HP Adhesives logo

HP Adhesives MD, chairman, board of directors and AGM

NSE: HPALBSE: 543433Chemicals & PetrochemicalsSmall Cap

Last close ₹29.93down ₹2.09 (6.53%)BSE ₹30.19

Share price at the NSE close on 23 Oct 2026. Previous close ₹32.02.

52-week range of traded prices to 23 Oct 2026
₹26.52Low, 30 Mar 2026₹53.00High, 3 Nov 2025
Market cap
₹275 Cr2,075th largest listed
P/E
Earlier quarters restated in the year
P/B
1.5
Dividend yield
1.34%
ROCE
0.3%
Debt to equity
0.02
Volume, NSE
73,63176.6% delivered

HP Adhesives 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

  • ChairpersonAnjana Haresh Motwani
  • Managing directorKaran Haresh Motwqani

6 directors3 independent3 executive

  • Anjana Haresh Motwani · ChairpersonExecutive · joined May 2019 · 1 listed board
  • Karan Haresh Motwqani · Managing directorExecutive · joined May 2019 · reappointed Sep 2025 · 1 listed board · 1 committee seat
  • Rajendra Kumar JainIndependent · joined Jul 2021 · reappointed Sep 2025 · 59 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • Surendra Kumar MehtaIndependent · joined Jun 2021 · reappointed Sep 2025 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • Chandra Sekhar NettemIndependent · joined Feb 2026 · 4 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Nidhi Haresh MotwaniExecutive · joined Feb 2022 · 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.

1 director who left
  • Ajeet Anant Walavalkar, left 12 Feb 2026: Others

Committees and meetings

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

  • Board

    • 12 May 20266 of 6 present3 independent · 88 days in between
    • 12 Feb 20266 of 6 present3 independent

  • Audit Committee

    Chair Surendra Kumar Mehta

    Rajendra Kumar Jain, Karan Haresh Motwqani

    • 12 May 20263 of 3 present2 independent · 88 days in between
    • 12 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Surendra Kumar Mehta

    Rajendra Kumar Jain, Chandra Sekhar Nettem

    • 12 Feb 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Surendra Kumar Mehta

    Rajendra Kumar Jain, Chandra Sekhar Nettem

    • 12 Feb 20262 of 3 present2 independent

  • Corporate Social Responsibility Committee

    Chair Anjana Haresh Motwani

    Nidhi Haresh Motwani, Chandra Sekhar Nettem

    • 12 Feb 20262 of 3 present0 independent

  • Independent Directors Meeting

    • 12 Feb 20263 of 3 present3 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.

  • M/s Priya Choudhary & Associates LLPPeer-review certificate valid to Jun 2027
1 earlier auditor
  • Priya Choudhary & Associates LLPNamed in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

HP Adhesives 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.HP Adhesives dividend history

Annual general meeting, 22 Sep 2026

52,523 shareholders on the register on 15 Sep 2026; present: 3 promoters and 38 others; votes counted by Mr. Shivam Sharma / M/s. Shivam Sharma & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (including audited consolidated financial statements) of the Company for the Financial Year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.47%

    Turnout: all 71.37% · promoters 100.00% · institutions 0.00% · other public 0.09%

  2. To declare a final dividend of 20% i.e. Rs. 0.40/- per equity share of face value of Rs. 2/- each for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.56%

    Turnout: all 71.37% · promoters 100.00% · institutions 0.00% · other public 0.09%

  3. To appoint Ms. Nidhi Haresh Motwani (DIN: 06655834) as Director, liable to retire by rotation, and being eligible, offers herself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 44.94%

    Turnout: all 71.37% · promoters 100.00% · institutions 0.00% · other public 0.09%

  4. To re-appoint Ms. Nidhi Haresh Motwani (DIN:06655834) as the Executive Director of the Company for a term of 3 (three) consecutive years.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 44.94%

    Turnout: all 71.37% · promoters 100.00% · institutions 0.00% · other public 0.09%

  5. To approve the remuneration payable to Ms. Nidhi Haresh Motwani (DIN: 06655834) as the Executive Director of the Company.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 49.45%

    Turnout: all 71.37% · promoters 100.00% · institutions 0.00% · other public 0.09%

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, 31 Mar 2026, 1 resolution

55,458 shareholders on the register on 20 Feb 2026; votes counted by Shivam Sharma / Shivam Sharma & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Dr Chandra Sekhar Nettem (DIN: 10646814) as a Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.52%

    Turnout: all 71.41% · promoters 100.00% · institutions 0.00% · 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.

