Ballarpur Industries MD, chairman, board of directors and AGM

BSE: 500102Paper, Forest & Jute Products

Trading suspended since 23 Jun 2023

Last traded ₹0.85 on 22 Jun 2023

Ballarpur Industries 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

  • ChairpersonHardik Bharat PatelRelated to the promoter

6 directors3 independent2 executive1 non-executive

  • Hardik Bharat Patel · ChairpersonExecutive · joined Jun 2023 · reappointed Jun 2023 · 3 listed boards · 3 committee seats
  • Parashiva Murthy B SNon-executive · joined Jun 2023 · reappointed Jun 2023 · 1 listed board · 2 committee seats
  • Kulandaipaian ThangarajuIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Panchapakesan SwaminathanIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
  • Alok PrakashExecutive · joined Aug 2025 · reappointed Aug 2025 · 0 months as independent · 1 listed board
  • Shweta Jayant JainIndependent · joined Nov 2025 · reappointed Nov 2025 · 7 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 2 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.

2 directors who left
  • Yeddala Kesava Reddy, left 31 Jul 2025: Others
  • Runel Saxena, left 30 Jul 2025: Others

Committees and meetings

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

  • Board

    • 22 May 20266 of 6 present3 independent · 97 days in between
    • 13 Feb 20266 of 6 present3 independent

  • Audit Committee

    Chair Panchapakesan Swaminathan

    Kulandaipaian Thangaraju, Parashiva Murthy B S

    • 22 May 20263 of 3 present2 independent · 97 days in between
    • 13 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Kulandaipaian Thangaraju

    Panchapakesan Swaminathan, Parashiva Murthy B S

    • 22 May 20263 of 3 present2 independent · 97 days in between
    • 13 Feb 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Panchapakesan Swaminathan

    Hardik Bharat Patel, Parashiva Murthy B S

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Kulandaipaian Thangaraju

    Hardik Bharat Patel, Parashiva Murthy B S

    No meeting listed in the filing.

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.

  • BATLIBOI & PUROHITPeer-review certificate valid to Apr 2028

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.

Ballarpur Industries 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.Ballarpur Industries dividend history

Annual general meeting, 25 Sep 2026

67,150 shareholders on the register on 18 Sep 2026; present: 1 promoter and 56 others; votes counted by VIRAL B SANGHAVI / VIRAL SANGHAVI AND ASSOCIATES.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements [including consolidated financial statements] of the Company for the financial year ended March 31, 2026, and the reports of the Board of Directors (‘the Board’) and auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.96%

  2. Re-appointment of Mr. Parashiva Murthy B S (DIN:00011584) as Non-Executive Director of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.96%

  3. To consider and approve the proposed sale/disposal of the Company’s non-core assets
    Special
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.96%

  4. To consider and approve material related party transactions with Mr. Hardik Bharat Patel (Chairman & Whole Time Director) under Companies Act, 2013 and SEBI Listing Regulations.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.96%

  5. To consider and approve material related party transactions with Finquest Financial Solutions Private Limited under Companies Act, 2013 and SEBI Listing Regulations.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.96%

  6. Ratification of remuneration to Cost Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.96%

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, 11 May 2026, 6 resolutions

67,151 shareholders on the register on 4 May 2026; present: 1 promoter and 48 others; votes counted by VIRAL SANGHAVI / VIRAL SANGHAVI & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Ordinary Resolution for adoption of the audited financial statements [including consolidated financial statements] of the Company for the financial year ended March 31, 2025, and the reports of the Board of Directors (‘the Board’) and auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 90.13% · promoters 100.00% · institutions 0.08% · other public 86.99%

  2. Ordinary Resolution for re-appointment of Mr. Hardik Bharat Patel (DIN: 00590663) as Whole Time Director of the Company
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 39.12% · promoters 0.00% · institutions 0.00% · other public 86.99%

  3. Ordinary Resolution for appointment of Statutory Auditors and to fix their remunerations.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 90.12% · promoters 100.00% · institutions 0.00% · other public 86.99%

  4. Special Resolution for appointment of Ms. Shweta Jain (DIN: 07872968) as Non-Executive Independent Director of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 90.13% · promoters 100.00% · institutions 0.08% · other public 86.99%

  5. Ordinary Resolution for rectification of remuneration of Cost Auditors.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 90.12% · promoters 100.00% · institutions 0.00% · other public 86.99%

  6. Ordinary Resolution for appointment of Secretarial Auditor and to fix their remuneration
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 90.12% · promoters 100.00% · institutions 0.00% · other public 86.99%

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, 3 Nov 2025, 2 resolutions

67,151 shareholders on the register on 27 Oct 2025; present: 4 promoters and 58 others; votes counted by VIRAL SANGHAVI / VIRAL SANGHAVI & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including consolidated financial statements) of the Companyfor the financial year ended March 31, 2023 and the reports of the Board of Directors and audiors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.95%

