Gujarat State Fertilizers & Chemicals Limited (GSFC) has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Manoj Kumar Das, IAS, as the company's new Director and Chairman. This move comes following an order from the Energy & Petrochemicals Department, Government of Gujarat.

Key Details of the Appointment

• Appointee: Mr. Manoj Kumar Das, IAS (DIN: 06530792)
• Position: Director and Chairman (Non-Executive, Non-Independent)
• Effective Date: 1st November, 2025
• Tenure: As decided by the Government of Gujarat, not exceeding five years
• Predecessor: Mr. Pankaj Joshi, IAS (Retd.)

E-Voting Process

GSFC has outlined the following schedule for the e-voting process:

About Mr. Manoj Kumar Das

Mr. Manoj Kumar Das, IAS, brings a wealth of experience to his new role:

• Currently serving as the 33rd Chief Secretary to the Government of Gujarat
• Holds a B.Tech in Computer Science from IIT Kharagpur
• Specializes in Revenue administration, Urban Management & Civic Issues, Law & Order, and Disaster Management
• Born on 20th December, 1966

Voting Details

• The company has engaged Central Depository Services (India) Limited (CDSL) for the e-voting process.
• Shareholders holding shares as of the cut-off date, Friday, 14th November, 2025, are eligible to vote.
• The resolution will be deemed passed on the last date of e-voting if approved by the requisite majority.

Additional Information

• GSFC has appointed Mr. Niraj Trivedi, Practicing Company Secretary, as the Scrutinizer for the voting process.
• The results will be available on the company's website ( www.gsfclimited.com ) and CDSL's website ( www.evotingindia.com ).
• For any queries related to e-voting, shareholders can contact CDSL at helpdesk.evoting@cdslindia.com or call the toll-free number 1800 21 09911.

This appointment marks a significant change in GSFC's leadership. Shareholders are encouraged to participate in the voting process to have their say in this important corporate decision.

Gujarat State Fertilizers & Chemicals Limited (GSFC) has reported a strong financial performance for the second quarter of fiscal year 2026, with significant growth in both revenue and profitability.

Financial Highlights

GSFC posted consolidated revenue of Rs. 3,187.00 crores in Q2 FY26, marking a 21% year-on-year increase. The company's profit after tax (PAT) rose by 9% to Rs. 324.00 crores, driven by higher fertilizer sales volumes and improved performance in the industrial products segment.

Segment Performance

Fertilizer Business

The fertilizer business saw a 21% gain in revenue, with sales volume increasing from 5.47 lakh metric tons to 6.08 lakh metric tons. This growth was primarily driven by significant DAP trading. However, due to sharp rises in the cost of imported raw materials, EBIT moderated to Rs. 224.00 crores from Rs. 257.00 crores in the corresponding quarter last year.

Industrial Products Segment

The Industrial Products segment registered a strong turnaround, with sales up 13% year-on-year to Rs. 618.00 crores. EBIT improved from a loss of Rs. 17.00 crores to a profit of Rs. 54.00 crores. This improvement was led by higher sales of traded products such as ammonia and increased production volume of HX Crystal.

Operational Updates

• The company maintained a healthy performance in Q2, demonstrating resilience against raw material volatility.
• GSFC continues to maintain a strong balance sheet with no long-term debt.
• The Sulfuric Acid V project is slated to be commissioned in the coming quarter, which is expected to provide both incremental capacity and cost efficiency benefits.

Market Outlook

• Healthy demand for agri inputs is expected to sustain in the upcoming quarter, supported by an ever-normal southwest monsoon and higher minimum support prices for key Rabi crops.
• The government has announced NBS subsidy rates for the second half of FY25-26 with a 10% increase in phosphorus and sulphur nutrients.
• The caprolactam benzene spread is expected to remain under pressure in the coming quarter amid oversupply conditions.

GSFC anticipates stable demand and turnover in the Industrial Products segment in the next quarter, while the fertilizer segment is well-positioned to achieve sales in line with availability built up through its domestic manufacturing capacities.

The company's strategic focus on cost optimization, product mix management, and export opportunities in products like melamine has contributed to its improved performance, setting a positive tone for the remainder of the fiscal year.