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ACC MD, chairman, board of directors and AGM

NSE: ACCBSE: 500410Cement & Cement ProductsSmall Cap

Formerly Associated Cement Co.
Last close ₹1,159.40down ₹27.50 (2.32%)BSE ₹1,158.55

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,186.90.

52-week range of traded prices to 23 Oct 2026
₹1,123.00Low, 12 Oct 2026₹1,987.00High, 24 Nov 2025
Market cap
₹21,772 Cr282nd largest listed
P/E
11.4
P/B
1.1
Dividend yield
0.65%
ROE
9.8%
ROCE
7.3%
Debt to equity
0.00
Volume, NSE
1,03,12838.6% delivered

ACC board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonKaran AdaniRelated to the promoter
  • Company Secretary and Compliance OfficerMr. Bhavik Parikh

7 directors4 independent1 executive2 non-executive

  • Karan Adani · ChairpersonNon-executive · joined Sep 2022 · reappointed Sep 2022 · 3 listed boards · 1 committee seat
  • Vinay PrakashNon-executive · joined Sep 2022 · reappointed Sep 2022 · 2 listed boards
  • Sandeep SinghiIndependent · joined Sep 2022 · reappointed Sep 2025 · 45 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
  • Nitin ShuklaIndependent · joined Sep 2022 · reappointed Sep 2025 · 45 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 1 as chair
  • Rajeev AgarwalIndependent · joined Sep 2022 · reappointed Sep 2025 · 45 months as independent · 5 listed boards · 5 as independent · 9 committee seats, 4 as chair
  • Vinod BahetyExecutive · joined Apr 2025 · reappointed Apr 2025 · 3 listed boards · 2 committee seats
  • Shruti ShahIndependent · joined Dec 2025 · reappointed Feb 2026 · 7 months as independent · 6 listed boards · 6 as independent · 7 committee seats, 2 as chair

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.

3 directors who left
  • Ameera Shah, left 2 Dec 2025: Tenure Completion
  • Arun Kumar Anand, left 15 Sep 2025: Tenure Completion
  • Ajay Kapur, left 31 Mar 2025: Others

Committees and meetings

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

  • Board

    • 30 Apr 20266 of 7 present4 independent · 35 days in between
    • 25 Mar 20267 of 7 present4 independent · 55 days in between
    • 28 Jan 20267 of 7 present4 independent

  • Audit Committee

    Chair Sandeep Singhi

    Rajeev Agarwal, Nitin Shukla

    • 30 Apr 20263 of 3 present3 independent · 35 days in between
    • 25 Mar 20263 of 3 present3 independent · 55 days in between
    • 28 Jan 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair Nitin Shukla

    Rajeev Agarwal, Sandeep Singhi

    • 29 Apr 20263 of 3 present3 independent · 34 days in between
    • 25 Mar 20263 of 3 present3 independent · 56 days in between
    • 27 Jan 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Rajeev Agarwal

    Sandeep Singhi, Karan Adani, Vinod Bahety

    • 29 Apr 20264 of 4 present2 independent · 91 days in between
    • 27 Jan 20264 of 4 present2 independent

  • Risk Management Committee

    Chair Nitin Shukla

    Sandeep Singhi, Vinay Prakash, Vinod Bahety

    • 29 Apr 20263 of 4 present2 independent · 91 days in between
    • 27 Jan 20264 of 4 present2 independent

  • Corporate Social Responsibility Committee

    Chair Nitin Shukla

    Rajeev Agarwal, Vinay Prakash

    • 29 Apr 20262 of 3 present2 independent · 91 days in between
    • 27 Jan 20263 of 3 present2 independent

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.

  • SRBC and Co. LLPPeer-review certificate valid to Feb 2029

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.

ACC 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.ACC dividend history

Meeting called by the tribunal, 29 Sep 2026

2,45,678 shareholders on the register on 22 Sep 2026; present: 3 promoters and 61 others; votes counted by Aniq A Kadri / NA.The company's voting result (opens in a new tab)

  1. To consider and approve the scheme of Amalgamation of ACC Limited with Ambuja Cements Limited under Section 230 to 232 and other applicable provisions of the Companies Act, 2013.
    SpecialPromoters have an interest in it
    95.52% for4.48% against

    Against: promoters 0.00% · institutions 15.18% · other public 2.30%

    Turnout: all 80.73% · promoters 100.00% · institutions 88.50% · other public 1.73%

  2. To consider and approve the scheme of Amalgamation of ACC Limited with Ambuja Cements Limited under Section 230 to 232 and other applicable provisions of the Companies Act, 2013.
    OrdinaryPromoters have an interest in it
    84.97% for15.03% against

