Gujarat Narmada Valley Fertilizers & Chemicals Limited held its 50th Annual General Meeting on September 16, 2026. Shareholders approved a final dividend of ₹21 per equity share for FY26.

The meeting was conducted via video conferencing with the deemed venue at the company’s registered office in Bharuch, Gujarat. Chairman Manoj Kumar Das presided over the proceedings, which concluded at 4:05 pm.

Key Resolutions

Members approved several ordinary and special resolutions during the AGM:

• Adoption of audited standalone and consolidated financial statements for FY26
• Declaration of final dividend of ₹21 per share of face value ₹10 each
• Reappointment of Dr. T. Natarajan as director retiring by rotation
• Appointment of M/s. B S R and Co as statutory auditors
• Appointment of Prof. (Dr.) Mamata Biswal as independent director
• Ratification of remuneration for cost auditor M/s. K G Goyal & Associates

Management Changes

Shri Sanjeev Kumar assumed additional charge of Managing Director effective September 9, 2026, following the transfer of Shri Rajkumar Beniwal. This appointment was made pursuant to a notification from the Government of Gujarat dated September 5, 2026.

The Board will seek member approval for Sanjeev Kumar’s formal appointment as Managing Director in due course, subject to recommendations from the Nomination and Remuneration Committee.

Audit and Governance

Statutory auditors M/s. Suresh Surana & Associates LLP issued unmodified reports on the financial statements for FY26. The secretarial audit report for 2025-26 also contained no qualifications or adverse remarks.

E-voting was facilitated through KFin Technologies Limited, with CS J. J. Gandhi serving as scrutinizer. Voting results will be announced within two working days of the meeting conclusion.

Gujarat Narmada Valley Fert & Chem has appointed Sanjeev Kumar, IAS, as Managing Director and Key Managerial Personnel with effect from September 9, 2026. The Board approved the appointment on September 16, following a recommendation from the Nomination and Remuneration Committee.

The resolution confirms the additional charge assigned by the Gujarat Government via Notification No. AIS/35.2026/37/Ser(I) dated September 5, 2026. Kumar replaces Rajkumar Beniwal, who resigned on September 9, 2026.

Board Approval and Tenure

The Board meeting held on September 16, 2026, commenced at 4:25 pm and concluded at 4:40 pm. It transacted the appointment business, noting the government notification appointing Kumar as a Government Director under Article 136 of the Articles of Association.

Kumar is designated as Key Managerial Personnel under Section 2(51) read with Section 203 of the Companies Act, 2013. His tenure continues until further orders of the Gujarat Government, subject to a maximum period of five years from the date of assumption of charge. This appointment is also subject to approval by members of the company.

Leadership Transition Details

Rajkumar Beniwal (DIN: 07195658) ceased to be the Managing Director and a Director with effect from September 9, 2026. This cessation followed his relinquishment of charge pursuant to the government notification and his resignation dated September 9, 2026.

Sanjeev Kumar (DIN: 03600655) assumed charge immediately upon Beniwal’s departure. Kumar is not debarred from holding office as a Director by virtue of any SEBI order or authority.

Profile of New Managing Director

Sanjeev Kumar is a 1998-batch IAS officer from the Gujarat cadre. He currently serves as Principal Secretary to the Chief Minister of Gujarat. He holds a B.Tech (Hons.) from IIT Kharagpur and an MPA from the Hubert H. Humphrey School of Public Affairs, University of Minnesota, USA.

With over 28 years of experience in public administration, Kumar has served in sectors including finance, energy, petrochemicals, and environmental governance. He has held roles in Panchayats, Rural Development, Finance, General Administration, Commercial Taxes, Energy & Petrochemicals, Forest & Environment, Climate Change, Urban Development, and Urban Housing. He has also worked with listed state PSUs.

Regulatory Compliance

The intimation was filed under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on September 16, 2026, superseding earlier intimations dated September 6, 2026, and September 9, 2026.

Rajesh Pillai, Company Secretary & Compliance Officer, signed the communication addressed to BSE Limited and National Stock Exchange of India Limited.