Apex Frozen Foods logo

Apex Frozen Foods MD, chairman, board of directors and AGM

NSE: APEXBSE: 540692Food ProductsSmall Cap

Last close ₹302.70down ₹7.55 (2.43%)BSE ₹302.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹310.25.

52-week range of traded prices to 23 Oct 2026
₹232.00Low, 7 Nov 2025₹514.50High, 21 Apr 2026
Market cap
₹946 Cr1,379th largest listed
P/E
18.4
P/B
1.8
Dividend yield
0.83%
ROE
10.1%
ROCE
9.7%
Debt to equity
0.01
Volume, NSE
1,22,08751.5% delivered

Apex Frozen Foods 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

  • ChairpersonSATYANARAYANA MURTHY KARUTURIRelated to the promoter
  • Managing directorKARUTURI SUBRAHMANYA CHOWDARY

6 directors3 independent3 executive

  • SATYANARAYANA MURTHY KARUTURI · ChairpersonExecutive · joined Mar 2012 · reappointed Dec 2025 · 1 listed board
  • KARUTURI SUBRAHMANYA CHOWDARY · Managing directorExecutive · joined Mar 2012 · reappointed Dec 2025 · 1 listed board · 2 committee seats
  • KARUTURI NEELIMA DEVIExecutive · joined Dec 2013 · reappointed Feb 2026 · 1 listed board · 1 committee seat
  • DEEPTHI TALLURIIndependent · joined Mar 2020 · reappointed Mar 2025 · 75 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • RAGHAVULU NAIDUIndependent · joined Jun 2021 · reappointed Jun 2026 · 60 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • GOVINDAREDDY KRISHNAMOORTHYIndependent · joined Jun 2021 · reappointed Jun 2026 · 60 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.

Committees and meetings

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

  • Board

    • 30 May 20265 of 6 present2 independent · 65 days in between
    • 25 Mar 20264 of 6 present3 independent · 41 days in between
    • 11 Feb 20266 of 6 present3 independent · 20 days in between
    • 21 Jan 20266 of 6 present3 independent

  • Audit Committee

    Chair GOVINDAREDDY KRISHNAMOORTHY

    RAGHAVULU NAIDU, KARUTURI SUBRAHMANYA CHOWDARY, DEEPTHI TALLURI

    • 30 May 20263 of 4 present2 independent · 107 days in between
    • 11 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair GOVINDAREDDY KRISHNAMOORTHY

    RAGHAVULU NAIDU, DEEPTHI TALLURI

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair RAGHAVULU NAIDU

    KARUTURI SUBRAHMANYA CHOWDARY, KARUTURI NEELIMA DEVI

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair KARUTURI NEELIMA DEVI

    SATYANARAYANA MURTHY KARUTURI, RAGHAVULU NAIDU

    • 30 May 20262 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.

  • Padmanabhan Ramani & RamanujamPeer-review certificate valid to May 2026

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.

Apex Frozen Foods 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.Apex Frozen Foods dividend history

Annual general meeting, 17 Sep 2026

40,757 shareholders on the register on 10 Sep 2026; present: 3 promoters and 81 others; votes counted by ARUN MAREPALLY / A.S. RAMKUMAR & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements of the Company for the Financial Year 2025-26, together with the report of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.27%

    Turnout: all 73.22% · promoters 100.00% · institutions 0.00% · other public 2.17%

  2. Declaration of final dividend of Rs. 2.50/- (25%) per Equity Share of Rs. 10/- each to the shareholders for the Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.22% · promoters 100.00% · institutions 0.00% · other public 2.17%

  3. Re-appointment of Mr. Karuturi Satyanarayana Murthy (DIN: 05107525), who retires by rotation, and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.27%

    Turnout: all 44.68% · promoters 60.70% · institutions 0.00% · other public 2.17%

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 Sep 2025, 11 resolutions

39,548 shareholders on the register on 19 Sep 2025; present: 4 promoters and 53 others; votes counted by ARUN MAREPALLY / A.S. RAMKUMAR & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements of the Company for the Financial Year 2024-25, together with the report of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.18%

    Turnout: all 73.98% · promoters 100.00% · institutions 0.00% · other public 4.96%

  2. Declaration of final dividend of Rs. 2.00/- (20%) per Equity Share of Rs. 10/- each to the shareholders for the Financial Year 2024-25.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.98% · promoters 100.00% · institutions 0.00% · other public 4.96%

