Gujarat Industries Power Company Ltd (GIPCL) has announced key dates and details for its upcoming 40th Annual General Meeting (AGM) and dividend distribution. The company's Board of Directors has recommended a dividend of Rs. 4.09 per share, subject to shareholder approval at the AGM.

AGM and Dividend Details

The 40th AGM is scheduled for September 20, at 1:00 PM, and will be conducted through video conferencing. The company has set the book closure dates from September 13 to September 20 for determining shareholder eligibility for the dividend.

Key Agenda Items

The AGM will address several important matters, including:

1. Adoption of audited financial statements
2. Declaration of dividend
3. Appointment of directors
4. Appointment of statutory and secretarial auditors

Director Appointments and Re-appointments

Notable appointments include:

• Dr. Jayanti S. Ravi, IAS, as Additional Director and Chairperson
• Re-appointment of Shri Jai Prakash Shivahare, IAS, and Shri Kanyo Sadhuram Badlani as directors

Auditor Appointments

The company proposes to appoint:

• K C Mehta & Co. LLP as statutory auditors for a five-year term
• TNT & Associates as secretarial auditors for a five-year term

E-voting Information

GIPCL has arranged for remote e-voting facilities for shareholders:

• E-voting period: September 17-19
• Cut-off date for e-voting eligibility: September 12

Cost Auditor Remuneration

The company seeks shareholder ratification for the remuneration of Rs. 1.55 lakh to be paid to Dalwadi and Associates, the appointed cost auditors.

This AGM marks significant corporate actions for Gujarat Industries Power Company, including the proposed dividend payout and key appointments, reflecting the company's commitment to shareholder value and corporate governance.

Gujarat Industries Power Company Limited (GIPCL), a prominent player in the power generation sector, has announced its standalone unaudited financial results for the first quarter, showcasing impressive growth and performance.

Financial Highlights

GIPCL reported stellar financial results for Q1:

Remarkable Growth

The company demonstrated substantial growth compared to the same quarter of the previous year:

• Net Profit Before Tax surged from ₹1,620.61 lakhs to ₹7,932.45 lakhs, marking a remarkable increase of nearly 390%.
• Total Income from Operations rose from ₹34,184.81 lakhs to ₹39,061.40 lakhs, indicating a healthy growth in the company's operational performance.

Operational Overview

GIPCL, known for its thermal and lignite-based power plants in Vadodara and Surat, continues to strengthen its position in the power generation sector. The company's robust performance reflects its operational efficiency and strategic management.

Board Approval and Disclosure

The unaudited financial results were reviewed and recommended by the Audit Committee in its meeting held on August 11, and subsequently approved by the Board of Directors on August 12. In compliance with regulatory requirements, GIPCL published the results in newspapers on August 14, including Financial Express (All India Edition) and Loksatta Jansatta (Vadodara Edition).

Investor Information

GIPCL has made the detailed unaudited financial results available on its official website ( www.gipcl.com ) and on the websites of BSE and NSE. The company has also designated an exclusive email ID, investors@gipcl.com , for addressing investor grievances, demonstrating its commitment to shareholder communication and transparency.

As GIPCL continues to deliver strong financial results, it reinforces its position as a key player in India's power generation sector.