    Against: promoters 0.00% · institutions 15.18% · other public 2.30%

    Turnout: all 24.04% · promoters 0.00% · institutions 88.50% · other public 1.73%

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, 26 Jun 2026, 5 resolutions

2,46,469 shareholders on the register on 19 Jun 2026; present: 3 promoters and 57 others; votes counted by Raimeen Maradiya / Chirag Shah and Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended on March 31, 2026 together with the Reports of the Board of Directors and Auditors’ thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 2.87%

    Turnout: all 80.74% · promoters 100.00% · institutions 88.65% · other public 0.13%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026 together with the Reports of Auditors’ thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 2.87%

    Turnout: all 80.74% · promoters 100.00% · institutions 88.65% · other public 0.13%

  3. To declare dividend on equity shares for the financial year 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.58%

    Turnout: all 80.76% · promoters 100.00% · institutions 88.75% · other public 0.13%

  4. To appoint a Director in place of Dr. Vinay Prakash (DIN: 03634648), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.56% · other public 6.19%

    Turnout: all 80.76% · promoters 100.00% · institutions 88.75% · other public 0.13%

  5. To consider and, if thought fit, approve the remuneration payable to M/s. P.M. Nanabhoy & Co., Cost Accountants, Cost Auditors of the Company, for the financial year 2026-27.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.80%

    Turnout: all 80.76% · promoters 100.00% · institutions 88.75% · other public 0.13%

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.

Postal ballot, 1 Apr 2026, 2 resolutions

2,41,429 shareholders on the register on 27 Feb 2026; votes counted by Raimeen Maradiya / Chirag Shah & Associates.The company's voting result (opens in a new tab)

  1. Approval of material related party transactions with Ambuja Cements Limited for financial year 2026-27
    OrdinaryPromoters have an interest in it
    83.70% for16.30% against

    Against: promoters 0.00% · institutions 16.31% · other public 8.53%

    Turnout: all 24.64% · promoters 0.00% · institutions 88.90% · other public 0.22%

  2. Approval of material related party transactions with Orient Cement Limited (Orient or OCL) for financial year 2026-27.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.44%

    Turnout: all 24.64% · promoters 0.00% · institutions 88.90% · other public 0.22%

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.

Postal ballot, 17 Feb 2026, 1 resolution

2,44,489 shareholders on the register on 9 Jan 2026; votes counted by Raimeen Maradiya / Chirag Shah & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Shruti Shah (DIN:08337714) as an Independent Director of the Company.
    Special
    92.53% for7.47% against

    Against: promoters 0.00% · institutions 9.51% · other public 3.28%

    Turnout: all 31.30% · promoters 11.72% · institutions 89.21% · other public 0.52%

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.

Postal ballot, 7 Nov 2025, 1 resolution

2,36,308 shareholders on the register on 3 Oct 2025; votes counted by Raimeen Maradiya / Chirag Shah & Associates.The company's voting result (opens in a new tab)

  1. To approve material related party transactions with Penna Cement Industries Limited.
    OrdinaryPromoters have an interest in it
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 0.42% · other public 38.63%

    Turnout: all 24.11% · promoters 0.00% · institutions 86.86% · other public 0.34%

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, 26 Jun 2025, 12 resolutions

2,24,021 shareholders on the register on 19 Jun 2025; present: 3 promoters and 56 others; votes counted by Raimeen Maradiya / Chirag Shah & Associates.The company's voting result (opens in a new tab)

  1. A. To receive, consider and adopt the audited financial statements of the Company for the financial year ended on March 31, 2025 together with the Reports of the Board of Directors' and Auditors' thereon. B. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on March 31, 2025 together with the report of Auditors' thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.41%

    Turnout: all 82.67% · promoters 100.00% · institutions 89.32% · other public 0.11%

  2. To declare dividend on equity shares for the Financial Year 2024-25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.53%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  3. To appoint a Director in place of Mr. Arun Kumar Anand (DIN:08964078), who retires by rotation and being eligible, offers himself for re‐appointment.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.07% · other public 4.39%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  4. To approve the appointment of M/s. Mehta & Mehta, Practicing Company Secretary as Secretarial Auditor of the Company for a first term of five (5) years.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.54%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  5. To approve the remuneration payable to M/s. P.M. Nanabhoy & Co., Cost Accountants, Cost Auditors of the Company, for the financial year ending March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.26%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  6. To approve appointment of Mr. Vinod Bahety (DIN: 09192400) as Director of the Company
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.08% · other public 3.22%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  7. To approve appointment of Mr. Vinod Bahety (DIN: 09192400) as Wholetime Director & Chief Executive Officer of the Company including terms and conditions thereof.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.02% · other public 4.12%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  8. To approve the reappointment of Mr. Sandeep Singhi (DIN: 01211070), as an Independent Director (Non-executive) of the Company to hold office for second term of three consecutive years.
    Special
    98.06% for1.94% against

