Gujarat alkalies & chemicals Limited has successfully completed the appointment of Shri Sanjay Joshi (DIN: 01656787) as an Independent Director through a postal ballot process conducted via electronic voting. The company announced the results on March 23, 2026, confirming that the special resolution received overwhelming shareholder approval.

Voting Results and Participation

The postal ballot process demonstrated strong shareholder support for the appointment, with comprehensive participation across all investor categories.

A total of 263 members participated in the voting process out of 69,931 shareholders on the record date of February 13, 2026. The company's total outstanding shares stood at 7,34,36,928, with 4,08,16,630 votes polled during the process.

E-Voting Process and Timeline

The electronic voting process was conducted through Central Depository Services (India) Limited (CDSL) platform, providing remote e-voting facility to all eligible shareholders. The voting period commenced on Friday, February 20, 2026, at 9:00 AM IST and concluded on Saturday, March 21, 2026, at 5:00 PM IST, spanning 30 days.

Scrutinizer's Report and Compliance

Suresh Kumar Kabra, Partner at Samdani Shah & Kabra Company Secretaries, served as the appointed scrutinizer for the e-voting process. The scrutinizer was appointed by the Board of Directors on December 25, 2025, and submitted the final report on March 23, 2026.

The scrutinizer's report highlighted a technical issue where Gujarat Industrial Development Corporation (GIDC), one of the promoters, initially cast their vote against the resolution for 18,88,000 shares due to a technical glitch. However, GIDC formally communicated their intention to vote in favor through a letter dated March 7, 2026, which was considered in the final vote count.

Regulatory Compliance and Documentation

The postal ballot process was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, along with the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The voting results and scrutinizer's report have been made available on the company's website at www.gacl.com and CDSL's website at www.evotingindia.com , ensuring transparency and accessibility for all stakeholders. The appointment of Shri Sanjay Joshi as Independent Director is now effective, strengthening the company's board composition with independent oversight.

Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), a promoter entity, has significantly expanded its stake in Gujarat Alkalies & Chemicals through a substantial market transaction on the National Stock Exchange. The acquisition represents a major strategic investment by the promoter group, demonstrating continued confidence in the Gujarat-based chemical manufacturer.

Transaction Details

The share purchase transaction was executed on March 20, 2026, with GNFC acquiring 4,60,340 equity shares at a total value of ₹22.83 crore, inclusive of all charges. The transaction was conducted through the NSE platform using DP ID/Client ID IN300079/11847183, as disclosed in regulatory filings submitted on March 21, 2026.

Updated Shareholding Position

Following this latest acquisition, GNFC's shareholding in Gujarat Alkalies & Chemicals has increased substantially from 20,34,025 shares to 24,94,365 shares. The percentage holding has risen from 2.77% to 3.40% of the total equity capital, marking a significant expansion in the promoter's stake and reinforcing their commitment to the company.

Regulatory Compliance and Documentation

The transaction disclosure was made in strict accordance with Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. Company Secretary Rajesh Pillai of GNFC filed the necessary regulatory documents through Form C with both BSE Limited and National Stock Exchange on March 21, 2026. The comprehensive disclosure includes all required transaction details and compliance undertakings.

GNFC has committed to holding the acquired shares for a minimum period of six months and will preserve all transaction-related documents including broker's contract notes, payment proofs, and bank statements for three years. The promoter entity has also undertaken to approach the compliance officer for approval in case of any urgent need to sell the shares within the mandatory holding period.

Corporate Information

Gujarat Alkalies & Chemicals Limited operates from its registered office and works at Ranoli, Vadodara, with additional facilities at the Dahej Complex in Bharuch district. The company, promoted by the Government of Gujarat, is engaged in the chemical manufacturing sector and maintains its listing on both BSE (scrip code: 530001) and NSE (symbol: GUJALKALI). The company's ISIN code is INE186A01019, and it continues to focus on promoting green technology in its operations.