Meeting Details

The 7th Annual General Meeting of Hitachi Energy India Limited was held on Friday, August 28, 2026, at 11:00 AM IST at Sheraton Grand Bangalore Hotel at Brigade Gateway, 26/1 Dr. Rajkumar Road, Malleswaram-Rajajinagar, Bengaluru - 560 055.

The meeting commenced at 11:00 AM IST and concluded at 1:40 PM IST, lasting 2 hours and 40 minutes.

Attendance

Directors Present:

  • Mr. Ismo Antero Haka (Chairman and Non-Executive Director) - attended in person
  • Mr. Nuguri Venu (Managing Director and Chief Executive Officer) - attended in person
  • Mr. Jan Niklas Persson (Non-Executive Director) - attended in person
  • Ms. Akila Krishnakumar (Non-Executive Independent Director) - attended in person
  • Ms. Meena Ganesh (Non-Executive Independent Director) - attended in person
  • Mr. Mukesh Hari Butani (Non-Executive Independent Director) - attended virtually from New Delhi

Other Attendees:

  • Mr. Ajay Singh (Chief Financial Officer)
  • Mr. Poovanna Ammatanda (General Counsel, Company Secretary and Compliance Officer)
  • Mr. Pramod S. M. (Scrutinizer for e-voting process, Practicing Company Secretary)
  • Mr. Sandeep Karnani (Representative of S.R. Batliboi & Associates LLP, Statutory Auditors) - represented by Mr. Sachin S Bochageri in person
  • Mrs. Shobha Shridhar (Partner of V. Sreedharan & Associates, Secretarial Auditors for FY25-26)
  • Mr. Ashwin Solanki (Representative of M/s. Ashwin Solanki & Associates, Cost Auditors) - attended virtually

Shareholder Participation:

  • 170 members attended in person (including 3 proxy holders holding 256 equity shares representing 0.0006% and 1 authorized representative of Hitachi Energy Ltd. holding 3,17,86,256 equity shares representing 71.31%)
  • 17 public shareholders attended through video conferencing
  • Total shareholders on record date (August 21, 2026): 1,09,937

Voting Process

The company provided remote e-voting and InstaPoll voting facilities. Remote e-voting commenced on Monday, August 24, 2026, at 09:00 AM IST and concluded on Thursday, August 27, 2026, at 05:00 PM IST.

Mr. Pramod S. M. (Membership No. FCS 7834/CP No. PCS 13784), Practicing Company Secretary, was appointed as Scrutinizer to scrutinize the e-voting process.

Resolutions and Voting Results

All five resolutions proposed in the AGM notice dated July 17, 2026, were passed with requisite majority:

1. Adoption of Financial Statements (Ordinary Resolution)

  • Total votes polled: 3,82,52,070 shares (85.8202% of outstanding shares)
  • Votes in favor: 3,82,52,014 shares (99.9999% of votes polled)
  • Votes against: 56 shares (0.0001% of votes polled)

2. Declaration of Dividend (Ordinary Resolution)

  • Total votes polled: 3,82,69,332 shares (85.8348% of outstanding shares)
  • Votes in favor: 3,82,67,551 shares (99.9995% of votes polled)
  • Votes against: 1,781 shares (0.0005% of votes polled)

3. Re-appointment of Mr. Ismo Antero Haka (Ordinary Resolution)

  • Total votes polled: 3,82,58,305 shares (85.8341% of outstanding shares)
  • Votes in favor: 3,80,52,497 shares (99.4621% of votes polled)
  • Votes against: 2,05,808 shares (0.5379% of votes polled)

4. Ratification of Cost Auditors' Remuneration (Ordinary Resolution)

  • Total votes polled: 3,82,55,353 shares (85.8275% of outstanding shares)
  • Votes in favor: 3,82,55,289 shares (99.9998% of votes polled)
  • Votes against: 64 shares (0.0002% of votes polled)

5. Participation in Hitachi Group ESPP and RSU Plans (Special Resolution)

  • Total votes polled: 3,82,48,353 shares (85.8118% of outstanding shares)
  • Votes in favor: 3,51,17,221 shares (91.8137% of votes polled)
  • Votes against: 31,31,132 shares (8.1863% of votes polled)

Key Business Updates from Chairman's Speech

Financial Commitments:

  • Total capital expenditure commitment: ₹4,000 crores
  • Includes new greenfield large power transformer facility in Karjan, Vadodara, Gujarat
  • Qualified Institutional Placement (QIP) completed in March 2025 raising approximately ₹2,521 crore

Operational Performance:

  • 74% reduction in Scope 1 and Scope 2 GHG emissions compared to 2019 baseline
  • 82% reduction in waste sent to landfill or incineration
  • 99% waste recycling rate during the year
  • Halol facility received Water Positive certification
  • Halol and Mysore facilities attained Platinum-level Zero Waste to Landfill certification
  • Total Recordable Injury Frequency Rate of 0.11

Business Focus Areas:

  • Five business units: Grid Automation, Grid Integration, Transformers, High Voltage Products, and Service
  • Key growth segments: Renewables, HVDC, Data Centers, Electrification (railways, metro, EV infrastructure), Industry
  • Growth drivers: Services, Exports, and Digitalization

CSR Initiatives:

  • 'Women in Engineering' program supporting 250 girl students (planned expansion to 500)
  • Developed 21 smart classrooms with 51 kW solar power installations benefiting 5,400+ students
  • Planted 66,000+ saplings across various locations
  • Specific plantation projects in Bengaluru (18,000+ saplings) and Vadodara (16,900+ saplings)

Documents Submitted

  • Summary of proceedings of the 7th AGM
  • Copy of Chairman's speech
  • Consolidated voting results of remote e-voting and InstaPoll voting
  • Report of the Scrutinizer dated August 28, 2026