Indo-National logo

Indo-National MD, chairman, board of directors and AGM

NSE: NIPPOBATRYBSE: 504058Household ProductsSmall Cap

Formerly Nippo Batteries Company
Last close ₹293.90down ₹2.15 (0.73%)BSE ₹291.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹296.05.

52-week range of traded prices to 23 Oct 2026
₹257.00Low, 30 Mar 2026₹469.00High, 8 May 2026
Market cap
₹220 Cr2,217th largest listed
P/E
Lossover the last 12 months
P/B
0.7
Dividend yield
1.28%
ROE
−6.8%
ROCE
−10.0%
Debt to equity
0.11
Volume, NSE
1,03378.9% delivered

Indo-National 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

  • ChairpersonDEEPA SESHADRI
  • Company Secretary and Compliance OfficerJ.SRINIVASAN

7 directors3 independent2 executive2 non-executive

  • DEEPA SESHADRI · ChairpersonIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 1 listed board · 1 as independent
  • P.DWARAKNATH REDDYExecutive · joined Oct 2014 · reappointed Sep 2025 · 1 listed board · 1 committee seat
  • P. ADITYA REDDYExecutive · joined Sep 2015 · 1 listed board
  • KIRAN JOSEPHIndependent · joined Apr 2024 · reappointed Apr 2024 · 26 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • MURALI SUBRAMANIAMIndependent · joined Dec 2024 · reappointed Dec 2024 · 18 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • SUNEETA REDDYNon-executive · joined Jun 2025 · reappointed Jun 2025 · 4 listed boards · 1 as independent · 2 committee seats
  • BITRA LAKSHMI NARAYANA PRASADNon-executive · joined Aug 2025 · reappointed Aug 2025 · 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
  • M. SANKARA REDDY, left 6 Jun 2025: Others

Committees and meetings

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

  • Board

    • 15 May 20267 of 7 present3 independent · 14 days in between
    • 30 Apr 20266 of 7 present3 independent · 51 days in between
    • 9 Mar 20265 of 7 present3 independent · 32 days in between
    • 4 Feb 20267 of 7 present3 independent · 20 days in between
    1 earlier meeting
    • 14 Jan 20265 of 7 present3 independent

  • Audit Committee

    Chair DEEPA SESHADRI

    KIRAN JOSEPH, MURALI SUBRAMANIAM

    • 15 May 20263 of 3 present3 independent · 14 days in between
    • 30 Apr 20263 of 3 present3 independent · 51 days in between
    • 9 Mar 20263 of 3 present3 independent · 32 days in between
    • 4 Feb 20263 of 3 present3 independent · 20 days in between
    1 earlier meeting
    • 14 Jan 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair KIRAN JOSEPH

    DEEPA SESHADRI, MURALI SUBRAMANIAM

    • 15 May 20263 of 3 present3 independent · 120 days in between
    • 14 Jan 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair DEEPA SESHADRI

    KIRAN JOSEPH, P.DWARAKNATH REDDY

    • 1 Apr 20263 of 3 present2 independent · 21 days in between
    • 10 Mar 20263 of 3 present2 independent · 14 days in between
    • 23 Feb 20263 of 3 present2 independent

  • Risk Management Committee

    Chair DEEPA SESHADRI

    KIRAN JOSEPH, MURALI SUBRAMANIAM

    • 4 Feb 20263 of 3 present3 independent

  • Corporate Social Responsibility Committee

    Chair DEEPA SESHADRI

    P. ADITYA REDDY, MURALI SUBRAMANIAM

    • 30 Apr 20263 of 3 present2 independent · 84 days in between
    • 4 Feb 20263 of 3 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.

  • G BALU ASSOCIATES LLPPeer-review certificate valid to Jun 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.

