SPML Infra logo

SPML Infra MD, chairman, board of directors and AGM

NSE: SPMLINFRABSE: 500402ConstructionSmall Cap

Formerly Subhash Projects & Marketing
Last close ₹128.48down ₹9.18 (6.67%)BSE ₹128.80

Share price at the NSE close on 23 Oct 2026. Previous close ₹137.66.

52-week range of traded prices to 23 Oct 2026
₹125.89Low, 23 Oct 2026₹240.24High, 27 Oct 2025
Market cap
₹1,090 Cr1,307th largest listed
P/E
12.8
P/B
Shares changed
Dividend yield
Nonein the last 12 months
ROE
9.9%
ROCE
6.1%
Debt to equity
0.37
Volume, NSE
3,55,45847.9% delivered

SPML Infra board of directors

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

  • ChairpersonSUBHASH CHAND SETHI
  • Company Secretary and Compliance OfficerSwati Agarwal

10 directors5 independent2 executive3 non-executive

  • SUBHASH CHAND SETHI · ChairpersonNon-executive · joined Jun 1984 · reappointed Sep 2025 · 1 listed board
  • SUSHIL SETHINon-executive · joined Aug 1981 · reappointed Apr 2021 · 2 listed boards · 1 committee seat, 1 as chair
  • MANOJ KUMAR DIGGAExecutive · joined May 2024 · reappointed May 2024 · 1 listed board
  • TIRUVIDAIMARUDHUR SRIVASTAN SIVASHANKARIndependent · joined Jun 2021 · reappointed Jun 2026 · 60 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • MAHENDRA PAL SINGHIndependent · joined Sep 2024 · reappointed Sep 2024 · 21 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • ARUNDHUTI DHARIndependent · joined Feb 2023 · reappointed Feb 2023 · 40 months as independent · 2 listed boards · 2 as independent · 3 committee seats
  • NEETA KARMAKARIndependent · joined Sep 2024 · reappointed Sep 2024 · 21 months as independent · 1 listed board · 1 as independent
  • THARUVAI VENUGOPAL RANGASWAMINominee, non-executive · joined Oct 2024 · reappointed Oct 2024 · 1 listed board
  • ABHINANDAN SETHIExecutive · joined Sep 2025 · reappointed Sep 2025 · 1 listed board · 1 committee seat
  • RAJEEV KUMAR JAINIndependent · joined Sep 2025 · reappointed Sep 2025 · 10 months as independent · 1 listed board · 1 as independent · 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

    • 28 May 20268 of 10 present4 independent · 16 days in between
    • 11 May 202610 of 10 present5 independent · 17 days in between
    • 23 Apr 20268 of 10 present5 independent · 25 days in between
    • 28 Mar 20268 of 10 present5 independent · 43 days in between
    1 earlier meeting
    • 12 Feb 202610 of 10 present5 independent

  • Audit Committee

    Chair MAHENDRA PAL SINGH

    TIRUDAIMARUDHUR SRIVASTAN SIVASHANKAR, ARUNDHUTI DHAR, RAJEEV KUMAR JAIN, SUSHIL SETHI

    • 28 May 20264 of 5 present3 independent · 60 days in between
    • 28 Mar 20265 of 5 present4 independent · 43 days in between
    • 12 Feb 20265 of 5 present4 independent

  • Nomination and remuneration committee

    Chair TIRUDAIMARUDHUR SRIVASTAN SIVASHANKAR

    RAJEEV KUMAR JAIN, MAHENDRA PAL SINGH, SUSHIL SETHI

    • 28 Mar 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair SUSHIL SETHI

    MAHENDRA PAL SINGH, ABHINANDAN SETHI

    • 28 Mar 20262 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair SUBHASH CHAND SETHI

    ARUNDHUTI DHAR, MANOJ KUMAR DIGGA, RAJEEV KUMAR JAIN

    • 27 May 20264 of 4 present2 independent · 103 days in between
    • 12 Feb 20263 of 3 present2 independent
    • 20 Jan 20263 of 3 present2 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Maheshwari & AssociatedPeer-review certificate valid to May 2027
1 earlier auditor
  • Maheshwari & AssociatesNamed in filings from Mar 2025 to Dec 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.