  2. To ratify the remuneration of cost auditor
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.11% · promoters 100.00% · institutions 0.00% · other public 86.95%

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, 30 Mar 2025, 5 resolutions

67,153 shareholders on the register on 21 Feb 2025; votes counted by VIRAL SANGHAVI / VIRAL SANGHAVI & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To issue, offer and allot 0.01% unlisted Non Cumulative Redeemable Preference Shares on private placement basis
    SpecialPromoters have an interest in it
    95.16% for4.84% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.84%

    Turnout: all 0.07% · promoters 0.00% · institutions 0.00% · other public 0.14%

  2. To increase borrowing limit of the Company in terms of Section 180(1)(c) of the Companies Act, 2013
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.12%

    Turnout: all 51.07% · promoters 100.00% · institutions 0.00% · other public 0.14%

  3. To increase the limit for selling, leasing or disposing of Assets and Creating Charge/ Security over Company Assets in terms of Section 179 and 180(1)(a) of the Companies Act 2013
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 8.63%

    Turnout: all 51.07% · promoters 100.00% · institutions 0.00% · other public 0.14%

  4. To approve the material related party transactions with Mr. Hardik Bharat Patel (Whole Time Director) under Companies Act, 2013 and SEBI Listing Regulations
    SpecialPromoters have an interest in it
    93.98% for6.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.02%

    Turnout: all 0.07% · promoters 0.00% · institutions 0.00% · other public 0.14%

  5. To approve the material related party transactions with Finquest Financial Solutions Private Limited under Companoes Act, 2013 and SEBI Listing Regulation
    SpecialPromoters have an interest in it
    95.03% for4.97% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.97%

    Turnout: all 0.07% · promoters 0.00% · institutions 0.00% · other public 0.14%

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, 19 Dec 2024, 4 resolutions

The company's voting result (opens in a new tab)

  1. Reclassification of Authorized Share Capital and consequent Alteration of Memorandum of Association of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 90.14% · promoters 100.00% · institutions 0.00% · other public 87.03%

  2. Alteration of Articles of Association of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 90.14% · promoters 100.00% · institutions 0.00% · other public 87.03%

  3. Issue, offer and allot 0.01% Non-Cumulative Non-Convertible Redeemable Preference Shares on private placement basis.
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 39.14% · promoters 0.00% · institutions 0.00% · other public 87.03%

  4. Appointment of Ms. Runel Saxena (DIN: 10424170) as a Non-Executive Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 90.14% · promoters 100.00% · institutions 0.00% · other public 87.03%

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, 10 Sep 2024, 11 resolutions

Present: 4 promoters and 38 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including consolidated financial statements) of the Company for the financial year ended March 31, 2020, and the reports of the Board of Directors ('the Board') and auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  2. Appointment of Statutory Auditors and to fix their remuneration
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  3. Appointment of Mr. Hardik B. Patel (DIN: 00590663) 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 0.00%

    Turnout: all 39.08% · promoters 0.00% · institutions 0.08% · other public 86.88%

  4. Appointment of Mr. Hardik B. Patel (DIN: 00590663) as a Chairman and Whole-Time Director of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 39.08% · promoters 0.00% · institutions 0.08% · other public 86.88%

  5. Appointment of Mr. Parashiva Murthy B S (DIN: 00011584) as the Non-Executive, Non-Independent Director of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  6. Appointment of Mr. Yeddala Kesava Reddy (DIN: 10586100) as a Director
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  7. Appointment of Mr. Yeddala Kesava Reddy (DIN: 10586100) as a Whole Time Director and approval of the terms of remuneration thereof
    Special
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  8. Appointment of Mr. Kulandiapaian Thangaraju (DIN: 10721302) as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  9. Appointment of Mr. Panchapakesan Swaminathan (DIN: 00901560) as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

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

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

  11. Change of Registered Office outside the local limits but within the same jurisdiction of Registrar of Companies
    Special
    100.00% for0.00% against

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

    Turnout: all 90.08% · promoters 100.00% · institutions 0.08% · other public 86.88%

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, 26 Sep 2019, 6 resolutions

Present: 3 promoters and 38 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements
    Ordinary
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 0.13% · other public 1.58%

    Turnout: all 32.81% · promoters 99.61% · institutions 10.14% · other public 13.01%

  2. Reappointment of Mr B Hariharan, Director retiring by rotation
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.68%

    Turnout: all 39.42% · promoters 99.61% · institutions 26.23% · other public 13.01%

  3. Appointment of Branch Auditors
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.58%

    Turnout: all 39.42% · promoters 99.61% · institutions 26.23% · other public 13.01%

  4. Ratification of Remuneration to Cost Auditors
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.58%

    Turnout: all 39.42% · promoters 99.61% · institutions 26.23% · other public 13.01%

