Amara Raja Energy & Mobility CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 25 Dec 2025, 22 fund houses

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

• To consider and approve the Amara Raja Energy & Mobility Limited Employees Stock Option Scheme 2025

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. • The performance parameters, weightages and targets for vesting have not been disclosed.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because the Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. The performance parameters, weightages and targets for vesting have not been disclosed.

  15 for2 against
• To consider and approve Grant of Options to the Employees of unlisted Subsidiary Company(ies), in India or outside India, under Amara Raja Energy & Mobility Limited Employees Stock Option Scheme

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. • The performance parameters, weightages and targets for vesting have not been disclosed.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because the Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. The performance parameters, weightages and targets for vesting have not been disclosed.

  15 for2 against
• To consider and approve the Secondary Acquisition of Company’s Shares through Trust Route for the Implementation of Amara Raja Energy & Mobility Limited Employees Stock Option Scheme, 2025

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. • The performance parameters, weightages and targets for vesting have not been disclosed.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because the Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. The performance parameters, weightages and targets for vesting have not been disclosed.

  15 for2 against
• To consider and approve provision of money by the Company for purchase of Company’s shares by the ‘Amara Raja Energy & Mobility ESOS Trust’), under the Amara Raja Energy & Mobility Limited Employees Stock Option Scheme, 2025MoreLess

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. • The performance parameters, weightages and targets for vesting have not been disclosed.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because the Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. The performance parameters, weightages and targets for vesting have not been disclosed.

  15 for2 against

Mutual fund votes, meeting of 14 Aug 2025, 20 fund houses

• Adoption of the audited Financial Statements (standalone and consolidated) of the Company for the Financial Year ended March 31, 2025, the report of the Joint Statutory Auditors’ thereon and the report of the Board of Directors.MoreLess

  20 for0 against
• Confirmation of payment of the interim dividend and to declare the final dividend of Rs. 5.20/- on the Company's equity shares for the Financial Year ending March 31, 2025

  20 for0 against
• Reappointment of Mr. Vikramadithya Gourineni (DIN: 03167659), who retires by rotation as a director and, being eligible, offers himself for reappointment.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Excessive remuneration practice towards Promoter Directors.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. Governance concern: Excessive remuneration practice towards Promoter Directors.

  15 for5 against
• Appointment of Joint Statutory Auditors of the Company for a term of five years and fix their remuneration

  20 for0 against
• Appointment of Ms. Radhika Shapoorjee (DIN: 03559547) as an Independent Director of the Company

  20 for0 against
• Re-appointment of Mr. Jayadev Galla (DIN: 00143610) as Chairman, Managing Director & CEO of the Company and fix his remuneration

