Alkyl Amines Chemicals logo

Alkyl Amines Chemicals MD, chairman, board of directors and AGM

NSE: ALKYLAMINEBSE: 506767Chemicals & PetrochemicalsSmall Cap

Last close ₹1,634.80down ₹69.40 (4.07%)BSE ₹1,634.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,704.20.

52-week range of traded prices to 23 Oct 2026
₹1,212.00Low, 17 Mar 2026₹2,115.00High, 24 Aug 2026
Market cap
₹8,362 Cr628th largest listed
P/E
37.1
P/B
5.5
Dividend yield
0.61%
ROE
15.3%
ROCE
17.6%
Debt to equity
0.00
Volume, NSE
51,46646.2% delivered

Alkyl Amines Chemicals 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

  • Chairperson and managing directorYogesh M. Kothari
  • Company Secretary and Compliance OfficerChintamani D. Thatte

10 directors5 independent4 executive1 non-executive

  • Yogesh M. Kothari · Chairperson and managing directorExecutive · joined Oct 1979 · reappointed Apr 2025 · 1 listed board · 1 committee seat
  • Kirat PatelExecutive · joined Dec 1996 · reappointed Jan 2025 · 2 listed boards · 1 committee seat
  • Suneet Y. KothariExecutive · joined Jan 2007 · reappointed Jan 2025 · 1 listed board
  • Rakesh GoyalExecutive · joined Jun 2022 · 1 listed board
  • Premal N. KapadiaNon-executive · joined Jul 1999 · reappointed Aug 2022 · 2 listed boards · 1 committee seat
  • Leja S. HattiangadiIndependent · joined Nov 2018 · reappointed Nov 2023 · 32 months as independent · 2 listed boards · 2 as independent · 3 committee seats
  • Chandrashekhar R. GupteIndependent · joined May 2019 · reappointed May 2024 · 25 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Ravi B. KapoorIndependent · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
  • Ashwin RamanathanIndependent · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
  • Bhavna G. DoshiIndependent · joined May 2024 · reappointed May 2024 · 25 months as independent · 5 listed boards · 5 as independent · 5 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.

Committees and meetings

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

  • Board

    • 5 May 20269 of 10 present5 independent · 34 days in between
    • 31 Mar 20269 of 10 present5 independent · 55 days in between
    • 3 Feb 202610 of 10 present5 independent

  • Audit Committee

    Chair Chandrashekhar R. Gupte

    Premal N. Kapadia, Leja S. Hattiangadi, Bhavna G. Doshi, Ashwin Ramanathan

    • 5 May 20265 of 5 present4 independent · 90 days in between
    • 3 Feb 20265 of 5 present4 independent

  • Nomination and remuneration committee

    Chair Chandrashekhar R. Gupte

    Ravi B. Kapoor, Ashwin Ramanathan

    • 31 Mar 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Ashwin Ramanathan

    Leja S. Hattiangadi, Yogesh M. Kothari

    • 10 Apr 20263 of 3 present2 independent · 86 days in between
    • 13 Jan 20263 of 3 present2 independent

  • Risk Management Committee

    Chair Ravi B. Kapoor

    Chandrashekhar R. Gupte, Suneet Y. Kothari, Rakesh Goyal

    • 20 Apr 20264 of 4 present2 independent · 19 days in between

  • Corporate Social Responsibility Committee

    Chair Yogesh M. Kothari

    Kirat Patel, Leja S. Hattiangadi

    • 1 Apr 20263 of 3 present1 independent · 35 days in between
    • 24 Feb 20263 of 3 present1 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.

  • N. M. Raiji & Co.Peer-review certificate valid to Jan 2028

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.

