Gokul Agro Resources Limited has informed the Exchange about revision in remuneration of Mr. Hiteshkumar Tarachnad Thakkar, CEO and Whole Time Director of the Company
GOKULAGRO · price
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Gokul Agro Resources reported strong Q1 FY26 results with standalone revenue of Rs. 4,624.95 crores (up ~16% YoY) and net profit of Rs. 64.20 crores (up ~52% YoY); EPS stood at Rs. 4.35 vs Rs. 2.86 last year. Consolidated revenue grew to Rs. 4,924.35 crores with net profit of Rs. 71.00 crores (EPS Rs. 4.85). The board approved a stock split from Rs. 2 face value to Rs. 1 face value (1:2) to improve retail participation. CEO and Whole Time Director Mr. Hiteshkumar Thakkar's remuneration was revised to Rs. 17 lakh per month for three years from April 1, 2025. A new ESOP Plan 2025 covering 28 lakh stock options was introduced. Sweat equity shares worth Rs. 30.36 crores and Rs. 24.28 crores were issued to promoter CMD Mr. Kanubhai Thakkar and promoter group JMD Mr. Jayesh Thakkar respectively at Rs. 303.56 per share. Statutory auditor M/s Surana Maloo & Co. is being replaced by M/s Pipara & Co LLP after completion of their second term.
Q1 numbers show strong topline and profit growth, likely positive for the stock. The stock split should improve liquidity and retail accessibility, though the sweat equity to promoters (dilution of ~0.27% of capital at fair value) and large ESOP pool (28 lakh options) will create some dilution over time. The auditor change is routine (tenure-based) with no governance red flags reported.