Gujarat Energy Limited declared a dividend of ₹8.90 per equity share for the financial year ended March 31, 2026. The payout was approved during the company's 14th Annual General Meeting held on September 29, 2026.

The total dividend amount aggregates to ₹835 crore (₹835,02,54,556.10), distributed across 93,82,30,849 equity shares with a face value of ₹2 each. This decision marks a significant return to shareholders for the fiscal year.

Voting Results and Resolution Status

The company has disclosed the detailed voting results from the AGM, confirming that all five resolutions set forth in the notice were passed with the requisite majority. The scrutinizer's report, issued by Kiran Kumar Patel of M/s K. K. Patel & Associates, validated the votes cast through remote e-voting and e-voting during the meeting.

Key voting outcomes include:

• Adoption of Financial Statements: Passed with 99.98% votes in favour.
• Dividend Declaration: Passed with 99.99% votes in favour.
• Re-appointment of Director: Dr. T. Natarajan, IAS, was re-appointed with 92.12% votes in favour.
• Auditor Remuneration: Authorization for statutory auditor remuneration passed with 93.27% votes in favour.
• Cost Auditor Ratification: Ratification of cost auditor remuneration passed with 99.99% votes in favour.

Key Resolutions Passed

Shareholders adopted several key resolutions during the virtual meeting chaired by Managing Director Avantika Singh Aulakh. The agenda included financial approvals and governance updates.

• Adoption of audited standalone and consolidated financial statements for FY26.
• Re-appointment of Dr. T. Natarajan, IAS, as Director liable to retire by rotation.
• Authorization for the Board to fix statutory auditor remuneration for FY27.
• Ratification of cost auditor remuneration of ₹1.40 lakh for FY27.

Governance and Leadership Updates

The meeting proceeded via video conferencing and other audio-visual means, in compliance with regulatory circulars. M K Das, IAS, Chairman, could not attend due to unavoidable circumstances, leading to Avantika Singh Aulakh chairing the session. Dr. T. Natarajan, IAS, was re-appointed after retiring by rotation and offering himself for re-election, ensuring continuity in board leadership.

Financial Payout Details

The dividend declaration represents a substantial cash outflow for the company. The specific breakdown of the payout is detailed below:

Meeting Proceedings

The Annual General Meeting commenced at 3:00 pm and concluded at 3:56 pm. A quorum required under the Companies Act, 2013, was present throughout the session. K K Patel & Associates were appointed as scrutinizers to oversee the e-voting process, which remained open for 15 minutes following the conclusion of the meeting to allow members to cast their votes.

Gujarat Energy Limited confirmed that 31.27 crore equity shares of its subsidiary, GSPL Transmission Limited, will be listed and admitted for trading on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) effective September 30, 2026. The listing follows the final approval received from both exchanges on September 28, 2026.

This development is part of the Composite Scheme of Amalgamation and Arrangement involving Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, Gujarat Energy Limited (formerly Gujarat Gas Limited), and GSPL Transmission Limited. The scheme, approved by the Ministry of Corporate Affairs in April 2026, resulted in the demerger of the Gas Transmission Business Undertaking from Gujarat Energy into GSPL Transmission.

Listing Details and Trading Mechanics

The shares allotted to existing shareholders are fully paid-up equity shares with a face value of ₹10 each. Upon listing, GSPL Transmission will trade under the symbol GSPLTRANS on both exchanges. The security will initially be placed in the Trade-for-Trade segment for 10 trading days before moving to the regular equity segment, subject to regulatory compliance.

Scheme Implementation Timeline

The allotment of shares was executed pursuant to the scheme where every three fully paid-up equity shares of Gujarat Energy (face value ₹2 each) held by shareholders as on the record date were exchanged for one fully paid-up equity share of GSPL Transmission (face value ₹10 each). The record date for this entitlement was July 2, 2026, with the date of allotment falling on July 8, 2026.

Prior to the scheme, GSPL Transmission had a paid-up capital of ₹5 lakh consisting of 50,000 shares. This capital was cancelled, and the new issued, subscribed, and paid-up equity capital stands at ₹312.74 crore following the arrangement.

What the Numbers Show

The listing creates a distinct market entity for the gas transmission assets previously housed within Gujarat Energy. With a paid-up capital of ₹312.74 crore post-arrangement, GSPL Transmission enters the public market with a substantial equity base. The conversion ratio of 1:3 implies that the market valuation of the demerged entity will directly impact the effective value of holdings for existing Gujarat Energy shareholders, separating the transmission business's performance from the broader energy portfolio.