Gujarat Fluorochemicals : Resignation

GFCL: BRD: 2022	18th October, 2022
The Secretary	The Secretary
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza, Bandra Kurla Complex
Dalal Street, Mumbai 400 001	Bandra (E), Mumbai 400 051
Scrip code: 542812	Scrip Code: FLUOROCHEM

Sub: Outcome of Board Meeting dated 18th October, 2022 in terms of Regulation 30, 33 and all other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)

Ref: Our letter dated 10th October, 2022 about intimation of Board Meeting

Dear Sir/Madam,

Pursuant to Regulation 33 and 42 read with Regulation 30 of the Listing Regulation, we would like to inform you that the Board of Directors of the Company at its meeting held on today i.e. 18th October, 2022, inter alia, has approved / noted the following:

1. Unaudited Standalone and Consolidated Financial Results of the Company along with Limited Review Reports for the quarter and half year ended 30th September, 2022
   Pursuant to Regulation 33 read with Regulation 30 of the Listing Regulations, an Unaudited Standalone and Consolidated Financial Results of the Company along with Limited Review Reports issued by the Statutory Auditor of the Company for the quarter and half year ended 30th September, 2022, which have been approved by Board of Directors of the Company, are attached as Annexure - 1
   The same is also available on the Company's Website i.e. www.gfl.co.in.
2. Declaration of Interim Dividend for the Financial Year 2022-23 and to fix Record Date for payment of the said Interim Dividend
   Pursuant to Regulation 42 read with Regulation 30 of the Listing Regulation, the Board has declared an Interim Dividend for the Financial Year 2022-23 at the rate of 200% (Rs. 2 per Equity Share) on the face value and paid-up value of Equity Shares of Re. 1/- each and fixed record date as 01st November, 2022 for payment of said Interim Dividend. We request you to note that the said Interim Dividend will be paid by the Company on or before 17th November, 2022 to all the Shareholders of the Company whose names will appear in the Register of Members as on the Record Date i.e. 01st November, 2022.
   Note for the Members of the Company on Tax Deduction at Source on Dividend is attached as Annexure - 2.

Mr. Jay Shah is Chemical Engineer and graduated from T.K.I.E.T from Kolhapur and done his M. Tech. in Chemical Engineering from University

Department of Chemical Technology, Mumbai. He has over 24 years of experience in

1. Appointment of Mr. Jay Shah (DIN 0009761969) as an Additional and Whole-time Director of the Company subject to approval of the shareholders
   Mr. Jay Shah (DIN 0009761969) has been appointed as an Additional and Whole-time Director of the Company w.e.f. 01st November, 2022 subject to approval of the Shareholders by way of Postal Ballot.
2. Resignation of Mr. Sanjay Sudhakar Borwankar (DIN 08640818) as Whole-time Director of the Company
   Mr. Sanjay Sudhakar Borwankar (DIN 08640818), Whole-time Director of the Company has tendered his resignation from the post of Whole Time Director and Director of the Company w.e.f. 31st October, 2022, on account of his decision to move out of the Company for his better future prospects.
   Mr. Sanjay Borwankar also confirmed that there is no other material reason except mentioned above for his resignation.

The Board has accepted his resignation and appreciate his valuable contribution and long association with the Company.

Further, the details/disclosures required under Regulation 30 of the SEBI Listing Regulations, read with Schedule III thereto and the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 ("SEBI Circular"), is as below:

Sr.

Disclosure Requirements

Details

No.

Mr. Sanjay

Sudhakar

Mr. Jay Shah

Borwankar

(DIN 0009761969)

(DIN 08640818)

01.

Reason

for

change, viz.

Mr. Sanjay

Sudhakar

Mr. Jay Shah appointed as an

appointment,

resignation,

Borwankar has resigned as

Additional and Whole-time

removal, death or otherwise

Whole-time Director of the

Director of the Company, subject

Company and

director of

to the approval of the

the Company on account of

Shareholders by way of Postal

his decision to move out of

Ballot.

the Company for his better

future prospects.

02.

Date

of

appointment

With effect from 31st

Appointed as an Additional and

/cessation (as

applicable) &

October, 2022.

Whole-time Director of the

term of appointment

Company w.e.f. 01st November,

2022 subject to approval of the

shareholders.

03.

Brief profile

Not applicable

(in case of appointment)

			Heading and Commissioning for
			various Chemical,	Speciality &
			Fine Chemicals	Plants.	His
			previous assignment was	with
			Paushak Limited and prior to it,
			he was associated with Deepak
			Phenolics Limited and Reliance
			Industries Limited.
04.	Disclosure of relationships	Not related to any	Not related to any Directors of
	between Directors (in case of	Directors of the Company.	the Company.
	appointment of a Director)

The Meeting of the Board of Directors of the Company commenced at 12:15 p.m. and concluded at 01:15 p.m.

We request you to take the above on your record.

Thanking you,

Yours faithfully,

For Gujarat Fluorochemicals Limited

Bhavin Desai

Company Secretary

Encl.: As above