Gujarat Energy logo

Gujarat Energy MD, chairman, board of directors and AGM

NSE: GUJENERGYBSE: 539336GasSmall Cap

Formerly Gujarat Gas
Last close ₹214.28down ₹3.85 (1.77%)BSE ₹214.20

Share price at the NSE close on 23 Oct 2026. Previous close ₹218.13.

52-week range of traded prices to 23 Oct 2026
₹211.32Low, 23 Oct 2026₹443.75High, 6 Jan 2026
Market cap
₹20,104 Cr278th largest listed
P/E
Demergernew accounts awaited
P/B
Demergernew accounts awaited
Dividend yield
4.15%
ROE
Demergernew accounts awaited
ROCE
Demergernew accounts awaited
Debt to equity
Demergernew accounts awaited
Volume, NSE
7,23,78646.7% delivered

Gujarat Energy board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonManoj Kumar Das IASRelated to the promoter
  • Managing directorAvantika Aulakh IAS
  • Company Secretary and Compliance OfficerSandeep Vishnuprasad Dave

8 directors4 independent1 executive3 non-executive

  • Manoj Kumar Das IAS · ChairpersonNon-executive · joined Nov 2025 · reappointed Nov 2025 · 0 months as independent · 3 listed boards · 2 committee seats, 2 as chair
  • T Natarajan IASNon-executive · joined Sep 2024 · reappointed Sep 2024 · 0 months as independent · 4 listed boards · 7 committee seats, 1 as chair
  • Ashwini Kumar Yadav IASNon-executive · joined Jan 2026 · reappointed Jan 2026 · 0 months as independent · 3 listed boards · 2 committee seats, 1 as chair
  • Balwant Singh IAS RetdIndependent · joined Apr 2022 · reappointed Jul 2022 · 50 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Yogesh SinghIndependent · joined Aug 2021 · reappointed Sep 2021 · 58 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Bhadresh Vinaychandra MehtaIndependent · joined Aug 2021 · reappointed Sep 2021 · 58 months as independent · 2 listed boards · 2 as independent · 6 committee seats, 5 as chair
  • Rekha JainIndependent · joined Apr 2022 · reappointed Jul 2022 · 50 months as independent · 2 listed boards · 2 as independent · 4 committee seats
  • Avantika Aulakh IAS · Managing directorExecutive · joined Dec 2025 · reappointed Dec 2025 · 0 months as independent · 3 listed boards · 5 committee seats

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

4 directors who left
  • Syed Jawaid Haider IAS, left 1 Jan 2026: Others
  • Milind Torawane IAS, left 24 Dec 2025: Others
  • Pankaj Harishchandra Joshi IAS, left 1 Nov 2025: Others
  • Raj Kumar IAS Retd, left 31 Jan 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 30 May 20267 of 8 present4 independent · 30 days in between
    • 29 Apr 20267 of 8 present3 independent · 47 days in between
    • 12 Mar 20267 of 8 present3 independent · 50 days in between
    • 20 Jan 20266 of 7 present3 independent

  • Audit Committee

    Chair Balwant Singh IAS Retd

    T Natarajan IAS, Bhadresh Vinaychandra Mehta, Yogesh Singh, Rekha Jain, Avantika Aulakh IAS

    • 30 May 20265 of 6 present4 independent · 4 days in between
    • 25 May 20266 of 6 present4 independent · 27 days in between
    • 27 Apr 20265 of 6 present3 independent · 45 days in between
    • 12 Mar 20265 of 6 present3 independent · 50 days in between
    2 earlier meetings
    • 20 Jan 20265 of 6 present3 independent · 2 days in between
    • 17 Jan 20264 of 6 present3 independent

  • Nomination and remuneration committee

    Chair Balwant Singh IAS Retd

    Ashwini Kumar Yadav IAS, Rekha Jain, Bhadresh Vinaychandra Mehta

    • 25 May 20263 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Bhadresh Vinaychandra Mehta

    Ashwini Kumar Yadav IAS, Balwant Singh IAS Retd, Rekha Jain

    • 25 May 20263 of 4 present3 independent · 127 days in between
    • 17 Jan 20264 of 4 present3 independent

  • Risk Management Committee

    Chair T Natarajan IAS

    Bhadresh Vinaychandra Mehta, Rekha Jain, Avantika Aulakh IAS, Rajesh Sivadasan

    • 25 May 20264 of 4 present2 independent · 124 days in between
    • 20 Jan 20264 of 4 present2 independent

  • Corporate Social Responsibility Committee

    Chair Balwant Singh IAS Retd

    T Natarajan IAS, Ashwini Kumar Yadav IAS, Bhadresh Vinaychandra Mehta, Avantika Aulakh IAS

    • 25 May 20264 of 5 present2 independent · 127 days in between
    • 17 Jan 20263 of 4 present2 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Ashok Chhajed & AssociatesPeer-review certificate valid to Apr 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Gujarat Energy AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Gujarat Energy dividend history

Annual general meeting, 29 Sep 2026

3,56,459 shareholders on the register on 22 Sep 2026; present: 1 promoter and 105 others; votes counted by Kiran Kumar Patel / M/s K. K. Patel & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the Financial Year ended 31st March, 2026 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller & Auditor General of India.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.06% · other public 0.01%

    Turnout: all 83.24% · promoters 99.64% · institutions 81.23% · other public 62.57%

  2. To declare Dividend on Equity Shares for the Financial Year 2025 - 26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 83.45% · promoters 99.64% · institutions 81.87% · other public 62.57%

  3. To re-appoint Dr. T. Natarajan, IAS (DIN: 00396367), who retires by rotation and being eligible offers himself for re-appointment.
    Ordinary
    92.12% for7.88% against

    Against: promoters 0.00% · institutions 24.03% · other public 0.01%

    Turnout: all 83.45% · promoters 99.64% · institutions 81.87% · other public 62.57%

