Godawari Power And Ispat limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 27, 2026
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Godawari Power and Ispat Limited has called an EGM on June 27, 2026 through video conferencing. The meeting has four agenda items: (1) A special resolution to approve an unsecured loan of up to Rs. 150 Crores to Godawari Education and Research Foundation (GERF), a subsidiary, for setting up a residential school in Raipur; (2-4) Ordinary resolutions for revision in remuneration of three Whole-Time Directors - Mr. Dinesh Agrawal, Mr. Siddharth Agrawal, and Mr. Abhishek Agrawal. The proposed new salary scale is Rs. 4.80-8.40 Crores per annum (Rs. 40 lakhs per month) effective July 1, 2026, compared to their current remuneration of Rs. 3.45 Crores per annum. All three directors are related to Chairman Mr. Bajrang Lal Agrawal. The company's FY2026 financials show gross turnover of Rs. 4,905.45 Crores and net profit after tax of Rs. 919.43 Crores.
The remuneration hike of nearly 40% for three promoter-family directors raises related party concerns. The Rs. 150 Crores loan to the subsidiary for a school project may dilute parent company value. Shareholders should carefully evaluate these proposals, especially given the family relationships among directors.