Annual Report 2024-25 is attached herewith
GNRL · price
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Gujarat Natural Resources Ltd has filed its Annual Report for FY 2024-25 along with the Notice for its 34th Annual General Meeting, scheduled for August 8, 2025 via video conferencing. Key items on the AGM agenda include adoption of financial statements, re-appointment of Mr. Hitesh Donga as Director, and appointment of Mr. Chintan K. Patel as Secretarial Auditor for a 5-year term (FY 2025-26 to 2029-30) with annual fees of Rs. 3,00,000. The company is also seeking shareholder approval to raise its borrowing limit under Section 180(1)(c) from Rs. 200 Crore to Rs. 500 Crore, and to increase the limit for loans/investments/guarantees under Section 186 from Rs. 250 Crore to Rs. 500 Crore, citing expected business growth. Two new Independent Directors — Mr. Paragkumar Raval and Mrs. Deepti Gavali — appointed on May 24, 2025, are being regularised. The Notice also seeks approval for material related party transactions of up to Rs. 150 Crore each with Rhetan TMT, Ashnisha Industries, Ashoka Metcast, and Lesha Industries for FY 2026-27, all entities sharing common directors/management with GNRL.
Shareholders will vote on significantly higher borrowing capacity (2.5x increase to Rs. 500 Cr) and large related party transactions (Rs. 150 Cr each with four connected entities), which could expand the company's business footprint but also raises governance scrutiny given the inter-connected director network across these companies.