GP Petroleums Announces Director Appointments and Recommends Dividend at Board Meeting
GP Petroleums Limited, following its Board Meeting held on July 24, 2026, announced significant outcomes concerning corporate governance, including the appointment of two additional directors and the recommendation of a final dividend for shareholders. The company also set the date for its upcoming 43rd Annual General Meeting (AGM).The Board meeting considered and approved the unaudited financial results (both standalone and consolidated) for the quarter ended June 30, 2026. These results were reviewed in conjunction with a Limited Review Report issued by M/s. J Mandal & Co., Chartered Accountants, Statutory Auditors of the Company.
Governance and Personnel Appointments
In a move that strengthens its leadership structure, the Board approved several key appointments based on the recommendation of the Nomination and Remuneration Committee.Two additional directors were appointed:
- Mr. Harshavardhan Sinha: Appointed as a Non-Executive, Non-Independent Director with effect from July 24, 2026.
- Ms. Sandra Martyres: Appointed as a Non-Executive, Independent Director for a term of two consecutive years, commencing on July 24, 2026.
Additionally, Mr. Ajay Navaratne, Vice President Rubber Process Oil, was appointed as Senior Management personnel effective the same day.
Dividend Recommendation and AGM Details
The Board meeting concluded with a recommendation regarding shareholder returns for the past fiscal year. The company recommended a final dividend of 0.50/- each, which represents 10% of the earnings for the financial year ended March 31, 2026. This payment remains subject to the approval of Members at the forthcoming Annual General Meeting (AGM).The Board also finalized key dates related to shareholder entitlement and the AGM:
| Event | Date/Detail |
|---|---|
| Dividend Recommendation | 0.50/- each (10%) for FY ended March 31, 2026 |
| Record Date | Wednesday, August 19, 2026 |
| 43rd AGM | Wednesday, August 26, 2026 (via Video Conferencing/OAVM) |
The company confirmed that the dividend payment will be made after the requisite tax deduction at source (TDS), provided it is approved by the shareholders at the 43rd AGM.
GULFPETRO Stock Price Movement
As of 1:19 PM, shares of GP Petroleums Limited are surging in live trading, currently commanding ₹43.28 after gaining a robust 5.00%. The stock has seen significant activity thus far, with a traded volume accounting for 260,833 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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