Aries Agro logo

Aries Agro MD, chairman, board of directors and AGM

NSE: ARIESBSE: 532935Fertilizers & AgrochemicalsSmall Cap

Last close ₹447.75down ₹23.55 (5.00%)BSE ₹446.45

Share price at the NSE close on 23 Oct 2026. Previous close ₹471.30.

52-week range of traded prices to 23 Oct 2026
₹285.35Low, 20 Jan 2026₹524.75High, 7 Sep 2026
Market cap
₹582 Cr1,905th largest listed
P/E
12.2
P/B
1.7
Dividend yield
0.56%
ROE
15.3%
ROCE
18.0%
Debt to equity
0.15
Volume, NSE
20,236

Aries Agro 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

  • Chairperson and managing directorRAHUL MIRCHANDANI
  • Company Secretary and Compliance OfficerQAISER PARVEZ ANSARI

6 directors3 independent1 executive2 non-executive

  • RAHUL MIRCHANDANI · Chairperson and managing directorExecutive · joined Feb 1994 · 391 months as independent · 1 listed board · 1 committee seat
  • NITYA MIRCHANDANINon-executive · joined May 2014 · 148 months as independent · 1 listed board · 2 committee seats
  • RAMAMURTHY SUNDARESANNon-executive · joined Feb 2025 · 19 months as independent · 1 listed board
  • NRUPANG BHUMITRA DHOLAKIAIndependent · joined Mar 2022 · 55 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
  • R.V. BALASUBRAMANIAM IYERIndependent · joined Feb 2024 · 32 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • SHAILESH RAMESH KARNIKIndependent · joined Aug 2024 · 25 months as independent · 1 listed board · 1 as independent · 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.

1 director who left
  • JIMMY MIRCHANDANI, left 26 Jan 2025: Others

Committees and meetings

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

  • Board

    • 11 Aug 20266 of 6 present3 independent · 74 days in between
    • 28 May 20266 of 6 present3 independent

  • Audit Committee

    Chair NRUPANG BHUMITRA DHOLAKIA

    NITYA MIRCHANDANI, R.V. BALASUBRAMANIAM IYER, SHAILESH RAMESH KARNIK

    • 11 Aug 20264 of 4 present3 independent · 74 days in between
    • 28 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair R.V. BALASUBRAMANIAM IYER

    NRUPANG BHUMITRA DHOLAKIA, SHAILESH RAMESH KARNIK

    • 11 Aug 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair NRUPANG BHUMITRA DHOLAKIA

    RAHUL MIRCHANDANI, NITYA MIRCHANDANI

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair RAHUL MIRCHANDANI

    NITYA MIRCHANDANI, NRUPANG BHUMITRA DHOLAKIA

    • 11 Aug 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 Mar 2026.

  • KIRTI D SHAH AND ASSOCIATESPeer-review certificate valid to Apr 2028

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.

Aries Agro 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.Aries Agro dividend history

Annual general meeting, 29 Sep 2026

17,335 shareholders on the register on 22 Sep 2026; present: 2 promoters and 62 others; votes counted by SHAILASHRI BHASKAR / N.A..The company's voting result (opens in a new tab)

  1. To consider and adopt the Audited Financial Statements of the Company and the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

  2. To declare dividend for the Financial Year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

  3. To appoint a Director in place of Mr. Ramamurthy Sundaresan (DIN 00540033) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

  4. Re-appointment of Dr. Rahul Mirchandani as the Managing Director
    SpecialPromoters have an interest in it
    92.48% for7.52% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.34%

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

  5. Re-appointment of Mr Nrupang Bhumitra Dholakia (DIN: 06522711) as an Independent Director
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

  6. Ratification of the remuneration payable to the Cost Auditor for the financial year ending March 2027
    Ordinary
    99.98% for0.02% against

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

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

  7. Approval for the payment of the Commission to Ms. Nitya Mirchandani, Promoter Director of the Company
    SpecialPromoters have an interest in it
    99.98% for0.02% against

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

    Turnout: all 32.49% · promoters 54.49% · institutions 70.64% · other public 3.11%

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

Annual general meeting, 26 Sep 2025, 5 resolutions

20,077 shareholders on the register on 19 Sep 2025; present: 3 promoters and 45 others; votes counted by SHAILASHRI BHASKAR / N.A..The company's voting result (opens in a new tab)

