Apar Industries logo

Apar Industries CEO, MD, chairman, board of directors and AGM

NSE: APARINDSBSE: 532259Electrical EquipmentMid Cap

Last close ₹14,379.00down ₹334.00 (2.27%)BSE ₹14,355.15

Share price at the NSE close on 23 Oct 2026. Previous close ₹14,713.00.

52-week range of traded prices to 23 Oct 2026
₹6,801.00Low, 21 Jan 2026₹19,265.00High, 22 Sep 2026
Market cap
₹60,208 Cr209th largest listed
P/E
51.0
P/B
11.2
Dividend yield
0.42%
ROE
23.9%
ROCE
31.9%
Debt to equity
0.16
Volume, NSE
1,92,89238.7% delivered

Apar Industries 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 director and CEOKushal N. Desai
  • Managing directorChaitanya N. Desai
  • Company SecretarySanjaya Kunder

7 directors4 independent3 executive

  • Kushal N. Desai · Chairperson and managing director and CEOExecutive · joined Mar 1999 · reappointed Jan 2023 · 1 listed board · 2 committee seats
  • Chaitanya N. Desai · Managing directorExecutive · joined May 1993 · reappointed Jan 2023 · 1 listed board · 1 committee seat
  • Rajesh Narayan SehgalIndependent · joined Apr 2017 · reappointed Aug 2022 · 107 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • Rishabh Kushal DesaiExecutive · joined May 2019 · reappointed May 2019 · 1 listed board
  • Kaushal Jaysingh SampatIndependent · joined Jan 2022 · reappointed Jan 2022 · 53 months as independent · 1 listed board · 1 as independent · 3 committee seats, 2 as chair
  • Nirupa Kiran BhattIndependent · joined Oct 2023 · reappointed Oct 2023 · 32 months as independent · 1 listed board · 1 as independent · 3 committee seats
  • Pitamber ShivnaniIndependent · joined Jan 2026 · reappointed Jan 2026 · 5 months as independent · 1 listed board · 1 as independent · 2 committee seats

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

    • 30 Jun 20267 of 7 present4 independent · 32 days in between
    • 28 May 20267 of 7 present4 independent · 70 days in between
    • 18 Mar 20267 of 7 present4 independent · 47 days in between
    • 29 Jan 20267 of 7 present4 independent

  • Audit Committee

    Chair Rajesh Narayan Sehgal

    Kaushal Jaysingh Sampat, Nirupa Kiran Bhatt, Kushal N. Desai, Pitamber Shivnani

    • 28 May 20265 of 5 present4 independent · 70 days in between
    • 18 Mar 20265 of 5 present4 independent · 47 days in between
    • 29 Jan 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Rajesh Narayan Sehgal

    Kaushal Jaysingh Sampat, Nirupa Kiran Bhatt, Pitamber Shivnani

    • 28 May 20264 of 4 present4 independent · 118 days in between
    • 29 Jan 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Rajesh Narayan Sehgal

    Kushal N. Desai, Chaitanya N. Desai, Pitamber Shivnani

    • 28 May 20264 of 4 present2 independent · 118 days in between
    • 29 Jan 20264 of 4 present2 independent

  • Risk Management Committee

    Chair Kushal N. Desai

    Chaitanya N. Desai, Rajesh Narayan Sehgal, Kaushal Jaysingh Sampat, Nirupa Kiran Bhatt, Pitamber Shivnani, Vinayak K Lele, Ramesh S Iyer

    • 28 May 20266 of 6 present4 independent · 118 days in between
    • 29 Jan 20265 of 5 present3 independent

  • Corporate Social Responsibility Committee

    Chair Kushal N. Desai

    Chaitanya N. Desai, Nirupa Kiran Bhatt

    • 28 May 20263 of 3 present1 independent · 70 days in between
    • 18 Mar 20263 of 3 present1 independent · 47 days in between
    • 29 Jan 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 Jun 2026.

  • C N K & Associates LLPPeer-review certificate valid to Jul 2027

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.

