Interim report
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Ref: GARL/SEC/26-27/40 Date: October 28, 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: Ref: Outcome of Board Meeting held on October 28, 2026 Regulations 30 and 33 of the SEBI (L isting Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Dear Sir/Madam, Pursuant to Regulation 30 and 33 of the SEBI Listing Regulations, we would like to inform you that the Board of Directors at it s Meeting held today i.e. October 28 , 2026 inter-alia, considered and approved the following: 1. The Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended on Septembe r 30, 2026, along with the Limited Review Report issued by M/s Pipara & Co LLP , Statutory Auditors of the Company in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is attached herewith as Annexure-A. Financial Results are also being uploaded on th e website of the Company viz., https://www.gokulagro.com/investor-relations/?id=quarter_result 2. Considered and approved the proposal for in stallation of an additional Solar Power Project aggregating to 14 MWp, at a total capital outlay of Rs. 38 crore plus applicable taxes, for captive consumption at the Gandhidham Plant, Gujarat (10 MWp) and the Mangalore Plant, Karnataka (4 MWp) The details as required pursuant to SEBI Ma ster Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure-B. Further, the Nomination & Remuneration Committee has granted 8,47,800 stock options pursuant to ‘Gokul- Employee Stock Option Pl an 2025’ to the eligib le employees of the Company. The details as required pursuant to SEBI Ma ster Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 is enclosed as Annexure-C.
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The Board meeting commenced at 4:15 P .M. and concluded at 05:00 P .M. We request you to kindly take the above information on your record. Thanking You, For, Gokul Agro Resources Limited Jaimish Govindbhai Patel Company Secretary and Compliance Officer Membership no.: A42244
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IRilisN & ~R I CHARTERED ACCOUNTANTS Independent Auditor's Review Report on Quarterly and Year to Date Unaudited Consolidated Financial Results Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To, The Board of Directors, Gokul Agro Resource s Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Gokul Agro Resourc es Limited (hereinafter referred to as "the Parent Company") and its subsidiar ies (including step down subsidiary and its asso ciates, as stat ed in Sr. No.4 below) (the Parent Company and its subsidiaries together referred to as "the Group"), for the quarter ende d September 30, 2026 and year to date from 01st April, 202 6 to 30th September 202 6 (the "Statem ent") being submitted by the Parent company pursuant to the requirement of Regulation 33 of the SEB[ (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulation s"). 2. This Statem ent, which is the responsibilit y of the Parent Company's Management and approved by the Pare nt Company's Board of Directors, has been prepared in accordance with the reco gnit ion and meas urem ent principles laid down in the Indian Accounting S tand ard 34 "Interi m Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 rea d with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We condu cted our review of the Statement in accordance with the Standard on Review Engage ments (SRE) 2410 "Review of Interim Financial Information Performed by the Indep endent Auditor of the Entity", issu ed by the Instit ute of Charte red Accounta nts of India (!CAI). This Standard requi res that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of Interim Financial informa tion consists of making inquiries, primar ily of persons responsible for financial and accounting matt ers, and applying analytical and other review procedur es. A review is substantially less in scope than an audit condu cted in accordance with Standards on Auditing specified und er Section 143(10) of the Companies Act, 2013 and consequentl y does not enable us to obtain assu rance that we would become aware of Page 1 of3 <~ Corporate Office: Pipara Corporat e House, Near Bandhan Bank, Neta ji Marg. Law Garden, Abmeda ~ ' ujarat, India . Contact: T: 917940 370 370 E: pipara @pipara. com info@pipara.com www.plpara.com Mumbai Delhi Hyderabad Singapore • New York London Dubai
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all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We have also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of the following entities: Name of the Entity Relationship Gokul Agro Resources Limited Parent Company Riya Agro Industries Private Wholly owned Subsidiary Company of Gokul Agro Limited Resources Limited. Maurigo PTE Limited Wholly owned Subsidiary Company of Gokul Agro Resources Limited. Wholly owned Subsidiary Company of Maurigo Riya International PTE Limited PTE Limited (Step-Down Subsidiary of Gokul Agro Resources Limited). Maurigo Inda Holdings PTE Wholly Owned Subsidiary Company of Maurigo PTE Limited (Step-Down Subsidiary of Gokul Limited Agro Resources Limited), Associate of Maurigo lndo Holdings PTE Limited PT Riya Pasifik Nabati (Associate of Step-Down Subsidiary of Go kul Agro Resources Limited). 5. Based on our review conducted and procedures performed as stated in paragraph 3 above on Gokul Agro Resources Limited and based on the consideration of the financials of two subsidiary companies, two step-down subsidiary companies and one associate of step down subsidiary company as certified by the management referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We did not review the interim financial results of two subsidiary and two step-down subsidiary companies and one associate company of step-down subsidiary company; whose interim financial results reflects, (1) total assets of Rs. 84,640.23 Lakhs as at Page 2 of 3