  1. To consider and adopt the Audited Financial Statements of the Company and the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 34.46% · promoters 59.04% · institutions 74.14% · other public 2.11%

  2. To declare dividend for the Financial Year ended March 31, 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 34.46% · promoters 59.04% · institutions 74.14% · other public 2.11%

  3. To appoint a Director in place of Ms Nitya Mirchandani (DIN 06882384) who retires by rotation and being eligible offers herself for re-appointment
    Ordinary
    99.01% for0.99% against

    Against: promoters 0.00% · institutions 0.00% · other public 36.65%

    Turnout: all 34.46% · promoters 59.04% · institutions 74.14% · other public 2.11%

  4. Ratification of the Remuneration payable to the Cost Auditor
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 34.46% · promoters 59.04% · institutions 74.14% · other public 2.11%

  5. Appointment of Secretarial Auditor
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 34.46% · promoters 59.04% · institutions 74.14% · other public 2.11%

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

Postal ballot, 22 Mar 2025, 1 resolution

21,237 shareholders on the register on 14 Feb 2025; votes counted by MEGHNA MEHUL SHAH / MSDS & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To appoint Mr. Ramamurthy Sundaresan (DIN-00540033)) as a Director, Non-Executive and Non-Independent, of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 30.19% · promoters 51.86% · institutions 81.84% · other public 1.00%

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 Sep 2024, 6 resolutions

Present: 2 promoters and 40 others.The company's voting result (opens in a new tab)

  1. To Approve the Financial Statements (Standalone and Consolidated) for the Financial Year 2023-2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 33.08% · promoters 57.73% · institutions 59.43% · other public 1.23%

  2. To declare Dividend for the Financial Year-2023-24.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 33.08% · promoters 57.73% · institutions 59.43% · other public 1.23%

  3. To appoint a Director in place of Mrs. Nitya Mirchandani (DIN 06882384), who retires by rotation and being eligible offers herself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 33.08% · promoters 57.73% · institutions 59.43% · other public 1.23%

  4. To appoint Dr. Shailesh Ramesh Karnik(DIN 06976928) as a Director of the Company with effect from 14th August, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 33.08% · promoters 57.73% · institutions 59.43% · other public 1.23%

  5. To appoint Dr. Shailesh Ramesh Karnik(DIN 06976928), as an Independent Director of the Company, not liable to retire by rotation and to hold office for a term of 5 (five) consecutive years on the Board of the Company with effect from 14th August, 2024 up to 13th August, 2029.MoreLess
    Special
    100.00% for0.00% against

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

    Turnout: all 33.08% · promoters 57.73% · institutions 59.43% · other public 1.23%

  6. To Ratify the Remuneration of the Cost Auditor in terms of Section 148 of the Companies Act, 2013 read with Companies(Audit and Auditors) Rules, 2014.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.75%

    Turnout: all 33.08% · promoters 57.73% · institutions 59.43% · other public 1.23%

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 2023, 6 resolutions

Present: 5 promoters and 52 others.The company's voting result (opens in a new tab)

  1. To Approve the Financial Statements (Standalone and Consolidated) for the Financial Year 2022-2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 54.75% · promoters 100.00% · institutions 83.91% · other public 0.71%

  2. To declare Dividend for the Financial Year-2022-23.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 54.75% · promoters 100.00% · institutions 83.91% · other public 0.71%

  3. To appoint a Director in place of Dr. Jimmy Mirchandani(DIN 00239021), who retires by rotation and being eligible offers himself for re-appointment.
    Ordinary
    97.58% for2.42% against

    Against: promoters 0.00% · institutions 74.91% · other public 1.44%

    Turnout: all 54.75% · promoters 100.00% · institutions 83.91% · other public 0.71%

  4. To appoint Mr. R. V. Balasubramaniam Iyer (DIN 10265799) as a Director of the Company with effect from 1st February, 2024.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.59%

    Turnout: all 54.75% · promoters 100.00% · institutions 83.91% · other public 0.71%

  5. To appoint Mr. R. V. Balasubramaniam Iyer (DIN 10265799), as an Independent Director of the Company, not liable to retire by rotation and to hold office for a term of 5 (five) consecutive years on the Board of the Company with effect from 1st February, 2024 up to 31st January, 2029MoreLess
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.44%

