PG Electroplast logo

PG Electroplast MD, chairman, board of directors and AGM

NSE: PGELBSE: 533581Consumer DurablesSmall Cap

Last close ₹470.05down ₹19.60 (4.00%)BSE ₹472.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹489.65.

52-week range of traded prices to 23 Oct 2026
₹436.55Low, 6 Apr 2026₹644.40High, 5 Jan 2026
Market cap
₹13,479 Cr415th largest listed
P/E
65.5
P/B
4.4
Dividend yield
0.05%
ROE
7.0%
ROCE
8.8%
Debt to equity
0.20
Volume, NSE
16,16,81644.0% delivered

PG Electroplast 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

  • ChairpersonAnurag GuptaRelated to the promoter
  • Managing directorVishal Gupta
  • Managing directorVikas Gupta
  • Company Secretary and Compliance OfficerDeepesh Kedia

8 directors4 independent3 executive1 non-executive

  • Anurag Gupta · ChairpersonExecutive · joined Mar 2003 · reappointed Jul 2025 · 1 listed board · 1 committee seat
  • Vishal Gupta · Managing directorExecutive · joined May 2010 · reappointed Apr 2024 · 1 listed board · 2 committee seats
  • Vikas Gupta · Managing directorExecutive · joined May 2010 · reappointed Apr 2024 · 1 listed board
  • Ram Dayal ModiIndependent · joined May 2021 · reappointed May 2026 · 64 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 4 as chair
  • Raman UberoiIndependent · joined Mar 2023 · reappointed Mar 2023 · 42 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Krishnavatar KhandelwalIndependent · joined Sep 2024 · reappointed Sep 2024 · 24 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Ruchika BansalIndependent · joined Aug 2021 · reappointed Aug 2026 · 61 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
  • Mitali ChitreNominee, non-executive · joined Jul 2021 · reappointed Jul 2024 · 1 listed board · 1 committee seat

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

    • 4 Sep 20266 of 8 present4 independent · 28 days in between
    • 6 Aug 20268 of 8 present4 independent · 26 days in between
    • 10 Jul 20266 of 8 present3 independent · 43 days in between
    • 27 May 20268 of 8 present4 independent

  • Audit Committee

    Chair Ram Dayal Modi

    Vishal Gupta, Raman Uberoi, Krishnavatar Khandelwal, Ruchika Bansal, Mitali Chitre

    • 4 Sep 20264 of 6 present3 independent · 28 days in between
    • 6 Aug 20266 of 6 present4 independent · 26 days in between
    • 10 Jul 20264 of 6 present3 independent · 43 days in between
    • 27 May 20266 of 6 present4 independent

  • Nomination and remuneration committee

    Chair Ram Dayal Modi

    Krishnavatar Khandelwal, Mitali Chitre

    • 30 May 20263 of 3 present2 independent · 39 days in between
    • 20 Apr 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Ram Dayal Modi

    Anurag Gupta, Vishal Gupta

    • 6 Aug 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Vishal Gupta

    Mitali Chitre, Ram Dayal Modi

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Ram Dayal Modi

    Vishal Gupta, Anurag Gupta

    • 4 Sep 20262 of 3 present1 independent · 28 days in between

  • Executive Committee

    Chair Anurag Gupta

    Vishal Gupta, Vikas Gupta

    • 17 Aug 20262 of 3 present0 independent
    • 5 Jun 20262 of 3 present0 independent

  • Corporate Committee

    Chair Vishal Gupta

    Vikas Gupta

    No meeting listed in the filing.

  • QIP Committee 2022-23

    Chair Vishal Gupta

    Anurag Gupta, Vikas Gupta

    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.

  • M/s SS Kothari Mehta & Co LLPPeer-review certificate valid to Aug 2028
1 earlier auditor
  • SS Kothari Mehta & Co LLPNamed in the filing for the quarter to Mar 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.