Annual general meeting, 30 Sep 2025, 9 resolutions

58,288 shareholders on the register on 23 Sep 2025; present: 3 promoters and 57 others; votes counted by Shivam Sharma / Shivam Sharma & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (including audited consolidated financial statements) of the Company for the Financial Year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  2. To declare a final dividend of 20% i.e. Rs. 0.40/- per equity share of face value of Rs. 2/- each for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  3. To appoint Mrs. Anjana Motwani (DIN: 02650184) as Director, liable to retire by rotation, and being eligible, offers herself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  4. To re-appoint the Statutory Auditors of the Company, and to fix their remuneration.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  5. To appoint the Secretarial Auditors of the Company, and to fix their remuneration
    Special
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  6. To re-appoint Mr. Karan Motwani (DIN: 02650089) as the Managing Director of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  7. Re-appointment of Mr. Surendra Kumar Mehta as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  8. Re-appointment of Mr. Ajeet Anant Walavalkar as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

  9. Re-appointment of Mr. Rajendra Kumar Jain as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 71.47% · promoters 100.00% · institutions 0.00% · other public 0.44%

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, 19 Sep 2024, 4 resolutions

Present: 3 promoters and 43 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended 31st March, 2024 together with the reports of the Board of Directors and Statutory Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.59% · promoters 100.00% · institutions 95.96% · other public 6.17%

  2. To declare a final dividend of ` 0.30 per equity share of Rs. 2 each of the Company for the financial year ended 31st March, 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.59% · promoters 100.00% · institutions 95.96% · other public 6.17%

  3. To appoint a Director in place of Ms. Nidhi Haresh Motwani (DIN: 06655834), who retires by rotation and being eligible offers herself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.59% · promoters 100.00% · institutions 95.96% · other public 6.17%

  4. To approve HP Adhesives Employee Stock Option Scheme - 2024
    Special
    100.00% for0.00% against

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

    Turnout: all 76.59% · promoters 100.00% · institutions 95.96% · other public 6.17%

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.

Annual general meeting, 29 Sep 2023, 4 resolutions

Present: 2 promoters and 35 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended March 31, 2023 together with the reports of the Board of Directors and Statutory Auditors thereon.MoreLess
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.54%

    Turnout: all 76.17% · promoters 100.00% · institutions 55.93% · other public 5.02%

  2. To appoint a Director in place of Mrs. Anjana Haresh Motwani (DIN: 02650184), who retires by rotation and being eligible offers herself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.54%

    Turnout: all 76.17% · promoters 100.00% · institutions 55.93% · other public 5.02%

  3. To approve split/ sub-division of 1 (One) Equity Share of the Company of the face value of ₹ 10/- (Rupees Ten Only) each into 5 (Five) Equity Shares of ₹ 2/-(Rupees Two Only) each.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.60%

    Turnout: all 76.17% · promoters 100.00% · institutions 55.93% · other public 5.02%

  4. To approve Alteration of Capital Clause of the Memorandum of Association of the Company.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.61%

    Turnout: all 76.17% · promoters 100.00% · institutions 55.93% · other public 5.02%

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 2022, 3 resolutions

Present: 2 promoters and 32 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements for the financial year ended 31st March, 2022 and the Reports of the Directors and Auditors thereon
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.32%

    Turnout: all 75.22% · promoters 100.00% · institutions 12.15% · other public 13.78%

  2. To appoint a Director in place of Ms. Nidhi Haresh Motwani (DIN: 06655834), who retires by rotation and being eligible offers herself for reappointment
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.32%

    Turnout: all 75.22% · promoters 100.00% · institutions 12.15% · other public 13.78%

  3. To approve payment of remuneration to Executive Directors who are members of the Promoter group in excess of 5% of the net profits of the Company in a year as per Regulation 17(6)(e)(ii) of SEBI (LODR) Regulations, 2018MoreLess
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.65%

    Turnout: all 75.22% · promoters 100.00% · institutions 12.15% · other public 13.78%