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Combined position of Executive Chairman; Excessive remuneration practice towards Promoter Directors. No absolute cap on variable pay or total proposed remuneration; Unfettered power to the Board/ Nomination & Remuneration Committee to alter/ vary terms of remuneration.
  • Axis Mutual Fund, Sundaram Mutual FundJayadev Galla, part of the promoter group, received Rs. 672.9 mn as remuneration in FY25. After his reappointment as Managing Director, we estimate the annual remuneration at Rs. 726.1 mn, which is not commensurate with the size and complexity of the business and high when compared to peers. The proposed remuneration, under this resolution, is capped by regulations at 5% of profits. Furthermore, in FY25, the aggregate promoter remuneration was high at 10.6% of pre-tax profits. The company should cap the aggregate remuneration (including commission) in absolute terms and disclose the performance parameters that govern the variable pay. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of the Director. Governance concern: Combined position of Executive Chairman; Excessive remuneration practice towards Promoter Directors. No absolute cap on variable pay or total proposed remuneration; Unfettered power to the Board/ NRC to alter/ vary terms of remuneration.
  • Baroda BNP Paribas Mutual FundCompliant with law. No concern on the merits of the Director. Governance concern: Combined position of Chairman, Managing Director & CEO of the Company, may lead to concentration of powers in the hands of single person. Combining the position of Chairperson with executive positions blurs the demarcation between Board and Management
  • HDFC Mutual FundMr. Jayadev Galla, part of the promoter group. His proposed remuneration is not commensurate with the size and complexity of the business. We do not support the resolution.
  • HSBC Mutual FundThe proposed remuneration structure provides for significant discretion to the board to decide his overall pay. There are no disclosures on the threshold and target performance that he needs to achieve to determine the rewards under the commission element. The executive FY2025 pay 2,232 times the median remuneration of the employees of the company. The estimated pay is aggressively positioned compared to industry peers and the size and scale of the company's operations.
  • Kotak Mahindra Mutual FundMr. Jayadev Galla, 59, part of the promoter group and MD at Amara Raja Energy & Mobility Ltd and Amara Raja Advanced Cell Technologies Private Ltd (Subsidiary). He has been associated with the Company as a Co-Founder since its inception in the year 1985. He joined the Board in the year 1994 and has worked in various capacities till he became the Managing Director of the Company. He has received Rs. 672.9 mn as remuneration in FY25. After his reappointment as Managing Director, we estimate the annual remuneration at Rs. 726.1 mn, which is not commensurate with the size and complexity of the business and high when compared to peers. The proposed remuneration, under this resolution, is capped by regulations at 5% of profits. Furthermore, in FY25, the aggregate promoter remuneration was high at 10.6% of pre-tax profits. The company should cap the aggregate remuneration (including commission) in absolute terms and disclose the performance parameters that govern the variable pay. We support his reappointment however have concern with respect to his remuneration. Hence, we are voting against.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance concern: Combined position of Executive Chairman; Excessive remuneration practice towards Promoter Directors. No absolute cap on variable pay or total proposed remuneration
  • SBI Mutual FundJayadev Galla, part of the promoter group, received Rs. 672.9 mn as remuneration in FY25. The company clarified that there is no change to remuneration or other terms. However, on the SBIMF Internal framework, we observe that the total promoter family pay exceeds 10% of the PBT. Moreover, his salary growth with respect to sales as well as his salary with respect median salary of employees is not in line with the peers. Though, we support his reappointment, we do not support the excessive remuneration proposed for him. We do not support the resolution.

  5 for15 against
• Approval of payment of remuneration to Mr. Jayadev Galla (DIN: 00143610) Chairman, Managing Director & CEO of the Company pursuant to the Regulation 17(6)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015MoreLess