    Against: promoters 0.00% · institutions 6.16% · other public 3.37%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  9. To approve the reappointment of Mr. Nitin Shukla (DIN: 00041433) as an Independent Director (Non-executive) of the Company to hold office for second term of three consecutive years.
    Special
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 0.76% · other public 3.83%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  10. To approve the reappointment of Mr. Rajeev Agarwal (DIN: 07984221) as an Independent Director (Non-executive) of the Company to hold office for second term of three consecutive years.
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.30% · other public 4.84%

    Turnout: all 82.69% · promoters 100.00% · institutions 89.40% · other public 0.11%

  11. To approve the material related party transaction(s) with Adani Logistics Limited for FY 2025-26.
    Ordinary
    99.72% for0.28% against

    Against: promoters 0.00% · institutions 0.28% · other public 3.11%

    Turnout: all 26.00% · promoters 0.00% · institutions 89.40% · other public 0.11%

  12. To approve the material related party transaction(s) with Orient Cement Limited for FY 2025-26.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.74%

    Turnout: all 26.00% · promoters 0.00% · institutions 89.40% · other public 0.11%

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.

Postal ballot, 30 Mar 2025, 1 resolution

2,08,009 shareholders on the register on 21 Feb 2025; votes counted by Raimeen Maradiya / Chirag Shah and Associates.The company's voting result (opens in a new tab)

  1. Approval of Material Related Party Transactions with Ambuja Cements Limited for Financial Years 2025‐26.
    OrdinaryPromoters have an interest in it
    95.77% for4.23% against

    Against: promoters 0.00% · institutions 4.23% · other public 1.24%

    Turnout: all 26.81% · promoters 0.00% · institutions 89.84% · other public 0.28%

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, 26 Jun 2024, 5 resolutions

Present: 3 promoters and 50 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements (including consolidated financialnstatements) for the financial year ended on 31st March, 2024.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.04% · other public 0.66%

    Turnout: all 84.12% · promoters 100.00% · institutions 89.53% · other public 0.12%

  2. To declare Dividend on equity shares for the Financial Year ended March 31, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.66%

    Turnout: all 84.16% · promoters 100.00% · institutions 89.63% · other public 0.12%

  3. To appoint a Director in place of Mr. Karan G. Adani (DIN: 03088095) a Non-Executive & Non- Independent Director who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    95.92% for4.08% against

    Against: promoters 0.00% · institutions 12.52% · other public 1.85%

    Turnout: all 84.16% · promoters 100.00% · institutions 89.63% · other public 0.12%

  4. To consider and, if thought fit, approve the remuneration payable to M/s. D. C. Dave & Co., Cost Accountants, Cost Auditors of the Company, for the financial year ending March 31, 2025 and to pass, with or without modification(s).MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.48%

    Turnout: all 84.16% · promoters 100.00% · institutions 89.63% · other public 0.12%

  5. To consider and if thought fit, approve the payment of commission to Non-Executive Directors and to pass, with or without modification(s).
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.38%

    Turnout: all 84.16% · promoters 100.00% · institutions 89.63% · other public 0.12%

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.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 29 Sep 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

  • 1) Approve scheme of amalgamation of ACC Limited with Ambuja Cements Limited
    Against SBI Mutual Fund
    • SBI Mutual FundACC Limited (ACC) is a 50.05% subsidiary of Ambuja Cements Limited (Ambuja), while the promoter group collectively holds 56.69%. Under the scheme, ACC will merge into Ambuja, the ACC shares held by Ambuja will be cancelled, and the remaining shareholders will receive 328 Ambuja shares for every 100 ACC shares. Approximately 307.7 mn new Ambuja shares will be issued, resulting in dilution of approximately 11.0% on the expanded capital base. The valuation assigns 50% weight to the income approach and 25% each to the market price and comparable company approaches. The DCF projections are ambitious, with Ambuja’s growth materially exceeding industry estimates and ACC’s forecasts requiring rapid expansion in its ready-mix concrete business and improvement in margins. The merger will consolidate two listed entities operating in the same business, simplify the group structure and support operational, financial and governance synergies. We are therefore in favour of the merger however the merger ratio is unfavourable for ACC. Merger ratio set at 3.28 vs ratio of 6x in May 2022 during acquisition by Adani. Additionally, absolute valuation of ACC at sub 70$ EV/te also seems low. We have evaluated this transaction independantly and vote against in case of ACC and vote in favour in case of Ambuja. We do not support the resolution.
    0 for1 against
  • Approve scheme of amalgamation of ACC Limited with Ambuja Cements Limited
    2 for0 against
  • Scheme of Amalgamation of ACC Limited with Ambuja Cements Limited under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
    5 for0 against