  4. To authorise the Board of Directors of the Company to fix remuneration of Statutory Auditors of the Company for Financial Year 2026 - 27, in terms of the provisions of Section 142 of Companies Act, 2013.MoreLess
    Ordinary
    93.27% for6.73% against

    Against: promoters 0.00% · institutions 20.53% · other public 0.01%

    Turnout: all 83.45% · promoters 99.64% · institutions 81.87% · other public 62.57%

  5. To ratify the remuneration payable to M/s. Kailash Sankhlecha & Associates, as Cost Auditors of the Company for the Financial Year 2026-27.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 83.45% · promoters 99.64% · institutions 81.87% · other public 62.57%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 2 Aug 2026, 8 resolutions

3,33,588 shareholders on the register on 26 Jun 2026; votes counted by Kiran Kumar Patel / M/s K. K. Patel & Associates.The company's voting result (opens in a new tab)

  1. To approve appointment of Shri Manoj Kumar Das, IAS (DIN: 06530792) as a Director & Chairman of the Company, liable to retire by rotation
    Ordinary
    95.25% for4.75% against

    Against: promoters 0.00% · institutions 13.32% · other public 0.02%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  2. To approve appointment of Smt. Avantika Singh Aulakh, IAS (DIN: 07549438) as Managing Director of the Company and to approve the managerial remuneration
    Ordinary
    91.75% for8.25% against

    Against: promoters 0.00% · institutions 23.13% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  3. To approve appointment of Shri Ashwini Kumar, IAS (DIN: 06581753) as a Director of the Company, liable to retire by rotation
    Ordinary
    95.17% for4.83% against

    Against: promoters 0.00% · institutions 13.52% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  4. To approve re-appointment of Prof. Yogesh Singh (DIN: 06600055) as an Independent Director of the Company for a 2nd Term of 3 consecutive years
    Special
    90.41% for9.59% against

    Against: promoters 0.00% · institutions 26.87% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  5. To approve re-appointment of Shri Bhadresh Mehta (DIN: 02625115) as an Independent Director of the Company for a 2nd Term of 3 consecutive years
    Special
    91.68% for8.32% against

    Against: promoters 0.00% · institutions 23.32% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  6. To approve continuation of Directorship of Shri Balwant Singh, IAS (Retd.) (DIN: 00023872) beyond age of 75 years attaining during 1st term of appointment.
    Special
    98.34% for1.66% against

    Against: promoters 0.00% · institutions 4.62% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  7. To approve re-appointment of Shri Balwant Singh, IAS (Retd.) (DIN: 00023872) as an Independent Director of the Company for a 2nd Term of 3 consecutive years and to approve continuation of his directorship after attainment of 75 years of ageMoreLess
    Special
    95.13% for4.87% against

    Against: promoters 0.00% · institutions 13.62% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

  8. To approve re-appointment of Dr. Rekha Jain (DIN: 01586688) as an Independent Woman Director of the Company for a 2nd Term of 3 consecutive years and to approve continuation of her directorship after attainment of 75 years of ageMoreLess
    Special
    97.26% for2.74% against

    Against: promoters 0.00% · institutions 7.65% · other public 0.04%

    Turnout: all 87.66% · promoters 99.64% · institutions 90.50% · other public 66.40%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 29 Sep 2026, 7 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the Financial Year ended 31st March, 2026 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller & Auditor General of India.MoreLess
    7 for0 against
  • To declare Dividend on Equity Shares for the Financial Year 2025 - 26.
    7 for0 against
  • To re-appoint Dr. T. Natarajan, IAS (DIN: 00396367), who retires by rotation and being eligible offers himself for re-appointment.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this resolution is warranted because the board independence is less than adequate (after reclassification) and Thiruvenkadam Natarajan is a non-independent director nominee. Further, Thiruvenkadam Natarajan serves on the audit committee and the company paid excessive non-audit fees to its auditor during FY26.
    6 for1 against
  • To authorise the Board of Directors of the Company to fix remuneration of Statutory Auditors of the Company for Financial Year 2026 - 27, in terms of the provisions of Section 142 of Companies Act, 2013.MoreLess
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this proposal is warranted given that the non-audit fees exceeded the total audit fees paid to the company's audit firm in the latest fiscal year without satisfactory explanation.
    6 for1 against
  • To ratify the remuneration payable to M/s. Kailash Sankhlecha & Associates, as Cost Auditors of the Company for the Financial Year 2026-27.
    7 for0 against

