Godawari Power and Ispat logo

Godawari Power and Ispat MD, chairman, board of directors and AGM

NSE: GPILBSE: 532734Industrial ProductsSmall Cap

Last close ₹192.34down ₹7.20 (3.61%)BSE ₹192.25

Share price at the NSE close on 23 Oct 2026. Previous close ₹199.54.

52-week range of traded prices to 23 Oct 2026
₹189.15Low, 23 Oct 2026₹320.00High, 20 May 2026
Market cap
₹12,949 Cr364th largest listed
P/E
16.1
P/B
2.2
Dividend yield
0.52%
ROE
15.1%
ROCE
17.2%
Debt to equity
0.07
Volume, NSE
11,03,73648.3% delivered

Godawari Power and Ispat 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 directorBajrang Lal Agrawal
  • Company Secretary and Compliance OfficerYarra Chandra Rao

12 directors6 independent5 executive1 non-executive

  • Bajrang Lal Agrawal · Chairperson and managing directorExecutive · joined Aug 2002 · reappointed Aug 2025 · 1 listed board
  • Dinesh Kumar AgrawalExecutive · joined Sep 1999 · reappointed Aug 2022 · 1 listed board
  • Abhishek AgrawalExecutive · joined Nov 2011 · reappointed Nov 2021 · 1 listed board
  • Siddharth AgrawalExecutive · joined Jan 2018 · reappointed Apr 2022 · 2 listed boards · 1 as independent
  • Dinesh Kumar GandhiExecutive · joined Feb 2005 · reappointed Apr 2022 · 2 listed boards · 1 committee seat
  • Vinod PillaiNon-executive · joined Jul 2009 · reappointed Apr 2022 · 1 listed board · 1 committee seat
  • Samir AgarwalIndependent · joined Jul 2022 · reappointed Sep 2022 · 47 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Raj Kamal BindalIndependent · joined Jul 2022 · reappointed Sep 2022 · 47 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Sunil DuggalIndependent · joined May 2024 · reappointed May 2024 · 26 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
  • Roma Ashok BalwaniIndependent · joined May 2024 · reappointed May 2024 · 26 months as independent · 2 listed boards · 2 as independent · 2 committee seats
  • Hukam Chand DagaIndependent · joined Aug 2024 · reappointed Aug 2024 · 23 months as independent · 1 listed board · 1 as independent · 3 committee seats, 1 as chair
  • Neha Sunil HuddarIndependent · joined Aug 2024 · reappointed Aug 2024 · 23 months as independent · 4 listed boards · 4 as independent · 8 committee seats, 3 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.

Committees and meetings

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

  • Board

    • 19 May 202612 of 12 present6 independent · 55 days in between
    • 24 Mar 20269 of 12 present5 independent

  • Audit Committee

    Chair Hukam Chand Daga

    Samir Agarwal, Neha Sunil Huddar, Raj Kamal Bindal

    • 19 May 20264 of 4 present4 independent · 101 days in between
    • 6 Feb 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair Roma Ashok Balwani

    Samir Agarwal, Raj Kamal Bindal

    • 19 May 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Neha Sunil Huddar

    Samir Agarwal, Dinesh Kumar Gandhi

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Sunil Duggal

    Hukam Chand Daga, Abhishek Agrawal, Samir Agarwal, K.V.S.N. Raveendra

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Roma Ashok Balwani

    Abhishek Agrawal, Sunil Duggal, Vinod Pillai

    • 19 May 20264 of 4 present2 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.

  • SINGHI & CO.Peer-review certificate valid to Aug 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.

Godawari Power and Ispat 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.Godawari Power and Ispat dividend history

Annual general meeting, 19 Sep 2026

1,51,591 shareholders on the register on 12 Sep 2026; present: 23 promoters and 39 others; votes counted by CS BRAJESH R AGRAWAL / B.R. AGRAWAL & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone Financial Statements of the Company for the year ended 31st March 2026 along with the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.69% · promoters 92.15% · institutions 90.03% · other public 2.99%

  2. To receive, consider and adopt the Consolidated Financial Statements of the Company for the year ended 31st March 2026 along with the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.69% · promoters 92.15% · institutions 90.03% · other public 2.99%

  3. To appoint a Director in place of Mr. Dinesh Agrawal (DIN: 00479936), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    94.29% for5.71% against

    Against: promoters 0.00% · institutions 41.22% · other public 0.14%

    Turnout: all 63.07% · promoters 84.72% · institutions 90.72% · other public 2.99%

  4. To appoint a Director in place of Mr. Vinod Pillai (DIN: 00497620), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment
    Ordinary
    94.97% for5.03% against

    Against: promoters 0.00% · institutions 39.03% · other public 0.12%

    Turnout: all 67.76% · promoters 92.15% · institutions 90.72% · other public 2.99%

  5. Declaration of Final Dividend of Re. 1/- per equity share of Face Value of Re. 1/- each fully paid for the Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.76% · promoters 92.15% · institutions 90.74% · other public 2.99%

