Shareholders meeting

GEL/SEC/2026-27/41 September 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers The Exchange Plaza 25th Floor, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code - 532630 Scrip Code: GOKEX Dear Sir / Madam, Sub: Proceedings of the 23rd Annual General Meeting of Gokaldas Exports Limited (the “Company”) Further to our intimation dated September 05, 2026 and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015 read with Part A of Schedule III, we hereby inform that the 23rd Annual General Meeting (“AGM”) of the members of the Company was held today i.e. Monday, September 28, 2026 at 4.30 PM IST, through Video Conference / Other Audio-Visual Means ("VC/ OAVM") and the businesses as mentioned in the AGM Notice dated August 11, 2026, were transacted. In this regard, we are enclosing the following documents: 1. Proceedings of the 23rd AGM and 2. Vice Chairman & Managing Director’s speech at the AGM. The meeting commenced at 4:30 P.M.(IST) and concluded at 5:16 P.M.(IST) (including time allowed for e- voting at the AGM). The results of e-voting will be intimated separately. This is for your information and records. Thanking you, Yours truly, For Gokaldas Exports Limited Gourish Hegde Company Secretary & Compliance Officer Encl: as above PROCEEDINGS OF THE 23RD ANNUAL GENERAL MEETING OF GOKALDAS EXPORTS LIMITED HELD THROUGH VIDEO CONFERENCING/ OTHER AUDIO-VISUAL MEANS ON MONDAY, SEPTEMBER 28, 2026 The 23rd Annual General Meeting (“AGM”) of the Members of Gokaldas Exports Limited (the ‘Company’) was held today i.e. Monday, September 28, 2026 at 4.30 PM IST through video conference and other audio-visual means (“VC/OAVM”), in compliance with the General Circular No. 03/2025 dated September 22, 2025 issued by the Ministry of Corporate Affairs (“MCA”) and circular(s) issued by Securities and Exchange Board of India from time to time. The list of Directors, KMPs and invitees present at the Meeting are as under: Name Designation Mr. Mathew Cyriac Chairman & Non-Executive Director Mr. Sivaramakrishnan Ganapathi Vice Chairman & Managing Director Mr. George Varughese Independent Director Ms. Rama Bijapurkar Independent Director Ms. Pavitra Rajaram Independent Director Mr. Prabhat Kumar Singh Whole Time Director Mr. Sathyamurthy. A Chief Financial Officer Mr. Gourish Hegde Company Secretary & Compliance Officer Mr. Pankaj Bhauwala Partner, MSKA & Associates LLP, Chartered Accountants, Statutory Auditors Mr. Nagendra D. Rao Practicing Company Secretary - Scrutinizer A total of 104 members attended the meeting through VC. The meeting commenced at 4:30 PM (IST). Mr. Mathew Cyriac, Chairman of the Company, Chaired the meeting. He requested the Board members & KMPs present at the meeting to introduce themselves. Thereafter, requisite quorum being present, he called the meeting to order. Chairman then requested Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director to continue the proceedings of the meeting. Mr. Sivaramakrishnan Ganapathi informed the members that the Notice of the 23rd AGM and the Annual Report for the year ended March 31, 2026 had been sent through electronic mode to those members whose e-mail addresses had been registered with the Company or Depositories. Accordingly, the notice of the AGM was taken as read. Then he requested Mr. Gourish Hegde, Company Secretary & Compliance Officer, to provide the general guidance to the members regarding process and manner of conduct of the meeting through VC. Mr. Gourish Hegde provided the general guidance to the members regarding process and manner of conduct of the meeting through VC. He also informed that Mr. Nagendra D Rao, Practising Company Secretary, was appointed as the Scrutinizer by the Board for scrutinizing the remote e-voting and the e-voting process at the AGM in a fair and transparent manner. Thereafter Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, delivered his speech on the performance of the company. Following business items as set out in the AGM Notice were transacted at the AGM: Sl. Ordinary Business Resolution type 1. To receive, consider and adopt the Financial Statements of the Ordinary Company which include Audited standalone and consolidated Resolution Balance Sheet as at March 31, 2026, the standalone and consolidated Statement of Profit and Loss including the Statement of other Comprehensive Income and Cash Flow of the Company as on that date together with the Auditors’ Report thereon and Report of the Board of Directors. 2. To appoint Mr. Mathew Cyriac (holding DIN: 01903606), Ordinary Chairman & Non-Executive Director, who retires by rotation and Resolution being eligible, offers himself for re-appointment. The Vice Chairman thereafter, requested the Members who had earlier registered themselves as speakers to seek clarifications or raise questions. Thereafter queries were addressed by the Vice Chairman of the Company. The Vice Chairman then thanked all the Shareholders and informed that those Shareholders who had not been able to cast their votes by remote e-voting, and are otherwise not barred from doing so, may avail the facility of Instapoll. The Instapoll was kept open for 15 minutes. The Meeting concluded at 5:16 PM (IST) (including time allowed for e- voting at the AGM). VICE CHAIRMAN & MANAGING DIRECTOR’S SPEECH AT THE 23RD ANNUAL GENERAL MEETING OF THE COMPANY Dear Shareholders, Good evening. It is my privilege to welcome you to the 23rd Annual General Meeting of Gokaldas Exports. I would like to begin by thanking all our shareholders, customers, employees, business partners, and other stakeholders for their continued support and confidence in the Company. FY2026 was among the most demanding years that the apparel export industry has faced in recent memory. The year was marked by significant disruptions in global trade, elevated tariffs, geopolitical tensions, and volatility in the cost environment. For a significant part of the year, apparel exports to the United States faced a steep reciprocal tariff, over and above the already high MFN tariffs applicable to apparel. This created a substantial cost burden for exporters, particularly from India. At the same time, geopolitical developments, including the continuing war in Ukraine and the conflict in the Middle East, added pressure to raw material, logistics, and operating costs. Despite these challenges, Gokaldas Exports remained focused on what we could control by serving our customers reliably, improving productivity, managing costs, and continuing to invest for the future. Financial and operating performance Against this challenging backdrop, the Company delivered consolidated total income of ₹4,065 crore, representing a growth of 4% over the previous year. Revenue from operations stood at ₹3,988 crore. Reported EBITDA was ₹434 crore, with an EBITDA margin of 10.7%, broadly maintaining the margin level of the previous year despite the significant tariff burden absorbed during the year. The Company extended ₹97 crore of net tariff-related discounts to customers during the year. Adjusting for this tariff impact and certain one-time costs, EBITDA would have been approximately ₹530 crore, representing an EBITDA margin of 13%. Profitability, however, remained under pressure. Profit before tax declined to ₹172 crore and profit after tax stood at ₹100 crore. This was primarily a consequence of the tariff burden, operating deleverage in our Africa business during the period of AGOA uncertainty, start-up costs associated with newer initiatives, and higher depreciation and finance costs arising from our investments. We view several of these pressures as transitional. India business Our India operations remained the anchor of the Company during the year. India business grew by 10% yoy, despite Indian apparel exports declining by around 1.4% during the same period. This perf [Showing first 8,000 characters — download PDF for full document]