PG Electroplast 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.PG Electroplast dividend history

Annual general meeting, 29 Sep 2026

2,13,371 shareholders on the register on 18 Sep 2026; present: 3 promoters and 154 others; votes counted by Puja Mishra / Puja Mishra & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (including Consolidated Financial Statements) of the Company for the financial year ended on March 31, 2026, along with the report of the Board of Directors and Statutory Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.14% · promoters 99.97% · institutions 82.10% · other public 4.14%

  2. To declare dividend on equity shares for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.14% · promoters 99.97% · institutions 82.11% · other public 4.14%

  3. To re-appoint Mr. Anurag Gupta (DIN: 00184361) as a Director, who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.33% · other public 0.03%

    Turnout: all 73.14% · promoters 99.97% · institutions 82.10% · other public 4.14%

  4. To appoint Statutory Auditors of the Company and fix their remuneration
    Ordinary
    99.02% for0.98% against

    Against: promoters 0.00% · institutions 2.48% · other public 0.05%

    Turnout: all 73.13% · promoters 99.97% · institutions 82.10% · other public 4.11%

  5. To approve/ratify remuneration of the cost auditor for the Financial Year ending on March 31, 2027,
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.14% · promoters 99.97% · institutions 82.10% · other public 4.14%

  6. To approve grant of loan or guarantee or providing security in connection with loan availed by Joint Venture entity, in whom any of the director of the Company is interested under Section 185 of the Companies Act, 2013MoreLess
    Special
    75.11% for24.89% against

    Against: promoters 0.00% · institutions 62.61% · other public 0.23%

    Turnout: all 73.14% · promoters 99.97% · institutions 82.10% · other public 4.14%

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, 30 Apr 2026, 2 resolutions

2,27,508 shareholders on the register on 27 Mar 2026; votes counted by Ms. Puja Mishra / M/s Puja Mishra & Co..The company's voting result (opens in a new tab)

  1. To re-appoint Mr. Ram Dayal Modi (DIN:03047117) as an Independent Director of the Company and continuation of his directorship after attaining the age of 75 years.
    Special
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 1.00% · other public 0.04%

    Turnout: all 72.09% · promoters 100.00% · institutions 81.87% · other public 12.23%

  2. To re-appoint Mrs. Ruchika Bansal (DIN:06505221) as an Independent Director of the Company.
    Special
    92.68% for7.32% against

    Against: promoters 0.00% · institutions 18.84% · other public 0.04%

    Turnout: all 72.09% · promoters 100.00% · institutions 81.87% · other public 12.23%

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 2025, 5 resolutions

2,60,728 shareholders on the register on 29 Sep 2025; present: 8 promoters and 232 others; votes counted by Puja Mishra / Puja Mishra & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (including Consolidated Financial Statements) of the Company for the financial year ended on March 31, 2025 along with the report of the Board of Directors and Statutory Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 66.07% · promoters 95.85% · institutions 77.41% · other public 1.98%

  2. To declare 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 0.01%

    Turnout: all 66.08% · promoters 95.85% · institutions 77.44% · other public 1.98%

  3. To re-appoint Mr. Vikas Gupta (DIN: 00182241) as a Director, who retires by rotation and, being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 1.42% · other public 0.02%

    Turnout: all 49.52% · promoters 57.89% · institutions 77.41% · other public 1.98%

  4. To approve/ratify remuneration of the Cost Auditor for the financial year ending on March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 66.07% · promoters 95.85% · institutions 77.41% · other public 1.98%

  5. Appointment of J B BHAVE & Co, Company Secretaries, as the Secretarial Auditors of the Company.
    Ordinary
    99.58% for0.43% against

    Against: promoters 0.00% · institutions 1.18% · other public 0.02%

    Turnout: all 66.07% · promoters 95.85% · institutions 77.40% · other public 1.98%

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 Jun 2025, 1 resolution

2,11,481 shareholders on the register on 23 May 2025; votes counted by Ms. Puja Mishra / M/s Puja Mishra & Co..The company's voting result (opens in a new tab)

  1. To re-appoint Mr. Anurag Gupta (DIN:00184361) as Whole Time Director of the company.
    SpecialPromoters have an interest in it
    98.68% for1.32% against

    Against: promoters 0.00% · institutions 4.46% · other public 0.05%

    Turnout: all 66.35% · promoters 98.80% · institutions 77.62% · other public 10.61%