SPML Infra 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.SPML Infra dividend history

Annual general meeting, 25 Sep 2026

26,258 shareholders on the register on 18 Sep 2026; present: 64 promoters and 3 others; votes counted by Mr. TUMUL MAHESHWARI / M/s MT & Co.The company's voting result (opens in a new tab)

  1. To receive consider and adopt the audited standalone and the consolidated financial statements of the Company for the financial year ended March 31 2026 and the reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 35.92% · promoters 77.60% · institutions 0.53% · other public 9.92%

  2. To appoint a Director in place of Mr. Manoj Kumar Digga (DIN 01090626), who retires by rotation and being eligible, offers himself for re appointment as Director of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 35.92% · promoters 77.60% · institutions 0.53% · other public 9.92%

  3. To ratify the Remuneration of Cost Auditor for the Financial Year 2026 27
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 35.92% · promoters 77.60% · institutions 0.53% · other public 9.92%

  4. To consider and approve the re appointment of Mr. Rajeev Kumar Jain (DIN 07905985) as an Independent Director of the Company for the period of 5 years for 2nd term
    Special
    99.99% for0.01% against

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

    Turnout: all 35.92% · promoters 77.60% · institutions 0.53% · other public 9.92%

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, 27 Aug 2026, 1 resolution

26,568 shareholders on the register on 24 Jul 2026; votes counted by TUMUL MAHESHWARI / MT & Co.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Tiruvidaimarudhur Srivatsan Sivashankar (DIN: 02720714 ) as an Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 32.73% · promoters 73.69% · institutions 0.53% · other public 6.29%

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

Extraordinary general meeting, 16 May 2026, 3 resolutions

24,674 shareholders on the register on 9 May 2026; present: 2 promoters and 39 others; votes counted by TUMUL MAHESHWARI / MT & CO.The company's voting result (opens in a new tab)

  1. To approve the issuance of 309141 equity shares by infusion of fresh funds on preferential basis to Non Promoter
    Special
    100.00% for0.00% against

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

    Turnout: all 10.69% · promoters 13.58% · institutions 0.05% · other public 11.54%

  2. To approve the issuance of 9539449 warrants by infusion of fresh funds on preferential basis to Promoter and Non Promoter
    Special
    100.00% for0.00% against

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

    Turnout: all 10.69% · promoters 13.58% · institutions 0.05% · other public 11.54%

  3. To approve the issuance of 384858 equity shares to national Asset Reconstruction Company Limited (Non Promoter) by conversion of existing loan on preferential basis
    Special
    100.00% for0.00% against

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

    Turnout: all 10.69% · promoters 13.58% · institutions 0.05% · other public 11.54%

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 May 2026, 2 resolutions

23,502 shareholders on the register on 31 Mar 2026; votes counted by Tumul Maheshwari / MT & Co..The company's voting result (opens in a new tab)

  1. To approve material related party transaction with JWIL Infra Limited
    OrdinaryPromoters have an interest in it
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 92.74% · other public 0.01%

    Turnout: all 5.36% · promoters 0.00% · institutions 0.04% · other public 11.93%

  2. Payment of remuneration to Mr. Tharuvai Venugopal Rangaswami (DIN: 01957380), Nominee Director in addition to sitting fees
    Special
    100.00% for0.00% against

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

    Turnout: all 33.18% · promoters 70.25% · institutions 0.04% · other public 12.02%

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.

Extraordinary general meeting, 10 Dec 2025, 2 resolutions

20,576 shareholders on the register on 3 Dec 2025; present: 6 promoters and 38 others; votes counted by TUMUL MAHESHWARI / MT & CO.The company's voting result (opens in a new tab)

  1. To approve the issuance of 11,44,436 Equity shares to National Asset Reconstruction Company Limited by conversion of existing loan on preferential basis
    Special
    100.00% for0.00% against

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

    Turnout: all 37.82% · promoters 83.99% · institutions 0.51% · other public 11.78%

  2. Payment of Additional remuneration to Mr. Tharuvai Venugopal Rangaswami (DIN : 01957380), Nominee Director in addition to sitting fee
    Special
    100.00% for0.00% against

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

    Turnout: all 37.82% · promoters 83.99% · institutions 0.51% · other public 11.78%

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

Postal ballot, 11 Oct 2025, 3 resolutions

20,619 shareholders on the register on 5 Sep 2025; votes counted by TUMUL MAHESHWARI / MT & CO.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Abhinandan Sethi (DIN : 03576095) as Managing Director of the Company
    SpecialPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 6.22% · promoters 0.00% · institutions 0.69% · other public 12.31%

  2. Change in Designation of Mr. Subhash Chand Sethi (DIN : 00464390) from Chairman and Whole Time Director to Non-Executive Chairman and Dierctor of the Company
    SpecialPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 6.22% · promoters 0.00% · institutions 0.69% · other public 12.31%

  3. Appointment of Mr. Rajeev Kumar Jain (DIN : 07905985) AS AN Independent dierctor of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 40.13% · promoters 96.56% · institutions 0.69% · other public 12.31%

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

Annual general meeting, 24 Sep 2025, 4 resolutions

21,209 shareholders on the register on 24 Sep 2025; present: 4 promoters and 77 others; votes counted by Mr.Tumul Maheshwari / M/s M.T & Co.The company's voting result (opens in a new tab)

  1. To receive consider and adopt the audited standalone and consolidated financial statements along with Audit Report and Director Report of the company for the financial year ended 31st March 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 39.87% · promoters 96.56% · institutions 0.00% · other public 12.00%