  3. Re-appointment of Mrs. Karuturi Neelima Devi (DIN: 06765515),), who retires by rotation, and being eligible, offers herself for re-appointment
    OrdinaryPromoters have an interest in it
    99.25% for0.75% against

    Against: promoters 0.00% · institutions 0.00% · other public 40.98%

    Turnout: all 73.90% · promoters 99.89% · institutions 0.00% · other public 4.96%

  4. Appointment of M/s. A S Ramkumar & Associates, As Secretarial Auditors of the Company
    Ordinary
    100.00% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.27%

    Turnout: all 73.98% · promoters 100.00% · institutions 0.00% · other public 4.96%

  5. Continuation of Mr. Karuturi Satyanarayana Murthy (Din 05107525) as Executive Chairman of The Company on attaining the age of Seventy Years
    SpecialPromoters have an interest in it
    98.78% for1.22% against

    Against: promoters 0.00% · institutions 0.00% · other public 40.97%

    Turnout: all 45.44% · promoters 60.70% · institutions 0.00% · other public 4.96%

  6. Increase of overall limit of Maximum Managerial Remuneration from 16% to 26% of net profits
    Special
    99.02% for0.98% against

    Against: promoters 0.00% · institutions 0.00% · other public 53.36%

    Turnout: all 73.98% · promoters 100.00% · institutions 0.00% · other public 4.96%

  7. Re-appointment of Mr. K Satyanarayana Murthy (Din 05107525), as an Executive Director (Designated As Executive Chairman) of the Company & Remuneration payable to him.
    SpecialPromoters have an interest in it
    98.41% for1.59% against

    Against: promoters 0.00% · institutions 0.00% · other public 53.36%

    Turnout: all 45.44% · promoters 60.70% · institutions 0.00% · other public 4.96%

  8. Re-appointment of Mr. Karuturi Subrahmanya Chowdary (Din 03619259) as Managing Director of the Company & Remuneration payable to him
    SpecialPromoters have an interest in it
    99.60% for0.40% against

    Against: promoters 0.00% · institutions 0.00% · other public 12.79%

    Turnout: all 43.12% · promoters 57.51% · institutions 0.00% · other public 4.96%

  9. Re-appointment of Mrs. Neelima Devi Karuturi (Din 06765515) as Whole Time Director of the Company and Remuneration payable to her
    SpecialPromoters have an interest in it
    99.02% for0.98% against

    Against: promoters 0.00% · institutions 0.00% · other public 53.36%

    Turnout: all 73.90% · promoters 99.89% · institutions 0.00% · other public 4.96%

  10. Re-Appointment of Mr. B Raghavulu Naidu (Din 09158333) as an Independent Director for Second Term of 5 Years
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.41%

    Turnout: all 73.98% · promoters 100.00% · institutions 0.00% · other public 4.96%

  11. Re-Appointment of Mr. Govindareddy Krishnamoorthy (DIN 09208749) as an Independent Director for Second Term of 5 Years
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.41%

    Turnout: all 73.98% · promoters 100.00% · institutions 0.00% · other public 4.96%

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, 22 Mar 2025, 1 resolution

41,895 shareholders on the register on 14 Mar 2025; present: 3 promoters and 37 others; votes counted by ARUN MAREPALLY / A.S. RAMKUMAR & ASSOCIATES.The company's voting result (opens in a new tab)

  1. RE-APPOINTMENT OF MRS. DEEPTHI TALLURI (DIN 08726143) AS INDEPENDENT DIRECTOR
    Special
    100.00% for0.00% against

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

    Turnout: all 63.33% · promoters 82.03% · institutions 0.00% · other public 13.73%

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 Sep 2024, 6 resolutions

Present: 4 promoters and 47 others.The company's voting result (opens in a new tab)

  1. TO CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR 2023-24, TOGETHER WITH THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.30% · promoters 82.03% · institutions 42.25% · other public 9.05%

  2. Declaration of final dividend of Rs. 2.00/- (20%) per Equity Share of Rs. 10/- each to the shareholders for the Financial Year 2023-24.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 62.30% · promoters 82.03% · institutions 42.25% · other public 9.05%

  3. Re-appointment of Mr. K. Subrahmanya Chowdary (DIN: 03619259),), who retires by rotation, and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.04% · other public 0.37%

