Please find attached herewith the Notice of Extra-ordinary General Meeting to be held on 27.06.2026.
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Godawari Power and Ispat Ltd has called an EGM on June 27, 2026 via video conferencing. The meeting has four agenda items: (1) Special resolution to advance a loan up to Rs.150 Crores to subsidiary Godawari Education and Research Foundation (GERF) for setting up a residential school in Raipur, (2-4) Ordinary resolutions for revision in remuneration of three Whole-Time Directors - Dinesh Agrawal, Siddharth Agrawal, and Abhishek Agrawal. All three directors' salaries are proposed to increase from Rs.3.45 Crores to a scale of Rs.4.80-8.40 Crores per annum effective July 1, 2026. The company reported strong financials for FY2026 with net profit after tax of Rs.919.43 Crores on gross turnover of Rs.4,905.45 Crores. Remote e-voting will be open from June 24-26, 2026.
Shareholders should approve the proposed items. The significant salary hikes for three Whole-Time Directors (all from the promoter family) will increase management costs but come amid record profits. The Rs.150 Crore loan to the subsidiary for a school project represents a related party transaction with Siddharth Agrawal serving on both boards.