  6. To approve the Re-appointment of Mr. Abhishek Agrawal (DIN: 02434507) as Whole time Director of the Company for a period of 5 years w.e.f. 09/11/2026
    OrdinaryPromoters have an interest in it
    99.51% for0.49% against

    Against: promoters 0.00% · institutions 2.98% · other public 0.09%

    Turnout: all 53.01% · promoters 68.81% · institutions 90.72% · other public 2.99%

  7. To approve the Re-appointment of Mr. Siddharth Agrawal (DIN: 02180571) as Whole time Director of the Company for a period of 5 years w.e.f. 01/04/2027
    OrdinaryPromoters have an interest in it
    87.19% for12.81% against

    Against: promoters 0.00% · institutions 77.68% · other public 0.13%

    Turnout: all 53.01% · promoters 68.81% · institutions 90.72% · other public 2.99%

  8. To approve the Re-appointment of Mr. Dinesh Kumar Gandhi (DIN: 01081155) as Whole time Director of the Company for a perid of 5 years w.e.f. 01/04/2027
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.45% · other public 0.12%

    Turnout: all 67.75% · promoters 92.15% · institutions 90.72% · other public 2.96%

  9. To approve the remuneration of the Cost Auditors for the Financial year ending 31st March 2027
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 67.76% · promoters 92.15% · institutions 90.72% · other public 2.99%

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.

Extraordinary general meeting, 27 Jun 2026, 4 resolutions

1,54,067 shareholders on the register on 20 Jun 2026; present: 17 promoters and 31 others; votes counted by Brajesh R. Agrawal / BR Agrawal & Associates.The company's voting result (opens in a new tab)

  1. Approval for granting of loan aggregating up to Rs. 150.00 crores to Godawari Education and Research Foundation (GERF), Subsidiary of the company under Section 185 of the Companies act, 2013
    SpecialPromoters have an interest in it
    89.62% for10.38% against

    Against: promoters 0.00% · institutions 64.95% · other public 0.11%

    Turnout: all 51.03% · promoters 66.60% · institutions 89.61% · other public 2.87%

  2. Revision in remuneration of Mr. Dinesh Agrawal (DIN: 00479936) Whole- Time Director
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.21%

    Turnout: all 59.66% · promoters 80.26% · institutions 89.61% · other public 2.87%

  3. Revision in remuneration of Mr. Siddharth Agrawal (DIN:02180571) Whole- Time Director
    OrdinaryPromoters have an interest in it
    99.71% for0.29% against

    Against: promoters 0.00% · institutions 1.82% · other public 0.21%

    Turnout: all 51.03% · promoters 66.60% · institutions 89.61% · other public 2.87%

  4. Revision in remuneration of Mr. Abhishek Agrawal (DIN:02434507) Whole- Time Director
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.21%

    Turnout: all 51.03% · promoters 66.60% · institutions 89.61% · other public 2.87%

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, 14 Mar 2026, 1 resolution

1,42,614 shareholders on the register on 7 Mar 2026; present: 23 promoters and 26 others; votes counted by Brajesh R. Agrawal / BR Agrawal & Associates.The company's voting result (opens in a new tab)

  1. To approve the amendment in the Object Clause of the Memorandum of Association of the Company to enable the company to undertake logistics activities
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.03%

    Turnout: all 67.22% · promoters 94.49% · institutions 86.93% · other public 0.16%

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 Oct 2025, 1 resolution

1,50,364 shareholders on the register on 8 Oct 2025; present: 20 promoters and 24 others; votes counted by Brajesh R. Agrawal / BR Agrawal & Associates.The company's voting result (opens in a new tab)

  1. To offer, Issue and allot warrants convertible into equity shares to Promoters and/or to the Members of Promoters’ Group and other Identified Non-Promoters on a preferential basis.
    SpecialPromoters have an interest in it
    97.31% for2.69% against

    Against: promoters 0.00% · institutions 8.72% · other public 9.88%

    Turnout: all 24.33% · promoters 26.51% · institutions 81.67% · other public 0.15%

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, 20 Sep 2025, 8 resolutions

1,48,667 shareholders on the register on 13 Sep 2025; present: 24 promoters and 37 others; votes counted by BRAJESH R. AGRAWAL / B R AGRAWAL & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone Financial Statements of the Company for the year ended 31st March, 2025 along with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 3.13% · other public 2.71%

    Turnout: all 68.17% · promoters 94.13% · institutions 85.04% · other public 2.03%

  2. To receive, consider and adopt the Consolidated Financial Statements of the Company for the year ended 31st March, 2025 along with the reports of the Auditors thereon.
    Ordinary
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 3.13% · other public 2.71%

    Turnout: all 68.17% · promoters 94.13% · institutions 85.04% · other public 2.03%

  3. To appoint a Director in place of Mr. Dinesh Agrawal (DIN: 00479936), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.09% for0.91% against

    Against: promoters 0.00% · institutions 6.77% · other public 2.82%

    Turnout: all 60.59% · promoters 82.09% · institutions 85.78% · other public 2.03%

  4. To appoint a Director in place of Mr. Vinod Pillai (DIN: 00497620), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    Ordinary
    99.19% for0.81% against

