Gujarat Craft Industries Limited (GCIL) has announced that two of its promoters have entered into a Shareholder Voting Authorization Agreement, a move aimed at strengthening the company's governance structure and strategic direction.

Key Details of the Agreement

• Ensure unified corporate governance
• Protect lender interests |

Implications and Purpose

The agreement between the promoters is designed to create a more cohesive decision-making process within Gujarat Craft Industries Limited. By aligning the voting interests of key promoters, the company aims to:

1. Streamline governance processes
2. Enhance strategic direction
3. Maintain consistency in corporate management
4. Safeguard the interests of the company's lenders and banks

Disclosure and Transparency

In compliance with regulatory requirements, Gujarat Craft Industries Limited has made this disclosure under Regulation 30(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that all stakeholders are informed about significant changes in the company's governance structure.

While the company itself is not a party to the agreement, this arrangement between promoters could potentially impact the overall management and strategic decisions of GCIL. Shareholders and investors may want to monitor how this agreement influences the company's future direction and performance.

As this agreement involves key promoters of the company, it underscores the importance of understanding the dynamics of promoter relationships and their potential impact on corporate governance in publicly listed companies.

Gujarat Craft Industries Limited , a prominent player in the manufacturing sector, has announced several significant corporate decisions following its board meeting held on July 26, 2025. The company has set the stage for its upcoming Annual General Meeting (AGM) and made important changes to its leadership structure.

41st AGM Scheduled

The board has decided to convene the 41st Annual General Meeting of Gujarat Craft Industries on September 29, 2025, at 1:00 p.m. In line with modern corporate practices, the AGM will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM), adhering to the guidelines set by the Ministry of Corporate Affairs and SEBI.

Record Date for Dividend

Shareholders should note that September 22, 2025, has been fixed as the Record Date for determining eligibility to receive the final dividend for the financial year 2024-25, if declared at the AGM. The company plans to disburse the dividend, if approved, on or after September 29, 2025, within the statutory time limit.

E-voting Details

To ensure shareholder participation, the company has arranged for remote e-voting facilities. The e-voting period will commence on September 26, 2025, at 9:00 a.m. and conclude on September 28, 2025, at 5:00 p.m. Shareholders of record as of September 22, 2025, will be eligible to cast their votes electronically.

Leadership Changes and Appointments

In a significant move, the board has elevated Mr. Rishab Chhajer to the position of Chairman and Joint Managing Director. Furthermore, subject to shareholder approval at the AGM, Mr. Chhajer is set to be re-appointed as Chairman & Managing Director for a three-year term starting February 13, 2026.

The board has also approved the appointment of Mr. Parth B. Thakkar as an Additional Director (Non-Executive & Independent) for a five-year term beginning September 1, 2025, pending shareholder approval. Mr. Thakkar brings valuable experience in corporate law and SEBI regulations to the board.

Committee Reconstitutions

Effective September 1, 2025, the company will reconstitute its Nomination & Remuneration Committee and Stakeholders Relationship Committee:

• Nomination & Remuneration Committee:

  • Chair: Ms. Anal R. Desai
  • Members: Mr. Hitendra Chopra and Mr. Parth B. Thakkar

• Stakeholders Relationship Committee:

  • Chair: Mr. Parth B. Thakkar
  • Members: Mr. Rishabh Chhajer and Ms. Anal R. Desai

Appointment of Secretarial Auditors

Subject to shareholder approval, the board has recommended the appointment of M/s. Nishant Pandya & Associates, Practising Company Secretaries, as the company's Secretarial Auditors for a term of five consecutive years from FY 2025-26 to FY 2029-30.

These decisions reflect Gujarat Craft Industries' commitment to robust corporate governance and strategic leadership. Shareholders and investors will be keenly watching how these changes impact the company's future direction and performance in the coming years.