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Karma Energy CEO, MD, chairman, board of directors and AGM

NSE: KARMAENGBSE: 533451PowerSmall Cap

Last close ₹31.86down ₹0.61 (1.88%)BSE ₹32.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹32.47.

52-week range of traded prices to 23 Oct 2026
₹31.43Low, 22 Oct 2026₹60.87High, 23 Oct 2025
Market cap
₹37 Cr3,422nd largest listed
P/E
41.8
P/B
0.9
Dividend yield
Nonein the last 12 months
ROE
2.2%
ROCE
−10.0%
Debt to equity
0.02
Volume, NSE
93581.4% delivered

Karma Energy 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

  • ChairpersonDharmendra Gulabchand Siraj
  • Managing director and CEOChetan Durgadas Mehra
  • Company Secretary and Compliance OfficerT V Subramanian

6 directors2 independent1 executive3 non-executive

  • Dharmendra Gulabchand Siraj · ChairpersonNon-executive · joined Aug 2010 · reappointed Jul 2023 · 2 listed boards · 4 committee seats, 1 as chair
  • Chetan Durgadas Mehra · Managing director and CEOExecutive · joined Mar 2007 · reappointed Dec 2023 · 3 listed boards · 1 as independent · 3 committee seats
  • Neelkamal Vrajlal SirajNon-executive · joined Aug 2010 · reappointed Dec 2022 · 2 listed boards · 2 committee seats
  • Smita Vinesh DavdaIndependent · joined Mar 2015 · reappointed Jul 2022 · 60 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 1 as chair
  • Balady Shekar ShettyIndependent · joined May 2017 · reappointed Jul 2022 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Hitesh Vrajlal SirajNon-executive · joined Oct 2024 · 2 listed boards

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

    • 28 May 20266 of 6 present2 independent · 104 days in between
    • 12 Feb 20266 of 6 present2 independent

  • Audit Committee

    Chair Balady Shekar Shetty

    Neelkamal Vrajlal Siraj, Smita Vinesh Davda

    • 28 May 20263 of 3 present2 independent · 104 days in between
    • 12 Feb 20262 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Balady Shekar Shetty

    Dharmendra Gulabchand Siraj, Smita Vinesh Davda

    • 28 May 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Dharmendra Gulabchand Siraj

    Smita Vinesh Davda, Chetan Durgadas Mehra

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Balady Shekar Shetty

    Dharmendra Gulabchand Siraj, Chetan Durgadas Mehra

    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 Jun 2026.

  • Batliboi & PurohitPeer-review certificate valid to Apr 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.

Karma Energy 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.Karma Energy dividend history

Annual general meeting, 23 Jul 2026

11,263 shareholders on the register on 16 Jul 2026; present: 15 promoters and 17 others; votes counted by MARTINHO FERRAO / MARTINHO FERRAO & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial statements together with Report of the Directors and Auditors for the year ended 31st March, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.62% · promoters 100.00% · institutions 0.00% · other public 19.44%

  2. Re-appointment of Shri Neelkamal Vrajlal Siraj as Director, who retires by rotation and being eligible has offered himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.62% · promoters 100.00% · institutions 0.00% · other public 19.44%

  3. Re-appointment and Revision in Remuneration of Mr. Chetan Durgadas Mehra as Managing Director of the Company.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 79.62% · promoters 100.00% · institutions 0.00% · other public 19.44%

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.

Postal ballot, 25 Mar 2026, 3 resolutions

9,515 shareholders on the register on 20 Feb 2026; votes counted by Martinho Ferrao / Martinho Ferrao & Associates.The company's voting result (opens in a new tab)

  1. To approve Related party transaction with M/s. Tapi Energy Projects Limited
    OrdinaryPromoters have an interest in it
    99.70% for0.30% against

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

    Turnout: all 4.95% · promoters 0.00% · institutions 0.00% · other public 19.57%

  2. To approve Related Party Transaction with M/s. Windia Infrastructure Finance Limited
    OrdinaryPromoters have an interest in it
    99.70% for0.30% against

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

    Turnout: all 4.95% · promoters 0.00% · institutions 0.00% · other public 19.57%

  3. To approve continuation of directorship of Mr. Dharmendra Gulabchand Siraj (DIN : 00025543) as a Non-Executive Non Independent Director of the company post attaining the age of 75 years.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