Apar Industries 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.Apar Industries dividend history

Annual general meeting, 21 Sep 2026

1,01,065 shareholders on the register on 14 Sep 2026; present: 14 promoters and 57 others; votes counted by HEMANG MEHTA / H M MEHTA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a. 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 the Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 86.51% · promoters 100.00% · institutions 85.68% · other public 0.26%

  2. To declare dividend at the rate of Rs. 60/- (600%) per Equity Share of face Value of Rs. 10/- each, fully paid up, for the financial year 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.54% · promoters 100.00% · institutions 85.79% · other public 0.26%

  3. To appoint a Director in place of Mr. Chaitanya Narendra Desai (DIN:00008091), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    97.06% for2.94% against

    Against: promoters 0.00% · institutions 8.17% · other public 0.54%

    Turnout: all 86.54% · promoters 100.00% · institutions 85.78% · other public 0.26%

  4. Payment of remuneration to the Cost Auditors of the Company for the Financial Year 2026-2027.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.99%

    Turnout: all 86.54% · promoters 100.00% · institutions 85.78% · other public 0.26%

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, 30 Jul 2026, 1 resolution

1,01,486 shareholders on the register on 23 Jul 2026; present: 14 promoters and 42 others; votes counted by HEMANG MEHTA / H M MEHTA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To approve raising of funds through issuance of securities of the Company upto Rs. 2,500 Crores.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.03% · other public 0.63%

    Turnout: all 87.86% · promoters 100.00% · institutions 89.66% · other public 0.15%

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 Mar 2026, 1 resolution

89,681 shareholders on the register on 6 Feb 2026; votes counted by Hemang Mehta / H. M. Mehta & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Pitamber Shivnani (DIN: 05187407) as an Independent Director (Non-Executive) of the Company.
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.13% · other public 3.60%

    Turnout: all 88.41% · promoters 100.00% · institutions 92.11% · other public 0.22%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 5 Aug 2025, 7 resolutions

1,13,529 shareholders on the register on 29 Jul 2025; present: 14 promoters and 54 others; votes counted by Hemang Mehta / H. M. Mehta & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a. 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 the Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.95%

    Turnout: all 85.97% · promoters 100.00% · institutions 90.23% · other public 0.15%

  2. To declare dividend at the rate of Rs. 51 (510%) per Equity Share of face Value of Rs. 10/- each, fully paid up, for the FY 2024-25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 85.97% · promoters 100.00% · institutions 90.24% · other public 0.15%

  3. To appoint a Director in place of Mr. Kushal Narendra Desai (DIN: 00008084), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    92.28% for7.72% against

    Against: promoters 0.00% · institutions 23.56% · other public 1.35%

    Turnout: all 85.93% · promoters 100.00% · institutions 90.10% · other public 0.15%

  4. Re-appointment of M/s. C N K & Associates LLP, Chartered Accountants, as Statutory Auditors of the Company for a consecutive period of 5 years.
    Ordinary
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 1.70% · other public 2.91%

    Turnout: all 85.97% · promoters 100.00% · institutions 90.23% · other public 0.15%

  5. Appointment of Mr. Hemang Mehta, a proprietor of H. M. Mehta & Associates, Peer-reviewed Practicing Company Secretary, as Secretarial Auditor of the Company for a term of 5 (Five) consecutive years and fix their remuneration.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.63%

    Turnout: all 85.97% · promoters 100.00% · institutions 90.23% · other public 0.15%

  6. Appointment of Mr. Rishabh Kushal Desai (DIN: 08444660) as Whole-Time Director of the Company for a period of 5 (five) years with effect from September 1, 2025 to August 31, 2030 (both days inclusive) and fix the remuneration.MoreLess
    Special
    93.65% for6.35% against

    Against: promoters 0.00% · institutions 19.43% · other public 1.33%

    Turnout: all 85.83% · promoters 100.00% · institutions 89.77% · other public 0.15%

  7. Payment of remuneration to the Cost Auditors of the Company for the FY 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.97% · promoters 100.00% · institutions 90.23% · other public 0.15%

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, 8 Mar 2025, 1 resolution

1,19,618 shareholders on the register on 31 Jan 2025; votes counted by HEMANG MEHTA / H. M. MEHTA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Approval for payment of remuneration to Mr. Yuvraj C. Mehra, a Related Party holding office or place of profit.
    OrdinaryPromoters have an interest in it
    89.68% for10.32% against

