Gandhar Oil Refinery (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 12, 2025
GANDHAR · price
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Gandhar Oil Refinery held its 33rd AGM on August 12, 2025 via video conferencing, chaired by Chairman & MD Mr. Ramesh Parekh. The meeting was attended by 41 members representing 6,35,77,233 equity shares (64.95% of total), with all directors, statutory auditors, and secretarial auditors present. Ten resolutions were taken up, including adoption of FY25 audited financial statements, declaration of a final dividend of ₹0.50 per share (25% on face value of ₹2), re-appointment of Mr. Ramesh Parekh as Managing Director and Ms. Amrita Nautiyal as Independent Director, appointment of KJK & Associates as new Statutory Auditors, and special resolutions to increase the company's borrowing powers and create charges on assets. Voting was conducted through remote e-voting and 15 minutes of e-voting at the meeting, with results to be announced within 2 working days.
Key positives for shareholders include the confirmed final dividend of ₹0.50 per share and continuity in leadership with Mr. Ramesh Parekh's re-appointment. The approval to raise borrowing limits and create charges on company assets signals potential capacity for future expansion or capex, though it also means the company may take on more debt. The change in statutory auditor to KJK & Associates is a governance item to note; actual voting results and their pass margins are still pending and may influence short-term sentiment.