Ather Energy CEO, chairman, board of directors and AGM
NSE: ATHERENERGBSE: 544397AutomobilesSmall Cap
Share price at the NSE close on 29 Oct 2026. Previous close ₹1,650.00.
29 Oct: open ₹1,654.90, high ₹1,678.00, low ₹1,633.00
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹65,955 Cr260th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Taken from the consolidated balance sheet, the company and its subsidiaries together; the P/E is on the company's own results until four consolidated quarters are filed. Price to book: how it is worked out
- 15.39
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- −6.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- −6.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026. Taken from the consolidated balance sheet, the company and its subsidiaries together; the P/E is on the company's own results until four consolidated quarters are filed.
- 0.19
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 16,83,20134.5% delivered
Ather Energy's chairperson is Neelam Dhawan and its chief executive Mehta Tarun Sanjay, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 19 Aug 2026.
Ather Energy 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
- ChairpersonNeelam Dhawan
- Chief executiveMehta Tarun Sanjay
- Company Secretary and Compliance OfficerPuja Aggarwal
8 directors3 independent2 executive3 non-executive
- Neelam Dhawan · ChairpersonIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 6 listed boards · 6 as independent · 6 committee seats, 3 as chair
- Mehta Tarun Sanjay · Chief executiveExecutive · joined Oct 2013 · reappointed May 2024 · 1 listed board · 1 committee seat
- Swapnil Babanlal JainExecutive · joined Oct 2013 · reappointed May 2024 · 1 listed board
- Pankaj SoodNon-executive · joined Nov 2022 · reappointed Sep 2025 · 3 listed boards · 1 committee seat
- K RamNon-executive · joined Jan 2023 · 1 listed board · 1 committee seat
- Kaushik DuttaIndependent · joined May 2024 · reappointed May 2024 · 28 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 3 as chair
- Sanjay NayakIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 1 listed board · 1 as independent · 1 committee seat
- Vivek AnandNon-executive · joined Nov 2025 · 1 listed board · 1 committee seat, 1 as chair
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.
2 directors who left
- Nilesh Shrivastava, left 27 May 2025: Others
- Niranjan Kumar Gupta, left 6 May 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 3 Aug 20268 of 8 present8 independent · 18 days in between
- 15 Jul 20268 of 8 present3 independent · 32 days in between
- 12 Jun 20267 of 8 present3 independent · 6 days in between
- 5 Jun 20268 of 8 present3 independent · 31 days in between
2 earlier meetings
- 4 May 20268 of 8 present3 independent · 10 days in between
- 23 Apr 20268 of 8 present3 independent
Audit Committee
Chair Kaushik Dutta
Neelam Dhawan, K Ram
- 3 Aug 20263 of 3 present2 independent · no day in between
- 2 Aug 20263 of 3 present2 independent · 89 days in between
- 4 May 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Sanjay Nayak
Neelam Dhawan, Pankaj Sood
- 2 Aug 20263 of 3 present2 independent · 39 days in between
- 23 Jun 20263 of 3 present2 independent · 76 days in between
- 7 Apr 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Neelam Dhawan
Sanjay Nayak, Mehta Tarun Sanjay
- 2 Aug 20263 of 3 present2 independent
Risk Management Committee
Chair Kaushik Dutta
Swapnil Babanlal Jain, K Ram
- 2 Aug 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 Sep 2026.
- Deloitte Haskins & SellsPeer-review certificate valid to Apr 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.
Ather Energy 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.
Annual general meeting, 19 Aug 2026
2,79,609 shareholders on the register on 12 Aug 2026; present: 2 promoters and 64 others; votes counted by Biswajit Ghosh / BMP & Co. LLP.
