Ashoka Buildcon MD, chairman, board of directors and AGM
NSE: ASHOKABSE: 533271ConstructionSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹101.09.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹2,765 Cr879th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 11 Aug 2026
- 1.1
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹2,144 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 8.7
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 22 May 2026
- 0.4
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business.
- Assets held for saleon the latest balance sheet
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- Assets held for saleon the latest balance sheet
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- Assets held for saleon the latest balance sheet
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 9,87,43047.9% delivered
Ashoka Buildcon 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
- ChairpersonAshok Katariya
- Managing directorSatish Parakh
- Managing directorSanjay Londhe
- Managing directorAshish Kataria
- Company Secretary and Compliance OfficerManoj A. Kulkarni
8 directors4 independent4 executive
- Ashok Katariya · ChairpersonExecutive · joined May 1993 · reappointed Apr 2026 · 1 listed board
- Satish Parakh · Managing directorExecutive · joined May 1993 · reappointed Apr 2025 · 1 listed board · 1 committee seat, 1 as chair
- Sanjay Londhe · Managing directorExecutive · joined May 2012 · reappointed Apr 2025 · 1 listed board
- Ashish Kataria · Managing directorExecutive · joined Apr 2022 · 1 listed board · 1 committee seat
- Mahendra MehtaIndependent · joined Apr 2020 · reappointed Apr 2025 · 78 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Shilpa HiranIndependent · joined Feb 2021 · reappointed Feb 2026 · 68 months as independent · 1 listed board · 1 as independent · 3 committee seats
- Mario NazarethIndependent · joined Feb 2024 · 32 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Nikhilesh PanchalIndependent · joined Feb 2024 · 32 months as independent · 2 listed boards · 2 as independent · 7 committee seats, 2 as chair
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
- 11 Aug 20267 of 8 present3 independent · 81 days in between
- 21 May 20266 of 8 present3 independent
Audit Committee
Chair Mario Nazareth
Shilpa Hiran, Ashish Kataria, Mahendra Mehta
- 11 Aug 20263 of 4 present2 independent · 81 days in between
- 21 May 20262 of 4 present2 independent
Nomination and remuneration committee
Chair Nikhilesh Panchal
Mahendra Mehta, Shilpa Hiran
- 10 Aug 20263 of 3 present3 independent
- 20 May 20262 of 3 present2 independent
Stakeholders Relationship Committee
Chair Nikhilesh Panchal
Mahendra Mehta, Shilpa Hiran
No meeting listed in the filing.
Risk Management Committee
Chair Sanjay Londhe
Paresh Mehta, Shilpa Hiran
- 21 Sep 20263 of 3 present1 independent · 41 days in between
Corporate Social Responsibility Committee
Chair Sanjay Londhe
Mario Nazareth, Nikhilesh Panchal
- 10 Aug 20263 of 3 present3 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.
- S R B C & CO LLPPeer-review certificate valid to Feb 2029
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.
Ashoka Buildcon 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.Ashoka Buildcon dividend history
Annual general meeting, 25 Sep 2026
2,05,107 shareholders on the register on 18 Sep 2026; present: 18 promoters and 24 others; votes counted by Mr. Vishwanath / Sharma and Trivedi LLP.The company's voting result (opens in a new tab)
- 1 - To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.09%
Turnout: all 72.11% · promoters 100.00% · institutions 96.95% · other public 4.52%
- 2 - To receive, consider and adopt the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, together with the report of the Auditors thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.09%
Turnout: all 72.11% · promoters 100.00% · institutions 96.95% · other public 4.52%
- 3 - To appoint Mr. Sanjay Londhe (DIN: 00112604), who retires by rotation as a director and being eligible, offers himself for re-appointmentOrdinaryPromoters have an interest in it99.97% for0.03% against
Against: promoters 0.00% · institutions 0.11% · other public 0.11%
Turnout: all 71.92% · promoters 99.66% · institutions 96.95% · other public 4.52%
- 4 - To appoint Mr. Ashish Kataria (DIN: 00580763), who retires by rotation as a director and being eligible, offers himself for re-appointmentOrdinaryPromoters have an interest in it94.26% for5.74% against
Against: promoters 0.00% · institutions 21.59% · other public 0.11%
Turnout: all 61.47% · promoters 80.46% · institutions 96.95% · other public 4.52%
- 5 - Ratification of Remuneration Payable to M/s. S. R. Bhargave & Co., Cost Auditors of the Company for the financial year ending March 31, 2027Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.13%
Turnout: all 72.11% · promoters 100.00% · institutions 96.95% · other public 4.52%
- 6 - Re-designation of Mr. Sanjay Londhe (DIN: 00112604), Whole-time Director as Joint Managing Director of the CompanySpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.11%
Turnout: all 71.92% · promoters 99.66% · institutions 96.95% · other public 4.52%