Mutual fund votes, meeting of 2 Aug 2026, 7 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To approve appointment of Shri Manoj Kumar Das, IAS (DIN: 06530792) as a Director & Chairman of the Company, liable to retire by rotation
    7 for0 against
  • To approve appointment of Smt. Avantika Singh Aulakh, IAS (DIN: 07549438) as Managing Director of the Company and to approve the managerial remuneration
    Against HSBC Mutual Fund, Sundaram Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • Avantika Singh Aulakh holds executive position at two companies. This may impair her ability to devote adequate time to the affairs of each company.
    • Sundaram Mutual FundMs. Avantika Singh Aulakh, 45, is an IAS officer, currently serving as Managing Director of Gujarat Energy Limited; Managing Director of Gujarat Alkalies and Chemicals Limited; and Non-Executive Vice Chairperson of GSPL Transmission Ltd. Previously, she served as Additional Principal Secretary to the Hon'ble Chief Minister of Gujarat; District Collector of Ahmedabad, Vadodara, Bharuch and Anand; Vice Chairman & CEO of Gujarat Maritime Board; CEO of Gujarat Infrastructure Development Board; and Managing Director of Gujarat Rail Infrastructure Development Corporation Limited. She has attended both board meetings (100%) held during FY26 since her appointment. She is not liable to retire by rotation. For the period 1 May 2026 to 31 March 2027, she will be paid ~Rs. 3.7 mn as prescribed by Government of Gujarat. The company has not disclosed the terms of her remuneration structure for the remaining period; however, we understand that remuneration levels in state PSUs are not high. While not required under the regulations, we expect the company to seek shareholders’ approval within three months of the board appointment. We raise concern that she holds executive positions in two listed companies. Therefore, her ability to devote sufficient time to two separate entities is unclear. Given her dual executive responsibilities, we do not support her appointment.
    5 for2 against
  • To approve appointment of Shri Ashwini Kumar, IAS (DIN: 06581753) as a Director of the Company, liable to retire by rotation
    7 for0 against
  • To approve re-appointment of Prof. Yogesh Singh (DIN: 06600055) as an Independent Director of the Company for a 2nd Term of 3 consecutive years
    Against DSP Mutual Fund, HSBC Mutual Fund, Sundaram Mutual Fund
    • DSP Mutual FundYogesh Singh, 60, is the Vice Chancellor, University of Delhi. Previously, he served as Director, Netaji Subhas Institute of Technology, Delhi, and Vice Chancellor, Maharaja Sayajirao University of Baroda. He has been on the board since 15 August 2021. He has attended two of the five board meetings (40%) held during FY26 and 11 out of 15 board meetings (73%) held in previous three years. Further, we raise concern that he also previously served as Independent Director of Gujarat State Petronet Limited, former promoter entity, from 20 May 2013 to 25 September 2024 and consequently his association with the group has crossed ten years. Given the low attendance in the past three years and in the preceding year, we do not support his reappointment as Independent Director.
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: Bhadresh Mehta and Yogesh Singh are proposed to be re-appointed as an Independent Director of the company and have been re-classified as non-independent on account of their prolonged association with the company's erstwhile holding company.
    • Sundaram Mutual FundYogesh Singh, 60, is the Vice Chancellor, University of Delhi. Previously, he served as Director, Netaji Subhas Institute of Technology, Delhi, and Vice Chancellor, Maharaja Sayajirao University of Baroda. He has been on the board since 15 August 2021. He has attended two of the five board meetings (40%) held during FY26 and 11 out of 15 board meetings (73%) held in previous three years. Further, we raise concern that he also previously served as Independent Director of Gujarat State Petronet Limited, former promoter entity, from 20 May 2013 to 25 September 2024 and consequently his association with the group has crossed ten years. Given the long association with the group, and low attendance in the past three years, we do not support his reappointment as Independent Director.
    4 for3 against
  • To approve re-appointment of Shri Bhadresh Mehta (DIN: 02625115) as an Independent Director of the Company for a 2nd Term of 3 consecutive years
    Against HSBC Mutual Fund, Sundaram Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: Bhadresh Mehta and Yogesh Singh are proposed to be re-appointed as an Independent Director of the company and have been re-classified as non-independent on account of their prolonged association with the company's erstwhile holding company.
    • Sundaram Mutual FundBhadresh Mehta, 66, is a Chartered Accountant, Company Secretary and Cost Accountant. He has experience across strategic planning, financial management, auditing, information technology and risk management. He has been on the board since 15 August 2021. He has attended all five board meetings (100%) held during FY26. However, we raise concern that he also previously served as Independent Director of Gujarat State Petronet Limited, former promoter entity, from 23 October 2015 to 22 October 2025 and consequently his association with the group has crossed ten years. Given the long association with the group, we do not support his reappointment as Independent Director.
    5 for2 against
  • To approve continuation of Directorship of Shri Balwant Singh, IAS (Retd.) (DIN: 00023872) beyond age of 75 years attaining during 1st term of appointment.
    3 for0 against
  • To approve re-appointment of Shri Balwant Singh, IAS (Retd.) (DIN: 00023872) as an Independent Director of the Company for a 2nd Term of 3 consecutive years and to approve continuation of his directorship after attainment of 75 years of ageMoreLess
    Against HSBC Mutual Fund
    • HSBC Mutual FundWe are voting against the Nomination Committee Chair as the level of board independence falls below our expectation
    5 for1 against
  • To approve re-appointment of Dr. Rekha Jain (DIN: 01586688) as an Independent Woman Director of the Company for a 2nd Term of 3 consecutive years and to approve continuation of her directorship after attainment of 75 years of ageMoreLess
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundMs. (Dr). Rekha Jain, 71, is a freelance Strategic IT/Telecom Policy Consultant. She has over 37 years of experience in information technology, payments and settlements systems, business management and risk management. She was professor at IIM Ahmedabad from 1985 to 2019. She has attended all five board meetings (100%) held during FY26. However, we raise concern that she previously served as Director of Guj Info Petro Limited, a subsidiary company, from 22 September 2016 to 7 March 2024 and consequently her association with the group has crossed ten years. The company also seeks approval for her continuation post attaining 75 years of age, as required under amendments to SEBI’s LODR. We do not consider age to be a criterion for board appointment. Notwithstanding the continuation, given her long association with the group, we do not support her reappointment as Independent Director.
    6 for1 against
4 proposals not matched to one resolution
  • 6) Approve continuation of Balwant Singh (DIN: 00023872) as Independent Director, who will complete 75 years of age on 6 December 2026
    1 for0 against
  • Approve continuation of Balwant Singh (DIN: 00023872) as Independent Director, who will complete 75 years of age on 6 December 2026
    2 for0 against
  • Approve Continuation of Directorship of Balwant Singh as Independent Director
    Against HSBC Mutual Fund
    • HSBC Mutual FundWe are voting against the Nomination Committee Chair as the level of board independence falls below our expectation.
    0 for1 against
  • Reappoint Balwant Singh (DIN: 00023872) as Independent Director for three years from 20 April 2027 and approve continuation of directorship post attaining age of 75 years
    1 for0 against
6 earlier meetings

