Apcotex Industries logo

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

NSE: APCOTEXINDBSE: 523694Industrial ProductsSmall Cap

Formerly Apcotex Lattices
Last close ₹520.45down ₹16.40 (3.05%)BSE ₹520.95

Share price at the NSE close on 23 Oct 2026. Previous close ₹536.85.

52-week range of traded prices to 23 Oct 2026
₹310.45Low, 30 Mar 2026₹712.00High, 30 Jul 2026
Market cap
₹2,698 Cr1,133rd largest listed
P/E
16.7
P/B
4.3
Dividend yield
1.54%
ROE
27.5%
ROCE
28.6%
Debt to equity
0.15
Volume, NSE
84,95748.0% delivered

Apcotex Industries board of directors

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

  • ChairpersonAtul ChokseyRelated to the promoter
  • Managing directorAbhiraj Choksey
  • Chief executiveRavishankar Sharma
  • Company Secretary and Compliance OfficerDrigesh Mittal

9 directors5 independent2 executive2 non-executive

  • Atul Choksey · ChairpersonNon-executive · joined Jan 1991 · 1 listed board
  • Abhiraj Choksey · Managing directorExecutive · joined Nov 2002 · reappointed Jul 2024 · 1 listed board · 1 committee seat
  • Amit ChokseyNon-executive · joined Nov 1997 · 1 listed board
  • Udayan ChoksiIndependent · joined Jul 2018 · reappointed Jul 2024 · 98 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 2 as chair
  • Achala DanaitIndependent · joined Jul 2023 · reappointed Jul 2023 · 38 months as independent · 1 listed board · 1 as independent
  • Priti SavlaIndependent · joined Jan 2024 · reappointed Jan 2024 · 32 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 3 as chair
  • Dinanath KholkarIndependent · joined Jun 2024 · reappointed Jun 2024 · 27 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Rajendra MariwalaIndependent · joined Feb 2025 · reappointed Feb 2025 · 20 months as independent · 6 listed boards · 6 as independent · 3 committee seats
  • Ravishankar Sharma · Chief executiveExecutive · joined May 2020 · reappointed May 2026 · 1 listed board · 1 committee seat

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

    • 29 Jul 20269 of 9 present5 independent · 83 days in between
    • 6 May 20269 of 9 present5 independent

  • Audit Committee

    Chair Udayan Choksi

    Priti Savla, Dinanath Kholkar

    • 29 Jul 20263 of 3 present3 independent · 83 days in between
    • 6 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Dinanath Kholkar

    Atul Choksey, Achala Danait, Rajendra Mariwala

    • 6 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Udayan Choksi

    Abhiraj Choksey, Ravishankar Sharma

    • 20 Aug 20263 of 3 present1 independent · 105 days in between

  • Risk Management Committee

    Chair Achala Danait

    Abhiraj Choksey, Ravishankar Sharma, Dinanath Kholkar

    • 17 Sep 20264 of 4 present2 independent · 27 days in between

  • Corporate Social Responsibility Committee

    Chair Atul Choksey

    Abhiraj Choksey, Achala Danait

    No meeting listed in the filing.

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.

  • Manubhai & Shah LLPPeer-review certificate valid to Feb 2028
1 earlier auditor
  • M/s Manubhai & Shah LLPNamed in the filing for the quarter to Jun 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.

Apcotex 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.Apcotex Industries dividend history

Annual general meeting, 25 Jun 2026

31,960 shareholders on the register on 18 Jun 2026; present: 28 promoters and 32 others; votes counted by Divya Momaya / M/s. D. S. Momaya & Co. LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Financial Statement of the Company for the year ended 31st March 2026 together with the Reports of the Board of Directors and Auditor thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

  2. To declare a final dividend on equity shares for the financial year ended 31st March 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

  3. To appoint a Director in place of Mr. Amit Choksey (DIN: 00001470) who retires by rotation and being eligible, offers himself for reappointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

  4. Re-Appointment of Mr. Ravishankar Sharma as an Executive Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.05%

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

  5. To approve the continuation of directorship of Mr. Atul Choksey (DIN: 00002102) as a Non-Executive Non-Independent Director (designated as Chairman) of the Company in terms of Regulation 17(1A) of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015.MoreLess
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.09%

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

  6. Approval of annual remuneration payable to single Non-Executive Director.
    SpecialPromoters have an interest in it
    99.35% for0.65% against

    Against: promoters 0.00% · institutions 22.84% · other public 0.32%

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

  7. Ratification of remuneration to Cost Auditors of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 60.53% · promoters 98.85% · institutions 66.50% · other public 3.25%

