Recommended Reappointment of Independent Directors for the 2nd Term of 3 years for approval of the Shareholders
GUJENERGY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gujarat Energy Limited (formerly Gujarat Gas Limited) held its Board Meeting on 30th May, 2026 and announced several outcomes. The Board approved and recommended reappointment of four Independent Directors for their 2nd term of 3 years: Prof. Yogesh Singh (w.e.f. 15th Aug 2026), Shri Bhadresh Mehta (w.e.f. 15th Aug 2026), Shri Balwant Singh IAS Retd. (w.e.f. 20th April 2027), and Dr. Rekha Jain (w.e.f. 20th April 2027). Notably, two directors - Shri Balwant Singh and Dr. Rekha Jain - will continue their appointments beyond the age of 75 years, requiring special shareholder approval. The Board also approved FY26 Audited Financial Results showing Total Income of Rs. 24,818.89 Crores, Profit After Tax of Rs. 2,298.55 Crores, and recommended a final dividend of Rs. 8.90 per equity share (Rs. 835.03 Crores total). The company also announced changes in Senior Management Personnel and change in registered office. The company underwent a major restructuring - amalgamation of GSPC, GSPL and GSPC Energy with Gujarat Gas (now Gujarat Energy) effective 1st May 2026, and demerger of Gas Transmission Business.
The reappointment of multiple independent directors including two continuing beyond age 75 reflects continuity in board oversight. However, shareholders should note the governance aspect of age relaxations. The financial results reflect the impact of the amalgamation and demerger with restated figures.