Mutual fund votes, meeting of 17 Oct 2025, 22 fund houses

  • 1) Approve scheme of arrangement for amalgamation of Gujarat State Petroleum Corporation Ltd (GSPC), Gujarat State Petronet Ltd (GSPL) and GSPC Energy Limited (GEL) with Gujarat Gas Ltd (GGL) and demerger of gas transmission business undertaking into GSPL Transmission Ltd (GTL).MoreLess
    1 for0 against
  • Approve scheme of arrangement for amalgamation of Gujarat State Petroleum Corporation Ltd (GSPC), Gujarat State Petronet Ltd (GSPL) and GSPC Energy Limited (GEL) with Gujarat Gas Ltd (GGL) and demerger of gas transmission business undertaking into GSPL Transmission Ltd (GTL)MoreLess
    4 for0 against
  • Scheme of Amalgamation and Arrangement amongst Gujarat State Petroleum Corporation Limited (Transferor Company 1), Gujarat State Petronet Limited (Transferor Company 2), GSPC Energy Limited (Transferor Company 3), Gujarat Gas Limited (Transferee / Demerged Company) and GSPL Transmission Limited (Resulting Company) and their respective shareholders under sections 230 to 232 and other applicable provisions of the 2013 Act and rules made thereunder (Scheme).MoreLess
    17 for0 against

Mutual fund votes, meeting of 25 Sep 2025, 22 fund houses

  • 1) Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2025 and the Reports of the Directors and Auditors thereon and Comments of the Comptroller & Auditor General of India.MoreLess
    1 for0 against
  • 2) Approve final dividend of Rs. 5.82 per equity share (face value Rs. 2.0) for FY25.
    1 for0 against
  • 3) Reappoint S. J. Haider (DIN: 02879522) as Non-Executive Non-Independent Director (Nominee of Government of Gujarat), liable to retire by rotation.
    1 for0 against
  • 4) Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY26.
    1 for0 against
  • 5) Appoint Pankaj Joshi (DIN: 01532892) as Chairperson and Non-Executive Non-Independent Director (Nominee of Government of Gujarat) from 7 February 2025, liable to retire by rotation.
    1 for0 against
  • 6) Appoint K K Patel & Associates as secretarial auditors for five years from 1 April 2025 and fix their remuneration.
    1 for0 against
  • 7) Ratify remuneration of Rs. 118,000 payable to Kailash Sankhlecha & Associates, as cost auditor for FY26.
    1 for0 against
  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2025
    4 for0 against
  • Appoint K K Patel & Associates as secretarial auditors for five years from 1 April 2025 and fix their remuneration
    4 for0 against
  • Appoint Pankaj Joshi (DIN: 01532892) as Chairperson and Non-Executive Non-Independent Director (Nominee of Government of Gujarat) from 7 February 2025, liable to retire by rotation
    4 for0 against
  • Appointment of Shri Pankaj Joshi, IAS, (DIN: 01532892) as a Director and Chairman of the Company till further orders by Government of Gujarat in this regard, who shall be liable to retire by rotation.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Director holds 2 Full-Time positions as Managing Director - Gujarat State Petronet Limited and Chief Secretary at Government of Gujarat. Delayed Approval of shareholders.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of Director. Governance Concern: Director holds 2 Full-Time positions as Managing Director - Gujarat State Petronet Limited and Chief Secretary at Government of Gujarat. Delayed Approval of shareholders
    11 for6 against
  • Approve final dividend of Rs. 5.82 per equity share (face value Rs. 2.0) for FY25
    4 for0 against
  • Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY26
    4 for0 against
  • Ratification of remuneration of Rs. 1,18,000/- plus applicable taxes and reimbursement of Out of Pocket Expenses incurred by them during the course of Audit payable to M/s. Kailash Sankhlecha and Associates, Cost Accountants, (Firm Registration No. 100221), as the Cost Auditor of the Company, for conducting the audit of the cost records maintained by the Company for the Financial Year 2025 - 26.MoreLess
    17 for0 against
  • Ratify remuneration of Rs. 118,000 payable to Kailash Sankhlecha & Associates, as cost auditor for FY26
    4 for0 against
  • Reappoint S. J. Haider (DIN: 02879522) as Non-Executive Non-Independent Director (Nominee of Government of Gujarat), liable to retire by rotation
    4 for0 against
  • To appoint M/s K K Patel and Associates (Firm Registration No. S2004GJ071900, PR Certificate No.: 1636/2021), Practicing Company Secretaries as the Secretarial Auditor of the Company for a period of five (5) consecutive years commencing from 1st April, 2025 upto 31st March, 2030 to conduct Secretarial Audit of the Company and to furnish the Secretarial Audit Report, on such remuneration as may be mutually agreed between the Company and the Secretarial Auditor.MoreLess
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundProposed audit fee payable to Secretarial Auditors not disclosed by the Company in the Notice.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on merit of proposed secretarial auditors. Non-Compliant with Regulation 36(5) of SEBI (LODR), 2015: Proposed audit fee payable to Secretarial Auditors not disclosed by the Company in the Notice
    • Kotak Mahindra Mutual FundCompany has not disclosed the auditors fees for secretarial auditors. As company has not fulfilled the regulatory requirements, we do not favour the resolution.
    10 for7 against
  • To authorise the Board of Directors of the Company to fix remuneration of Statutory Auditors of the Company for Financial Year 2025 - 26.
    17 for0 against
  • To declare Dividend on Equity Shares for the Financial Year 2024 - 25.
    17 for0 against
  • To re-appoint Shri S. J. Haider, IAS, (DIN: 02879522), who retires by rotation and being eligible offers himself for reappointment.
    17 for0 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended 31st March, 2025 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller and Auditor General of India.MoreLess
    17 for0 against