    Against: promoters 0.00% · institutions 6.77% · other public 3.70%

    Turnout: all 68.23% · promoters 94.13% · institutions 85.78% · other public 2.03%

  5. Declaration of Final Dividend of Re.1/- per equity share of Face Value of Re.1/- each fully paid for the Financial Year 2024-25
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.78%

    Turnout: all 66.77% · promoters 91.82% · institutions 85.79% · other public 2.03%

  6. To approve the re-appointment of Mr. Bajrang Lal Agrawal (DIN: 00479747), as Chairman-cum-Managing Director of the Company.
    SpecialPromoters have an interest in it
    98.83% for1.17% against

    Against: promoters 0.00% · institutions 6.79% · other public 2.81%

    Turnout: all 45.83% · promoters 59.24% · institutions 83.11% · other public 2.03%

  7. To consider and if thought fit, approve the appointment of CS Tanveer Kaur Tuteja, Practicing Company Secretary, as Secretarial Auditor of the Company for a term of 5 (five) years.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.80%

    Turnout: all 68.23% · promoters 94.13% · institutions 85.76% · other public 2.03%

  8. To approve the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2026.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.84%

    Turnout: all 68.23% · promoters 94.13% · institutions 85.78% · other public 2.03%

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.

Extraordinary general meeting, 11 Dec 2024, 1 resolution

Present: 21 promoters and 20 others.The company's voting result (opens in a new tab)

  1. TO APPROVE THE AMENDMENT IN OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 68.55% · promoters 94.70% · institutions 90.63% · other public 1.81%

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, 21 Sep 2024, 7 resolutions

Present: 25 promoters and 24 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone Financial Statements of the Company for the year ended 31st March, 2024 along with the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 68.43% · promoters 94.70% · institutions 86.35% · other public 2.17%

  2. To receive, consider and adopt the Consolidated Financial Statements of the Company for the year ended 31st March, 2024 along with the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 68.43% · promoters 94.70% · institutions 86.35% · other public 2.17%

  3. To appoint a Director in place of Mr. Abhishek Agrawal (DIN: 02434507), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.45% for0.55% against

    Against: promoters 0.00% · institutions 3.78% · other public 0.23%

    Turnout: all 54.49% · promoters 72.43% · institutions 88.48% · other public 2.17%

  4. To appoint a Director in place of Mr. Dinesh Kumar Gandhi (DIN: 01081155), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    Ordinary
    99.63% for0.37% against

    Against: promoters 0.00% · institutions 3.17% · other public 0.31%

    Turnout: all 68.62% · promoters 94.70% · institutions 88.48% · other public 2.17%

  5. Declaration of Final Dividend of Rs. 5/- per equity share of Face Value of Rs.5/- each fully paid for the Financial year 2023-24.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 68.62% · promoters 94.70% · institutions 88.48% · other public 2.18%

  6. Sub-Division of Equity Shares from the Face Value of Rs.5/- per share to Re.1/- per share
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 68.63% · promoters 94.70% · institutions 88.48% · other public 2.22%

  7. Alteration of the Capital Clause in the Memorandum of Association consequent upon Sub-Division
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 68.62% · promoters 94.70% · institutions 88.48% · other public 2.17%

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, 5 Jul 2024, 4 resolutions

Present: 23 promoters and 26 others.The company's voting result (opens in a new tab)

  1. To appoint Mrs. Neha Sunil Huddar (DIN: 00092245), as Non-Executive Independent Women Director of the company w.e.f. 9th August 2024
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.38% · other public 0.19%

    Turnout: all 68.61% · promoters 94.60% · institutions 86.72% · other public 2.03%

  2. To appoint Mr. Hukam Chand Daga (DIN: 00441914), as Non-Executive Independent Director of the company w.e.f. 9th August 2024
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.38% · other public 0.25%

    Turnout: all 68.61% · promoters 94.60% · institutions 86.72% · other public 2.03%

  3. To approve the Remuneration payable to Non-Executive Directors and Independent Directors of the Company
    Special
    90.99% for9.01% against

    Against: promoters 0.00% · institutions 75.31% · other public 0.34%

    Turnout: all 68.61% · promoters 94.60% · institutions 86.72% · other public 2.03%

  4. To approve the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2025
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 68.61% · promoters 94.60% · institutions 86.72% · other public 2.03%

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.

