Gujarat Pipavav Port Limited (GPPL) successfully concluded its 33rd Annual General Meeting (AGM) on September 4, 2025, marking a significant milestone for the company. The meeting, conducted via video conferencing, saw the participation of 42 shareholders representing 44.01% of the company's capital.

Dividend Declaration

One of the key highlights of the AGM was the approval of dividend payments. Shareholders gave their nod to a final dividend of Rs. 4.20 per equity share, in addition to ratifying an interim dividend of Rs. 4.00 per equity share that had already been paid out. This total dividend of Rs. 8.20 per share for the financial year ended March 31, 2025, underscores the company's commitment to delivering value to its shareholders.

Key Appointments and Re-appointments

The AGM saw several important appointments and re-appointments:

1. Director Re-appointments: Mr. Jonathan Richard Goldner (DIN: 09311803) and Mr. Steven Deloor (DIN: 10337166) were re-appointed as directors after retiring by rotation.

2. New Statutory Auditors: M/s M S K A & Associates, Chartered Accountants (ICAI Firm Registration No. 105047W) were appointed as the new statutory auditors, replacing Price Waterhouse Chartered Accountants LLP. The new auditors will hold office until the conclusion of the 38th AGM.

3. Secretarial Auditors: M/s Rathi & Associates, Practicing Company Secretaries, Mumbai (Firm Registration No. P1988MH011900, Peer Reviewed No. 6391/2025) were appointed as secretarial auditors for a five-year term from April 2025 to March 2030.

4. Independent Director Re-appointment: Mr. Samir Chaturvedi (DIN: 08911552) was re-appointed as an Independent Director for a second five-year term, from November 12, 2025, to November 11, 2030.

Strategic Decisions

The shareholders approved a significant resolution regarding material related party transactions with Maersk A/S (including A.P. Moller Maersk A/S and its affiliates) for the period from April 1, 2026, to September 30, 2028. This approval grants the Board of Directors, including the Audit Committee, the authority to make material modifications to these transactions without further shareholder reference.

Financial Statements and Compliance

The AGM approved the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025, along with the reports of the Board of Directors and Auditors. All resolutions were passed through a combination of remote e-voting and e-voting at the AGM, in compliance with Section 108 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meeting, which commenced at 3:00 PM and concluded at 3:30 PM, was attended by shareholders through video conferencing, adhering to the ongoing digital transformation in corporate governance practices.

Gujarat Pipavav Port Limited continues to demonstrate strong corporate governance and shareholder engagement, as evidenced by the comprehensive proceedings of its 33rd AGM. The company's focus on strategic appointments, dividend distribution, and approval of key business transactions positions it well for future growth and stakeholder value creation.

Gujarat Pipavav Port Ltd. (GPPL) has announced its financial results for the first quarter, revealing a mixed performance with revenue growth accompanied by margin compression and a slight decline in profitability.

Revenue and Profitability

For the quarter, GPPL reported a revenue of ₹2,504.47 crore, marking a modest increase from ₹2,459.76 crore in the corresponding quarter of the previous year. This represents a year-over-year growth of 1.82%.

Despite the revenue growth, the company's net profit saw a slight decrease. GPPL's net profit for Q1 stood at ₹1,007.27 crore, down from ₹1,046.39 crore in the same period last year, reflecting a decline of 3.74%.

EBITDA and Margin

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter was ₹1,480.82 crore, compared to ₹1,495.12 crore in Q1 of the previous year, showing a marginal decrease of 0.96%.

GPPL experienced a compression in its EBITDA margin, which declined to 59.15% from 60.79% in the corresponding quarter of the previous year. This reduction in margin indicates increased operational costs or pricing pressures in the port services sector.

Dividend Announcement

The company has set August 28 as the record date for determining shareholders eligible for a final dividend of ₹4.20 per share for the financial year ended March 31. This dividend is subject to approval at the Annual General Meeting scheduled for September 4.

Financial Results Approval

The unaudited financial results for the quarter ended June 30 were approved by the board on August 13. The results include unmodified limited review reports from statutory auditors for both standalone and consolidated accounts.

Looking Ahead

As Gujarat Pipavav Port Ltd. navigates through the fiscal year, the company will likely focus on operational efficiency to address the margin compression observed in this quarter. The port sector remains vital to India's economic growth, and GPPL's performance in subsequent quarters will be closely watched by investors and industry observers alike.

Shareholders and potential investors should note that while revenue has shown growth, the company faces challenges in maintaining profitability levels. The upcoming Annual General Meeting may provide further insights into the company's strategies for addressing these challenges and capitalizing on growth opportunities in the port services sector.