Gujarat State Fertilizers & Chemicals Limited (GSFC) has announced a significant change in its leadership. Pankaj Joshi, IAS (Retd.), has stepped down from his position as Chairman of the company, effective October 31, 2025. This move comes as a result of Joshi's superannuation from his role as Chief Secretary to the Government of Gujarat.

Leadership Changes Across Multiple State Entities

The resignation extends beyond GSFC, as Joshi has also relinquished his positions in several other Gujarat state companies. These include:

Official Notification and Compliance

GSFC has duly informed the stock exchanges, BSE and NSE, about this leadership change in compliance with regulatory requirements. The company's notification adheres to Regulation 30(2) read with Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Resignation

According to the LODR data provided by GSFC:

• Effective Date of Resignation: October 31, 2025
• Reason for Change: Resignation following superannuation as Chief Secretary to Government of Gujarat
• Director Identification Number (DIN): 01532892

The company has also submitted a copy of Joshi's resignation letter to the stock exchanges, which details his departure from multiple state-owned entities.

This leadership transition marks a significant change for Gujarat State Fertilizers & Chemicals Limited and other Gujarat state companies.

Gujarat State Fertilizers & Chemicals Limited (GSFC) has taken a significant step to protect the domestic Nylon 6 industry by initiating an anti-dumping investigation on imports from China, Russia, Taiwan, and Thailand. This move comes as the company maintains its strong financial position, as evidenced by recent credit rating reaffirmations.

Anti-Dumping Investigation

GSFC has launched an anti-dumping investigation targeting Nylon 6 imports from four countries: China, Russia, Taiwan, and Thailand. The probe specifically focuses on Nylon 6 products with a relative viscosity ranging from RV-3.0 to 3.6. This action suggests that GSFC has concerns about unfair pricing practices in these imports, which may be adversely affecting domestic market conditions.

The investigation aims to determine whether these imports are being sold at prices below their normal value, potentially harming the domestic Nylon 6 industry. If dumping is confirmed, it could lead to the imposition of anti-dumping duties to level the playing field for domestic producers.

Strong Credit Ratings Reaffirmed

In a separate development, CARE Ratings Limited has reaffirmed GSFC's strong credit ratings, underlining the company's robust financial health. The ratings are as follows:

The 'CARE AA+' rating for long-term bank facilities indicates a high degree of safety regarding timely servicing of financial obligations, carrying very low credit risk. The 'CARE A1+' rating for short-term facilities and commercial paper represents the highest short-term credit quality, suggesting a very strong degree of safety for timely payment of financial obligations.

These ratings reflect GSFC's strong market position, diversified product portfolio, and robust financial profile. The stable outlook indicates that CARE Ratings expects GSFC to maintain its credit profile over the medium term.

The reaffirmation of these high credit ratings, coupled with the company's proactive stance in protecting domestic industry interests through the anti-dumping investigation, demonstrates GSFC's commitment to maintaining its strong market position and financial health in a challenging global environment.

As the anti-dumping investigation progresses, industry stakeholders will be closely watching for potential impacts on the Nylon 6 market dynamics and GSFC's strategic positioning in the sector.