Gujarat Apollo Approves AGM, Dividend Record Date, and Sale of Investment
Gujarat Apollo Industries Limited will hold its 39th AGM on September 28, 2026. September 21, 2026, is the record date for dividend and AGM. The company also approved in-principle the sale of its investment in Credo Advanced Chemicals Limited for ₹37.63 crore, subject to shareholder approval.
The sale of a significant investment for ₹37.63 crore is a material event that could impact the company's asset base and future financial performance. The approval required from shareholders and the subject to SPA terms introduce some uncertainty, but the potential change in asset structure warrants a medium impact assessment.
The announcement details routine corporate actions like the AGM and dividend record date, alongside a significant sale of investment. While the sale has potential financial implications, it is subject to shareholder approval and is a strategic decision rather than an immediate financial performance indicator.
Gujarat Apollo Industries Limited announced outcomes from its Board of Directors meeting held on September 3, 2026. The Board approved the notice for the 39th Annual General Meeting (AGM), scheduled for Monday, September 28, 2026, at 11:00 AM at the company's registered office. A record date has been fixed for Monday, September 21, 2026, for both dividend payment and the AGM.
Furthermore, the Board has appointed Mr. Ashish Shah, Practicing Company Secretary, as the scrutinizer for the remote e-voting and ballot paper voting process at the AGM. In a significant move, the Board also granted in-principle approval for the sale of the company's investment in Credo Advanced Chemicals Limited to Mr. Naman Madhav Patel. The total consideration for this sale is ₹37,63,20,000 (Rupees Thirty Seven Crores Sixty Three Lakhs Twenty Thousand only). This sale is subject to shareholder approval at the upcoming AGM and the terms outlined in the Sale Purchase Agreement (SPA). The transaction is outside a Scheme of Arrangement, and the company will ensure compliance with Regulation 37A of SEBI LODR Regulations during the AGM.
The meeting commenced at 3:00 PM and concluded at 4:00 PM.
A plain-language summary of a public exchange filing by Gujarat Apollo Industries Limited. Read the original for the full detail.