GSPL Transmission 2nd AGM: all 10 resolutions passed on Sep 29, 2026
- GSPL Transmission Limited's 2nd AGM held on September 29, 2026 passed all 10 resolutions with requisite majority
- Total shareholder base on record date (September 22, 2026) stood at 308,246; 100 shareholders attended via video conferencing
- Promoter and promoter group (121793309 shares) voted 100% in favour across all resolutions; overall votes polled ranged from 70.8391% to 71.5988% of outstanding shares
- Key approvals included adoption of FY26 financial statements, dividend declaration, director re-appointments, and multiple material related party transactions with GSPL India Gasnet Limited
- Resolution 5 on statutory auditor remuneration and Resolution 6 on cost auditor remuneration saw the highest dissent, with 35014 and 36948 votes against respectively
*this image is generated using AI for illustrative purposes only.
GSPL Transmission Limited held its 2nd Annual General Meeting on September 29, 2026, where shareholders passed all 10 resolutions through remote e-voting and e-voting during the meeting, with total voter participation of 308,246 shareholders on record as of September 22, 2026.
Meeting overview
The AGM was conducted via Video Conferencing and Other Audio Visual Means, commencing at 4:00 pm and concluding at 4:58 pm. A total of 100 shareholders attended through video conferencing, comprising 1 from the promoter and promoter group and 99 from the public. The remote e-voting window was open from September 25, 2026 at 9:00 am to September 28, 2026 at 5:00 pm. Kiran Kumar Patel of M/s K. K. Patel & Associates (FCS: 6384, CP: 6352) served as the scrutinizer, appointed by the Board on September 1, 2026, and issued the consolidated scrutinizer's report on September 29, 2026.
Resolutions passed
All 10 resolutions — comprising 5 ordinary business items and 5 special business items — were passed with requisite majority. The table below summarises each resolution and its outcome.
| Resolution | Description | Type | Result |
|---|---|---|---|
| 1 | Adoption of audited financial statements (standalone and consolidated) for FY ended March 31, 2026 | Ordinary | Passed |
| 2 | Declaration of dividend on equity shares | Ordinary | Passed |
| 3 | Re-appointment of Dr. T. Natarajan, IAS (DIN: 00396367) as Director retiring by rotation | Ordinary | Passed |
| 4 | Re-appointment of Shri Ashwini Kumar, IAS (DIN: 06581753) as Director retiring by rotation | Ordinary | Passed |
| 5 | Authorise Board to fix remuneration of statutory auditors for FY 2026-27 under Section 142 of the Companies Act, 2013 | Ordinary | Passed |
| 6 | Ratification of remuneration of M/s N. D. Birla & Co. as cost auditors for FY ending March 31, 2027 | Ordinary | Passed |
| 7 | Approval of material related party transaction with GSPL India Gasnet Limited (GIGL) | Ordinary | Passed |
| 8 | Approval of material related party transactions between GIGL and its related parties | Ordinary | Passed |
| 9 | Approval of material related party transaction with GIGL | Ordinary | Passed |
| 10 | Approval of material related party transactions between GIGL and its related parties | Ordinary | Passed |
Voting participation and results
The following table presents the aggregate voting data across all shareholder categories for key resolutions.
| Resolution | Total votes polled | Votes in favour | Votes against | % votes polled on outstanding shares |
|---|---|---|---|---|
| 1 | 223920459 | 223920028 | 431 | 71.5987% |
| 2 | 223920523 | 223920367 | 156 | 71.5988% |
| 3 | 223920459 | 223918329 | 2130 | 71.5987% |
| 4 | 223920459 | 223916007 | 4452 | 71.5987% |
| 5 | 223920409 | 223885395 | 35014 | 71.5987% |
| 6 | 223920459 | 223883511 | 36948 | 71.5987% |
| 7 | 221544868 | 221541690 | 3178 | 70.8391% |
| 8 | 221544918 | 221541257 | 3661 | 70.8391% |
| 9 | 221544918 | 221540975 | 3943 | 70.8391% |
| 10 | 221544918 | 221541101 | 3817 | 70.8391% |
Promoter and institutional participation
The promoter and promoter group, holding 121793309 shares, cast 100% of their votes in favour across all 10 resolutions entirely through e-voting. Public institutional shareholders, holding 56708270 shares, recorded an aggregate participation of 83.8109% of their holdings for resolutions 1 through 6, with all institutional votes cast in favour. Public non-institutional shareholders, holding 134242038 shares, participated at approximately 40.67% for resolutions 1 through 6 and approximately 38.90% for resolutions 7 through 10, with near-unanimous support across all items.
Scrutinizer's findings
Kiran Kumar Patel confirmed in the consolidated scrutinizer's report that all ordinary and special business contained in the 2nd AGM notice were passed with requisite majority. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL). Shareholders holding shares as on the cut-off date of September 22, 2026 were eligible to vote. The report was submitted on September 29, 2026 from Gandhinagar.
Historical Stock Returns for GSPL Transmission
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.00% | -5.00% | -5.00% | -5.00% | -5.00% | -5.00% |
How will the approved material related party transactions with GSPL India Gasnet Limited impact GSPL Transmission's long-term capital expenditure plans and project timelines?
What are the specific dividend payout ratios declared in Resolution 2, and how do they compare to the company's historical trends and peer benchmarks?
Given the high promoter voting support, what strategic shifts in governance or operational oversight can investors expect following the re-appointment of the IAS directors?
17
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