Mutual fund votes, meeting of 26 Jun 2026, 21 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended on March 31, 2026 together with the Reports of the Board of Directors and Auditors’ thereon.
    20 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026 together with the Reports of Auditors’ thereon.
    20 for0 against
  • To declare dividend on equity shares for the financial year 2025-26.
    20 for0 against
  • To appoint a Director in place of Dr. Vinay Prakash (DIN: 03634648), who retires by rotation and being eligible, offers himself for re-appointment.
    20 for0 against
  • To consider and, if thought fit, approve the remuneration payable to M/s. P.M. Nanabhoy & Co., Cost Accountants, Cost Auditors of the Company, for the financial year 2026-27.
    20 for0 against
5 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
6 earlier meetings

Mutual fund votes, meeting of 1 Apr 2026, 22 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Approval of material related party transactions with Ambuja Cements Limited for financial year 2026-27
    22 for0 against
  • Approval of material related party transactions with Orient Cement Limited (Orient or OCL) for financial year 2026-27.
    21 for0 against
1 proposal not matched to one resolution
  • Item 2, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 17 Feb 2026, 23 fund houses

  • Appointment of Ms. Shruti Shah (DIN:08337714) as an Independent Director of the Company.
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance Concern: Excessive time commitments – The Director holds Directorship Positions in 7 Listed Companies while also working as a Partner (Full-Time) at a CA Firm. Such time-commitments may affect the Director’s capabilities to devote sufficient time to the affairs of the Company.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. Governance Concern: Excessive time commitments – The Director holds Directorship Positions in 7 Listed Companies while also working as a Partner (Full-Time) at a CA Firm. Such time-commitments may affect the Director’s capabilities to devote sufficient time to the affairs of the Company.
    19 for4 against

Mutual fund votes, meeting of 7 Nov 2025, 25 fund houses

  • To approve material related party transactions with Penna Cement Industries Limited.
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundTransparency concern: The companies valuation report's benchmarking methodology, particularly that carrying costs appear estimated using AAA-rated financial services sector debt costs rather than those of cement or comparable manufacturing companies
    24 for1 against

