Alpex Solar MD, chairman and AGM

Alpex Solar board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

Chairperson and managing directorASHWANI SEHGALRelated to the promoter
Company Secretary and Compliance OfficerSAKSHI TOMAR

7 directors4 independent3 executive

ASHWANI SEHGAL · Chairperson and managing directorExecutive · joined Aug 1993 · 1 listed board
MONICA SEHGALExecutive · joined Aug 1993 · 1 listed board · 1 committee seat
VIPIN SEHGALExecutive · joined Jun 2017 · 1 listed board · 2 committee seats
DEEPAK VERMAIndependent · joined Oct 2023 · 32 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
INDRAJEET S KHANNAIndependent · joined Oct 2023 · 32 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
MUKESH MALHOTRAIndependent · joined Sep 2025 · 9 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
SANGEETA BHATIAIndependent · joined May 2026 · 1 month as independent · 2 listed boards · 2 as independent · 4 committee seats, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left

Satish Kumar Gupta, left 30 Sep 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

Board
- 29 Jun 20267 of 7 present4 independent · 38 days in between
- 21 May 20266 of 6 present3 independent · 56 days in between
- 25 Mar 20266 of 6 present3 independent · 18 days in between
- 6 Mar 20266 of 6 present3 independent · 24 days in between
1 earlier meeting
- 9 Feb 20266 of 6 present3 independent
Audit Committee
Chair INDRAJEET S KHANNA
DEEPAK VERMA, MUKESH MALHOTRA, VIPIN SEHGAL
- 29 Jun 20264 of 4 present3 independent · 24 days in between
- 4 Jun 20264 of 4 present3 independent · 13 days in between
- 21 May 20263 of 3 present2 independent · 100 days in between
- 9 Feb 20263 of 3 present2 independent
Nomination and remuneration committee
Chair DEEPAK VERMA
INDRAJEET S KHANNA, MUKESH MALHOTRA
- 21 May 20263 of 3 present3 independent · 56 days in between
- 25 Mar 20263 of 3 present3 independent · 18 days in between
- 6 Mar 20263 of 3 present3 independent · 24 days in between
- 9 Feb 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair DEEPAK VERMA
MONICA SEHGAL, VIPIN SEHGAL
- 25 Mar 20263 of 3 present1 independent
Risk Management Committee
Chair DEEPAK VERMA
MONICA SEHGAL, VIPIN SEHGAL
- 25 Mar 20263 of 3 present1 independent
Corporate Social Responsibility Committee
Chair DEEPAK VERMA
ASHWANI SEHGAL, MONICA SEHGAL, VIPIN SEHGAL
- 25 Mar 20264 of 4 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

M/s. Seth & SethPeer-review certificate valid to Feb 2027

1 earlier auditor

Seth & SethNamed in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Alpex Solar AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Alpex Solar share news and announcements

Annual general meeting, 29 Sep 2026

8,630 shareholders on the register on 22 Sep 2026; present: 8 promoters and 26 others; votes counted by Mr. Narendra Rahalkar / Narendra Rahalkar & Co..The company's voting result (opens in a new tab)

To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and the Statutory Auditor thereon and Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Statutory Auditor thereonMoreLess
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 65.51% · promoters 96.22% · institutions 1.03% · other public 6.79%
To appoint a director in place of Mrs. Monica Sehgal (DIN: 00001213), who retires by rotation and being eligible, offers herself for re-appointment
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 65.51% · promoters 96.22% · institutions 1.03% · other public 6.79%
To re-appoint M/s. Seth and Seth Chartered Accountants as the Statutory Auditors of the Company for a second term of 5 (five) consecutive years and to determine their remuneration
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 65.51% · promoters 96.22% · institutions 1.03% · other public 6.79%
To appoint Narendra Rahalkar and Co., as the Secretarial Auditor of the Company
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 65.51% · promoters 96.22% · institutions 1.03% · other public 6.79%
To ratify the remuneration of R. Nanabhoy and Co., the Cost Auditors of the Company for the Financial Year ending March 31, 2027
Ordinary
99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.64%
Turnout: all 65.51% · promoters 96.22% · institutions 1.03% · other public 6.79%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 17 Aug 2026, 4 resolutions