Indo-National 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.Indo-National dividend history

Annual general meeting, 28 Sep 2026

14,582 shareholders on the register on 21 Sep 2026; present: 2 promoters and 56 others; votes counted by Mr. M.Damodaran / M Damodaran & Associates LLP.The company's voting result (opens in a new tab)

  1. (a) To receive, consider and adopt the Boards Report, Audited Standalone Balance Sheet of the Company as at March 31, 2026 and the statement of Profit and Loss for the year ended that date together with the reports of the Auditors thereon. (b) To receive, consider and adopt the Audited Consolidated financial Statements of the Company for the Financial Year ended March 31, 2026 together with the report of the Auditors thereon.MoreLess
    Ordinary
    93.04% for6.96% against

    Against: promoters 0.00% · institutions 0.00% · other public 79.99%

    Turnout: all 60.77% · promoters 84.91% · institutions 0.00% · other public 15.26%

  2. To declare a Dividend at the rate of Rs.3.75 per equity share (75% of face value of Rs.5/- each fully paid up) for the Financial Year 2025-26
    Ordinary
    93.04% for6.96% against

    Against: promoters 0.00% · institutions 0.00% · other public 79.99%

    Turnout: all 60.77% · promoters 84.91% · institutions 0.00% · other public 15.26%

  3. To appoint a Director in the place of Ms. Suneeta Reddy (DIN No.00001873) who retires by rotation who, being eligible offers herself for re-appointment.
    OrdinaryPromoters have an interest in it
    93.04% for6.96% against

    Against: promoters 0.00% · institutions 0.00% · other public 79.99%

    Turnout: all 60.77% · promoters 84.91% · institutions 0.00% · other public 15.26%

  4. Approval of the Remuneration payable to the Cost Auditor for the Financial Year 2026-27.
    Ordinary
    93.04% for6.96% against

    Against: promoters 0.00% · institutions 0.00% · other public 80.00%

    Turnout: all 60.77% · promoters 84.91% · institutions 0.00% · other public 15.26%

  5. Payment of Commission/Remuneration to Non- Executive Independent Directors
    Special
    92.49% for7.51% against

    Against: promoters 0.00% · institutions 0.00% · other public 86.36%

    Turnout: all 60.77% · promoters 84.91% · institutions 0.00% · other public 15.26%

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.

Annual general meeting, 26 Sep 2025, 13 resolutions

14,444 shareholders on the register on 19 Sep 2025; present: 3 promoters and 53 others; votes counted by Mr. M.Damodaran / M Damodaran & Associates LLP.The company's voting result (opens in a new tab)

  1. To Consider and Adopt Audited Financial Statements including the Consolidated Financial Statements for the year ended 31st March, 2025 and the Board’s and Auditors Report thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  2. Declaration of dividend on equity shares for the financial year 2024-25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  3. Re-appointment of Mr. P. Dwaraknath Reddy (DIN: 00277929) as Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  4. Re-appointment of Mr. P. Aditya Reddy (DIN: 00482051), as Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  5. Re-appointment of Ms. Suneeta Reddy (DIN: 00001873), as Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  6. Approval for re-appointment of Mr. P. Dwaraknath Reddy (DIN: 00277929) as Managing Director of the Company and payment of remuneration to him.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  7. Approval for re-appointment of Mr. P. Aditya Reddy (DIN: 00482051) as Joint Managing Director of the Company and payment of remuneration to him.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  8. Approval for related party transactions with M/s. Associated Electrical Agencies for a period from 1st October 2025 to 30th September 2030.
    OrdinaryPromoters have an interest in it
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 0.92% · promoters 0.00% · institutions 0.00% · other public 2.65%

  9. Approval for related party transactions with M/s. Apex Agencies for a period from 1st October 2025 to 30th September 2030.
    OrdinaryPromoters have an interest in it
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 0.92% · promoters 0.00% · institutions 0.00% · other public 2.65%

