Gujarat Natural Resources Limited (GNRL) has announced its financial results for the first quarter of fiscal year 2026, reporting a consolidated profit and implementing changes to its board committees.

Financial Performance

For the quarter ended June 30, 2025, GNRL reported a consolidated profit of Rs 192.70 crore. The company's consolidated revenue from operations stood at Rs 335.49 crore, while the total income reached Rs 673.83 crore.

On a standalone basis, GNRL's performance was also positive:

Board Committee Restructuring

In a move to strengthen its corporate governance, GNRL has reconstituted three key board committees effective August 12, 2025:

1. Audit Committee
2. Nomination & Remuneration Committee
3. Stakeholders Relationship Committee

Mr. Yash Bodade has been appointed as the Chairperson for all three committees, signaling a unified approach to these critical governance functions.

Committee Compositions

The newly restructured committees are composed as follows:

Audit Committee

• Mr. Yash Bodade (Chairperson, Independent Director)
• Mr. Ashok Shah (Member, Non-Executive Director)
• Mrs. Deepti Gavali (Member, Independent Director)

Nomination & Remuneration Committee

• Mr. Yash Bodade (Chairperson, Independent Director)
• Mr. Ashok Shah (Member, Non-Executive Director)
• Mrs. Deepti Gavali (Member, Independent Director)

Stakeholders Relationship Committee

• Mr. Yash Bodade (Chairperson, Independent Director)
• Mr. Shalin Shah (Member, Managing Director)
• Mrs. Deepti Gavali (Member, Independent Director)

Business Operations

GNRL operates in the oil and gas sector and engages in trading activities. The consolidated results include the performance of its four subsidiaries:

1. GNRL Oil & Gas India Private Limited
2. GNRL Oil & Gas Limited
3. Heramec Oil & Gas (Singapore) Pte Ltd.
4. Alkor Petro Overseas Ltd.

The company's board of directors approved these unaudited financial results in a meeting held on August 12, 2025. The results have undergone a limited review by statutory auditors, with no observations that could impact the Q1 FY2026 results.

Gujarat Natural Resources Limited continues to operate under the leadership of Mr. Shalin A. Shah, who serves as the Managing Director of the company.

Gujarat Natural Resources Limited (GNRL) has made significant changes to its board and audit structure, as approved by shareholders at the company's 34th Annual General Meeting (AGM) held on August 8, 2025.

Board Appointments

The company has regularized the appointment of two Non-Executive Independent Directors for a five-year term, effective from May 24, 2025, to May 23, 2030:

1. Mr. Paragkumar Prakashchandra Raval: A 45-year-old LLB graduate with over 18 years of advocacy experience at the Gujarat High Court. His expertise in advocacy is expected to contribute significantly to the company's strategic decision-making.

2. Mrs. Deepti Ghanshyam Gavali: A 42-year-old B.Sc. graduate with more than 10 years of experience in managing business ventures across various industries. Her strategic vision and operational expertise are anticipated to support the company's expansion and efficiency efforts.

Both directors have been confirmed not to have any relationships with existing board members, ensuring their independence in decision-making processes.

Secretarial Auditor Appointment

In addition to the board appointments, GNRL shareholders approved the appointment of Mr. Chintan K. Patel as the company's Secretarial Auditor. Mr. Patel, a Practicing Company Secretary, has been appointed for a term of five consecutive financial years, from FY 2025-26 to FY 2029-30.

Mr. Patel brings experience in handling secretarial audits for both listed and unlisted companies. He holds Peer Review Certificate No. 2175/2022 issued by the Peer Review Board of the Institute of Company Secretaries of India.

AGM Proceedings

The AGM, which lasted 10 minutes from 3:30 PM to 3:40 PM, was conducted through Video Conference (VC)/Other Audio Visual Means (OAVM) in compliance with relevant MCA and SEBI circulars. Mr. Shalin Shah, Managing Director of GNRL, presided as the Chairman of the meeting due to health concerns of the company's Chairman, Mr. Ashok Shah.

During the meeting, shareholders approved several resolutions, including:

• Adoption of financial statements
• Re-appointment of Mr. Hitesh Donga as a director
• Various material related party transactions with companies such as:
  • Rhetan TMT Limited
  • Ashnisha Industries Limited
  • Ashoka Metcast Limited
  • Lesha Industries Limited

These appointments and approvals mark a significant step for Gujarat Natural Resources Limited as it strengthens its governance structure and prepares for future growth and compliance challenges.