Anupam Rasayan India logo

Anupam Rasayan India MD, chairman, board of directors and AGM

NSE: ANURASBSE: 543275Chemicals & PetrochemicalsSmall Cap

Last close ₹1,101.60down ₹6.80 (0.61%)BSE ₹1,102.85

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,108.40.

52-week range of traded prices to 23 Oct 2026
₹1,053.60Low, 7 Nov 2025₹1,415.00High, 7 May 2026
Market cap
₹12,542 Cr431st largest listed
P/E
71.8
P/B
3.8
Dividend yield
0.14%
ROE
5.7%
ROCE
6.2%
Debt to equity
0.39
Volume, NSE
6,74,13056.3% delivered

Anupam Rasayan India 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

  • ChairpersonKiran Chhotubhai PatelRelated to the promoter
  • Managing directorAnand Sureshbhai Desai
  • Company Secretary and Compliance OfficerAshish Gupta

8 directors4 independent3 executive1 non-executive

  • Kiran Chhotubhai Patel · ChairpersonNon-executive · joined Jan 2019 · 1 listed board
  • Mona Anandbhai DesaiExecutive · joined Sep 2003 · reappointed Apr 2026 · 1 listed board · 1 committee seat
  • Anand Sureshbhai Desai · Managing directorExecutive · joined Sep 2003 · reappointed Apr 2026 · 1 listed board · 1 committee seat
  • Anuj Hemantbhai ThakarExecutive · joined Nov 2023 · 1 listed board · 1 committee seat
  • Ketan Paragji DesaiIndependent · joined Nov 2024 · reappointed Nov 2024 · 19 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • Madhuri Ajit SawantIndependent · joined Nov 2024 · reappointed Nov 2024 · 19 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Anand Rajeshwarrao ChatorikarIndependent · joined Dec 2024 · reappointed Dec 2024 · 18 months as independent · 1 listed board · 1 as independent
  • Milind Madan TalathiIndependent · joined Sep 2025 · reappointed Sep 2025 · 9 months as independent · 1 listed board · 1 as independent

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.

5 directors who left
  • Bikram Singh, left 27 Jun 2025: Others
  • Namrata Dharmendra Jariwala, left 3 Dec 2024: Tenure Completion
  • Vijay Kumar Batra, left 8 Nov 2024: Tenure Completion
  • Vinesh Prabhakar Sadekar, left 8 Nov 2024: Tenure Completion
  • Hetul Krishnakant Mehta, left 8 Nov 2024: Tenure Completion

Committees and meetings

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

  • Board

    • 23 May 20268 of 8 present4 independent · 46 days in between
    • 6 Apr 20268 of 8 present4 independent · 39 days in between
    • 25 Feb 20268 of 8 present4 independent · 10 days in between
    • 14 Feb 20268 of 8 present4 independent · 1 day in between
    1 earlier meeting
    • 12 Feb 20268 of 8 present4 independent

  • Audit Committee

    Chair Ketan Paragji Desai

    Madhuri Ajit Sawant, Anand Sureshbhai Desai

    • 19 Jun 20263 of 3 present2 independent · 26 days in between
    • 23 May 20263 of 3 present2 independent · 46 days in between
    • 6 Apr 20263 of 3 present2 independent · 39 days in between
    • 25 Feb 20263 of 3 present2 independent · 10 days in between
    2 earlier meetings
    • 14 Feb 20263 of 3 present2 independent · 1 day in between
    • 12 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Ketan Paragji Desai

    Madhuri Ajit Sawant, Anand Rajeshwarrao Chatorikar

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair Ketan Paragji Desai

    Mona Anandbhai Desai, Anuj Hemantbhai Thakar

    • 21 Mar 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Anand Sureshbhai Desai

    Mona Anandbhai Desai, Milind Madan Talathi

    • 28 Mar 20263 of 3 present1 independent · 30 days in between

  • Corporate Social Responsibility Committee

    Chair Mona Anandbhai Desai

    Anuj Hemantbhai Thakar, Ketan Paragji Desai

    • 25 Feb 20263 of 3 present1 independent

  • Sustainability Committee

    Chair Anand Sureshbhai Desai

    Mona Anandbhai Desai, Madhuri Ajit Sawant, Anand Rajeshwarrao Chatorikar

    No meeting listed in the filing.