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 19 Sep 2026, 7 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the Standalone Financial Statements of the Company for the year ended 31st March 2026 along with the reports of the Board of Directors and Auditors thereon
    7 for0 against
  • To receive, consider and adopt the Consolidated Financial Statements of the Company for the year ended 31st March 2026 along with the reports of the Auditors thereon
    7 for0 against
  • To appoint a Director in place of Mr. Dinesh Agrawal (DIN: 00479936), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance Concern: The Company’s remuneration practice is significantly skewed in favour of Promoter Executive Directors including proposed appointee, and no adequate justification / rationale has been provided by the Company for such skewness / disparity.
    • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No governance concern identified w.r.t. the merits of the director. Governance Concern: The Company’s remuneration practice is significantly skewed in favour of Promoter Executive Directors including proposed appointee, and no adequate justification / rationale has been provided by the Company for such skewness / disparity.
    4 for3 against
  • To appoint a Director in place of Mr. Vinod Pillai (DIN: 00497620), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment
    7 for0 against
  • Declaration of Final Dividend of Re. 1/- per equity share of Face Value of Re. 1/- each fully paid for the Financial Year 2025-26.
    7 for0 against
  • To approve the Re-appointment of Mr. Abhishek Agrawal (DIN: 02434507) as Whole time Director of the Company for a period of 5 years w.e.f. 09/11/2026
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance Concern: The Company’s remuneration practice is significantly skewed in favour of Promoter Executive Directors including proposed appointee, and no adequate justification / rationale has been provided by the Company for such skewness / disparity. Low attendance at RMC meetings in aggregate in last thee FYs, since, his appointment in committee, and no compelling reason provided for absence.
    • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No governance concern identified w.r.t. the merits of the director. Governance Concern: The Company’s remuneration practice is significantly skewed in favour of Promoter Executive Directors including proposed appointee, and no adequate justification / rationale has been provided by the Company for such skewness / disparity. Low attendance at RMC meetings in aggregate in last thee FYs, since, his appointment in committee, and no compelling reason provided for absence.
    4 for3 against
  • To approve the Re-appointment of Mr. Siddharth Agrawal (DIN: 02180571) as Whole time Director of the Company for a period of 5 years w.e.f. 01/04/2027
    Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, SBI Mutual Fund
    • Angel One Mutual FundGovernance Concern: The Company’s remuneration practice is significantly skewed in favour of Promoter Executive Directors including proposed appointee, and no adequate justification / rationale has been provided by the Company for such skewness / disparity. Low attendance at Board meetings in aggregate in last thee FYs, and no compelling reason provided for absence.
    • DSP Mutual Fund, Jio BlackRock Mutual FundSiddharth Agrawal, 45, serves as Whole-time Director and is a part of the promoter group. He is responsible for establishing and operating solar capacities within the Group and strengthening GPIL's renewable energy footprint. He was first appointed to the board on 20 January 2018 and was appointed as Whole-time Director on 1 April 2022. He attended five out of seven board meetings (71%) held in FY26, five out of eight board meetings (63%) held in FY25, and four out of five (80%) board meetings held in FY24. His overall attendance over the past three years is 70%. We expect directors to attend all the board meetings or, at a minimum maintain 75% attendance over a rolling three-year period.He received a remuneration of Rs. 34.5 mn for FY26, and we estimate his FY27 remuneration at Rs. 72.0 mn. His remuneration terms are broadly unchanged from the terms approved by shareholders at EGM held on 27 June 2026. The proposed pay is commensurate with the size and scale of company’s operations and peers. However, given the concerns on his attendance, we do not support the resolution.
    • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No governance concern identified w.r.t. the merits of the director. Governance Concern: The Company’s remuneration practice is significantly skewed in favour of Promoter Executive Directors including proposed appointee, and no adequate justification / rationale has been provided by the Company for such skewness / disparity. Low attendance at Board meetings in aggregate in last thee FYs, and no compelling reason provided for absence.
    • SBI Mutual FundSiddharth Agrawal, 45, serves as Whole-time Director and is a part of the promoter group. He is responsible for establishing and operating solar capacities within the Group and strengthening GPIL's renewable energy footprint. He was first appointed to the board on 20 January 2018 and was appointed as Whole-time Director on 1 April 2022. He attended five out of seven board meetings (71%) held in FY26, five out of eight board meetings (63%) held in FY25, and four out of five (80%) board meetings held in FY24. His overall attendance over the past three years is 70%. He received a remuneration of Rs. 34.5 mn for FY26, and we estimate his FY27 remuneration at Rs. 72.0 mn. His remuneration terms are broadly unchanged from the terms approved by shareholders at EGM held on 27 June 2026. The proposed pay is commensurate with the size and scale of company’s operations and peers. However, given the concerns on his attendance, we do not support the resolution.
    1 for6 against
  • To approve the Re-appointment of Mr. Dinesh Kumar Gandhi (DIN: 01081155) as Whole time Director of the Company for a perid of 5 years w.e.f. 01/04/2027
    7 for0 against
  • To approve the remuneration of the Cost Auditors for the Financial year ending 31st March 2027
    4 for0 against
2 proposals not matched to one resolution
  • 9) Approve ratification of remuneration of Rs. 125,000 to Sanat Joshi & Associates as cost auditors for FY27
    1 for0 against
  • Approve ratification of remuneration of Rs. 125,000 to Sanat Joshi & Associates as cost auditors for FY27
    2 for0 against

