Quality Power Electrical Equipments logo

Quality Power Electrical Equipments MD, chairman, board of directors and AGM

NSE: QPOWERBSE: 544367Electrical EquipmentSmall Cap

Last close ₹1,305.40down ₹85.70 (6.16%)BSE ₹1,305.25

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,391.10.

52-week range of traded prices to 23 Oct 2026
₹581.00Low, 27 Jan 2026₹1,681.00High, 6 Oct 2026
Market cap
₹10,110 Cr644th largest listed
P/E
75.8
P/B
18.7
Dividend yield
0.10%
ROE
27.6%
ROCE
21.3%
Debt to equity
0.05
Volume, NSE
8,13,68649.9% delivered

Quality Power Electrical Equipments 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

  • Chairperson and managing directorThalavaidurai PandyanRelated to the promoter
  • Managing directorBharanidharan Pandyan
  • Company Secretary and Compliance OfficerDeepak Suryavanshi

8 directors4 independent4 executive

  • Thalavaidurai Pandyan · Chairperson and managing directorExecutive · joined Sep 2001 · reappointed Mar 2024 · 1 listed board
  • Bharanidharan Pandyan · Managing directorExecutive · joined Jul 2002 · reappointed Mar 2024 · 1 listed board · 1 committee seat
  • Chitra PandyanExecutive · joined Sep 2001 · reappointed Mar 2024 · 1 listed board
  • Mahesh SaralayaExecutive · joined Mar 2024 · 1 listed board · 1 committee seat
  • Pournima Suresh KulkarniIndependent · joined Feb 2024 · 31 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Rajendra Sheshadri IyerIndependent · joined Feb 2024 · reappointed Feb 2026 · 31 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Shailesh Kumar MishraIndependent · joined Mar 2024 · 30 months as independent · 3 listed boards · 3 as independent · 2 committee seats, 1 as chair
  • Sadayandi RameshIndependent · joined Mar 2024 · 30 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.

Committees and meetings

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

  • Board

    • 23 Sep 20268 of 8 present8 independent · 20 days in between
    • 2 Sep 20266 of 8 present3 independent · 23 days in between
    • 9 Aug 20267 of 8 present4 independent · 39 days in between
    • 30 Jun 20267 of 8 present3 independent · 47 days in between
    1 earlier meeting
    • 13 May 20267 of 8 present3 independent

  • Audit Committee

    Chair Pournima Suresh Kulkarni

    Rajendra Sheshadri Iyer, Shailesh Kumar Mishra, Bharanidharan Pandyan

    • 23 Sep 20264 of 4 present3 independent · 20 days in between
    • 9 Aug 20264 of 4 present3 independent · no day in between
    • 30 Jun 20264 of 4 present3 independent · 20 days in between
    • 13 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Rajendra Sheshadri Iyer

    Pournima Suresh Kulkarni, Shailesh Kumar Mishra

    • 2 Sep 20263 of 3 present3 independent · 23 days in between
    • 8 Aug 20263 of 3 present3 independent · 38 days in between

  • Stakeholders Relationship Committee

    Chair Shailesh Kumar Mishra

    Rajendra Sheshadri Iyer, Mahesh Saralaya

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Thalavaidurai Pandyan

    Bharanidharan Pandyan, Pournima Suresh Kulkarni, Shailesh Kumar Mishra

    • 8 Aug 20264 of 4 present2 independent

  • Corporate Social Responsibility Committee

    Chair Sadayandi Ramesh

    Pournima Suresh Kulkarni, Chitra Pandyan, Rajendra Sheshadri Iyer

    • 8 Aug 20262 of 4 present2 independent

  • Business Development & Administration Committee

    Chair Bharanidharan Pandyan

    Pournima Suresh Kulkarni, Rajendra Sheshadri Iyer, Shailesh Kumar Mishra, Mahesh Saralaya

    • 9 Jun 20263 of 5 present2 independent · 26 days in between

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.

  • Kishor Gujar & AssociatesPeer-review certificate valid to Jun 2028
1 earlier auditor
  • M/s Kishor Gujar & AssociatesNamed in filings from Mar 2025 to Mar 2026

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.

