GP Petroleums Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, alongside approving a significant acquisition in the specialty bitumen segment. The Board meeting held on February 14, 2026, addressed key strategic and operational decisions for the company's growth trajectory.

Financial Performance for Q3FY26

The company reported mixed financial performance for the third quarter of FY26. While revenue from operations showed strong growth, profitability faced some pressure compared to the previous year.

For the nine months ended December 31, 2025, the company achieved revenue from operations of Rs. 47,958.62 lakhs compared to Rs. 42,690.59 lakhs in the corresponding period of the previous year. Net profit for the nine-month period stood at Rs. 1,714.76 lakhs versus Rs. 1,770.87 lakhs in the previous year.

Specialty Bitumen Plant Acquisition

The Board approved a strategic acquisition of a specialty bitumen manufacturing plant located at GIDC Road, Manjusar, Savli, Vadodara, Gujarat. This acquisition represents a strategic shift from the company's earlier plan to acquire the plant jointly with a joint venture partner, which could not be consummated due to commercial, operational and implementation-related challenges.

The acquisition serves multiple strategic purposes including entering niche production of PMB, CRMB, emulsions and value-added bitumen products, strengthening market presence in the specialty bitumen segment, and aligning with the company's strategic expansion and growth plans.

Segment Performance Analysis

The company's business segments showed varied performance during Q3FY26. The manufacturing segment continued to be the primary revenue driver, while the trading segment faced challenges.

Exceptional Items and Regulatory Impact

The company reported exceptional items of Rs. 194.82 lakhs during Q3FY26, primarily due to the impact of new Labour Codes notified by the Government of India on November 21, 2025. This incremental liability comprises additional gratuity liability of Rs. 97.20 lakhs and leave encashment compensation of Rs. 97.62 lakhs based on the revised definition of wages.

Related Party Transaction Details

The plant acquisition qualifies as a related party transaction since Mr. Ayush Goel, Chairman & Managing Director of GP Petroleums, serves as a common director in both companies. The transaction is proposed to be undertaken in the ordinary course of business on an arm's length basis, with consideration approved based on the Audit Committee's recommendation and independent valuation. The definitive agreement for the plant purchase is currently under finalization and in the process of execution. The company does not hold any equity shareholding in New Horizons Asphalt Private Limited.

GP Petroleums Limited has announced the resignation of Mr. Pradeep Kishore Mittal from his position as CEO-Lubricants, effective from the close of business hours on January 31, 2026. The resignation was submitted due to personal reasons, as disclosed in the company's regulatory filing dated January 28, 2026.

Leadership Transition Details

The company has formally notified both BSE Limited and National Stock Exchange of India about this significant organizational change under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The resignation represents a key leadership transition in GP Petroleums' lubricants division.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically under Regulation 30 read with Part A of Schedule III of the SEBI Listing Regulations. The company has provided all required details as per SEBI circulars dated July 13, 2023, and November 11, 2024, ensuring full regulatory compliance.

Company's Acknowledgment

GP Petroleums Limited has placed on record its appreciation for the valuable contributions made by Mr. Pradeep Kishore Mittal during his tenure with the company. The organization has expressed its best wishes for his future endeavors, acknowledging his service to the lubricants division.

Documentation and Formalities

The company has submitted comprehensive documentation to the stock exchanges, including:

• Formal resignation letter from Mr. Mittal
• Detailed annexure with resignation particulars
• Compliance documentation as per SEBI requirements
• Official notification signed by Company Secretary Kanika Sehgal Sadana

This leadership change marks a significant transition for GP Petroleums' lubricants business segment as the company prepares for new leadership in this division.