Mutual fund votes, meeting of 26 Sep 2024, 21 fund houses

  • 1) Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2024 and the Reports of the Directors and Auditors and Comments of the Comptroller & Auditor General of India thereon.MoreLess
    1 for0 against
  • 2) Confirm final dividend Rs. 5.66 per share (face value Rs. 2.0) for FY24.
    1 for0 against
  • 3) Reappoint Raj Kumar (DIN: 00294527) as Non-Executive Non-Independent Director, liable to retire by rotation.
    1 for0 against
  • 4) Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY25.
    1 for0 against
  • 5) Appoint S. J. Haider (DIN: 02879522) as Non-Executive Non-Independent Director (Nominee of Government of Gujarat) from 13 August 2024, liable to retire by rotation.
    1 for0 against
  • 6) Ratify remuneration of Rs. 118,000 payable to Kailash Sankhlecha & Associates, as cost auditor for FY25.
    1 for0 against
  • 7) Appoint Dr. T. Natarajan (DIN: 00396367) as Non-Executive Non-Independent Director (Nominee of Government of Gujarat) from 11 September 2024, liable to retire by rotation.
    1 for0 against
  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2024
    3 for0 against
  • Appoint Dr. T. Natarajan (DIN: 00396367) as Non-Executive Non-Independent Director (Nominee of Government of Gujarat) from 11 September 2024, liable to retire by rotation
    3 for0 against
  • Appoint S. J. Haider (DIN: 02879522) as Non-Executive Non-Independent Director (Nominee of Government of Gujarat) from 13 August 2024, liable to retire by rotation
    3 for0 against
  • Appointment of Dr. T Natarajan, IAS as Director liable to retire by rotation.
    15 for0 against
  • Appointment of Shri S. J. Haider, IAS, (DIN: 02879522) as a Director of the Company till further orders by Government of Gujarat in this regard, who shall be liable to retire by rotation.
    15 for0 against
  • Approve Dividend
    1 for0 against
  • Approve Remuneration of Cost Auditors
    1 for0 against
  • Authorize Board to Fix Remuneration of Auditors
    1 for0 against
  • Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY25
    3 for0 against
  • Confirm final dividend Rs. 5.66 per share (face value Rs. 2.0) for FY24
    3 for0 against
  • Elect S. J. Haider as Director
    1 for0 against
  • Elect T Natarajan as Director
    1 for0 against
  • Ratification of remuneration of Rs. 1,18,000/- plus applicable taxes and reimbursement of Out of Pocket Expenses payable to M/s. Kailash Sankhlecha and Associates, Cost Accountants, (firm registration No. 100221) the Cost Auditors of the Company, (whose appointment and remuneration has been recommended by the Audit Committee and approved by the Board of Directors), for conducting the audit of the cost records maintained by the Company for the Financial Year 2024 - 25.MoreLess
    15 for0 against
  • Ratify remuneration of Rs. 118,000 payable to Kailash Sankhlecha & Associates, as cost auditor for FY25
    3 for0 against
  • Reappoint Raj Kumar (DIN: 00294527) as Non-Executive Non-Independent Director, liable to retire by rotation
    3 for0 against
  • Reelect Raj Kumar as Director
    1 for0 against
  • To approve, appointmnet of Shri S. J. Haider, IAS,(DIN: 02879522) who was appointed as an Additional Director.
    1 for0 against
  • To approve, Ratification of Remuneration of Cost Auditors of the company for the year 2024-25.
    1 for0 against
  • To approve, re-appointment of Shri Raj Kumar, IAS, (DIN: 00294527), who retires by rotation and being eligible offers himself for re-appointment.
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundDirector holds 2 Full-Time positions.
    0 for1 against
  • To authorise the Board of Directors of the Company to fix remuneration of Statutory Auditors of the Company for Financial Year 2024 - 25, in terms of the provisions of Section 142 of Companies Act, 2013.MoreLess
    16 for0 against
  • To consider and approve appointment of Dr. T Natarajan, IAS [DIN: 00396367], as Director liable to retire by rotation.
    1 for0 against
  • To declare Dividend on equity shares for the Financial Year 2023 - 24.
    16 for0 against
  • To re-appoint Shri Raj Kumar, IAS, (DIN: 00294527), who retires by rotation and being eligible offers himself for re-appointment.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on merit of Director. Governance Concern: Director holds 2 Full-Time positions.
    11 for4 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended 31st March, 2024 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller and Auditor General of India.MoreLess
    15 for0 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the Financial st Year ended 31 March, 2024 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller & Auditor General of India.MoreLess
    1 for0 against