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Combined position of Executive Chairman; Excessive remuneration practice towards Promoter Directors. No absolute cap on variable pay or total proposed remuneration; Unfettered power to the Board/ Nomination & Remuneration Committee to alter/ vary terms of remuneration.
  • Axis Mutual Fund, Sundaram Mutual FundOur view on this resolution is linked to resolution #6. Jayadev Galla’s estimated annual remuneration at Rs. 726.1 mn is not commensurate with the size and complexity of the business and high when compared to peers. The company has not disclosed the rationale for seeking approval for Jayadev Galla’s remuneration in excess of regulatory thresholds. Furthermore, in FY25, the aggregate promoter remuneration was high at 10.6% of pre-tax profits. The company should cap the aggregate remuneration (including commission) in absolute terms and disclose the performance parameters that govern the variable pay. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of the Director. Governance concern: Combined position of Executive Chairman; Excessive remuneration practice towards Promoter Directors. No absolute cap on variable pay or total proposed remuneration; Unfettered power to the Board/ NRC to alter/ vary terms of remuneration.
  • Baroda BNP Paribas Mutual FundCompliant with law. No concern on the merits of the Director. Governance concern: Combined position of Chairman, Managing Director & CEO of the Company, may lead to concentration of powers in the hands of single person. Combining the position of Chairperson with executive positions blurs the demarcation between Board and Management.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted based on the following concerns regarding the executive's remuneration: • The proposed remuneration structure provides for significant discretion to the board to decide his overall pay. • There are no disclosures on the threshold and target performance that he needs to achieve to determine the rewards under the commission element. • The executive FY2025 pay 2,232 times the median remuneration of the employees of the company. • The estimated pay is aggressively positioned compared to industry peers and the size and scale of the company's operations.
  • HDFC Mutual FundMr. Jayadev Galla's proposed remuneration is not commensurate with the size and complexity of the business. We do not support the resolution.
  • HSBC Mutual FundThe proposed remuneration structure provides for significant discretion to the board to decide his overall pay. There are no disclosures on the threshold and target performance that he needs to achieve to determine the rewards under the commission element. The executive FY2025 pay 2,232 times the median remuneration of the employees of the company. The estimated pay is aggressively positioned compared to industry peers and the size and scale of the company's operations.
  • Kotak Mahindra Mutual FundMr. Jayadev Galla, 59, part of the promoter group and MD at Amara Raja Energy & Mobility Ltd and Amara Raja Advanced Cell Technologies Private Ltd (Subsidiary). He has been associated with the Company as a Co-Founder since its inception in the year 1985. He has received Rs. 672.9 mn as remuneration in FY25. After his reappointment as Managing Director, we estimate the annual remuneration at Rs. 726.1 mn. Our view on this resolution is linked to resolution #6. Jayadev Galla s estimated annual remuneration at Rs. 726.1 mn is not commensurate with the size and complexity of the business and high when compared to peers. The company has not disclosed the rationale for seeking approval for Jayadev Galla s remuneration in excess of regulatory thresholds. Furthermore, in FY25, the aggregate promoter remuneration was high at 10.6% of pre-tax profits. The company should cap the aggregate remuneration (including commission) in absolute terms and disclose the performance parameters that govern the variable pay. We support his reappointment however have concern with respect to his remuneration. Hence, we are voting against.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance concern: Combined position of Executive Chairman; Excessive remuneration practice towards Promoter Directors. No absolute cap on variable pay or total proposed remuneration
  • SBI Mutual FundJayadev Galla, part of the promoter group, received Rs. 672.9 mn as remuneration in FY25. The company clarified that there is no change to remuneration or other terms On the SBIMF Internal framework, we observe that the total promoter family pay exceeds 10% of the PBT. Moreover, his salary growth with respect to sales as well as his salary with respect median salary of employees is not in line with the peers. Though, we support his reappointment, we do not support the excessive remuneration proposed for him. We do not support the resolution.

  4 for16 against
• Appointment of Secretarial Auditors of the Company and fix their remuneration for a term of five years from Financial Year 2025-26 to Financial Year 2029-30

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundTransparency Concern: Previous Auditor’s remuneration has not been disclosed, and the Company has not addressed if there is any material change in the audit fee.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundProposed appointment compliant with law. Transparency Concern: Previous Auditor’s remuneration has not been disclosed, and the Company has not addressed if there is any Material Change in the Audit Fee.

  15 for5 against
• Ratification of the remuneration payable to the Cost Auditors for the Financial Year 2025-26

  20 for0 against

Mutual fund votes, meeting of 3 Aug 2024, 24 fund houses

• Adoption of the audited standalone financial statements of the Company for the Financial Year ended March 31, 2024, the report of the Joint Statutory Auditors’ thereon and the report of the Board of Directors’.MoreLess

  24 for0 against
• Adoption of the audited consolidated financial statements of the Company for the Financial Year ended March 31, 2024

  24 for0 against
• Confirmation of payment of Interim Dividend (Rs.4.80/- per equity share i.e. 480%) on Equity Shares and declaration of final dividend (Rs.5.10/- per equity share i.e. 510%) on the Equity Shares of the Company for Financial Year ended March 31, 2024.MoreLess

  24 for0 against
• Reappointment of Mr. Harshavardhana Gourineni (DIN: 07311410) who retired by rotation as a Director, and being eligible offered himself for reappointment.