8,991 shareholders on the register on 17 Jul 2026; votes counted by Narendra Rahalkar / Narendra Rahalkar & Co..The company's voting result (opens in a new tab)

Approval for appointment of Mrs. Sangeeta Bhatia (DIN: 06889475) as an Independent Director of the Company
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 1.12%
Turnout: all 63.66% · promoters 96.22% · institutions 1.06% · other public 0.69%
Approval for increase in the borrowing powers under Section 180(1)(c) of the Companies Act, 2013 up to Rs. 2,000 Crore
Special
99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 4.66%
Turnout: all 63.66% · promoters 96.22% · institutions 1.06% · other public 0.69%
Approval for selling, leasing, otherwise disposing of the whole or substantially the whole of the undertakings of the Company or creation of hypothecations / mortgages and/or charges under section 180(1)(a) of the Companies Act, 2013MoreLess
Special
99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 5.96%
Turnout: all 63.66% · promoters 96.22% · institutions 1.06% · other public 0.69%
Approval for entering into Material Related Party Transaction(s) with Alpex NVNR Consortium (ANC), a Joint Venture /Consortium of the Company
Ordinary
97.79% for2.21% against
Against: promoters 0.00% · institutions 0.00% · other public 2.61%
Turnout: all 0.25% · promoters 0.00% · institutions 1.06% · other public 0.69%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Dealings with its subsidiaries, promoters, directors and their firms, reported every half-year.Promoters and their stake

Half-year to Mar 2026: ₹108 Cr34 dealings, 9 loans and advances
Half-year to Sep 2025: ₹12 Cr26 dealings, 5 loans and advances
Half-year to Mar 2025: ₹25 Cr27 dealings