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, 28 Apr 2022, 1 resolution

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

  1. Appointment of Ms. Nidhi Haresh Motwani (DIN: 06655834) as an Executive Director of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 37.21% · promoters 51.41% · institutions 0.00% · other public 2.26%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

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

Mutual fund votes, meeting of 29 Sep 2023, 1 fund house

  • 1. To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended 31st March, 2023 together with the reports of the Board of Directors and Statutory Auditors thereon. 2. To appoint a Director in place of Mrs. Anjana Haresh Motwani (DIN: 02650184), who retires by rotation and being eligible offers herself for re-appointment. 3. To consider and if thought fit, to pass with or without modification, the following as an Ordinary Resolution for split/ sub-division of 1 (One) Equity Share of the Company of the face value of ₹ 10/- (Rupees Ten Only) each into 5 (Five) Equity Shares of ₹ 2/-(Rupees Two Only) each. 4. To consider and if thought fit, to pass with or without modification, the following as an Ordinary Resolution for Alteration of Capital Clause of the Memorandum of Association of the Company.MoreLess
    1 for0 against

Mutual fund votes, meeting of 27 Sep 2022, 1 fund house

  • 1. To receive, consider and adopt the audited financial statements for the financial year ended 31st March, 2022 and the Reports of the Directors and Auditors thereon ORDINARY BUSINESS 2. To appoint a Director in place of Ms. Nidhi Haresh Motwani (DIN: 06655834), who retires by rotation and being eligible offers herself for re-appointment ORDINARY BUSINESS 3. To approve payment of remuneration to Executive Directors who are members of the Promoter group in excess of 5% of the net profits of the Company in a year as per Regulation 17(6)(e)(ii) of SEBI (LODR) Regulations, 2018 SPECIAL BUSINESSMoreLess
    1 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 disputeIncome Tax Officer Ward 24 (2) (1), MumbaiSince 28 Jun 2017
    No Change from the last disclosure
  • Tax disputeCommissioner CGST Central Excise, RaigadSince 7 Jun 2018
    No Change from the last disclosure
  • Tax disputeCommissioner of CGST & Central Excise, RaigadSince 11 Mar 2021
    No Change from the last disclosure
  • Tax disputeOffice Of The ACIT Circle 24 (1) MumbaiSince 22 Mar 2025
    No Change from the last disclosure
  • Tax disputeGovernment Of India, Department Of Revenue GST (Audit-II), MumbaiSince 1 Jul 2025
    The Company has received The Order In Original (OIO) No: ME/JC/HD/247/GST/2025-26 for the period from 2019-2020 to 2023-2024 on Dt.26/03/2026, And also on Dt. 29/03/2026 received DRC-07 amounting to Rs.2,94,96,216/- against the same via email. The company has filed an appeal in form GST APL-01 on Dt.16/06/2026 by Paying 10% Predeposit Rs.29,49,625/-.MoreLess
    At the filing before: No Change from the last disclosure
  • Tax disputeJt. Commissioner of Customs – (NS – I) Nhava ShevaSince 27 Sep 2025
    No Change from the last disclosure
    At the filing before: The Company Has Filed the detailed reply on Dt.04/11/2025 and Awaiting Reply from department
  • Tax disputeINCOME TAX DEPARTMENT OFFICE OF THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 1(1)(1), MUMBAISince 27 Mar 2026
    The Company has received the Notice u/s 148 of the Income Tax Act,1961 on Dt.29/06/2026 via email ,the Assessing Officer has preferred to transfer the case for scrutiny, Company is awaiting the detail checklist from the department to comply.MoreLess
    At the filing before: Company has Received Notice under sub-section (1)of section 148A of the Income-tax Act, 1961 For A.Y.2020-2021, In reply to this the company has submitted online response on Dt.10.04.2026 with partial documentary evidence and request for adjournment & sufficient time to furnish the balance details.Company believes there is no impact on financialMoreLess

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

RaisedAmount raisedForSet asideSpentSpent elsewhere
Public IssuesDec 2021, checked by ICICI Bank125.96Working Capital54.0054.00No
Public IssuesDec 2021, checked by ICICI Bank125.96Capex25.5125.51No
Public IssuesDec 2021, checked by ICICI Bank125.96General Corporate17.1817.18No
₹ 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.