    Against: promoters 0.00% · institutions 10.33% · other public 5.92%

    Turnout: all 27.83% · promoters 0.00% · institutions 89.53% · other public 0.41%

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, 18 Jan 2025, 4 resolutions

1,05,929 shareholders on the register on 13 Dec 2024; votes counted by HEMANG MEHTA / H. M. MEHTA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Approval for termination of Apar Industries Limited Stock Option Plan 2007.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.06% · other public 0.99%

    Turnout: all 86.18% · promoters 100.00% · institutions 90.41% · other public 0.69%

  2. Approval of APAR Industries Limited - Employees Stock Appreciation Rights Plan 2024.
    Special
    87.82% for12.18% against

    Against: promoters 0.00% · institutions 37.01% · other public 8.05%

    Turnout: all 86.18% · promoters 100.00% · institutions 90.41% · other public 0.69%

  3. Approval for grant of Employee Stock Appreciation Rights to the Employees of the subsidiary company(ies) of the Company under ‘APAR Industries Limited - Employees Stock Appreciation Rights Plan 2024’.
    Special
    87.82% for12.18% against

    Against: promoters 0.00% · institutions 37.01% · other public 5.46%

    Turnout: all 86.18% · promoters 100.00% · institutions 90.41% · other public 0.69%

  4. Alteration to the Object Clause of the Memorandum of Association of the Company by inserting new Object Clause No. A (6) after Clause No. A (5).
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.38%

    Turnout: all 86.18% · promoters 100.00% · institutions 90.41% · other public 0.69%

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, 27 Aug 2024, 4 resolutions

Present: 14 promoters and 52 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: na. the Audited Financial Statements of the Company for the financial year ended March 31, 2024, together with the Reports of the Board of Directors n and the Auditors thereon; andnb. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024, together with the Report of the Auditors n thereon.MoreLess
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.13%

    Turnout: all 86.32% · promoters 100.00% · institutions 90.21% · other public 1.05%

  2. To declare dividend at the rate of Rs. 51/- (510%) per Equity Share of face Value of Rs. 10/- each, fully paid up, for the financial year 2023-24.n
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.47% · promoters 100.00% · institutions 90.70% · other public 1.05%

  3. To appoint a Director in place of Mr. Rishabh K. Desai (DIN: 08444660), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    95.16% for4.84% against

    Against: promoters 0.00% · institutions 14.62% · other public 0.35%

    Turnout: all 86.47% · promoters 100.00% · institutions 90.68% · other public 1.05%

  4. Payment of remuneration to Cost Auditors of the Company for the Financial Year 2024-25
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.55%

    Turnout: all 86.47% · promoters 100.00% · institutions 90.68% · other public 1.05%

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.

Postal ballot, 9 Jan 2024, 1 resolution

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

  1. Appointment of Smt. Nirupa Kiran Bhatt (DIN: 02006089) as an Independent Director (Non-Executive) of the Company.
    Special
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 0.45% · other public 0.70%

    Turnout: all 84.72% · promoters 100.00% · institutions 90.49% · other public 0.44%

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

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

  • To receive, consider and adopt: a. 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 the Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    15 for0 against
  • To declare dividend at the rate of Rs. 60/- (600%) per Equity Share of face Value of Rs. 10/- each, fully paid up, for the financial year 2025-26.
    15 for0 against
  • To appoint a Director in place of Mr. Chaitanya Narendra Desai (DIN:00008091), who retires by rotation and being eligible, offers himself for re-appointment.
    15 for0 against
  • Payment of remuneration to the Cost Auditors of the Company for the Financial Year 2026-2027.
    11 for0 against
2 proposals not matched to one resolution
  • 4) Approve remuneration of Rs. 145,000 payable to Rahul Ganesh Dugal & Co, as cost auditor for FY27
    1 for0 against
  • Approve remuneration of Rs. 145,000 payable to Rahul Ganesh Dugal & Co, as cost auditor for FY27
    3 for0 against

Mutual fund votes, meeting of 30 Jul 2026, 15 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To approve raising of funds through issuance of securities of the Company upto Rs. 2,500 Crores.
    15 for0 against
6 earlier meetings

Mutual fund votes, meeting of 14 Mar 2026, 27 fund houses

  • Appointment of Mr. Pitamber Shivnani (DIN: 05187407) as an Independent Director (Non-Executive) of the Company.
    27 for0 against