Mutual fund votes, meeting of 27 Jun 2026, 18 fund houses

  • Approval for granting of loan aggregating up to Rs. 150.00 crores to Godawari Education and Research Foundation (GERF), Subsidiary of the company under Section 185 of the Companies act, 2013
    Against Axis Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, SBI Mutual Fund, UTI Mutual Fund
    • Axis Mutual FundGodawari Education Research Foundation (GERF) is a subsidiary of Godawari Power & Ispat Limited (GPIL), set up for development of a residential school project in Naya Raipur, Chhattisgarh. As per the FY25 Annual Report, GPIL holds an 81% stake in GIRF and remaining 19% is held by Globetrotters Educational Innoventions Private Limited. The company seeks approval to give an unsecured loan of up to Rs. 1.5 bn to GERF, with the funds intended for the subsidiary's principal business activities. There is no clarity on the terms of the loan, including the rate of interest, tenure, or the rationale for extending such financial support. Further, it is unclear whether the financial assistance will be proportionate to the company's economic interest in the subsidiary. Given these concerns, we do not support the resolution.
    • Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, SBI Mutual FundGodawari Education Research Foundation (GERF) is a subsidiary of Godawari Power & Ispat Limited (GPIL), set up for development of a residential school project in Naya Raipur, Chhattisgarh. As per the FY25 Annual Report, GPIL holds an 81% stake in GIRF and remaining 19% is held by Globetrotters Educational Innoventions Private Limited. The company seeks approval to give an unsecured loan of up to Rs. 1.5 bn to GERF, with the funds intended for the subsidiary's principal business activities. There is no clarity on the terms of the loan, including the rate of interest, tenure, or the rationale for extending such financial support. Further, it is unclear whether the financial assistance will be proportionate to the company’s economic interest in the subsidiary. Given these concerns, we do not support the resolution.
    • UTI Mutual FundThere is no clarity on the terms of the loan, including the rate of interest, tenure, or the rationale for extending such financial support. Further, it is unclear whether the financial assistance will be proportionate to the company’s economic interest in the subsidiary. Given these concerns, we do not support the resolution.
    13 for5 against
  • Revision in remuneration of Mr. Dinesh Agrawal (DIN: 00479936) Whole- Time Director
    18 for0 against
  • Revision in remuneration of Mr. Siddharth Agrawal (DIN:02180571) Whole- Time Director
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance concern: Low attendance at Board meetings during the last three financial years.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance concern: Low attendance at Board meetings during the last three financial years.
    12 for6 against
  • Revision in remuneration of Mr. Abhishek Agrawal (DIN:02434507) Whole- Time Director
    18 for0 against
6 earlier meetings

Mutual fund votes, meeting of 14 Mar 2026, 17 fund houses

  • To approve the amendment in the Object Clause of the Memorandum of Association of the Company to enable the company to undertake logistics activities
    17 for0 against

Mutual fund votes, meeting of 15 Oct 2025, 17 fund houses

  • To offer, Issue and allot warrants convertible into equity shares to Promoters and/or to the Members of Promoters’ Group and other Identified Non-Promoters on a preferential basis.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundGovernance concern: Warrants priced at par with equity shares; Transparency Concern: Lack of clarity on process of selection of allottees.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Warrants priced at par with equity shares Transparency Concern: Lack of clarity on process of selection of allottees.
    • ICICI Prudential Mutual FundA composite fund raise offered to all is preferred over the preferential allotment of warrants to prospective investors including promoters. Hence, the AMC has voted against the resolution.
    • Nippon India Mutual FundGovernance concern: Warrants priced at par with equity shares and lack of clarity on process of selection of allottees.
    10 for7 against

Mutual fund votes, meeting of 20 Sep 2025, 17 fund houses

  • To receive, consider and adopt the Standalone Financial Statements of the Company for the year ended 31st March, 2025 along with the reports of the Board of Directors and Auditors thereon.
    17 for0 against
  • To receive, consider and adopt the Consolidated Financial Statements of the Company for the year ended 31st March, 2025 along with the reports of the Auditors thereon.
    17 for0 against
  • To appoint a Director in place of Mr. Dinesh Agrawal (DIN: 00479936), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    17 for0 against
  • To appoint a Director in place of Mr. Vinod Pillai (DIN: 00497620), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    17 for0 against
  • Declaration of Final Dividend of Re.1/- per equity share of Face Value of Re.1/- each fully paid for the Financial Year 2024-25
    17 for0 against
  • To approve the re-appointment of Mr. Bajrang Lal Agrawal (DIN: 00479747), as Chairman-cum-Managing Director of the Company.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundPrior shareholder approval not obtained for continuation beyond 70 years.Governance concern: Combined position of Chairman and Managing Director.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNon-Compliant with Companies Act 2013 provisions: Prior shareholder approval not obtained for continuation beyond 70 years. Governance concern: Combined position of Chairman and Managing Director.
    • Nippon India Mutual FundNon-Compliant with Companies Act 2013 provisions: Prior shareholder approval not obtained for continuation beyond 70 years.
    11 for6 against
  • To consider and if thought fit, approve the appointment of CS Tanveer Kaur Tuteja, Practicing Company Secretary, as Secretarial Auditor of the Company for a term of 5 (five) years.
    17 for0 against
  • To approve the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2026.
    17 for0 against

Mutual fund votes, meeting of 11 Dec 2024, 12 fund houses

  • TO APPROVE THE AMENDMENT IN OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY
    12 for0 against