Quality Power Electrical Equipments 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.Quality Power Electrical Equipments dividend history

Extraordinary general meeting, 19 Oct 2026

94,033 shareholders on the register on 12 Oct 2026; present: 4 promoters and 31 others; votes counted by Abhay Raghunath Gulavani / Abhay R Gulavani.The company's voting result (opens in a new tab)

  1. Issuance of equity shares to certain selling shareholders of Winwin Speciality Insulators Limited by way of preferential issue (for consideration other than cash / share swap)
    Special
    97.99% for2.01% against

    Against: promoters 0.00% · institutions 23.90% · other public 0.00%

    Turnout: all 81.09% · promoters 100.00% · institutions 82.52% · other public 2.02%

  2. Approval of Raising of Capital Through Qualified Institutions Placement (QIP)
    Special
    100.00% for0.00% against

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

    Turnout: all 81.09% · promoters 100.00% · institutions 82.52% · other public 2.02%

  3. To consider and approve Related Party Transaction(s) between (a) the Company and (b) the Promoters and the members of the Promoter Group of the Company
    OrdinaryPromoters have an interest in it
    90.94% for9.06% against

    Against: promoters 0.00% · institutions 9.54% · other public 0.01%

    Turnout: all 7.18% · promoters 0.00% · institutions 82.52% · other public 2.02%

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 2026, 10 resolutions

92,496 shareholders on the register on 22 Sep 2026; present: 4 promoters and 56 others; votes counted by Abhay Raghunath Gulavani / Abhay R Gulavani.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited Standalone Financial Statements as at 31st March, 2026 along with the Reports of the Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements as at 31st March, 2026 along with the Reports of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.02%

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

  3. To declare a Dividend of ₹ 1/- (Rupee One) per equity share of face value of ₹ 10/- each for the financial year ended 31st March, 2026, to the Non-Promoter category shareholders, as the Promoters of the Company have waived off their right to receive the dividend.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

  4. To appoint a Director in place of Mr. Bharanidharan Pandyan (DIN: 01298247) who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    96.29% for3.71% against

    Against: promoters 0.00% · institutions 23.54% · other public 0.02%

    Turnout: all 44.92% · promoters 50.00% · institutions 82.16% · other public 5.05%

  5. To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2027.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

  6. Re-appointment of Mr Thalavaidurai Pandyan (DIN: 00439782) as Chairman and Managing Director of the Company and approval of his remuneration.
    SpecialPromoters have an interest in it
    95.25% for4.75% against

    Against: promoters 0.00% · institutions 46.34% · other public 0.02%

    Turnout: all 69.14% · promoters 82.77% · institutions 82.16% · other public 5.05%

  7. Re-appointment of Mr Bharanidharan Pandyan (DIN: 01298247) as a Whole Time Director designated as a Joint Managing Director of the Company and approval of his remuneration.
    SpecialPromoters have an interest in it
    88.99% for11.01% against

    Against: promoters 0.00% · institutions 69.87% · other public 0.02%

    Turnout: all 44.92% · promoters 50.00% · institutions 82.16% · other public 5.05%

  8. Re-appointment of Mrs Chitra Pandyan (DIN: 02602659) as a Whole Time Director of the Company and approval of her remuneration.
    SpecialPromoters have an interest in it
    95.99% for4.01% against

    Against: promoters 0.00% · institutions 46.34% · other public 0.02%

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

  9. Re-appointment of Mr Mahesh Saralaya (DIN: 10509703) as a Whole Time Director of the Company and approval of his remuneration.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.02%

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

  10. Re-appointment of Mr. Sadayandi Ramesh (DIN: 00588780) for a second term as an Independent Director of the Company.
    Special
    93.06% for6.94% against

    Against: promoters 0.00% · institutions 80.26% · other public 0.02%

    Turnout: all 81.87% · promoters 100.00% · institutions 82.16% · other public 5.05%

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, 12 Apr 2026, 1 resolution

65,636 shareholders on the register on 6 Mar 2026; votes counted by Abhay Raghunath Gulavani / Abhay R Gulavani.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr Rajendra Sheshadri Iyer (DIN: 09319795) for a second term as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.16%

    Turnout: all 79.84% · promoters 100.00% · institutions 66.86% · other public 3.27%

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, 9 resolutions

63,950 shareholders on the register on 18 Sep 2025; present: 4 promoters and 48 others; votes counted by Abhay Raghunath Gulavani / Abhay R Gulavani.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited Standalone Financial Statements as at 31st March, 2025 along with the Reports of the Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.11%

    Turnout: all 80.84% · promoters 100.00% · institutions 78.11% · other public 5.22%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements as at 31st March, 2025 along with the Reports of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.11%

    Turnout: all 80.77% · promoters 100.00% · institutions 77.27% · other public 5.22%

  3. To declare a Dividend of ? 1/- (Rupee One) per equity share of face value of ? 10/- each for the financial year ended 31st March, 2025, to the Non-Promoter category shareholders, as the Promoters of the Company have waived off their right to receive the dividend.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.19%

