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Euro Panel Products MD, chairman, board of directors and AGM

NSE: EUROBONDBSE: 544461Industrial ProductsSmall Cap

Last close ₹125.45down ₹3.31 (2.57%)BSE ₹128.90

Share price at the NSE close on 23 Oct 2026. Previous close ₹128.76.

52-week range of traded prices to 23 Oct 2026
₹121.30Low, 23 Oct 2026₹225.00High, 10 Nov 2025
Market cap
₹307 Cr1,943rd largest listed
P/E
12.0
P/B
1.9
Dividend yield
Nonein the last 12 months
ROE
17.5%
ROCE
14.8%
Debt to equity
0.97
Volume, NSE
9,33367.6% delivered

Euro Panel Products 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 directorRAJESH NANALAL SHAHRelated to the promoter

4 directors1 independent3 executive

  • RAJESH NANALAL SHAH · Chairperson and managing directorExecutive · joined Dec 2013 · reappointed Aug 2021 · 151 months as independent · 1 listed board · 1 committee seat
  • DIVYAM RAJESH SHAHExecutive · joined Aug 2014 · reappointed Aug 2021 · 143 months as independent · 1 listed board · 1 committee seat
  • BARKHARANI HARSH NEVATIAIndependent · joined Aug 2021 · reappointed Aug 2021 · 59 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
  • KRISHNA RAJESH SHAHExecutive · joined May 2025 · reappointed Sep 2025 · 14 months as independent · 1 listed board

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
  • VAIBHAV CHETAN SHAH, left 26 May 2026: Others
  • DAISY CYRIL DSOUZA, left 22 May 2026: Others

Committees and meetings

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

  • Board

    • 22 May 20265 of 6 present2 independent · 61 days in between
    • 21 Mar 20266 of 6 present3 independent · 36 days in between
    • 12 Feb 20266 of 6 present3 independent · 36 days in between
    • 6 Jan 20266 of 6 present3 independent

  • Audit Committee

    BARKHARANI HARSH NEVATIA, RAJESH NANALAL SHAH

    • 22 May 20263 of 3 present2 independent · 98 days in between
    • 12 Feb 20263 of 3 present2 independent · 36 days in between
    • 6 Jan 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair BARKHARANI HARSH NEVATIA

    • 22 May 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair BARKHARANI HARSH NEVATIA

    DIVYAM RAJESH SHAH

    • 12 Feb 20262 of 3 present2 independent

  • Risk Management Committee

    Chair RAJESH NANALAL SHAH

    DIVYAM RAJESH SHAH

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    • 22 May 20263 of 3 present1 independent · 98 days in between

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 Jogin Raval & AssociatesPeer-review certificate valid to May 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.

Euro Panel Products 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.Euro Panel Products share news and announcements

Annual general meeting, 28 Sep 2026

3,243 shareholders on the register on 21 Sep 2026; present: 7 promoters and 39 others; votes counted by Kala Agarwal / Kala Agarwal.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Board of Directors’ and of the Auditor’s thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

  2. To appoint a director in place of Mr. Rajesh Nanalal Shah (DIN: 02038392), Managing Director, who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

  3. Ratification of remuneration payable to cost auditors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

  4. To approve re-appointment of Mr. Rajesh Nanalal Shah as Managing 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 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

  5. To approve re-appointment of Mr. Divyam Rajesh Shah as 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 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

  6. Appointment of Mr. Rajesh Nagardas Gandhi (DIN: 02644916) as Non-Executive Independent Director.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

  7. Appointment of Mr. Samarth Ishwar Bhimani (DIN: 11873660) as Non-Executive Independent Director.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.80% · promoters 100.00% · institutions 0.00% · other public 51.38%

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, 15 Sep 2025, 7 resolutions

2,073 shareholders on the register on 8 Sep 2025; present: 6 promoters and 32 others; votes counted by Kala Agarwal / Kala Agarwal.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Report of the Board of Directors' and of the Auditors' thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

  2. To appoint a Director in place of Mr. Divyam Rajesh Shah (DIN: 05129462), Whole Time Director, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