  ›Against Groww Mutual Fund, JM Financial Mutual Fund, Mahindra Manulife Mutual Fund, Motilal Oswal Mutual Fund

  • Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundRe-appointment compliant with law. Governance concern: Excessive remuneration.
  • Mahindra Manulife Mutual FundGovernance concern: Excessive remuneration. We raise concern over the high quantum of remuneration being paid to Harshavardhana Gourineni: he received Rs. 316.5 mn as remuneration in FY24, which is not commensurate with the size and complexity of the business, and high for his level of professional experience.

  20 for4 against
• Appointment of Dr. Amar Patnaik (DIN: 08602154) as an Independent Director of the Company

  24 for0 against
• Ratification of the remuneration of the Cost Auditors for the Financial Year 2024-25.

  24 for0 against
• Approval for payment of commission to Non-Executive Independent Directors for Financial Years 2024-25 to 2028-29.

  24 for0 against

Mutual fund votes, meeting of 12 Aug 2023, 9 fund houses

• 1) Adoption of Audited Standalone Financial Statements for the year ended 31st March, 2023 and the Reports of the Directors and Auditors thereon.

  1 for0 against
• 2) Adoption of Audited Consolidated Financial Statements for the year ended 31st March, 2023 and the Reports of the Auditors thereon.

  1 for0 against
• 3) To confirm the interim dividend of Rs. 2.9 per equity share and approve final dividend of Rs. 3.2 per equity share for FY23.

  1 for0 against
• 4) Reappoint Vikramadithya Gourineni (DIN: 03167659) as Director, liable to retire by rotation.

  1 for0 against
• 5) Ratify remuneration of Rs. 475,000 payable to Sagar & Associates, as cost auditor for FY24.

  1 for0 against
• 6) Approve change in name of the company to Amara Raja Energy and Mobility Limited.

  1 for0 against
• 7) Approve alteration to the Memorandum of Association and the Articles of Association consequent to the change in name of the company to Amara Raja Energy and Mobility Limited.

  1 for0 against
• Adoption of consolidated financial statements for the year ended 31 March 2023

  1 for0 against
• Adoption of standalone financial statements for the year ended 31 March 2023

  1 for0 against
• Alteration in the Memorandum of Association and the Articles of Association of the Company.

  7 for0 against
• Approve alteration to the Memorandum of Association and the Articles of Association consequent to the change in name of the company to Amara Raja Energy and Mobility Limited

  1 for0 against
• Approve change in name of the company to Amara Raja Energy and Mobility Limited

  1 for0 against
• Change in name of the Company from Amara Raja Batteries Limited to Amara Raja Energy & Mobility Limited.

  7 for0 against
• Ratification of remuneration of Rs.4,75,000/- plus reimbursement of out of pocket expenses and applicable taxes payable to M/s. Sagar & Associates, Cost Accountants, Hyderabad, Firm Registration No. 000118, appointed by the Board of Directors as Cost Auditors to conduct the audit of the cost records of the Company for the financial year 2023-24.MoreLess

  7 for0 against
• Ratify remuneration of Rs. 475,000 payable to Sagar & Associates, as cost auditor for FY24

  1 for0 against
• Reappoint Vikramadithya Gourineni (DIN: 03167659) as Director, liable to retire by rotation

  1 for0 against
• To confirm the interim dividend of Rs. 2.9 per equity share and approve final dividend of Rs. 3.2 per equity share (face value Re. 1.0) for FY23

  1 for0 against
• To confirm the payment of the Interim Dividend (Rs.2.90/- per equity share i.e. 290%) on Equity Shares and to declare final dividend (Rs.3.20/- per equity share i.e. 320%) on the Equity Shares of the Company for the financial year ended March 31, 2023.MoreLess

  7 for0 against
• To reappoint Mr. Vikramadithya Gourineni (DIN: 03167659) who retires by rotation as a Director, and being eligible offers himself for reappointment.