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, 13 Nov 2024, 2 resolutions

Present: 4 promoters and 140 others.The company's voting result (opens in a new tab)

  1. To appoint Mr. Krishnavatar Khandelwal (DIN:00075715) as a Non-Executive Independent Director of the Company
    Special
    98.97% for1.03% against

    Against: promoters 0.00% · institutions 5.81% · other public 0.00%

    Turnout: all 68.26% · promoters 99.58% · institutions 60.06% · other public 11.38%

  2. To approve the raising of funds by way of Qualified Institutions Placement to eligible investors through an issuance of securities by the Company
    Special
    99.37% for0.63% against

    Against: promoters 0.00% · institutions 3.57% · other public 0.01%

    Turnout: all 68.26% · promoters 99.58% · institutions 60.06% · other public 11.38%

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 Sep 2024, 4 resolutions

Present: 5 promoters and 193 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statement (including Consolidated Financial Statements) of the Company for the financial year ended on March 31, 2024, the report of the Board of Directors and Statutory Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.80% · promoters 98.86% · institutions 81.34% · other public 23.83%

  2. To declare 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 74.80% · promoters 98.86% · institutions 81.34% · other public 23.83%

  3. To reappoint Mr. Vishal Gupta (DIN:00184809) as a Director, who retires by rotation and, being eligible, offers himself for reappointment.
    OrdinaryPromoters have an interest in it
    88.36% for11.64% against

    Against: promoters 0.00% · institutions 16.62% · other public 0.00%

    Turnout: all 21.99% · promoters 0.00% · institutions 81.34% · other public 23.83%

  4. To approve/ratify remuneration of the Cost Auditor for the financial year ending on March 31, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.80% · promoters 98.86% · institutions 81.34% · other public 23.83%

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 Jun 2024, 3 resolutions

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

  1. Sub-division/split of face value of equity shares of the Company from Rs. 10/- (Rupees Ten only) each to Rs. 1/- (Rupee One) each.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.17% · promoters 99.53% · institutions 59.77% · other public 20.26%

  2. Alteration of capital clause of Memorandum of Association (MOA) of the Company consequent to the sub-division of the face value of equity shares of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.17% · promoters 99.53% · institutions 59.77% · other public 20.26%

  3. Reappointment of Mrs. Mitali Chitre (DIN:09040978) as the Nominee Director (Non - Executive Director) of the Company.
    Ordinary
    93.53% for6.47% against

    Against: promoters 0.00% · institutions 36.47% · other public 0.00%

    Turnout: all 71.17% · promoters 99.53% · institutions 59.77% · other public 20.26%

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.

Postal ballot, 20 Mar 2024, 3 resolutions

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

  1. To re-appoint Mr. Vishal Gupta (DIN:00184809) as the Managing Director – Finance of the Company.
    SpecialPromoters have an interest in it
    85.61% for14.39% against

    Against: promoters 0.00% · institutions 21.51% · other public 0.00%

    Turnout: all 18.84% · promoters 0.00% · institutions 81.65% · other public 20.13%

  2. To re-appoint Mr. Vikas Gupta (DIN:00182241) as the Managing Director – Operations of the Company.
    SpecialPromoters have an interest in it
    90.19% for9.81% against

    Against: promoters 0.00% · institutions 14.66% · other public 0.00%

    Turnout: all 18.84% · promoters 0.00% · institutions 81.65% · other public 20.13%

  3. To approve remuneration of Mr. Anurag Gupta (DIN:00184361), as the Whole Time Director of the Company.
    SpecialPromoters have an interest in it
    92.62% for7.38% against

    Against: promoters 0.00% · institutions 11.03% · other public 0.01%

    Turnout: all 18.84% · promoters 0.00% · institutions 81.65% · other public 20.13%

