Bharat Heavy Electricals Limited

Meeting Details

The 62nd AGM will be held on Wednesday, August 5, 2026 at 10:00 AM IST through Video Conferencing/Other Audio Visual Means (VC) without physical attendance of members. The deemed venue is the registered office of the Company at BHEL House, Siri Fort, New Delhi-110049.

Agenda Items

Ordinary Business:

1. Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026 with Board's Report and Auditors' Report

2. Approval and declaration of dividend for financial year 2025-26

3. Re-appointment of Shri Rajesh Kumar Dwivedi (DIN: 10048893) who retires by rotation

4. Re-appointment of Shri Serugulathur Mahadevan Ramanathan (DIN: 11084884) who retires by rotation

5. Authorization to Board of Directors to fix remuneration of Auditors for FY 2026-27

Special Business:

6. Ratification of remuneration of Cost Auditors for FY 2026-27 amounting to ₹17.36 lakhs

7. Appointment of Ms. Nigar Fatima Husain (DIN: 11688785) as Director

Dividend Information

The Board has recommended a final dividend of 70% (₹1.40 per share of ₹2 each) on paid-up equity share capital for FY 2025-26. If approved, the dividend will be payable on or before September 3, 2026 to members as on Record Date of Friday, July 17, 2026. Dividend will be subject to TDS deduction as per Income Tax Act, 2025.

Unclaimed dividend for FY 2018-19 will be transferred to Investor Education and Protection Fund on October 22, 2026.

Director Appointments and Details

Shri Rajesh Kumar Dwivedi (Director - Finance & CFO):

  • Age: 58 years, appointed June 19, 2024
  • Qualifications: FCMA, MBA
  • Experience: 34 years with BHEL across financial management, business strategy
  • Shareholding: 750 shares
  • Tenure expires: January 31, 2028
  • Remuneration: Pay scale of ₹1,80,000 - ₹3,40,000 per month
  • Other directorships: Vice-Chairman of Bharat Coal Gasification & Chemicals Limited, Chairman of BHEL-GE Gas Turbine Services Pvt. Limited

Shri Serugulathur Mahadevan Ramanathan (Director - Engineering, R&D):

  • Age: 59 years, appointed April 30, 2025
  • Qualifications: B.Tech (Mechanical) from IIT Madras, M.Tech, FCMA
  • Experience: 38 years with BHEL across engineering, design, R&D
  • Shareholding: Nil
  • Tenure expires: January 31, 2027
  • Remuneration: Pay scale of ₹1,80,000 - ₹3,40,000 per month
  • Other directorships: None

Ms. Nigar Fatima Husain (Government Nominee Director):

  • Age: 58 years, appointed April 27, 2026
  • Qualifications: B.Sc (Hons) Zoology, LLB, Post-Graduation in Sociology
  • Experience: Indian Defence Estates Service Officer (1996 batch), currently Additional Secretary & Financial Advisor, Ministry of Commerce & Industry and Ministry of Heavy Industries
  • Shareholding: Nil
  • Remuneration: None (Government nominee)
  • Other directorships: H.M.T. Limited, India International Convention & Exhibition Centre Limited, MMTC Limited, The State Trading Corporation of India Limited, Invest India

Cost Auditor Remuneration Breakdown

The Board has approved remuneration for eight cost auditors/firms totaling ₹17,36,000 (exclusive of taxes and out-of-pocket expenses) for FY 2026-27:

  • M/s Dhananjay V. Joshi & Associates, Pune: ₹3,75,500 (Consolidation + HEEP Haridwar)
  • M/s R.M. Bansal & Co., Kanpur: ₹3,54,000 (HEP Bhopal + TP Jhansi + HERP Varanasi)
  • M/s Narasimha Murthy & Co., Hyderabad: ₹2,21,000 (HPEP Hyderabad)
  • M/s SBK & Associates, Chennai: ₹2,93,500 (HPBP Trichy)
  • M/s BBS & Associates, Chennai: ₹1,47,000 (BAP Ranipet)
  • M/s GSR & Associates, Bengaluru: ₹1,32,000 (SBD Bengaluru + EDN Bengaluru)
  • M/s K B Saxena & Associates, Lucknow: ₹1,55,000 (CFP Rudrapur + FSIP Jagdishpur + IVP Goindwal)
  • M/s SSPGR & Associates LLP, Visakhapatnam: ₹58,000 (HPVP Visakhapatnam)

Voting Information

Remote e-voting period: August 2, 2026 (9:00 AM) to August 4, 2026 (5:00 PM) through NSDL

Cut-off date for voting eligibility: July 29, 2026

Scrutinizer: Shri Deepak Kumar, Company Secretary (FCS no. 10189) of M/s Akhil Rohatgi & Co.

Results will be declared within two working days of meeting conclusion and posted on company website and stock exchanges.

TDS on Dividend

Dividend income is taxable and subject to TDS deduction:

  • Resident shareholders with PAN: 10% TDS
  • Resident shareholders without PAN: 20% TDS
  • Non-resident shareholders: 20% TDS (plus surcharge and cess)
  • No TDS for resident individuals if dividend ≤ ₹10,000 annually or Form 121 submitted

Documents for TDS determination must be submitted to RTA by July 21, 2026

Additional Information

  • Dividend payment will be electronic only as per SEBI Master Circular dated February 6, 2026
  • Members must update KYC details with depository participants or RTA
  • Physical share transfer requests will not be processed (must dematerialize)
  • Auditors are appointed by Comptroller and Auditor General of India