Vipul Organics MD, chairman and AGM

Vipul Organics 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

Managing directorVipul Pravinchandra Shah

6 directors3 independent2 executive1 non-executive

Vipul Pravinchandra Shah · Managing directorExecutive · joined Jun 1992 · 1 listed board · 2 committee seats
Shiv Nath SahaiNon-executive · joined Dec 1993 · 1 listed board
Rupesh Jagdish AgrawalIndependent · joined Apr 2024 · 27 months as independent · 1 listed board · 1 as independent · 1 committee seat
Sidhan SubramanianIndependent · joined Apr 2024 · 27 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
Mihir Vipul ShahExecutive · joined Apr 2020 · 1 listed board · 1 committee seat
Megha Satyendra BhatiIndependent · joined Nov 2018 · reappointed Nov 2023 · 94 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
- 31 Aug 20266 of 6 present3 independent · 16 days in between
- 14 Aug 20266 of 6 present3 independent · 75 days in between
- 30 May 20266 of 6 present3 independent
Audit Committee
Chair Sidhan Subramanian
Rupesh Jagdish Agrawal, Vipul Pravinchandra Shah
- 14 Aug 20263 of 3 present2 independent · 75 days in between
- 30 May 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Sidhan Subramanian
Rupesh Jagdish Agrawal, Megha Satyendra Bhati
- 30 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair Sidhan Subramanian
Vipul Pravinchandra Shah, Mihir Vipul Shah
No meeting listed in the filing.

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

J.A.RAJANI AND COPeer-review certificate valid to Apr 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.

Vipul Organics 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.Vipul Organics dividend history

Annual general meeting, 30 Sep 2026

6,438 shareholders on the register on 23 Sep 2026; present: 4 promoters and 48 others; votes counted by POONAM SOMANI / SOMANI & ASSOCIATES.The company's voting result (opens in a new tab)

To receive, consider and adopt (a) the Standalone Audited Financial Statements of the Company for the financial year ended 31st March, 2026 together with the reports of the Board of Directors and Auditors thereon; and (b) the Consolidated Audited Financial Statements of the Company for the financial year ended 31st March, 2026 together with the report of the Auditors thereonMoreLess
OrdinaryPromoters have an interest in it
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 64.97% · promoters 96.58% · institutions 0.00% · other public 8.94%
To declare dividend on Equity Shares for the financial year ended 31st March, 2026
OrdinaryPromoters have an interest in it
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 64.97% · promoters 96.58% · institutions 0.00% · other public 8.94%
To appoint a director in place of Mr. Mihir Vipul Shah (DIN: 05126125), who retires by rotation and being eligible, offers himself for re-appointment as a director
OrdinaryPromoters have an interest in it
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 3.85% · promoters 1.00% · institutions 0.00% · other public 8.94%
To approve revision in remuneration payable to Mrs. Mita V. Shah, being Related Party, holding an office or place of profit in the company
OrdinaryPromoters have an interest in it
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 3.85% · promoters 1.00% · institutions 0.00% · other public 8.94%
To approve revision in remuneration payable to Mr. Vipul P. Shah (DIN: 00181636), 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 3.22% · promoters 0.00% · institutions 0.00% · other public 8.94%
To approve revision in remuneration payable to Mr. Mihir V. Shah (DIN: 05126125), Whole Time Director and Chief Financial Officer 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 3.85% · promoters 1.00% · institutions 0.00% · other public 8.94%
Alteration of the Object Clause of the Memorandum of Association of the Company
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 64.97% · promoters 96.58% · institutions 0.00% · other public 8.94%
Approval for Amendment to the `Vipul Organics Limited ` Employee Stock Option Scheme, 2022` (`VOL ESOS 2022`)
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 64.97% · promoters 96.58% · institutions 0.00% · other public 8.93%
To approve the re-appointment of Mr. Vipul P. Shah (DIN: 00181636) 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 3.22% · promoters 0.00% · institutions 0.00% · other public 8.94%

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.

