Gujarat state fertilizers & chemicals Limited has announced a significant change in its senior management team with the superannuation of a key executive. The company has informed stock exchanges about this development in compliance with regulatory disclosure requirements.

Senior Management Transition

Mr. R S Erande, who held the position of Senior Vice President and was designated as Senior Management Personnel (SMP), has superannuated from the company's services. His tenure with the company concluded at the close of business hours on March 31st, 2026.

Regulatory Compliance

The company has filed the mandatory disclosure under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This notification was sent to both major stock exchanges where the company's shares are listed.

Stock Exchange Communication

The formal intimation was addressed to:

• BSE Limited: Corporate Relationship Department (Scrip Code: 500690)
• National Stock Exchange: Manager, Listing Department (Symbol: GSFC)

The disclosure follows the requirements of Regulation 30(2) read with Para B of Part A of Schedule III of the SEBI Listing Regulations and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30th, 2026.

Company Secretary's Declaration

The announcement was signed by Nidhi Pillai, Company Secretary & Vice President (Legal), Membership No.: A15142, who digitally authenticated the document on March 31st, 2026. The company has requested both stock exchanges to take note of this senior management change and ensure appropriate dissemination to market participants.

Gujarat State Fertilizers & Chemicals Limited has successfully completed its postal ballot process for three critical director appointments, with shareholders demonstrating overwhelming support across all resolutions. The remote e-voting period concluded on March 22, 2026, marking a significant milestone in the company's governance structure.

Voting Results Overview

The postal ballot addressed three key appointments, all requiring ordinary resolutions. The voting process was conducted exclusively through remote e-voting via CDSL's platform, with the cut-off date set as February 13, 2026.

Key Appointments Approved

Shareholders approved the appointment of Dr. Rajender Kumar, IAS (DIN: 07161855) in dual roles - first as a Director of the Company and subsequently as Managing Director. The resolutions received strong support with approval rates of 93.40% and 93.92% respectively.

Additionally, the appointment of Mr. Ashwani Kumar, IAS (DIN: 06581753) as Director received exceptional support, with 99.40% of votes cast in favour of the resolution.

Board Approves UPSI Code Amendment

Following the director appointments, the Board of Directors approved amendments to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information on March 24, 2026. The amendments align the code with recent changes in SEBI (Prohibition of Insider Trading) Regulations, 2015.

The updated code establishes comprehensive principles for fair disclosure of events that could impact price discovery, determination of legitimate purposes for UPSI sharing, and enhanced compliance frameworks. Key provisions include prompt disclosure requirements, uniform dissemination protocols, and strict need-to-know basis handling of sensitive information.

Voting Participation Analysis

The voting process demonstrated significant participation across different shareholder categories:

The Promoter and Promoter Group category showed complete participation with 100% voting, while Public Institutions demonstrated strong engagement at 89.23% participation.

Regulatory Compliance

The postal ballot process was conducted in strict compliance with regulatory requirements under Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. Mr. Niraj Trivedi (FCS No.: 3844, COP: 3123), appointed as Scrutinizer, oversaw the entire process to ensure transparency and fairness.

The company has fulfilled its disclosure obligations by submitting results to BSE Limited (Scrip Code: 500690) and National Stock Exchange of India Ltd. Both the voting results and the amended UPSI code are available on the company's website, ensuring transparency for all stakeholders.