Diamond Power Infrastructure MD, chairman, board of directors and AGM
NSE: DIACABSBSE: 522163Electrical EquipmentSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹326.65.
- Delivery only: shares bought must be paid for in full, with no selling on the same day.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹18,842 Cr622nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 13 Aug 2026
- 95.9
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
- Shares changed
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business.
- Net worth zero or below
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 13 Aug 2026
- 12.2%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- Net worth zero or below
- Volume, NSEVolume. Shares traded on the last trading day.
- 12,38,572
Diamond Power Infrastructure 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
- ChairpersonMaheswar Sahu
- Company Secretary and Compliance OfficerJayesh Patel
5 directors3 independent2 non-executive
- Maheswar Sahu · ChairpersonIndependent · joined Sep 2022 · reappointed Sep 2025 · 45 months as independent · 6 listed boards · 5 as independent · 5 committee seats, 4 as chair
- Rakesh Ramanlal ShahNon-executive · joined Sep 2022 · reappointed Sep 2022 · 2 listed boards · 3 committee seats
- Himanshu Jayantilal ShahNon-executive · joined Sep 2022 · reappointed Sep 2022 · 1 listed board · 2 committee seats, 1 as chair
- Rabindra Nath NayakIndependent · joined Sep 2022 · reappointed Sep 2022 · 45 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 1 as chair
- Varsha Biswajit AdhikariIndependent · joined Oct 2023 · reappointed Oct 2023 · 32 months as independent · 5 listed boards · 5 as independent · 5 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.
3 directors who left
- Samir Naik, left 25 May 2026: Others
- Vinod Jain, left 27 May 2025: Others
- Pawan Kumar Lohiya, left 11 Oct 2024: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 18 Jun 20265 of 5 present3 independent · 11 days in between
- 6 Jun 20263 of 5 present3 independent · 10 days in between
- 26 May 20265 of 5 present3 independent · 100 days in between
- 14 Feb 20266 of 6 present3 independent
Audit Committee
Chair Maheswar Sahu
Rabindra Nath Nayak, Himanshu Jayantilal Shah, Varsha Biswajit Adhikari
1 meeting of 3 without a quorum
- 18 Jun 20264 of 4 present3 independent · 22 days in between · quorum not met
- 26 May 20264 of 4 present3 independent · 100 days in between
- 14 Feb 20264 of 4 present3 independent
Nomination and remuneration committee
Chair Rabindra Nath Nayak
Maheswar Sahu, Rakesh Ramanlal Shah
- 6 Jun 20262 of 3 present1 independent · 10 days in between
- 26 May 20263 of 3 present2 independent · 100 days in between
- 14 Feb 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Himanshu Jayantilal Shah
Rakesh Ramanlal Shah, Varsha Biswajit Adhikari
1 meeting of 2 without a quorum
- 26 May 20263 of 3 present1 independent · 100 days in between · quorum not met
- 14 Feb 20262 of 3 present2 independent
Risk Management Committee
Chair Rabindra Nath Nayak
Varsha Biswajit Adhikari, Umesh Chhaya
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Rakesh Ramanlal Shah
Himanshu Jayantilal Shah, Maheswar Sahu
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 Jun 2026.
- Naresh & CoPeer-review certificate valid to Oct 2027
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.