  • Executive Committee

    Chair Anand Sureshbhai Desai

    Mona Anandbhai Desai, Anuj Hemantbhai Thakar

    • 30 Jun 20262 of 3 present0 independent · 9 days in between
    • 20 Jun 20263 of 3 present0 independent · 2 days in between
    • 17 Jun 20263 of 3 present0 independent · 5 days in between
    • 11 Jun 20263 of 3 present0 independent · 15 days in between
    4 earlier meetings
    • 26 May 20263 of 3 present0 independent · 107 days in between
    • 7 Feb 20262 of 3 present0 independent · 16 days in between
    • 21 Jan 20263 of 3 present0 independent · 15 days in between
    • 5 Jan 20263 of 3 present0 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.

  • M/s. Natvarlal Vepari & Co.Peer-review certificate valid to May 2027
2 earlier auditors
  • Natvarlal Vepari & Co.Named in the filing for the quarter to Sep 2025
  • M/s. Rajendra & Co.Named in the filing for the quarter to Mar 2025

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.

Anupam Rasayan India 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.Anupam Rasayan India dividend history

Annual general meeting, 30 Sep 2026

44,530 shareholders on the register on 23 Sep 2026; present: 7 promoters and 31 others; votes counted by CS Mohan Baid / M D Baid & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2026, the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, the Auditors’ Report thereon and the Board of Directors’ Report of the Company for the financial year 2025-26MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.07% · promoters 100.00% · institutions 22.47% · other public 48.40%

  2. To declare a final dividend on Equity Shares for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.00%

    Turnout: all 76.07% · promoters 100.00% · institutions 22.47% · other public 48.40%

  3. To appoint a Director in place of Mr. Anand Sureshbhai Desai, Managing Director (DIN: 00038442), who retires by rotation as Director in terms of Section 152(6) of the Companies Act, 2013, and being eligible, offers himself for reappointment as DirectorMoreLess
    OrdinaryPromoters have an interest in it
    99.37% for0.63% against

    Against: promoters 0.00% · institutions 19.74% · other public 0.00%

    Turnout: all 76.07% · promoters 100.00% · institutions 22.47% · other public 48.40%

  4. To ratify the remuneration payable to the Cost Auditor for cost audit for the period from April 01, 2026 to March 31, 2027
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.07% · promoters 100.00% · institutions 22.47% · other public 48.40%

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 May 2026, 2 resolutions

43,799 shareholders on the register on 3 Apr 2026; votes counted by CS Mohan Baid / M D Baid & Associates.The company's voting result (opens in a new tab)

  1. To approve the guarantees and security interests provided by the Company with respect to the credit facility availed by Doriath S.à.r.l. in the eventuality that Doriath S.à.r.l. ceases to be a wholly owned subsidiary of the CompanyMoreLess
    Ordinary
    99.94% for0.06% against

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

    Turnout: all 73.74% · promoters 100.00% · institutions 4.28% · other public 42.61%

  2. To approve the creation of security interests over the shares and assets of Doriath S.à.r.l. and Jayhawk Fine Chemicals Corporation to secure the credit facility availed by Doriath S.à.r.l.
    Special
    99.94% for0.06% against

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

    Turnout: all 73.74% · promoters 100.00% · institutions 4.28% · other public 42.61%

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, 9 Jan 2026, 3 resolutions

48,587 shareholders on the register on 5 Dec 2025; votes counted by CS Mohan Baid / M D Baid & Associates.The company's voting result (opens in a new tab)

  1. To approve the increase in the overall borrowing limits of the Company in accordance with the provisions of Section 180(1)(c) of the Companies Act, 2013
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 7.60% · other public 0.00%