Alkyl Amines Chemicals 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.Alkyl Amines Chemicals dividend history

Postal ballot, 19 Sep 2026

1,44,919 shareholders on the register on 14 Aug 2026; votes counted by Prashant Mehta / P Mehta & Associates.The company's voting result (opens in a new tab)

  1. Re-designation of Mr. Yogesh M. Kothari (DIN: 00010015) as Executive Chairman w.e.f. October 1, 2026 upto completion of his current term on March 31, 2030
    SpecialPromoters have an interest in it
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 4.89% · other public 0.73%

    Turnout: all 76.99% · promoters 97.59% · institutions 90.53% · other public 3.76%

  2. Re-designation of Mr. Kirat M. Patel (DIN: 00019239) as Joint Managing Director w.e.f. October 1, 2026 upto completion of his current term on December 31, 2029
    Special
    99.99% for0.01% against

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

    Turnout: all 76.99% · promoters 97.59% · institutions 90.53% · other public 3.75%

  3. Re-designation of Mr. Suneet Y. Kothari (DIN: 00021421) as Joint Managing Director w.e.f. October 1, 2026 upto completion of his current term on December 31, 2029
    SpecialPromoters have an interest in it
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 1.22% · other public 0.74%

    Turnout: all 76.99% · promoters 97.59% · institutions 90.53% · other public 3.75%

  4. Re-designation and appointment of Mr. Rakesh Goyal(DIN: 07977008) as Executive Director(Operations) for a period of 5 consecutive years w.e.f. April 1, 2027 to March 31, 2032
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.26% · other public 0.59%

    Turnout: all 76.99% · promoters 97.59% · institutions 90.53% · other public 3.75%

  5. Authorization for payment of commission to Non-Executive Directors for a period of 5 consecutive years w.e.f. April 1, 2027
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.90%

    Turnout: all 76.99% · promoters 97.59% · institutions 90.53% · other public 3.75%

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, 3 Jul 2026, 4 resolutions

1,46,471 shareholders on the register on 26 Jun 2026; present: 7 promoters and 51 others; votes counted by Prashant S. Mehta / P. Mehta & Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited financial statements of the Company for the financial year ended 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 0.00% · other public 0.00%

    Turnout: all 77.04% · promoters 97.59% · institutions 90.36% · other public 3.50%

  2. To declare dividend of Rs.10/- per share on the face value of Rs.2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.04% · promoters 97.59% · institutions 90.36% · other public 3.50%

  3. To appoint a Director in place of Mr. Premal N. Kapadia (DIN 00042090), who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    96.22% for3.78% against

    Against: promoters 0.00% · institutions 48.34% · other public 2.37%

    Turnout: all 77.04% · promoters 97.59% · institutions 90.36% · other public 3.50%

  4. Ratification of Remuneration to Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 77.04% · promoters 97.59% · institutions 90.36% · other public 3.50%

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, 20 Dec 2025, 1 resolution

1,55,178 shareholders on the register on 14 Nov 2025; votes counted by Prashant Mehta / P Mehta & Associates.The company's voting result (opens in a new tab)

  1. Revision in remuneration payable to Mr. Rakesh Goyal, Whole-time Director-Operations w.e.f Jan 1, 2026 upto completion of his term of appointment on May 31, 2027
    Special
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 1.04% · other public 2.89%

    Turnout: all 76.67% · promoters 97.59% · institutions 87.72% · other public 3.63%

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, 1 Jul 2025, 5 resolutions

1,67,636 shareholders on the register on 24 Jun 2024; present: 2 promoters and 65 others; votes counted by Prashant S. Mehta / P. Mehta & Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 1.22% · other public 0.00%

    Turnout: all 76.21% · promoters 97.59% · institutions 88.56% · other public 3.48%

  2. To declare dividend of Rs.10/- per share on the face value of Rs.2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2025
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 1.22% · other public 0.00%

    Turnout: all 76.21% · promoters 97.59% · institutions 88.56% · other public 3.48%

  3. To appoint a Director in place of Mr. Rakesh S. Goyal (DIN 07977008) who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.65% · other public 0.03%

    Turnout: all 76.19% · promoters 97.59% · institutions 88.56% · other public 3.38%

  4. Appointment of M/s. P. Mehta & Associates as Secretarial Auditors of the Company for a term of five years
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.21% · promoters 97.59% · institutions 88.56% · other public 3.48%

  5. Ratification of Remuneration to Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 76.21% · promoters 97.59% · institutions 88.56% · other public 3.48%

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, 14 Sep 2024, 4 resolutions

The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Yogesh M. Kothari (DIN: 00010015) as Chairman and Managing Director for a term of five years
    SpecialPromoters have an interest in it
    95.41% for4.59% against

    Against: promoters 0.00% · institutions 88.47% · other public 0.20%

    Turnout: all 78.05% · promoters 99.03% · institutions 90.01% · other public 11.59%

