GIPCL: 41st Annual Report of the Company for FY 2025-26

GUJARAT INDUSTRIES POWER COMPANY LTD. Regd. Office: P.O. Ranoli - 391350, Dist. Vadodara, Gujarat-IN DIA CIN:L99999GJ1985PLC007868 SEC/ST. EXCH/REG.34/A R:2025-26: 24th August, 2026 The General Manager The General Manager Corporate Relations Department Listing Department BSE Ltd. National Stock Exchange of India Ltd. 1st Floor, New Trading Ring "Exchange Plaza", C-I, Block 'G', Sir Phiroze Jeejeebhoy Towers, Dalal Street, Bandra-Kurla Complex, Bandra (East) Mumbai: 400001. Mumbai: 400 051. Scrip Code: 517300 Scrip Symbol: GIPCL. REF.: REGULATION 34(1) OF THE SEBI {LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015. SUB.: SUBMISSION OF 41st ANNUAL REPORT OF THE COMPANY FOR F.Y. 2025-26. Dear Sir/ Madam, Pursuant to the provisions of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith full copy of 41st Annual Report of the Company for the F.Y. 2025-26 containing, inter alia, the following: 1. Notice convening 41st Annual General Meeting together with Explanatory Statement; 2. Board's Report for F.Y. 2025-26 together with its Annexures, Management Discussion and Analysis Report (MDA), Corporate Governance Report (CGR) and Business Responsibility and Sustainability Report (BRSR); and 3. Audited Financial Statements for the F.Y. 2025-26 i.e. Balance Sheet, Statement of Profit and Loss, Statement of Changes in Equity, Cash Flow Statement and Notes annexed thereto and forming part of the Audited Financial Statements; together with Auditor's Report thereon. The web link of 41st Annual Report is being sent by e-mail to all those shareholders whose valid email IDs are registered with the Company/ Registrar and Transfer Agent (RTA). The 41st Annual Report including Notice of Annual General Meeting (AGM) is also available on the website of the Company at: https://www.gipcl.com/annual.aspx Kindly take the above on your records. Thanking you, Yours faithfully, For Gujarat lndustr' f.if/N~p~ mpany Limited cs ' • t .' ,~ , - , "t. MS h ua e<ifl> '. h , , 1 iq ,M/1 )I4 S;1 'eh, a ,11 hly i~ P" ag t~ el( d I ?~ J Shahn Patelp ( Date:2026.08,2,1) Company Secretar , r•I! C01J1DII nee Officer F) ,._. Encl.: as above D • • Regd, Office & Vadodara Plant: AN Surat lignite Power Plant: P.O. Ranoll-391 350, Dist. Vadodara, Gujarat- lNDIA rao IOOI, 14001 Village: Nani Naroll, Tai. Mangrol, Dist: Surat 394110 Gujarat, INDIA 11001,10001 Phone:EPABX(0265)2232768Fax:2230029 COlll'NN Phone: EPA BX (02629) 261063 to 261072 Fax: 261080 Email: cs@gipcl.com Email: eenslpp@glpcl.com Website: www.glpcl.com ------- 41ST ANNUAL REPORT | 2025-2026 600 MW SOLAR PLANT, KHAVDA 75 MW SOLAR PLANT, VASTAN LIGNITE MINE, VALIA 500 MW THERMAL PLANT, SURAT 50.40 MW WIND PLANT, KUCHHDI GUJARAT INDUSTRIES POWER COMPANY LIMITED Awards AAwwaarrddss F.Y. 2025-26 Fly Ash Utilization Best-in-Class Efficiency Best O & M Practices Award - 2026 Award - 2026 Award - 2026 Excellent Energy Efficient Excellent Energy Efficient National Power-Gen Water IPP Lignite Plant of the Year - 2026 PLF Plant of the year - 2026 Management Award - 2026 GEEF Global Environment Environment Excellence Thermal Transition Award - 2026 Award-2025 Award - 2025 41st Annual Report 2025-2026 FORTY FIRST (41ST) ANNUAL GENERAL MEETING Board of Directors (as on 11/08/2026): GUJARAT INDUSTRIES POWER COMPANY LIMITED Dr. Jayanti S. Ravi, IAS Chairperson Smt. Shalini Agarwal, IAS Director (from 22/04/2026) DAY & DATE : SATURDAY, 19TH SEPTEMBER, 2026 Shri Jenu Devan, IAS Director (from 17/03/2026) TIME : 11:30 A.M. Shri Kanyo Sadhuram Badlani Director Through Video Conferencing or Other Shri Sanjay S. Bhatt Director (from 12/02/2026) Audio Visual Means Shri N N Misra Director PLACE : REGISTERED OFFICE: Shri Prabhat Singh Director P.O.: Ranoli - 391 350, Dist.: Vadodara, Shri Nitin Chandrashanker Shukla Director Gujarat, India. Dr. Ravindrarai Dholakia Director Dr. Mamata Biswal Director Registered Office & Works: Prof. Vishal Gupta Director P.O.: Ranoli - 391 350, Shri Susanta