GP Petroleums Limited has disclosed to stock exchanges the involuntary transfer of promoter shares following regulatory action by the GST Department. The company received communication on March 02, 2026, from its promoter entity Nivaya Resources Private Limited regarding the transfer of equity shares from its demat account.

Share Transfer Details

The transfer involved significant shareholding of the promoter entity, with specific details outlined in the regulatory filing:

GST Department Recovery Action

The share transfer was executed pursuant to a notice issued by the GST Department under Section 79(1)(c) of the CGST Act, 2017. This provision allows for recovery of government dues through attachment of shares and stocks. The GST authorities issued the notice to NSDL (National Securities Depository Limited) and copied it to Nivaya Resources Private Limited.

The promoter entity promptly informed GP Petroleums about the transfer upon receiving the holding and transaction statements. However, complete details of the transferee are not fully available in the transaction statement, and the promoter entity is seeking further information from concerned authorities and intermediaries.

Company's Response and Clarifications

GP Petroleums has emphasized several key points regarding this development:

• The company is examining the matter and seeking appropriate clarifications from concerned intermediaries
• No financial impact on the company as the matter pertains to promoter shareholding transfer
• No aberrations or non-compliances have been reported against the company
• The GST notices were issued to NSDL and the promoter entity, not to the company
• No penalty, restriction, or sanction has been imposed on the company

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has taken note of the communication from the promoter entity and sought additional details for completeness of records. GP Petroleums clarified that this matter pertains solely to the promoter entity and does not involve any transaction or liability of the company itself.

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.