    Turnout: all 73.08% · promoters 100.00% · institutions 3.46% · other public 41.88%

  2. To approve to sell, lease, mortgage or otherwise dispose of whole or substantially whole of the undertaking of the Company, in accordance with the provisions of Section 180(1)(a) of the Companies Act, 2013MoreLess
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 7.60% · other public 0.00%

    Turnout: all 73.08% · promoters 100.00% · institutions 3.46% · other public 41.88%

  3. To approve to make investment, give loan and provide guarantee and security in excess of the limits specified under Section 186 of the Companies Act, 2013
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 85.59% · other public 0.00%

    Turnout: all 73.08% · promoters 100.00% · institutions 3.46% · other public 41.88%

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, 22 Dec 2025, 1 resolution

46,682 shareholders on the register on 20 Nov 2025; votes counted by CS Mohan Baid / M D Baid & Associates.The company's voting result (opens in a new tab)

  1. To approve the appointment of Mr. Milind Madan Talathi (DIN: 07321958) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from September 25, 2025 to September 24, 2028MoreLess
    Special
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 12.46% · other public 0.00%

    Turnout: all 73.47% · promoters 100.00% · institutions 7.82% · other public 41.94%

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 Sep 2025, 8 resolutions

49,378 shareholders on the register on 19 Sep 2025; present: 4 promoters and 48 others; votes counted by CS Mohan Baid / M D Baid & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2025, the Audited Consolidated Financial Statements for the financial year ended March 31, 2025, the Auditors’ Report thereon and the Board of Directors’ Report of the Company for the financial year 2024-25.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  2. To appoint a Director in place of Dr. Kiran Chhotubhai Patel, Director (DIN: 08051053), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013, and being eligible, offers himself for re-appointment.MoreLess
    OrdinaryPromoters have an interest in it
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 8.22% · other public 0.00%

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  3. To appoint M/s. Natvarlal Vepari & Co., Chartered Accountants, Surat, as Statutory Auditor of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  4. To ratify the remuneration payable to the Cost Auditor for cost audit for the period from April 01, 2025 to March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  5. To appoint M/s. M.D. Baid & Associates, Practicing Company Secretaries, Surat, as Secretarial Auditor of the Company for the term of five years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  6. To re-appoint Mr. Anand Sureshbhai Desai (DIN: 00038442) as a Managing Director of the Company for a period of 5 (Five) years commencing from April 01, 2026 to March 31, 2031.
    SpecialPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 1.75% · other public 0.00%

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  7. To re-appoint Mrs. Mona Anandbhai Desai (DIN: 00038429) as a Wholetime Director of the Company for a period of 5 (Five) years commencing from April 01, 2026 to March 31, 2031.
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 1.11% · other public 0.00%

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

  8. To revise the remuneration of Dr. Anuj Hemantbhai Thakar, Whole-time Director (DIN: 10207732) of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.45% · other public 0.00%

    Turnout: all 76.03% · promoters 100.00% · institutions 19.76% · other public 47.72%

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, 23 Jan 2025, 4 resolutions

62,089 shareholders on the register on 20 Dec 2024; votes counted by CS Mohan Baid / M D Baid & Associates.The company's voting result (opens in a new tab)

  1. To approve the appointment of Mr. Ketan Paragji Desai (DIN: 08436290) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from November 09, 2024 to November 08, 2027MoreLess
    Special
    97.72% for2.28% against

    Against: promoters 0.00% · institutions 35.89% · other public 0.00%

    Turnout: all 86.00% · promoters 100.00% · institutions 59.45% · other public 65.34%

  2. To approve the appointment of Gen. Bikram Singh (Retd.) (DIN: 07259060) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from November 09, 2024 to November 08, 2027MoreLess
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.00%

    Turnout: all 86.00% · promoters 100.00% · institutions 59.45% · other public 65.34%

  3. To approve the appointment of Dr. Madhuri Ajit Sawant (DIN: 08468620) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from November 09, 2024 to November 08, 2027MoreLess
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.00%