Mutual fund votes, meeting of 21 Sep 2024, 12 fund houses

  • To receive, consider and adopt the Standalone Financial Statements of the Company for the year ended 31st March, 2024 along with the reports of the Board of Directors and Auditors thereon
    12 for0 against
  • To receive, consider and adopt the Consolidated Financial Statements of the Company for the year ended 31st March, 2024 along with the reports of the Auditors thereon
    12 for0 against
  • To appoint a Director in place of Mr. Abhishek Agrawal (DIN: 02434507), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    Against Edelweiss Mutual Fund, Groww Mutual Fund, Nippon India Mutual Fund
    • Edelweiss Mutual FundHigh remuneration on relative basis
    • Groww Mutual Fund, Nippon India Mutual FundRe-appointment compliant with law. Governance Concern: Skewed Remuneration in favour of promoters.
    9 for3 against
  • To appoint a Director in place of Mr. Dinesh Kumar Gandhi (DIN: 01081155), who retires by rotation and being eligible for re-appointment, offers himself for re-appointment.
    12 for0 against
  • Declaration of Final Dividend of Rs. 5/- per equity share of Face Value of Rs.5/- each fully paid for the Financial year 2023-24.
    12 for0 against
  • Sub-Division of Equity Shares from the Face Value of Rs.5/- per share to Re.1/- per share
    12 for0 against
  • Alteration of the Capital Clause in the Memorandum of Association consequent upon Sub-Division
    12 for0 against

Mutual fund votes, meeting of 5 Jul 2024, 11 fund houses

  • To appoint Mrs. Neha Sunil Huddar (DIN: 00092245), as Non-Executive Independent Women Director of the company w.e.f. 9th August 2024
    11 for0 against
  • To appoint Mr. Hukam Chand Daga (DIN: 00441914), as Non-Executive Independent Director of the company w.e.f. 9th August 2024
    11 for0 against
  • To approve the Remuneration payable to Non-Executive Directors and Independent Directors of the Company
    Against Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance concern: Disclosure & Transparency concern w.r.t. intent of grant of stock options.
    • DSP Mutual FundIn the 2023 AGM, the company had sought approval to pay commission to non-Executive Non-Independent Directors (NEDs) and Independent Directors in addition to sitting fees for five years from 1 April 2024. Now the company seeks approval to include an ESOP component in the resolution along with the commission payable to all NEDs. We recognise that payment of commission to NEDs and independent directors is in line with market practices. Between FY19 and FY23, the commission to non-executive directors ranged between Rs. 3.00 mn and Rs. 8.50 mn which was between 0.4% and 0.28% of profits. We also support the grant of stock options to NEDs. However, we recognise that in the current case the cap on grants at upto 1% of issued capital per annum and upto 3% of issued capital in aggregate to all NEDs is high and enabling. As per issued capital as on 31 March 2024, the company could grant up to 1.36 mn stock options to NEDs in a year. Considering exercise price equal to face value, fair value of 1.36 mn stock options aggregates to ~Rs. 1,429.3 mn, which is high. We believe the company should provide a judicious and reasonable cap on the stock options to be granted. Further, it is unclear if fair value or perquisite value of stock options will be considered while calculating the threshold of 1% of profits.
    • Edelweiss Mutual FundTwo resolutions put in 1 resolution. The amount of commission is too high for these directors.
    • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundLack of clarity
    3 for8 against
  • To approve the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2025
    11 for0 against

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

Tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtGodawari New Energy Private LimitedSince 15 Apr 2026