    Turnout: all 31.44% · promoters 39.53% · institutions 42.25% · other public 9.05%

  4. Approval for waiver of recovery of excess Managerial Remuneration paid to Mr. K Satyanarayana Murthy (DIN 05107525), Executive Chairman of the Company for Financial Year ended on 31st March, 2024
    SpecialPromoters have an interest in it
    92.03% for7.97% against

    Against: promoters 0.00% · institutions 100.00% · other public 98.36%

    Turnout: all 33.76% · promoters 42.73% · institutions 42.25% · other public 9.05%

  5. Approval for waiver of recovery of excess Managerial Remuneration paid to Mr. K Subrahmanya Chowdary (DIN 03619259), Managing Director of the Company for Financial Year ended on 31st March, 2024
    SpecialPromoters have an interest in it
    91.45% for8.55% against

    Against: promoters 0.00% · institutions 100.00% · other public 98.36%

    Turnout: all 31.44% · promoters 39.53% · institutions 42.25% · other public 9.05%

  6. Approval for waiver of recovery of excess Managerial Remuneration paid to Mrs. Neelima Devi Karuturi (DIN 06765515), Whole Time Director (designated as Director (Admin)) of the company for the financial year ended 31st March, 2024MoreLess
    SpecialPromoters have an interest in it
    95.68% for4.32% against

    Against: promoters 0.00% · institutions 100.00% · other public 98.36%

    Turnout: all 62.22% · promoters 81.92% · institutions 42.25% · other public 9.05%

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.

Annual general meeting, 30 Sep 2023, 3 resolutions

Present: 4 promoters and 66 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements of the company for the financial year 2022-23, together with the report of the board of directors and auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.83% · promoters 99.72% · institutions 0.00% · other public 1.52%

  2. TO DECLARE FINAL DIVIDEND OF RS. 2.50/- (25%) PER EQUITY SHARE OF RS. 10/- EACH TO THE SHAREHOLDERS FOR THE FINANCIAL YEAR 2022-23
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.83% · promoters 99.72% · institutions 0.00% · other public 1.52%

  3. TO RE-APPOINT A DIRECTOR IN PLACE OF MR. K. SATYANARAYANA MURTHY (DIN:05107525), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 44.29% · promoters 60.42% · institutions 0.00% · other public 1.52%

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, 28 Jan 2023, 1 resolution

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

  1. TO APPOINT MRS. K NEELIMA DEVI (DIN 06765515) AS WHOLE TIME DIRECTOR DESIGNATED AS DIRECTOR (ADMIN) & APPROVE REMUNERATION PAYABLE TOnHER
    SpecialPromoters have an interest in it
    93.25% for6.75% against

    Against: promoters 0.00% · institutions 83.54% · other public 23.29%

    Turnout: all 78.21% · promoters 99.59% · institutions 49.87% · other public 1.28%

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, 23 Jul 2022, 8 resolutions

Present: 3 promoters and 38 others.The company's voting result (opens in a new tab)

  1. TO CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR 2021-22, TOGETHER WITH THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.34% · promoters 99.70% · institutions 99.03% · other public 3.27%

  2. TO DECLARE FINAL DIVIDEND OF RS. 2.50/- (25%) PER EQUITY SHARE OF RS. 10/- EACH TO THE SHAREHOLDERS FOR THE FINANCIAL YEAR 2021-22
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.34% · promoters 99.70% · institutions 99.03% · other public 3.27%

  3. TO RE-APPOINT A DIRECTOR IN PLACE OF MRS. KARUTURI NEELIMA DEVI (DIN 06765515), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 7.93% · promoters 0.00% · institutions 99.03% · other public 3.27%

  4. APPOINTMENT OF M/S. PADMANABHAN RAMANI & RAMANUJAM, CHARTERED ACCOUNTANTS, CHENNAI, (FIRM REG NO. 002510S) AS STATUTORY AUDITORS OF THE COMPANY FOR A PERIOD OF 5 YEARS FROM CONCLUSION OF THIS AGM
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.34% · promoters 99.70% · institutions 99.03% · other public 3.27%

  5. INCREASE OF OVERALL MAXIMUM MANAGERIAL REMUNERATION FROM 11% (ELEVEN PERCENT) TO 16% (SIXTEEN PERCENT) OF THE NET PROFITS OF THE COMPANY
    Special
    91.51% for8.49% against