Diamond Power Infrastructure 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.Diamond Power Infrastructure share news and announcements
Annual general meeting, 25 Sep 2026
78,121 shareholders on the register on 18 Sep 2026; present: 12 promoters and 48 others; votes counted by Ashish Shah / Ashish Shah & Associates.The company's voting result (opens in a new tab)
- Adoption of Financial Statements of the audited standalone financial statements of the Company for the financial year ended on March 31, 2026Ordinary97.61% for2.39% against
Against: promoters 0.00% · institutions 15.84% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Adoption of Financial Statements of the audited consolidated financial statements of the Company for the financial year ended on March 31, 2026Ordinary97.61% for2.39% against
Against: promoters 0.00% · institutions 15.84% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Re-appointment of Mr. Rakesh Ramanlal Shah (DIN: 00421920) who retires by rotation at this Annual General Meeting and being eligible, offers himself for reappointmentOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.06% · other public 0.13%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Appointment of Mr. Umeshkumar Chhaya (DIN: 11881011) as Director of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Appointment of Mr. Umeshkumar Chhaya as the Whole-time Director (DIN: 11881011) of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Ratification of Remuneration of Cost Auditors of the Company for the FY 2026-27Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Shifting of the Registered Office of the Company from Vadodara to AhmedabadSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Approval of remuneration payable to Mr. Maheswar Sahu, (DIN: 00034051) Chairman and Non-Executive Independent Director, for FY 2026-27Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
- Approval of remuneration payable to Mr. Rabindra Nath Nayak (DIN: 02658070), Non-Executive Independent Director, for FY 2026-27.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.14%
Turnout: all 79.32% · promoters 90.97% · institutions 77.15% · other public 0.23%
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 Jul 2026, 1 resolution
62,985 shareholders on the register on 17 Jun 2026; votes counted by Mr. Ashish Shah / M/s. Ashish Shah & Associates.The company's voting result (opens in a new tab)
- To approve raising funds by way of issuance of Equity Shares through Qualified Institutions Placement (QIP)Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.88%
Turnout: all 76.78% · promoters 90.97% · institutions 14.60% · other public 0.30%
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, 18 Mar 2026, 4 resolutions
52,343 shareholders on the register on 13 Feb 2026; votes counted by Mr. Ashish Shah / M/s. Ashish Shah & Associates.The company's voting result (opens in a new tab)
- To approve Material Related Party Transactions with GSEC Limited, Promoter CompanyOrdinaryPromoters have an interest in it99.66% for0.34% against
Against: promoters 0.00% · institutions 0.00% · other public 0.51%
Turnout: all 0.62% · promoters 0.00% · institutions 41.05% · other public 2.69%
- To approve Material Related Party Transactions with Monarch Infraparks Private Limited, Promoter CompanyOrdinaryPromoters have an interest in it99.66% for0.34% against
Against: promoters 0.00% · institutions 0.00% · other public 0.51%
Turnout: all 0.62% · promoters 0.00% · institutions 41.05% · other public 2.69%
- To approve power of borrowing under section 180(1) (c) of the Companies Act, 2013 not exceeding Rs. 4,000 croreSpecial99.85% for0.15% against
Against: promoters 0.00% · institutions 62.19% · other public 0.56%
Turnout: all 84.64% · promoters 100.00% · institutions 41.05% · other public 2.69%
To consider and approve for Creation/Modification of charges, mortgages, hypothecation on the immovable and movable properties of the Company under section 180 (1) (a) of the Companies Act, 2013 not exceeding Rs. 4,000 croreMoreLess
Special99.85% for0.15% againstAgainst: promoters 0.00% · institutions 62.19% · other public 0.52%
Turnout: all 84.64% · promoters 100.00% · institutions 41.05% · other public 2.69%
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.
Postal ballot, 17 Dec 2025, 1 resolution
54,057 shareholders on the register on 14 Nov 2025; votes counted by Mr. Ashish Shah / M/s. Ashish Shah & Associates.The company's voting result (opens in a new tab)
- To approve raising of funds by way of issuance of Equity Shares through Qualified Institutions Placement (QIP)Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.25% · promoters 100.00% · institutions 24.05% · other public 6.54%
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 2025, 14 resolutions