- To consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.13%
Turnout: all 73.15% · promoters 100.00% · institutions 72.69% · other public 0.19%
- To appoint a director in place of Mr. Ram Kuppuswamy (DIN: 09817635), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary98.91% for1.09% against
Against: promoters 0.00% · institutions 2.38% · other public 0.41%
Turnout: all 73.15% · promoters 100.00% · institutions 72.69% · other public 0.19%
- Re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as Statutory Auditors of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.40%
Turnout: all 73.15% · promoters 100.00% · institutions 72.69% · other public 0.19%
- Extension of the benefits of ‘Amended and Restated Ather Energy ESOP Plan 2025’ to the employees of subsidiary companies.Special86.46% for13.54% against
Against: promoters 0.00% · institutions 29.50% · other public 0.69%
Turnout: all 73.15% · promoters 100.00% · institutions 72.69% · other public 0.19%
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, 14 Aug 2026, 1 resolution
2,75,568 shareholders on the register on 7 Aug 2026; present: 2 promoters and 58 others; votes counted by Biswajit Ghosh / BMP & Co. LLP.
- To approve the issuance of equity shares and convertible warrants by way of preferential issueSpecialPromoters have an interest in it97.72% for2.28% against
Against: promoters 0.00% · institutions 4.58% · other public 0.13%
Turnout: all 79.29% · promoters 100.00% · institutions 85.32% · other public 1.86%
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, 14 Jul 2026, 1 resolution
2,27,256 shareholders on the register on 5 Jun 2026; votes counted by Biswajit Ghosh / BMP & Co. LLP.
- RAISING OF FUNDS BY ISSUE OF EQUITY SHARES THROUGH QUALIFIED INSTITUTIONS PLACEMENT, IN ONE OR MORE TRANCHES, FOR AN AGGREGATE AMOUNT OF UP TO INR 1,500 CRORESSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.57%
Turnout: all 80.68% · promoters 100.00% · institutions 87.56% · other public 2.15%
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 Jan 2026, 1 resolution
1,75,856 shareholders on the register on 19 Dec 2025; votes counted by Biswajit Ghosh / BMP & Co. LLP.The company's voting result
- Appointment of Mr. Vivek Anand (DIN: 06891864) as a Non-Executive Non-Independent Director of the CompanyOrdinary99.84% for0.16% against
Against: promoters 0.00% · institutions 0.31% · other public 1.93%
Turnout: all 81.12% · promoters 100.00% · institutions 87.73% · other public 2.09%
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, 17 Sep 2025, 3 resolutions
1,34,236 shareholders on the register on 10 Sep 2025; present: 2 promoters and 49 others; votes counted by Pramod S M / BMP & Co. LLP.The company's voting result
- To consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 89.42% · promoters 100.00% · institutions 91.51% · other public 41.63%
- To appoint a Director in place of Mr. Pankaj Sood (DIN: 05185378), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary99.83% for0.17% against
Against: promoters 0.00% · institutions 0.35% · other public 0.00%
Turnout: all 89.42% · promoters 100.00% · institutions 91.51% · other public 41.63%
- To appoint Secretarial Auditors of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 89.42% · promoters 100.00% · institutions 91.51% · other public 41.63%
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, 17 Aug 2025, 2 resolutions
1,33,648 shareholders on the register on 17 Jul 2025; votes counted by Pramod S M / BMP & Co. LLP.
Approve Reclassification of Authorised Share Capital by classifying the compulsorily convertible preference shares into a resultant number of equity shares and consequent alteration to the Capital Clause of the Memorandum of Association of the Company.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 91.18% · promoters 100.00% · institutions 92.05% · other public 47.78%
- Approval and Ratification of ‘Amended and Restated Ather Energy ESOP Plan 2025’Special87.64% for12.36% against
Against: promoters 0.00% · institutions 25.29% · other public 0.05%
Turnout: all 91.18% · promoters 100.00% · institutions 92.05% · other public 47.79%
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 19 Aug 2026, 29 fund houses
- To consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.29 for0 against
- To appoint a director in place of Mr. Ram Kuppuswamy (DIN: 09817635), who retires by rotation and being eligible, offers himself for re-appointment.29 for0 against
- Re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as Statutory Auditors of the Company.29 for0 against
- Extension of the benefits of ‘Amended and Restated Ather Energy ESOP Plan 2025’ to the employees of subsidiary companies.