    Turnout: all 86.00% · promoters 100.00% · institutions 59.45% · other public 65.34%

  4. To approve the appointment of Mr. Anand Rajeshwarrao Chatorikar (DIN: 03508333) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from December 03, 2024 to December 02, 2027MoreLess
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.00%

    Turnout: all 86.00% · promoters 100.00% · institutions 59.45% · other public 65.34%

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, 30 Sep 2024, 4 resolutions

Present: 5 promoters and 37 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2024, and the Audited Consolidated Financial Statements for the financial year ended March 31, 2024, the Auditors¿Report thereon and the Board of Directors' Report of the Company for the financial year 2023-24.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.00% · promoters 100.00% · institutions 59.49% · other public 65.22%

  2. To declare a final 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 0.00%

    Turnout: all 86.00% · promoters 100.00% · institutions 59.49% · other public 65.22%

  3. To appoint a Director in place of Mrs. Mona Anandbhai Desai, Whole-time Director (DIN: 00038429), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013, and being eligible, offers herself for re-appointmentMoreLess
    OrdinaryPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.36% · other public 0.00%

    Turnout: all 86.00% · promoters 100.00% · institutions 59.49% · other public 65.22%

  4. To ratify the remuneration payable to the Cost Auditor for cost audit for the period from April 01, 2024 to March 31, 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.00% · promoters 100.00% · institutions 59.49% · other public 65.22%

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.

Extraordinary general meeting, 6 Dec 2023, 4 resolutions

Present: 5 promoters and 43 others.The company's voting result (opens in a new tab)

  1. To issue and allot 19,04,540 Equity Shares on Preferential Basis to a promoter of the Company.
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.38% · other public 0.00%

    Turnout: all 84.92% · promoters 100.00% · institutions 51.03% · other public 66.05%

  2. To issue and allot 39,14,886 Convertible Warrants on preferential basis to non-promoters.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.38% · other public 0.00%

    Turnout: all 84.92% · promoters 100.00% · institutions 51.03% · other public 66.05%

  3. Appointment of Dr. Anuj Hemantbhai Thakar (DIN: 10207732) as a Director of the Company.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.00%

    Turnout: all 84.92% · promoters 100.00% · institutions 51.03% · other public 66.05%

  4. Appointment of Dr. Anuj Hemantbhai Thakar (DIN: 10207732) as a Whole-Time (Executive) Director of the Company.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.17% · other public 0.00%

    Turnout: all 84.92% · promoters 100.00% · institutions 51.03% · other public 66.05%

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 30 Sep 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2026, the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, the Auditors’ Report thereon and the Board of Directors’ Report of the Company for the financial year 2025-26MoreLess
    8 for0 against
  • To declare a final dividend on Equity Shares for the financial year ended March 31, 2026
    8 for0 against
  • To appoint a Director in place of Mr. Anand Sureshbhai Desai, Managing Director (DIN: 00038442), who retires by rotation as Director in terms of Section 152(6) of the Companies Act, 2013, and being eligible, offers himself for reappointment as DirectorMoreLess
    8 for0 against
  • To ratify the remuneration payable to the Cost Auditor for cost audit for the period from April 01, 2026 to March 31, 2027
    8 for0 against

