Inspirisys Solutions logo

Inspirisys Solutions CEO, MD, chairman, board of directors and AGM

NSE: INSPIRISYSBSE: 532774IT - ServicesSmall Cap

Formerly Accel Frontline
Last close ₹79.28up ₹1.34 (1.72%)BSE ₹79.73

Share price at the NSE close on 23 Oct 2026. Previous close ₹77.94.

52-week range of traded prices to 23 Oct 2026
₹69.92Low, 30 Mar 2026₹133.90High, 1 Jun 2026
Market cap
₹314 Cr2,028th largest listed
P/E
8.1
P/B
3.1
Dividend yield
Nonein the last 12 months
ROE
49.0%
ROCE
18.4%
Debt to equity
0.79
Volume, NSE
6,28764.2% delivered

Inspirisys Solutions 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

  • ChairpersonSATOSHI IWANAGARelated to the promoter
  • Chief executiveMURALI GOPALAKRISHNAN
  • Company Secretary and Compliance OfficerS. Sundaramurthy

6 directors3 independent1 executive2 non-executive

  • SATOSHI IWANAGA · ChairpersonNon-executive · joined Jan 2025 · 1 listed board · 2 committee seats
  • MURALI GOPALAKRISHNAN · Chief executiveExecutive · joined Nov 2022 · 1 listed board
  • RAJESH RAMNIKLAL MUNIIndependent · joined May 2017 · reappointed May 2022 · 112 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • M S JAGANIndependent · joined Feb 2020 · reappointed Feb 2025 · 79 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • TORU HORIUCHINon-executive · joined Nov 2022 · 1 listed board
  • CAUVERY DHARMARAJIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 2 listed boards · 2 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
  • KOJI IKETANI, left 31 Dec 2024: Others

Committees and meetings

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

  • Board

    • 11 Aug 20266 of 6 present3 independent · 94 days in between
    • 8 May 20266 of 6 present3 independent

  • Audit Committee

    Chair RAJESH RAMNIKLAL MUNI

    M S JAGAN, CAUVERY DHARMARAJ, SATOSHI IWANAGA

    • 11 Aug 20264 of 4 present3 independent · 94 days in between
    • 8 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair CAUVERY DHARMARAJ

    RAJESH RAMNIKLAL MUNI, M S JAGAN, SATOSHI IWANAGA

    • 10 Aug 20264 of 4 present3 independent · 94 days in between
    • 7 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair M S JAGAN

    RAJESH RAMNIKLAL MUNI, CAUVERY DHARMARAJ, SATOSHI IWANAGA

    • 10 Aug 20264 of 4 present3 independent · 94 days in between
    • 7 May 20264 of 4 present3 independent

  • Corporate Social Responsibility Committee

    Chair M S JAGAN

    RAJESH RAMNIKLAL MUNI, CAUVERY DHARMARAJ, MURALI GOPALAKRISHNAN

    • 10 Aug 20264 of 4 present3 independent · 94 days in between
    • 7 May 20264 of 4 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 K A & Associates LLPPeer-review certificate valid to Jul 2027
1 earlier auditor
  • M S K A & AssociatesNamed in filings from Mar 2025 to Sep 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.

Inspirisys Solutions 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.Inspirisys Solutions dividend history

Annual general meeting, 30 Jun 2026

7,655 shareholders on the register on 23 Jun 2026; present: 1 promoter and 47 others; votes counted by M. Alagar / Alagar & Associates LLP (Formally known as M. Alagar & Associates).The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31st March 2026, together with 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 0.13%

    Turnout: all 70.10% · promoters 100.00% · institutions 0.00% · other public 0.49%

  2. To appoint a Director in place of Mr. Toru Horiuchi, (DIN: 08111162) who retires by rotation in accordance with the provisions of the Companies Act, 2013 and, being eligible, offers himself for re-appointment.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 70.10% · promoters 100.00% · institutions 0.00% · other public 0.49%

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.

Annual general meeting, 27 Jun 2025, 3 resolutions

8,254 shareholders on the register on 19 Jun 2025; present: 1 promoter and 33 others; votes counted by M. Alagar / Alagar & Associates LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31st March 2025, together with the Reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.07% · promoters 100.00% · institutions 0.00% · other public 3.74%

  2. To appoint a Director in place of Mr. Murali Gopalakrishnan, (DIN: 08066529) 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 0.02%

    Turnout: all 71.07% · promoters 100.00% · institutions 0.00% · other public 3.74%

  3. Appointment of Secretarial Auditors M/s. S Dhanapal & Associates LLP, Practicing Company Secretary (Firm Reg. No. L2023TN014200) for a term of 5 years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.07% · promoters 100.00% · institutions 0.00% · other public 3.74%

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

Postal ballot, 19 Dec 2024, 3 resolutions

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

  1. Appointment of Mr. Satoshi Iwanaga (DIN: 10817792) as the Non-Executive (Non-Independent Director) of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.22%

