.85.
• EPS: Standalone ₹0.32; Consolidated ₹1.87.
• Consolidated net debt/adjusted ₹32,243.31 lakhs; D/E ratio 0.89x.

Operations & geography

• Gokul Agri International Ltd (GAIL) is the main subsidiary, contributing ~82% of consolidated revenue.
• Geography: India ₹3,28,349.05 lakhs; Outside India ₹83,466.54 lakhs (FY2025-26).
• One customer accounts for >10% of revenue; ₹54,817.46 lakhs in FY2025-26.
• Single primary segment under Ind AS 108; edible and non-edible oils and related services.

Dividends & shareholder returns

• Board did not declare any dividend for FY2025-26.
• 33rd AGM scheduled for 29 September 2026; remote e-voting facility available.
• Cut-off date for e-voting eligibility: 22 September 2026.

Business developments

• GAIL (100% subsidiary) dominates revenue; PSC is a step-down subsidiary.
• Gujarat Gokul Power Ltd is an associate with 48% holding by GRSL.
• New independent directors appointed: Pankaj Granthsingh Kumar (Aug 1, 2025); Mansi Viral Parikh (Sept 10, 2026).
• Jayendrasinh Pratapsinh Gharia proposed for second term as Independent Director (Nov 9, 2026).
• Material related-party transactions with GOIL and GNPL governed by policy and arm's length.

Governance & risk

• Board of 6 directors; 3 Independent; 1 woman Independent.
• Independent Directors' meeting held on 13 Feb 2026.
• Statutory auditor: M.R. Pandhi & Associates; Secretarial: Agarwal & Mehta; no qualifications.
• Whistle Blower policy in place; zero cases in FY2025-26.
• Company complied with SEBI Listing Regulations 2015 governance requirements.

Related party transactions

• Material related-party transactions with GOIL and GNPL; approved by Audit Committee and Members.
• GOIL holds 7.5% direct equity in GOIL; GRSL holds 7.5% in GOIL.
• Omnibus approval for repetitive RPTs; terms are arm's length and in ordinary course.
• RPT disclosures and policies hosted on company website.

CSR & sustainability

• CSR spend for FY2025-26: ₹39.00 lakhs; includes ₹39.00 lakh to Gokul Foundation for Education Development.
• CSR policy available on gokulgroup.com; average net profit used to compute CSR obligation where applicable.
• Group installed renewable energy assets: wind turbines (3 x 3.75 MW) and 4.6 MW solar plant for captive use.

Outlook & risks

• India's edible oil market expected to grow with NMEO-Oilseeds initiative.
• Risks include commodity price volatility, import dependence, currency and logistics disruptions.
• Focus on branding, distribution expansion, and value-added products to capture opportunities.

Key transaction details

• Target Company: Gokul Refoils & Solvent Limited.
• Disclosing Party: Bhikhiben Balvantsinh Rajput and PAC; promoter group.
• Transaction Type: Acquisition of equity shares; open market.
• Pre-Transaction Holding: 2,29,55,607 shares (23.1887%).
• Transaction Details: 1,02,000 shares acquired (0.1030%).
• Post-Transaction Holding: 2,30,57,607 shares (23.2917%).
• Date of Transaction: September 01, 2026.
• Equity capital before/after: Rs 19,79,90,000; 9,89,95,000 shares.
• Total diluted capital: Rs 19,79,90,000; 9,89,95,000 shares.

Transaction details

• Target: Gokul Refoils and Solvent Limited.
• Disclosing party: Bhikhiben Balvantsinh Rajput and PAC; promoter group.
• Transaction type: Acquisition of equity shares.
• Pre-transaction holding: Bhikhiben Balvantsinh Rajput 2,29,51,957 shares (23.185%).
• Pre-transaction PAC: composite 2,43,79,262 shares (24.63%).
• Mode: Open Market; Date: August 26, 2026.
• Acquired: 3,650 voting shares (0.0037%).
• Post-transaction holding: Bhikhiben Balvantsinh Rajput 2,29,55,607 shares (23.1887%).
• PAC post-holding: 2,43,79,262 shares (24.63%).
• Equity capital before/after: Rs 19,79,90,000; 9,89,95,000 shares.
• Total diluted capital: Rs 19,79,90,000; 9,89,95,000 shares.

Transaction details

• Target: Gokul Refoils & Solvent Limited.
• Acquirer and PAC: Bhikhiben Balvantsinh Rajput; PAC: four promoter entities.
• Transaction type: Acquisition of 707 shares.
• Pre-holding: Bhikhiben 2,29,51,250 shares (23.1843%).
• Post-holding: Bhikhiben 2,29,51,957 shares (23.1850%).
• Mode and date: Open Market on August 25, 2026.
• Total equity capital before/after: Rs 19,79,90,000; 9,89,95,000 shares.
• Total diluted capital after: Rs 19,79,90,000; 9,89,95,000 shares.
• Encumbrances: NIL.

Key details

• Target Company: Gokul Refoils & Solvent Limited.
• Disclosing Party: Bhikhiben Balvantsinh Rajput (Acquirer) and PAC; promoter group.
• Transaction Type: Acquisition of equity shares, open market.
• Pre-transaction holding (acquirer): 2,28,71,250 shares (23.1034%).
• Pre-transaction PAC: 2,43,79,262 shares (24.63%).
• Pre-transaction total: 7,29,52,022 shares (73.69%).
• Shares acquired: 80,000 shares (0.0808%).
• Post-transaction acquirer: 2,29,51,250 shares (23.1843%).
• Post-transaction PAC: 2,43,79,262 shares (24.63%).
• Post-transaction total: 7,30,32,022 shares (73.77%).
• Mode: Open Market.
• Date: August 24, 2026.
• Share capital before: Rs 19,79,90,000; 9,89,95,000 shares.
• Share capital after: Rs 19,79,90,000; 9,89,95,000 shares.
• Total diluted capital after: Rs 19,79,90,000; 9,89,95,000 shares.