Against Angel One Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund, The Wealth Company Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundInadequate disclosure of Exercise Price/ Pricing Formula; disclosures do not align with the intended purpose of law. Absolute Discretion to Nomination & Remuneration Committee to determine Exercise Price; Governance & Transparency concern: Excessive potential benefit to a single employee.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern identified with regard to extension of benefits to employees of subsidiary company(ies) ESOP 2025. The Scheme is NonCompliant with SEBI SBEB & SE Regulations 2021: Inadequate disclosure of Exercise Price/ Pricing Formula; disclosures do not align with the intended purpose of law. Absolute Discretion to NRC to determine Exercise Price; Governance & Transparency concern: Excessive potential benefit to a single employee.
- DSP Mutual Fund, Jio BlackRock Mutual Fund, The Wealth Company Mutual FundThe amended scheme provides the Nomination and Remuneration Committee (NRC) with the flexibility to determine the exercise price and vesting criteria. In the absence of adequate disclosures, we are unable to assess whether the scheme contours are aligned with shareholder interests. We do not favour schemes where there is no clarity on the exercise price, or where the exercise price may be set at a significant discount (greater than 20%) to the prevailing market price, unless the scheme incorporates performance-based vesting conditions with clearly defined metrics, weightages, and targets. While we support the extension of the ESOP scheme to employees of unlisted subsidiaries, our view on this resolution is linked to our assessment of the underlying ESOP scheme. Accordingly, we do not support the resolution.
- HDFC Mutual FundLack of clarity on the pricing of ESOPs. We do not support the resolution.
- Invesco Mutual FundNo concern identified with regard to extension of benefits to employees of subsidiary company(ies) ESOP 2025. The Scheme is Non-Compliant with SEBI SBEB & SE Regulations 2021: Inadequate disclosure of Exercise Price/ Pricing Formula; disclosures do not align with the intended purpose of law. Absolute Discretion to NRC to determine Exercise Price; Governance & Transparency concern: Excessive potential benefit to a single employee
- Kotak Mahindra Mutual FundThe amended scheme provides the Nomination and Remuneration Committee (NRC) with the flexibility to determine the exercise price and vesting criteria. In the absence of adequate disclosures, we are unable to assess whether the scheme contours are aligned with shareholder interests. While we support the extension of the ESOP scheme to employees of unlisted subsidiaries, our view on this resolution is linked to our assessment of the underlying ESOP scheme. Accordingly, we do not support the resolution.
- LIC Mutual FundThe Scheme is NonCompliant with SEBI SBEB & SE Regulations 2021: Inadequate disclosure of Exercise Price/ Pricing Formula; disclosures do not align with the intended purpose of law. Absolute Discretion to NRC to determine Exercise Price; Governance & Transparency concern: Excessive potential benefit to a single employee.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
15 for14 against
Mutual fund votes, meeting of 14 Aug 2026, 29 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- To approve the issuance of equity shares and convertible warrants by way of preferential issue1 for0 against
3 proposals not matched to one resolution
1) Approve preferential issue of ~1.6 mn equity shares at Rs 1,230.0 per share to raise ~Rs 2.0 bn from India Japan Fund (non-promoter), and ~7.9 mn warrants at Rs 1,260.0 per warrant to raise an aggregate of Rs. 10.0 bnMoreLess
1 for0 againstApprove preferential issue of ~1.6 mn equity shares at Rs 1,230.0 per share to raise ~Rs 2.0 bn from India Japan Fund (non-promoter), and ~7.9 mn warrants at Rs 1,260.0 per warrant to raise an aggregate of Rs. 10.0 bnMoreLess
3 for0 againstTo create, issue, offer and allot by way of preferential issue on a private placement basis, up to 16,26,016 fully paid-up Equity Shares of the Company, (Equity Subscription Shares) having face value of INR 1 each, at a price of INR 1,230 (including a premium of INR 1,229 per Equity Share, for cash consideration, aggregating up to INR 1,99,99,99,680, which is not less than the floor price determined in accordance with Chapter V of the SEBI ICDR Regulations (Floor Price).MoreLess
Against Angel One Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Navi Mutual Fund, The Wealth Company Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundGovernance and Transparency concern: The Company has not adequately disclosed the specific objective or urgency of the proposed fund raise, thereby limiting shareholders’ ability to assess the necessity of the transaction. Further, the warrants are proposed to be issued at the floor price determined under Chapter V of the SEBI (ICDR) Regulations, 2018 with a nominal premium which does not appears adequate. Additionally, the Company has not provided sufficient justification for issuance of warrants to the promoters, resulting in a lack of clarity on the overall rationale of the proposed issuance.
