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Nitiraj Engineers CEO, MD, chairman, board of directors and AGM

NSE: NITIRAJElectrical EquipmentSmall Cap

Last close ₹195.65down ₹5.32 (2.65%)

Share price at the NSE close on 23 Oct 2026. Previous close ₹200.97.

52-week range of traded prices to 23 Oct 2026
₹168.00Low, 1 Jun 2026₹241.00High, 4 Sep 2026
Market cap
₹201 Cr2,399th largest listed
P/E
83.3
P/B
2.4
Dividend yield
Nonein the last 12 months
ROE
2.9%
ROCE
2.3%
Debt to equity
0.00
Volume, NSE
1,06079.0% delivered

Nitiraj Engineers 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

  • Chairperson and managing director and CEORAJESH RAGHUNATH BHATWAL
  • Company Secretary and Compliance OfficerSoni Karwa

8 directors4 independent4 executive

  • RAJESH RAGHUNATH BHATWAL · Chairperson and managing director and CEOExecutive · joined Apr 1999 · reappointed Sep 2024 · 1 listed board · 2 committee seats
  • SHAKUNTALA RAJESH BHATWALExecutive · joined Apr 1999 · reappointed Sep 2025 · 1 listed board · 1 committee seat
  • YI HUNG SINExecutive · joined Jul 2003 · reappointed Sep 2025 · 1 listed board
  • GAJENDRA SHARADCHANDRA DESHMUKHExecutive · joined Feb 2024 · reappointed Feb 2024 · 1 listed board · 1 committee seat
  • PRANIT ANIL BANGADIndependent · joined Jan 2022 · reappointed Jan 2022 · 60 months as independent · 1 listed board · 1 as independent · 1 committee seat, 2 as chair
  • DEEPAM PRADEEP SHAHIndependent · joined Jan 2022 · reappointed Jan 2022 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • PRADEEP CHANDRAKANT SHAHIndependent · joined Feb 2024 · reappointed Feb 2024 · 60 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • ANIL NANDKISHOR BANGADIndependent · joined Feb 2025 · reappointed Feb 2025 · 60 months as independent · 1 listed board · 1 as independent

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
  • AVINASH RAJARAM CHANDSARKAR, left 15 Jan 2025: Others

Committees and meetings

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

  • Board

    • 9 Jun 20267 of 8 present4 independent · 10 days in between
    • 29 May 20268 of 8 present4 independent · 104 days in between
    • 13 Feb 20268 of 8 present4 independent · 6 days in between
    • 6 Feb 20267 of 8 present4 independent

  • Audit Committee

    Chair PRANIT ANIL BANGAD

    DEEPAM PRADEEP SHAH, RAJESH RAGHUNATH BHATWAL

    • 21 May 20263 of 3 present2 independent · 100 days in between
    • 9 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair DEEPAM PRADEEP SHAH

    PRANIT ANIL BANGAD, PRADEEP CHANDRAKANT SHAH

    • 2 Jun 20263 of 3 present3 independent · 11 days in between

  • Stakeholders Relationship Committee

    Chair PRADEEP CHANDRAKANT SHAH

    GAJENDRA SHARADCHANDRA DESHMUKH, SHAKUNTALA RAJESH BHATWAL

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair PRANIT ANIL BANGAD

    RAJESH RAGHUNATH BHATWAL, DEEPAM PRADEEP SHAH

    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.

  • SHARP AARTH & CO LLPPeer-review certificate valid to Jan 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.

Nitiraj Engineers 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.Nitiraj Engineers dividend history

Annual general meeting, 28 Sep 2026

3,303 shareholders on the register on 21 Sep 2026; present: 3 promoters and 21 others; votes counted by CA Yash Goyal / YASH H. GOYAL & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To Receive, Consider and adopt the Standalone Audited Financial statements of the company for the financial year ended 31st March, 2026 along with Directors Report and Audited Report of the Company.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 82.10% · promoters 99.95% · institutions 0.00% · other public 41.84%

  2. To appoint director in place of Mr. Yi Hung Sin DIN: 01953871, who retires by rotation at this Annual General meeting and being eligible offers himself for re- appointment.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 82.10% · promoters 99.95% · institutions 0.00% · other public 41.84%