    Turnout: all 80.84% · promoters 100.00% · institutions 78.11% · other public 5.22%

  4. To appoint a Director in place of Mrs. Chitra Pandyan (DIN: 02602659) who retires by rotation and being eligible offers herself for re-appointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 80.84% · promoters 100.00% · institutions 78.11% · other public 5.22%

  5. To consider and approve the continuation of the Directorship of Mrs. Chitra Pandyan (DIN: 02602659), as Whole-time Director who will attain the age of Seventy (70) years in this financial year.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 80.84% · promoters 100.00% · institutions 78.11% · other public 5.22%

  6. Approval for payment of remuneration to Non-Executive Directors of the Company.
    Special
    95.16% for4.84% against

    Against: promoters 0.00% · institutions 66.20% · other public 0.15%

    Turnout: all 80.77% · promoters 100.00% · institutions 77.27% · other public 5.22%

  7. Approval for giving Loans/Guarantees or providing securities.
    Special
    94.87% for5.13% against

    Against: promoters 0.00% · institutions 70.21% · other public 0.13%

    Turnout: all 80.77% · promoters 100.00% · institutions 77.27% · other public 5.22%

  8. To appoint Secretarial Auditors for a Term of Five Years.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 80.77% · promoters 100.00% · institutions 77.27% · other public 5.22%

  9. To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.84% · promoters 100.00% · institutions 78.11% · other public 5.22%

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, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the audited Standalone Financial Statements as at 31st March, 2026 along with the Reports of the Directors and Auditors thereon.
    3 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements as at 31st March, 2026 along with the Reports of the Auditors thereon.
    Against Angel One Mutual Fund
    • Angel One Mutual FundNon-disclosure of financial statements of subsidiary company.
    2 for1 against
  • To declare a Dividend of ₹ 1/- (Rupee One) per equity share of face value of ₹ 10/- each for the financial year ended 31st March, 2026, to the Non-Promoter category shareholders, as the Promoters of the Company have waived off their right to receive the dividend.MoreLess
    3 for0 against
  • To appoint a Director in place of Mr. Bharanidharan Pandyan (DIN: 01298247) who retires by rotation and being eligible offers himself for re-appointment.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice in favour of the promoter Executive Directors, proposed appointee is a beneficiary of skewed remuneration.
    2 for1 against
  • To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2027.
    3 for0 against
  • Re-appointment of Mr Thalavaidurai Pandyan (DIN: 00439782) as Chairman and Managing Director of the Company and approval of his remuneration.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern: No absolute cap on variable pay; Holds combined position of Chairman and Managing Director of the Company and skewed remuneration in favour of the promoter Executive Directors. Proposed appointee is a beneficiary of skewed remuneration.
    2 for1 against
  • Re-appointment of Mr Bharanidharan Pandyan (DIN: 01298247) as a Whole Time Director designated as a Joint Managing Director of the Company and approval of his remuneration.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice in favour of the promoter Executive Directors; No absolute cap on variable pay. Proposed appointee is a beneficiary of skewed remuneration.
    2 for1 against
  • Re-appointment of Mrs Chitra Pandyan (DIN: 02602659) as a Whole Time Director of the Company and approval of her remuneration.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern: No absolute cap on variable pay. Transparency Concern: No clarity on continuation as director (who attained 70 years) after the end of the current term.
    2 for1 against
  • Re-appointment of Mr Mahesh Saralaya (DIN: 10509703) as a Whole Time Director of the Company and approval of his remuneration.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern: Significantly low pay as compared to Industry benchmarks, peers, and as an Executive Director on the Board of the Company.
    2 for1 against
  • Re-appointment of Mr. Sadayandi Ramesh (DIN: 00588780) for a second term as an Independent Director of the Company.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance & transparency concern: 3 full time positions; Did not attend any of the AGM held in the last 3 years; Low attendance at aggregate basis in Board meeting during past two years and no compelling reason provided for leave of absence.
    2 for1 against

Mutual fund votes, meeting of 12 Apr 2026, 3 fund houses

  • Re-appointment of Mr Rajendra Sheshadri Iyer (DIN: 09319795) for a second term as an Independent Director of the Company
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundPrior shareholders’ approval not obtained for re-appointment as an ID; Role as NRC Chairperson in Board remuneration Skewness / disparity and Non-Compliant with Section 152
    2 for1 against
1 earlier meeting

