Delta Manufacturing logo

Delta Manufacturing MD, chairman and AGM

NSE: DELTAMAGNTBSE: 504286Industrial ProductsSmall Cap

Delta Manufacturing Limited · Formerly Delta Magnets · Face value ₹10 · Listed Nov 1985 on BSE, Oct 1995 on NSE
Last close ₹53.07down ₹1.20 (2.21%)BSE ₹54.60

Share price at the NSE close on 29 Oct 2026. Previous close ₹54.27.

29 Oct: open ₹54.27, high ₹55.95, low ₹52.00

52-week range of traded prices to 29 Oct 2026
₹45.51Low, 30 Mar 2026₹84.60High, 1 Dec 2025
Market cap
₹58 Cr3,203rd largest listed
P/E
Lossover the last 12 months
P/B
24.98
Dividend yield
Nonein the last 12 months
ROE
−124.6%
ROE without one-offs
−34.1%
ROCE
0.7%
Debt to equity
16.97
Volume, NSE
10,24771.7% delivered

Delta Manufacturing's chairperson is Jaydev Mukund Mody and its managing director Ram Hemant Shroff, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 30 Sep 2026.

Delta Manufacturing 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

  • ChairpersonJaydev Mukund ModyRelated to the promoter
  • Managing directorRam Hemant Shroff
  • Company Secretary and Compliance OfficerMadhuri Pawar

7 directors4 independent1 executive2 non-executive

  • Jaydev Mukund Mody · ChairpersonNon-executive · joined Mar 2008 · 2 listed boards · 1 committee seat, 1 as chair
  • Ram Hemant Shroff · Managing directorExecutive · joined Aug 2011 · 1 listed board · 2 committee seats
  • Darius Khushroo KhambattaIndependent · joined Oct 2012 · reappointed Sep 2024 · 84 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • Aurobind Ashabhai PatelIndependent · joined Aug 2024 · reappointed Aug 2024 · 26 months as independent · 2 listed boards · 2 as independent · 3 committee seats
  • Jehangir Homi AibaraIndependent · joined Aug 2024 · reappointed Aug 2024 · 26 months as independent · 1 listed board · 1 as independent
  • Kaarshan S AwatramaniIndependent · joined Aug 2024 · reappointed Aug 2024 · 26 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Anjali ModyNon-executive · joined Feb 2020 · 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.

Committees and meetings

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

  • Board

    • 12 Aug 20265 of 7 present2 independent · 76 days in between
    • 27 May 20266 of 7 present4 independent

  • Audit Committee

    Chair Darius Khushroo Khambatta

    Ram Hemant Shroff, Kaarshan S Awatramani, Aurobind Ashabhai Patel

    • 12 Aug 20263 of 4 present2 independent · 76 days in between
    • 27 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Darius Khushroo Khambatta

    Jaydev Mukund Mody, Aurobind Ashabhai Patel

    • 10 Aug 20262 of 3 present1 independent

  • Stakeholders Relationship Committee

    Chair Darius Khushroo Khambatta

    Ram Hemant Shroff, Kaarshan S Awatramani

    • 7 Sep 20262 of 3 present1 independent · 37 days in between
    • 31 Jul 20262 of 3 present1 independent

  • Risk Management Committee

    Chair Ram Hemant Shroff

    Darius Khushroo Khambatta, Kaarshan S Awatramani

    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.

  • M H S & AssociatesPeer-review certificate valid to Sep 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.

Delta Manufacturing 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, 30 Sep 2026

11,768 shareholders on the register on 23 Sep 2026; present: 11 promoters and 28 others; votes counted by Ashish Kumar Jain / A. K. Jain & Co..The company's voting result

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2026 together with the reports of the board of directors and the auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 73.86% · promoters 99.99% · institutions 0.00% · other public 6.29%

  2. To appoint a director in place of Mr. Jaydev Mody (DIN: 00234797), who retires by rotation and being eligible offers himself for re-appointment.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 73.86% · promoters 99.99% · institutions 0.00% · other public 6.29%

  3. To approve the continuation of Mr. Aurobind Patel (DIN: 00016628) as Non-Executive, Independent Director of the Company after attaining the age of 75 years, pursuant to Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.MoreLess
    Special
    99.99% for0.01% against

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

    Turnout: all 73.86% · promoters 99.99% · institutions 0.00% · other public 6.29%

  4. To Approve Material Related Party Transactions with MMG Ferrites Private Limited (MFPL).
    OrdinaryPromoters have an interest in it
    99.60% for0.40% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 1.75% · promoters 0.00% · institutions 0.00% · other public 6.29%

  5. To Approve Material Related Party Transactions with Myra Mall Management Company Private Limited (MMMCPL).
    OrdinaryPromoters have an interest in it
    99.60% for0.40% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 1.75% · promoters 0.00% · institutions 0.00% · other public 6.29%