  5. Appointment of Independent Director - Mr Rajeev Ranjan Vederah
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.66%

    Turnout: all 39.42% · promoters 99.61% · institutions 26.23% · other public 13.01%

  6. Reappointment of Mr Bhuthalingam Hariharan as Whole-time Director of the Company desiganted as Executive Director
    Special
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.68%

    Turnout: all 39.42% · promoters 99.61% · institutions 26.23% · other public 13.01%

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.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 29 Sep 2016, 1 fund house

  • Approval to appoint Branch Auditors and fix their remuneration
    1 for0 against
  • Ratification of remuneration payable to M/s. Bahadur Murao and Company as Cost Auditors of the Company for the FY ending 31st March, 2017
    1 for0 against

Mutual fund votes, meeting of 30 Sep 2015, 2 fund houses

  • Appointment of Branch Auditors of the Company and fixing their remuneration
    1 for0 against
  • Appointment of Mr. Amrendra Pratap Singh as an Independent Director to hold office for a period of 5 years upto July 9, 2020
    1 for0 against
  • Appointment of Mr. Bhaskaran Nayar Venugopal as Nominee Director of Life Insurance Corporation of India (LIC) on the Company
    1 for0 against
  • Mr. Amrendra Pratap Singh, be and is hereby appointed as an Independent Director of the Company to hold office for 5 (five) consecutive years from the aforesaid date of appointment upto 9th July 2020, not liable to retire by rotationMoreLess
    1 for0 against
  • Mr. Bhaskaran Nayar Venugopal be and is hereby appointed as a Nominee Director of Life Insurance Corporation of India (LIC) on the Board of Directors of the Company, not liable to retire by rotation
    1 for0 against
  • Ratification of remuneration payable to M/s. Bahadur Murao and Company, Cost Auditors of the Company for the FY ending March 31, 2016
    1 for0 against
  • Remuneration of Rs. 45,000 plus applicable taxes and reimbursement for out-of pocket expenses for the financial year ending 31st March, 2016, to be paid to Messrs Bahadur Murao and Company, Cost Accountants, as approved by the Board of Directors of the CompanyMoreLess
    1 for0 against
  • To appoint a Director in place of Mr. Gautam Thapar, who retires by rotation and being eligible, offers himself for reappointment
    1 for0 against
  • To appoint Branch Auditors for auditing the Accounts pertaining to the various Units and / or Branch Offices of the Company, whether existing and / or to be opened / acquired in future and to fix their remunerationMoreLess
    1 for0 against
  • To appoint /s K. K. Mankeshwar & Co., Chartered Accountants, as Statutory Auditors of the Company, to hold office from the conclusion of this Annual General Meeting upto the conclusion of the next Annual General Meeting and to authorise the Board of Directors to fix their remuneration.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundK.K. Maheshwari & Co. has been auditing the company’s accounts for at least the past 18 years, which is neither in line with our Voting Policy nor the spirit of Section 139 of the Companies Act 2013. Under section 139 of the Companies Act 2013, an audit firm’s tenure may extend to a maximum of two consecutive terms of five years each (maximum 10 years). Although the Act has given companies a three-year window to comply, we expect companies to be proactive and start abiding by the spirit of the regulations at the earliest.
    0 for1 against
  • To consider and adopt: (a) the audited financial statements of the Company for the financial year ended 31st March, 2015 together with the Reports of the Board of Directors and Auditors thereon. (b) the audited consolidated financial statements of the Company for the financial year ended 31st March, 2015 together with the Report of the Auditors thereon.MoreLess
    0 for0 against

    1 abstained

  • To declare dividend on the equity shares of the Company for the financial year ended 31st March, 2015.
    1 for0 against
1 earlier meeting

Mutual fund votes, meeting of 19 Dec 2014, 1 fund house

  • Appointment of director, Mr. A S Dulat as an Independent Director to hold office upto 18th December 2019
    1 for0 against
  • Appointment of director, Mr. Ashish Guha as an Independent Director to hold office upto 18th December 2019
    1 for0 against
  • Appointment of director, Mr. Sanjay Labroo as an Independent Director to hold office upto 18th December 2019
    1 for0 against
  • Appointment of director, Ms. Nandini Adya as an Independent Director to hold office upto 10th November 2019
    1 for0 against
  • Authority to the Board of Directors to appoint branch auditors and fix their remuneration
    1 for0 against
  • Creation of mortgage / charge on assets of the Company upto 1600 crores
    1 for0 against
  • Issue of Non- Convertible Compulsorily Redeemable Preference Shares upto Rs. 250 crores on private placement basis
    1 for0 against
  • Issue of Non-convertible Debentures of upto Rs. 250 Crores on private placement basis
    1 for0 against
  • Re-classification of Authorised Share Capital and Alteration of the Memorandum of Association of the Company
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

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

At most 1 complaint open, quarter to Mar 2026.
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
Yes
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.