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Schneider Electric Infrastructure MD, chairman, board of directors and AGM

NSE: SCHNEIDERBSE: 534139Electrical EquipmentSmall Cap

Last close ₹1,114.10down ₹36.60 (3.18%)BSE ₹1,112.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,150.70.

52-week range of traded prices to 23 Oct 2026
₹571.85Low, 21 Jan 2026₹1,548.00High, 8 Jul 2026
Market cap
₹26,639 Cr315th largest listed
P/E
145.0
P/B
34.4
Dividend yield
Nonein the last 12 months
ROE
27.5%
ROCE
24.7%
Debt to equity
0.57
Volume, NSE
2,12,19835.5% delivered

Schneider Electric Infrastructure board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.

  • ChairpersonPravin Kumar Purang
  • Company Secretary and Compliance OfficerSumit Goel

7 directors3 independent2 executive2 non-executive

  • Pravin Kumar Purang · ChairpersonIndependent · joined May 2022 · reappointed May 2025 · 52 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • SUNDARAM DAMODARANNAIRIndependent · joined Oct 2025 · reappointed Oct 2025 · 11 months as independent · 5 listed boards · 4 as independent · 9 committee seats, 3 as chair
  • SHALINI SARINIndependent · joined Oct 2025 · reappointed Oct 2025 · 11 months as independent · 6 listed boards · 6 as independent · 6 committee seats, 1 as chair
  • Udai SinghExecutive · joined Sep 2023 · reappointed Sep 2026 · 1 listed board · 1 committee seat
  • Deepak SharmaNon-executive · joined Jun 2023 · reappointed Jun 2023 · 1 listed board · 2 committee seats
  • Soumya BagchiExecutive · joined Jun 2026 · 1 listed board
  • Nirupa ChanderNon-executive · joined Aug 2026 · reappointed Aug 2026 · 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.

4 directors who left
  • Chinmoy Das, left 30 Jun 2026: Others
  • Namrata Kaul, left 5 Nov 2025: Tenure Completion
  • Anil Chaudhry, left 30 Oct 2025: Others
  • Amol Dattatraya Phatak, left 14 Nov 2024: Others

Committees and meetings

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

  • Board

    • 24 Aug 20267 of 7 present3 independent · 9 days in between
    • 14 Aug 20267 of 7 present3 independent · 41 days in between
    • 3 Jul 20266 of 6 present3 independent · 35 days in between
    • 28 May 20265 of 6 present3 independent

  • Audit Committee

    Chair SUNDARAM DAMODARANNAIR

    Pravin Kumar Purang, SHALINI SARIN, Deepak Sharma

    • 14 Aug 20264 of 4 present3 independent · 41 days in between
    • 3 Jul 20264 of 4 present3 independent · 35 days in between
    • 28 May 20263 of 4 present3 independent · 7 days in between
    • 20 May 20263 of 4 present3 independent

  • Nomination and remuneration committee

    Chair SHALINI SARIN

    SUNDARAM DAMODARANNAIR, Pravin Kumar Purang, Deepak Sharma

    • 14 Aug 20264 of 4 present3 independent · 77 days in between
    • 28 May 20263 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Pravin Kumar Purang

    Udai Singh, Deepak Sharma, SUNDARAM DAMODARANNAIR, SHALINI SARIN

    No meeting listed in the filing.

  • Risk Management Committee

    Chair SUNDARAM DAMODARANNAIR

    Deepak Sharma, Udai Singh, Pravin Kumar Purang, SHALINI SARIN

    • 28 May 20264 of 5 present3 independent

  • Corporate Social Responsibility Committee

    Chair Pravin Kumar Purang

    Deepak Sharma, Udai Singh, SHALINI SARIN, SUNDARAM DAMODARANNAIR

    • 28 May 20264 of 5 present3 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 Jun 2026.

  • SN Dhawan & CO LLPPeer-review certificate valid to Feb 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.

