Alkem Laboratories MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 25 Aug 2025, 29 fund houses

• Receive, consider and adopt: a) the Audited Standalone Financial Statements of the Company for financial year ended 31st March, 2025 and the Reports of the Board of Directors and Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for financial year ended 31st March, 2025 and the Reports of Auditors thereon.MoreLess

  29 for0 against
• Confirm the payment of Interim Dividend and to declare Final Dividend on Equity Shares for financial year ended 31st March, 2025.

  29 for0 against
• Appointment of Mr. Mritunjay Kumar Singh (DIN: 00881412), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Franklin Templeton Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because: • Mritunjay Kumar Singh is an executive director serving on the audit committee.

  28 for1 against
• Appointment of Mr. Srinivas Singh (DIN: 06744441), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Axis Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund

  • Axis Mutual Fund, Sundaram Mutual FundSrinivas Singh, 36, is part of the promoter family and has been associated with Alkem Laboratories Limited since 2012. He has been on the board since September 2022. His key responsibilities include managing R&D projects, generics portfolio, cost optimisation and savings, new product launches in global markets and alternate vendor development, digitisation of the sales team, and ensuring risk assessment of products to be launched. He attended four out of five (80%) board meetings held in FY25. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. While his reappointment is in line with statutory requirements, we do not support the resolution.
  • Invesco Mutual FundSrinivas Singh, 36, is part of the promoter family and has been associated with Alkem Laboratories Limited since 2012. He has been on the board since September 2022. His key responsibilities include managing R&D projects, generics portfolio, cost optimisation and savings, new product launches in global markets and alternate vendor development, digitisation of the sales team, and ensuring risk assessment of products to be launched. He attended four out of five (80%) board meetings held in FY25. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. While his reappointment is in line with statutory requirements, we do not support the resolution
  • UTI Mutual FundHigher number of promoter family members on the board of the company. This limits the company’s ability to attract the right professional talent.

  25 for4 against
• Appointment of M/s Manish Ghia & Associates, Practicing Company Secretaries (CP No.: 3531) as the Secretarial Auditors of the Company for a term of 5 (five) years with effect from 01st April, 2025 upto 31st March, 2030.MoreLess

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Failure to highlight previous non compliance by the Secretarial Auditors in their Report or Compliance Report.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: Failure to highlight previous noncompliance by the Secretarial Auditors in their Report or Compliance Report.

  23 for6 against
• Ratification for payment of fees to Mr. Suresh D. Shenoy, Cost Accountant (Membership No. 8318), as Cost Auditor of the Company for financial year ended 31st March, 2025.

  29 for0 against

Mutual fund votes, meeting of 2 Aug 2025, 29 fund houses

• Appointment of Mr. Diwakar Gupta (DIN: 01274552) as an Independent Director of the Company for a period of five consecutive years w.e.f. 13th July, 2025 upto 12th July, 2030

  29 for0 against

Mutual fund votes, meeting of 12 Jul 2025, 27 fund houses

• Appointment of Mr. Ranjal Laxmana Shenoy (DIN: 00074761) as an Independent Director of the Company for a period of five consecutive years w.e.f. 13th July,2025 upto 12th July, 2030.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: No adequate cooling off period served since cessation of association between the previous auditors and the Company. Cooling off is essential especially when the Independent Director had previously considered such an association to have an impact on the independence.
  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundAppointment compliant with law. Governance Concern: No adequate cooling off period served since cessation of association between the previous auditors and the Company. Cooling off is essential especially when the Independent Director had previously considered such an association to have an impact on the independence.

  20 for7 against
• Appointment of Ms. Neela Bhattacherjee (DIN:01912483) as an Independent Director of the Company for a period of five consecutive years w.e.f. 13th July, 2025 upto 12th July, 2030.

  27 for0 against

Mutual fund votes, meeting of 3 Oct 2024, 29 fund houses

• Appointment of Mr. Rajeev Kher (DIN: 01192524) as an Independent Director of the Company for a period of five consecutive years w.e.f. 09th August, 2024 upto 08th August, 2029.

  ›Against Bajaj Finserv Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Bajaj Finserv Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, Zerodha Mutual FundNon-Compliant with the Companies Act, 2013 and SEBI LODR, 2015: Delayed shareholders’ approval proposed. Directorship ceased on the date of 30th August 2024 as the appointment was valid only till the date of the said AGM.
  • Kotak Mahindra Mutual FundBoard of Directors had appointed Mr. Rajeev Kher, as an independent director on 9th August, 2024. Mr Rajeev Kher, 69, is a retired IAS officer. He has overall 44 years of experience, including 37 years with the Indian Administrative Service. He has experience in competition law and policy, international trade and commerce, industrial development and investment policy, sustainable development policy and planning, environmental management and global governance. No concern has been identified with the time commitment, profile and independence of the director. Regulation 17 (1C) of SEBI LODR, 2015 states that shareholders approval for appointment of an additional director is to be taken at the next general meeting held post appointment on the Board or within a time period of three months from the date of appointment, whichever is earlier. As per this regulation company should have sought approval from shareholders in the AGM which was held on 30th August, 2024. However company was not able to take approval for this appointment in the AGM due to procedural delays on its part. This is violation of the SEBI regulation, hence voting against the resolution.
  • Motilal Oswal Mutual Fundnot compliant with companies act
  • PPFAS Mutual FundAppointment is non-compliant with Companies Act and SEBI LODR.

