Indef Manufacturing logo

Indef Manufacturing MD, chairman, board of directors and AGM

NSE: BAJAJINDEFBSE: 544364Industrial ManufacturingSmall Cap

Last close ₹183.01down ₹4.95 (2.63%)BSE ₹185.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹187.96.

52-week range of traded prices to 23 Oct 2026
₹177.00Low, 23 Oct 2026₹421.00High, 29 Oct 2025
Market cap
₹586 Cr1,547th largest listed
P/E
25.0
P/B
2.2
Dividend yield
1.09%
ROE
9.0%
ROCE
4.5%
Debt to equity
0.00
Volume, NSE
15,74462.8% delivered

Indef Manufacturing board of directors

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

  • ChairpersonShekhar BajajRelated to the promoter
  • Company Secretary and Compliance OfficerVINEESH VIJAYAN THAZHUMPAL

8 directors4 independent1 executive3 non-executive

  • Shekhar Bajaj · ChairpersonNon-executive · joined Sep 2022 · 5 listed boards · 4 committee seats, 3 as chair
  • Jayavanth Kallianpur MallyaIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 3 listed boards · 3 as independent · 4 committee seats
  • Vikram HosangadyIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 5 listed boards · 5 as independent · 7 committee seats, 2 as chair
  • Girija BalakrishnanIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 6 listed boards · 6 as independent · 9 committee seats, 3 as chair
  • Amit BhallaExecutive · joined Oct 2024 · reappointed Oct 2024 · 24 months as independent · 1 listed board · 1 committee seat
  • Vandan Sitaram ShahNon-executive · joined May 2025 · reappointed Aug 2025 · 16 months as independent · 2 listed boards · 1 as independent · 2 committee seats, 1 as chair
  • Mahendrakumar Amritlal GohelIndependent · joined May 2026 · 4 months as independent · 3 listed boards · 3 as independent · 3 committee seats, 1 as chair
  • Pooja BajajNon-executive · joined May 2026 · 4 months as independent · 3 listed boards · 1 committee seat

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
  • Nirav Nayan Bajaj, left 27 May 2025: Others

Committees and meetings

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

  • Board

    • 12 Aug 20268 of 8 present4 independent · 78 days in between
    • 25 May 20266 of 6 present3 independent

  • Audit Committee

    Chair Vikram Hosangady

    Girija Balakrishnan, Jayavanth Kallianpur Mallya, Amit Bhalla

    • 12 Aug 20264 of 4 present3 independent · 78 days in between
    • 25 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Jayavanth Kallianpur Mallya

    Girija Balakrishnan, Vikram Hosangady

    • 25 May 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Shekhar Bajaj

    Jayavanth Kallianpur Mallya, Vandan Sitaram Shah

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Shekhar Bajaj

    Amit Bhalla, Girija Balakrishnan

    • 25 May 20263 of 3 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.

  • KANU DOSHI ASSOCIATES LLPPeer-review certificate valid to Dec 2028
1 earlier auditor
  • M/s. Kanu Doshi Associates LLPNamed 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.

Indef Manufacturing 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.Indef Manufacturing dividend history

Annual general meeting, 12 Aug 2026

19,917 shareholders on the register on 5 Aug 2026; present: 19 promoters and 53 others; votes counted by Aparna Gadgil / S N Ananthasubramanian & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: (a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Directors and the Auditors thereon; and (b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, and the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

  2. To declare a Final Dividend of Rs. 2/- (Rupees Two only) per equity share of face value Rs. 1/- each (200%) for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

  3. To appoint a Director in place of Shri Vandan Sitaram Shah (DIN: 00759570), who retires by rotation and being eligible, has offered himself for re-appointment
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

  4. Approval for Continuation of Directorship of Shri Shekhar Bajaj (DIN: 00089358) as Chairman & Non-Executive Non-Independent Director of the Company after attaining the age of Seventy‑Five Years
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

  5. Ratification of Remuneration payable to Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

  6. Appointment of Ms. Pooja Bajaj (DIN: 08254455) as a Director of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

  7. Appointment of Shri Mahendrakumar Gohel (DIN: 09425947) as a Non-Executive Independent Director
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.92%

    Turnout: all 70.56% · promoters 100.00% · institutions 88.93% · other public 0.29%

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, 15 May 2026, 1 resolution

20,003 shareholders on the register on 10 May 2026; votes counted by S. N. Viswanathan / S. N. ANANTHASUBRAMANIAN & CO.The company's voting result (opens in a new tab)

  1. Revision in remuneration of Shri Amit Bhalla (DIN: 08215712), Managing Director
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.90%

    Turnout: all 71.27% · promoters 100.00% · institutions 92.39% · other public 0.32%

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.

Annual general meeting, 12 Aug 2025, 6 resolutions

21,322 shareholders on the register on 5 Aug 2025; present: 16 promoters and 62 others; votes counted by Malati Kumar / S N Ananthasubramanian & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: (a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Directors and the Auditors thereon; and (b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, and the Report of the Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 51.75% · promoters 71.94% · institutions 99.74% · other public 0.39%

  2. To declare Final Dividend of Rs. 2/- per equity share of face value of Rs. 1/- each on equity shares for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 51.75% · promoters 71.94% · institutions 99.74% · other public 0.39%

  3. To appoint a Director in place of Shri Shekhar Bajaj (DIN: 00089358 ), who retires by rotation and being eligible, has offered himself for reappointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 51.75% · promoters 71.94% · institutions 99.74% · other public 0.39%

  4. To appoint M/s. S.N. Ananthasubramanian & Co., Company Secretaries, as Secretarial Auditors for the term of 5 (five) consecutive years.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 51.75% · promoters 71.94% · institutions 99.74% · other public 0.39%

  5. To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.28%

    Turnout: all 51.75% · promoters 71.94% · institutions 99.74% · other public 0.39%

  6. To Appoint of Shri. Vandan Sitaram Shah (DIN: 00759570) as a Director of the company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 51.75% · promoters 71.94% · institutions 99.74% · other public 0.39%

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.

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
Yes
The company has a risk management committee
No
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.