Dealings with its subsidiaries, promoters, directors and their firms, reported every half-year.Promoters and their stake

Half-year to Mar 2026: ₹12 Cr13 dealings
Half-year to Sep 2025: ₹9 Cr18 dealings
Half-year to Mar 2025: ₹7 Cr18 dealings
Half-year to Sep 2024: ₹6 Cr20 dealings
Half-year to Mar 2024: ₹11 Cr18 dealings
Half-year to Sep 2023: ₹7,73,607 Cr19 dealings

Between	Dealing
Vipul Organics Limited and Jayashree ChemicalsOther Related Party (Entities in which KMP or their relatives have significant influence)	Purchase of goods or services	–	3.50	0.70	0.00
Vipul Organics Limited and Amar Trading CorporationOther Related Party (Entities in which KMP or their relatives have significant influence)	Purchase of goods or services	–	3.37	0.65	0.00
Vipul Organics Limited and VIP CHEM LLPOther Related Party (Entities in which KMP or their relatives have significant influence)	Purchase of goods or services	–	1.74	−0.54	0.00
Vipul Organics Limited and Vipul P. ShahPromoter/ Promoter Group, Key Managerial Personnel, Executive Director, Managing Director	Remuneration	1.44	0.78	−0.07	−0.08
Vipul Organics Limited and Mihir V. ShahPromoter Group Executive Director Whole Time Direcror	Remuneration	1.32	0.73	−0.06	−0.07
Vipul Organics Limited and Jayashree ChemicalsOther Related Party (Entities in which KMP or their relatives have significant influence)	Sale of goods or services	–	0.60	3.55	0.53
Vipul Organics Limited and Vatsal V. ShahPromoter/Promoter Group	Any other transactionSalaries and other employees benefits	–	0.48	−0.02	−0.05
Vipul Organics Limited and Amar Trading CorporationOther Related Party (Entities in which KMP or their relatives have significant influence)	Sale of goods or services	–	0.38	0.14	−0.39
Vipul Organics Limited and Mita V. ShahPromoter/Promoter Group	Any other transactionSalaries and other employees benefits	–	0.15	−0.02	−0.02
Vipul Organics Limited and Standardcon Pvt LimitedOther Related Party (Entities in which KMP or their relatives have significant influence)	Purchase of goods or services	–	0.10	−0.15	−0.10
Vipul Organics Limited and Janvi N DadiaRelative of Key Managerial Personnel	Any other transactionSalaries and other employees benefits	–	0.04	−₹50,000	−₹70,000
Vipul Organics Limited and VIP CHEM LLPOther Related Party (Entities in which KMP or their relatives have significant influence)	Sale of goods or services	–	0.04	0.37	0.05
Vipul Organics Limited and Vipul P. Shah HUFPromoter	Any other transactionRent	–	0.03	−0.02	0.00

The 13 largest of 13 dealings in the half-year to Mar 2026, ₹ crore.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

Tax disputeIncome Tax Appellant Tribunal, MumbaiSince 20 May 2005
Pending with the respective forum
Tax disputeCommissioner of Income Tax Appeals, MumbaiSince 19 Sep 2013
Pending with the respective forum
Tax disputeIncome Tax Appellant Tribunal, MumbaiSince 24 Dec 2021
Pending with the respective forum, The Company has decided to prefer an appeal with Income Tax Appellant Tribunal against the order dated 29/05/2024 passed by Commissioner of Income Tax-Appeals
At the filing before: Pending with the respective forum
Tax disputeCommissioner of Income Tax AppealsSince 1 May 2024
Pending with the respective forum
Tax disputeIncome Tax Appellant Tribunal, MumbaiSince 20 Aug 2025
Pending with the respective forum

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: No
The company has a risk management committee: No
The chair is related to the managing director: No
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.

Raised	Amount raised	For	Set aside	Spent	Spent elsewhere
Preferential IssuesDec 2025	27.54	To meet expenditure / cost towards and relating to upgradation of manufacturing facilities and/or expand production capacity and business to meet the growth prospect and business opportunities.	10.66	10.66	No
Preferential IssuesDec 2025	27.54	To reduce long term debts borrowed from Bank	10.00	0.00	No
Preferential IssuesDec 2025	27.54	General Corporate Purposes (includes, inter alia, meeting ongoing general corporate exigencies, working capital and contingencies, expenses of the Company as applicable, including fees and expenses related to the Issue, in such a manner and proportion as may be decided by the Board from time to time, and/or any other general purposes as may be permissible under applicable laws)	6.88	6.88	No

₹ 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.

Vipul Organics board of directors

Committees and meetings

Board

Audit Committee

Nomination and remuneration committee

Stakeholders Relationship Committee