Schneider Electric Infrastructure 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.Schneider Electric Infrastructure dividend history

Annual general meeting, 10 Sep 2026

1,27,962 shareholders on the register on 3 Sep 2026; present: 1 promoter and 40 others; votes counted by Anirudh Grover / Sanjay Grover & Associates.The company's voting result (opens in a new tab)

  1. Audited Financial Statements of the Company for the financial year ended March 31, 2026, along with Reports of the Board of Directors and Statutory Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.34% · promoters 100.00% · institutions 90.36% · other public 0.32%

  2. To appoint a director in place of Mr. Udai Singh (DIN: 10311583) who retires by rotation and being eligible offers himself for re-appointment.
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 2.09% · other public 0.23%

    Turnout: all 82.34% · promoters 100.00% · institutions 90.36% · other public 0.32%

  3. Re-appointment of Mr. Udai Singh (DIN: 10311583) as Managing Director and Chief Executive Officer of the Company
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.38% · other public 0.22%

    Turnout: all 82.34% · promoters 100.00% · institutions 90.36% · other public 0.32%

  4. Ratification of Remuneration payable to M/s. Shome & Banerjee, Cost Accountants as Cost Auditors of the Company for the Financial Year 2026-27
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.83%

    Turnout: all 82.34% · promoters 100.00% · institutions 90.36% · other public 0.32%

  5. Appointment of Mr. Soumya Bagchi (DIN:11789286) as Whole-Time Director of the Company
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.67% · other public 1.04%

    Turnout: all 82.34% · promoters 100.00% · institutions 90.36% · other public 0.32%

  6. Appointment of Ms. Nirupa Chander (DIN:11874458) as Non – Executive Non – Independent Director of the Company
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.91% · other public 0.06%

    Turnout: all 82.34% · promoters 100.00% · institutions 90.36% · other public 0.32%

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, 3 Jul 2026, 1 resolution

1,16,055 shareholders on the register on 29 May 2026; votes counted by Anirudh Grover / Sanjay Grover & Associates.The company's voting result (opens in a new tab)

  1. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric IT Business India Private Limited
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.21%

    Turnout: all 6.67% · promoters 0.00% · institutions 80.21% · other public 2.61%

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.

Postal ballot, 25 Mar 2026, 4 resolutions

1,10,142 shareholders on the register on 20 Feb 2026; votes counted by Sujeet Kumar / Sanjay Grover & Associates, Company Secretaries.The company's voting result (opens in a new tab)

  1. To consider and approve Company’s participation in Worldwide Employee Share Ownership Plan 2026 (2026 WESOP) and grant of loan/financial assistance and free matching shares to employees of the Company.MoreLess
    Special
    99.09% for0.91% against

    Against: promoters 0.00% · institutions 12.75% · other public 6.19%

    Turnout: all 80.85% · promoters 100.00% · institutions 84.53% · other public 0.61%

  2. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric IT Business India Private Limited.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.71%

    Turnout: all 5.85% · promoters 0.00% · institutions 84.53% · other public 0.61%

  3. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric India Private Limited
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.71%

    Turnout: all 5.85% · promoters 0.00% · institutions 84.53% · other public 0.61%

  4. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric Industries SAS
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.71%

    Turnout: all 5.85% · promoters 0.00% · institutions 84.53% · other public 0.61%

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.

Postal ballot, 11 Dec 2025, 3 resolutions

1,10,992 shareholders on the register on 7 Nov 2025; votes counted by Kapil Dev Taneja / Sanjay Grover & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Dr. Shalini Sarin (DIN: 06604529) as a Non-Executive Independent Director of the Company.
    Special
    98.37% for1.63% against

    Against: promoters 0.00% · institutions 23.91% · other public 13.34%

    Turnout: all 80.67% · promoters 100.00% · institutions 83.15% · other public 1.90%

  2. Appointment of Mr. Sundaram Damodarannair (DIN: 00016304) as a Non-Executive Independent Director of the Company.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.41%

    Turnout: all 80.67% · promoters 100.00% · institutions 83.15% · other public 1.90%

  3. Payment of remuneration by way of commission to Non-Executive Independent Directors of the Company.
    Ordinary
    99.65% for0.35% against

    Against: promoters 0.00% · institutions 4.18% · other public 16.12%

    Turnout: all 80.67% · promoters 100.00% · institutions 83.15% · other public 1.90%

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, 4 Sep 2025, 5 resolutions

1,11,031 shareholders on the register on 29 Aug 2025; present: 2 promoters and 58 others; votes counted by KAPIL DEV TANEJA / SANJAY GROVER & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements of the Company for the financial year ended March 31, 2025, and the Reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.24%

    Turnout: all 80.48% · promoters 100.00% · institutions 82.00% · other public 1.33%

  2. Appointment of Mr. Deepak Sharma (DIN: 10059493) who retires by rotation as a Non-Executive Director.
    Ordinary
    99.71% for0.29% against

