Gokul Agro Resources Approves Sweat Equity, Appoints Auditor

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Gokul Agro Resources Ltd's board, in a meeting held on August 12, 2025, greenlit several strategic initiatives including a sweat equity issuance, a new statutory auditor appointment, and a revision of executive compensation.

Investor focus sharpens as the board approves the creation, offer, issue, and allotment of up to 10,00,000 equity shares to Mr. Kanubhai Jivatram Thakkar, Chairman & Managing Director, alongside up to 8,00,000 equity shares to Mr. Jayesh Kanubhai Thakkar, Joint Managing Director, as sweat equity shares.

Further expanding its governance framework, the board approved the appointment of M/s Pipara & Co LLP as statutory auditors for a 5-year term. Concurrently, the remuneration for Mr. Hiteshkumar Tarachand Thakkar, Chief Executive Officer and Whole Time Director, has been revised.

Key Decisions and Details

• Sweat Equity Shares: Up to 10,00,000 equity shares for Mr. Kanubhai Jivatram Thakkar and up to 8,00,000 equity shares for Mr. Jayesh Kanubhai Thakkar.
• Statutory Auditor: Appointment of M/s Pipara & Co LLP for a term of 5 years.
• Remuneration Revision: Increased remuneration for Mr. Hiteshkumar Tarachand Thakkar up to ₹17,00,000 per month.

Sweat Equity Shares

The board authorized the issuance of sweat equity shares to Mr. Kanubhai Jivatram Thakkar and Mr. Jayesh Kanubhai Thakkar, acknowledging their contributions. Key data points are as follows:

• Mr. Kanubhai Jivatram Thakkar: Up to 10,00,000 equity shares at a fair market value of ₹304.70 per share.
• Mr. Jayesh Kanubhai Thakkar: Up to 8,00,000 equity shares at a fair market value of ₹304.70 per share.

Appointment of Statutory Auditor

The board has proposed M/s Pipara & Co LLP as the new statutory auditors for a 5-year stint, commencing from the conclusion of the 11th Annual General Meeting (AGM) through the 16th AGM, contingent on member approval at the upcoming AGM.

The audit firm's annual compensation will be ₹31 Lakhs, inclusive of outlays and applicable taxes, effective from FY2025-26.

Revision in Remuneration

Compensation for Mr. Hiteshkumar Tarachand Thakkar, Chief Executive Officer and Whole Time Director, gets a boost, now up to ₹17,00,000 monthly, effective from April 1, 2025, until March 31, 2028, encompassing salary, perquisites, benefits, incentives, and allowances.

Other Approvals

In addition, the board approved:

• Ratification of cost auditors' remuneration for FY2025-26, fixed at ₹65,000 plus taxes.
• Appointment of M/s Chirag Shah and Associates as secretarial auditor for 5 years, spanning FY2025-26 to FY2029-30.
• Implementation of the Gokul Employee Stock Option Plan 2025, earmarking up to 28,00,000 equity shares with a face value of ₹2 each.
• Sub-division of equity shares and consequent alteration of the capital clause in the Memorandum of Association.

The company's 11th Annual General Meeting is slated for Friday, September 12, 2025, at 12:30 P.M. IST, conducted via video conference.