53,749 shareholders on the register on 19 Sep 2025; present: 11 promoters and 32 others; votes counted by Mr. Ashish Shah / M/s. Ashish Shah & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the – a. audited standalone financial statements of the Company for the financial year ended on March 31, 2025 together with the Reports of the Board of Directors and Auditors thereon; and b. audited consolidated financial statements of the Company for the financial year ended on March 31, 2025 together with the report of Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To re-appoint Mr. Himanshu Jayantilal Shah (DIN: 00572684) who retires by rotation at this Annual General Meeting and being eligible, offers himself for reappointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- Regularization of Mr. Samir Naik (DIN: 11208141) as Director of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To appoint Mr. Samir Naik as the Whole-time Director (DIN: 11208141) of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To approve re-appointment of Mr. Maheswar Sahu as Non-Executive Independent Director (DIN: 0034051) of the Company to hold office for second term of three yearsSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To approve re-appointment of Mr. Rabindra Nath Nayak as Non-Executive Independent Director (DIN: 02658070) of the Company to hold office for second term of three yearsSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To approve appointment of CS Ashish Shah, Practicing Company Secretary and Proprietor of M/s Ashish Shah & Associates, Ahmedabad as Secretarial Auditor of the Company for a first term of five yearsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To ratify the remuneration of Cost Auditors of the Company for the financial year 2025-26.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To consider and approve the remuneration payable to Mr. Maheswar Sahu, Chairman & Non-Executive Independent Director (DIN: 0034051) of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To consider and approve the remuneration payable to Mr. Rabindra Nath Nayak, Non-Executive Independent Director (DIN: 02658070) of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To approve material modification in material related party transactions with GSEC Limited, Promoter CompanyOrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 0.71% · promoters 0.00% · institutions 6.58% · other public 4.22%
- To approve material modification in material related party transactions with Monarch Infraparks Private Limited, Promoter CompanyOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.71% · promoters 0.00% · institutions 6.58% · other public 4.22%
To approve for making loans to any person or other bodies corporate; and/or give any guarantee or provide security in connection with a loan to any other body corporate or person; and/or acquire by way of subscription, purchase or otherwise securities of any body’s corporate up to Rs. 1000 Crores.MoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
- To approve Amendments in the Memorandum of Association (MOA) of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.73% · promoters 100.00% · institutions 6.58% · other public 4.22%
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.
Extraordinary general meeting, 15 Nov 2024, 5 resolutions
Present: 11 promoters and 30 others.The company's voting result (opens in a new tab)
- Regularization of Mr. Vinod Jain (DIN: 08204721) as Director of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 90.71% · promoters 100.00% · institutions 0.00% · other public 7.08%
- To appoint Mr. Vinod Jain as the Whole-time Director (DIN: 08204721) of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 90.71% · promoters 100.00% · institutions 0.00% · other public 7.08%
- Sub-division (Stock Split) of every 1 (One) equity share of face value of Rs. 10/- each into 10 (Ten) equity shares of Face Value of Re. 1/- each.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 90.71% · promoters 100.00% · institutions 0.00% · other public 7.08%
- Alteration of Capital Clause of the Memorandum of Association of the Company consequent upon Sub Division/ Stock Split.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 90.71% · promoters 100.00% · institutions 0.00% · other public 7.08%
To consider and approve for giving authorization to Board of Directors to advance any loan, give any guarantee or to provide any security to all such person specified under section 185 of the Companies Act, 2013 up to an aggregate limit of Rs. 200 crores.MoreLess
SpecialPromoters have an interest in it99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 0.71% · promoters 0.00% · institutions 0.00% · other public 7.08%
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, 27 Sep 2024, 12 resolutions
Present: 14 promoters and 24 others.The company's voting result (opens in a new tab)
- To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended 31 March, 2024 together with the Reports of the Board of Directors and Auditors thereon;Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 91.39% · promoters 99.47% · institutions 0.00% · other public 13.66%
- To appoint a Director in place of Mr. Rakesh Ramanlal Shah (DIN: 00421920) who retires by rotation at this Annual General Meeting and being eligible, offers himself for reappointment.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 91.39% · promoters 99.47% · institutions 0.00% · other public 13.66%
- To appoint a Director in place of Mr. Himanshu Jayantilal Shah (DIN: 00572684) who retires by rotation at this Annual GeneralnMeeting and being eligible, offers himself for reappointment.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 91.39% · promoters 99.47% · institutions 0.00% · other public 13.66%
- Regularization of Mr. Pawan Lohiya (DIN: 03379216) as Director of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 91.39% · promoters 99.47% · institutions 0.00% · other public 13.66%
- To appoint Mr. Pawan Lohiya as the Whole-time Director (DIN:03379216) of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 91.39% · promoters 99.47% · institutions 0.00% · other public 13.66%