  10. Approval for payment of remuneration to Cost Auditor M/s. B. Thulasiram & Co., Cost Accountant, Chennai (Firm Registration No. 003539), for the Financial Year ending March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  11. Appointment of M/s. M Damodaran & Associates LLP, Company Secretaries (Firm Registration Number: L2019TN006000) as the Secretarial Auditors of the Company for 5 (Five) consecutive Financial Years from 2025-26 to 2029-30.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

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

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

  13. Appointment of Mr. B L N Prasad (DIN: 11238020) as Non-Executive Non-Independent Director of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 56.41% · promoters 84.91% · institutions 0.00% · other public 2.65%

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 Jul 2025, 1 resolution

14,320 shareholders on the register on 13 Jun 2025; votes counted by M.Damodaran / M Damodaran & Associates LLP.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Suneeta Reddy (DIN: 00001873) as a Non-Executive Non-Independent Director of the Company.
    OrdinaryPromoters have an interest in it
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 0.00% · other public 12.37%

    Turnout: all 54.81% · promoters 82.47% · institutions 8.03% · other public 2.64%

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.

Meeting called by the tribunal, 21 Jun 2025, 1 resolution

13,926 shareholders on the register on 14 Jun 2025; present: 2 promoters and 36 others; votes counted by V. SriramAnanth / Sriram Ananth. V.The company's voting result (opens in a new tab)

  1. Pursuant to Regulation 30 read with Schedule Ill of SEBl(Listing Obligations and Disclosure Requirements) Regulations, 2015, the Hon`ble Tribunal Order dated April 29, 2025 in the matter of Scheme of Amalgamation between Helios Strategic Systems Ltd(`Transferor Company`) and Indo-National Limited(`Transferee Company`), the meeting of equity shareholders of the Transferee Company is scheduled to be held on June 21,2025 at 10.00 a.m for the purpose of considering and if through fit, approving with or without modification in the said Scheme.MoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.68%

    Turnout: all 54.01% · promoters 82.47% · institutions 0.00% · other public 0.33%

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, 18 Jan 2025, 1 resolution

13,932 shareholders on the register on 13 Dec 2024; votes counted by M.Damodaran / M Damodaran & Associates LLP.The company's voting result (opens in a new tab)

  1. Appointment of Mr. S. Murali (DIN: 10867356) as an Independent Director of the Company
    Special
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.00% · other public 8.85%

    Turnout: all 56.58% · promoters 84.91% · institutions 0.00% · other public 3.15%

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, 26 Sep 2024, 17 resolutions

Present: 3 promoters and 56 others.The company's voting result (opens in a new tab)

  1. Consider and Adoption of Audited Financial Statements including the Consolidated Financial Statements for the year ended 31st March, 2024 and the Board’s and Auditors Report thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  2. Declaration of Dividend on equity shares for the financial year 2023-24.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  3. Re-appointment of Mr. P. Dwaraknath Reddy (DIN: 00277929) as Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  4. Re-appointment of Mr. R.P.Khaitan (DIN: 00015801) as Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    4.51% for95.49% against

    Against: promoters 0.00% · institutions 0.00% · other public 95.49%

    Turnout: all 5.67% · promoters 0.00% · institutions 0.00% · other public 16.39%

  5. Re-appointment of Mr. P. Aditya Reddy (DIN: 00482051) as Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  6. Re-appointment of Mr. M. Sankara Reddy (DIN: 07212025) as Director, who retires by rotation.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  7. Re-appointment of Mr. P. Dwaraknath Reddy (DIN: 00277929) as Managing Director of the Company for a period of one year w.e.f. 1st October, 2024 and fixing the remuneration.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  8. Re-appointment of Mr. R.P. Khaitan (DIN: 00015801) as Joint Managing Director of the Company for a period of one year w.e.f. 1st October, 2024 and fixing the remuneration.
    SpecialPromoters have an interest in it
    4.50% for95.50% against