    Turnout: all 54.75% · promoters 100.00% · institutions 83.91% · other public 0.71%

  6. To Ratify the Remuneration of the Cost Auditor in terms of Section 148 of the Companies Act, 2013 read with Companies(Audit and Auditors) Rules, 2014.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 54.75% · promoters 100.00% · institutions 83.91% · other public 0.71%

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 2022, 5 resolutions

Present: 5 promoters and 39 others.The company's voting result (opens in a new tab)

  1. To Approve the Financial Statements (Standalone and Consolidated) for the Financial Year 2021-2022
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 53.11% · promoters 100.00% · institutions 48.70% · other public 0.46%

  2. To declare Dividend 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 53.11% · promoters 100.00% · institutions 48.70% · other public 0.46%

  3. To appoint a Director in place of Mrs. Nitya Mirchandani (DIN 06882384) who retires by rotation and being eligible offers herself for re-appointment.
    Ordinary
    99.55% for0.45% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.02%

    Turnout: all 53.11% · promoters 100.00% · institutions 48.70% · other public 0.46%

  4. To Appointment Statutory Auditors for a period of 5(Five) consecutive years
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 53.11% · promoters 100.00% · institutions 48.70% · other public 0.46%

  5. To Ratify the Remuneration of the Cost Auditor in terms of Section 148 of the Companies Act, 2013 read with Companies(Audit and Auditors) Rules, 2014.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 53.11% · promoters 100.00% · institutions 48.70% · 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, 19 Apr 2022, 2 resolutions

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

  1. To appoint Mr. Nrupang Bhumitra Dholakia (DIN: 06522711) as a Director of the Company
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.62%

    Turnout: all 52.98% · promoters 100.00% · institutions 0.00% · other public 0.68%

  2. To appoint Mr. Nrupang Bhumitra Dholakia (DIN: 06522711), as an Independent Director of the Company, not liable to retire by rotation and to hold office for a term of 5 (five) consecutive years on the Board of the Company with effect from 15th March, 2022 up to 14th March, 2027MoreLess
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.80%

    Turnout: all 52.98% · promoters 100.00% · institutions 0.00% · other public 0.68%

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 Sep 2021, 5 resolutions

Present: 4 promoters and 59 others.The company's voting result (opens in a new tab)

  1. Approval of the Audited Financial Statements of the Company(both Standalone and Consolidated) for the Financial Year ended 31st March, 2021 together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.37%

    Turnout: all 49.84% · promoters 93.79% · institutions 0.00% · other public 0.96%

  2. Declaration of Dividend for the Financial Year-2020-21.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.30%

    Turnout: all 49.84% · promoters 93.79% · institutions 0.00% · other public 0.96%

  3. Appointment of a Director in place of Dr. Jimmy Mirchandani (DIN 00239021) 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 1.29%

    Turnout: all 49.84% · promoters 93.79% · institutions 0.00% · other public 0.96%

  4. Re-appointment of Dr. Rahul Mirchandani as the Managing Director, for the a period of 5(Five) Years from 1st April, 2022 to 31st March, 2027 and approval of the Remuneration to be paid to him;
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.13%

    Turnout: all 49.84% · promoters 93.79% · institutions 0.00% · other public 0.96%

  5. Ratification of the Remuneration of the Cost Auditor in terms of Section 148 of the Companies Act, 2013 read with Companies(Audit and Auditors) Rules, 2014.
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 8.06%

    Turnout: all 49.84% · promoters 93.79% · institutions 0.00% · other public 0.96%

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.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeAssistant Commissioner of State, Tax- D-032, Inv-A, Mazgaon, Mumbai.Since 4 Sep 2026
    The GST Appellate Authority, Mazgaon, Mumbai vide Order dated 04.09.2026 has confirmed the Demand pertaining to the availment of Input Tax Credit (ITC) of Rs. 3,96,45,090/- including interest and penalty on inward supplies of inputs from vendors whose GST registrations were subsequently cancelled retrospectively for FY 2018-19.MoreLess
    At the filing before: Demand pertaining to the availment of Input Tax Credit (ITC) on inward supplies of inputs from Vendors where Registration under GST was cancelled retrospectively

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

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
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.