    Against: promoters 0.00% · institutions 4.44% · other public 0.28%

    Turnout: all 80.48% · promoters 100.00% · institutions 82.00% · other public 1.33%

  3. Re - appointment of M/s S.N. Dhawan & Co LLP (FRN: 000050N/N500045), Chartered Accountant as the Statutory Auditors of the Company for second consecutive term.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 80.48% · promoters 100.00% · institutions 82.00% · other public 1.33%

  4. Ratification of Remuneration to be paid to M/s. Shome & Banerjee, Cost Accountants as Cost Auditors of the Company for the Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 80.48% · promoters 100.00% · institutions 82.00% · other public 1.33%

  5. Appointment of M/s. Sanjay Grover & Associates, Firm of Company Secretaries in Practice as Secretarial Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 80.48% · promoters 100.00% · institutions 81.99% · other public 1.33%

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, 16 May 2025, 2 resolutions

1,15,442 shareholders on the register on 4 Apr 2025; votes counted by Kapil Dev Taneja / Sanjay Grover & Associates, Company Secretaries.The company's voting result (opens in a new tab)

  1. To approve re-appointment of Mr. Pravin Purang (DIN: 02533080) as an Independent Director for second and final term of three (3) years
    Special
    99.63% for0.37% against

    Against: promoters 0.00% · institutions 6.25% · other public 4.46%

    Turnout: all 79.69% · promoters 100.00% · institutions 74.21% · other public 0.52%

  2. To approve payment of remuneration by way of commission to Mr. Anil Chaudhry (DIN:03213517), Non-Executive Director of the Company
    Special
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 11.51% · other public 11.37%

    Turnout: all 79.69% · promoters 100.00% · institutions 74.21% · other public 0.52%

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 Mar 2025, 4 resolutions

1,13,573 shareholders on the register on 21 Feb 2025; votes counted by Kapil Dev Taneja / Sanjay Grover & Associates, Company Secretaries.The company's voting result (opens in a new tab)

  1. To consider and approve providing loan/financing assistance to the Company’s employees to subscribe to Schneider Electric SE’s shares and granting employer matching shares to the Company’s employees under Schneider Electric SE’s Worldwide Employee Share Ownership Plan 2025MoreLess
    Special
    97.88% for2.12% against

    Against: promoters 0.00% · institutions 36.60% · other public 26.39%

    Turnout: all 79.65% · promoters 100.00% · institutions 72.84% · other public 0.56%

  2. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric IT Business India Private Limited
    OrdinaryPromoters have an interest in it
    94.57% for5.43% against

    Against: promoters 0.00% · institutions 5.01% · other public 23.39%

    Turnout: all 4.65% · promoters 0.00% · institutions 72.84% · other public 0.56%

  3. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric India Private Limited
    OrdinaryPromoters have an interest in it
    99.47% for0.53% against

    Against: promoters 0.00% · institutions 0.00% · other public 23.46%

    Turnout: all 4.65% · promoters 0.00% · institutions 72.84% · other public 0.56%

  4. To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric Industries SAS
    OrdinaryPromoters have an interest in it
    99.47% for0.53% against

    Against: promoters 0.00% · institutions 0.00% · other public 23.49%

    Turnout: all 4.65% · promoters 0.00% · institutions 72.84% · other public 0.56%

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

Postal ballot, 21 Dec 2024, 1 resolution

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

  1. To consider and approve the appointment of Mr. Chinmoy Das (DIN: 10830577) as Director and Whole-Time Director of the Company with effect from November 14, 2024
    Ordinary
    99.56% for0.44% against

    Against: promoters 0.00% · institutions 8.00% · other public 0.82%

    Turnout: all 79.61% · promoters 100.00% · institutions 74.04% · other public 1.12%

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 10 Sep 2026, 9 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Audited Financial Statements of the Company for the financial year ended March 31, 2026, along with Reports of the Board of Directors and Statutory Auditors thereon.
    9 for0 against
  • To appoint a director in place of Mr. Udai Singh (DIN: 10311583) who retires by rotation and being eligible offers himself for re-appointment.
    9 for0 against
  • Re-appointment of Mr. Udai Singh (DIN: 10311583) as Managing Director and Chief Executive Officer of the Company
    9 for0 against
  • Ratification of Remuneration payable to M/s. Shome & Banerjee, Cost Accountants as Cost Auditors of the Company for the Financial Year 2026-27
    9 for0 against
  • Appointment of Mr. Soumya Bagchi (DIN:11789286) as Whole-Time Director of the Company
    9 for0 against
  • Appointment of Ms. Nirupa Chander (DIN:11874458) as Non – Executive Non – Independent Director of the Company
    9 for0 against