- Groww Mutual Fund, Invesco Mutual Fund, Navi Mutual Fund, The Wealth Company Mutual Fund, Zerodha Mutual FundCompliant with law. Governance and Transparency concern: The Company has not adequately disclosed the specific objective or urgency of the proposed fund raise, thereby limiting shareholders’ ability to assess the necessity of the transaction. Further, the warrants are proposed to be issued at the floor price determined under Chapter V of the SEBI (ICDR) Regulations, 2018 with a nominal premium which does not appears adequate. Additionally, the Company has not provided sufficient justification for issuance of warrants to the promoters, resulting in a lack of clarity on the overall rationale of the proposed issuance.
18 for6 against
Mutual fund votes, meeting of 14 Jul 2026, 27 fund houses
2 proposals
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- RAISING OF FUNDS BY ISSUE OF EQUITY SHARES THROUGH QUALIFIED INSTITUTIONS PLACEMENT, IN ONE OR MORE TRANCHES, FOR AN AGGREGATE AMOUNT OF UP TO INR 1,500 CRORES26 for0 against
1 proposal not matched to one resolution
- Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights1 for0 against
Mutual fund votes, meeting of 21 Jan 2026, 23 fund houses
1 proposal
- Appointment of Mr. Vivek Anand (DIN: 06891864) as a Non-Executive Non-Independent Director of the Company23 for0 against
Mutual fund votes, meeting of 17 Sep 2025, 12 fund houses
3 proposals
- To consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon12 for0 against
- To appoint a Director in place of Mr. Pankaj Sood (DIN: 05185378), who retires by rotation and being eligible, offers himself for re-appointment
Against Edelweiss Mutual Fund, Groww Mutual Fund
- Edelweiss Mutual Fund, Groww Mutual FundCompliant with law. Transparency concern: Full time positions in 2 companies & no clarity whether substantial stake exists between the two companies.
10 for2 against - To appoint Secretarial Auditors of the Company12 for0 against
Mutual fund votes, meeting of 17 Aug 2025, 8 fund houses
2 proposals
Approve Reclassification of Authorised Share Capital by classifying the compulsorily convertible preference shares into a resultant number of equity shares and consequent alteration to the Capital Clause of the Memorandum of Association of the Company.MoreLess
8 for0 against- Approval and Ratification of ‘Amended and Restated Ather Energy ESOP Plan 2025’
Against Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund
- Edelweiss Mutual Fund, Groww Mutual FundNon-Compliant under SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price Governance concern: Excessive potential benefit to a single employee.
- Invesco Mutual FundThe company seeks shareholders’ approval to ratify the Ather Energy ESOP Plan 2025. The company proposes to amend the ESOP plan to align it with SEBI SBEB regulations. The proposed amendments also include increasing the pool size to 26,656,428 options (6.7% dilution on the expanded capital base) and changes to the definition of exercise price and vesting period. The amended scheme does not provide clarity with respect to exercise price and vesting criteria – it allows the NRC the flexibility to decide. In the absence of clarity, we are unable to evaluate if the scheme countours align with investor interest. We do not favour schemes where there is no clarity on exercise price, or the exercise price is at a significant discount (>20%) to market price, unless the scheme has performance-based vesting conditions with clearly defined parameters and targets. Given these reasons, we do not support the resolution
5 for3 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 penaltyBengaluru Traffic Police, KarnatakaSince 25 Jul 2026
Traffic challan (e-challan) issued; monetary fine of INR 500 imposed on vehicle registered under Companies name
Driving without rear-view mirror. - Fine or penaltyPolice Inspector, Chinchwad Traffic Division, Pimpri Chinchwad Police Commissionerate, Maharashtra Traffic PoliceSince 12 Oct 2026
Traffic challan (e-challan) issued for a compounding fee of INR 1,500 imposed on vehicle registered under Companies name. The Company had paid the challan on August 18, 2026 and subsequently on October 12, 2026 the Court has issued an order for disposal of the case.
