HPL Electric & Power Limited shareholders approved all four resolutions at the 34th Annual General Meeting held on September 24, 2026, including a final dividend of ₹1.00 per equity share for FY26.

The meeting, conducted via video conferencing, saw strong shareholder participation with approximately 72.8% of outstanding shares voting on key financial and governance matters. The scrutinizer’s report confirmed that each resolution received overwhelming support, passing with requisite majorities.

Meeting proceedings and attendance

The 34th AGM commenced at 11:30 am through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). A total of 137 members attended the meeting virtually. The Company Secretary welcomed shareholders and confirmed the presence of the requisite quorum before the proceedings began.

Directors and Key Management Personnel present included:

• Lalit Seth, Chairman and Whole-Time Director
• Rishi Seth, Managing Director
• Gautam Seth, Joint Managing Director and CFO
• Ajit Sood, Independent Director
• Dr. Rashmi Vij, Independent Director
• Dhruv Goyal, Independent Director
• Vivek Kumar, Company Secretary and Compliance Officer

Statutory Auditor Sakshi Kharabanda, Secretarial Auditor Vinod Gupta, and Scrutinizers Deepak Kukreja and Monika Kohli were also present via VC.

Key resolutions passed

The primary business items included the adoption of audited financial statements for the year ended March 31, 2026, and the declaration of dividends. Shareholders also ratified the remuneration of cost auditors and approved the reappointment of Rishi Seth as a director.

Voting participation details

A total of 1,21,996 shareholders were entitled to vote as of the record date, September 17, 2026. The voting process utilized remote e-voting facilities provided by KFin Technologies Limited, alongside e-voting during the meeting itself.

Promoter and promoter group members held 4,67,18,829 shares and voted 100% in favour across all resolutions. Public institutions voted in favour of all items, while public non-institutional investors showed minor dissent, particularly on the director reappointment resolution where 27.25% of their polled votes were cast against.

What the numbers show

The data reveals a distinct divergence in shareholder sentiment regarding management appointments versus routine financial approvals. While the adoption of financial statements and dividend declaration saw near-unanimous support from public non-institutional holders (over 97.9% in favour), the reappointment of Rishi Seth faced notable opposition from this same cohort. Specifically, 3,197 votes were cast against his reappointment by public non-institutional investors, representing 27.25% of their total polled votes for that item. This contrasts sharply with the negligible dissent (<0.01%) seen on other agenda items, suggesting specific concerns among minority shareholders regarding this particular directorial appointment despite the overall high approval rate driven by promoter holdings.

HPL Electric & Power has filed its Business Responsibility and Sustainability Report (BRSR) for FY26, detailing its environmental, social, and governance performance. The report outlines specific targets for greenhouse gas emissions and renewable energy adoption across its manufacturing operations.

The company reported total revenue from operations of ₹18,579.9 crore for the fiscal year. Its sustainability framework focuses on reducing carbon intensity through energy efficiency measures and expanding on-site solar generation.

Environmental Metrics and Targets

HPL Electric & Power established a baseline for its greenhouse gas emissions during FY26. The company recorded combined Scope 1 and Scope 2 emissions of 13,369.65 tCO2e. Scope 1 emissions stood at 759.47 metric tons of CO2, while Scope 2 emissions were 12,610.18 metric tons of CO2.

The entity has committed to a 7.4% reduction in Scope 1 emissions against the FY26 baseline by the close of FY27. This reduction pathway will be driven by fuel-efficiency improvements, optimization of diesel-generator running hours, and progressive electrification of on-site equipment.

Renewable energy contributed 1,030.62 GJ to the company's energy mix through on-site rooftop solar commissioned at its Gurugram facility. Total energy consumption was 66,223.96 GJ, with non-renewable sources accounting for 65,193.34 GJ. Energy intensity per rupee of turnover remained stable at 0.0000035643 GJ/INR.

Social and Governance Highlights

The company employs 1,296 permanent employees and 1,526 workers. Female representation among permanent employees is 4.01%, while female workers constitute 24.44% of the total worker base. The board includes one female director, representing 16.67% of the total board strength.

Workplace safety remains a priority, with the company reporting zero lost-time injuries and zero fatalities for both employees and workers during FY26. The occupational health and safety management system is aligned with ISO 45001:2018 standards.

In terms of human rights training, 100% of permanent employees received training on human rights issues and policies. Among workers, 10.94% of the total workforce covered under this training were permanent workers, while no non-permanent workers received such training.

What the Numbers Show

The divergence between employee and worker engagement in human rights training is notable. While all permanent employees received comprehensive training, the coverage for the larger contingent workforce—particularly non-permanent workers—remains limited. This gap suggests a potential area for future compliance strengthening as regulatory expectations for value chain disclosures evolve.