Mutual fund votes, meeting of 3 Jul 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric IT Business India Private Limited
    10 for0 against
6 earlier meetings

Mutual fund votes, meeting of 25 Mar 2026, 19 fund houses

  • To consider and approve Company’s participation in Worldwide Employee Share Ownership Plan 2026 (2026 WESOP) and grant of loan/financial assistance and free matching shares to employees of the Company.MoreLess
    19 for0 against
  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric IT Business India Private Limited.
    19 for0 against
  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric India Private Limited
    19 for0 against
  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric Industries SAS
    19 for0 against

Mutual fund votes, meeting of 11 Dec 2025, 20 fund houses

  • Appointment of Dr. Shalini Sarin (DIN: 06604529) as a Non-Executive Independent Director of the Company.
    Against Axis Mutual Fund, Bank of India Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual FundDr. Shalini Sarin, 60, is the former global Chief Human Resources Officer (CHRO)– Philips Professional Lighting. She has also served as CHRO - Schneider Electric South Asia between April 2029 and September 2014. We understand from public sources that she is currently also an advisor and CXO coach. She is serving as Independent Director of Schneider Electric India Private Limited since 14 September 2024: a Schneider Group entity. We note that since July 2018, she has been on the board of Linde India Limited and a member of its audit committee. The auditors of Linde India Limited have qualified the financial statements for FY25 citing uncertainties with respect to the outcome of the ongoing legal and regulatory proceedings against the company’s interpretation of related party transactions following a SEBI order. The auditors had also qualified the financial statements for FY24, citing concerns regarding related party transactions; which was followed by SEBI’s order dated 24 July 2024. In its order, SEBI has asserted that the company’s interpretation of the need to seek related party transaction approval was incorrect; the transactions were undertaken based on legal opinions despite not receiving shareholder approval. Further, SEBI also noted that the business allocation arrangement between Linde India Limited and a group company - Praxair India Private Limited was an arbitrary reallocation of business, presenting a potential risk to the future growth prospects of Linde India Ltd. Given the corporate governance failure that laces her past board membership, we do not support her appointment as an Independent Director.
    • Bank of India Mutual Fund, Jio BlackRock Mutual FundDr. Shalini Sarin, 60, is the former global Chief Human Resources Officer (CHRO)– Philips Professional Lighting. She has also served as CHRO - Schneider Electric South Asia between April 2029 and September 2014. We understand from public sources that she is currently also an advisor and CXO coach. She is serving as Independent Director of Schneider Electric India Private Limited since 14 September 2024: a Schneider Group entity.We note that since July 2018, she has been on the board of Linde India Limited and a member of its audit committee. The auditors of Linde India Limited have qualified the financial statements for FY25 citing uncertainties with respect to the outcome of the ongoing legal and regulatory proceedings against the company’s interpretation of related party transactions following a SEBI order. The auditors had also qualified the financial statements for FY24, citing concerns regarding related party transactions; which was followed by SEBI’s order dated 24 July 2024. In its order, SEBI has asserted that the company’s interpretation of the need to seek related party transaction approval was incorrect; the transactions were undertaken based on legal opinions despite not receiving shareholder approval. Further, SEBI also noted that the business allocation arrangement between Linde India Limited and a group company - Praxair India Private Limited was an arbitrary reallocation of business, presenting a potential risk to the future growth prospects of Linde India Ltd. Given the corporate governance failure that laces her past board membership, we do not support her appointment as an Independent Director.
    • HDFC Mutual FundDr. Shalini Sarin, 60, is the former global Chief Human Resources Officer (CHRO)– Philips Professional Lighting. We note that since July 2018, she has been on the board of Linde India Limited and a member of its audit committee. The auditors of Linde India Limited have qualified the financial statements for FY25 citing uncertainties with respect to the outcome of the ongoing legal and regulatory proceedings against the company’s interpretation of related party transactions following a SEBI order. Given the corporate governance failure that laces her past board membership, we do not support the resolution.
    • Kotak Mahindra Mutual FundDr. Shalini Sarin, 60, is the former global Chief Human Resources Officer (CHRO) Philips Professional Lighting. She has also served as CHRO - Schneider Electric South Asia until September 2014. We understand from public sources that she is currently also an advisor and CXO coach. She is serving as Independent Director of Schneider Electric India Private Limited since 14 September 2024: a Schneider Group entity. Since July 2018, she has been on the board of Linde India Limited and a member of its audit committee. The auditors of Linde India Limited have qualified the financial statements for FY25 citing uncertainties with respect to the outcome of the ongoing legal and regulatory proceedings against the company s interpretation of related party transactions following a SEBI order. The auditors had also qualified the financial statements for FY24, citing concerns regarding related party transactions; which was followed by SEBI s order dated 24 July 2024. In its order, regulator has found that the company s interpretation of the need to seek related party transaction approval was incorrect; the transactions were taken place based on legal opinions despite not receiving shareholder approval. Further, regulator also noted that the business allocation arrangement between Linde India Limited and a group company - Praxair India Private Limited was an arbitrary reallocation of business, presenting a potential risk to the future growth prospects of Linde India Ltd. As there were governance failure being her on board, it raise concern about the independence of the appointee. Hence, we do not favour the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    14 for6 against
  • Appointment of Mr. Sundaram Damodarannair (DIN: 00016304) as a Non-Executive Independent Director of the Company.
    20 for0 against
  • Payment of remuneration by way of commission to Non-Executive Independent Directors of the Company.
    Against Axis Mutual Fund, Bank of India Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual Fund, Bank of India Mutual Fund, Jio BlackRock Mutual FundIn the 2023 AGM, the shareholders had approved the payment of remuneration of Rs. 500,000 by way of commission to Non-Executive Independent Directors of the Company. Now the company proposes to revise the commission and pay each non-executive independent director a maximum of Rs. 1.0 mn as commission which shall be within the regulatory limit of 1% of net profits. The commission shall be paid in addition to sitting fees and reimbursement of expenses for attending board and committee meetings. The company has paid aggregate commission of 1.5 mn to Independent Directors during FY25. The proposed commission to non-executive directors is reasonable and in line with market practices. However, the company has not defined a tenure for payment of commission, and the resolution is effectively valid for perpetuity. We believe shareholders must get a chance to periodically approve such payments and therefore do not support the resolution.
    • Kotak Mahindra Mutual FundThe company proposes to revise the commission and pay each non-executive independent director a maximum of Rs. 1.0 mn as commission. The company has neither defined any tenure for payment of commission, nor disclosed the term of proposed approval. As a good governance practice, Independent directors should be paid in commission based payment i.e. per meeting fees. So, considering the proposal for perpetuity, we do not favour the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    15 for5 against

