Incredible Industries logo

Incredible Industries MD, chairman, board of directors and AGM

NSE: INCREDIBLEBSE: 538365Industrial ProductsSmall Cap

Formerly Adhunik Industries
Last close ₹29.21down ₹1.36 (4.45%)BSE ₹29.15

Share price at the NSE close on 23 Oct 2026. Previous close ₹30.57.

52-week range of traded prices to 23 Oct 2026
₹28.10Low, 30 Mar 2026₹47.95High, 3 Nov 2025
Market cap
₹137 Cr2,536th largest listed
P/E
11.6
P/B
0.9
Dividend yield
Nonein the last 12 months
ROE
7.8%
ROCE
9.6%
Debt to equity
0.21
Volume, NSE
6,78664.1% delivered

Incredible Industries board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorRAMA SHANKAR GUPTA

6 directors3 independent1 executive2 non-executive

  • RAMA SHANKAR GUPTA · Chairperson and managing directorExecutive · joined Jul 2019 · reappointed Nov 2025 · 1 listed board · 3 committee seats
  • SONAM AGARWALIndependent · joined Feb 2018 · reappointed Feb 2023 · 103 months as independent · 1 listed board · 1 as independent · 3 committee seats, 1 as chair
  • SHILPI MODIIndependent · joined Dec 2018 · reappointed Dec 2023 · 93 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • SANJAY KALOYANon-executive · joined Mar 2021 · 1 listed board · 1 committee seat, 1 as chair
  • DEEPAK KUMAR AGARWALLAIndependent · joined Sep 2024 · reappointed Sep 2024 · 24 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • RAJ PRAKASH VERMANon-executive · joined Nov 2025 · 2 listed boards · 1 as independent · 2 committee seats

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
  • NIKET AGARWAL, left 12 Nov 2025: Others

Committees and meetings

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

  • Board

    • 10 Aug 20266 of 6 present3 independent · 60 days in between
    • 10 Jun 20266 of 6 present3 independent · 11 days in between
    • 29 May 20266 of 6 present3 independent

  • Audit Committee

    Chair DEEPAK KUMAR AGARWALLA

    SONAM AGARWAL, SHILPI MODI, RAMA SHANKAR GUPTA

    • 10 Aug 20264 of 4 present3 independent · 60 days in between
    • 10 Jun 20264 of 4 present3 independent · 11 days in between
    • 29 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair SONAM AGARWAL

    SHILPI MODI, SANJAY KALOYA

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair SANJAY KALOYA

    RAMA SHANKAR GUPTA, SONAM AGARWAL

    No meeting listed in the filing.

  • MANAGEMENT AND FINANCE COMMITTEE

    Chair RAMA SHANKAR GUPTA

    SANJAY KALOYA, RAJ PRAKASH VERMA

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • R. Gopal & AssociatesPeer-review certificate valid to Apr 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.

Incredible Industries AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Incredible Industries share news and announcements

Annual general meeting, 18 Sep 2026

7,242 shareholders on the register on 11 Sep 2026; present: 5 promoters and 114 others; votes counted by MOHAN RAM GOENKA / MR & ASSOCIATES.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 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 81.48% · promoters 92.43% · institutions 0.00% · other public 48.70%

  2. To appoint a Director in place of Mr. Sanjay Kaloya (DIN: 07970640) 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 81.48% · promoters 92.43% · institutions 0.00% · other public 48.70%

  3. To appoint M/s. Sudhir Kumar Jain and Associates, Chartered Accountants (Firm Registration No. 318016E) as Statutory Auditors of the Company for a term of 5 (Five) consecutive years
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.48% · promoters 92.43% · institutions 0.00% · other public 48.70%

  4. To approve Material Related Party Transaction(s) of the Company with Adhunik Corporation Limited for a period commencing from the conclusion of 47th Annual General Meeting to 48th Annual General Meeting of the CompanyMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 12.19% · promoters 0.00% · institutions 0.00% · other public 48.70%

  5. To ratify the remuneration of Cost Auditors for the Financial Year ending March 31, 2027
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.48% · promoters 92.43% · institutions 0.00% · other public 48.70%

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, 10 Feb 2026, 1 resolution

7,381 shareholders on the register on 2 Jan 2026; votes counted by MOHAN RAM GOENKA / MR & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Approval of Mr. Raj Prakash Verma (DIN: 09305391) as a Non-Executive Director (Non-Independent) of the Company:
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · other public 0.00%

    Turnout: all 81.66% · promoters 92.43% · other public 49.43%

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 2025, 8 resolutions

7,507 shareholders on the register on 12 Sep 2025; present: 5 promoters and 107 others; votes counted by MOHAN RAM GOENKA / MR & ASSOCIATES.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 31st March 2025 and 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 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

  2. To appoint a director in place of Mr. Niket Agarwal (DIN: 07233888), who retires by rotation at this Annual General Meeting 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 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

  3. To consider the ratification in particulars of remuneration of Statutory Auditors of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

  4. To consider re-appointment of Mr. Rama Shankar Gupta (DIN: 07843716) as a Managing Director of the Company for a term of 3 (three) years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