  2. Re-appointment of Mr. Kirat M. Patel (DIN: 00019239) as an Executive Director for a term of five years
    Special
    96.18% for3.82% against

    Against: promoters 0.00% · institutions 73.53% · other public 0.22%

    Turnout: all 78.05% · promoters 99.03% · institutions 90.01% · other public 11.58%

  3. Re-appointment of Mr. Suneet Y. Kothari (DIN: 00021421) as an Executive Director for a term of five years
    SpecialPromoters have an interest in it
    96.00% for4.00% against

    Against: promoters 0.00% · institutions 77.08% · other public 0.23%

    Turnout: all 78.05% · promoters 99.03% · institutions 90.01% · other public 11.59%

  4. Revision in remuneration payable to Mr. Rakesh S. Goyal – Whole-time Director - Operations up to completion of his term of appointment on May 31, 2027
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.37% · other public 0.28%

    Turnout: all 78.05% · promoters 99.03% · institutions 90.01% · other public 11.58%

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, 2 Jul 2024, 5 resolutions

Present: 2 promoters and 47 others.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2024, together with the reports of the Board of Directors and Auditors thereon
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.39% · other public 0.03%

    Turnout: all 74.60% · promoters 97.58% · institutions 91.42% · other public 2.62%

  2. To declare dividend of Rs. 10/- per share on the face value of Rs. 2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2024.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.39% · other public 0.03%

    Turnout: all 74.60% · promoters 97.58% · institutions 91.42% · other public 2.62%

  3. To appoint a Director in place of Mr. Suneet Y Kothari (DIN 00021421) who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment
    Ordinary
    97.39% for2.61% against

    Against: promoters 0.00% · institutions 52.06% · other public 0.07%

    Turnout: all 74.60% · promoters 97.58% · institutions 91.42% · other public 2.62%

  4. Ratification of Remuneration to Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 74.60% · promoters 97.58% · institutions 91.42% · other public 2.62%

  5. Appointment of Mrs. Bhavna G. Doshi (DIN: 00400508) as an Independent Director
    Special
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 4.10% · other public 0.09%

    Turnout: all 74.60% · promoters 97.58% · institutions 91.42% · other public 2.62%

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, 15 Mar 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Appointment of Mr. Ravi Kapoor (DIN: 01761752) as an Independent Director for a term of five years with effect from February 2, 2024 to February 1, 2029
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.48%

    Turnout: all 74.58% · promoters 97.58% · institutions 92.66% · other public 1.97%

  2. Appointment of Mr. Ashwin Ramanathan (DIN: 08543918) as an Independent Director for a term of five years with effect from February 2, 2024 to February 1, 2029
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.51%

    Turnout: all 74.58% · promoters 97.58% · institutions 92.66% · other public 1.97%

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, 11 Jul 2023, 7 resolutions

Present: 2 promoters and 58 others.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2023, together with the reports of the Board of Directors and Auditors thereon
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.90% · other public 0.02%

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.86%

  2. To declare dividend of Rs.10/- per share on the face value of Rs.2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.87%

  3. To appoint a Director in place of Mr. Kirat M. Patel (DIN: 00019239), who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment
    Ordinary
    98.50% for1.50% against

    Against: promoters 0.00% · institutions 29.75% · other public 0.04%

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.87%

  4. Ratification of remuneration to Cost Auditor
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.87%

  5. Re-appointment of Ms. Leja S. Hattiangadi as an Independent Director
    Special
    98.10% for1.90% against

    Against: promoters 0.00% · institutions 37.74% · other public 0.05%

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.87%

  6. Re-appointment of Mr. Chandrashekhar R. Gupte as an Independent Director
    Special
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 2.12% · other public 0.05%

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.87%

  7. Continuation of Directorship of Mr. Premal N. Kapadia as Non-Executive Non-Independent Director
    Special
    99.31% for0.69% against

    Against: promoters 0.00% · institutions 13.62% · other public 0.05%

    Turnout: all 75.44% · promoters 97.58% · institutions 94.10% · other public 5.87%