Mutual fund votes, meeting of 4 Sep 2025, 20 fund houses

  • Adoption of the Audited Financial Statements of the Company for the financial year ended March 31, 2025, and the Reports of the Board of Directors and Auditors thereon.
    20 for0 against
  • Appointment of Mr. Deepak Sharma (DIN: 10059493) who retires by rotation as a Non-Executive Director.
    20 for0 against
  • Re - appointment of M/s S.N. Dhawan & Co LLP (FRN: 000050N/N500045), Chartered Accountant as the Statutory Auditors of the Company for second consecutive term.
    20 for0 against
  • Ratification of Remuneration to be paid to M/s. Shome & Banerjee, Cost Accountants as Cost Auditors of the Company for the Financial Year 2025-26.
    20 for0 against
  • Appointment of M/s. Sanjay Grover & Associates, Firm of Company Secretaries in Practice as Secretarial Auditors of the Company.
    20 for0 against

Mutual fund votes, meeting of 16 May 2025, 17 fund houses

  • To approve re-appointment of Mr. Pravin Purang (DIN: 02533080) as an Independent Director for second and final term of three (3) years
    17 for0 against
  • To approve payment of remuneration by way of commission to Mr. Anil Chaudhry (DIN:03213517), Non-Executive Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundTransparency & Governance Concern: No justification for payment of commission to selected directors only.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. Transparency & Governance Concern: No justification for payment of commission to selected directors only.
    • LIC Mutual FundConcern over justification for payment of commission to selected directors only.
    10 for7 against