  22 for7 against

Mutual fund votes, meeting of 30 Aug 2024, 29 fund houses

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

• To receive, consider and adopt:na.tthe Audited Standalone Financial Statements of the Company for financial year ended 31st March, 2024 and the Reports of the Board of Directors and Auditors thereon; andnb.tthe Audited Consolidated Financial Statements of the Company for financial year ended 31st March, 2024 and the Reports of Auditors thereon.MoreLess

  26 for0 against
• Confirm the payment of interim dividend and to declare final dividend on equity shares for financial year ended 31st March, 2024.

  28 for0 against
• Appointment of Mrs. Madhurima Singh (DIN: 09137323), who retires by rotation and being eligible, offers herself for re-appointment.

  ›Against 360 One Mutual Fund, Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Mahindra Manulife Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund

  • 360 One Mutual FundMs. Madhurima Singh, 58, is part of the promoter family and Executive Director of the company since 20 December 2021. She is the wife of Late Dhananjay Singh, the company’s former Joint Managing Director. She is part of the Shareholder Group II within the promoter group. Ms. Madhurima Singh oversees semi-chronic therapy SBU’s of the company’s domestic business, indirect procurement, distribution and supply chain, HR, CSR, and corporate communication functions in the company. She attended all ten board meetings held in FY24. She retires by rotation. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. The aggregate promoter remuneration for FY24 aggregated to Rs. 710.3 mn, which is high in absolute terms. Her FY24 remuneration was Rs. 104.1 mn, which is high. Further, Basudeo Singh – the promoter, is a member of the Nomination and Remuneration Committee, which is an inherent conflict of interest. We do not support her reappointment
  • Axis Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundMs. Madhurima Singh, 58, is part of the promoter family and Executive Director of the company since 20 December 2021. She is the wife of Late Dhananjay Singh, the company’s former Joint Managing Director. She is part of the Shareholder Group II within the promoter group. Ms. Madhurima Singh oversees semi-chronic therapy SBU’s of the company’s domestic business, indirect procurement, distribution and supply chain, HR, CSR, and corporate communication functions in the company. She attended all ten board meetings held in FY24. She retires by rotation. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. The aggregate promoter remuneration for FY24 aggregated to Rs. 710.3 mn, which is high in absolute terms. Her FY24 remuneration was Rs. 104.1 mn, which is high. Further, Basudeo Singh – the promoter, is a member of the Nomination and Remuneration Committee, which is an inherent conflict of interest. We do not support her reappointment.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual FundCompliant with law. Governance concerns identified in her original appointment i.e. Lack of full disclosures, inadequate justification for appointment, no justification to pay higher remuneration in compare to other Eds.
  • Baroda BNP Paribas Mutual FundCompliant with law. Governance concerns identified in her original appointment i.e. Lack of full disclosures, inadequate justification for appointment, no justification to pay higher remuneration in compare to other EDs.
  • ICICI Prudential Mutual FundThe AMC has voted against the resolution as there is no justification to pay higher remuneration in comparison to higher EDs. Her FY2024 remuneration was Rs. 104.1 million which is high.
  • Kotak Mahindra Mutual FundMs. Madhurima Singh, 58, is part of the promoter family and Executive Director of the company since 20 December 2021. She attended all ten board meetings held in FY24. She retires by rotation. The aggregate promoter remuneration for FY24 aggregated to Rs. 710.3 mn, which is high in absolute terms. Her FY24 remuneration was Rs. 104.1 mn, which is high. We do not support her reappointment.
  • Mahindra Manulife Mutual FundMs. Madhurima Singh, 58, is part of the promoter family and Executive Director of the company since 20 December 2021. She is the wife of Late Dhananjay Singh, the company’s former Joint Managing Director. She is part of the Shareholder Group II within the promoter group. Ms. Madhurima Singh oversees semi-chronic therapy SBU’s of the company’s domestic business, indirect procurement, distribution and supply chain, HR, CSR, and corporate communication functions in the company. She attended all ten board meetings held in FY24. She retires by rotation. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. The company should consider hiring some professionals in an executive capacity on the board. Further, the aggregate promoter remuneration for FY24 aggregated to Rs. 710.3 mn, which is high in absolute terms. Her FY24 remuneration was Rs. 104.1 mn, which is high. Further, Basudeo Singh – the promoter, is a member of the Nomination and Remuneration Committee, which is an inherent conflict of interest. We do not support her reappointment.
  • PPFAS Mutual FundConcern in original appointment, no justification to pay higher remuneration in compare to other EDs.