    100.00% bought in the quarter; holding 100.00%, from 0.00%

  • Unlisted stake boughtArdent Steel Private LimitedSince 20 Apr 2026

    −9.24% bought in the quarter; holding 9.22%, from 18.46%

  • Unlisted stake boughtArdent Steel Private LimitedSince 21 May 2026

    −9.22% bought in the quarter; holding 0.00%, from 9.22%

  • Unlisted stake boughtGodawari New Energy Private LimitedSince 4 Jun 2026

    100.00% bought in the quarter; holding 100.00%, from 0.00%

  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 1 Jul 2010
    Reply to SCN filed and Hearing held. Order awaited.
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 7 May 2013
    Reply to SCN filed. Hearing is awaited.
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. Raipur.Since 3 Jan 2014
    Reply to SCN filed. Hearing awaited.
    At the filing before: Pending
  • Tax disputeCommissioner of Customs, Customs House, Port Area, VisakhapatnamSince 15 Oct 2013
    Appeal filed before CESTAT
    At the filing before: Pending
45 more
  • Tax disputeThe Assistant Commissioner, Central Excise, Customs & Service Tax, RaipurSince 10 Mar 2015
    Matter pending in Remand proceedings
    At the filing before: Pending
  • Tax disputeThe Commissioner, Central Excise, Customs & Service Tax, RaipurSince 1 May 2015
    CESTAT vide its Final Order No. 51033/2026 dated 05.06.2026 allowed Appeal of the Company and set aside the demand confirmed in OIO dated 31.03.2023. MATTER CLOSED.
    At the filing before: Closed
  • Tax disputeThe Commissioner, (Appeals), Customs, Central Excise, & Service Tax, Visakhapatnam (AP)Since 25 May 2015
    Appeal filed before CESTAT
    At the filing before: Pending
  • Tax disputeThe Commissioner, (Appeals), Customs, Central Excise, & Service Tax, RaipurSince 26 Apr 2016
    Appeal filed before CESTAT
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 22 Nov 2016
    Matter pending in Remand proceedings
    At the filing before: Pending
  • Tax disputeThe Suptd., CE, Range-II, RaipurSince 5 Jan 2017
    Reply to SCN filed, Hearing held and Order awaited
    At the filing before: Pending
  • Tax disputeThe Asst. Commissioner, Central Excise, RaipurSince 26 Feb 2020
    Commissioner (Appeals), Raipur Remanded back the case to the original Adjudicating Authority i.e., Asst. Commissioner, Central Excise, Raipur.
    At the filing before: Pending
  • Tax disputeThe Joint Commissioner, CGST & CE, HQs., RaipurSince 23 Mar 2020
    Reply to SCN filed and Hearing awaited.
    At the filing before: Pending
  • Tax disputeThe Commissioner, Central Excise, Customs & Service Tax, RaipurSince 6 Sep 2007
    Matter pending in Remand proceedings.
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 14 Jul 2009
    Matter pending in Remand proceedings
    At the filing before: Pending
  • Tax disputeThe Commissioner, Customs Excise & Service Tax RaipurSince 18 Jun 2013
    Appeal filed with CESTAT
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 26 Nov 2010
    Reply to SCN filed and Hearing awaited
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 7 Oct 2011
    Reply to SCN filed and Hearing awaited.
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 19 Mar 2010
    Reply to SCN filed, Hearing held and Order is awaited.
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 22 Aug 2012
    Reply to SCN filed, Hearing held and Order awaited.
    At the filing before: Pending
  • Tax disputeThe Additional Commissioner Central Excise Hqrs. RaipurSince 2 Aug 2005
    Pending before CESTAT (Departmental Appeal)
    At the filing before: Pending
  • Tax disputeThe Commissioner, Central Excise, RaipurSince 2 Apr 2009
    Matter pending in Remand proceedings
    At the filing before: Pending
  • Tax disputeCommissioner (Appeals), CGST & CE, GST Bhawan, Tikrapara, Raipur (C.G.)Since 18 Dec 2018
    CESTAT vide its Final Order No. 50874/2026 dated 13.05.2026 allowed Appeal of the Company and set aside the demand confirmed in OIA dated 29.05.2020. Matter closed
    At the filing before: Closed
  • Tax disputeSuperintendent, CGST & CE, RaipurSince 2 Sep 2022
    Appeal to be filed with GST Appellate Tribunal.
    At the filing before: Pending
  • Tax disputeAssistant Commissioner (Audit), CGST & CE, Division II, Civil Lines, Raipur.Since 15 May 2023
    Reply to SCN filed, Hearing held and Order awaited.
    At the filing before: Pending
  • Tax disputeAdditional Commissioner, CGST, VizagSince 7 Sep 2023
    Appeal to be filed with GST Appellate Tribunal.
    At the filing before: Pending
  • Tax disputeAssistant Commissioner (Audit), CGST & CE, GST Bhawan, Tikarpara, RaipurSince 19 Aug 2024
    Reply to SCN to be filed.
    At the filing before: Pending
  • Tax disputeThe Superintendent CGST & CE, Range-I, Division-II, RaipurSince 25 Jun 2025
    Reply to SCN filed on 06.08.2025. Hearing Awaited.
    At the filing before: Pending
  • Tax disputeDCIT, Circle 1(1), RaipurSince 30 Mar 2015
    Written Submission has already been filed, however, order yet to be passed by National Faceless Appeal Centre.
    At the filing before: Pending
  • Tax disputeNational Faceless Assessment CentreSince 7 Mar 2022
    AO has duly passed an order u/s 154 r.w.s. 143(3) on 07.03.2022 and allowed refund of Rs. 10,57,010, which includes tax refund of Rs. 9,49,554 and Rs. 1,07,456 for interest.The above refund arised due to the refund of Rs. 11,65,900 for A.Y. 2019-20 adjusted previously against demand for the aforesaid yearMoreLess
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 3 Sep 2022
    As per the earlier demand of Rs. 20,86,795/-, Appeal filed with CIT(A) on 28.10.2022 . Now Rectification order received on 30.06.2025 from Income Tax Depattment reducing interest liability to Rs. 4,45,020/- only.MoreLess