Mutual fund votes, meeting of 30 Mar 2025, 15 fund houses

  • To consider and approve providing loan/financing assistance to the Company’s employees to subscribe to Schneider Electric SE’s shares and granting employer matching shares to the Company’s employees under Schneider Electric SE’s Worldwide Employee Share Ownership Plan 2025MoreLess
    15 for0 against
  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric IT Business India Private Limited
    Against Axis Mutual Fund, Bank of India Mutual Fund, Mirae Asset Mutual Fund, UTI Mutual Fund
    • Axis Mutual Fund, Bank of India Mutual Fund, UTI Mutual FundSchneider Electric IT Business India Private Limited (SEITIB) is a fellow subsidiary of Schneider Electric Infrastructure Limited. The proposed transactions with SEITIB include borrowings, sale and purchase of goods and services and other reimbursements, cost recharge arrangements, etc. The transactions with SEITIB aggregated Rs. 809.4 mn and Rs. 248.7 mn for FY24 and H1FY25 respectively. Majority of the company’s borrowings comprise loans from SEITIB. There is no clarity on the profile of SEITIB and the rationale for availing financial assistance from SEITIB. As of 31 March 2024, the loans availed from SEITIB carried an interest rate of 6.86% and are repayable on demand as at the balance sheet date which can be further extended, if needed, till 26 June 2028 and inter corporate deposits from Schneider Electric IT Business India Private Limited carried floating interest rate in the range of 7.08 % to 7.23% for FY24. However, there is no clarity on the terms at which financial assistance will be availed going forward. Given the lack of clarity, we are unable to support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    11 for4 against
  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric India Private Limited
    15 for0 against
  • To consider and approve Material Related Party Transaction(s) between the Company and Schneider Electric Industries SAS
    15 for0 against

Mutual fund votes, meeting of 21 Dec 2024, 15 fund houses

  • To consider and approve the appointment of Mr. Chinmoy Das (DIN: 10830577) as Director and Whole-Time Director of the Company with effect from November 14, 2024
    Against Axis Mutual Fund, Bank of India Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund
    • Axis Mutual Fund, Bank of India Mutual Fund, Navi Mutual FundChinmoy Das, 46, has more than 23 years of experience in operations, supply chain, sales, marketing, and project management. In the past, he was associated with nVent India as plant head and has also worked with GE T&D India (Areva) and ABB Limited. We estimate Chinmoy Das’ annual remuneration at Rs. 10.6 mn, excluding grant of stock options. Further, the Nomination and Remuneration Committee (NRC) can choose to pay him remuneration by way of incentive/bonus/performance linked incentive in addition to the terms given in the notice. He is also entitled to stock options of Schneider Electric SE, France, ultimate holding company under its “Worldwide Employee Stock Option” scheme. However, the company has not disclosed the quantum of stock options that may be granted to him over the course of his tenure and performance parameters that govern his variable pay. Therefore, we are unable to ascertain his aggregate remuneration from the Schneider Electric Group. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    11 for4 against

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

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyAdditional commissioner Gautam buddh Nagar UPSince 22 Aug 2026

    An Order-in-Appeal has been passed under Section 73(9) of the Central Goods and Services Tax Act, 2017 in respect of the alleged excess availment of Input Tax Credit (ITC) for FY 2020-21 on account of differences betwee GSTR-3B and GSTR-2A. The Appellate Authority has partly allowed the appeal and substantially reduced the demand raised in the Order-in-Original. Against the original demand of tax amounting to ₹45,48,181 (IGST: ₹34,37,501, CGST: ₹5,55,340 and SGST: ₹5,55,340), interest of ₹35,70,758 and penalty of ₹7,98,568, the Appellate Authority has sustained only tax of ₹12,578 (CGST: ₹6,289 and SGST: ₹6,289), interest of ₹12,578 (CGST: ₹6,289 and SGST: ₹6,289) and penalty of ₹20,000 (CGST: ₹10,000 and SGST: ₹10,000). The appeal was disposed of vide Appeal No. AD0905250352734 and Order No. ZD090826198715J dated 14.08.2026 and the company has paid the demand.

    difference in 2A vs 3B and various other issues
  • Fine or penaltyOffice of Assistant Commissioner, CGST & Central Excise, Salt Lake-24Since 29 Sep 2026

    An Order-in-Original has been passed under Section 74A(1) read with Section 74A(5)(i) of the CGST/RGST Act, 2017 in relation to the alleged availment of ineligible Input Tax Credit (ITC). The adjudicating authority has disallowed ineligible ITC amounting to ₹13,42,736 (IGST: ₹12,98,754, CGST: ₹21,991 and SGST: ₹21,991) and has further imposed a penalty of ₹1,49,875 (IGST: ₹1,29,875, CGST: ₹10,000 and SGST: ₹10,000).