  6. Revision in Remuneration of Dr. Ram H. Shroff (DIN No. 00004865), Managing Director and Executive Vice Chairman of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 73.69% · promoters 99.76% · institutions 0.00% · 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, 25 Mar 2026, 1 resolution

11,948 shareholders on the register on 18 Mar 2026; present: 11 promoters and 29 others; votes counted by Ashish Jain / A K Jain & Co.The company's voting result

  1. TO APPROVE MATERIAL RELATED PARTY TRANSACTIONS WITH MMG FERRITES PRIVATE LIMITED.
    OrdinaryPromoters have an interest in it
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 2.00% · promoters 0.00% · institutions 0.00% · other public 7.18%

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

Annual general meeting, 29 Sep 2025, 5 resolutions

12,476 shareholders on the register on 22 Sep 2025; present: 11 promoters and 35 others; votes counted by Jinesh Damji Dedhia / M/s Jinesh Dedhia & Associates.The company's voting result

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2025 together with the reports of the board of directors and the auditors thereon.MoreLess
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.03%

    Turnout: all 72.23% · promoters 99.99% · institutions 0.00% · other public 0.45%

  2. To appoint a director in place of Ms. Anjali Mody (DIN: 02784924), who retires by rotation and being eligible offers herself for re-appointment.
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.03%

    Turnout: all 72.23% · promoters 99.99% · institutions 0.00% · other public 0.45%

  3. Appintment of Secretarial Auditor
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.03%

    Turnout: all 72.23% · promoters 99.99% · institutions 0.00% · other public 0.45%

  4. Re-appointment of Dr. Ram H. Shroff (DIN:00004865), As the Managing Director and Executive Vice-Chairman of the Company for a period of 3 years and fix his remuneration
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.03%

    Turnout: all 72.23% · promoters 99.99% · institutions 0.00% · other public 0.45%

  5. Approval to advance any loan /give guaratntee/provide security under section 185 of the Companies Act, 2013
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.03%

    Turnout: all 72.23% · promoters 99.99% · institutions 0.00% · other public 0.45%

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, 22 Jan 2025, 3 resolutions

12,347 shareholders on the register on 15 Jan 2025; present: 12 promoters and 38 others; votes counted by Ashish Jain / A K Jain & Co.The company's voting result

  1. TO APPROVE TRANSFER OF THE SOFT FERRITES UNDERTAKING OF THE COMPANY TO MMG FERRITES PRIVATE LIMITED AND EXECUTION OF BUSINESS TRANSFER AGREEMENT
    SpecialPromoters have an interest in it
    99.98% for0.02% against

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

    Turnout: all 2.61% · promoters 0.00% · institutions 0.00% · other public 9.41%

  2. TO APPROVE DISPOSAL OF 50% SHAREHOLDING OF THE COMPANY IN ITS MATERIAL SUBSIDIARY, MMG FERRITES PRIVATE LIMITED
    Special
    100.00% for0.00% against

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

    Turnout: all 74.72% · promoters 99.99% · institutions 0.00% · other public 9.41%

  3. TO APPROVE EXECUTION OF LOAN AGREEMENT BETWEEN MMG FERRITES PRIVATE LIMITED AND MYRA MALL MANAGEMENT COMPANY PRIVATE LIMITED
    SpecialPromoters have an interest in it
    99.98% for0.02% against

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

    Turnout: all 2.61% · promoters 0.00% · institutions 0.00% · other public 9.41%

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, 20 Sep 2024, 7 resolutions

Present: 12 promoters and 33 others.

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2024 together with the reports of the board of directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.35%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

  2. To appoint a Director in place of Dr. Ram H. Shroff (DIN: 00004865), who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.08%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

  3. Approval for continuation of Mr. Jaydev Mody (DIN: 00234797), as Non-Executive Non-Independent Director and Chairman of the Company.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.08%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

  4. Appointment of Mr. Jehangir Aibara (DIN: 07410962) as an Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.81%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

  5. Appointment of Mr. Kaarshan Awatramani (DIN: 07452902) as an Independent Director of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.81%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

  6. Appointment of Mr. Aurobind Patel (DIN: 00016628) as an Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.08%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

  7. Re-appointment of Mr. Darius Khambatta (DIN: 00520338) as an Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.08%

    Turnout: all 72.16% · promoters 100.00% · institutions 0.00% · other public 0.15%

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.

Annual general meeting, 14 Sep 2023, 3 resolutions

Present: 13 promoters and 35 others.