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

Annual general meeting, 26 Jun 2025, 8 resolutions

33,882 shareholders on the register on 19 Jun 2025; present: 26 promoters and 44 others; votes counted by Divya Momaya / M/s. D. S. Momaya & Co. LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Financial Statement of the Company for the year ended 31st March 2025 together with the Reports of the Board of Directors and Auditor thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.95%

  2. To declare a final dividend on equity shares for the financial year ended 31st March 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.95%

  3. To appoint a Director in place of Mr. Atul Choksey (DIN:00002102) who retires by rotation and being eligible, offers himself for reappointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.95%

  4. Appointment of Secretarial Auditor of the Company for a period of Five (5) years, from F.Y. 2025-26 to F.Y. 2029-30.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.95%

  5. Amendment of Memorandum and Articles of Association of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.94%

  6. Adoption of new set of Articles of Association of the Company.
    Special
    99.43% for0.57% against

    Against: promoters 0.00% · institutions 65.72% · other public 0.06%

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.94%

  7. Approval of annual remuneration payable to single Non-Executive Director.
    SpecialPromoters have an interest in it
    99.42% for0.58% against

    Against: promoters 0.00% · institutions 65.72% · other public 0.19%

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.94%

  8. Ratification of remuneration to Cost Auditors of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.30% · promoters 98.81% · institutions 36.86% · other public 4.94%

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.

Postal ballot, 9 Mar 2025, 1 resolution

34,966 shareholders on the register on 3 Feb 2025; votes counted by Divya Momaya / D.S. Momaya & Co. LLP.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Rajendra Mariwala (DIN: 00007246) as an Independent Director of the Company for a period of 5 (five) consecutive years with effect from February 1, 2025 till January 31, 2030.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.23%

    Turnout: all 58.70% · promoters 99.82% · institutions 29.22% · other public 0.59%

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, 29 Jul 2024, 8 resolutions

Present: 21 promoters and 45 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Financial Statement for the year ended 31st March 2024 along with Reports of the Board of Directors and Auditor thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.10% · promoters 98.85% · institutions 30.42% · other public 0.47%

  2. To declare a final dividend on equity shares for the financial year ended 31st March 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.23%

    Turnout: all 58.10% · promoters 98.85% · institutions 30.42% · other public 0.46%

  3. To appoint a director in place of Mr. Amit Choksey (DIN: 00001470) who retires by rotation and being eligible, offers himself for reappointment.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.23%

    Turnout: all 31.18% · promoters 52.63% · institutions 30.42% · other public 0.46%

  4. Appointment of Mr. Abhiraj Choksey (DIN: 00002120) as Vice-Chairman and Managing Director of the Company for a period of Five (5) years, effective from 6th May 2024.
    SpecialPromoters have an interest in it
    98.87% for1.13% against

    Against: promoters 0.00% · institutions 100.00% · other public 1.35%

    Turnout: all 31.18% · promoters 52.63% · institutions 30.42% · other public 0.46%

  5. Approval of annual remuneration payable to single Non-Executive Director.
    SpecialPromoters have an interest in it
    98.87% for1.13% against

    Against: promoters 0.00% · institutions 100.00% · other public 1.86%

    Turnout: all 31.18% · promoters 52.63% · institutions 30.42% · other public 0.46%

  6. Ratification of remuneration to Cost Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.23%

    Turnout: all 58.10% · promoters 98.85% · institutions 30.42% · other public 0.46%

  7. Re-appointment of Mr. Udayan Choksi (DIN: 02222020) as an Independent Director for the second term of 5 (Five) years w.e.f 29th July 2024.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.01%

    Turnout: all 58.10% · promoters 98.85% · institutions 30.42% · other public 0.46%

  8. Appointment of Mr. Dinanath Kholkar (DIN: 03089626) as an Independent Director of the Company for a period of 5 (Five) consecutive years with effect from 17th June 2024.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.01%

    Turnout: all 58.10% · promoters 98.85% · institutions 30.42% · other public 0.46%

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 Mar 2024, 1 resolution

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

  1. To appoint Ms. Priti Savla (Din: 00662996) as an Independent Director of the company for a period of 5 (five) consecutive years with effect from January 23, 2024 till January 22, 2029.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.77%

    Turnout: all 58.15% · promoters 98.67% · institutions 35.48% · other public 0.72%

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, 2 Sep 2023, 1 resolution

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

  1. To appoint Dr. Achala Danait (Din: 08730270) as an Independent Director of the company for a period of 5 (five) consecutive years with effect from July 26, 2023 till July 25, 2028.
    Special
    99.99% for0.01% against

