Gopal Snacks received a show cause notice from the Assistant Commissioner of State Tax, Modasa, regarding GST liabilities for FY22-23. The notice demands a total of ₹4.11 crore, including tax, interest, and penalty.

The company disclosed the receipt on September 21, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice pertains to its facility in Modasa, Gujarat.

Notice Details

The action was initiated under Section 73 of the CGST Act, 2017. The tax authority raised concerns about the availment of Input Tax Credits and reversals under respective rules for the financial year 2022-23. The demand also covers input tax credit reconciliatory aspects.

Company Stance

Gopal Snacks stated there is no material impact on its financials, operations, or other activities due to this intimation. The company expressed confidence in providing necessary documentary submissions and explanatory workings to have the show cause notice dropped.

It committed to updating stock exchanges on any material developments in the matter. The disclosure was signed by Mayur Gangani, Head — Legal & Compliance and Company Secretary.

Gopal Snacks shareholders approved the re-appointment of Bipinbhai Vithalbhai Hadvani as Chairman and Managing Director for a five-year term. The new tenure begins on October 1, 2026, and runs through September 30, 2031.

The resolution was passed at the company’s 17th Annual General Meeting (AGM) held on September 18, 2026. All four resolutions presented to shareholders were approved, including the confirmation of a ₹1.00 per share interim dividend.

Voting Results by Resolution

The AGM saw an overall voter turnout of 87.66% of outstanding shares, with 109,283,550 votes polled out of 124,666,819 shares on record. The promoter group voted in favor of all resolutions, holding 101,535,692 shares.

Institutional Dissent on CMD Reappointment

While promoters and non-institutional public shareholders supported the re-appointment of Mr. Bipinbhai Vithalbhai Hadvani as CMD, institutional holders expressed dissent.

Institutional investors cast 504,053 votes against the resolution, representing 10.48% of their total polled votes (4,807,413). In contrast, non-institutional public shareholders voted overwhelmingly in favor, with only 0.05% dissent. The promoter group provided full support, casting all 101,535,692 shares in favor.

Dividend Confirmation

Shareholders confirmed the payment of three interim dividends declared during FY26, aggregating to ₹1.00 per equity share of face value ₹1.00 each:

• First interim dividend: ₹0.25 per share (declared November 10, 2025)
• Second interim dividend: ₹0.35 per share (declared January 27, 2026)
• Third interim dividend: ₹0.40 per share (declared May 12, 2026)

These payouts were already paid to members prior to the AGM.

Meeting Proceedings

The AGM commenced at 3:00 pm and concluded at 4:30 pm IST via Video Conferencing or Other Audio-Visual Means. Mr. Bipinbhai Vithalbhai Hadvani occupied the chair. A quorum was present throughout, with 54 members attending, including 3 from the promoter group and 51 public shareholders.

Mr. Sanjay Kumar Joshi of S.K. Joshi & Associates served as the scrutinizer for the e-voting process conducted via the NSDL platform. The Statutory Auditor and Secretarial Auditor expressed unqualified opinions in their respective reports for the financial year ended March 31, 2026.