Gujarat Industries Power Company published the voting results for its 41st annual general meeting held on September 19, 2026. The company reported a 69.78% voting participation rate across all active resolutions, with shareholders holding 155,215,944 shares on the record date of September 11, 2026.

The Chairperson, Dr. Jayanti S. Ravi, IAS, opened the proceedings after confirming the requisite quorum was present through virtual attendance. The Company Secretary informed members that the statutory auditor’s report on the financial statements carried no qualifications, indicating adherence to robust accounting standards. Similarly, the secretarial audit report contained no adverse remarks.

Voting Participation and Results

Remote e-voting commenced on September 16, 2026, and concluded on September 18, 2026. During the AGM, which lasted from 11:30 am to 12:36 pm, only four members cast their votes electronically at the meeting, while 200 folios participated via remote e-voting. A total of 62 shareholders attended via video conferencing (two promoters and 60 public shareholders).

Promoter and promoter group shareholders voted in favor of all active resolutions with 100% support. Public institutional investors showed strong support, with over 83% of their outstanding shares polled for the financial statements and dividend resolutions. Non-institutional public shareholders had a lower polling rate of approximately 16.47%, though dissent remained negligible across all passed items.

Resolutions Passed

Members approved several ordinary business resolutions during the meeting. Key outcomes included:

• Adoption of audited financial statements for FY26 along with reports from the Board of Directors and auditors.
• Declaration of dividend on equity shares for the financial year 2025-26.
• Reappointment of Shri Sanjay S. Bhatt as a director, replacing his term retiring by rotation.
• Ratification of remuneration payable to cost auditors for the financial year 2026-27.

One proposed resolution regarding the reappointment of Shri Kanyo Sadhuram Badlani was dropped. The Company Secretary stated this resolution became infructuous as Shri Badlani ceased to be a nominee director effective August 31, 2026, following the withdrawal of nomination by Gujarat State Fertilizers & Chemicals Limited. Consequently, no votes were polled for this item.

Governance and Compliance

The meeting featured attendance from ten directors, including independent directors chairing various committees such as Audit, Nomination & Remuneration, and Risk Management. Statutory auditors M/s. K C Mehta Co. & LLP and secretarial auditors M/s. TNT & Associates were present. CS Shailja Pandya served as the independent scrutinizer for the e-voting process.

Voting continued during the AGM until 15 minutes after its conclusion. Results were declared upon receipt of the scrutinizer’s report and filed with BSE Limited and National Stock Exchange of India Limited.

Gujarat Industries Power Company appointed Dr. Rajender Kumar as an additional director on September 19, 2026. The board approved the nomination during its 343rd meeting held in Vadodara.

The appointment was recommended by the Nomination and Remuneration Committee. Dr. Kumar serves as the nominee of Gujarat State Fertilizers & Chemicals Limited (GSFC). He currently holds the position of Managing Director at GSFC.

Board Approval Details

The board meeting commenced at 1:00 pm and concluded at 2:15 pm. The company confirmed that Dr. Kumar is not related to any existing directors. He is also not debarred from holding office by SEBI or any other authority.

The disclosure complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It aligns with SEBI circular SEBI/HO/CFD/CFD-PoD2/CIR/P/0155 dated November 11, 2024.

Director Profile

Dr. Kumar is a 2004-batch Indian Administrative Service officer from the Gujarat cadre. He holds a B.A.M.S. degree in Ayurvedic medicine. His career spans public administration, policy formulation, and development economics.

He served as District Development Officer for Bharuch and Ahmedabad districts. He later acted as Collector and District Magistrate for Rajkot and Surat. His roles focused on public service delivery, education, health outcomes, and disaster management.

From 2016 to 2021, he worked in the Prime Minister’s Office. As Director to the Prime Minister, he contributed to flagship schemes including Swachh Bharat Mission, AMRUT Mission, Smart Cities Mission, and Ayushman Bharat. He played a key role in formulating the National Education Policy 2020.

During the pandemic, he coordinated health sector responses across ministries and states. He convened national empowered groups for medical management and logistics. He helped shape India’s vaccine strategy and the Vaccine Maitri global outreach program.

Between 2021 and 2024, he served as an Advisor to the Executive Director for India at the World Bank. He represented India at global forums including the G-24, GEF Council, and IDA Mid-Term Review.

In July 2024, he became Secretary to the Government of Gujarat, heading Tourism, Civil Aviation, and the Pavitra Yatradham Vikas Board. Since January 2026, he has been posted as Commissioner of Transport and holds charge of MD at GSFC.