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.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 29 Sep 2026, 11 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the Audited Financial Statements (including Consolidated Financial Statements) of the Company for the financial year ended on March 31, 2026, along with the report of the Board of Directors and Statutory Auditors thereon.MoreLess
    11 for0 against
  • To declare dividend on equity shares for the financial year ended March 31, 2026.
    11 for0 against
  • To re-appoint Mr. Anurag Gupta (DIN: 00184361) as a Director, who retires by rotation and being eligible, offers himself for re-appointment
    11 for0 against
  • To appoint Statutory Auditors of the Company and fix their remuneration
    4 for0 against
  • To approve/ratify remuneration of the cost auditor for the Financial Year ending on March 31, 2027,
    11 for0 against
  • To approve grant of loan or guarantee or providing security in connection with loan availed by Joint Venture entity, in whom any of the director of the Company is interested under Section 185 of the Companies Act, 2013MoreLess
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundInadequate disclosures regarding the particulars mandated u/s 185 of Companies Act, 2013. Governance and Transparency Concern: Enabling Approval with Inadequate disclosures – Generic justification and non-disclosure of the recipient(s) of the investments, loans, guarantees and security. Inadequate disclosure regarding pro rata contribution by other shareholders.
    • Edelweiss Mutual Fund, Navi Mutual FundNon-Compliant with Section 185 of the Companies Act, 2013: Inadequate disclosures regarding the particulars mandated u/s 185 of Companies Act, 2013. Governance and Transparency Concern: Enabling Approval with Inadequate disclosures – Generic justification and non-disclosure of the recipient(s) of the investments, loans, guarantees and security. Inadequate disclosure regarding pro rata contribution by other shareholders.
    • HSBC Mutual FundA vote AGAINST this resolution is warranted since the company will be taking in a disproportionate amount of risk relative to its ownership stake without compelling justification.
    • ICICI Prudential Mutual FundThe company seeks shareholder approval to provide loans, guarantees and security of up to Rs. 10.0 bn to its subsidiaries, joint ventures, associates, group entities and other entities in which directors are interested, including promoter group companies and GEPL, a 50% joint venture of the company in television segment with Jaina Group. The proposed approval is enabling in nature and extends beyond specific support proposed for GEPL. The company has not disclosed the entities that may avail of such support, the proposed exposure to each entity, existing outstanding exposure levels, whether support to joint ventures will be extended in proportion to the company's economic interest, and the rationale for determining the aggregate limit sought. Given the lack of clarity on the beneficiaries, extent of exposure and rationale for extending such support, the AMC has voted against the resolution.
    • Jio BlackRock Mutual FundThe company seeks shareholder approval to provide loans, guarantees and security of up to Rs. 10.0 bn to its subsidiaries, joint ventures, associates, group entities and other entities in which directors are interested, including promoter group companies and GEPL, a 50% joint venture of the company in television segment with Jaina Group. The proposed approval is enabling in nature and extends beyond specific support proposed for GEPL. The company has not disclosed the entities that may avail of such support, the proposed exposure to each entity, existing outstanding exposure levels, whether support to joint ventures will be extended in proportion to the company's economic interest, and the rationale for determining the aggregate limit sought. Given the lack of clarity on the beneficiaries, extent of exposure and rationale for extending such support, we do not support the enabling resolution.
    5 for6 against
1 proposal not matched to one resolution
  • Appointment of M/s. B S R and Co. LLP, Chartered Accountants (ICAI Firm Registration No. 101248W/W-100022) as Statutory Auditors of the Company from the conclusion of this 24th Annual General Meeting till the conclusion of 29th Annual General Meeting of the Company on such remuneration as shall be fixed by the Board of Directors of the Company in consultation with the Auditors plus applicable taxes reimbursement of travelling and out of pocket expenses incurred by them for the purpose of audit.MoreLess
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance & Transparency concern: No justification provided for the material/ significant difference in the proposed Auditor’s remuneration vs existing Auditor’s remuneration.
    • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern identified on the merits of proposed Statutory Auditors. Governance & Transparency concern: No justification provided for the material/ significant difference in the proposed Auditor’s remuneration vs existing Auditor’s remuneration.
    4 for3 against