  1. Adoption of the Audited Financial Statements (including the Consolidated Financial Statements) for the Financial Year ended 31st March, 2023 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.45%

    Turnout: all 72.12% · promoters 100.00% · institutions 0.00% · other public 0.14%

  2. Re-appointment of Ms. Anjali Mody (DIN:02784924) as a Director, retiring by rotation.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 10.90%

    Turnout: all 72.12% · promoters 100.00% · institutions 0.00% · other public 0.14%

  3. Re-appointment of M/s. M H S & Associates, Chartered Accountants as Statutory Auditors of the Company for second term.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.45%

    Turnout: all 72.12% · promoters 100.00% · institutions 0.00% · other public 0.14%

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

Annual general meeting, 29 Sep 2022, 3 resolutions

Present: 11 promoters and 28 others.

  1. Adoption of the audited standalone & consolidated financial statements for the financial year ended March 31, 2022 together with the reports of Board of Directors and the Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.66% · promoters 99.98% · institutions 0.00% · other public 0.65%

  2. Re-appointment of Dr. Ram H. Shroff (DIN:00004865) as Director liable to retire by rotation.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.38%

    Turnout: all 72.66% · promoters 99.98% · institutions 0.00% · other public 0.65%

  3. Re-appointment and Approval of remuneration of Dr. Ram H. Shroff (DIN:00004865) as Managing Director and Executive Vice Chairman of the Company for a period of 3 (Three) years.
    Special
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 0.00% · other public 70.62%

    Turnout: all 57.24% · promoters 78.71% · institutions 0.00% · other public 0.65%

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 2021, 2 resolutions

Present: 10 promoters and 40 others.

  1. To divest the assets, namely land of the material subsidiary of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 72.69% · promoters 99.99% · institutions 0.00% · other public 5.11%

  2. To wind up material subsidiary of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 72.69% · promoters 99.99% · institutions 0.00% · other public 5.11%

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.

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyOffice of the Deputy Commissioner of State Tax Ambad, Nashik - Maharashtra.Since 2 Jul 2026

    Notice for Scrutiny of Returns issued in Form GST ASMT-10 under Section 61 r/w rule 99 of CGST/MGST Act, 2017, seeking explanation for discrepancies noticed during scrutiny of GSTR-3B returns.

    Discrepancies related to reporting of Reverse Charge Mechanism (“RCM”) Supplies in GSTR-1 were identified during scrutiny of GSTR-3B returns for FY 2023-24, indicating an approximate amount of Rs. 1,77,170.84, subject to reconciliation and explanation by the Company.MoreLess
  • Fine or penaltyMaharashtra Industrial Development Corporation (MIDC)Since 23 Jul 2026

    Demand for recovery of GST and interest pertaining to past period.

    Pursuant to the notice received from Director General of GST intelligence, the MIDC has paid the GST and interest on the receipts in respect of various services for the period from 01.07.2017 to 04.09.2022 and the same was not collected from the Company. Therefore, MIDC is demanding the payment of GST: ₹ 4,87,368 and Interest: ₹ 1,06,713.56 Total: ₹ 5,94,081.56 (Rupees Five Lakhs Ninety-Four Thousand Eighty-One and Fifty-Six Paise Only) from the Company.MoreLess
  • Tax disputeCommissioner of Income Tax (Appeals)Since 7 Jan 2019
    Appeal order received, order giving effect to the said order is pending.
    At the filing before: Details mentioned on page no 99 of the Company's Annual Report of FY 2025-26
  • Tax disputeCommissioner of Income Tax (Appeals)Since 8 Jan 2019
    Appeal order received, order giving effect to the said order is pending.
    At the filing before: Details mentioned on page no 99 of the Company's Annual Report of FY 2025-26
  • Tax disputeCommissioner of Income Tax (Appeals)Since 8 Jan 2019
    Appeal order received, order giving effect to the said order is pending.
    At the filing before: Details mentioned on page no 99 of the Company's Annual Report of FY 2025-26
  • Tax disputeCommissioner of Income Tax (Appeals)Since 8 Jan 2019
    Appeal order received, order giving effect to the said order is pending.
    At the filing before: Details mentioned on page no 99 of the Company's Annual Report of FY 2025-26
  • Tax disputeCommissioner of Income Tax (Appeals)Since 2 Jan 2019
    Next date still not received
    At the filing before: Details mentioned on page no 99 of the Company's Annual Report of FY 2025-26
  • Tax disputeCommissioner of Income Tax (Appeals)Since 19 Apr 2024
    Next date still not received
    At the filing before: Details mentioned on page no 99 of the Company's Annual Report of FY 2025-26

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
00Dec 2410Mar 2501Jun 2511Sep 2522Dec 2500Mar 2600Jun 2600Sep 26

Open at the quarter's end

0Dec 241Mar 250Jun 250Sep 250Dec 250Mar 260Jun 260Sep 26
At most 1 complaint open, quarter to Mar 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
No
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.