Mutual fund votes, meeting of 5 Aug 2025, 26 fund houses

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

  • To receive, consider and adopt: a. 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 the Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors thereon.MoreLess
    26 for0 against
  • To declare dividend at the rate of Rs. 51 (510%) per Equity Share of face Value of Rs. 10/- each, fully paid up, for the FY 2024-25.
    26 for0 against
  • To appoint a Director in place of Mr. Kushal Narendra Desai (DIN: 00008084), who retires by rotation and being eligible, offers himself for re-appointment.
    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: Dual position of Chairman & Managing Director may lead to Concentration of power in the hands of a single person.
    • Baroda BNP Paribas Mutual FundCompliant with law, no concern has been identified regarding the profile, remuneration, time commitment and attendance performance of Mr. Kushal Narendra Desai. However, combining the position of MD with that of the Board chairman may result in concentration of powers in the hands of a single person.
    • Edelweiss Mutual FundComplaint with law: No concern on the merits and attendance. Governance concern: Dual position of CMD. Concentration of power in the hands of a single person.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundComplaint with law: No concern on the merits and attendance. Governance concern: Dual position of Chairman & MD may lead to Concentration of power in the hands of a single person.
    19 for7 against
  • Re-appointment of M/s. C N K & Associates LLP, Chartered Accountants, as Statutory Auditors of the Company for a consecutive period of 5 years.
    26 for0 against
  • Appointment of Mr. Hemang Mehta, a proprietor of H. M. Mehta & Associates, Peer-reviewed Practicing Company Secretary, as Secretarial Auditor of the Company for a term of 5 (Five) consecutive years and fix their remuneration.MoreLess
    26 for0 against
  • Appointment of Mr. Rishabh Kushal Desai (DIN: 08444660) as Whole-Time Director of the Company for a period of 5 (five) years with effect from September 1, 2025 to August 31, 2030 (both days inclusive) and fix the remuneration.MoreLess
    Against Bank of India Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund
    • Bank of India Mutual FundRishabh Desai, 33, is the son of Kushal Desai, promoter and Chairperson and Managing Director of the company. He has been associated with the company as Non-Executive Non-Independent Director since 7 May 2019 and is also Executive Director of Petroleum Specialities FZE, Sharjah, UAE, (PSF) which is a step down overseas wholly-owned subsidiary of APAR Industries Limited. He holds a Bachelor of Science degree from Babson College. He worked for a year in Ergon Inc., an oil refinery in Mississippi, USA in 2014. He joined Apar Industries from September 2015. Rishabh Desai drew a remuneration of Rs. 14.3 mn in FY25 as Executive Director of Petroleum Specialities FZE, Sharjah, UAE (PSF), a step-down wholly owned subsidiary of Apar Industries Limited. The company proposes to appoint him as Executive Director of Apar Industries Limited. We estimate his aggregate remuneration at Rs. 28.3 mn (Rs. 25.3 mn from Apar Industries and Rs. 3.4 mn from PSF) which is high given his experience. The company must cap the commission payable to him in absolute terms and disclose the performance metrics that determine his variable pay. The company must also cap the reimbursement of medical expenses at actuals for self and family. We do not support the resolution.
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: The board independence norms are not met (as per our reclassification) and Rishabh Desai is a non-independent director nominee.
    • Invesco Mutual FundRishabh Desai, 33, is the son of Kushal Desai, promoter and Chairperson and Managing Director of the company. He has been associated with the company as Non-Executive Non-Independent Director since 7 May 2019 and is also Executive Director of Petroleum Specialities FZE, Sharjah, UAE, (PSF) which is a step down overseas wholly-owned subsidiary of APAR Industries Limited. He holds a Bachelor of Science degree from Babson College. He worked for a year in Ergon Inc., an oil refinery in Mississippi, USA in 2014. He joined Apar Industries from September 2015.Rishabh Desai drew a remuneration of Rs. 14.3 mn in FY25 as Executive Director of Petroleum Specialities FZE, Sharjah, UAE (PSF), a step-down wholly owned subsidiary of Apar Industries Limited. The company proposes to appoint him as Executive Director of Apar Industries Limited. We estimate his aggregate remuneration at Rs. 28.3 mn (Rs. 25.3 mn from Apar Industries and Rs. 3.4 mn from PSF) which is high given his experience. The company must cap the commission payable to him in absolute terms and disclose the performance metrics that determine his variable pay. The company must also cap the reimbursement of medical expenses at actuals for self and family. We do not support the resolution
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    22 for4 against
  • Payment of remuneration to the Cost Auditors of the Company for the FY 2025-26.
    5 for0 against
1 proposal not matched to one resolution
  • Ratification of remuneration of Rs. 1,32,000/- payable to M/s. Rahul Ganesh Dugal and Co., a Proprietary Firm of Cost Accountant, the Cost Auditor (having Firm Registration no. 103425 and Membership no. 36459), appointed by the Board of Directors of the Company, to conduct the audit of the cost records of the Company for the financial year ending March 31, 2026.MoreLess
    21 for0 against