Mutual fund votes, meeting of 7 May 2026, 15 fund houses

  • To approve the guarantees and security interests provided by the Company with respect to the credit facility availed by Doriath S.à.r.l. in the eventuality that Doriath S.à.r.l. ceases to be a wholly owned subsidiary of the CompanyMoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundNon-disclosure of required information (including basis for determination of price and other details) as per the Related Party Transaction Industry Standards mandated by SEBI. Governance & Transparency Concern: No clarity with regards to to the basis of arm’s length pricing.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundNon-Compliant with RPT Industry Standards and SEBI Circular: Non-disclosure of required information (including basis for determination of price and other details) as per the RPT Industry Standards mandated by SEBI. Governance & Transparency Concern: No clarity w.r.t. to the basis of arm’s length pricing.
    • Kotak Mahindra Mutual FundThe company seeks approval to continue providing loans, guarantees and security in connection with the credit facility availed by Doriath S. .r.l. (Doriath), a wholly owned subsidiary, in the event that it ceases to remain wholly owned due to occurrence of an event of default under the relevant facility documents or other corporate actions. The Company has positioned the transaction as a contingent or future related party transaction (triggered upon Doriath ceasing to be a wholly owned subsidiary), the approval is being sought from shareholders at present. Accordingly, the disclosures should be evaluated on the basis that the counterparty may not remain a wholly owned subsidiary, and therefore the exemption under regulation may not be available. Company requires to disclose the basic details of the transaction, details of previous transactions with the related party, Financial performance of the related party for the immediately preceding financial year, among others. In the absence of details, we do not support the resolution.
    • Nippon India Mutual FundGovernance and Transparency Concern: No clarity w.r.t. to the basis of arm’s length pricing.
    8 for7 against
  • To approve the creation of security interests over the shares and assets of Doriath S.à.r.l. and Jayhawk Fine Chemicals Corporation to secure the credit facility availed by Doriath S.à.r.l.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundGovernance concern: Lack of sufficient disclosures with regards to the proposed creation of security interest which may lead to disposal of shareholding in material subsidiary(ies).
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Lack of sufficient disclosures w.r.t. the proposed creation of security interest which may lead to disposal of shareholding in material subsidiary(ies).
    • Kotak Mahindra Mutual FundThe request seeks a blanket approval to create and enforce security over assets of (prospective) material subsidiaries and approval to dispose of stake in the same without sufficient disclosures with respect to the subsidiaries financials, implications of the security interest, impact on the Company and the specific details of the credit facilities that have been obtained among others. Such broad approvals does not give shareholders ability to assess the associated risks, particularly in downside scenarios. In the lack of transparency, we do not support the resolution
    • Nippon India Mutual FundGovernance Concern: Lack of sufficient disclosures w.r.t. the proposed creation of security interest which may lead to disposal of shareholding in material subsidiary(ies).
    8 for7 against
6 earlier meetings

Mutual fund votes, meeting of 9 Jan 2026, 6 fund houses

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

  • To approve to make investment, give loan and provide guarantee and security in excess of the limits specified under Section 186 of the Companies Act, 2013
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance & Transparency Concern: Blanket approval is being sought without adequate disclosures – No details have been provided with regards to the recipient Company, or the duration for which the approval is being sought.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance & Transparency Concern: Blanket approval is being sought without adequate disclosures – No details have been provided w.r.t. the recipient Company, or the duration for which the approval is being sought.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    1 for5 against
2 proposals not matched to one resolution
  • To borrow any sum or sums of monies, whether in Indian or foreign currency (including but not limited to foreign currency term loans, external commercial borrowings in foreign denominated currencies from any foreign source as prescribed under the relevant law/guidelines), from time to time, in any form including but not limited to by way of fund or non-fund based assistance, loans, financial facility from one or more banks, financial institutions, persons, bodies corporate, firms or other approved channels or through the issuance of debentures, commercial paper or such other form, upon such terms and conditions as to interest, repayment, or otherwise and with or without security, as the Board may think fit for the purposes of the Company’s business notwithstanding that the money or monies to be borrowed, together with the monies already borrowed by the Company, apart from temporary loans obtained from the Company’s bankers in the ordinary course of business, may exceed the aggregate of the paid-up share capital, free reserves and securities premium account of the Company, provided however, the total amount so borrowed (apart from the temporary loans obtained from the Company’s bankers in the ordinary course of business) shall not exceed at any point in time a sum equivalent to Rs. 4,500 Crores or the aggregate of the paid-up share capital, free reserves and securities premium account of the Company, whichever is higher.MoreLess
    6 for0 against
  • To creation of mortgages, charges, hypothecation, pledge and other encumbrances over all or any part of the movable or immovable properties, tangible or intangible assets, and undertakings of the Company, whether existing or future, in favour of any lender(s), bank(s), financial institution(s), debenture trustee(s), security trustee(s), bodies corporate, funds, investment vehicles, or any other persons, whether in India or abroad, whether or not they are creditors, shareholders, trustees, or holders of the Company’s securities, for securing any loan, borrowing, financial assistance, debentures, bonds, notes, fund-based or non-fund-based facilities or other instruments availed or to be availed by the Company in accordance with the provisions of the Act, from time to time, subject to the limit specified under Section 180(1)(c) of the Act, or the limit approved by the Members of the Company under Section 180(1)(c) of the Act, whichever is higher, together with interest, premium, further interest, liquidated damages, costs, charges and all other monies payable in respect thereof.MoreLess
    6 for0 against

