Annual Report F.Y. 2025-26

Ref No: GARL/SEC/26‐27/27 Date: August 27, 2026 To, To, BSE Limited National Stock Exchange of India Limited Department of Corporate Services, Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1,Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 539725 Symbol: GOKULAGRO Sub : Annual Report of the Company for the Financial Year 2025‐26 Dear Sir/Madam, Pursuant to Regulation 34 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and in compliance with Companies Act 2013 and rules made thereunder, we are submitting herewith the Annual Report of the Company for the Financial Year 2025-26, which is being sent through electronic mode to the Members. The 12th AGM will be held on Friday, September 18, 2026, at 12:30 P.M. IST through video conference and other audio-visual means (VC). Further in compliance with Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI Listing Regulations the Company has provided E-voting facility to the Members of the Company and the details about the meeting and other events are as follows: Particulars Details Day, Date and Time of AGM Friday, September 18, 2026 at 12:30 P.M. Mode Video Conference and other Audio-Visual means Participation through video Through respective Login (same as used for E- conference voting) Helpline Number for VC CDSL-1800 22 55 33 Participations NSDL-1800 1020 990 Cutoff Date of E-voting Friday, September 11, 2026 E-voting Start Date and Time 9:00 A.M. IST, Tuesday, September 15, 2026 E-voting Start Date and Time 5:00 P.M. IST, Thursday, September 17, 2026 The Annual Report of the Company for the Financial Year 2025-26 has also uploaded on the website at https://www.gokulagro.com/investor-relations/ Kindly take the above information on records. Thanking You, Yours Faithfully, For and on behalf of Gokul Agro Resources Limited Jaimish Govindbhai Patel Company Secretary and Compliance Officer Mem No.: A42244 Encl: As Above SCALING NEW HORIZONS A N N UA L R E P O R T 2025 - 26 What’s Inside CORPORATE OVERVIEW STATUTORY REPORTS MOMENTUM IS NOT BUILT IN A SINGLE TURN. IT IS BUILT IN THE Horizon One 02 Management Discussion & Analysis 36 QUIET DISCIPLINE OF MAKING EACH TURN STRENGTHEN THE ONE THAT FOLLOWS. Horizon Two 03 Corporate Information 50 Horizon Three 04 Notice 51 Gokul Agro’s first turn was commodities. A market that runs Horizon Four 05 Board’s Report 61 on volume, volatility and thin margins, where efficiency, Horizon Five 06 Corporate Governance Report 80 integrated sourcing and logistics reach are what separate survival from leadership. Performance Highlights, FY26 08 Business Responsibility and Sustainability Report 103 Message From the Chairman & Managing Director 10 We built scale there. We built discipline there. And from that foundation, we learned a truth that has guided every decision Financial Performance 12 FINANCIAL STATEMENTS since: scale alone reaches a ceiling. Growth beyond that Corporate Snapshot 15 Standalone Financial Statements 138 ceiling demands something more. Our Journey 16 Consolidated Financial Statements 201 It demands integration. Geographic Footprint 18 Every investment we have made over the past several years Product Range 20 has been designed to reinforce the one before it. Individually, Manufacturing Excellence 22 they may appear to be separate businesses. Together, they Quality Management 25 form a single, self-reinforcing engine built to compound value Supply Chain Management 26 over time. Digital Transformation 28 This report is the story of that Marketing 29 Value Creation Model 30 engine, and the new horizons it ESG 32 is now creating. For more investor-related information, please visit Board Of Directors 34 https://www.gokulagro.com/investor-relations/ Scan this QR code to navigate to investor-related information INVESTOR INFORMATION Market Capitalisation on BSE as at I5,439 CR March 31, 2026 CIN L15142GJ2014PLC080010 BSE Code 539725 NSE Symbol GOKULAGRO AGM Date September 18, 2026 AGM Venue Video Conferencing (VC)/Other Audio-Visual Means (OAVMs) DISCLAIMER This document contains statements about expected future events and financials of Gokul Agro Resources Limited (‘the Company’), which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a significant risk that the assumptions, predictions, and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements, as several factors could cause assumptions, actual future results, and events to differ materially from those expressed in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications, and risk factors referred to in the Management Discussion and Analysis section of this Annual Report. Corporate Statutory Financial Overview Reports Statements HORIZON TWO SCALING BEYOND THE COMMODITY MARGIN THERE IS A CEILING THAT EFFICIENCY ALONE WILL NEVER REACH. THE HORIZON ONE MOMENT A COMMODITY REFINER PRODUCES THE SAME DROP AS EVERY OTHER, THE PRICE IS SET BY THE MARKET, NOT THE MAKER. SCALING BEYOND Breaking through that ceiling requires moving up the value chain and doing so from a position of structural advantage. COMMODITIES Our entry into biodiesel is the clearest expression of this shift. It is a business that converts our own used cooking oil, refinery residues and non-edible fractions into renewable fuel, which is internationally certified and exported to Europe. The feedstock that powers this EVERY STRUCTURE BEGINS WITH THE GROUND BENEATH IT. OURS IS business is generated within our own operations. A new entrant would need to source it THE RELENTLESS EFFICIENCY OF THE BASE BUSINESS. externally. FY26 confirmed the strength of our operational foundation. In a year marked The capital requirements are significant. The certification and approval timelines are by volatile edible oil prices and currency headwinds, our facilities continued long. The feedstock is the hardest element of all to secure at scale. Our integrated model to operate at high utilisation levels because demand consistently exceeded addresses all three. available capacity. Alongside biodiesel, our castor oil derivatives and oleochemicals portfolio further deepens At scale, every additional tonne processed lowers unit cost, improves asset this shift. These are products in which processing expertise, supply chain depth and productivity and strengthens cash generation. This is the compounding customer qualification create durable value well beyond the reach of commodity pricing. arithmetic of a well-run base business: the larger it grows, the more efficient it This is margin that no commodity becomes. . That efficiency serves a dual purpose. It sustains today’s profitability while market determines. It is earned generating by-product streams and surplus capital that make every subsequent horizon possible. through integration, and it funds The base business is where the everything that follows. wheel begins to turn. 13% 83% D CR INVESTED IN BIODIESEL PLANT GROWTH IN SALES VOLUME CAPACITY UTILISATION ACROSS FACILITIES 24,077 YEARS D CR PAYBACK PERIOD REVENUE IN FY26 – THE HIGHEST IN OUR HISTORY ISCC -CERTIFIED GLOBALLY RECOGNISED & EXPORTING TO EUROPE 02 03 Annual Report 2025-26 Gokul Agro Resources Limited Corporate Statutory Financial Overview Reports Statements HORIZON FOUR SCALING BEYOND HORIZON THREE GEOGRAPHY SCALING TOWARDS REACH WITHOUT STRENGTH IS FRAGILE. REACH BUILT ON INTEGRATED MARGINS IS DURABLE. CIRCULAR Towards the end of FY25, we completed the acquisition of the Mangalore refinery, gaining entry into the south-west coast, the one region of India GROWTH our network had yet to reach. [Showing first 8,000 characters — download PDF for full document]