Mutual fund votes, meeting of 8 Mar 2025, 20 fund houses

  • Approval for payment of remuneration to Mr. Yuvraj C. Mehra, a Related Party holding office or place of profit.
    Against Groww Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant under Companies Act, 2013: Prior approval not sought. Governance & Transparency Concern: Basis of arriving at remuneration not disclosed; remuneration is not comparable with similar grade employees.
    • Invesco Mutual FundYuvraj C. Mehra is the son in law of Kushal N. Desai, Chairperson and Managing Director & CEO of the company. He has about five years of experience in product management, AI, data, marketing, e-commerce, and digital transformation. Prior to joining Apar Industries Limited he was working with Reckitt Benckiser as Technical Innovation Lead. He holds a degree in Master of Business Administration / Artificial Intelligence from Northwestern University, USA, and Bachelor of Science in Systems Engineering & Design from university of Illinois, USA. The company seeks approval to appoint him as Senior Deputy General Manager – Information Technology and Automation with an annual remuneration of Rs. 5.51 mn capped at Rs. 12.0 mn during his tenure of appointment till 19 January 2030. The maximum proposed remuneration is comparable to the FY24 remuneration of the CFO and higher than the FY24 remuneration paid to the Company Secretary. While he is well qualified, the company must clarify how they have benchmarked his proposed remuneration. It is unclear if other employees at the same level of experience are in the same compensation bracket. Therefore, we are unable to support the resolution
    17 for3 against

Mutual fund votes, meeting of 18 Jan 2025, 20 fund houses

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

  • Approval for termination of Apar Industries Limited Stock Option Plan 2007.
    20 for0 against
  • Approval of APAR Industries Limited - Employees Stock Appreciation Rights Plan 2024.
    Against HDFC Mutual Fund
    • HDFC Mutual FundExercise price of the ESOP is at a significant discount to current market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
    18 for1 against
  • Approval for grant of Employee Stock Appreciation Rights to the Employees of the subsidiary company(ies) of the Company under ‘APAR Industries Limited - Employees Stock Appreciation Rights Plan 2024’.
    Against HDFC Mutual Fund
    • HDFC Mutual FundExercise price of the ESOP is at a significant discount to current market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
    18 for1 against
  • Alteration to the Object Clause of the Memorandum of Association of the Company by inserting new Object Clause No. A (6) after Clause No. A (5).
    20 for0 against
2 proposals not matched to one resolution
  • To Authorize Board of Directors for introduction and implementation of ‘APAR Industries Limited - Employees Stock Appreciation Rights Plan 2024” (“ESAR 2024”/ “Plan”), to create and grant from time to time, in one or more tranches, employee stock appreciation rights (“ESARs”), to or for the benefit of eligible employee(s) working with the Company, in or outside India, as determined by the Board within the meaning of the Plan, exercisable into not more than 15,90,464 Equity shares (Fifteen Lakh Ninety Thousand Four Hundred and Sixty Four) of face value of Rs.10/- (Rupees Ten) each fully paid-upMoreLess
    1 for0 against
  • To Authorize Board of Directors to create, offer and grant from time to time, in one or more tranches, such number of employee stock appreciation rights (“ESARs”) under ‘APAR Industries Limited - Employees Stock Appreciation Rights Plan 2024’ (“ESAR 2024”/ “Plan”) within the limit prescribed therein, to or for the benefit of eligible employee(s) of any subsidiary company(ies) of the Company, whether in or outside IndiaMoreLess
    1 for0 against

