Gujarat State Fertilizers & Chemicals Ltd. announced that Mr. S. V. Varma, Executive Director (Agri Business, HR & IR), has resigned from his services effective from the close of business hours on April 28, 2026. Mr. Varma, who was designated as a Senior Management Personnel (SMP), is departing to accept the position of Managing Director at Indian Potash Limited after more than 35 years of service with the company.

The company disclosed this information in compliance with Regulation 30 read with Schedule III, Part A, Para A (7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to the exchanges via a letter dated June 02, 2026, referencing the initial announcement made on April 28, 2026. The company attributed the delay in submitting the resignation letter within seven days from the effective date of resignation to an inadvertent oversight.

Reason for Resignation

Mr. Varma resigned to pursue opportunities outside the organization, specifically to take on the role of Managing Director at Indian Potash Limited. In his resignation letter, he expressed gratitude for the professional growth opportunities provided during his tenure, which began in 1990 as an Engineer Trainee. He previously declined an offer to become Managing Director of HURL in 2023 to continue his service with GSFC.

Management Change Details

The following table summarizes the key details regarding the change in management as per the company's disclosure:

Gujarat State Fertilizers & Chemicals Ltd has launched the Second 100 Days Campaign, titled 'Saksham Niveshak', to facilitate the recovery of unpaid and unclaimed dividends for its shareholders. Scheduled from April 1, 2026, to July 9, 2026, the initiative follows a directive from the Investor's Education and Protection Fund Authority (IEPFA), Ministry of Corporate Affairs. The primary objective is to enable shareholders to update their details and claim pending dividends before the funds are transferred to the IEPF.

The campaign emphasizes the importance of updating specific information to ensure dividend payments are processed electronically. Shareholders must ensure their Permanent Account Number (PAN), nomination details, contact information, bank account details, and specimen signatures are current with the company or its Registrar & Transfer Agent, MUFG Intime India Private Limited. Dividends will be credited only after these details are updated.

To facilitate this process, the company has outlined the necessary documentation required for claims. Shareholders holding shares in physical form must submit specific forms to the Registrar & Transfer Agent. The required documents include Form ISR-1, which must be duly filled, signed, and accompanied by self-attested KYC documents. Additionally, Form ISR-2 is required, filled and signed with a banker's attestation of the signature along with an original cancelled cheque or a self-attested bank passbook or statement.

Shareholders wishing to add a nominee must submit Form SH-13, while those opting out of nomination need to file Form ISR-3. These forms are available for download on the company's official website. Physical copies of the completed forms should be delivered to MUFG Intime India Private Limited at Geetakunj, 1, Bhaktinagar Society, Behind ABS Tower, Old Padra Road, Vadodara – 390015.

For shareholders holding shares in electronic form, the process involves updating or modifying details directly with their respective depository participants. The company has urged all eligible shareholders to act promptly and submit the necessary documents before the campaign concludes on July 9, 2026, to avoid forfeiture of their unclaimed dividends.