  3. Ratification of remuneration payable to cost auditors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

  4. To approve appointment of Mrs. Krishna Rajesh Shah as Executive Director of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

  5. To Appoint Ms. Kala Agarwal, Practicing Company Secretary as Secretarial Auditors, for a Period of Five (5) Years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

  6. Creation of Charges on the movable and immovable properties of the Company, both present and future, in respect of borrowings.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

  7. Increase in Borrowing Powers of the Board of Directors pursuant to Section 180(1)(c) of the Companies Act, 2013.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.33% · promoters 99.95% · institutions 0.00% · other public 50.91%

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, 20 Feb 2025, 2 resolutions

1,066 shareholders on the register on 15 Jan 2025; votes counted by KALA AGARWAL / PCS KALA AGARWAL.The company's voting result (opens in a new tab)

  1. Migration of Listing / Trading of Equity Shares of the Company from SME Platform (Emerge) of National Stock Exchange of India Limited (NSE) to Main Board of NSE
    Special
    100.00% for0.00% against

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

    Turnout: all 81.51% · promoters 100.00% · institutions 0.00% · other public 49.50%

  2. Direct Listing from National Stock Exchange of India Limited Emerge Platform to BSE Limited Main Board
    Special
    100.00% for0.00% against

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

    Turnout: all 81.51% · promoters 100.00% · institutions 0.00% · other public 49.50%

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, 28 Sep 2024, 3 resolutions

Present: 6 promoters and 26 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements ofnthe Company for the Financial Year ended 31st March, 2024, togethernwith the Report of the Board of Directors’ and of the Auditors’nthereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.18% · promoters 100.00% · institutions 0.00% · other public 40.40%

  2. To appoint a director in place of Mr. Rajesh Nanalal Shah (DIN:n02038392), Managing Director, who retires by rotation and beingneligible, offers himself for re-appointment
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.18% · promoters 100.00% · institutions 0.00% · other public 40.40%

  3. Ratification of remuneration payable to cost Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.18% · promoters 100.00% · institutions 0.00% · other public 40.40%

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, 25 Sep 2023, 6 resolutions

Present: 6 promoters and 29 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31,2023, together with the Report of the Board of Directors' and of the Auditor's thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 78.69% · promoters 100.00% · institutions 0.00% · other public 42.69%

  2. To appoint a director in place of Mr. Divyam Rajesh Shah (DIN: 05129462), Whole time director, who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 78.69% · promoters 100.00% · institutions 0.00% · other public 42.69%

  3. Appointment of Mr. Vaibhav Chetan Shah (DIN: 09759573) as an Independent Director of the Company
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 78.69% · promoters 100.00% · institutions 0.00% · other public 42.69%

  4. Revision of Managerial Remuneration of Mr. Rajesh Nanalal Shah
    SpecialPromoters have an interest in it
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.18%

    Turnout: all 78.69% · promoters 100.00% · institutions 0.00% · other public 42.69%

  5. Revision of Managerial Remuneration of Mr. Divyam Rajesh Shah
    SpecialPromoters have an interest in it
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.18%

    Turnout: all 78.69% · promoters 100.00% · institutions 0.00% · other public 42.69%

  6. Ratification of remuneration payable to cost auditors
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 78.69% · promoters 100.00% · institutions 0.00% · other public 42.69%

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.

Annual general meeting, 9 Sep 2022, 5 resolutions
  1. Ratification of remuneration payable to Cost Auditors
    Ordinary
    100.00% for0.00% against
  2. Appointment of Ms. Daisy Dsouza ( DIN: 09348309) as an Independent Director of the Company.
    Ordinary
    100.00% for0.00% against
  3. To re-appoint M/s. Jogin Raval & Associates, Chartered Accountants, Mumbai ( Firm Registration No. 128586W), as Statutory Auditors of the Company.
    Ordinary
    100.00% for0.00% against
  4. To appoint a Director in place of Mr. Rajesh Nanalal Shah (DIN: 02038392), Chairman & Managing Director, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against
  5. To receive,consider and adopt the Audited Financial Statements of the Company for the Financial year ended 31st March,2022, together with the Report of the Board of Directors and of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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
Yes
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.