Gujarat State Financial Corporation reported a net loss of ₹127.29 crore for the financial year ended March 31, 2026, an increase of 1.56% compared to the previous year's loss of ₹125.34 crore. Total income for the year declined to ₹16.44 crore from ₹17.25 crore in FY25, primarily due to a decrease in other income. The corporation's accumulated losses stood at ₹3,552.45 crore as of March 31, 2026, with its net worth completely eroded.

The board has scheduled the 66th Annual General Meeting for July 30, 2026, at 1.00 p.m. IST at its Head Office in Gandhinagar. Shareholders will consider the adoption of audited financial statements for FY26 and the appointment of M/s. J.H. Mehta & Co., Chartered Accountants, as the new statutory auditors. The appointment is proposed for a term of one year, subject to RBI eligibility, with a remuneration of ₹90,000 plus GST and out-of-pocket expenses.

Financial Performance

Interest income for the year stood at ₹14.32 lakh, while interest on deposits was ₹1,615.49 lakh. Total expenditure increased marginally to ₹143.73 crore, driven by interest on borrowings which rose to ₹141.20 crore. The corporation continues to focus solely on recovery of dues, having recovered ₹0.83 crore during the year against ₹2.12 crore in the previous year.

Meeting Details

Remote e-voting will be facilitated by Central Depository Services (India) Ltd (CDSL) from July 27, 2026, at 9.00 a.m. until July 29, 2026, at 5.00 p.m. The book closure will be in effect from July 28, 2026, to July 30, 2026. The record date for determining shareholder eligibility is January 30, 2026.

Gujarat State Financial Corp has appointed Mrs Mayaben M Dabhi as a Director on its Board, effective June 20, 2026. The appointment follows a nomination by the Government in Finance Department, approved via letter No. FD/0050/06/2026 on June 04, 2026. Dabhi replaces Smt Ankitaben R Christian, who ceased to be a Director effective June 19, 2026.

The change was communicated to BSE Ltd pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. Dabhi assumed office on June 20, 2026, after completing pre-joining formalities. The corporation confirmed that she is not debarred from holding the office of Director by the Securities and Exchange Board of India.

Profile of the New Director

Mrs Mayaben M Dabhi, aged 52, holds a B.Sc degree from Gujarat University. She began her career with the Government of Gujarat as a Scientific Assistant at the Forensic Science Laboratory in 2000. She has since held positions including Section Officer, Under Secretary, and Deputy Secretary.

Prior to this appointment, Dabhi served as Financial Advisor (Home, IMD, R&B) in the General Administration Department. She possesses 26 years of experience across various government departments and is a nominee director on two other companies.

Committee Appointments

Upon assuming office, Dabhi was designated as a Member of the Audit Committee and Chairperson of the Stakeholders Relationship Committee of the corporation. She is not related to any Director or Key Managerial Personnel of the corporation and does not hold any securities of Gujarat State Financial Corporation.