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 19 Sep 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Re-designation of Mr. Yogesh M. Kothari (DIN: 00010015) as Executive Chairman w.e.f. October 1, 2026 upto completion of his current term on March 31, 2030
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: The Company has skewed remuneration practice in favour of promoter directors and the appointee holds dual position of Chairman and Managing Director and is proposed to re-designate as Executive Chairman.
    2 for1 against
  • Re-designation of Mr. Kirat M. Patel (DIN: 00019239) as Joint Managing Director w.e.f. October 1, 2026 upto completion of his current term on December 31, 2029
    3 for0 against
  • Re-designation of Mr. Suneet Y. Kothari (DIN: 00021421) as Joint Managing Director w.e.f. October 1, 2026 upto completion of his current term on December 31, 2029
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: The Company has skewed remuneration practice in favour of promoter directors.
    2 for1 against
  • Re-designation and appointment of Mr. Rakesh Goyal(DIN: 07977008) as Executive Director(Operations) for a period of 5 consecutive years w.e.f. April 1, 2027 to March 31, 2032
    3 for0 against
  • Authorization for payment of commission to Non-Executive Directors for a period of 5 consecutive years w.e.f. April 1, 2027
    3 for0 against

Mutual fund votes, meeting of 3 Jul 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon
    3 for0 against
  • To declare dividend of Rs.10/- per share on the face value of Rs.2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2026
    3 for0 against
  • To appoint a Director in place of Mr. Premal N. Kapadia (DIN 00042090), who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment.
    Against Angel One Mutual Fund, HSBC Mutual Fund
    • Angel One Mutual FundRe-appointment proposed via Ordinary Resolution for director beyond the age of 75 years.
    • HSBC Mutual FundA vote AGAINST the nominee is warranted because Premal Kapadia has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
    1 for2 against
  • Ratification of Remuneration to Cost Auditor
    3 for0 against
6 earlier meetings

Mutual fund votes, meeting of 20 Dec 2025, 16 fund houses

  • Revision in remuneration payable to Mr. Rakesh Goyal, Whole-time Director-Operations w.e.f Jan 1, 2026 upto completion of his term of appointment on May 31, 2027
    Against Axis Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual Fund, Jio BlackRock Mutual FundRakesh Goyal, 56, has 30 years of experience in manufacturing, technology transfer, process development, quality management, sales and marketing. He attended all four board meetings (100%) held in FY25. He received Rs. 21.9 mn as remuneration in FY25, including fair value of stock options. Based on his revised terms, we estimate his annual pay at Rs. 27.4 mn, excluding stock options. While he is entitled to stock options, the company has not provided clarity on any proposed quantum or value of the grants. The company must cap overall remuneration in absolute amounts and quantify/disclose the stock options that he is eligible to receive. Further, the company must disclose the granular performance metrics which determine such variable pay. Due to lack of adequate disclosures, we are unable to ascertain his aggregate remuneration. We do not support the revision in his remuneration. We raise concern that there are criminal charges filed against Rakesh Goyal by his former employer, National Peroxide Limited; the matter is currently sub-judice, but its outcome may have material implications for his employment and role at Alkyl Amines Chemicals Limited. We believe the criminal case needs to be resolved for Rakesh Goyal to continue on the company’s board. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    • Nippon India Mutual FundTransparency Concern: Inadequate disclosure related to stock option details, and performance metrics for increase
    12 for4 against

Mutual fund votes, meeting of 1 Jul 2025, 17 fund houses

  • To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundGovernance Concern: Undisputed Statutory Dues unpaid for more than two years.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundUnqualified Financial Statements. Governance Concern: Undisputed Statutory Dues unpaid for more than 2 years.
    • Nippon India Mutual FundGovernance Concern: Undisputed Statutory Dues unpaid for more than 2 years.
    11 for6 against
  • To declare dividend of Rs.10/- per share on the face value of Rs.2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2025
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundSufficient funds for payment of dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
    11 for6 against
  • To appoint a Director in place of Mr. Rakesh S. Goyal (DIN 07977008) who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment
    Against Axis Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual FundRakesh S. Goyal, 56, is currently serving as Whole-time Director – Operations on the board of Alkyl Amines Chemicals Limited. He has been associated with the company since 1 June 2022. He attended all four board meetings (100%) held in FY25. He retires by rotation. We raise concern that there are criminal charges filed against Rakesh Goyal by his former employer, National Peroxide Limited; the matter is currently sub-judice, but its outcome may have material implications for his employment and role at Alkyl Amines Chemicals Limited. We believe the criminal case needs to be resolved before Rakesh Goyal can be reappointed to the company’s board. We do not support the resolution.
    • Kotak Mahindra Mutual FundThe Company is seeking shareholders approval for reappointment of Mr. Rakesh S. Goyal as a Director, liable to retire by rotation. We raise concern that there are criminal charges filed against Rakesh Goyal by his former employer, National Peroxide Limited; the matter is currently sub-judice, but its outcome may have material implications for his employment and role at Alkyl Amines Chemicals Limited. We believe the criminal case needs to be resolved before Rakesh Goyal can be reappointed to the company s board. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    14 for3 against
  • Appointment of M/s. P. Mehta & Associates as Secretarial Auditors of the Company for a term of five years
    17 for0 against
  • Ratification of Remuneration to Cost Auditor
    17 for0 against

