Dear Shareholders,
Your directors have pleasure in presenting the 40th Annual Report of M/S I
POWER SOLUTIONS INDIA LIMITED along with the Audited Statement of Accounts and the
Auditors' Report for the Financial Year ended March 31, 2025. The Summarized financial
results for the Financial Year are as under:
1. FINANCIAL SUMMARY: (In Lakhs)
Particulars |
31st March, 2025 |
31st March, 2024 |
Revenue from Operation |
- |
- |
Other Income |
1.59 |
0.13 |
T otal Revenue |
1.59 |
0.13 |
Finance Charges |
6.38 |
0.03 |
Profit Before Depreciation and T ax |
(61.86) |
(14.72) |
Provision for Depreciation |
- |
1.27 |
Net Profit Before Tax |
(61.86) |
(15.99) |
Provision for Tax |
0.16 |
(0.13) |
Net Profit After Tax |
(62.03) |
(15.86) |
Transfer to General Reserve |
- |
- |
Surplus/(Deficit) carried to Balance Sheet |
(62.03) |
(15.86) |
2. PERFORMANCE AND STATE OF AFFAIRS OF THE COMPANY:
During the year under review, the Company has incurred net loss of Rs. (62.03) Lakhs.
The previous year net loss was Rs. (15.86) lakhs. There are no changes in the
operations of business of the company. During the year under review there was no revenue
from the operations of the Company.
3. SHARE CAPITAL:
The present paid up share capital of the company is Rs 4,44,90,000.
There are no changes in the share capital of the company during the financial year
2024-25.
However, for the period between April 2025-August 2025, the company has made
preferential allotment of 14,50,000 (Fourteen Lakhs Fifty Thousand) Equity Shares, having
face value of Rs.10/-(Rupees Ten Only) each at an issue price of Rs.20/- (including
premium of Rs.10/-) (Rupees Ten Only) aggregating to ^ 2,90,00,000/- both listing and
trading approval has been received for the said equity shares.
4. DIVIDEND:
The Board of Directors did not recommend any dividend to the Shareholders for the
financial year 2024-25.
5. DEPOSITS FROM PUBLIC:
The Company has not accepted any deposits from public and as such, no amount on account
of principal or interest and deposits from public was outstanding as on date of the
balance sheet.
6. TRANSFER TO GENERAL RESERVE:
No transfer to General Reserve was made during the Year 2024-25 by the Company.
7. NUMBER OF MEETINGS OF THE BOARD AND BOARDS' COMMITTEE:
The Board meets at regular intervals to discuss and decide on business strategies /
policies and review the financial performance of the Company. The Board Meetings are
pre-scheduled, and a tentative annual calendar of the Board is circulated to the Directors
well in advance to facilitate the Directors to plan their schedules.
Meeting |
No. of Meetings during the Financial Year 2024-25 |
Date of the Meeting |
Board Meeting |
6 |
09-05-2024, 12-08-2024, 23-08-2024, 30-08-2024, 12-11-2024, 11-02-2025 |
Audit Committee |
4 |
09-05-2024, 12-08-2024, 23-08-2024, 12-11-2024,
11-02-2025 |
Nomination & Remuneration Committee |
1 |
30-08-2024 |
Stakeholders Relationship Committee |
1 |
23-08-2024 |
Independent Director's Meeting |
1 |
07-11-2024 |
The interval between two Board Meetings was well within the maximum period mentioned
under Section 173 of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
8. COMPOSITION OF COMMITTEES OF THE BOARD Audit committee
• Punukollu Kodanda Rambabu - Independent Director (Chairman)
• Naresh Kumar Bhatt - Independent Director
• Sujata Jonnavittula - Independent Director
• Rajendra Naniwadekar - Promoter; Director
Nomination Remuneration committee
• Punukollu Kodanda Rambabu - Independent Director
• Naresh Kumar Bhatt - Independent Director (Chairman)
• Sujata Jonnavittula - Independent Director
Stakeholders Relationship committee
• Punukollu Kodanda Rambabu - Independent Director
• Naresh Kumar Bhatt - Independent Director (Chairman)
• Sujata Jonnavittula - Independent Director
• Venugopalan Parandhaman - Director
9. DETAILS OF POLICIES DEVELOPED BY THE COMPANY:
The Company has the following policies which are applicable as per the Companies Act,
2013 and SEBI (LODR) Regulations, 2015 which are placed on the website of the Company
www.ipwrs.com
(i) Code of conduct for Directors and Senior Management
(ii) Criteria of Making Payments to Non-Executive Directors