- To ratify the remuneration of Cost Auditors of the Company for the Financial year 2024-25.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.09%
Turnout: all 91.39% · promoters 99.47% · institutions 0.00% · other public 13.65%
- To consider and approve the remuneration payable to Mr. Maheswar Sahu, (DIN: 0034051) Chairman & Non-Executive IndependentnDirector of the Company.Special99.84% for0.16% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 1.32% · promoters 0.05% · institutions 0.00% · other public 13.66%
- To consider and approve the remuneration payable to Mr. Rabindra Nath Nayak (DIN: 02658070) Non-Executive Independent Directornof the Company.Special99.84% for0.16% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 1.32% · promoters 0.05% · institutions 0.00% · other public 13.66%
- To approve material related party transactions with GSEC Limited, Promoter CompanyOrdinaryPromoters have an interest in it99.84% for0.16% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 1.28% · promoters 0.00% · institutions 0.00% · other public 13.66%
- To approve material related party transactions with Monarch Infraparks Private Limited, Promoter CompanyOrdinaryPromoters have an interest in it99.81% for0.19% against
Against: promoters 0.00% · institutions 0.00% · other public 0.19%
Turnout: all 1.28% · promoters 0.00% · institutions 0.00% · other public 13.66%
- To approve material related party transactions with Premjayanti Enterprises Private Limited, Subsidiary Company of M/s. MonarchnInfraparks Private Limited, Promoter CompanyOrdinaryPromoters have an interest in it99.84% for0.16% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 1.28% · promoters 0.00% · institutions 0.00% · other public 13.66%
To consider and approve for making loans to any person or other bodies corporate; and/or give any guarantee or provide security innconnection with a loan to any other body corporate or person; and/or acquire by way of subscription, purchase or otherwisensecurities of any body’s corporate up to ¿ 500 Crores.MoreLess
SpecialPromoters have an interest in it99.79% for0.21% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.21%
Turnout: all 1.28% · promoters 0.00% · institutions 0.00% · other public 13.66%
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, 14 Dec 2023, 2 resolutions
The company's voting result (opens in a new tab)
- Appointment of Ms. Varsha Biswajit Adhikari (DIN: 08345677) as a Woman Independent Director for the First Term for a period of Five years.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 95.46% · promoters 100.00% · institutions 0.00% · other public 34.94%
- Appointment of Mr. Aditya Satyaprasad Nayak (DIN: 09572942) CFO (In-charge) of the Company as an Executive Director for the term of one year and payment of remuneration.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 95.46% · promoters 100.00% · institutions 0.00% · other public 34.95%
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.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 25 Sep 2026, 4 fund houses so far (houses' deadline to file 15 Oct 2026)
- Adoption of Financial Statements of the audited standalone financial statements of the Company for the financial year ended on March 31, 2026
Against HSBC Mutual Fund
- HSBC Mutual FundA vote AGAINST these resolutions is warranted given the auditors' qualified opinion on the company's financial statements.
3 for1 against - Adoption of Financial Statements of the audited consolidated financial statements of the Company for the financial year ended on March 31, 2026
Against HSBC Mutual Fund
- HSBC Mutual FundA vote AGAINST these resolutions is warranted given the auditors' qualified opinion on the company's financial statements.
3 for1 against - Re-appointment of Mr. Rakesh Ramanlal Shah (DIN: 00421920) who retires by rotation at this Annual General Meeting and being eligible, offers himself for reappointment4 for0 against
- Appointment of Mr. Umeshkumar Chhaya (DIN: 11881011) as Director of the Company4 for0 against
- Appointment of Mr. Umeshkumar Chhaya as the Whole-time Director (DIN: 11881011) of the Company4 for0 against
- Ratification of Remuneration of Cost Auditors of the Company for the FY 2026-274 for0 against
- Shifting of the Registered Office of the Company from Vadodara to Ahmedabad4 for0 against
- Approval of remuneration payable to Mr. Maheswar Sahu, (DIN: 00034051) Chairman and Non-Executive Independent Director, for FY 2026-274 for0 against
- Approval of remuneration payable to Mr. Rabindra Nath Nayak (DIN: 02658070), Non-Executive Independent Director, for FY 2026-27.4 for0 against
Mutual fund votes, meeting of 19 Jul 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)
- To approve raising funds by way of issuance of Equity Shares through Qualified Institutions Placement (QIP)1 for0 against
1 earlier meeting
Mutual fund votes, meeting of 18 Mar 2026, 6 fund houses
- To approve Material Related Party Transactions with GSEC Limited, Promoter Company6 for0 against
- To approve Material Related Party Transactions with Monarch Infraparks Private Limited, Promoter Company6 for0 against
- To approve power of borrowing under section 180(1) (c) of the Companies Act, 2013 not exceeding Rs. 4,000 crore6 for0 against
To consider and approve for Creation/Modification of charges, mortgages, hypothecation on the immovable and movable properties of the Company under section 180 (1) (a) of the Companies Act, 2013 not exceeding Rs. 4,000 croreMoreLess
6 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes
Reported in the filing for the quarter to Jun 2026.
