Gujarat Ambuja Exports Shareholders Approve Independent Director Appointments

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.

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 (GAEL) has taken a significant step towards expanding its production capabilities by signing a Memorandum of Understanding (MOU) with the Government of Gujarat. The agreement focuses on expanding the derivative capacity at the company's 900 TPD Corn Wet Milling Plant in Himmatnagar, Gujarat.

Project Details

Aspect	Details
Project Cost	Rs. 100.00 crores
Financing	Internal accruals
Location	Himmatnagar, Gujarat
Plant Type	900 TPD Greenfield Corn Wet-Milling Plant
Current Status	MOU signed, subject to necessary approvals

The expansion project, estimated to cost Rs. 100.00 crores, will be entirely financed through the company's internal accruals. This move demonstrates GAEL's strong financial position and commitment to growth without relying on external funding sources.

Strategic Implications

This expansion is a strategic move for Gujarat Ambuja Exports, potentially enhancing its production capabilities and market position in the corn wet milling sector. The increased derivative capacity could lead to a wider product range or higher production volumes, potentially boosting the company's revenue and market share.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, GAEL has duly informed the stock exchanges about this development. The company has also uploaded this information on its official website, ensuring transparency for all stakeholders.

Next Steps

While the MOU marks a crucial first step, it's important to note that the project is subject to necessary approvals and clearances from concerned authorities. Investors and stakeholders will likely be keeping a close eye on the progress of these approvals and the subsequent implementation of the expansion plans.

This expansion initiative by Gujarat Ambuja Exports Limited underscores the company's growth ambitions and its confidence in the future demand for its products. As the project moves forward, it will be interesting to observe its impact on the company's operational capacity and financial performance.