Kumar Roy Director Dist.: Vadodara, Gujarat, India. Smt. Suchita Gupta Director (Tel.) (0265) 2232768, (Fax) (0265) 2230029. Smt. Vatsala Vasudeva, IAS Managing Director Email : investors@gipcl.com Website : www.gipcl.com Chief Financial Officer & Executive Director (Finance): CIN:L99999GJ1985PLC007868 CA K K Bhatt Surat Lignite Power Plant: At & Post: Nani Naroli, Taluka: Mangrol, Company Secretary & Compliance Officer: Dist.: Surat – 394 110, Gujarat, India. (Tel.) (02629) 261063 to 261072, (Fax) (02629) 261080. CS Shalin Patel Email: genslpp@gipcl.com Bhuj Office: Senior Executives: Pramukh House, 1st Floor, Shri N K Purohit Executive Director (Mines) Plot No. 1, RS No. 114/2, Brahmand Villa, Nr. Hill Garden, Shri C S Jadeja Chief General Manager (Thermal) Airport Ring Road, Bhuj-370 001. Shri J S Ranawat Chief General Manager (RE) Registrar & Transfer Agent (RTA): CMA K R Mishra Chief General Manager (Commerce & Legal) MUFG Intime India Private Limited Shri A K Vaishnav General Manager (RE O & M) Geetakunj 1, Bhakti Nagar Society, Shri R M Paliwal General Manager (RE Projects) Behind ABS Tower, Old Padra Road, Shri B C Shah General Manager (Materials & Contracts) Vadodara – 390 015. Shri H P Rao General Manager (HR & A) (Tel.) (0265) 3566 768 Shri S V Mani General Manager (Commerce & Legal) Email – investor.helpdesk@in.mpms.mufg.com Bankers: CONTENTS Central Bank of India Particulars Page No. State Bank of India Bank of Baroda Board of Directors 01 Kotak Mahindra Bank Limited Notice & Instructions for e-Voting & VC AGM 04 Karur Vysya Bank Limited Axis Bank Limited Board’s Report 13 Statutory Auditors: Management Discussion and Analysis 42 M/s. K C Mehta & Co. LLP, Chartered Accountants, Vadodara. Corporate Governance Report 53 (FRN: 106237W/ W-100829) Business Responsibility & Sustainability Report 75 Cost Auditors: Independent Auditors’ Report 104 M/s. Dalwadi & Associates Balance Sheet 112 Cost Accountants, Vadodara. (FRN: 000338) Statement of Profit & Loss 113 Secretarial Auditors: Statement of Changes in Equity 114 M/s. TNT & Associates, Statement of Cash Flows 115 Practicing Company Secretary, Vadodara. Notes to the Financial Statements 117 (FRN: P2018GJ069800) Gujarat Industries Power Company Limited ATTENTION removes the freeze on corporate benefit payments and physical folio services; and it provides three fields that 1. Pursuant to Section 91 of the Companies Act, 2013, the are required for updating Nomination details in the event Register of Members and Share Transfer Books of the Company that the “Choice of Nomination” is not submitted. shall remain closed from Saturday, the 12th September, 2026 to Saturday, the 19th September, 2026 (both days inclusive). (e) Pursuant to SEBI LODR (Fifth Amendment) Regulations, 2025 dated 18th November 2025 vide in which all the 2. (a) Pursuant to SEBI (Fourth Amendment) Regulations, 2018 payments specified for regulation 12 of SEBI LODR notified on 8th June, 2018 effective from 05th December, has now to be made only through electronic mode. 2018 no transfer of shares, transmission or transposition Accordingly, no physical warrants, cheques or demand of securities, shall be processed unless the securities drafts shall be issued towards payment of dividends, are held in dematerialized form with a depository interest, redemption or repayment amounts. and pursuant to SEBI Circulars No. SEBI/HO/MIRSD/ RTAMB/CIR/P/2020/166, dated 07th September, 2022 Further in accordance with the above stated SEBI Circulars, the Company had sent reminder letters to and in continuation on the cited circular No. SEBI/HO/ MIRSD/RTAMB/CIR/P/2020/236, dated 02nd December, identified shareholders urging them to register their e-mail address, PAN, KYC Details, Nomination and etc. 2022, notify that the no transfer of shares, transmission Members who have not registered their said particulars or transposition of securities, shall be processed unless the securities are [Showing first 8,000 characters — download PDF for full document]