    Turnout: all 70.17% · promoters 100.00% · institutions 0.00% · other public 0.74%

  2. Re-appointment of Mr. M S Jagan (DIN: 02002827) as an Independent Director of the Company for a second consecutive term of 5 years
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.34%

    Turnout: all 70.17% · promoters 100.00% · institutions 0.00% · other public 0.74%

  3. Re-appointment of Mr. Murali Gopalakrishnan (DIN: 08066529) as the Whole Time Director, designated as Executive Director cum Chief Executive Officer of the Company for a term of 3 years
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.37%

    Turnout: all 70.17% · promoters 100.00% · institutions 0.00% · other public 0.74%

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

Postal ballot, 19 Sep 2024, 1 resolution

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

  1. Appointment of Mrs. Cauvery Dharmaraj (DIN: 02917088) as an Independent Director of the Company for a term of 5 years
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.30%

    Turnout: all 71.05% · promoters 100.00% · institutions 0.00% · other public 3.66%

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

Annual general meeting, 28 Jun 2024, 3 resolutions

Present: 1 promoter and 34 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the Financial Year ended 31st March 2024 together with the Reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.74%

    Turnout: all 70.22% · promoters 100.00% · institutions 0.00% · other public 0.90%

  2. To appoint a Director in place of Mr. Toru Horiuchi (DIN: 08111162) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 0.00% · other public 36.56%

    Turnout: all 70.22% · promoters 100.00% · institutions 0.00% · other public 0.90%

  3. Appointment of M/s. MSKA & Associates, Chartered Accountants (Firm Registration Number: 105047W) as Statutory Auditors of the Company till the conclusion of 34th AGM of the Company to be held for the Financial Year 2028-29.MoreLess
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.74%

    Turnout: all 70.22% · promoters 100.00% · institutions 0.00% · other public 0.90%

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, 29 Dec 2023, 1 resolution

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

  1. Approval for Voluntary Delisting of Equity Shares having a face value of Rs.10/- (Indian Rupees Ten Only) each of Inspirisys Solutions Limited in accordance with Securities and Exchange Board of India (Delisting of Equity Shares) Regulations 2021 as amended (“SEBI Delisting Regulations”).MoreLess
    SpecialPromoters have an interest in it
    95.85% for4.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 21.84%

    Turnout: all 86.39% · promoters 100.00% · institutions 0.00% · other public 54.93%

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 Jun 2023, 2 resolutions

Present: 1 promoter and 40 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31st March, 2023 together with 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 0.01%

    Turnout: all 71.50% · promoters 100.00% · institutions 0.00% · other public 5.16%

  2. To appoint a Director in place of Mr. Murali Gopalakrishnan, (DIN: 08066529) 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 71.50% · promoters 100.00% · institutions 0.00% · other public 5.16%

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.

Postal ballot, 20 Nov 2022, 3 resolutions

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

  1. To appoint Mr.Murali Gopalakrishnan (DIN: 08066529) as a Director.
    Ordinary
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.00% · other public 21.80%

    Turnout: all 70.31% · promoters 100.00% · institutions 0.00% · other public 1.20%

  2. To appoint Mr.Murali Gopalakrishnan (DIN: 08066529) as a Whole Time Director to be designated as Executive Director cum Chief Executive Officer.
    Special
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.00% · other public 22.50%

    Turnout: all 70.31% · promoters 100.00% · institutions 0.00% · other public 1.20%

  3. To appoint Mr.Toru Horiuchi (DIN: 08111162) as a Non-Executive (Non-Independent) Director of the company.
    Ordinary
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.00% · other public 21.80%

    Turnout: all 70.31% · promoters 100.00% · institutions 0.00% · other public 1.20%