  3. Ratification of Remuneration of Cost Auditors for the Financial Year 2026-27
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 82.10% · promoters 99.95% · institutions 0.00% · other public 41.84%

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, 9 Mar 2026, 1 resolution

3,985 shareholders on the register on 30 Jan 2026; votes counted by CA Yash Goyal / YASH H. GOYAL & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Approval of statement of deviation / variation in utilization of proceeds of public issue and approval of proposed deviation of unutilized issue expenses.
    Special
    100.00% for0.00% against

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

    Turnout: all 77.19% · promoters 99.95% · institutions 0.00% · other public 26.36%

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, 23 Sep 2025, 11 resolutions

4,308 shareholders on the register on 16 Sep 2025; present: 4 promoters and 17 others; votes counted by CA YASH H GOYAL / Yash H Goyal & Associates.The company's voting result (opens in a new tab)

  1. To Receive, Consider and adopt the Standalone Audited Financial statements of the company for the financial year ended 31st March, 2025 along with Directors Report and Audited Report of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  2. To declare final dividend on equity shares for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  3. To appoint director in place of Mr. Gajendra Deshmukh (DIN : 10466748), 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 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  4. Ratification of Remuneration of Cost Auditors for the Financial Year 2025-26
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  5. To consider and approve the appointment of M/s D Sagar & Associates, Practicing Company Secretary, as Secretarial Auditor of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  6. Revision in remuneration payable to Mr. Rajesh Bhatwal, 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 0.00%

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  7. Revision in remuneration payable to Mrs. Shakuntala Bhatwal, Whole Time Director of the company.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  8. Revision in remuneration payable to Mr. Yi Hung Sin, Whole Time Director of the company.
    Special
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  9. Revision in remuneration payable to Mr. Gajendra Deshmukh, Whole Time Director of the company.
    Special
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  10. To consider and approve the re-appointment of Mrs. Shakuntala Bhatwal, Whole-time Director of the company
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

  11. To consider and approve the re-appointment of Mr. Yi Hung Sin, Whole-time Director of the company
    Special
    100.00% for0.00% against

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

    Turnout: all 82.74% · promoters 99.95% · institutions 0.00% · other public 44.29%

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.

Extraordinary general meeting, 9 May 2025, 2 resolutions

4,502 shareholders on the register on 2 May 2025; present: 3 promoters and 14 others; votes counted by YASH H GOYAL & ASSOCIATES / YASH.The company's voting result (opens in a new tab)

  1. REGULARIZATION OF ADDITIONAL INDEPENDENT DIRECTOR, MR. ANIL NANDKISHOR BANGAD (DIN: 07186755) BY APPOINTING HIM AS AN INDEPENDENT DIRECTOR OF THE COMPANY.
    Special
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.04%

    Turnout: all 81.78% · promoters 99.96% · institutions 0.00% · other public 41.21%

  2. TO INCREASE OVERALL MANAGERIAL REMUNERATION PAYABLE FROM 11% OF THE NET PROFITS OF THE COMPANY
    Special
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.04%

    Turnout: all 81.78% · promoters 99.96% · institutions 0.00% · other public 41.21%

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, 24 Sep 2024, 6 resolutions

Present: 3 promoters and 21 others.The company's voting result (opens in a new tab)

  1. Resolution 1 :Adoption of Audited Financial Statement.nTo receive, consider and adopt Standalone Audited Financial statements of the company for the financial year ended 2023-24 as on 31st March, 2024 along with Directors Report and Audited Report of the Company.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.55% · promoters 99.07% · institutions 0.00% · other public 29.49%

  2. Resolution 2 :To Ratify Appointment of M/s. SHARP AARTH & CO, Chartered Accountants Statutory Auditors and Fix Their Remuneration in This Regards Pass With Or Without Modification(S), The Following Resolution As An Ordinary Resolution.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.55% · promoters 99.07% · institutions 0.00% · other public 29.49%

  3. Resolution 3 :To declare final dividend on equity shares for the financial year ended March 31, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.55% · promoters 99.07% · institutions 0.00% · other public 29.49%

  4. Resolution 4 :To appoint director in place of Mrs. Shakuntala Rajesh Bhatwal (DIN : 01953906), who retires by rotation at this Annual General meeting and being eligible offers herself for re- appointmentMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.55% · promoters 99.07% · institutions 0.00% · other public 29.49%