Mutual fund votes, meeting of 29 Sep 2023, 19 fund houses

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundMilind Torawane, 50, is an IAS Officer. He is the Managing Director of Gujarat State Petroleum Corp Ltd and Gujarat Gas Ltd and Joint MD of Gujarat State Petronet Ltd (GSPL). In the past, he has been Commissioner of Rural Development and Secretary to Government (Rural Department), Panchayats, Rural Housing and Rural Development Department. He has worked in the Finance Department of the Government of Gujarat, as the Secretary (Expenditure) and as the Secretary (Economic Affairs). He will not draw any remuneration from the company. The company has not disclosed his tenure of appointment: we expect public sector enterprises to disclose the proposed appointment terms through the meeting notice. While he is not liable to retire by rotation as long as he holds the position of MD, his reappointment as MD will require periodic shareholder approval.We raise concern that he holds three executive positions, including two listed entities (Gujarat Gas Limited and GSPL). Therefore, his ability to devote sufficient time to three separate entities is unclear. We note that Milind Torawane’s appointment as Joint MD of GSPL received significant shareholder pushback: 64.43% institutional shareholders voted against his appointment. Given his excessive executive responsibilities, we do not support his appointment.Further, while not required under the regulations, we expect the company to seek shareholders’ approval within three months of the board appointment.
    0 for1 against
  • Item 8, as a fund house numbered it
    1 for0 against
  • 1) Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2023 and the Reports of the Directors and Auditors thereon and comments of the Comptroller and Auditor General of India.MoreLess
    1 for0 against
  • 2) To declare Dividend on equity shares for FY23.
    1 for0 against
  • 3) Reappoint Raj Kumar (DIN: 00294527) as Director, liable to retire by rotation.
    1 for0 against
  • 4) Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY24.
    1 for0 against
  • 5) Appoint Jagdish Prasad Gupta (DIN: 01952821) as Director from 9 August 2023, liable to retire by rotation.
    1 for0 against
  • 6) Appoint Ms. Mamta Verma (DIN: 01854315) as Director from 1 May 2023, liable to retire by rotation.
    1 for0 against
  • 7) Reappoint Milind Torawane (DIN:03632394) as Managing Director from 13 April 2023 until further orders by the Government of Gujarat, not liable to retire by rotation.
    1 for0 against
  • 8) Ratify remuneration of Rs. 118,000 payable to Kailash Sankhlecha & Associates, as cost auditor for FY24.
    1 for0 against
  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2023
    2 for0 against
  • Appoint Jagdish Prasad Gupta (DIN: 01952821) as Non-Executive Non-Independent Director from 9 August 2023, liable to retire by rotation
    2 for0 against
  • Appoint Ms. Mamta Verma (DIN: 01854315) as Non-Executive Non-Independent Director from 1 May 2023, liable to retire by rotation
    2 for0 against
  • Appointment of Shri J.P. Gupta, IAS, (DIN: 01952821) as a Director of the Company till further orders by Government of Gujarat who shall be liable to retire by rotation.
    Against JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund
    • JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundNon-Compliant with Section 165(1) of Companies Act: Director holds more than 10 Public Directorships. Governance Concern: 2 full- time positions in unrelated business.
    • Kotak Mahindra Mutual FundJagdish Prasad Gupta, 58, is an IAS Officer of the 1991 batch. Currently, he is Additional Chief Secretary, Finance Department, Government of Gujarat. He has held various positions in Government of Gujarat including Commissioner at Health & Medical Edu Dept., Commissioner of Health at Health & Family Welfare Dept., Mission Director at State Rural Health Mission, Commissioner at Transport Dept. Gandhinagar, Special Commissioner at Finance Dept. Commercial Taxes Ahmedabad, etc. He is being appointed on the board as Nominee of the Government of Gujarat. He is a director on the boards of ten companies in aggregate. Since, appointment of Mr. J P Gupta will exceed the limit of 10 public directorships, it will result in non-compliance of the aforesaid provision. Hence voting against .
    • Nippon India Mutual FundHolding two full time positions
    8 for5 against
  • Appointment of Shri Milind Torawane, IAS, (DIN: 03632394) as Managing Director of the Company, till further orders by Government of Gujarat who shall not be liable to retire by rotation so long as he holds the position of Managing Director.MoreLess
    Against Axis Mutual Fund, Bandhan Mutual Fund, JM Financial Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund
    • Axis Mutual FundMilind Torawane, 50, is an IAS Officer. He is the Managing Director of Gujarat State Petroleum Corp Ltd and Gujarat Gas Ltd and Joint MD of Gujarat State Petronet Ltd (GSPL). In the past, he has been Commissioner of Rural Development and Secretary to Government (Rural Department), Panchayats, Rural Housing and Rural Development Department. He has worked in the Finance Department of the Government of Gujarat, as the Secretary (Expenditure) and as the Secretary (Economic Affairs). He will not draw any remuneration from the company. The company has not disclosed his tenure of appointment: we expect public sector enterprises to disclose the proposed appointment terms through the meeting notice. While he is not liable to retire by rotation as long as he holds the position of MD, his reappointment as MD will require periodic shareholder approval. We raise concern that he holds three executive positions, including two listed entities (Gujarat Gas Limited and GSPL). Therefore, his ability to devote sufficient time to three separate entities is unclear. We note that Milind Torawane’s appointment as Joint MD of GSPL received significant shareholder pushback: 64.43% institutional shareholders voted against his appointment. Given his excessive executive responsibilities, we do not support his appointment. Further, while not required under the regulations, we expect the company to seek shareholders’ approval within three months of the board appointment.
    • Bandhan Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Director holds more than 2 Full-time positions; Delayed shareholders’ approval.
    • Mahindra Manulife Mutual FundMilind Torawane, 50, is an IAS Officer. He is the Managing Director of Gujarat State Petroleum Corp Ltd and Gujarat Gas Ltd and Joint MD of Gujarat State Petronet Ltd (GSPL). In the past, he has been Commissioner of Rural Development and Secretary to Government (Rural Department), Panchayats, Rural Housing and Rural Development Department. He has worked in the Finance Department of the Government of Gujarat, as the Secretary (Expenditure) and as the Secretary (Economic Affairs). We raise concern that he holds three executive positions, including two listed entities (Gujarat Gas Limited and GSPL). Therefore, his ability to devote sufficient time to three separate entities is unclear. We note that Milind Torawane’s appointment as Joint MD of GSPL received significant shareholder pushback: 64.43% institutional shareholders voted against his appointment. Given his excessive executive responsibilities, we do not support his appointment.
    • Mirae Asset Mutual FundIn line with advisor recommendation (passive holding)
    • Nippon India Mutual FundHolding two full time positions
    • PGIM India Mutual FundCompliant with law. Governance concern: Director holds more than 2 Full-time positions; Delayed shareholders approval.
    5 for8 against
  • Appointment of Smt. Mamta Verma, IAS, (DIN: 01854315) as a Director of the Company till further orders by Government of Gujarat who shall be liable to retire by rotation.
    Against JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund
    • JM Financial Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with Section 165(1) of Companies Act: Director holds more than 10 Public Directorships. Governance Concern: Delayed shareholders’ approval for appointment.
    • Kotak Mahindra Mutual FundMs. Mamta Verma, 51, is an IAS officer. Currently, she is Principal Secretary to the Government of Gujarat in the Energy & Petrochemicals Department. She has held various positions in Government of Gujarat as Collector, District Development Officer, Additional Industries Commissioner, CEO of Ahmedabad Urban Development Authority and Special Commissioner, Commercial Taxes, Director, Municipal Administrator, CEO of Gujarat Urban Development Corporation, Secretary to Government, Industries and Mines Department. She is being appointed on the board as Nominee of the Government of Gujarat. She is a director on the boards of ten companies in aggregate. Since, appointment of Ms. Mamta Verma will exceed the limit of 10 public directorships, it will result in non-compliance of the aforesaid provision. Hence voting against .
    • Nippon India Mutual FundShareholder's approval not obtained on time for appointment of director
    • PGIM India Mutual FundNon-Compliant with Section 165(1) of Companies Act: Director holds more than 10 Public Directorships. Governance Concern: Delayed shareholders approval for appointment.
    8 for5 against
  • Approve Dividend
    1 for0 against
  • Approve Remuneration of Cost Auditors
    1 for0 against
  • Authorize Board to Fix Remuneration of Auditors
    1 for0 against
  • Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY24
    2 for0 against
  • Confirm final dividend Rs. 6.65 per share (face value Rs. 2.0) for FY23
    2 for0 against
  • Elect J.P. Gupta as Director
    1 for0 against
  • Elect Mamta Verma as Director
    1 for0 against
  • Elect Milind Torawane as Director
    1 for0 against
  • Ratification of remuneration Rs. 118000/- GST and out of pocket expenses payable to M/s. Kailash Sankhlecha & Associates, Cost Accountants, (firm registration No. 100221) the Cost Auditors of the Company for conducting the audit of the cost records maintained by the Company for the Financial Year 2023-24.MoreLess
    13 for0 against
  • Ratify remuneration of Rs. 118,000 payable to Kailash Sankhlecha & Associates, as cost auditor for FY24
    2 for0 against
  • Reappoint Milind Torawane (DIN:03632394) as Managing Director from 13 April 2023 until further orders by the Government of Gujarat, not liable to retire by rotation
    2 for0 against
  • Reappoint Raj Kumar (DIN: 00294527) as Non-Executive Non-Independent Director, liable to retire by rotation
    2 for0 against
  • Reelect Raj Kumar as Director
    Against HSBC Mutual Fund
    • HSBC Mutual FundWe have concerns about the director's attendance at board meetings.
    0 for1 against
  • To approve, Appointment of Shri J.P. Gupta, IAS as Director liable to retire by rotation.
    1 for0 against
  • To approve, Appointment of Shri. Milind Torawane, IAS as Managing Director.
    1 for0 against
  • To approve, Appointment of Smt. Mamta Verma, IAS as Director liable to retire by rotation.
    1 for0 against
  • To approve, fix remuneration of Statutory Auditors of the Company for Financial Year 2023 -24, in terms of the provisions of Section 142 of Companies Act, 2013.
    1 for0 against
  • To approve, Ratification of remuneration of Cost Auditors for FY 2023-24.
    1 for0 against
  • To approve, Re-appointment of Shri. Raj Kumar, IAS, (DIN: 00294527), who retires by rotation as a Director.
    1 for0 against
  • To authorise the Board of Directors of the Company to fix remuneration of Statutory Auditors of the Company for Financial Year 2023 -24, in terms of the provisions of Section 142 of Companies Act, 2013.MoreLess
    13 for0 against
  • To declare Dividend on equity shares for the Financial Year 2022-23.
    14 for0 against
  • To re-appoint Shri. Raj Kumar, IAS, (DIN: 00294527), who retires by rotation and being eligible offers himself for re-appointment.
    Against JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund
    • JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundCompliant with law. Governance Concern: Director holds 2 Full-Time positions in unrelated businesses.
    10 for3 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended 31st March, 2023 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller & Auditor General of India.MoreLess
    13 for0 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the Financial Year ended 31st March, 2023 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller & Auditor General of India.MoreLess
    1 for0 against