Between	Dealing
Alpex Solar Limited and Alpex NVNR ConsortiumJoint Venture	Sale of goods or services	33.14	33.14	0.00	25.01
Alpex Solar Limited and ASHWANI SEHGALManaging Director	AdvanceAdvance, unsecured, Purchase of Land	21.15	19.04	0.00	19.04
Alpex Green Energies Private Limited and CHANDRA ENERGY PRIVATE LIMITEDStep-Down Subsidiary	LoanLoan at 9.83%, 5, unsecured, Transactions with subsidiaries enhance operational efficiency, ensure seamless supply chain integration, and support business expansion, thereby being in the best interest of the Company.	16.00	12.04	6.17	18.21
Alpex Solar Limited and Alpex Green Energies Private LimitedSUBSIDIARY	LoanLoan at 9.83%, 5 years, unsecured, Transactions with subsidiaries enhance operational efficiency, ensure seamless supply chain integration, and support business expansion, thereby being in the best interest of the Company.	14.96	11.77	6.21	17.98
Alpex Solar Limited and Alpex Green Energies Private LimitedSUBSIDIARY	Purchase of goods or services	10.51	10.51	₹16,000	−5.02
Alpex Solar Limited and SVALP Structure Private LimitedEntity controlled by Promoter	AdvanceAdvance, 0, unsecured, Transactions enhance operational efficiency, ensure seamless supply chain integration, and support business expansion, thereby being in the best interest of the Company.	3.19	3.18	0.00	3.18
Alpex Solar Limited and SVALP Structure Private LimitedEntity controlled by Promoter	Purchase of goods or services	10.00	2.95	2.84	0.00
Alpex Solar Limited and CHANDRA ENERGY PRIVATE LIMITEDStep-Down Subsidiary	Any other transactionReimbursement of expenses	2.66	2.66	0.00	0.00
Alpex Solar Limited and CHANDRA ENERGY PRIVATE LIMITEDStep-Down Subsidiary	Any other transactionNovation Right	2.00	2.00	0.00	0.00
Alpex Solar Limited and ASHWANI SEHGALManaging Director	Any other transactionRent paid in advance received back	1.98	1.98	0.00	0.00
Alpex Solar Limited and ASHWANI SEHGALManaging Director	Remuneration	2.09	1.48	−0.14	−0.23
Alpex Solar Limited and MONICA SEHGALWhole Time Director	Remuneration	1.84	1.29	−0.13	−0.13
Alpex Solar Limited and Zyconic Private LimitedEntity controlled by Director	Purchase of goods or services	1.28	1.28	0.01	−0.04
Alpex Solar Limited and Alpex Green Energies Private LimitedSUBSIDIARY	Sale of goods or services	1.27	1.11	11.40	12.61
Alpex Solar Limited and VIPIN SEHGALEXECUTIVE DIRECTOR	Remuneration	1.29	0.90	−0.09	−0.10
Alpex Solar Limited and Alpex Green Energies Private LimitedSUBSIDIARY	Any other transactionInterest Income on Loan	0.89	0.89	0.00	0.80
Alpex Green Energies Private Limited and CHANDRA ENERGY PRIVATE LIMITEDStep-Down Subsidiary	Interest received	1.00	0.68	0.00	0.62
Alpex Solar Limited and Zentrix PV Labs Private LimitedEntity controlled by Promoter	AdvanceAdvance, 0, unsecured, Transactions made to enhance operational efficiency, ensure seamless supply chain integration, and support business expansion, thereby being in the best interest of the Company.	0.62	0.62	0.02	0.64
Alpex Solar Limited and ADITYA SEHGALCHIEF EXECUTIVE OFFICER	Remuneration	0.56	0.38	−0.02	−0.05
Alpex Solar Limited and UDAYA SEHGALCHIEF FINANCIAL OFFICER	Remuneration	0.55	0.31	−0.03	−0.06
Alpex Solar Limited and SAKSHI TOMARCOMPANY SECRETARY AND COMPLIANCE OFFICER	Remuneration	0.17	0.10	−0.01	−0.03
Alpex Solar Limited and Alpex Green Energies Private LimitedSUBSIDIARY	Any other transactionBusiness Support Services Rendered	1.00	0.03	0.03	0.06
Alpex Solar Limited and MONICA SEHGALWhole Time Director	Any other transactionRent paid	0.02	₹90,000	−0.03	−0.02
Alpex Solar Limited and ANSHU BHATIARELATIVE OF DIRECTOR	Any other transactionRent paid	1.00	₹60,000	−₹60,000	−0.01
Alpex Solar Limited and Alpex Exim Private LimitedEntity controlled by Director	Any other transactionReimbursement of expenses	1.00	₹31,000	0.19	0.20

The 25 largest of 34 dealings in the half-year to Mar 2026, ₹ crore.

Tax disputes

Reported in the filing for the quarter to Jun 2026.

Tax disputeDeputy Commissioner of Income TaxSince 29 May 2023
Pending to be heard
At the filing before: To be listed on 06-08-2026 for arguments

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

Received
Resolved

Open at the quarter's end

None open at any quarter's end.

The board is made up as the listing rules require: Yes
The board has a regular chairperson: No
The company has a risk management committee: Yes
The chair is related to the managing director: Yes
The filing has a part on fines and penalties: No
The filing has a part on tax disputes: Yes
There was a cyber security incident in the quarter: No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

Raised	Amount raised	For	Set aside	Spent	Spent elsewhere
Public IssuesFeb 2024	74.52		–	–	No
Preferential IssuesSep 2025, checked by Crisil Ratings Limited	260.17		–	–	No

₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.

Alpex Solar board of directors

Committees and meetings

Board

Audit Committee

Nomination and remuneration committee

Stakeholders Relationship Committee

Risk Management Committee

Corporate Social Responsibility Committee