Mutual fund votes, meeting of 27 Aug 2024, 20 fund houses

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

  • To receive, consider and adopt: na. the Audited Financial Statements of the Company for the financial year ended March 31, 2024, together with the Reports of the Board of Directors n and the Auditors thereon; andnb. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024, together with the Report of the Auditors n thereon.MoreLess
    19 for0 against
  • To declare dividend at the rate of Rs. 51/- (510%) per Equity Share of face Value of Rs. 10/- each, fully paid up, for the financial year 2023-24.n
    20 for0 against
  • To appoint a Director in place of Mr. Rishabh K. Desai (DIN: 08444660), who retires by rotation and being eligible, offers himself for re-appointment.
    20 for0 against
  • Payment of remuneration to Cost Auditors of the Company for the Financial Year 2024-25
    6 for0 against
2 proposals not matched to one resolution
  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Ratification of remuneration of Rs. 1,32,000/- payable to M/s. Rahul Ganesh Dugal and Co., a Proprietary Firm of Cost Accountant, the Cost Auditor having Firm Registration no. 103425 and Membership no. 36459, appointed by the Board of Directors of the Company, to conduct the audit of the cost records of the Company for the financial year ending March 31, 2025.MoreLess
    14 for0 against

Mutual fund votes, meeting of 9 Jan 2024, 17 fund houses

  • Appointment of Smt. Nirupa Kiran Bhatt (DIN: 02006089) as an Independent Director (Non-Executive) of the Company.
    17 for0 against

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

Fines and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake heldAPAR USA LLC, Wholly Owned Subsidiary of the CompanySince 24 Apr 2026

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

  • Unlisted stake heldClean Max Rudra Private LimitedSince 22 Apr 2026

    0.00% bought in the quarter; holding 26.00%, from 26.00%

  • Fine or penaltyTax Officer, RajasthanSince 12 Jun 2026

    Order of demand of Penalty No. RFN:MA240626091047T dated 12.06.2026

    Transaction Type wrongly declared as "Regular" instead of "Bill to Ship to" in E-way Bill. Proposed 200% penalty u/s 129 of the CGST Act of Rs. 30,48,058/-. Appeal filed on 06.07.2026 is pending.
  • Fine or penaltyTax Officer, Madhya PradeshSince 24 Jun 2026

    Show Cause Notice No. 423/2018-19 dated 23.08.2018 issued u/s 129(1) of MP GST Act 2017

    Consignment was detained/ seized on 18.08.2018 due to error in e-way bill. Appeal filed against Notice before the Joint Commissioner (Appeals), Bhopal, MP, and the same was rejected ex-parte on 24.06.2026. Demanded of Tax of Rs. 4,21,663 + Penalty of Rs. 4,21,663/-MoreLess
  • Fine or penaltyThe Superintendent, Raigad Audit. (Audit)Since 23 Jun 2026

    Show cause Notice No. 42/GST AUDIT RGD/Supt/GR-03/CIR-III/2025-26 dated 23.06.2026 issued by Superintendent, Raigad Audit

    Allegation of distribution of inadmissable ITC of Rs. 4,14,000/- to all distinct person by H.O. on which penalty was imposed
  • Fine or penaltyAsst. Commissioner of State Tax- Kharagpur (South Bengal)Since 13 May 2026

    FORM GST MOV-07 Memo No. 373/KGPZ/26-27 dated 13.05.2026 issued by Asst. Commissioner of State Tax-Kharagpur (South Bengal)

    Consignment was detained/ seized on 11.05.2026 due to wrong e-way data not matched with Invoice issued and difference in Qty. Imposed Penalty of CGST + SGST Rs. 2,83,517/- each
  • Fine or penaltySuperintendent Hyderabad AuditSince 9 Mar 2026

    Audit Observation in Form GST ADT-02

    Allegation of Short payment of RCM liability of CGST & SGST of Rs. 1,13,982/- each and Short declaration and short payment of Outward liability Demand of Tax of CGST Rs. 4,19,792 + SGST Rs. 4,19,792 and Interest u/s 50 and penalty as applicable u/s 74 read with section 122(2)(b)MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 7 complaints open, quarter to Dec 2024.
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
Yes
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.