(iii) Policy Determining Materiality Disclosures
(iv) Nomination & Remuneration Committee Policy
(iv) Policy on Related Party Transactions
(v) Policy on sexual harassment of women at work place (Prevention, Prohibition and
redressal) Act, 2013
(vi) Risk Management Policy
(vii) Vigil Mechanism Policy
10. NOMINATION AND REMUNERATION POLICY:
Pursuant to Section 178(3) of the Companies Act, 2013, the Board of Directors has
framed a policy which lays down a framework in relation to remuneration of Directors, Key
Managerial Personnel and Senior Management of the company. The policy also lays down the
criteria for selection and appointment of Board Members. The policy and details of
Nomination and Remuneration is available on the website of the Company at www.ipwrs.com
In accordance with the Nomination and Remuneration Policy, the Nomination and
Remuneration Committee has, inter alia, the following responsibilities:
1. The Committee had formulated the criteria for determining qualifications, positive
attributes, and independence of a director. and is available in the company website
www.ipwrs.com.The Committee shall identify persons who are qualified to become Director
and persons who may be appointed in Key Managerial and Senior Management positions in
accordance with the criteria laid down in this policy.
2. Recommend to the Board, appointment, and removal of Director, KMP and Senior
Management Personnel.
3. The Board shall carry out evaluations of the performance of every Director, KMP and
Senior Management Personnel at regular intervals (yearly).
4. The remuneration/ compensation/ commission etc. to the Managerial Personnel, KMP and
Senior Management Personnel will be determined by the Committee and recommended to the
Board for approval. The remuneration/ compensation/ commission etc. shall be subject to
the prior/ post approval of the shareholders of the Company and Central Government,
wherever required.
5. Increments to the existing remuneration/ compensation structure may be recommended
by the Committee to the Board which should be within the slabs approved by the
Shareholders in the case of Managerial Personnel.
6. Where any insurance is taken by the Company on behalf of its Managerial Personnel,
Chie Executive Officer, Chief Financial Officer, the Company Secretary, and any other
employees for indemnifying them against any liability, the premium paid on such insurance
shall not be treated as part of the remuneration payable to any such personnel. Provided
that if such person is proved to be guilty, the premium paid on such insurance shall be
treated as part of the remuneration.
7. The Non-Executive/ Independent Director is not paid remuneration by way of fees for
attending meetings of the Board or Committee thereof.
8. Commission to Non-Executive/ Independent Directors If proposed may be paid within
the monetary limit approved by shareholders, subject to the limit not exceeding 1% of the
net profits of the Company computed as per the applicable provisions of the Companies Act,
2013.
11. MATERIAL CHANGE AND COMMITMENTS OF THE COMPANY:
There were no material changes and commitments affecting the financial position of the
company which have occurred between the end of the financial year of the company to which
the financial statements relate and the date of the report
12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
The Company has made investments in quoted securities amounting to ^1,37,09,113. All
requisite approvals under Section 186 of the Companies Act, 2013 have been duly obtained,
and the necessary filings have been made with the regulatory authorities.
13. SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES:
The Company has no subsidiaries/ associate companies/ joint ventures.
14. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:
Company Secretary and Chief Financial Officer
Mr. P.K. Raghukumar |
Company Secretary |
Mr. Suresh Srinivasan |
Chief Financial Officer |
15. Director's / Key Managerial personnal Appointment/Re-appointment:
• Appointment of a director in place of Mr. Rajendra Naniwadekar (having DIN
00032107) who retires from office by rotation and being eligible offers herself for
reappointment.