Mutual fund votes, meeting of 26 Jun 2025, 27 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • A. To receive, consider and adopt the audited financial statements of the Company for the financial year ended on March 31, 2025 together with the Reports of the Board of Directors' and Auditors' thereon. B. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on March 31, 2025 together with the report of Auditors' thereon.MoreLess
    26 for0 against
  • To declare dividend on equity shares for the Financial Year 2024-25.
    26 for0 against
  • To appoint a Director in place of Mr. Arun Kumar Anand (DIN:08964078), who retires by rotation and being eligible, offers himself for re‐appointment.
    26 for0 against
  • To approve the appointment of M/s. Mehta & Mehta, Practicing Company Secretary as Secretarial Auditor of the Company for a first term of five (5) years.
    26 for0 against
  • To approve the remuneration payable to M/s. P.M. Nanabhoy & Co., Cost Accountants, Cost Auditors of the Company, for the financial year ending March 31, 2026.
    26 for0 against
  • To approve appointment of Mr. Vinod Bahety (DIN: 09192400) as Director of the Company
    23 for0 against
  • To approve appointment of Mr. Vinod Bahety (DIN: 09192400) as Wholetime Director & Chief Executive Officer of the Company including terms and conditions thereof.
    23 for0 against
  • To approve the reappointment of Mr. Sandeep Singhi (DIN: 01211070), as an Independent Director (Non-executive) of the Company to hold office for second term of three consecutive years.
    Against Axis Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund
    • Axis Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundSandeep Singhi, 58, is a Senior Partner of Singhi & Co., Advocates & Notary, Ahmedabad. He has over 30 years of legal experience. He has been on the board of ACC Limited as Independent Director since 16 September 2022. He attended all six board meetings held during FY25. Sandeep Singhi was on the board of group company Adani Green Energy Ltd as Independent Director from 29 October 2018 to 10 November 2022. We have taken his overall association with the Adani Group into consideration. According to public sources, Sandeep Singhi has represented multiple Adani group companies and members of the Adani family before the Ahmedabad bench of the NCLT. Given the ongoing professional relationship between Sandeep Singhi and the Adani group, we do not support his reappointment as an Independent Director.
    23 for3 against
  • To approve the reappointment of Mr. Nitin Shukla (DIN: 00041433) as an Independent Director (Non-executive) of the Company to hold office for second term of three consecutive years.
    26 for0 against
  • To approve the reappointment of Mr. Rajeev Agarwal (DIN: 07984221) as an Independent Director (Non-executive) of the Company to hold office for second term of three consecutive years.
    26 for0 against
  • To approve the material related party transaction(s) with Adani Logistics Limited for FY 2025-26.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundTransparency Concern: Justification not provided for significant increase in proposed transaction value.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Transparency Concern: Justification not provided for significant increase in proposed transactions.
    23 for4 against
  • To approve the material related party transaction(s) with Orient Cement Limited for FY 2025-26.
    27 for0 against
14 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against
  • Item 8, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundSandeep Singhi, 58, is a Senior Partner of Singhi & Co., Advocates & Notary, Ahmedabad. He has over 30 years of legal experience. He has been on the board of ACC Limited as Independent Director since 16 September 2022. He attended all six board meetings held during FY25. Sandeep Singhi was on the board of group company Adani Green Energy Ltd as Independent Director from 29 October 2018 to 10 November 2022. We have taken his overall association with the Adani Group into consideration. According to public sources, Sandeep Singhi has represented multiple Adani group companies and members of the Adani family before the Ahmedabad bench of the NCLT. Given the ongoing professional relationship between Sandeep Singhi and the Adani group, we do not support his reappointment as an Independent Director.
    0 for1 against
  • Item 9, as a fund house numbered it
    1 for0 against
  • Item 10, as a fund house numbered it
    1 for0 against
  • Appoint Vinod Bahety (DIN: 09192400) as Director, liable to retire by rotation
    2 for0 against
  • Appoint Vinod Bahety (DIN: 09192400) as Whole Time Director and CEO for three years from 1 April 2025 and fix his remuneration
    2 for0 against
  • Appointment of Mr. Vinod Bahety (DIN: 09192400) as Director of the Company, liable to retire by rotation.
    1 for0 against
  • Appointment of Mr. Vinod Bahety (DIN: 09192400) as Whole-time Director and Chief Executive Officer of the Company, liable to retire by rotation, for a period of 3 (three) years commencing with effect from April 1, 2025 up to March 31, 2028 (both days inclusive).MoreLess
    1 for0 against

Mutual fund votes, meeting of 30 Mar 2025, 24 fund houses

  • Approval of Material Related Party Transactions with Ambuja Cements Limited for Financial Years 2025‐26.
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the lack of clarity regarding the timeline and approval process and whether shareholder approval is needed for the MSA agreement governing the RPT transactions.
    23 for1 against

Mutual fund votes, meeting of 26 Jun 2024, 27 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Adoption of Audited Financial Statements (including consolidated financialnstatements) for the financial year ended on 31st March, 2024.
    4 for0 against
  • To declare Dividend on equity shares for the Financial Year ended March 31, 2024.
    26 for0 against
  • To appoint a Director in place of Mr. Karan G. Adani (DIN: 03088095) a Non-Executive & Non- Independent Director who retires by rotation and being eligible, offers himself for re-appointment.
    26 for0 against
  • To consider and, if thought fit, approve the remuneration payable to M/s. D. C. Dave & Co., Cost Accountants, Cost Auditors of the Company, for the financial year ending March 31, 2025 and to pass, with or without modification(s).MoreLess
    26 for0 against
  • To consider and if thought fit, approve the payment of commission to Non-Executive Directors and to pass, with or without modification(s).
    26 for0 against
8 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • 1) a) Adoption of Audited Standalone Financial Statements for the year ended March 31, 2024 and the reports of the Directors and Auditors thereon. B) Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2024 and Auditors report thereon.MoreLess
    1 for0 against
  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • To receive, consider and adopt: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and the Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 together with the Report of the Auditors thereon.MoreLess
    20 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyRegional Director, North Western RegionSince 15 Jun 2026

    Default under the provisions of Section 203(1)(ii) of the Act, read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

  • Tax disputeIncome Tax AuthoritySince 1 Nov 2023
    No Change in Status
    At the filing before: The company has received Assessment Order for the FY 2019-20 demanding Rs. 102.45 crores towards certain disallowances. The company had filed appeal against the said order which is pending for disposal.MoreLess

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

Open at the quarter's end

At most 9 complaints open, quarter to Jun 2026.
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
Yes
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.