GFL seeks nod for director re-appointment

GFL Limited has initiated a postal ballot process seeking shareholder approval for the re-appointment of Mr. Shashi Kishore Jain as a Non-Executive Independent Director for a second consecutive term of five years. The proposed tenure is effective from May 30, 2026, to May 29, 2031. The resolution requires a special resolution as the director has attained the age of 75 years, necessitating compliance with Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors, at its meeting held on May 29, 2026, approved the proposal based on the recommendation of the Nomination and Remuneration Committee. Mr. Shashi Kishore Jain (DIN: 00443861) currently serves as an Independent Director, with his first term expiring on May 29, 2026. The Board has stated that his rich and diverse experience is a valuable asset to the Company.

Postal Ballot and E-Voting Schedule

The Company has engaged Central Depository Services (India) Limited (CDSL) to provide the e-voting facility. Mr. Dhruvil M. Shah, Partner of Dhruvil M. Shah & Co. LLP, has been appointed as the Scrutinizer to conduct the process. The key dates for the postal ballot process are outlined below:

Sr. No.	Particulars	Date of Event
1)	Cut-off date for determining shareholders	03/07/2026
2)	Date of completion of dispatch of notice	06/07/2026
3)	E-Voting Starting Date	07/07/2026
4)	E-Voting ending date	05/08/2026
5)	Date of intimation of result	07/08/2026

Shareholders can cast their votes remotely from 09.00 a.m. on July 7, 2026, until 05.00 p.m. on August 5, 2026. The voting rights are determined in proportion to a member's shareholding as on the cut-off date of July 3, 2026. The results will be announced within 48 hours of the conclusion of e-voting and communicated to the stock exchanges.

Director Profile and Disclosures

Mr. Shashi Kishore Jain brings over 50 years of work experience, including roles in plant development and the industrial gases sector. He holds a Degree in Electrical Engineering from Delhi College of Engineering. During the financial year, he attended 5 out of 5 Board meetings. His remuneration for the last period was ₹1.40 lakhs. He does not hold any shares in GFL Limited and is not related to any other Directors on the Board.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.88%	-0.41%	+2.30%	-18.46%	-29.06%	-32.94%

GFL Limited reported a consolidated net profit of ₹4,502 lakh for the financial year ended March 31, 2026, reversing the net loss of ₹7,559 lakh recorded in the previous year. The turnaround was primarily driven by a share of profit from associates, which totaled ₹5,073 lakh for the year compared to a loss of ₹5,051 lakh in FY25. On a standalone basis, the company recorded a net profit of ₹163 lakh, recovering from a net loss of ₹3,403 lakh in the prior year, aided by a lower tax expense.

The Board of Directors, at its meeting held on May 29, 2026, approved the audited standalone and consolidated financial results. M/s. Patankar & Associates, Chartered Accountants, issued an audit report with an unmodified opinion on the results. The Board also approved the re-appointment of M/s. Shanti Prashad & Co. as Internal Auditors for the financial year 2026-27.

Consolidated Financial Performance

For the quarter ended March 31, 2026, the company reported a consolidated net profit of ₹2,556 lakh, a significant increase from the net loss of ₹1,829 lakh in the corresponding quarter of the previous year. Total revenue from operations for the quarter rose to ₹89 lakh from ₹84 lakh in the prior year quarter. The share of profit from associates for the quarter was ₹2,964 lakh, compared to a loss of ₹2,172 lakh in the same period last year.

Metric	Year Ended 31-03-2026 (₹ in Lakhs)	Year Ended 31-03-2025 (₹ in Lakhs)
Total Revenue from Operations	368	332
Total Expenses	195	155
Share of Profit/(Loss) of Associate	5,073	(5,051)
Profit Before Tax	5,275	(4,841)
Net Profit/(Loss) for the Year	4,502	(7,559)

Standalone Financial Results

On a standalone basis, GFL recorded a net profit of ₹163 lakh for FY26, recovering from a net loss of ₹3,403 lakh in the previous year. The recovery was aided by a lower tax expense of ₹41 lakh compared to ₹3,607 lakh in the prior year, which included a one-time deferred tax liability remeasurement charge of ₹3,558 lakh due to changes in tax rates. Total revenue from operations for the year increased to ₹368 lakh from ₹332 lakh in FY25.

Board Approvals and Corporate Governance

The Board approved the reappointment of Mr. Shashi Kishore Jain as a Non-Executive Independent Director for a second consecutive term of five years, effective from May 30, 2026, subject to shareholder approval. A notice of postal ballot was approved to seek shareholder consent for this appointment. Additionally, the Board approved the Scheme of Merger by Absorption for amalgamating INOX Infrastructure Limited, a wholly-owned subsidiary, with the company, effective from April 1, 2026, subject to regulatory approvals.