  5. Resolution 5 :Reappointment of Mr. Rajesh Bhatwal (DIN: 00547575) as Managing Director & CEO of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.55% · promoters 99.07% · institutions 0.00% · other public 29.49%

  6. Resolution 6 :To fix the remuneration of Cost Auditors and in this regard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.55% · promoters 99.07% · institutions 0.00% · other public 29.49%

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, 2 Apr 2024, 3 resolutions

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

  1. Appointment of Mr. Pradeep Shah (DIN: 07186761), as Non-Executive Independent Directors of the company
    Special
    100.00% for0.00% against

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

    Turnout: all 81.24% · promoters 99.96% · institutions 0.00% · other public 39.44%

  2. Appointment of Mr. Gajendra Deshmukh (DIN: 10466748), as Whole -Time Executive Director of the company
    Special
    100.00% for0.00% against

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

    Turnout: all 81.24% · promoters 99.96% · institutions 0.00% · other public 39.44%

  3. Addition in the Object Clause of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 81.24% · promoters 99.96% · institutions 0.00% · other public 39.44%

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, 25 Sep 2023, 3 resolutions

Present: 4 promoters and 11 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt Standalone and Consolidated Audited Financial statements including Profit and Loss Account Balance Sheet, for the year ended on 31st March, 2023 along with Directors Report and Audited Report of the CompanyMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.56% · promoters 99.95% · institutions 0.00% · other public 30.78%

  2. To Re-Appoint M/s. SHARP AARTH & CO, Chartered Accountants Statutory Auditors And Fix Their Remuneration.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.56% · promoters 99.95% · institutions 0.00% · other public 30.78%

  3. To consider re-appointment of Mr. Yu Hung Sin, Whole Time Director holding (DIN-01953871), who retires by rotation.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.56% · promoters 99.95% · institutions 0.00% · other public 30.78%

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, 19 Jan 2023, 1 resolution

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

  1. To approve sale of shares of Hyper Drive Information Technologies Pvt. Ltd, Associate of the Company
    Special
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.69%

    Turnout: all 83.03% · promoters 99.95% · institutions 0.00% · other public 45.26%

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.

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.

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 elsewhereSpent elsewhere, amountReason and comments
Public IssuesMar 201722.01Expansion of Marketing Network and Brand building0.780.78Yes0.23
The Company had undertaken a public issue of equity shares aggregating to ₹ 2200.80 Lac pursuant to the Offer Document dated 09th February 2017 (“Public Issue”). The proceeds of the Public Issue were proposed to be utilized towards the objects stated in the Offer Document, including payment of issue expenses. Original Object of the Issue (as per Offer Document) Sr. No. Object Amount (₹ in Lac) 1 Development of new products 525.00 2 Setting up manufacturing Unit for the existing and enrage of products 575.00 3 Expansion of Marketing Network and Brand building 500.00 4 General Corporate Purposes 500.00 5 Issue Expenses 100.80 Total 2200.80 Actual Utilisation of Issue Proceeds The Company has fully utilised the issue proceeds towards all the stated objects except issue expenses, as detailed below: Sr. No. Object Amount (₹ in Lac) 1 Development of new products 525.00 2 Setting up manufacturing Unit for the existing and enrage of products 575.00 3 Expansion of Marketing Network and Brand building 500.00 4 General Corporate Purposes 500.00 5 Issue Expenses 77.88 Total 2177.88 Unutilised Proceeds Due to optimisation of professional fees and other issue-related costs, the actual issue expenses incurred were lower than estimated, resulting in unutilised proceeds of ₹ 22.92 Lakhs, calculated as under: Sr. No. Particulars Amount (₹ in Lac) 1 Issue expenses as per Offer Document 100.80 2 Actual issue expenses incurred 77.88 3 Unutilised issue expenses 22.92 Details of Deviation / Variation (Regulation 32) The Board of Directors, at its meeting held on 30th August 2025, approved the proposal to utilise the unutilised issue expenses amounting to ₹ 22.92 Lakhs towards Expansion of Marketing Network and Brand building, which was one of the original objects of the Public Issue Proposed Revised Utilisation Sr.No. Particulars Amount (₹ in Lacs) 1 Expansion of Marketing Network and Brand building 22.92MoreLess
₹ 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.