16. BOARD DIVERSITY:
Since the Company falls under the exempted category as provided under Regulation 15 of
Securities Exchange Board of India (Listing Obligation and Disclosure Requirements)
Regulation, 2015 disclosure on Board diversity is not applicable.
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Mr. Rajendra Naniwadekar |
Managing Director |
Mr. Venugopalan Parandhaman |
Executive Director |
Mr. Punukollu Kodanda Rambabu |
Independent Director |
Mr. Naresh Kumar Bhatt |
Independent Director |
Mr. Sujata Jonnavittula |
Women Independent Director |
17. PARTICULARS OF EMPLOYEES:
There are no employees falling within the provisions of section 197 of the Companies
Act, 2013 read with Rule 5(2) and 5(3) of The Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014
18. AUDITORS:
M/s. ANANT RAO & MALLIK, Chartered Accountants, Hyderabad (Firm Registration No
006266 S) has been appointed as the statutory Auditor of the company .
M/s. ANANT RAO & MALLIK, Chartered Accountants, Hyderabad will continue as the
statutory Auditor of the company till the 42nd Annual General Meeting.
19. AUDITORS' REPORT:
There are no qualifications, reservations or adverse remarks made by Statutory Auditors
in their report for the Financial Year ended 31st March, 2025.
20. SECRETARIAL AUDITOR:
Pursuant to the requirements of Section 204 (1) of the Companies Act, 2013 and Rule 9
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the
Board has appointed Secretarial Auditor for the financial year 2024-25.
The Secretarial Audit Report as received from Secretarial Auditor is annexed to this
report as Annexure-I.
21. QUALIFICATION GIVEN BY SECRETARIAL AUDITOR:
There are no material qualifications in the Secretarial Audit Report except as given in
the report and board provides its comments on the following observation:
1. There was a minor delay in one instance of filing of Form No. MGT-14 with the
Ministry of Corporate Affairs/Registrar of Companies (MCA/ROC); however, the form was
subsequently filed along with the prescribed additional fees.
> The Board takes note of the delay in filing of Form MGT-14. The delay was
inadvertent and not intentional. The Company has already filed the form with the MCA/ROC
along with the prescribed additional fees, and necessary internal checks have been
strengthened to ensure that all future filings are made within the prescribed timelines.
2. The Company maintains a functional website; however, it is observed that the website
is not fully compliant with the requirements of Regulation 46 of the SEBI (LODR)
Regulations, 2015 and the applicable provisions of the Companies Act, 2013.
25
> The Board acknowledges the observation regarding website compliance. The Company
has initiated steps to identify and update the missing/incomplete information on the
website to bring it into full compliance with Regulation 46 of the SEBI (LODR)
Regulations, 2015 and the Companies Act, 2013. The Company Secretary has been instructed
to monitor the website on a regular basis to ensure continued compliance.
3. The submission of the outcome of the Board Meeting held on 23rd August, 2024, to the
stock exchange was slightly delayed due to a technical issue.
> The Board notes that the delay was due to a technical issue and not due to any
lapse on the part of the Company. However, recognizing the importance of timely
disclosure, the Company has put in place alternative mechanisms, including back-up
systems, to minimize the risk of recurrence of such delays in the future.
22. REPORTING OF FRAUDS BY AUDITORS:
During the year under review, neither the Statutory Auditors nor the Secretarial
Auditor has reported to the Audit Committee under Section 143 (12) of the Companies Act,
2013, any instances of fraud committed against the Company by its officers or employees.
23. INTERNAL AUDITORS
Mr. V.R. SRIDHARAN, Chartered Accountants, are the Internal Auditors of the Company.
The Audit Committee determines the scope of internal Audit in line with regulatory and
business requirements.