Mutual fund votes, meeting of 30 Apr 2026, 26 fund houses

  • To re-appoint Mr. Ram Dayal Modi (DIN:03047117) as an Independent Director of the Company and continuation of his directorship after attaining the age of 75 years.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Director is serving as Chairperson of both Audit Committee & Nomination & Remuneration Committee committees. A common director acting Chairperson of both the Committees may not be in the best interest of Corporate governance, since, it might lead to concentration of power in the hands of a single individual.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No governance concern identified w.r.t profile, time-commitment, attendance and Independence in regards to the re-appointment and continuation as an Independent Director beyond 75 years of Mr. Modi. Governance Concern: Director is serving as Chairperson of both AC & NRC committees. A common director acting Chairperson of both the Committees may not be in the best interest of Corporate governance, since, it might lead to concentration of power in the hands of a single individual.
    21 for5 against
  • To re-appoint Mrs. Ruchika Bansal (DIN:06505221) as an Independent Director of the Company.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because:• Ruchika Bansal has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
    25 for1 against
6 earlier meetings

Mutual fund votes, meeting of 29 Sep 2025, 24 fund houses

  • To receive, consider and adopt the Audited Financial Statements (including Consolidated Financial Statements) of the Company for the financial year ended on March 31, 2025 along with the report of the Board of Directors and Statutory Auditors thereon.MoreLess
    24 for0 against
  • To declare dividend on equity shares for the financial year ended March 31, 2025.
    24 for0 against
  • To re-appoint Mr. Vikas Gupta (DIN: 00182241) as a Director, who retires by rotation and, being eligible, offers himself for re-appointment.
    24 for0 against
  • To approve/ratify remuneration of the Cost Auditor for the financial year ending on March 31, 2026.
    24 for0 against
  • Appointment of J B BHAVE & Co, Company Secretaries, as the Secretarial Auditors of the Company.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundTransparency Concern: Previous auditors’ remuneration not available; it cannot be ascertained as to whether there is any material change in the proposed Audit fee.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: Previous auditors’ remuneration not available; it cannot be ascertained as to whether there is any material change in the proposed Audit fee.
    19 for5 against

Mutual fund votes, meeting of 26 Jun 2025, 21 fund houses

  • To re-appoint Mr. Anurag Gupta (DIN:00184361) as Whole Time Director of the company.
    Against Angel One Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, SBI Mutual Fund
    • Angel One Mutual FundGovernance concern: Combined position as Executive Chairperson of the Board, may result in concentration of power.
    • Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundRe-appointment compliant with law. No concern on the merits of the proposed appointee. Governance concern: Combined position as Executive Chairperson of the Board, may result in concentration of power.
    • SBI Mutual FundReappoint Anurag Gupta (DIN: 00184361) as Whole time Director for three years from 15 July 2025 and fix his remuneration as minimum remuneration. Anurag Gupta, 54, is the Executive Chairperson. He is part of the promoter family. He has over 31 years of experience in the field of Electronic Manufacturing Services. He is responsible for the development and implementation of technical policies, quality assurance, technological advancement, plant and machinery monitoring, and Research & Development. He has served on the board since 15 July 2003. He has attended seven out of eight board meetings in FY25 (88%).He received a remuneration of Rs. 9.1 mn in FY24. We estimate his FY25 remuneration at Rs. 10.8 mn and his annual remuneration at Rs. 21.4 mn – his overall remuneration is capped at Rs. 42.0 mn annually over his term. We believe his remuneration is in line with peers and commensurate with the size and complexity of the company’s operations. However, we observe that there are 8 Board of Directors (BODs), out of which 4 are classified as independent directors and out of which 1 ID is long tenured, due to long association with the company. Hence, the effective independence is assessed at 38%. We wish to clarify that we do not have any doubt about the competency of the directors. Our only concern is <50% independence on the board. In the absence of appropriate independence on the board, we will vote against the resolution.
    15 for6 against

Mutual fund votes, meeting of 13 Nov 2024, 11 fund houses

  • To appoint Mr. Krishnavatar Khandelwal (DIN:00075715) as a Non-Executive Independent Director of the Company
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. Governance Concern: Prior association as an Ex-Employee in the Company.
    8 for3 against
  • To approve the raising of funds by way of Qualified Institutions Placement to eligible investors through an issuance of securities by the Company
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Significant Potential Dilution; No justification for not opting Rights Issue.
    8 for3 against