- Tax disputeState Tax Officer (1), Bhilad Mobile Squad, Division-8, VapiSince 11 Jun 2024
The same has been decided by the Honourable Deputy Commissioner (Appeals) of State Tax against the Company by way of rejection of appeal and the Company has preferred an appeal before the Honourable GSTAT.No Change in Status during the quarter ended 30.06.2026.MoreLess
At the filing before: The Company has preferred an Appeal before the Hon’ble Deputy Commissioner (Appeals) of State Tax, Vadodara against levy of 200% Penalty of Rs. 14,00,824/- under Section 129(1)(a) of the CGST Act, 2017 read with similar provisions of the State GST Act by the State Tax Officer simply on account of a clerical error in mentioning the address of the consignee and selecting the E-Way Bill transaction type as ‘Bill to Ship to’ in the E-Way Bill. The same pertains to movement of goods during FY 2024-25.MoreLess
- Tax disputeState Tax Officer, Ghatak-40, Range-10, Division-5, VadodaraSince 30 Sep 2023The same is pending before the Hon’ble Deputy Commissioner (Appeals) of State Tax, Vadodara. No Change in Status during the quarter ended 30.06.2026.
At the filing before: An Appeal has been preferred against the Order passed for FY 2017-18 by the State Tax Officer before the Hon’ble Deputy Commissioner (Appeals) of State Tax, Vadodara against the confirmation of demand of Rs. 41,43,244/- plus interest of Rs. 41,43,244/- and a penalty of Rs. 4,14,324/- for confirmation of demand on the alleged difference of ITC availed when compared to GSTR-9, Ineligible ITC availment under Section 17(5), 16(4) and from dealers who have filed NIL Returns. The Honourable National Company Law Tribunal, Ahmedabad vide IA/160(AHM)2022 in CP(IB) 137 of 2018 while sanctioning the resolution plan of M/s. GSEC Ltd. for Corporate Debtor held as under: “As far as reliefs and concessions claimed by the resolution applicant, the law has been well settled by the Hon'ble Supreme Court in the case of Ghanashyam Mishra and Sons Private Limited Vs. Edelweiss Asset Reconstruction Company Limited and Ors. reported in MANU/SC/0273/2021 in the following words: (i)“The legislative intent behind this is, to freeze all the claims so that the resolution applicant starts on a clean slate and is not flung with any surprise claims. If that is permitted, the very calculations on the basis of which the resolution applicant submits its plans, would go haywire and the plan would be unworkable. (ii)We have no hesitation to say, that the word "other stakeholders" would squarely cover the Central Government, any State Government or any local authorities. The legislature, noticing that on account of obvious omission, certain tax authorities were not abiding by the mandate of I&B Code and continuing with the proceedings, has brought out the 2019 amendment so as to cure the said mischief… 17. In view of the above, all past claims would stand extinguished. However, as far as various statutory rights vested with the Corporate Debtor in form of various licenses, leases, and others alike matter, we make it clear that the successful resolution applicant has to approach the concerned statutory authority for those concessions and those authorities will consider the same as per their established procedure.” Thus, the Insolvency and Bankruptcy Code, 2016 - Section 238 thereof stipulating that provisions of aforesaid Code have overriding effect on any other law for time being in force - Non obstante clause in Section 238 ibid and word ‘shall’ used in Section 31(1) ibid makes it abundantly clear that a resolution plan approved by committee of creditors and further approved by National Company Law Tribunal would be binding on all creditors including Central Government, any State Government or any local authority to whom a debt in respect of payment of dues arising under any law for time being in force. Accordingly, no liability though exists on the part of the company, the demand has been created in Electronic Liability Register and hence the same has been shown as contingent liability.MoreLess
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
- 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
- Yes
- 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
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.