Mutual fund votes, meeting of 22 Dec 2025, 6 fund houses

  • To approve the appointment of Mr. Milind Madan Talathi (DIN: 07321958) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from September 25, 2025 to September 24, 2028MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundDelayed shareholders’ approval proposed. Directorship ceased as on the date of 26th September, 2025 as the appointment was valid only till the date of the AGM.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern identified on the merit of proposed appointee. Non-Compliant with the Companies Act, 2013 and SEBI LODR, 2015: Delayed shareholders’ approval proposed. Directorship ceased as on the date of 26th September, 2025 as the appointment was valid only till the date of the AGM.
    2 for4 against

Mutual fund votes, meeting of 26 Sep 2025, 3 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2025, the Audited Consolidated Financial Statements for the financial year ended March 31, 2025, the Auditors’ Report thereon and the Board of Directors’ Report of the Company for the financial year 2024-25.MoreLess
    3 for0 against
  • To appoint a Director in place of Dr. Kiran Chhotubhai Patel, Director (DIN: 08051053), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013, and being eligible, offers himself for re-appointment.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNon-compliance with Regulation 17(1A) of SEBI LODR Regulations: The Company has proposed appointment through Ordinary Resolution instead of Special Resolution
    2 for1 against
  • To appoint M/s. Natvarlal Vepari & Co., Chartered Accountants, Surat, as Statutory Auditor of the Company.
    3 for0 against
  • To ratify the remuneration payable to the Cost Auditor for cost audit for the period from April 01, 2025 to March 31, 2026.
    3 for0 against
  • To appoint M/s. M.D. Baid & Associates, Practicing Company Secretaries, Surat, as Secretarial Auditor of the Company for the term of five years.
    3 for0 against
  • To re-appoint Mr. Anand Sureshbhai Desai (DIN: 00038442) as a Managing Director of the Company for a period of 5 (Five) years commencing from April 01, 2026 to March 31, 2031.
    3 for0 against
  • To re-appoint Mrs. Mona Anandbhai Desai (DIN: 00038429) as a Wholetime Director of the Company for a period of 5 (Five) years commencing from April 01, 2026 to March 31, 2031.
    3 for0 against
  • To revise the remuneration of Dr. Anuj Hemantbhai Thakar, Whole-time Director (DIN: 10207732) of the Company.
    3 for0 against

Mutual fund votes, meeting of 23 Jan 2025, 7 fund houses

  • To approve the appointment of Mr. Ketan Paragji Desai (DIN: 08436290) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from November 09, 2024 to November 08, 2027MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, quant Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. No concern on the merits of the Director. Governance Concern: Combined position of AC & NRC Chairperson.
    • quant Mutual FundAppointment compliant with law. No concern on the merits of the Director. Governance Concern: Combined position of AC & NRC Chairperson. A common director acting as a Chairperson of both the Committees may not be in the best interest of corporate governance, as the same might lead to a concentration of power in the hands of a single Director.
    3 for4 against
  • To approve the appointment of Gen. Bikram Singh (Retd.) (DIN: 07259060) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from November 09, 2024 to November 08, 2027MoreLess
    7 for0 against
  • To approve the appointment of Dr. Madhuri Ajit Sawant (DIN: 08468620) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from November 09, 2024 to November 08, 2027MoreLess
    7 for0 against
  • To approve the appointment of Mr. Anand Rajeshwarrao Chatorikar (DIN: 03508333) as Non-Executive Independent Director of the Company for a term of 3 (three) consecutive years commencing from December 03, 2024 to December 02, 2027MoreLess
    7 for0 against