    Against: promoters 0.00% · institutions 0.00% · other public 95.50%

    Turnout: all 5.67% · promoters 0.00% · institutions 0.00% · other public 16.39%

  9. Approval for related party transactions with M/s. Radiohms Agencies for a period from 1st October, 2024 to 30th September, 2025.
    OrdinaryPromoters have an interest in it
    2.14% for97.86% against

    Against: promoters 0.00% · institutions 0.00% · other public 97.86%

    Turnout: all 5.71% · promoters 0.00% · institutions 0.00% · other public 16.51%

  10. Approval for related party transaction with M/s. RAL Consumer Products Limited for a period from 1st October, 2024 to 30th September, 2025.
    OrdinaryPromoters have an interest in it
    2.14% for97.86% against

    Against: promoters 0.00% · institutions 0.00% · other public 97.86%

    Turnout: all 5.71% · promoters 0.00% · institutions 0.00% · other public 16.51%

  11. Approval for related party transaction with M/s. Associated Electrical Agencies for a period from 1st October, 2024 to 30th September, 2025.
    OrdinaryPromoters have an interest in it
    97.92% for2.08% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.08%

    Turnout: all 6.41% · promoters 0.00% · institutions 0.00% · other public 18.51%

  12. Approval for related party transaction with M/s. Apex Agencies for a period from 1st October, 2024 to 30th September, 2025.
    OrdinaryPromoters have an interest in it
    97.92% for2.08% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.08%

    Turnout: all 6.41% · promoters 0.00% · institutions 0.00% · other public 18.51%

  13. Approval for payment of remuneration to Cost Auditor Mr. P. Raju Iyer for the financial year ending 31st March, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  14. Approval to make investments, give loans, guarantees and security in excess of limits specified under section 186 of the Companies Act, 2013.
    Special
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  15. Approval to borrow in excess of the limits provided under section 180(1)(c) of the Companies Act, 2013.
    Special
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  16. Increase in limits for creation of charges on the assets of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

  17. Appointment of Ms. Deepa Seshadri (DIN: 10650439) as an Independent Woman Director of the Company for a term of 5 (five) consecutive years with effect from 15th July, 2024 to 14th July, 2029.
    Special
    100.00% for0.00% against

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

    Turnout: all 60.30% · promoters 82.47% · institutions 0.00% · other public 18.51%

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, 2 Jun 2024, 2 resolutions

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

  1. Appointment of Mr. Kiran Joseph (DIN: 05017183) as an Independent Director of the Company
    Special
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 0.00% · other public 18.52%

    Turnout: all 65.38% · promoters 98.35% · institutions 0.00% · other public 3.19%

  2. To consider and approve the divestment of its entire interest in Kineco Limited, a step-down material subsidiary of the Company, by Helios Strategic Systems Limited, a wholly owned subsidiary of the CompanyMoreLess
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.52%

    Turnout: all 65.38% · promoters 98.35% · institutions 0.00% · other public 3.19%

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 2023, 1 resolution

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

  1. 1. Revision of remuneration payable to Mr. P. Aditya Reddy, Joint Managing Director of the Company
    SpecialPromoters have an interest in it
    96.51% for3.49% against

    Against: promoters 0.00% · institutions 0.00% · other public 52.86%

    Turnout: all 69.57% · promoters 99.44% · institutions 0.00% · other public 13.25%

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 and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtMedcuore Medical Solutions Private LimitedSince 13 May 2026

    2.69% bought in the quarter; holding 57.48%, from 54.79%

  • Unlisted stake boughtMedcuore Medical Solutions Private LimitedSince 30 May 2026

    1.68% bought in the quarter; holding 59.16%, from 57.48%

  • Tax disputeITATSince 24 Jan 2025
    Pending with ITAT
  • Tax disputeCIT(A)Since 29 Apr 2025
    Pending with CIT(A)
  • Tax disputeCIT(A)Since 27 Apr 2025
    Pending with CIT(A)
  • Tax disputeCIT(A)Since 6 Dec 2025
    Pending with CIT(A)

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
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.