Outcome of Board Meeting held on May 27, 2026
GULFPETRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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GP Petroleums reported audited consolidated results for FY26 with revenue from operations of Rs 64,261 Lakhs, up 5.4% from Rs 60,984 Lakhs in FY25. Profit after tax stood at Rs 2,647 Lakhs versus Rs 2,632 Lakhs in the prior year, a marginal increase. The board declared an unmodified (clean) audit opinion from J Mandal & Co LLP. Exceptional items of Rs 326.33 Lakhs were recorded due to incremental employee liability from new Labour Codes. The company also proposes to acquire adjoining land at Raliawas, Haryana from a related party. Key management changes include appointment of a new VP-Operations, elevation of Mr. Dilip U Vaswani as Non-Executive Director, appointment of Mr. Sukumaran Jeyakrishnan as Independent Director, and resignation of Mrs. Deepa Goel.
The steady but modest profit growth and clean audit opinion are neutral-to-positive for shareholders. The exceptional item from labour code changes is a one-time charge. The related party land acquisition may raise minor governance concerns depending on terms.