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30th September, 2026, (2) total revenue of Rs. 3,03,154.72 Lakhs and Rs. 4,60,545.90 Lakhs, (3] total Net Profit After Tax Rs. 1,817.02 Lakhs and Rs. 3,697.27 Lakhs, ( 4) total Comprehensive Income of Rs. 382.98 Lakhs and Rs. 493.42 Lakhs for the quarter ended and year to date from 01 st April, 2026 to 30th September, 2026 respectively, (5) net cash outflow of Rs. 40.34 Lakhs, for the period from 01st April, 2026 to 30th September, 2026. These interim financial results have neither been reviewed by us or any other auditors and presented solely on the basis of the information complied and certified by the management and approved by the board of directors. This unaudited financial result has been furnished to us by the Board of Directors and our opinion on the statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate is based solely on such unaudited financial result. Our conclusion on the statement is not modified in respect of our reliance on the interim financial results certified by the Parent company's management. For, Pipara & Co LLP Chartered Accountants (FRN:1079 9W /Wl 00219) amanPipara Partner M. No.140234 UDIN: 26140234SJPFED7395 Date: 28-10-2026 Place: Ahmedabad Page 3 of 3
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IAUlisU&rn l CHART ERED AC COUNT A.STS Independent Auditor's Review Report on Quarterly and Year to Date Unaudited Standalone Financial Results pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To, The Board of Directors, Gokul Agro Resources Limited 1. We have reviewed the accompanying Statement of Unaudit ed Standalone Financial Results of Gokul Agro Resource s Limited (hereinafter referred to as "the Company") for the quart er end ed September 30, 2026 and year to date from 01st April, 2026 to 30th September 2026 ("the State ment"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosur e Requirements) Regulations, 2015, as amended ("the Listing Regulations"), 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recogniti on and measurement principl es laid down in the Indian Accounting Standard 34 "Interim Financial Reporting", prescribed under Section 133 of the Companies Act, 2013 read with relevant rule s issued thereunder and other accounting principles generally accepted in India, and is in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the State ment based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Perform ed by the Independent Auditor of the Entity', issued by the Institu te of Chartered Accoun tants of India (ICAI). This Standard requires that we plan and perform the review to obtain moderate assurance as to wheth er the Statement is free of material misstatement. A review of interim financial information consists of making inquiri es, primarily of the Company's personnel responsible for financial and accounting matters , and app lying analytical and other review procedures. A review is substa ntially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not expr ess an audit opinion. Page 1 of2 Corporate Office: Pi para Corporate House, Near Bandhan Bank, Netajl Marg, Law Garden, Ahmedabad -3 Contact: T: 91 79 40 370370 E: pipara@pi para.com info@pipara.com www.pipara.com Mumbai • Delhi • Hyderabad • Singapore • New York • London • Dubai
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4. Based on our review conducted and procedures performed as stated in paragraph 3 above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including .the manner in which it is to be disclosed, or that it contains any material misstatement. For, Pipara & Co LLP Chartered Accountants (FRN:107 9/T9W/W100219) t,1.¥;~ aman Pipara Partner M. No.140234 UDIN:26140234VSUIEZ1477 Place: Ahmedabad Page 2 of2
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Annexure-B The information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular vide Ref. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed as under: Details of Renewable Power Capacity SRN Particulars Details 1. Existing capacity 28.79 MWp 2. Existing capacity utilization 100% 3. Proposed capacity addition 14.0 MWp (10 MWp in Gujarat and 4 MWp in Karnataka) 4. Period within which the proposed capacity is to be added 12 Months 5. Investment required Approx. Rs. 38.00 cr. plus applicable taxes 6. Mode of financing Internal Accruals 7. Rationale - Energy Reliability and Sustainability (ESG) Goals - Power cost saving
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Annexure-C The information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular vide Ref. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed as under: Details of ESOP Granted SRN Particulars Details 1. Brief details of the options granted 8,47,800 stock options to the eligible employees of the Company under the Gokul- Employee Stock Option Plan 2025 (“ESOP Plan 2025”) 2. Whether the scheme is in terms of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021 as amended from time to time Yes 3. Total number of shares covered by these options. 8,47,800 equity shares (each stock option is convertible into 1 equity share of face value of Re. 1). 4. Pricing Formula / exercise price The above options can be exercised at an Exercise price of Rs. 50/- per option 5. Options Vested Not earlier than one year and not later than five years from the date of grant of such options subject to the ESOP Plan 2025 6. Time within which Options may be exercised Two years from the date of vesting of options 7. Option Exercised Not Applicable 8. Money realized by exercise of Options 9. The Total number of shares arising as a result of exercise of Option 10. Option lapsed 11. Variation of terms of Options 12. Brief details of significant terms ESOP Plan 2025 is administered by the Nomination and Remuneration Committee In case of any corporate action(s) such as rights issues, bonus issues, sale of division, split of shares and /or consolidation of Shares, scheme of arrangement, amalgamation, merger or demerger or other reorganization etc., requisite adjustments (which may include adjustments to the number of Stock Options in ESOP Plan 2025) shall be appropriately made, in a fair and reasonable manner in accordance with ESOP Plan 2025 The equity shares allotted, pursuant to the exercise of the Stock Options, would not be subject to lock-in 13. Subsequent changes or cancellation or exercise of Option Not Applicable 14. Diluted earnings per share pursuant to issue of equity shares on exercise of Options