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

    Turnout: all 63.67% · promoters 78.60% · institutions 0.00% · other public 19.57%

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

Annual general meeting, 25 Sep 2025, 3 resolutions

11,568 shareholders on the register on 18 Sep 2025; present: 15 promoters and 19 others; votes counted by Martinho Ferrao / Martinho Ferrao & Associates.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial statements together with Report of the Directors and Auditors for the year ended 31st March, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.38% · promoters 100.00% · institutions 0.00% · other public 18.47%

  2. To appoint a director in place of Shri Dharmendra Gulabchand Siraj (DIN:00025543), who retires by rotation and being eligible has offered himself for re-appointment
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.38% · promoters 100.00% · institutions 0.00% · other public 18.47%

  3. To consider appointment of M/s. Martinho Ferrao and Associates, Practising company Secretaries as Secretarial Auditor of the company for a period of 5 consecutive years commencing from Financial year 2025-2026.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.38% · promoters 100.00% · institutions 0.00% · other public 18.47%

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 Mar 2025, 2 resolutions

11,442 shareholders on the register on 21 Feb 2025; votes counted by Martinho Ferrao / Martinho Ferrao & Associates.The company's voting result (opens in a new tab)

  1. To approve Related party transaction with M/s. Tapi Energy Projects Limited
    OrdinaryPromoters have an interest in it
    99.94% for0.06% against

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

    Turnout: all 5.94% · promoters 0.00% · institutions 0.00% · other public 23.49%

  2. To approve Related Party Transaction with M/s. Windia Infrastructure Finance Limited
    OrdinaryPromoters have an interest in it
    99.94% for0.06% against

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

    Turnout: all 5.94% · promoters 0.00% · institutions 0.00% · other public 23.48%

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 Dec 2024, 1 resolution

9,268 shareholders on the register on 22 Nov 2024; votes counted by MARTINHO FERRAO / MARTINHO FERRAO & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Hitesh Vrajlal Siraj (DIN:00058048) as Director
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.20%

    Turnout: all 80.72% · promoters 100.00% · institutions 0.00% · other public 23.77%

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 Jul 2024, 2 resolutions

Present: 36 promoters and 7,649 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial statements for the year ended 31st March, 2024 and the report of the board of directors and statutory Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.92% · promoters 100.00% · institutions 0.00% · other public 24.56%

  2. Re-appointment of Shri Neelkamal Vrajlal Siraj as Director who retires by rotation
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.92% · promoters 100.00% · institutions 0.00% · other public 24.56%

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 Mar 2024, 2 resolutions

Present: 0 promoters.The company's voting result (opens in a new tab)

  1. Approval of Material Related Party Transaction with Tapi Energy Projects Limited
    OrdinaryPromoters have an interest in it
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 8.23% · promoters 0.00% · institutions 0.00% · other public 32.53%

  2. Approval of Material Related Party Transaction with Windia Infrastructure Finance Limited
    OrdinaryPromoters have an interest in it
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 8.23% · promoters 0.00% · institutions 0.00% · other public 32.53%

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, 17 Jan 2024, 2 resolutions

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

  1. Approval of Material Related Party Transaction with Tapi Energy Projects Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 8.22% · promoters 0.00% · institutions 0.00% · other public 32.50%

  2. Approval of Material Related Party Transaction with Windia Infrastructure Finance Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 8.22% · promoters 0.00% · institutions 0.00% · other public 32.50%

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.

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyBSE LimitedSince 6 Apr 2026

    Penal action prescribed for non-compliance of certain provisions of SEBI (LODR) Regulations, 2015 being in the nature of fine levied of Rs.580560.00

    Regulation 17(1), 18(1) & 19(1)
  • Tax disputeIncome Tax Department of AY 2018-19Since 10 Mar 2021
    Online Submission to CITA
    At the filing before: Appeal to ITAT, Disposal pending
  • Tax disputeDeputy Comissioner of State TaxSince 22 Nov 2022
    Filed appeal before Appellate Authority
    At the filing before: Pending Disposal

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
Yes
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.