Mutual fund votes, meeting of 14 Sep 2024, 11 fund houses

  • Re-appointment of Mr. Yogesh M. Kothari (DIN: 00010015) as Chairman and Managing Director for a term of five years
    Against Axis Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual Fund, DSP Mutual FundYogesh M. Kothari, 75, is part of the promoter family. The company proposes to reappoint him as Chairman and Managing Director for five years from 1 April 2025 and fix his remuneration. He shall not be liable to retire by rotation. He has attended all four board meetings held in FY24. He received Rs. 114.9 mn as remuneration in FY24. His proposed remuneration is estimated at Rs. 130.4 mn which is higher than peers and is not commensurate with the size and scale of the business. His remuneration structure is open-ended with no absolute cap to the commission: the company can pay him up to 5% of net profit as aggregate remuneration. The company must disclose the performance metrics that will be used to determine his commission payout and cap it in absolute terms. The company will reimburse actual medical expenses for him and family. We are of the opinion that family expenses should be borne by the employee and not the company, given the personal nature of such expenses. While we support his reappointment, we do not support his remuneration terms.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundRe-appointment compliant with law. Governance concern: Holds dual position of Chairman and Managing Director. Skewed remuneration towards promoter directors.
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    • HSBC Mutual FundThe commission element in the pay structure has no absolute monetary cap, which makes the remuneration structure open-ended. There are no disclosures on the performance metrics, threshold, and target performance that the executives need to achieve based on which payout under the commission element will be made. The executives will be paid the proposed remuneration (excluding commission) as minimum remuneration even in the event of loss or inadequate profits of the company. The pay of the executives is deemed excessive, when compared to industry peers.
    3 for8 against
  • Re-appointment of Mr. Kirat M. Patel (DIN: 00019239) as an Executive Director for a term of five years
    Against HSBC Mutual Fund
    • HSBC Mutual FundThe commission element in the pay structure has no absolute monetary cap, which makes the remuneration structure open-ended. There are no disclosures on the performance metrics, threshold, and target performance that the executives need to achieve based on which payout under the commission element will be made. The executives will be paid the proposed remuneration (excluding commission) as minimum remuneration even in the event of loss or inadequate profits of the company. The pay of the executives is deemed excessive, when compared to industry peers.
    10 for1 against
  • Re-appointment of Mr. Suneet Y. Kothari (DIN: 00021421) as an Executive Director for a term of five years
    Against Axis Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual Fund, DSP Mutual FundThe company proposes to reappoint Suneet Y. Kothari, 48, as an Executive Director for five years from 1 January 2025 and fix his remuneration. He is a member of the promoter family. Suneet Y Kothari is liable to retire by rotation. He has attended all four board meetings held in FY24. He received Rs. 48.8 mn as remuneration in FY24. His proposed remuneration is estimated at Rs. 62.1 mn. His remuneration structure is open-ended with no absolute cap to the commission: the company can pay him up to 1% of net profit as commission. The company must disclose the performance metrics that will be used to determine his commission payout and cap the aggregate remuneration in absolute terms. The total estimated promoter remuneration for FY25 is Rs. 192.5 mn, which is high at 9.5% of FY24 consolidated PBT. The company will reimburse actual medical expenses for him and family. We are of the opinion that family expenses should be borne by the employee and not the company, given the personal nature of such expenses. While we support his reappointment, we do not support his remuneration terms.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundRe-appointment compliant with law. Governance concern: Skewed remuneration towards promoter directors.
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    • HSBC Mutual FundThe commission element in the pay structure has no absolute monetary cap, which makes the remuneration structure open-ended. There are no disclosures on the performance metrics, threshold, and target performance that the executives need to achieve based on which payout under the commission element will be made. The executives will be paid the proposed remuneration (excluding commission) as minimum remuneration even in the event of loss or inadequate profits of the company. The pay of the executives is deemed excessive, when compared to industry peers.
    3 for8 against
  • Revision in remuneration payable to Mr. Rakesh S. Goyal – Whole-time Director - Operations up to completion of his term of appointment on May 31, 2027
    Against Axis Mutual Fund, DSP Mutual Fund
    • Axis Mutual Fund, DSP Mutual FundRakesh S. Goyal was appointed as Whole-time Director – Operations of the Company (liable to retire by rotation) for five years from 1 June 2022. The company proposes to revise remuneration payable to him from 1 April 2025 up to completion of his term on 31 May 2027. He has attended all four board meetings held in FY24. He received Rs. 22.9 mn as remuneration in FY24. His maximum proposed remuneration is estimated at Rs. 15.1 mn. The company can pay him up to 0.1% of net profit as commission. The proposed remuneration is reasonable. The company must disclose the performance metrics that will be used to determine his commission payout and cap the aggregate remuneration in absolute terms. We raise concern that there is an ongoing litigation filed against Rakesh Goyal by his former employer, National Peroxide Limited and the matter is currently sub-judice.
    9 for2 against

