Gujarat Industries Power Company Ltd

Gujarat Industries Power Company Ltd trading window closes for designated persons and their immediate relatives from 1 October 2026.

AGM details

• Date, time, and mode: 19 Sep 2026, 11:30 AM to 12:36 PM, via VC/OAVM.
• Venue: Registered Office; participation via VC/OAVM.
• Record date: 11 Sep 2026.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt Audited Financial Statements and reports; ordinary resolution, passed.
• Resolution 2 (Ordinary): Declare dividend on equity shares; ordinary, passed.
• Resolution 3: Appointment of Kanyo Sadhuram Badlani; dropped as infructuous.
• Resolution 4 (Ordinary): Appoint Sanjay S. Bhatt; passed.
• Resolution 5 (Ordinary): Ratify remuneration of Cost Auditors for 2026-27; passed.

Director changes

• Kanyo Sadhuram Badlani ceased from GSFC board; agenda dropped.
• Sanjay S. Bhatt re-appointed; terms not specified.

Auditors

• Cost Auditor remuneration for FY 2026-27 ratified.

AGM Details

• 41st AGM held on 19 Sep 2026 at 11:30 am via Video Conference/OAVM.
• Concluded at 12:36 pm.
• Remote e-voting: 16–18 Sep; voting extended 15 minutes after conclusion.

Resolutions

• Ordinary: Adopt Audited Financial Statements and Directors’ and Auditors’ reports.
• Ordinary: Declare dividend on equity shares for FY 2025-26.
• Kanyo Sadhuram Badlani appointment dropped; nomination withdrawn.
• Ordinary: Appointment of Sanjay S Bhatt for re-appointment.
• Special/Ordinary: Ratify remuneration payable to Cost Auditors for 2026-27.

Director Changes

• Kanyo Sadhuram Badlani ceased from Board w.e.f. 31 Aug 2026.
• Sanjay S Bhatt to be re-appointed (per Item 4).

Audit & Reports

• Statutory Audit: no qualifications reported.
• Secretarial Audit: no adverse qualifications reported.

AGM Details

• AGM scheduled for 19 September 2026 at 11:30 AM via VC/OAVM.

Resolutions to be Placed

• Resolutions 1, 2, 4 and 5 to be placed for consideration.
• Resolution 3 dropped; director ceased from the Board as of 31/08/2026.

Director Changes

• Shri Kanyo Sadhuram Badlani ceased from the Board with effect 31/08/2026.

AGM and compliance update

• 41st AGM scheduled for 19 September 2026 at 11:30 IST via VC/OAVM.
• Annual Report for FY 2025-26 online; path: Investors > Financial Information > Annual Reports.
• Cut-off date for sending link to unregistered emails: 21 August 2026.
• Update KYC details and dematerialise physical securities per SEBI circular HO/38/13/(4)2026.
• Mandatory updation fields for physical folios: PAN, address with PIN, mobile, bank details, signature, nomination.
• Email update is optional but encouraged; queries to investor relations.
• SEBI circular requires electronic payments to physical folios lacking updates from April 1, 2024.

Director cessation (GSFC nominee)

• Kanya Sadhuram Badlani, Sr. VP (Projects), GSFC, ceased as GIPCL Director; nomination withdrawal effective 31 August 2026.
• Rajender Kumar, IAS, MD of GSFC, named replacement Director on GIPCL board.

Financial performance

• Revenue from Operations for FY2025-26: 1,49,112 Lakhs.
• Total Income: 1,58,623.11 Lakhs.
• EBITDA (PBIT + D&A): 52,217 Lakhs.
• Profit before Tax: 24,466.53 Lakhs.
• Net Profit: 40,240.72 Lakhs.
• EPS: 25.93; Net Worth: 384,023.53 Lakhs.
• Debt to Equity: 87.95%; CWIP: 206,572.14 Lakhs.
• Dividend: 4.10 per share; total payout 6,363.85 Lakhs.
• Cash flow: CFO 64,899.84 Lakhs; CFI (223,804.85); CFF 138,116.00 Lakhs.

Operations and capacity

• Installed capacity total: 1859.4 MW; Non-renewable 810 MW; Renewable 1049.4 MW.
• Total renewable capacity aggregated under Khavda RE Park: 600 MW solar, plus 75 MW Vastan solar.
• SLPP Phase I (2x125 MW): 1546.682 MU; PLF 70.62%; Availability 85.96%.
• SLPP Phase II (2x125 MW): 1638.914 MU; PLF 74.84%; Availability 87.19%.
• 4 MW Wind capacity; Wind generation 189.62 MU at CUF 19.62%.
• New 600 MW Khavda RE Park solar achieved COD; 25-year PPA with GUVNL.

Strategic capital deployment

• CWIP increased to 206,572.14 Lakhs; significant capex for Khavda RE Park and Vastan projects.
• Gross Block expanded due to Khavda and Vastan solar scale-up; depreciation aligned with asset lives.
• Total equity at 31 Mar 2026: 15,521.60 Lakhs; reserves and surplus supported growth.

Dividends and AGM

• Final dividend of 4.10 per share proposed; record date 11 Sep 2026.
• 41st AGM scheduled 19 Sep 2026; through VC/OAVM.
• Remote e-voting window: 16-18 Sep 2026; e-voting via CDSL platform.

Governance and risk management

• Board comprises 13 Directors; 8 Independent, 5 Non-Independent; MD is executive.
• Independent Directors Susanta Kumar Roy and Suchita Gupta appointed; Sanjay S. Bhatt appointed as Director (Feb 2026).
• Jenu Devan and Jayanti S. Ravi joined as directors in 2026; multiple governance changes during year.
• Risk Management Committee reconstituted; Susanta Kumar Roy appointed as Chairman.
• Audit Committee, SRC, NR, CSR and Risk committees in place; six Board meetings held in 2025-26.

CSR and sustainability

• CSR outlay: 526.01 Lakhs; average net profit baseline CSR obligation: 525.94 Lakhs.
• CSR focus: Health, Education, Women Empowerment, Village Infrastructure; Annexures A and A-II.
• CSR expenditure covered via SVADES, DEEP, Life Line Foundation, Gujarat CSR Authority, etc.
• CSR policy, governance and impact reporting available on Gipcl website.

Audit, compliance and ESG disclosures

• Statutory Auditors: M/s K C Mehta & Co. LLP; Internal Auditors: Parikh Mehta & Associates.
• Secretarial Auditor: TNT & Associates; no qualifications reported.
• CARE Ratings: AA-; A1+; long/short-term facilities; outlook Stable.
• CEO/CFO certificate and Corporate Governance compliance disclosures attached.