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 27 Mar 2024
    As per the earlier demand of Rs. 26,22,37,227/-, Appeal filed with CIT(A) on 08.04.2024 . Now Rectification order received on 10.06.2024 from Income Tax Depattment reducing liability to Rs. 0/- only.
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 28 Mar 2024
    Appeal filed with CIT(A)on 08.04.2024 and Also Submission is filed awaiting for disposal. Date of payment of deposit amount was 09.04.2024
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 30 Sep 2022
    1. Appeal filed on 08.04.2024 and awaiting for date of next hearing. Date of payment of deposit amount was 09.04.2024. 2. Rectification application u/s 154 filed on 1.05.2024
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 24 Mar 2025
    1. Appeal filed on 02.04.2025 and awaiting for date of hearing. Date of payment of deposit amount was 15.04.2024.
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 30 Mar 2025
    Appeal filed on 02.04.2025 and awaiting for date of hearing. Date of payment of deposit amount was 15.04.2024.
    At the filing before: Pending
  • Tax disputeACIT, Central Circle 1, RaipurSince 17 Mar 2026
    Rectification filed with deptt. Dt. 24.03.2026 specifying the mistake done by deptt. By not considering deduction U/S 80M amounting to Rs. 9.90 Crores. Application is pending for disposal
    At the filing before: Pending
  • Tax disputeAdditional Commisioner of Income Tax, Central Circle, RaipurSince 23 Nov 2024
    Appeal filed on 08.04.2024. Date of payment of deposit amount was 10.12.2024. Date of hearing of appeal has been fixed on 14.07.2026 vide letter dt. 07.07.2026 and submission is filed and awaiting for the orderMoreLess
    At the filing before: Pending
  • Tax disputeAdditional Commisioner of Income Tax, Central Circle, RaipurSince 10 Nov 2023
    Appeal filed on 07.12.2023 Date of payment of deposit amount was 28.04.2025. Date of hearing of appeal has been fixed on 09.07.2026 vide letter dt. 02.07.2026 and submission is filed and awaiting for the orderMoreLess
    At the filing before: Pending
  • Tax disputeAdditional Commisioner of Income Tax, Central Circle, RaipurSince 23 Nov 2024
    Appeal filed on 07.12.2024. Date of payment of deposit amount was 10.12.2024. Date of hearing of appeal has been fixed on 14.07.2026 vide letter dt. 07.07.2026 and submission is filed and awaiting for the orderMoreLess
    At the filing before: Pending
  • Tax disputeAdditional Commisioner of Income Tax, Central Circle, RaipurSince 23 Nov 2024
    Appeal filed on 07.12.2024 and awaiting for date of hearing. Date of payment of deposit amount was 10.12.2024 and submission is filed and awaiting for the order
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 28 Dec 2023
    Relates to RR Ispat Unit. Rs. 5806/- paid on 04.01.2024 against assessment order. However, went for appeal and Appeal Order has already been received on 28.10.2024 in company's favour. Therefore, amount paid has to be received as refundMoreLess
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 25 Mar 2025
    Appeal filed on 10.04.2025 and letter dt. 06.08.2025 received from ACIT (TDS) granting staty of demand till disposal of appeal. Date of hearing of appeal has been fixed on 16.07.2026 vide letter dt. 08.07.2026 and submission is filed and awaiting for the orderMoreLess
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 25 Mar 2025
    Appeal filed on 10.04.2025 and letter dt. 06.08.2025 received from ACIT (TDS) granting staty of demand till disposal of appeal. Date of hearing of appeal has been fixed on 30.06.2026 vide letter dt. 23.06.2026 and submission is filed and awaiting for the orderMoreLess
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 24 Mar 2026
    Appeal filed on 08.04.2026 and letter dt. 24.03.2026 received from ACIT (TDS) granting staty of demand till disposal of appeal. Awaiting for date of hearing.
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 24 Mar 2026
    Appeal filed on 09.04.2026 and letter dt. 24.03.2026 received from ACIT (TDS) granting staty of demand till disposal of appeal. and submission is filed and awaiting for the order
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 24 Mar 2026
    Appeal filed on 09.04.2026 and letter dt. 24.03.2026 received from ACIT (TDS) granting staty of demand till disposal of appeal. and submission is filed and awaiting for the order
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 26 Mar 2025
    Appeal filed on 10.04.2025 and letter dt. 06.08.2025 received from ACIT (TDS) granting staty of demand till disposal of appeal. and submission is filed and awaiting for the order
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 26 Mar 2025
    Appeal filed on 10.04.2025 and letter dt. 06.08.2025 received from ACIT (TDS) granting staty of demand till disposal of appeal. Date of hearing of appeal has been fixed on 02.07.2026 vide letter dt. 17.06.2026 and submission is filed and awaiting for the orderMoreLess
    At the filing before: Pending
  • Tax disputeACIT/DCIT, TDS Circle, RaipurSince 27 Mar 2026
    Appeal filed on 09.04.2026 and letter dt. 27.03.2026 received from ACIT (TDS) granting staty of demand till disposal of appeal. Awaiting for date of hearing.
    At the filing before: Pending

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
Yes
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.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesNov 2025, checked by CARE Ratings Limited175.23Project Funding200.000.22No
Preferential IssuesNov 2025, checked by CARE Ratings Limited175.23Investment in BESS Project175.00175.00No
Preferential IssuesNov 2025, checked by CARE Ratings Limited175.23General Corporate Purposes125.000.00No
₹ 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.