Gujarat Natural Resources reported a standalone net profit of ₹842.61 lakh for FY26, a significant increase from ₹18.36 lakh in FY25. Consolidated net profit stood at ₹989.31 lakh, reversing a loss of ₹376.03 lakh recorded in the previous year.

The company’s standalone revenue from operations rose to ₹1,147.66 lakh from ₹70.40 lakh in FY25. Consolidated revenue from operations grew to ₹3,052.60 lakh compared to ₹2,004.98 lakh in the prior period. The Board of Directors has decided not to recommend any dividend for FY26.

Corporate Actions and Governance

The company will hold its 35th Annual General Meeting on September 30, 2026, at 3:30 pm via video conferencing. Shareholders will consider several special resolutions, including the sub-division of equity shares where one share of face value ₹10 will be split into ten shares of face value ₹1 each. This action aims to enhance liquidity and widen the shareholder base without altering the total share capital.

Additionally, the Board seeks approval for material related-party transactions with Rhetan TMT Limited, Ashnisha Industries Limited, Lesha Industries Limited, and Ashoka Metcast Limited. Each transaction is capped at ₹150 crore for FY27-28. The meeting will also regularize the appointment of Mrs. Jhanvi Vikas Sethi as a Non-Executive Independent Director.

AGM Logistics and E-Voting Details

The register of members and share transfer books will remain closed from September 24, 2026, to September 30, 2026 (both days inclusive). Remote e-voting will be facilitated by CDSL. The cut-off date for remote e-voting is September 23, 2026.

• E-voting starts on Sunday, September 27, 2026, at 9:00 am IST and ends on Tuesday, September 29, 2026, at 5:00 pm IST.
• Members holding shares as on the cut-off date are entitled to vote.
• The notice of AGM and annual report are available on the company website and CDSL portal.

What the Numbers Show

The surge in standalone net profit was largely driven by other income rather than core operations. Other income contributed ₹540.83 lakh to the total income of ₹1,688.49 lakh, while revenue from operations accounted for ₹1,147.66 lakh. Interest income alone made up ₹414.99 lakh of this other income, indicating that non-operating gains were the primary catalyst for the year's profitability improvement.

Consolidated figures show a similar pattern, with total income rising to ₹4,001.28 lakh from ₹2,283.49 lakh. Expenses increased to ₹2,652.43 lakh from ₹2,724.58 lakh, but the higher income base resulted in the turnaround from loss to profit.

Gujarat Natural Resources will hold its 35th Annual General Meeting on September 30, 2026, to consider a 1:10 sub-division of equity shares and approve material related-party transactions. The meeting will be conducted via video conferencing.

The Board of Directors recommended the share split to enhance liquidity and widen the shareholder base. The proposal involves converting one fully paid-up equity share of face value ₹10 into ten shares of face value ₹1 each. This action will not alter the total authorized or paid-up capital of ₹165 crore and ₹153.4 crore respectively, but will increase the number of shares proportionately.

Share Capital Structure

The following table outlines the impact of the proposed sub-division on the company's share capital:

Related-Party Transactions

Shareholders are also asked to approve ongoing transactions with four related parties for FY28. Each transaction is capped at ₹150 crore. The entities involved are Rhetan TMT Limited, Ashnisha Industries Limited, Lesha Industries Limited, and Ashoka Metcast Limited. These transactions include the sale and purchase of goods, services, and inter-corporate loans.

Promoter Shalin Shah and Director Ashok Shah hold significant stakes in these entities. For instance, Shalin Shah holds a 22.18% stake in Ashoka Metcast Limited and a 16.52% stake in Lesha Industries Limited. The Audit Committee has reviewed these deals, confirming they are on an arm's-length basis.

Board Appointments

The meeting will also regularize the appointment of Mrs. Jhanvi Vikas Sethi as a Non-Executive Independent Director for a five-year term starting August 14, 2026. Additionally, Managing Director Shalin Ashok Shah will retire by rotation and offer himself for re-appointment.