24. COST AUDITOR:
Since the Company has no manufacturing activity at present, and the provisions of
Appointment of Cost Auditor pursuant to the Companies Act, 2013 is not applicable, No Cost
Auditor has been appointed by the Company during the year.
Details of cost audit are not provided as the commercial operations are very limited
and no cost audit is undertaken.
25. INTERNAL CONTROL AND ITS ADEQUACY:
The Company has formulated a Framework on Internal Financial Controls In accordance
with Rule 8 (5) (viii) of Companies (Accounts) Rules, 2014, the Company has adequate
internal control systems to monitor business processes, financial reporting and compliance
with applicable regulations and they are operating effectively.
The systems are periodically reviewed by the Audit Committee of the Board for
identification of deficiencies and necessary time-bound actions are taken to improve
efficiency at all the levels. The Committee also reviews the observations forming part of
internal auditors' report, key issues and areas of improvement, significant processes and
accounting policies.
26
26. CORPORATE GOVERNANCE REPORT:
Since your Company's paid-up Equity Capital, and Net worth is less than Rs. 10 Crores
and Rs. 25 Crores respectively, the provisions of SEBI (LODR), 2015 relating to Corporate
Governance, is not applicable to the Company.
27. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:
There are no significant material orders passed by the Regulators / Courts which would
impact the going concern status of the Company and its future operations
28. SEPARATE MEETING OF THE INDEPENDENT DIRECTORS:
As required under Clause VII of Schedule IV of the Companies Act, 2013, the Independent
Directors held a Meeting on 07th November 2024, without the attendance of
Non-Independent Directors and members of Management.
29. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS:
The familiarization program is to update the Directors on the roles, responsibilities,
rights and duties under the Act and other statutes and about the overall functioning and
performance of the Company. The policy and details of familiarization program is available
on the website of the Company at www.ipwrs.com
30. INDEPENDENT DIRECTOR'S DECLARATION:
All Independent Directors have given declarations that they meet the Criteria of
independence laid down under Section 149 of the Companies Act, 2013 and Securities and
Exchange Board of India (Listing Obligations and Disclosure requirements) Regulations,
2015 in respect of financial year ended 31st March, 2025, which has been relied on by the
Company and placed at the Board Meeting
31. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
Pursuant to Regulation 34 (2) (e) of SEBI (LODR) Regulations, 2015, a report on
Management Discussion & Analysis is herewith annexed as Annexure-II.
32. HUMAN RESOURCES:
The Management envisions trained and motivated employees as the backbone of the
Company. Special attention is given to recruit trained and experienced personnel not only
in the production department but also in marketing finance and accounts. The management
strives to retain and improve employee's morale. The Company is in the process of
revamping the employer employee engagement program.
33. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO:
The Company informs that the disclosure of particulars under section 134(3)(m) of the
Companies act, 2013 read with Rule 8 (3) of Companies (Accounts) Rules, 2014 relating to
conservation of Energy etc is not applicable to the Company as no energy intensive works
are undertaken by the company.
Particulars relating to Technology Absorption etc., have not been furnished as the
Company has neither undertaken any Research & Development activities in the Field of
operations nor imported any technology thereto.
In respect of Foreign Exchange earnings and outgo (in US$), details are given below:
Foreign Exchange Earnings: US$ - Nil / INR - Nil Foreign Exchange Outgo: US$ - Nil
34. RELATED PARTY TRANSACTIONS:
There are no related party transactions during the financial year under review under
section 188 of the Companies Act 2013 except as mentioned in note number 21 of Audited
Financial Statements and form AOC-2 as Annexure III.
35. EXTRACT OF ANNUAL RETURN:
The Submission of Extract of Annual Return in MGT-9 is dispensed with in terms of
Companies (Management and Administration) Amendment rules, 2021 dated 5th
March, 2021. Hence, the question of attaching MGT-9 with this report does not arise.
However, the Annual return can be viewed in the website of the company www.ipwrs.com.
36. SECRETARIAL STANDARDS:
The Company has complied with the secretarial standards issued by the Institute of
Company Secretaries of India, to the extent as applicable.