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

    Turnout: all 59.10% · promoters 98.09% · institutions 55.39% · other public 3.97%

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, 19 Jun 2023, 8 resolutions

Present: 30 promoters and 59 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Financial Statement for the year ended 31st March 2023 along with Reports of the Board of Directors and Auditor thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.91% · promoters 97.98% · institutions 54.17% · other public 3.70%

  2. To declare a final dividend on equity shares, for thenfinancial year ended 31st March 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.91% · promoters 97.98% · institutions 54.17% · other public 3.70%

  3. To appoint a director in place of Mr. Atul Choksey (DIN:n00002102) who retires by rotation and being eligible,noffers himself for reappointment.
    OrdinaryPromoters have an interest in it
    99.26% for0.74% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.06%

    Turnout: all 45.64% · promoters 75.18% · institutions 54.17% · other public 3.70%

  4. To Appoint M/s. Manubhai & Shah LLP, Chartered Accountants as Statutory Auditors of the Company in place of the retiring auditor M/s. SGDG & Associates LLP, Chartered Accountants.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.91% · promoters 97.98% · institutions 54.17% · other public 3.70%

  5. Re-appointment of Mr. Ravishankar Sharma as an Executive Director
    Special
    99.47% for0.53% against

    Against: promoters 0.00% · institutions 93.05% · other public 0.01%

    Turnout: all 58.91% · promoters 97.98% · institutions 54.17% · other public 3.70%

  6. Approval of Annual Remuneration payable to Single Non-Executive Director
    SpecialPromoters have an interest in it
    98.95% for1.05% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.10%

    Turnout: all 32.00% · promoters 51.76% · institutions 54.17% · other public 3.70%

  7. Ratification of Remuneration to Cost Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.91% · promoters 97.98% · institutions 54.17% · other public 3.70%

  8. Authorization for Borrowing power of the Company and creation of charge/providing of security
    Special
    100.00% for0.00% against

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

    Turnout: all 58.91% · promoters 97.98% · institutions 54.17% · other public 3.70%

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, 14 Jun 2022, 6 resolutions

Present: 31 promoters and 50 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Financial Statement for the year ended 31st March 2022 along with Reports of the Board of Directors and Auditor thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.74% · promoters 98.86% · institutions 4.38% · other public 2.81%

  2. Declared final dividend on equity shares for the financial year ended 31st March 2022.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.83% · promoters 98.86% · institutions 4.38% · other public 3.04%

  3. Re-appointment of Retiring Director Mr. Amit Choksey
    OrdinaryPromoters have an interest in it
    98.91% for1.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 51.72%

    Turnout: all 58.50% · promoters 98.29% · institutions 4.38% · other public 3.04%

  4. Re-appointment of Mr. Abhiraj Choksey as managing director
    SpecialPromoters have an interest in it
    98.44% for1.56% against

    Against: promoters 0.00% · institutions 100.00% · other public 52.53%

    Turnout: all 45.52% · promoters 76.00% · institutions 4.38% · other public 3.04%

  5. Approval of Annual Remuneration payable to Single Non-Executive Director
    SpecialPromoters have an interest in it
    98.36% for1.64% against

    Against: promoters 0.00% · institutions 100.00% · other public 55.77%

    Turnout: all 45.56% · promoters 76.06% · institutions 4.38% · other public 3.04%

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

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

    Turnout: all 58.83% · promoters 98.86% · institutions 4.38% · other public 3.04%

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.

Mutual fund votes, meeting of 25 Jun 2026, 2 fund houses

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

  • To receive, consider and adopt the Financial Statement of the Company for the year ended 31st March 2026 together with the Reports of the Board of Directors and Auditor thereon.
    2 for0 against
  • To declare a final dividend on equity shares for the financial year ended 31st March 2026.
    2 for0 against
  • To appoint a Director in place of Mr. Amit Choksey (DIN: 00001470) who retires by rotation and being eligible, offers himself for reappointment.
    2 for0 against
  • Re-Appointment of Mr. Ravishankar Sharma as an Executive Director of the Company.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNon-compliant Board u/s 152 of the Act w.r.t. requisite number of directors, liable to retire by rotation.
    1 for1 against
  • To approve the continuation of directorship of Mr. Atul Choksey (DIN: 00002102) as a Non-Executive Non-Independent Director (designated as Chairman) of the Company in terms of Regulation 17(1A) of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundChairman related to MD. Skewed and Excessive Remuneration and proposed director is NRC member. Non-compliant Board u/s 152 of the Act.
    1 for1 against
  • Ratification of remuneration to Cost Auditors of the Company.
    2 for0 against
1 proposal not matched to one resolution
  • Payment of Commission of Rs. 135 Lakhs to Mr. Atul Choksey (DIN: 00002102) Chairman of the Company, out of total commission of Rs. 195 Lakhs for Non-Executive Directors of the Company, as computed under Section 198 of the Companies Act, 2013.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundChairman related to MD. Skewed and Excessive Remuneration and proposed director is NRC member.
    1 for1 against