Mutual fund votes, meeting of 29 Aug 2022, 20 fund houses

  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2022
    3 for0 against
  • Appoint Raj Kumar (DIN:00294527) as Non-Executive Non-Independent Director, liable to retire by rotation from 21 July 2022
    3 for0 against
  • APPOINTMENT OF SHRI RAJ KUMAR, IAS AS DIRECTOR LIABLE TO RETIRE BY ROTATION.
    2 for0 against
  • Appointment of Shri Raj Kumar IAS DIN 00294527 as a Director of the Company
    1 for0 against
  • Appointment of Shri. Raj Kumar, IAS, (DIN: 00294527) as a Director of the Company till further orders by Government of Gujarat in this regard, who shall be liable to retire by rotation.
    13 for0 against
  • Authorize the board to fix remuneration of joint statutory auditors appointed by the Comptroller and Auditor General of India for FY23
    3 for0 against
  • Confirm final dividend Rs.2.0 per share (face value Rs. 2.0) for FY22
    3 for0 against
  • RATIFICATION OF REMUNERATION OF COST AUDITORS FOR FY 2022-23.
    2 for0 against
  • Ratification of remuneration of Re s. 1,30,000/- GST and out of pocket expenses payable to M/s. Ashish Bhavsar & Associates, Cost Accountants, (firm registration No. 000387) as the Cost Auditors of the Company, for the Financial Year 2022-23.MoreLess
    1 for0 against
  • Ratification of remuneration of Rs. 1,30,000/- GST and out of pocket expenses payable to M/s. Ashish Bhavsar & Associates, Cost Accountants, (firm registration No. 000387) as the Cost Auditors of the Company, for the Financial Year 2022-23.MoreLess
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with law. No concern over the merits of the auditors. Governance concern: Cost Audit fee significantly lower than the minimum suggested fee by ICAI. Scope of the turnover subject to Cost Audit not disclosed
    11 for1 against
  • Ratify remuneration of Rs. 130,000 payable to Ashish Bhavsar & Associates, as cost auditor for FY23
    3 for0 against
  • Reappoint Milind Torwane (DIN:03632394) as Non-Executive Non-Independent Director, liable to retire by rotation
    3 for0 against
  • Remuneration payable to Ms Ashish Bhavsar and Associates Cost Accountants firm registration No 000387 Cost Auditors of the Company for the Financial Year 202223
    1 for0 against
  • To approve, appointmnet of Shri. Raj Kumar, IAS, (DIN: 00294527) who was appointed as an Additional Director, shall be liable to retire by rotation.
    1 for0 against
  • To approve, Ratification of Remuneration of Cost Auditors of the company for the year 2022-23.
    1 for0 against
  • To approve, re-appointment of Shri. Milind Torawane, IAS, (DIN: 03632394), who retires by rotation and being eligible offers himself for re-appointment.
    1 for0 against
  • To authorise the Board of Directors of the Company to fix remuneration of Re tatutory Auditors of the Company for Financial Year 2022 -23, in terms of the provisions of Section 142 of Companies Act, 2013.MoreLess
    1 for0 against
  • To authorise the Board of Directors of the Company to fix remuneration of Statutory Auditors of the Company for Financial Year 2022 -23, in terms of the provisions of Section 142 of Companies Act, 2013.MoreLess
    16 for0 against
  • To declare Dividend on equity shares for the Financial Year 2021-22.
    16 for0 against
  • To declare Dividend on equity shares for the Financial Year 202122
    1 for0 against
  • To re-appoint Shri. Milind Torawane, IAS, (DIN: 03632394), who retires by rotation and being eligible offers himself for re-appointment.
    13 for0 against
  • TO RE-APPOINT SHRI. MILIND TORAWANE, IAS, (DIN: 03632394), WHO RETIRES BY ROTATION AND BEING ELIGIBLE OFFERS HIMSELF FOR REAPPOINTMENT.
    2 for0 against
  • To reappoint Shri Milind Torawane IAS DIN 03632394 who retires by rotation and being eligible offers himself for reappointment
    1 for0 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended 31/03/2022 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller and Auditor General of IndiaMoreLess
    1 for0 against
  • To receive consider and adopt the Audited Financial Statements Standalone and Consolidated of the Company for the Financial Year ended 31st March 2022 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller and Auditor General of IndiaMoreLess
    1 for0 against
  • TO RECEIVE, CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS (STANDALONE & CONSOLIDATED) OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31/03/2022 AND THE REPORTS OF THE BOARD OF DIRECTORS TOGETHER WITH THE REPORTS OF STATUTORY AUDITORS AND COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA.MoreLess
    1 for0 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the Financial Year ended 31st March, 2022 and the Reports of the Board of Directors together with the Reports of Statutory Auditors and Comments of the Comptroller & Auditor General of India.MoreLess
    14 for0 against

