GFL Limited shareholders approved the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, during the company's 39th Annual General Meeting (AGM). The meeting was held on September 23, 2026, through Video Conferencing (VC) and Other Audio Visual Means (OAVM).

The proceedings commenced at 1:00 pm and concluded at 1:10 pm. Mr. Siddharth Jain served as the Chairman of the meeting. Key attendees included Managing Director Mr. Pavan Kumar Jain, Directors Mrs. Ishita Jain and Mr. Shashi Kishore Jain, Independent Director Ms. Girija Balakrishnan, Independent Director Mr. Sudip Mullick, and Chief Financial Officer Mr. Dhiren Asher.

Resolutions passed

Two ordinary resolutions were proposed for member approval via remote e-voting and e-voting during the AGM. The detailed voting results were declared on September 24, 2026, confirming that both items were passed with the requisite majority.

Voting participation details

The AGM saw participation from 58 shareholders out of a total record date count of 29,841. All participants attended via video conferencing, with no in-person or proxy attendance recorded. The breakdown of attendees by category is as follows:

Meeting logistics and voting

Remote e-voting facilities were active from September 19, 2026, at 9:00 am until September 22, 2026, at 5:00 pm. Members attending the virtual meeting could also cast votes during the session, with the facility remaining open for 15 minutes after the meeting's conclusion. The live webcast was provided through the CDSL e-voting platform.

No questions or comments were raised during the meeting as registered speaker shareholders did not attend. Detailed voting results, along with the Scrutinizer's Report, are scheduled to be displayed on the company website, CDSL website, and stock exchange websites within two working days of the meeting's conclusion.

GFL has scheduled its 39th Annual General Meeting (AGM) for September 23, 2026, to transact ordinary business including the adoption of audited financial statements for FY26.

The holding company, which primarily manages investments in PVR INOX Limited and INOX Infrastructure Limited, reported a standalone profit after tax (PAT) of ₹163.4 lakh for the fiscal year ended March 31, 2026. This marks a recovery from a loss of ₹3,402.7 lakh in the preceding year.

Financial Performance

Revenue from operations rose to ₹368.0 lakh in FY26, up from ₹331.6 lakh in FY25. This growth was driven by an increase in fees and commission income, which climbed to ₹264.6 lakh from ₹224.6 lakh. Net gain on fair value changes contributed ₹103.4 lakh to revenue.

The company's operating profit margin stood at 55.6%, down from 61.5% in the prior year, reflecting higher total expenses which rose to ₹163.6 lakh from ₹128.0 lakh. Employee benefit expenses increased to ₹79.4 lakh from ₹66.1 lakh.

Corporate Developments

The Board approved a Scheme of Merger by Absorption for INOX Infrastructure Limited, a wholly owned subsidiary, into GFL. The merger is subject to statutory approvals and is expected to be effective from April 1, 2026. A joint petition was filed with the National Company Law Tribunal (NCLT), Mumbai Bench, which admitted the petition on June 25, 2026.

Board Changes

Mr. Siddharth Jain retires by rotation at the upcoming AGM and offers himself for re-appointment. During the year, Mr. Pavan Kumar Jain was redesignated as Chairman and Managing Director effective February 12, 2026, following the demise of the erstwhile Chairman, Mr. Devendra Kumar Jain, in December 2025.

What the Numbers Show

The turnaround in profitability was driven by operational performance rather than non-recurring items. In FY25, the loss was significantly impacted by a ₹3,558.1 lakh charge due to the remeasurement of deferred tax liabilities following a change in tax rates. The absence of such a large exceptional tax charge in FY26, combined with stable EBITDA, resulted in the return to profit.