Godavari Biorefineries seeks nod for director re-appointments
Godavari Biorefineries Limited has published a postal ballot notice to seek shareholder approval for the re-appointment of Mr Nitin Mehta as Independent Director and Dr Sangeeta Srivastava as Executive Director. The remote e-voting process is scheduled from May 29 to June 28, 2026. The company also reported a financial turnaround in FY26 with a profit after tax of ₹123.62 lacs compared to a loss in the previous year.
*this image is generated using AI for illustrative purposes only.
Godavari Biorefineries Limited has published its postal ballot notice in newspapers on May 26, 2026, seeking shareholder approval for the re-appointment of two key directors. The company is proposing to re-appoint Mr Nitin Mehta as an Independent Director for a second term of five years and Dr Sangeeta Srivastava as a Whole Time Director, designated as an Executive Director, for a period of three years. The resolutions require approval through special resolutions via remote e-voting.
Voting Schedule and Process
The remote e-voting period begins on May 29, 2026, at 9:00 a.m. IST and concludes on June 28, 2026, at 5:00 p.m. IST. The company has engaged National Securities Depository Limited (NSDL) to facilitate the electronic voting process. Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the Cut-Off Date of May 15, 2026, are eligible to vote. The results of the postal ballot will be announced on or before June 30, 2026.
Director Re-appointments
The Board has recommended the re-appointment of Mr Nitin Mehta (DIN: 09174633) as an Independent Director. His current term ends on June 30, 2026, and the proposed re-appointment is for a term commencing July 1, 2026, to June 30, 2031. The company stated that Mr Mehta meets the criteria for independence and has submitted the necessary declarations and consents.
Additionally, the company seeks approval for the re-appointment of Dr Sangeeta Srivastava (DIN: 00480462) as a Whole Time Director, designated as an Executive Director. Her re-appointment is proposed for a term of three years effective from August 1, 2026. The remuneration package includes a basic salary of ₹ 492,066 per month and a special allowance of ₹ 2,39,696 per month, among other perquisites.
Financial Performance
The explanatory statement accompanying the notice detailed the company's financial performance for the fiscal years 2025-2026 and 2024-2025. The company reported a turnaround in profitability for the year 2025-2026.
| Particulars | 2025-2026 (₹ In Lacs) | 2024-2025 (₹ In Lacs) |
|---|---|---|
| Revenue from Operation | 1,96,492.02 | 185,316.64 |
| Profit Before Tax | 153.22 | (540.29) |
| Profit After Tax | 123.62 | (2,175.95) |
The document noted that the financial year 2025-2026 faced a challenging operational environment due to elevated cane and feedstock costs. However, the company expects improved capacity utilizations in the chemical sector to contribute to gains from the current quarter onwards.
Historical Stock Returns for Godavari Biorefineries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.25% | -14.05% | -14.43% | +15.05% | +6.96% | -18.27% |
How will the re-appointment of the executive director influence the company's strategic roadmap for the next three years?
What measures is the company taking to sustain profitability given the volatility in cane and feedstock costs?
Will the improved capacity utilization in the chemical sector be sufficient to offset future cost pressures?
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