Gujarat Ambuja Exports Reports Mixed Q2 Results: Revenue Up, Profit Down

Gujarat Ambuja Exports Limited (GAEL) has released its financial results for the second quarter, revealing a mixed performance with revenue growth but a decline in profitability.

Revenue Growth

The company reported a significant increase in revenue, which rose to 14.87 billion rupees in Q2, up from 11.25 billion rupees in the same period last year. This represents a year-over-year growth of approximately 32.2%, indicating strong top-line performance.

Profit Decline

Despite the revenue growth, GAEL experienced a substantial decrease in net profit. The company's net profit for the quarter stood at 380.8 million rupees, down from 695 million rupees in the corresponding quarter of the previous year. This marks a decline of about 45.2% in net profit.

EBITDA and Margin Compression

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a decrease:

Metric	Q2 Current Year	Q2 Previous Year	Change
EBITDA (in million rupees)	758.70	1,100.00	-31.0%
EBITDA Margin	5.10%	9.79%	-4.69 percentage points

The EBITDA margin compressed significantly from 9.79% to 5.10%, indicating pressure on the company's operational efficiency.

Management Appointments

In a separate announcement, GAEL's Board of Directors approved the appointment of three new Additional Directors in the category of Non-Executive & Independent Directors, each for a term of five consecutive years, subject to shareholder approval:

Mr. Dukhabandhu Rath (DIN: 08965826)
Mr. Yogesh Ghanshyambhai Shah (DIN: 11203883)
Ms. Gauri Trivedi (DIN: 06502788)

These appointments may bring fresh perspectives and expertise to the company's board.

Conclusion

While Gujarat Ambuja Exports Limited has shown strong revenue growth in the second quarter, the decline in profitability and margin compression suggest challenges in maintaining cost efficiency. Investors and stakeholders will likely be watching closely to see how the company addresses these issues and leverages its revenue growth to improve bottom-line performance in the coming quarters.

The addition of new independent directors to the board may also signal the company's commitment to strengthening its corporate governance and bringing in diverse expertise to navigate the current business environment.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.86%	+7.88%	+16.14%	+11.33%	+0.27%	+119.39%

Gujarat Ambuja Exports Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of three new independent directors. The voting results, announced on December 22, 2025, demonstrate strong shareholder confidence in the proposed board changes.

Postal Ballot Results

The remote e-voting process concluded on December 20, 2025, with scrutinizer CS Chirag Shah (Membership No. FCS: 5545, CP No: 3498) of M/s. Chirag Shah Associates submitting his comprehensive report. The voting results for all three resolutions showed exceptional shareholder support:

Resolution	Votes in Favour	Votes Against	Approval Rate
Mr. Dukhabandhu Rath Appointment	98.26%	1.74%	Passed
Mr. Yogesh Ghanshyambhai Shah Appointment	99.99%	0.01%	Passed
Ms. Gauri Trivedi Appointment	99.97%	0.03%	Passed

A total of 435-437 equity shareholders participated in the voting process, representing 65.46% of the total paid-up equity capital. The remote e-voting facility remained open from November 21, 2025 (9:00 a.m.) to December 20, 2025 (5:00 p.m.).

Approved Board Appointments

Shareholders have formally approved the appointment of three Additional Directors in the category of Non-Executive Independent Directors, each for a term of five consecutive years, effective November 8, 2025:

Director	Background	Experience
Mr. Dukhabandhu Rath (DIN: 08965826)	Banking Professional	Nearly 40 years, including 36 years at State Bank of India
Mr. Yogesh Ghanshyambhai Shah (DIN: 11203883)	Chartered Accountant	Over 40 years, primarily with Deloitte
Ms. Gauri Trivedi (DIN: 06502788)	Former IAS Officer	22 years of service, currently Advisor to Sanskardham

Voting Process Details

The company conducted the postal ballot exclusively through remote e-voting in compliance with MCA Circulars. The postal ballot notice dated November 8, 2025 was dispatched electronically to members on November 20, 2025. The company also published newspaper advertisements in The Indian Express (English) and Financial Express (Gujarati) on November 21, 2025.

Process Details	Information
Record Date	November 14, 2025
Board Meeting Date	November 8, 2025
Scrutinizer Report Date	December 22, 2025
Total Paid-up Equity Participation	65.46%

Recent Financial Performance

Prior to these appointments, Gujarat Ambuja Exports reported mixed financial results for Q2 2025. While the company achieved strong revenue growth of 32.19% year-over-year to ₹1,486.69 crore, profitability declined with net profit decreasing by 45.23% to ₹38.08 crore compared to the same quarter last year.

Governance Strengthening

The overwhelming shareholder approval reflects confidence in the company's governance enhancement strategy. These appointments bring diverse expertise spanning banking, accounting, and public administration to Gujarat Ambuja Exports' board, potentially supporting the company's strategic initiatives across its diversified business segments including maize processing, agro processing, spinning, and renewable power divisions.

The successful completion of the postal ballot process and strong shareholder participation demonstrate effective corporate governance practices and stakeholder engagement at Gujarat Ambuja Exports Limited.