    Against: promoters 0.00% · institutions 93.56% · other public 1.49%

    Turnout: all 80.34% · promoters 99.70% · institutions 99.03% · other public 3.27%

  6. APPOINTMENT OF MR. K SATYANARAYANA MURTHY AS EXECUTIVE DIRECTOR OF THE COMPANY W E F 01.12.2022 & APPROVAL OF REMUNERATION PAYABLE TO HIM
    SpecialPromoters have an interest in it
    99.97% for0.03% against

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

    Turnout: all 7.93% · promoters 0.00% · institutions 99.03% · other public 3.27%

  7. APPOINTMENT OF MR. K. SUBRAHMANYA CHOWDARY AS THE MANAGING DIRECTOR W E F 01.12.2022 & APPROVAL OF REMUNERATION PAYABLE TO HIM
    SpecialPromoters have an interest in it
    80.64% for19.36% against

    Against: promoters 0.00% · institutions 21.07% · other public 0.39%

    Turnout: all 7.93% · promoters 0.00% · institutions 99.03% · other public 3.27%

  8. RE-APPOINTMENT OF MRS. K NEELIMA DEVI (DIN 06765515) AS WHOLE TIME DIRECTOR & APPROVAL OF THE REMUNERATION PAYABLE TO HER
    SpecialPromoters have an interest in it
    14.13% for85.87% against

    Against: promoters 0.00% · institutions 93.56% · other public 0.52%

    Turnout: all 7.93% · promoters 0.00% · institutions 99.03% · other public 3.27%

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, 22 Sep 2021, 5 resolutions

Present: 4 promoters and 61 others.The company's voting result (opens in a new tab)

  1. TO CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR 2020-21, TOGETHER WITH THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.84%

    Turnout: all 34.83% · promoters 39.30% · institutions 58.35% · other public 4.09%

  2. TO DECLARE FINAL DIVIDEND OF RS. 2.00/- (20%) PER EQUITY SHARE OF RS. 10/- EACH TO THE SHAREHOLDERS FOR THE FINANCIAL YEAR 2020-21.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 34.83% · promoters 39.30% · institutions 58.35% · other public 4.09%

  3. TO RE-APPOINT A DIRECTOR IN PLACE OF MR. K. SUBRAHMANYA CHOWDARY (DIN 03619259), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT
    OrdinaryPromoters have an interest in it
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.91%

    Turnout: all 6.29% · promoters 0.00% · institutions 58.35% · other public 4.09%

  4. APPOINTMENT OF MR. B. RAGHAVULU NAIDU (DIN: 09158333) AS AN INDEPENDENT DIRECTOR
    Special
    100.00% for0.00% against

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

    Turnout: all 34.83% · promoters 39.30% · institutions 58.35% · other public 4.09%

  5. APPOINTMENT OF MR. GOVINDAREDDY KRISHNAMOORTHY (DIN: 09208749) AS AN INDEPENDENT DIRECTOR
    Special
    100.00% for0.00% against

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

    Turnout: all 34.83% · promoters 39.30% · institutions 58.35% · other public 4.09%

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 28 Jan 2023, 2 fund houses

  • TO APPOINT MRS. K NEELIMA DEVI (DIN 06765515) AS WHOLE TIME DIRECTOR DESIGNATED AS DIRECTOR (ADMIN) & APPROVE REMUNERATION PAYABLE TOnHER
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundDelayed approval sought for appointment of Director
    1 for1 against