Mutual fund votes, meeting of 26 Jun 2025, 1 fund house

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

  • To receive, consider and adopt the Financial Statement of the Company for the year ended 31st March 2025 together with the Reports of the Board of Directors and Auditor thereon.
    1 for0 against
  • To declare a final dividend on equity shares for the financial year ended 31st March 2025.
    1 for0 against
  • To appoint a Director in place of Mr. Atul Choksey (DIN:00002102) who retires by rotation and being eligible, offers himself for reappointment.
    1 for0 against
  • Appointment of Secretarial Auditor of the Company for a period of Five (5) years, from F.Y. 2025-26 to F.Y. 2029-30.
    1 for0 against
  • Amendment of Memorandum and Articles of Association of the Company.
    1 for0 against
  • Adoption of new set of Articles of Association of the Company.
    1 for0 against
  • Ratification of remuneration to Cost Auditors of the Company.
    1 for0 against
1 proposal not matched to one resolution
  • Payment of Commission of Rs. 121 Lakhs to Mr. Atul Choksey (DIN: 00002102) - Chairman of the Company, out of total commission of Rs. 161 Lakhs for Non-Executive Directors of the Company, as computed under Section 198 of the Companies Act, 2013.MoreLess
    1 for0 against
3 earlier meetings

Mutual fund votes, meeting of 7 Mar 2024, 2 fund houses

  • To appoint Ms. Priti Savla (Din: 00662996) as an Independent Director of the company for a period of 5 (five) consecutive years with effect from January 23, 2024 till January 22, 2029.
    2 for0 against

Mutual fund votes, meeting of 2 Sep 2023, 1 fund house

  • To appoint Dr. Achala Danait (Din: 08730270) as an Independent Director of the company for a period of 5 (five) consecutive years with effect from July 26, 2023 till July 25, 2028.
    1 for0 against

Mutual fund votes, meeting of 14 Jun 2022, 1 fund house

  • To receive, consider and adopt the Financial Statement for the year ended 31st March 2022 along with Reports of the Board of Directors and Auditor thereon.
    1 for0 against
  • Declared final dividend on equity shares for the financial year ended 31st March 2022.
    1 for0 against
  • Re-appointment of Retiring Director Mr. Amit Choksey
    1 for0 against
  • Re-appointment of Mr. Abhiraj Choksey as managing director
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundAbhiraj Choksey, 44, is the Managing Director of Apcotex Industries Limited (AIL) since 2010. The company proposes to reappoint him as Managing Director for three years from 1 May 2022.The proposed remuneration for Abhiraj Choksey in FY23 is Rs. 17.5 mn, which is in line with the peers and commensurate with the size and complexity of business. However variable pay (even though not paid for last five years) has not been defined, nor linked to performance and neither has it been capped. The company will also reimburse expenses incurred by his spouse/attendant for travelling/boarding/loading with him during business trips. Security cover expenses and medical expenses for his family will also be borne by AIL. We are of the opinion that attendant / family expenses as companion should be borne by the employee and not the company.
    0 for1 against
  • Approval of Annual Remuneration payable to Single Non-Executive Director
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundThe company proposes to pay Atul Choksey commission aggregating Rs. 11.1 mn, which is more than 50% of the aggregate pool of Rs. 14.3 mn that has been earmarked for commission payable to non-executive directors for FY22. We acknowledge that Atul Choksey plays an important role in driving long term business strategy and performance as promoter. Notwithstanding, his proposed commission of Rs. 11.1 mn is higher than the remuneration of Ravishankar Sharma as Executive Director, who received Rs. 7.2 mn as FY22 remuneration. Further, his remuneration is close to that of Managing Director Abhiraj Choksey, who received Rs. 14.1 mn as FY22 remuneration. We do not support such remuneration structures where a Non-Executive Directors receives higher remuneration that other Executives on the board since it may have material implications for the chain of command within the organization.
    0 for1 against
  • Ratification of remuneration to Cost Auditor
    1 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

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
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.