Mutual fund votes, meeting of 30 Sep 2024, 11 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 Standalone Financial Statements for the financial year ended March 31, 2024, and the Audited Consolidated Financial Statements for the financial year ended March 31, 2024, the Auditors¿Report thereon and the Board of Directors' Report of the Company for the financial year 2023-24.MoreLess
    10 for0 against
  • To declare a final dividend on Equity Shares for the financial year ended March 31, 2024
    10 for0 against
  • To appoint a Director in place of Mrs. Mona Anandbhai Desai, Whole-time Director (DIN: 00038429), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013, and being eligible, offers herself for re-appointmentMoreLess
    11 for0 against
  • To ratify the remuneration payable to the Cost Auditor for cost audit for the period from April 01, 2024 to March 31, 2025
    9 for0 against
1 proposal not matched to one resolution
  • Ratification of remuneration of Rs. 2,50,000/- per annum, excluding GST, as recommended by the Audit Committee and approved by the Board of Directors of the Company, payable to M/s Bhanwarlal Gurjar and Co., Cost Accountants, Surat (Firm Registration No. 101540), Cost Auditor appointed by the Board of Directors, to conduct the audit of cost records of the Company for the financial year 2024 - 25 ending on March 31, 2025.MoreLess
    1 for0 against

Mutual fund votes, meeting of 6 Dec 2023, 9 fund houses

  • To issue and allot 19,04,540 Equity Shares on Preferential Basis to a promoter of the Company.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance concern: Inadequate Justification for making preferential offer to Promoters. Valuation Report not obtained.
    • Nippon India Mutual FundLack of clarity on why preferential offer is being made to promoters
    6 for3 against
  • To issue and allot 39,14,886 Convertible Warrants on preferential basis to non-promoters.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance concern: Warrants priced at par with equity shares. Valuation Report not obtained
    • Nippon India Mutual FundInadequate disclosure
    6 for3 against
  • Appointment of Dr. Anuj Hemantbhai Thakar (DIN: 10207732) as a Director of the Company.
    9 for0 against
  • Appointment of Dr. Anuj Hemantbhai Thakar (DIN: 10207732) as a Whole-Time (Executive) Director of the Company.
    9 for0 against

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

Stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake heldJainam Intermediates Private LimitedSince 18 Jul 2017

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldARIL Transmodal Logistic Private LimitedSince 28 Feb 2023

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldARIL Fluorospeciality Private LimitedSince 1 Aug 2023

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldAnupam Japan GKSince 5 Dec 2023

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldAnupam Europe AGSince 15 Jan 2024

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldAnupam USA LLCSince 23 Feb 2024

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldAnupam General Trading FZESince 13 Nov 2024

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldDoriath S.à r.l.Since 13 Feb 2026

    0.00% bought in the quarter; holding 100.00%, from 100.00%

4 more
  • Unlisted stake heldBatam S.à r.lSince 13 Feb 2026

    0.00% bought in the quarter; holding 15.00%, from 15.00%

  • Unlisted stake heldKansas HoldCo Inc.Since 27 Feb 2026

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldKansas HoldCo 1 Inc.Since 27 Feb 2026

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Unlisted stake heldJayhawk Fine Chemicals CorporationSince 27 Feb 2026

    0.00% bought in the quarter; holding 100.00%, from 100.00%

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

None open at any quarter's end.
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
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.

How money raised was used

Reported for the quarter to Dec 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesDec 2023, checked by CRISIL Ratings Limited550.00Part or full repayment of Loans429.69429.69No
Preferential IssuesDec 2023, checked by CRISIL Ratings Limited550.00General Corporate Purposes120.31120.31No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.