Alleged violations by the driver of Company at Walhekarwadi Chowk, Chinchwad, Pune (i) Section 198 of the Motor Vehicles Act, 1988 – unauthorised interference with vehicle (₹1,000); and (ii) Rule 239 of the Maharashtra Motor Vehicles Rules, 1989 r/w Section 177 of the Motor Vehicles Act, 1988 – police manual signal violation (₹500).MoreLess
- Tax disputeAssistant commissioner (State tax)Since 20 Oct 2023Show cause notice issued on 23.09.2026 on the same grounds, response to be filedAt the filing before: Notice issued alleging excess availment of credit for the FY 22-23 ; response filed
- Tax disputeDeputy Commissioner Appeals Chennai (Central)Since 26 Dec 2024Proceesings dropped and favourable order issued on 29.08.2026At the filing before: Appeal filed by department against refund sanctioned to the Company for the month of November 2023
- Tax disputeDeputy Commissioner Appeals Chennai (Central)Since 26 Dec 2024Proceedings dropped and favourable order issued on 27.08.2026At the filing before: Appeal filed by department against refund sanctioned to the Company for the month of December 2023
- Tax disputeDeputy Commissioner Appeals Chennai (Central)Since 26 Dec 2024Proceedings dropped and favourable order issued 27.08.2026At the filing before: Appeal filed by department against refund sanctioned to the Company for the month of January 2024
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
- 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.
How money raised was used
Reported for the quarter to Sep 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 |
|---|---|---|---|---|---|
| Public IssuesMay 2025, checked by CARE RATINGS LIMITED | 2,626.00 | Capital expenditure to be incurred by Company for establishment of an E2W factory in Maharashtra, India | 927.20 | 427.92 | No |
| Public IssuesMay 2025, checked by CARE RATINGS LIMITED | 2,626.00 | Repayment/ pre-payment, in full or part, of certain borrowings availed by the company | 40.00 | 40.00 | No |
| Public IssuesMay 2025, checked by CARE RATINGS LIMITED | 2,626.00 | Investment in research and development | 750.00 | 294.80 | No |
| Public IssuesMay 2025, checked by CARE RATINGS LIMITED | 2,626.00 | Expenditure towards marketing initiatives | 300.00 | 135.09 | No |
| Public IssuesMay 2025, checked by CARE RATINGS LIMITED | 2,626.00 | General corporate purposes | 498.80 | 358.50 | No |
| Public IssuesMay 2025, checked by CARE RATINGS LIMITED | 2,626.00 | Issue Expenses | 110.00 | 107.94 | No |
| QIPJul 2026, checked by CARE RATINGS LIMITED | 1,300.00 | Repayment/ pre-payment, in full or part, of certain borrowings | 125.00 | 36.31 | No |
| QIPJul 2026, checked by CARE RATINGS LIMITED | 1,300.00 | Investment in research and development | 750.00 | 0.00 | No |
| QIPJul 2026, checked by CARE RATINGS LIMITED | 1,300.00 | Expenditure towards marketing initiatives | 100.00 | 5.55 | No |
| QIPJul 2026, checked by CARE RATINGS LIMITED | 1,300.00 | General corporate purposes | 294.91 | 0.00 | No |
| QIPJul 2026, checked by CARE RATINGS LIMITED | 1,300.00 | Issue Expenses | 30.09 | 25.39 | No |
| Preferential IssuesAug 2026, checked by CARE RATINGS LIMITED | 450.00 | A) Repayment/ pre-payment, in full or part, of certain borrowings | 625.00 | 0.00 | No |
| Preferential IssuesAug 2026, checked by CARE RATINGS LIMITED | 450.00 | B) Expenditure towards marketing initiatives | 275.00 | 0.00 | No |
| Preferential IssuesAug 2026, checked by CARE RATINGS LIMITED | 450.00 | C) General corporate purposes | 300.00 | 0.27 | No |