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.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeUOI acting through Central Railways (Rs.194 lakhs)Since 16 Jul 2022
    Railways' appeal has been dismissed on the ground of limitation. The court has, at Railways' request, stayed the order for 4 weeks in order to grant Railways a chance to appeal. After the 4 weeks are over, if Railways does not get the stay extended from the appeal court, we can move forward with our execution and get the money which is lying in court released to usMoreLess
    At the filing before: Rejoinder petition to be filed by the CR to establish that their appeal was filed within the prescribed limitation period. The respondents did not appear at the last hearing, and the next date of hearing is yet to be confirmed.MoreLess
  • Tax disputePresiding Officer, Employees Provident Fund Appellate Tribunal, New Delhi (Rs.200 Lakhs)Since 2 Jan 2011
    The special campain has been alloted for section 14 B and this case is under section 7A so it is under trial in Tribunal and posted on 8.10.2026.
    At the filing before: The case has been referred to special campaingn for settlement and posted on 16th July 2026.
  • Tax disputeVinjane Centre, rep by its partners 1) Mr. Cleetus Vincent and 2) Mrs. Imelda CleetusSince 7 Jan 2020
    To serve the summon to the Respondent court has ordered police to findout the concern person.
    At the filing before: Summon not served due to non availability of person.
  • Tax disputeDeputy Commercial Tax Officer - 1, Commercial Tax Department Begumpet Division, Hyderabad (Rs.82 Lakhs)Since 14 Aug 2023
    Company received a dismissal Order No 11 dt.24.01.26 from Appellate Joint Commissioner ( CT) Hyderabad In response, an appeal against the said order has been duly filed by the company before the Telangana VAT Appellate Tribunal, Hyderabad on 26.03.2026. The matter is now pending adjudication before the TribunalMoreLess
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.73.49 Lakhs)Since 26 Oct 2010
    1. ITAT has remanded back the case for fresh assessment by the AO for depreciation of temporary partition. 2. CIT (appeals) has dismissed the disallownace of prior period expenses
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.424.18 Lakhs)Since 29 Dec 2009
    1. Pending with High Court in respect of Depreciation on Application Software and IPO Expenses. 2. ITAT has remanded back the case for fresh assessment by the AO for Depreciation of Temporary Partition. 3. ITAT disallowed 2% on exempted income u/s. 14A.MoreLess
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.388.10 Lakhs)Since 28 Dec 2010
    1. Pending with High Court in respect of Depreciation on Application Software, IPO Expenses and disallowance u/s 14A. 2. ITAT has remanded back the case for fresh assessment by the AO with regard to depreciation on Temporary Partition and disallowance u/s 14A.MoreLess
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs. 433.61 Lakhs)Since 27 Dec 2016
    The Appeal is pending with Commissioner of Income Tax (Appeals) Chennai
12 more
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.34.19 Lakhs)Since 30 Mar 2013
    1. Pending with High Court in respect of Depreciation on Application Software, IPO Expenses and disallowance u/s.14A. 2. ITAT has remanded back the case for fresh assessment by the AO with regard to depreciation on Temporary Partition.MoreLess
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.117.10 Lakhs)Since 25 Mar 2014
    1. Pending with High Court in respect of IPO expenses. 2. ITAT has remanded back Depreciation on Temporary Partition and Interest on interest free advance to related parties to AO.
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.190.92 lakhs)Since 31 May 2015
    ITAT has passed the order on 26-07-2024. As we have not yet received any giving effect order from AO, we are awaiting for further proceedings.
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.248.91 Lakhs)Since 31 Mar 2016
    The case is pending with Commissioner of Income Tax (appeals) Chennai.
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.411.77 Lakhs)Since 30 Dec 2016
    ITAT has passed the order on 26-07-2024. As we have not yet received any giving effect order from AO, we are awaiting for further proceedings.
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.181.68 Lakhs)Since 27 Dec 2017
    ITAT has passed the order on 26-07-2024. As we have not yet received any giving effect order from AO, we are awaiting for further proceedings.
  • Tax disputeAssessing Officer, Income tax Department, Chennai (Rs.2744 Lakhs)Since 30 Dec 2018
    The Appeal is pending with Commissioner of Income Tax (Appeals) Chennai.
  • Tax disputeCIT Appeals Chennai (Rs. 109.65 Lakhs)Since 9 Mar 2022
    The case is pending with Commissioner of Income Tax (appeals) Chennai.
  • Tax disputeAdditional Commissioner, Central Tax & Central Excise, Audit - I, Commissionerate, Chennai (Rs. 264 Lakhs)Since 25 Sep 2023
    The Company has filed an appeal before the Hon'ble GST Appellate Tribunal (GSTAT) on 23 June 2026 against the impugned order passed by the Commissioner (Appeals-I), Chennai.
  • Tax disputeExcise & Taxation Officer of State Tax-cum-proper Officer SGST, Gurugram (East) (Rs.47 Lakhs)Since 29 Sep 2023
    Fy 2017-2018 - The demand was revised to Rs 11.22 lacs . Online appeal is filed with The Appellate Authority , Haryana GST Department against the said demand . The appeal was filed on 22.03.24 against ARN Ref No.AD060324052680C. Matter is pending to be heard.MoreLess
  • Tax disputeIncome Tax Department, Office of the Income Tax Officer, Corporate Ward 1(1) Chennai, (Rs. 111.88 Lakhs)Since 10 Mar 2025
    The Company has received an order today ( 26.03.2026 ) u/s 154 Revising the tax liability for the said year on account of disallowing the transactions totalling to Rs. 1,11,88,760 and has raised a demand of Rs. 1,12,48,270 which includes interest u/s 234 - A, B & C. The company is evaluating various options including filing of an appeal.MoreLess
  • Tax disputeIncome Tax Department, Office of the Income Tax Officer, Corporate Ward 1(1) Chennai, (Rs. 36.14 Lakhs)Since 28 Mar 2025
    Reply to the Show Cause Notice under Section 148A has been submitted. No further communication has been received from the department.

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
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.