Mutual fund votes, meeting of 23 Jul 2022, 3 fund houses

  • TO CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR 2021-22, TOGETHER WITH THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.
    3 for0 against
  • TO DECLARE FINAL DIVIDEND OF RS. 2.50/- (25%) PER EQUITY SHARE OF RS. 10/- EACH TO THE SHAREHOLDERS FOR THE FINANCIAL YEAR 2021-22
    3 for0 against
  • TO RE-APPOINT A DIRECTOR IN PLACE OF MRS. KARUTURI NEELIMA DEVI (DIN 06765515), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT
    3 for0 against
  • APPOINTMENT OF M/S. PADMANABHAN RAMANI & RAMANUJAM, CHARTERED ACCOUNTANTS, CHENNAI, (FIRM REG NO. 002510S) AS STATUTORY AUDITORS OF THE COMPANY FOR A PERIOD OF 5 YEARS FROM CONCLUSION OF THIS AGM
    3 for0 against
  • INCREASE OF OVERALL MAXIMUM MANAGERIAL REMUNERATION FROM 11% (ELEVEN PERCENT) TO 16% (SIXTEEN PERCENT) OF THE NET PROFITS OF THE COMPANY
    Against Invesco Mutual Fund, Nippon India Mutual Fund
    • Invesco Mutual FundIn FY22, the overall managerial remuneration was at Rs. 46.9 mn, which was 8.4% of PBT. The company seeks approval to pay managerial remuneration up to 16% of net profits i.e., in excess of the limit of 11% set by regulations from FY23, which is high and will allow promoters to double their current remuneration. There is no absolute cap on aggregate remuneration, nor is there a defined time limit for this resolution: the company seeks approval in perpetuity, which we do not support. We believe promoter remuneration is already high for the size of the company and therefore, do not support the increase in the headroom
    • Nippon India Mutual FundPerpetual approval, hence not approved
    1 for2 against
  • APPOINTMENT OF MR. K SATYANARAYANA MURTHY AS EXECUTIVE DIRECTOR OF THE COMPANY W E F 01.12.2022 & APPROVAL OF REMUNERATION PAYABLE TO HIM
    3 for0 against
  • APPOINTMENT OF MR. K. SUBRAHMANYA CHOWDARY AS THE MANAGING DIRECTOR W E F 01.12.2022 & APPROVAL OF REMUNERATION PAYABLE TO HIM
    Against Invesco Mutual Fund
    • Invesco Mutual FundK. Subrahmanya Chowdary is part of the promoter family and a Whole time Director of the company. The company proposes to reappoint him as Managing Director, liable to retire by rotation, for three years from 1 December 2022. K. Subrahmanya Chowdary was paid Rs. 16.8 mn in FY22 which was 3.0% of PBT, 1880x of the median employee remuneration and 36.4% of the total family remuneration. His proposed terms of remuneration include commission at a minimum of 2% of profits and a maximum of 5% of profits, without a cap in absolute terms. We estimate his FY23 remuneration at Rs. 31.2 mn. We raise concern over the doubling of remuneration in the context of median employee remuneration, and the therefore increased level of promoter remuneration, in the context of the company’s size.
    2 for1 against
  • RE-APPOINTMENT OF MRS. K NEELIMA DEVI (DIN 06765515) AS WHOLE TIME DIRECTOR & APPROVAL OF THE REMUNERATION PAYABLE TO HER
    Against Invesco Mutual Fund, Nippon India Mutual Fund
    • Invesco Mutual FundMs. K. Neelima Devi is part of the promoter family and a Whole time Director of the company. K. Neelima Devi was paid Rs. 12.5 mn in FY22 which was 2.1% of PBT, 1339x of the median employee remuneration and 27.1% of the total family remuneration. We estimate her FY23 remuneration to be Rs. 27.3 mn and is in line with peers. This year, her remuneration structure includes commission upto 5% of profits without a cap in absolute amounts – in the absence of a track record for commission payments, we are unable to estimate her remuneration. We raise concern over the lack of clarity with respect to K Neelima Devi’s roles and responsibilities, the rationale for the proposed change in remuneration structure, and the overall family remuneration that is high in the context of the company’s size
    • Nippon India Mutual FundNo absolute cap on remuneration
    1 for2 against
1 earlier meeting

Mutual fund votes, meeting of 22 Sep 2021, 2 fund houses

  • TO CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR 2020-21, TOGETHER WITH THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON.
    2 for0 against
  • TO DECLARE FINAL DIVIDEND OF RS. 2.00/- (20%) PER EQUITY SHARE OF RS. 10/- EACH TO THE SHAREHOLDERS FOR THE FINANCIAL YEAR 2020-21.
    2 for0 against
  • TO RE-APPOINT A DIRECTOR IN PLACE OF MR. K. SUBRAHMANYA CHOWDARY (DIN 03619259), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT
    2 for0 against
  • APPOINTMENT OF MR. B. RAGHAVULU NAIDU (DIN: 09158333) AS AN INDEPENDENT DIRECTOR
    2 for0 against
  • APPOINTMENT OF MR. GOVINDAREDDY KRISHNAMOORTHY (DIN: 09208749) AS AN INDEPENDENT DIRECTOR
    2 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
No
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.