  2. To appoint a Director in place of Mr. Sushil Sethi(DIN: 00062927), who retires by rotation and being eligible, offers himself for re-appointment as Director of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 39.87% · promoters 96.56% · institutions 0.00% · other public 12.00%

  3. To ratify the Remuneration of Cost Auditor for the Financial Year 2025-26
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 39.87% · promoters 96.56% · institutions 0.00% · other public 12.00%

  4. To consider and approve the appointment of Messers MKB and Associates Practicing Company Secretaries (Firm Registration: P2010WB042700) as Secretarial Auditors for a term of 5 (five) consecutive years and to fix their remunerationMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 39.87% · promoters 96.56% · institutions 0.00% · other public 12.00%

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, 23 Mar 2025, 1 resolution

14,660 shareholders on the register on 14 Feb 2025; votes counted by TUMUL MAHESHWARI / MT & CO..The company's voting result (opens in a new tab)

  1. TO approve the Related Party Transactions with JWIL Infra Ltd
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 2.34% · promoters 0.00% · institutions 0.00% · other public 4.64%

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

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeWest Bengal Commercial Taxes Appellate and Revisional Board, KolkataSince 13 Feb 2012
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeWest Bengal Commercial Taxes Appellate and Revisional Board, KolkataSince 3 Jan 2014
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeWest Bengal Commercial Taxes Appellate and Revisional Board, KolkataSince 7 Mar 2014
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeWest Bengal Commercial Taxes Appellate and Revisional Board, KolkataSince 7 Mar 2014
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeWest Bengal Commercial Taxes Appellate and Revisional Board, KolkataSince 3 Jan 2014
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeWest Bengal Commercial Taxes Appellate and Revisional Board, KolkataSince 24 Jan 2015
    Order due
    At the filing before: Demand disputed
  • Tax disputeJCCT Appeals, PatnaSince 26 Feb 2015
    Appeal filed at JCCT
    At the filing before: Demand disputed
  • Tax disputeJCCT Appeals, PatnaSince 10 Apr 2019
    Petition filled at Tribunal
    At the filing before: Demand disputed
23 more
  • Tax disputeJCCT Appeals, PatnaSince 25 Mar 2016
    Appeal filed at JCCT
    At the filing before: Demand disputed
  • Tax disputeAdditional Commissioner, AgraSince 25 Mar 2014
    Matter in appeal
    At the filing before: Demand disputed
  • Tax disputeJCCT (Appeals) JamshedpurSince 10 Nov 2014
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeJCCT (Appeals) JamshedpurSince 13 Mar 2016
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeJCCT (Appeals) JamshedpurSince 13 Mar 2016
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeCommissioner DVAT, DelhiSince 2 Sep 2014
    Demand disputed
  • Tax disputeDeputy Commissioner, Appeals-II JaipurSince 30 Mar 2014
    Hearing Pending
    At the filing before: Appeal filed by Tax Department
  • Tax disputeDeputy Commissioner, Appeals-II JaipurSince 30 Mar 2014
    Hearing Pending
    At the filing before: Appeal filed by Tax Department
  • Tax disputeJCCT Appeals, PatnaSince 12 Jan 2019
    Appeal filed
    At the filing before: Demand disputed
  • Tax disputeSr JCCT, Appeals, Comml Taxes, KolkataSince 10 Sep 2020
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeAppeal filed at JCCT - PatnaSince 20 Sep 2020
    Appeal filed at JCCT
    At the filing before: Demand disputed
  • Tax disputeCommissioner Service Tax, KolkataSince 31 Mar 2011
    Case is being heard
  • Tax disputeDGGI- West Bengal AppealsSince 4 Feb 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Bihar Appeals GSTATSince 24 Sep 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Delhi AppealsSince 14 Jul 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Gujarat Appeals GSTATSince 9 Jan 2026
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Gujarat Commissioner AppealsSince 19 Aug 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Gujarat Commissioner AppealsSince 30 Sep 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Jharkhand-Appeals GSTATSince 18 Sep 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Rajasthan Commissioner AppealsSince 2 Dec 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Rajasthan Commissioner AppealsSince 12 Dec 2025
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Telangana GSTAT AppealsSince 21 Jan 2026
    Hearing Pending
    At the filing before: Demand disputed
  • Tax disputeGST-Telangana Commissioner AppealsSince 24 Sep 2025
    Hearing Pending
    At the filing before: Demand disputed

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
No
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
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. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the company filed the same raise a power of ten apart in its other statements and the filings do not settle which is right.

RaisedAmount raisedForSet asideSpentSpent elsewhereReason and comments
Preferential IssuesOct 2024, checked by ICRA LIMITED–––NoAudit committee: Audit Committee took note of the same
₹ 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.