GRSE calls 110th AGM: ₹6.70 final dividend and a Navratna-driven rewrite of its Articles

Garden Reach Shipbuilders & Engineers Limited (GRSE) has notified its 110th Annual General Meeting, to be held on 25 September 2026 through video conferencing, with the AGM notice dated 29 July 2026 enclosed. The record date for the final dividend is 18 September 2026, and the Register of Members and Share Transfer Books will remain closed from 19 to 25 September 2026 (both days inclusive).

Beyond the routine adoption of accounts and auditor items, the notice confirms the FY2025-26 dividend, seeks shareholder confirmation of board appointments, and — most substantively — asks members to approve an alteration of the Articles of Association by way of a special resolution.

For FY2025-26 the notice records two interim dividends already paid and a proposed final dividend, together making up the per-share total that shareholders will confirm at the meeting. If declared, the dividend is payable within 30 days of declaration to members on record as at 18 September 2026.

The filing also discloses that the Department of Public Enterprises accorded Navratna status to GRSE via an Office Memorandum dated 19 June 2026. To operationalise the enhanced autonomy that status brings, the board seeks a special resolution to amend Articles 260(c), 261(b), 261(c) and 261(y). Per the notice, the changes remove monetary ceilings on certain replacement capital expenditure, raise the single-project joint-venture equity investment limit, extend the power to form wholly owned subsidiaries in India and abroad, and update the governing framework from Mini-Ratna to Navratna.

The notice puts to members the confirmation of two government appointments already made: Shri Niranjan Mukund Bhalerao as Whole-time Director (Finance), effective 6 October 2025, and Dr. Vijay Namdeorao Zade as Government Nominee Director, effective 5 June 2026. Capt. Sunilkumar Panangadan retires by rotation and offers himself for re-appointment. As a government company under the Ministry of Defence, GRSE's directors are appointed by the Government of India, and public-sector companies must seek shareholder approval for such appointments at the next general meeting.