    ineligible ITC availed
  • Tax disputeJoint Commissioner, Sales Tax, Commercial Taxes, Govt of West BengalSince 20 Jul 2017
    Status Quo
    At the filing before: Non-Submission of Statutory forms and alleged short payment of duty amounting to MINR 126.73 relating to period 2014-15. The Company has filed an appeal before Sales Tax Tribunal. The matter is sub-judice.MoreLess
  • Tax disputeCommissioner AppealsSince 31 Oct 2015
    Status Quo
    At the filing before: Input tax claim disallowed, non-submission of declaration forms amounting to MINR 111.01 (including interest & penalties) relating to period 2011-12. The Company has filed an appeal before sales Tax Tribunal. The matter is sub-judice.MoreLess
  • Tax disputeIncome Tax AuthoritiesSince 10 Jan 2020
    Status Quo
    At the filing before: Pursuant to the settlement of the matters under VSV, only the issue relating to disallowance of data management charges (estimated tax demand amounting to approx. MINR 100) for the period 2012-13 is pending before the CIT(A) against the re-assessment order.MoreLess
  • Tax disputeIncome Tax AuthoritiesSince 18 Aug 2023
    Status Quo
    At the filing before: Assessment Order passed under Section 143(3) read with Section 144C(13) and Section 144B of the Income-Tax Act,1961(‘the Act’) for the income tax return filed for the Assessment Year 2021-22 demanding tax amount of INR 21,46,21,719/- after income adjustments (“Assessment Order”). The Assessment Order further mentions about initiation of penalty proceedings separately under Section 270A and Section 271AA of the Act. The Company has received an order giving effect to the order of the Commissioner of Income tax (Appeal) under Section 250 read with Section 143(1) of the Act reducing the tax demand to INR 13,82,91,940/-. The Company has filed appeal before the Income Tax Appellate Tribunal (ITAT) against final assessment order. The ITAT, by its order dated February 09, 2026, granted a conditional stay on the recovery of the dispute demand, subject to payment of 20% of the disputed tax demand. Pursuant to which the company has deposited the same. The matter is pending for adjudication. The stay order was received by the Company on February 10, 2026 at 06:27p.m. (IST) intimation of which was filed by the Company with the stock exchanges on February 11, 2026.MoreLess
  • Tax disputeIncome Tax AuthoritiesSince 26 Mar 2025
    Status Quo
    At the filing before: The order passed under Section 147 read with section 144B of the Income tax Act for the Assessment Year 2017-18 demanding tax amount of INR 18,52,64,754/- after income adjustments (“Assessment Order”). The Assessment Order further mentions about initiation of penalty proceedings separately under Section 270A of the Act. Furthermore, the High Court of Gujarat at Ahmedabad, in its order dated August 30, 2024, has allowed the proceedings to continue. However, it has directed that no final assessment order shall be passed without the court’s permission during the pendency of the petition. The order came to the knowledge of the Compliance Officer on March 27, 2025, at 4:34 p.m. (IST). Pursuant to the Company’s filing of the application, the Hon’ble High Court of Gujarat at Ahmedabad has, on August 5, 2025, granted a stay order against the order passed contrary to the court’s directions by the Assessment Unit, Income Tax Department, Government of India under Section 147 read with section 144B of the Income tax Act for the Assessment Year 2017-18, demanding tax amount of INR 18,52,64,754/- after income adjustments (“Assessment Order”).MoreLess
  • Tax disputeIncome Tax AuthoritiesSince 30 Jan 2026
    Status Quo
    At the filing before: With respect to an Assessment Order and Demand Notice dated December 31, 2025, passed by the Deputy Commissioner of Income Tax under sections 143(3)/144C of the Income Tax Act, 1961, raising a tax demand of INR 17,12,36,410 for Assessment Year 2022 23, the Company has filed an appeal along with stay application before the ITAT, Ahmedabad Bench. Pursuant to the filing of the stay application, the ITAT, by its order dated February 13, 2026, granted a conditional stay on the recovery of the dispute demand, subject to payment of 20% of the disputed tax demand in two equal Instalments. The matter is pending for adjudication. The intimation with regard to stays order was informed to the stock exchanges on February 14, 2026.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

At most 2 complaints open, quarter to Sep 2025.
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
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.