Mutual fund votes, meeting of 25 Sep 2025, 3 fund houses

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

  • To receive, consider and adopt the audited Standalone Financial Statements as at 31st March, 2025 along with the Reports of the Directors and Auditors thereon.
    3 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements as at 31st March, 2025 along with the Reports of the Auditors thereon.
    Against LIC Mutual Fund
    • LIC Mutual FundConcerns over Non-disclosure of financial statements of subsidiary company.
    2 for1 against
  • To declare a Dividend of ? 1/- (Rupee One) per equity share of face value of ? 10/- each for the financial year ended 31st March, 2025, to the Non-Promoter category shareholders, as the Promoters of the Company have waived off their right to receive the dividend.MoreLess
    3 for0 against
  • To appoint a Director in place of Mrs. Chitra Pandyan (DIN: 02602659) who retires by rotation and being eligible offers herself for re-appointment.
    3 for0 against
  • To consider and approve the continuation of the Directorship of Mrs. Chitra Pandyan (DIN: 02602659), as Whole-time Director who will attain the age of Seventy (70) years in this financial year.
    3 for0 against
  • To appoint Secretarial Auditors for a Term of Five Years.
    Against LIC Mutual Fund
    • LIC Mutual FundConcerns over Proposed audit fee payable to Secretarial Auditors not disclosed. Governance Concern: Failure to highlight non-compliance w.r.t. Board Compliance u/s 152(6) in the Secretarial Audit Report & Compliance Report
    2 for1 against
  • To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2026.
    3 for0 against
2 proposals not matched to one resolution
  • To give any loans/any other form of debt to any person or any other body corporate and / or to give guarantee and / or to provide security in connection with a loan/any other form of debt to any other body corporate or person and to make investment or acquire by way of subscription, purchase or otherwise at par or at premium or otherwise, the securities of any other body corporate whether Indian or overseas (apart from the loan(s) / guarantee(s) / security(ies) / investments already given / made / held by the Company) shall not at any time exceed Rs. 1,000 Crore notwithstanding the same exceeds beyond the limit prescribed under section 186 of the Companies Act, 2013.MoreLess
    Against Bank of India Mutual Fund, LIC Mutual Fund
    • Bank of India Mutual FundThrough the 2024 EGM, the company approved upto Rs. 3.0 bn as Section 186 limits. The company now proposes to increase the limit to Rs. 10.0 bn. The company has not given any loans or guarantees to the parties during the year. The company must disclose the approved limit, automatic limit and limits utilized under Section 186 clearly. Further, this is an enabling approval, and it allows the company to give loans/ guarantees/ provide securities to any body corporate, including promoter companies. We believe the company must disclose granular details including names of the companies, the nature and size of their operations and terms of support, to enable shareholders to make an informed decision. Given the lack of clarity, we do not support the resolution.
    • LIC Mutual FundGovernance & Transparency Concern: Inadequate disclosures w.r.t. the particulars of the giving loans/ guarantees/ securities to be undertaken by the Company i.e. Blanket approval without adequate disclosures.
    1 for2 against
  • To increase the limit of 1%, as stipulated in clause (ii) (A) of the first proviso to subsection (1) of Section 197 of the Companies Act 2013, as the remuneration payable in aggregate to the Non- Executive Director(s) of the Company in any financial year upto 5% of the net profits of the Company, computed in the manner laid down in Section 198 of the Companies Act, 2013, with liberty to the Board of Directors of the Company to appropriate the amount payable amongst the Non-Executive Directors equally or otherwise, as may be decided from time to time.MoreLess
    Against Bank of India Mutual Fund, LIC Mutual Fund
    • Bank of India Mutual FundThe aggregate commission to Non-Executive Directors for FY25 was Rs. 6.8 mn, which stood at 1.7% of standalone PBT. The company seeks approval to pay remuneration to Non-Executive Directors upto 5% of the net profits, which is high. The company has not defined a term for the validity of the resolution and thus, it is effectively valid in perpetuity. The company should have also capped such remuneration in absolute terms. We do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments. Further, the proposed commission of Rs. 4.4 mn to Rajendra Iyer is significantly higher than the aggregate remuneration of all other Independent Directors. The company has not outlined a clear rationale for the higher remuneration to Rajendra Iyer. Given the differential Independent Director remuneration without a clear rationale and the lack of clarity surrounding the validity of the resolution, we do not support the resolution.
    • LIC Mutual FundGovernance Concern: Disproportionate Remuneration; Excessive commission to single Non-Executive Director; No clear defined timeframe; No absolute cap on remuneration.
    1 for2 against

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

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
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.