  ›Against Motilal Oswal Mutual Fund

  • Motilal Oswal Mutual FundCompliant with law. No concern on merit. Governance concern: Excessive remuneration

  6 for1 against
• To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 together with the Auditors’ report thereon.

  7 for0 against
• To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023, the report of the Auditors’ thereon and the report of the Board of Directors.MoreLess

  7 for0 against

Mutual fund votes, meeting of 12 Apr 2023, 8 fund houses

• 1) Approve scheme of arrangement between Amara Raja Batteries Limited (ARBL) and Mangal Industries Limited (MIL).

  ›Against SBI Mutual Fund

  • SBI Mutual FundARBL proposes to purchase the plastic components for batteries business (demerged undertaking) from MIL, which is a promoter-controlled company, for an aggregate valuation of Rs. 7.8 bn. MIL’s demerged undertaking is a captive unit – it caters only to ARBL. While we recognize that the purchase of the demerged undertaking will simplify operational control and reduce dependence on promoter-controlled companies, we do not support the resolution because we believe the valuations are high.

  0 for1 against
• Approve scheme of arrangement between Amara Raja Batteries Limited (ARBL) and Mangal Industries Limited (MIL)

  1 for0 against
• Scheme of arrangement amongst the Company and Mangal Industries Limited (MIL) and their respective Shareholders and Creditors under Sections 230 to 232 and other applicable provisions of the Act (the Scheme).MoreLess

  ›Against Axis Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund

  • Axis Mutual FundARBL proposes to purchase the plastic components for batteries business (demerged undertaking) from MIL, which is a promoter-controlled company, for an aggregate valuation of Rs. 7.8 bn. MIL’s demerged undertaking is a captive unit – it caters only to ARBL. To this extent, its 17.2% EBITDA margin is negotiated and not market-driven: as a Tier II auto-component manufacturer, its business margins are higher than ARBL (a Tier I auto-component manufacturer) and higher than most other listed Tier I auto-component manufacturers (which are a step ahead in the value chain). The valuations of the business seem to be in line with other Tier I auto-component manufacturers: we believe that as a reflection of their nature of businesses and their position in the value chain, Tier II auto ancillary players should be valued at a discount to Tier-1 auto ancillary manufacturers. We also note that since the entire revenue of the demerged undertaking comes from ARBL, the valuation must be at a discount to market peers, and not pegged to peers. While we recognize that the purchase of the demerged undertaking will simplify operational control and reduce dependence on promoter-controlled companies, we do not support the resolution because we believe the valuations are high.
  • HDFC Mutual FundThe valuation is on the higher side
  • Kotak Mahindra Mutual FundThough compliant with law. The company has not provided appropriate details on historical financial data of Mangal Industries and have not disclosed the DCF working calculations. With no detailed calculation we cannot be sure of value ascribed notwithstanding the discount provided even though it s a relative value transaction. Given this transparency concern, hence voting against .
  • Nippon India Mutual FundInsufficient information

  1 for4 against
• To approve the Scheme of arrangement amongst Amara Raja Batteries Limited (“Resulting Company”) and Mangal Industries Limited (''Demerged Company”) and their respective Shareholders and Creditors under Sections 230 to 232 and other applicable provisions of the Act (“the Scheme”)MoreLess

  1 for0 against

Mutual fund votes, meeting of 25 Sep 2022, 13 fund houses

• 1) Approve amendments to Objects Clause of the Memorandum of Association (MoA).

  1 for0 against
• Amendment of the Main objects of the Company i.e. Clause III (A) of the Memorandum of Association of the Company.

  8 for0 against
• Approve amendments to Objects Clause of the Memorandum of Association (MoA)

  2 for0 against
• To approve & amend the main objects clause of the Memorandum of Association of the Company.

  1 for0 against
• To approve an amendment of the Main objects of the Company i.e. Clause III (A) of the Memorandum of Association of the Company

  1 for0 against