Gandhar Oil Refinery (India) Ltd

Dematerialisation processing and listing status

• Dematerialisation requests received were confirmed to depositories (accepted/rejected) and the securities listed on exchanges.
• Security certificates received for dematerialisation were mutilated and cancelled after due verification.
• The registered owner was updated to the depository in the records within timelines.

Rating Action & Ratings

• Long-term rating: Crisil A+/Stable; reaffirmed.
• Short-term rating: Crisil A1; reaffirmed.
• Total bank facilities rated: ₹1014 crore, up from ₹300 crore.
• Ratings under continuous surveillance; no change in outlook stated.
• Letter valid until 07-Jul-2027; fresh rating letter if not availed within 180 days.

Instruments & Ratings

• Cash Credit ratings: A+/Stable.
• Bank Guarantees: A1; Letters of Credit: A1; Working Capital Facilities: A1.
• Total rated facilities ₹1,014 crore.

Agency & Outlook

• Agency: CRISIL Ratings Limited.
• Outlook: Stable for long-term rating.
• Surveillance ongoing; rating letter valid until July 7, 2027.

Material changes

• Facility enhancement from ₹300 crore to ₹1014 crore.

Litigation Update

• Court acquitted the accused under Section 256 CrPC due to repeated absence of the complainant and no adjournment.
• No compensation or monetary liability has been imposed on the Company.
• Dispute relates to 2014 complaint under Sections 138 and 141 NI Act for Rs 3,00,00,000.
• Order dated September 23, 2026, by Nashik Court Chief Judicial Magistrate.

Gandhar Oil Refinery (India) Limited — Trading Window closed from October 01, 2026 until 48 hours after declaration of Un-audited Financial Results for the quarter and half year ended September 30, 2026

Meeting Details

• Date & time: 28 September 2026, 01:00 PM onwards.
• Mode: Virtual; Type: Group meeting.
• Conference: Arihant Capital Bharat Connect Conference.
• Participants: Company management representatives.
• Purpose: Analyst/Investor conference call.

AGM Details

• Date and time: 11 Sep 2026, 11:00–11:45 AM, via VC/OAVM.
• Record date: 04 Sep 2026.

Key Resolutions

• Adopt standalone financial statements for year ended 31 March 2026.
• Adopt consolidated financial statements for year ended 31 March 2026.
• Re-appoint Ramesh Babulal Parekh by rotation (DIN 01108443).
• Ratify remuneration payable to Cost Auditor for FY 2026-27.
• Appoint independent director for five-year term from 22 Jul 2026 to 21 Jul 2031.
• Alter object clause of the Memorandum of Association (MOA).

Voting Results

• All resolutions passed with overwhelming support; one abstention.
• Total votes polled approximately 60% of shares; near-unanimous in-favour.

Dividend

• Dividend: no dividend declared or proposed.

Director Changes

• Ramesh Babulal Parekh re-appointed by rotation.
• Independent director appointed for five-year term.

Auditor Appointments

• Remuneration for Cost Auditor ratified for FY 2026-27.

Material Related Party Transactions

• No material related party transactions approved.

Other Material Approvals

• MOA object clause alteration approved.

AGM details

• AGM date/time/mode: Sep 11, 2026, 11:00–11:45 IST, via VC/OAVM.
• E-voting window: 15 minutes post-meeting; voting conducted electronically.
• Notice dated July 22, 2026 circulated to members.

Resolutions

• Resolution 1 (Ordinary): Adopt standalone financial statements and related reports.
• Resolution 2 (Ordinary): Adopt consolidated financial statements and related reports.
• Resolution 3 (Ordinary): Re-appoint Ramesh Parekh by rotation.
• Resolution 4 (Ordinary): Ratify remuneration to Cost Auditor for FY 2026-27.
• Resolution 5 (Special): Appoint Shyam Chandrabhan Agrawal as Independent Director for five years.
• Resolution 6 (Special): Alter object clause of the MOA.

Voting results

• Resolution 1: Status not disclosed in filing.
• Resolution 2: Status not disclosed.
• Resolution 3: Status not disclosed.
• Resolution 4: Status not disclosed.
• Resolution 5: Status not disclosed.
• Resolution 6: Status not disclosed.

Director changes

• Re-appointment by rotation: Mr. Ramesh Parekh.
• Independent director appointment: Mr. Shyam Chandrabhan Agrawal for five-year term.

Auditor appointments

• Cost Auditor remuneration for FY 2026-27 ratified.

Transaction details

• Target Company: Gandhar Oil Refinery (India) Ltd.
• Disclosing Party: Ramesh Babulal Parekh (Promoter/MD).
• Transaction Type: Acquisition of 31,000 equity shares.
• Pre-Transaction Holding: 2,81,58,627 shares (28.76%).
• Transaction Details: 31,000 shares acquired; 0.03% of total.
• Post-Transaction Holding: 2,81,89,627 shares (28.79%).
• Date of Transaction: 08.09.2026.
• Mode: Open Market.
• Equity share capital before: Rs 19,57,59,060; 9,78,79,530 shares.
• Equity share capital after: Rs 19,57,59,060; 9,78,79,530 shares.

Acquisition details

• Target: Gandhar Oil Refinery (India) Ltd.
• Disclosing party: Ramesh Babulal Parekh, promoter and managing director.
• Transaction type: Acquisition of 19,000 equity shares.
• Pre-transaction holding: 2,81,39,627 shares (28.74%).
• Shares acquired: 19,000 shares (0.02% of total). Mode: Open Market.
• Post-transaction holding: 2,81,58,627 shares (28.76%).
• Date of acquisition: 07.09.2026.
• Equity capital before: Rs 19,57,59,060; 9,78,79,530 shares.
• Equity capital after: Rs 19,57,59,060; 9,78,79,530 shares.
• Total diluted post-transaction: Rs 19,57,59,060; 9,78,79,530 shares.

Meeting Details

• Date & time: September 07, 2026 at 03:00 p.m. IST
• Type & mode: Group meeting, in person
• Location: Mumbai
• Organizer: Gandhar Oil Refinery (India) Ltd
• Key participants: company officials (management roles)
• Purpose: investor interactions based on publicly available information
• Transcript/recordings: available on the company's investor-relations page