Mutual fund votes, meeting of 30 Sep 2024, 10 fund houses

  • To receive, consider and adopt the Audited Financial Statement (including Consolidated Financial Statements) of the Company for the financial year ended on March 31, 2024, the report of the Board of Directors and Statutory Auditors thereon.MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual FundUnqualified Financial Statements. Non-disclosure of financial statements of Subsidiaries: Non-Compliant with Companies Act, 2013 and SEBI LODR Regulations.
    8 for2 against
  • To declare dividend on equity shares for the financial year ended March 31, 2024.
    10 for0 against
  • To reappoint Mr. Vishal Gupta (DIN:00184809) as a Director, who retires by rotation and, being eligible, offers himself for reappointment.
    Against Bandhan Mutual Fund, Groww Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
    8 for2 against
  • To approve/ratify remuneration of the Cost Auditor for the financial year ending on March 31, 2025.
    10 for0 against

Mutual fund votes, meeting of 26 Jun 2024, 7 fund houses

  • Sub-division/split of face value of equity shares of the Company from Rs. 10/- (Rupees Ten only) each to Rs. 1/- (Rupee One) each.
    7 for0 against
  • Alteration of capital clause of Memorandum of Association (MOA) of the Company consequent to the sub-division of the face value of equity shares of the Company.
    7 for0 against
  • Reappointment of Mrs. Mitali Chitre (DIN:09040978) as the Nominee Director (Non - Executive Director) of the Company.
    7 for0 against

Mutual fund votes, meeting of 20 Mar 2024, 6 fund houses

  • To re-appoint Mr. Vishal Gupta (DIN:00184809) as the Managing Director – Finance of the Company.
    6 for0 against
  • To re-appoint Mr. Vikas Gupta (DIN:00182241) as the Managing Director – Operations of the Company.
    6 for0 against
  • To approve remuneration of Mr. Anurag Gupta (DIN:00184361), as the Whole Time Director of the Company.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Holding dual position of Chairman & Executive Director.
    4 for2 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeCentral Excise and Service Tax NoidaSince 22 Dec 2011
    This matter was listed in August 2026, for the final hearing, during which the Hon’ble Supreme Court rejected the application filed by the Excise Department and hence the matter stands dismissed.
    At the filing before: The Excise Department filed an appeal with Hon'ble Supreme Court which was registered on 05-01-2015 in matter of Show Cause Notice dated 22-12-2011 for demand of Rs. 765.73 Lakh in respect of CTV sold by the Company.MoreLess

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
Yes
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.

How money raised was used

Reported for the quarter to Jun 2026.

RaisedAmount raisedForSet asideSpentSpent elsewhere
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56Funding the working capital requirements of our Wholly Owned Subsidiary, PG Technoplast Private Limited644.040.00No
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56Funding the capital expenditure requirements for expansion of Wholly Owned Step-down Subsidiary, Next Generation Manufacturers Private Limited, its manufacturing and warehousing/ storage unit by constructing a new building at Plot no F-3, Supa Parner MIDC Industrial Area, Taluka Parner, Dist- Ahmednagar – 411301 (“Supa Unit”).114.112.61No
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56Funding the capital expenditure requirements for expansion of Wholly Owned Step-down Subsidiary, Next Generation Manufacturers Private Limited, its manufacturing and warehousing/ storage unit by constructing a new building at SP5-4 (EMC Zone), Electronic Zone, Karoli, Bhiwadi (“Karoli Unit”)78.630.00No
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56Funding the capital expenditure requirements of our Wholly Owned Step-down Subsidiary, Next Generation Manufacturers Private Limited, for purchase of new equipment and machinery86.460.00No
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56Repayment and/or pre-payment, in full or part, of certain borrowings (including interest thereon) availed by our Company, PG Electroplast Limited25.310.00No
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56Repayment and/or pre-payment, in full or part, of certain borrowings (including interest thereon) availed by our wholly-owned subsidiary, PG Technoplast Private Limited, through investment in such subsidiary176.5179.89No
QIPDec 2024, checked by CRISIL Ratings Limited1,477.56General corporate purposes352.5047.50No
₹ 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.