Mutual fund votes, meeting of 2 Jul 2024, 9 fund houses

  • To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2024, together with the reports of the Board of Directors and Auditors thereon
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified Financial Statements. Governance Concern: Undisputed Statutory Dues unpaid for more than 2 years.
    6 for3 against
  • To declare dividend of Rs. 10/- per share on the face value of Rs. 2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2024.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundSufficient funds for payment of dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
    6 for3 against
  • To appoint a Director in place of Mr. Suneet Y Kothari (DIN 00021421) who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment
    Against Bandhan Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration.
    • HSBC Mutual FundWe have concerns about insufficient independence on the board.
    5 for4 against
  • Ratification of Remuneration to Cost Auditor
    9 for0 against
  • Appointment of Mrs. Bhavna G. Doshi (DIN: 00400508) as an Independent Director
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. Governance concern: Excessive time commitments.
    • Edelweiss Mutual FundNeed further data for approving the same
    • Nippon India Mutual FundExcessive time commitments
    4 for5 against

Mutual fund votes, meeting of 15 Mar 2024, 8 fund houses

  • Appointment of Mr. Ravi Kapoor (DIN: 01761752) as an Independent Director for a term of five years with effect from February 2, 2024 to February 1, 2029
    8 for0 against
  • Appointment of Mr. Ashwin Ramanathan (DIN: 08543918) as an Independent Director for a term of five years with effect from February 2, 2024 to February 1, 2029
    8 for0 against

Mutual fund votes, meeting of 11 Jul 2023, 8 fund houses

  • To consider and adopt the audited financial statements of the Company for the financial year ended March 31, 2023, together with the reports of the Board of Directors and Auditors thereon
    Against Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Motilal Oswal Mutual FundUnqualified Financial Statements. Governance Concern: Undisputed Statutory Dues unpaid for more than 2 years.
    • Nippon India Mutual FundUnpaid undisputed statutory dues
    6 for2 against
  • To declare dividend of Rs.10/- per share on the face value of Rs.2/- per share as recommended by the Board of Directors for the financial year ended March 31, 2023
    8 for0 against
  • To appoint a Director in place of Mr. Kirat M. Patel (DIN: 00019239), who retires by rotation at ensuing Annual General Meeting and being eligible, offers himself for re-appointment
    8 for0 against
  • Ratification of remuneration to Cost Auditor
    8 for0 against
  • Re-appointment of Ms. Leja S. Hattiangadi as an Independent Director
    8 for0 against
  • Re-appointment of Mr. Chandrashekhar R. Gupte as an Independent Director
    8 for0 against
  • Continuation of Directorship of Mr. Premal N. Kapadia as Non-Executive Non-Independent Director
    8 for0 against

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

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 1 complaint open, quarter to Jun 2025.
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
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.