  5. To take approval of Material Related Party Transaction(s) for the FY- 2026-27.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 12.38% · promoters 0.00% · institutions 0.00% · other public 49.44%

  6. To approve the remuneration of Cost Auditors for the Financial Year ending March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

  7. To consider the appointment of Secretarial Auditors of the Company for a term of five consecutive years i.e., from financial year 2025-26 to 2029-30:
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

  8. To Issue of Non-Convertible Debentures on Private Placement basis:
    Special
    100.00% for0.00% against

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

    Turnout: all 81.66% · promoters 92.43% · institutions 0.00% · other public 49.44%

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, 27 Sep 2024, 7 resolutions

Present: 6 promoters and 90 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 31st March 2024 and 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 81.93% · promoters 92.57% · institutions 0.00% · other public 50.08%

  2. To appoint a director in place of Mr. Sanjay Kaloya (DIN: 07970640), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 92.57% · institutions 0.00% · other public 50.08%

  3. To consider the revision in remuneration of Statutory Auditors of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 92.57% · institutions 0.00% · other public 50.08%

  4. Appointment of Mr. Deepak Kumar Agarwalla (DIN: 05246888) as an Independent Director for the first term of 5 (five) consecutive years.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 92.57% · institutions 0.00% · other public 50.08%

  5. Alteration of Articles of Association of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 92.57% · institutions 0.00% · other public 50.08%

  6. To take approval of Material Related Party Transaction(s) for the FY- 2025-26.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 12.54% · promoters 0.00% · institutions 0.00% · other public 50.08%

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

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

    Turnout: all 81.93% · promoters 92.57% · institutions 0.00% · other public 50.08%

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

Annual general meeting, 29 Sep 2023, 5 resolutions

Present: 6 promoters and 83 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 31st March 2023 and 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 81.77% · promoters 92.57% · institutions 0.00% · other public 49.44%

  2. To appoint a director in place of Mr. Niket Agarwal (DIN: 07233888), who retires by rotation at this Annual General Meeting 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 81.77% · promoters 92.57% · institutions 0.00% · other public 49.44%

  3. To consider re-appointment of Mrs. Shilpi Modi (DIN: 02706881) as an Independent Woman Director for second term of five consecutive years.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.77% · promoters 92.57% · institutions 0.00% · other public 49.44%

  4. To take approval of Material Related Party Transaction(s) for the FY- 2024-25.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 12.38% · promoters 0.00% · institutions 0.00% · other public 49.44%

  5. To approve the remuneration of Cost Auditors for the Financial Year ending March 31, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.77% · promoters 92.57% · institutions 0.00% · other public 49.44%

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, 21 Sep 2022, 7 resolutions

Present: 12 promoters and 83 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 31st March 2022 and 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 87.29% · promoters 99.92% · institutions 0.00% · other public 49.49%

  2. To appoint a director in place of Mr. Sanjay Kaloya (DIN: 07970640), who retires by rotation at this Annual General Meeting 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 87.29% · promoters 99.92% · institutions 0.00% · other public 49.49%

  3. nTo consider the revision in remuneration of M/s. R. Gopal & Associates, Chartered Accountants, Statutory Auditors of the Company.n
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.29% · promoters 99.92% · institutions 0.00% · other public 49.49%

  4. To consider re-appointment of Mrs. Sonam Agarwal (DIN: 08054202) as an Independent Woman Director for second term of five consecutive years.
    Special
    100.00% for0.00% against

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

    Turnout: all 87.29% · promoters 99.92% · institutions 0.00% · other public 49.49%

  5. To consider the re-appointment of Mr. Rama Shankar Gupta (DIN: 07843716) as a Managing Director of the Company for a term of three years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.29% · promoters 99.92% · institutions 0.00% · other public 49.49%

  6. To take approval of Material Related Party Transaction(s) for the FY- 2023-24.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 12.39% · promoters 0.00% · institutions 0.00% · other public 49.49%

  7. To approve the remuneration of Cost Auditors for the Financial Year ending March 31, 2023.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.29% · promoters 99.92% · institutions 0.00% · other public 49.49%

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, 26 May 2022, 1 resolution

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

  1. Approval of Material Related Party Transaction(s) for the F.Y 2022-2023.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 12.39% · promoters 0.00% · 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, 16 Sep 2021, 5 resolutions

Present: 11 promoters and 60 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 31st March 2021 and 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 87.35% · promoters 100.00% · institutions 0.00% · other public 49.49%

  2. To appoint a director in place of Mr. Niket Agarwal (DIN: 07233888), 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 87.35% · promoters 100.00% · institutions 0.00% · other public 49.49%

  3. To consider appointment of M/s. R. Gopal & Associates, Chartered Accountants as Statutory Auditors of the Company for the term of 5 (Five) consecutive years
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.35% · promoters 100.00% · institutions 0.00% · other public 49.49%

  4. To consider the appointment of Mr. Sanjay Kaloya (DIN: 07970640) as a Non-Executive Director (Non-Independent) of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.35% · promoters 100.00% · institutions 0.00% · other public 49.49%

  5. To approve the remuneration of Cost Auditors for the Financial Year ending March 31, 2022
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.35% · promoters 100.00% · institutions 0.00% · other public 49.49%

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.