37. RISK MANAGEMENT POLICY:
The Company has well defined Risk Management Policy in place. The fact that the Risks
and opportunities are inevitably intertwined, is well recognized policy by the Company and
thus aims to identify, manage and minimize, risks, strategically. It is committed to
embedding risk management throughout the organization and its systems and controls are
designed to ensure that exposure to significant risk is properly managed. With the
predefined risk management principles and policy, the Company identifies, categorizes,
assess and addresses risks.
Key Elements of Risks:
(i) Global Economic Situation: The Economic environment around the world is showing
sign of growth. Growth in the software industry has been fairly positive.
(ii) Cost pressure: Increasing operating cost may create a pressure on margin. The
Company is focusing to put up framework for cost management.
(iii) Regulatory risks: Any Change in regulations in the field of our operations, would
have an impact on the operations. The Company is vigilant on such changes for easy
adaptability.
(iv) Emerging Trend: New technologies and trends used in software industry may impact
consumers' behavior. The Company continuously scan business environment for early
detection of emerging trend.
38. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE ["POSH”]:
The Company has adopted a policy for prevention of sexual harassment at the workplace,
in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 (“POSH Act”). An Internal Complaints
Committee (“ICC”) has been duly constituted as per the provisions of the POSH
Act to redress complaints regarding sexual harassment at the workplace.
During the financial year under review, the Company has complied with all the
provisions of the POSH Act and the rules framed thereunder. Further details are as follow:
A Number of complaints of Sexual Harassment received in the Year |
NIL |
B Number of Complaints disposed off during the year |
NIL |
C Number of cases pending for more than ninety days |
NIL |
39. INTERNAL COMPLAINTS COMMITTEE:
The Company has zero tolerance for sexual harassment at workplace and has adopted a
Policy on Prevention, Prohibition and Redressal of Sexual Harassment at workplace in line
with the provisions of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and Rules framed thereunder. Internal Complaints
Committee (“ICC”) is in place for all works and offices of the Company to
redress complaints received regarding sexual harassment. The policy on Prohibition
Prevention & Redressal of Sexual Harassment is available on the website of the Company
at www.ipwrs.com
During the Financial Year under review, no complaints with allegation of sexual
harassment were filed with the ICC.
Internal Complaint Committee Members:
1. Mr. Sujata Jonnavittula
2. Mr. Venugopalan Parandhaman
40. BOARD EVALUATION
Pursuant to the provision of the Companies Act, 2013, a structured questionnaire was
prepared after taking into consideration of the various aspects of the Boards'
functioning, the composition of the Board and its committees, culture, execution and
performance of specific duties, obligations, and governance.
The board and the committee were evaluated on various criteria as stated below:
1. Composition of the Board and Committee.
2. Understanding of the Company and its business by the Board.
3. Availability of information to the board and committee.
4. Effective Conduct of Board and Committee Meetings.
6. Monitoring by the Board management effectiveness in implementing strategies,
managing risks and achieving the goals.
The Board also carried out the evaluation of directors and chairman based on following
criteria:
1. Attendance of meetings.
2. Understanding and knowledge of the entity.
3. Maintaining Confidentiality of board discussion.
4. Contribution to the board by active participation.
5. Maintaining independent judgment in the decisions of the Board
41. CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT:
The Board of Directors has adopted a policy and procedure on Code of Conduct for the
Board Members and employees of the Company in accordance with the SEBI (Prohibition of
Insiders Trading) Regulations, 2015. This Code helps the Company to maintain the Standard
of Business Ethics and ensure compliance with the legal requirements of the Company.
The Code is aimed at preventing any wrong doing and promoting ethical conduct at the
Board and by employees. The Compliance Officer is responsible to ensure adherence to the
Code by all concerned.
The Code lays down the standard of Conduct which is expected to be followed by the
Directors and the designated employees in their business dealings and in particular on
matters relating to integrity in the workplace, in business practices and in dealing with
stakeholders.