Mutual fund votes, meeting of 15 Jul 2022, 18 fund houses

  • Appoint Balwant Singh (DIN:00023872) as an Independent Director for five years from 20 April 2022
    2 for0 against
  • Appoint Dr. Rekha Jain (DIN:01586688) as an Independent Director for five years from 20 April 2022
    2 for0 against
  • Approve appointment of Dr. Rekha Jain as an Independent Woman Director
    1 for0 against
  • Approve appointment of Shri Balwant Singh, IAS (Retd.) as an Independent Director
    1 for0 against
  • TO APPROVE APPOINTMENT OF DR. REKHA JAIN (DIN 01586688) AS AN INDEPENDENT WOMAN DIRECTOR OF COMPANY FOR A PERIOD OF FIVE YEARS W.E.F. 20 APRIL, 2022.
    1 for0 against
  • To approve appointment of Dr. Rekha Jain [DIN: 01586688] as an Independent Woman Director of the Company for a period of five years w.e.f. 20th April, 2022
    2 for0 against
  • To approve appointment of Dr. Rekha Jain [DIN: 01586688] as an Independent Woman Director of the Company for a period of five years w.e.f. 20th April, 2022 whose term of office shall not be liable to retirement by rotation.MoreLess
    11 for0 against
  • To approve, appointment of Dr. Rekha Jain [DIN: 015866881] as an Independent Woman Director to hold office for the first term of 5 years and shall not be liable to retirement by rotation.
    1 for0 against
  • TO APPROVE APPOINTMENT OF SHRI BALWANT SINGH, IAS (RETD.) (DIN 00023872) AS AN INDEPENDENT DIRECTOR OF COMPANY FOR A PERIOD OF FIVE YEARS W.E.F. 20 APRIL, 2022.
    1 for0 against
  • TO APPROVE APPOINTMENT OF SHRI BALWANT SINGH, IAS (RETD.) [DIN: 00023872] AS AN INDEPENDENT DIRECTOR OF THE COMPANY FOR A PERIOD OF FIVE YEARS W.E.F. 20TH APRIL, 2022.
    2 for0 against
  • To approve appointment of Shri Balwant Singh, IAS (Retd.) (DIN: 00023872) as an Independent Director of the Company to hold office for the first term of 5 years w.e.f. 20th April, 2022 whose term of office shall not be liable to retirement by rotation.MoreLess
    11 for0 against
  • To approve, appointment of Shri Balwant Singh, IAS (Retd.) [DIN: 000238721] as an Independent Director of the Company to hold office for the first term of 5 years and shall not be liable to retirement by rotation.MoreLess
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtGSPC LNG LimitedSince 1 May 2026

    30.97% bought in the quarter; holding 36.80%, from 5.83%

  • Unlisted stake boughtGuj Info Petro LimitedSince 1 May 2026

    50.06% bought in the quarter; holding 100.00%, from 49.94%

  • Unlisted stake boughtGujarat State Energy Generation LimitedSince 1 May 2026

    65.45% bought in the quarter; holding 65.45%, from 0.00%

  • Unlisted stake boughtGSPC Pipavav Power Company LimitedSince 1 May 2026

    97.47% bought in the quarter; holding 97.47%, from 0.00%

  • Unlisted stake boughtGSPC (JPDA) LimitedSince 1 May 2026

    100.00% bought in the quarter; holding 100.00%, from 0.00%

  • Unlisted stake boughtSabarmati Gas LimitedSince 1 May 2026

    49.94% bought in the quarter; holding 49.94%, from 0.00%

  • Unlisted stake boughtAlcock Ashdown (Gujarat) LimitedSince 1 May 2026

    22.55% bought in the quarter; holding 22.55%, from 0.00%

  • Unlisted stake boughtSwan LNG Private LimitedSince 1 May 2026

    11.00% bought in the quarter; holding 11.00%, from 0.00%

1 more
  • Unlisted stake boughtONGC Petro Additions LimitedSince 1 May 2026

    0.12% bought in the quarter; holding 0.12%, from 0.00%

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.