  12 for16 against
• Appointment of Mr. Sarvesh Singh (DIN: 01278229), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Axis Mutual Fund, Invesco Mutual Fund, Mahindra Manulife Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, Mahindra Manulife Mutual Fund, Sundaram Mutual FundSarvesh Singh, 43, is part of the promoter family and Executive Director of the company since 11 November 2019. He has over 18 years of experience in sales and marketing in the pharmaceutical industry and heads the Pentacare and Prizma divisions of the company’s domestic business. It is unclear if the size of business he handles is sufficient for him to hold a board position. He is part of Shareholder Group I of the promoter group. He attended nine out of ten board meetings held in FY24. He retires by rotation. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. Therefore, we do not support his reappointment.
  • Invesco Mutual FundSarvesh Singh, 43, is part of the promoter family and Executive Director of the company since 11 November 2019. He has over 18 years of experience in sales and marketing in the pharmaceutical industry and heads the Pentacare and Prizma divisions of the company’s domestic business. It is unclear if the size of business he handles is sufficient for him to hold a board position. He is part of Shareholder Group I of the promoter group. He attended nine out of ten board meetings held in FY24. He retires by rotation. We raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. Therefore, we do not support his reappointment

  23 for4 against
• Appointment of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants (Firm Registration No. 117366W/W-100018) as Statutory Auditors of the Company and to fix their fees.

  29 for0 against
• Re-appointment of Mr. Basudeo N. Singh (DIN: 00760310) as an Executive Chairman of the Company for a term of 3 (three) consecutive years with effect from 01st April, 2025 upto 31st March, 2028.

  ›Against Bajaj Finserv Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Bajaj Finserv Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundNon-Compliance with Section 196(3)(a) of the Companies Act, 2013 - No specific approval of shareholders for continuation beyond 70 years of age and no specific justification for continuation. Governance concern: Holding the Executive Chairman position, being chairman of the Board and member of NRC is responsible for the appointment and proposal of remuneration of Mrs. Madhurima Singh.
  • JM Financial Mutual FundNon-Compliance with Section 196(3)(a) of the Companies Act, 2013 - No specific approval of shareholders for continuation beyond 70 years of age and no specific justification for continuation. Governance concern: Holding the Executive Chairman position, being chairman of the Board and member of Nomination and Remuneration Committee is responsible for the appointment and proposal of remuneration of Mrs. Madhurima Singh.
  • PPFAS Mutual FundNo specific approval of shareholders for continuation beyond 70 years of age, Holding Executive Chairman position

  21 for7 against
• Re-appointment of Mr. Sarvesh Singh (DIN: 01278229) as an Executive Director of the Company for a term of 5 (five) consecutive years with effect from 11th November, 2024 upto 10th November, 2029.

  ›Against Axis Mutual Fund, Invesco Mutual Fund, Mahindra Manulife Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, Mahindra Manulife Mutual Fund, Sundaram Mutual FundIn FY24, he received Rs. 44.5 mn which was 102.3x the median employee remuneration. Based on his remuneration terms, we estimate his annual remuneration at Rs. 49.4 mn. The company has not disclosed the size and scale of the businesses which fall under his responsibility. We continue to raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. The aggregate promoter remuneration for FY24 aggregated to Rs. 710.3 mn, which is high in absolute terms. Further, Basudeo N Singh, promoter Executive Chairperson is a member of the Nomination and Remuneration Committee, which is an inherent conflict of interest. We do not support his reappointment on the board as we do not have sufficient information to make an informed decision with respect to the appropriateness of his remuneration levels.
  • Invesco Mutual FundIn FY24, he received Rs. 44.5 mn which was 102.3x the median employee remuneration. Based on his remuneration terms, we estimate his annual remuneration at Rs. 49.4 mn. The company has not disclosed the size and scale of the businesses which fall under his responsibility. We continue to raise concern that there are six family members on the board in an executive capacity and several promoter family members in offices of profit, which is excessive. The aggregate promoter remuneration for FY24 aggregated to Rs. 710.3 mn, which is high in absolute terms. Further, Basudeo N Singh, promoter Executive Chairperson is a member of the Nomination and Remuneration Committee, which is an inherent conflict of interest. We do not support his reappointment on the board as we do not have sufficient information to make an informed decision with respect to the appropriateness of his remuneration levels

  23 for4 against
• Re-appointment of Mr. Narendra Kumar Aneja (DIN: 00124302) as an Independent Director of the Company for a term of 5 (five) consecutive years with effect from 16th March, 2025 upto 15th March, 2030.

  28 for0 against
• Ratification of payment of fees to Mr. Suresh D. Shenoy, Cost Accountant (Membership No. 8318), as Cost Auditor of the Company.

  27 for0 against

Mutual fund votes, meeting of 5 Apr 2024, 24 fund houses

• Reclassification of certain members of 'Promoter Group' to 'Public' Category.

  ›Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual FundAlthough compliant with law, Governance & Transparency Concern: Re-classification of the promoter group is not in the spirit of law.
  • Baroda BNP Paribas Mutual FundNo major governance concern
  • Zerodha Mutual FundThe Company has not provided adequate justification regarding the nature of the relationship between the acquirers and the transferors.

  18 for6 against