All the Board Members and the Senior Management Personnel have confirmed Compliance
with the Code.
42. CORPORATE SOCIAL RESPONSIBILITY (CSR):
Pursuant to section 135 of the Companies Act, 2013, every company having net worth of
Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or a net profit of Rs. 5
crore or more during
the financial year shall constitute a CSR Committee. Our Company has not triggered any
of the above limits; hence, no committee in this has been constituted.
43. DIRECTORS' RESPONSIBILITY STATEMENT
In pursuance of section 134 (5) of the Companies Act, 2013, the Directors hereby
confirm that:
(a) in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;
(b) the directors had selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the company at the end of the financial year and of
the profit and loss of the company for that period;
(c) the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern basis; and
(e) the directors, had laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and were operating
effectively.
(f) the directors had devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and operating effectively
44. DISCLOSURE REQUIREMENTS:
The Company has devised proper systems to ensure compliance with the provisions of all
applicable Secretarial Standards issued by the Institute of Company Secretaries of India
and is of the view that such systems are adequate and operating effectively.
45. LISTING WITH STOCK EXCHANGES:
Shares of the Company are listed on BSE and the Company confirms that it has paid the
Annual Listing Fees for the year 2024-25.
46. CLOSURE OF REGISTER OF MEMBERS AND SHARE TRANSFER BOOKS:
The Register of Members and Share T ransfer books of the company were closed with
effect from Friday, 20th September 2024 to Thursday, 26th September 2024 (Both days
inclusive) .
47. RATIO OF REMUNERATION TO EACH DIRECTOR:
At present Directors are not receiving any remuneration from the company in view of the
Financial constraints.
48. VIGIL MECHANISM:
Pursuant to Section 177(9) of the Companies Act, 2013, your Company has established a
Vigil Mechanism policy for directors and employees to report concerns about unethical
behaviours, actual or suspected fraud, violations of Code of Conduct of the Company etc.
The mechanism also provides for adequate safeguards against the victimization of employees
who avail themselves of the mechanism and also provides for direct access by the Whistle
Blower to the Audit Committee. It is affirmed that during the Financial Year 2024-25, no
employee has been denied access to the Audit Committee. The vigil mechanism policy is also
available on the Company's website www.ipwrs.com
49. APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY
CODE, 2016 DURING THE YEAR:
There were no applications made nor any proceeding pending under the insolvency and
bankruptcy code, 2016 during the year
50. MAJOR THINGS HAPPENED DURING THE YEAR WHICH MADE THE IMPACT ON THE OVERALL WORKINGS
OF THE COMPANY & THE MAJOR ACTIONS TAKEN BY THE COMPANY IN THAT RESPECT, SUCH AS
COVID-19 PANDEMIC:
Nil
51. THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE
TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF:
During the year under review there was no instance of one-time settlement with any Bank
or Financial Institution.
52. MATERNITY BENEFIT
The Company affirms that it has duly complied with all provisions of the Maternity
Benefit Act, 1961, and has extended all statutory benefits to eligible women employees
during the year.
53. ACKNOWLEDGEMENT:
Your directors thank and acknowledge the continuous co-operation and assistance
extended by Bank of Maharashtra, Indian Bank, BSE Limited, Cameo Corporate Services Ltd.,
our employees and the various customers who are patronizing our products.
54. CAUTIONARY STATEMENT:
The statements contained in the Board's Report and Management Discussion and Analysis
Report contain certain statements relating to the future and therefore are forward looking
within the meaning of applicable securities, laws and regulations. Various factors such as
economic conditions, changes in government regulations, tax regime, other statues, market
forces and other associated and incidental factors may however lead to variation in actual
results.
Date: 26-08-2025 Place: Chennai |
By Order of the Board For I Power Solutions India Limited |
SD/- VENUGOPALAN
PARANDHAMAN
Director DIN: 00323551 |
SD/- Rajendra Naniwadekar
Managing Director
DIN:00032107 |
|