- 7 - Re-designation of Mr. Ashish Kataria (DIN: 00580763), Whole-time Director as Joint Managing Director of the CompanySpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.12%
Turnout: all 61.47% · promoters 80.46% · institutions 96.95% · other public 4.52%
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, 8 Mar 2026, 2 resolutions
1,94,299 shareholders on the register on 30 Jan 2026; votes counted by Vishwanath / Sharma & Trivedi LLP.The company's voting result (opens in a new tab)
To re-appoint Mr. Ashok Katariya (DIN: 00112240), as a Whole-time Director, to be designated as Chairman of the Company for a period of three (3) years from April 01, 2026 and to obtain approval for the remuneration payable to him on his re-appointmentMoreLess
SpecialPromoters have an interest in it99.32% for0.68% againstAgainst: promoters 0.00% · institutions 1.33% · other public 0.30%
Turnout: all 41.37% · promoters 34.92% · institutions 95.47% · other public 6.14%
To re-appoint Mr. Ashok Katariya (DIN: 00112240), as a Whole-time Director, to be designated as Chairman of the Company for a period of three (3) years from April 01, 2026 and to obtain approval for the remuneration payable to him on his re-appointmentMoreLess
Special93.02% for6.98% againstAgainst: promoters 0.00% · institutions 25.63% · other public 0.31%
Turnout: all 76.82% · promoters 99.99% · institutions 95.47% · other public 6.14%
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, 6 resolutions
2,00,377 shareholders on the register on 22 Sep 2025; present: 24 promoters and 19 others; votes counted by Mr. Vishwanath / Sharma and Trivedi LLP.The company's voting result (opens in a new tab)
1 - To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon and if thought fit, to pass, the following resolution as an.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 76.29% · promoters 100.00% · institutions 93.90% · other public 6.86%
2 - To consider and adopt the Audited Consolidated Financial Statements for the financial year ended March 31, 2025, together with the report of the Auditors thereon and if thought fit, to pass, the following resolution as an.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 76.29% · promoters 100.00% · institutions 93.90% · other public 6.86%
3 - To appoint Mr. Ashok Katariya (DIN: 00112240), who retires by rotation as a director and being eligible, offers himself for re-appointment, and in this regard, to consider and if thought fit to pass, the following resolution as an.MoreLess
OrdinaryPromoters have an interest in it98.38% for1.62% againstAgainst: promoters 0.00% · institutions 3.27% · other public 0.02%
Turnout: all 41.05% · promoters 34.93% · institutions 94.86% · other public 6.86%
4 - To appoint Mr. Satish Parakh (DIN: 00112324), who retires by rotation as a director and being eligible, offers himself for re-appointment and in this regard, to consider and if thought fit to pass, the following resolution as an.MoreLess
OrdinaryPromoters have an interest in it99.26% for0.74% againstAgainst: promoters 0.00% · institutions 2.05% · other public 0.02%
Turnout: all 56.52% · promoters 63.33% · institutions 94.86% · other public 6.86%
- 5 - Ratification of Remuneration Payable to M/s. S. R. Bhargave & Co., Cost Auditors of the Company for the financial year ending March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 76.50% · promoters 100.00% · institutions 94.86% · other public 6.86%
- 6 - Appointment of M/s. Sharma and Trivedi, LLP, Practicing Company Secretaries as Secretarial Auditors of the Company.Ordinary99.79% for0.21% against
Against: promoters 0.00% · institutions 0.80% · other public 0.02%
Turnout: all 76.50% · promoters 100.00% · institutions 94.86% · other public 6.86%
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, 26 Jun 2025, 2 resolutions
1,93,895 shareholders on the register on 23 May 2025; votes counted by Vishwanath / Sharma & Trivedi LLP.The company's voting result (opens in a new tab)
1 - Re-appointment of Mr. Satish Parakh (DIN: 00112324), as a Managing Director of the Company for a period of three (3) years from April 01, 2025 and to approve the remuneration payable to him on his re-appointmentMoreLess
SpecialPromoters have an interest in it99.60% for0.40% againstAgainst: promoters 0.00% · institutions 1.11% · other public 0.18%
Turnout: all 55.61% · promoters 63.33% · institutions 93.56% · other public 4.66%
2 - Re-appointment of Mr. Sanjay Londhe (DIN: 00112604), as a Whole-time Director of the Company for a period of three (3) years from April 01 2025 and to approve the remuneration payable to him on his re-appointmentMoreLess
SpecialPromoters have an interest in it99.81% for0.19% againstAgainst: promoters 0.00% · institutions 0.70% · other public 0.17%
Turnout: all 75.31% · promoters 99.48% · institutions 93.56% · other public 4.66%
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, 30 Mar 2025, 2 resolutions
1,85,728 shareholders on the register on 21 Feb 2025; votes counted by Vishwanath / Sharma & Trivedi LLP.The company's voting result (opens in a new tab)
- Approval for re-appointment of Mr. Mahendra Mehta (DIN: 07745442) as an independent director for 2nd term of 5 consecutive years w.e.f. April 01, 2025Special86.72% for13.28% against
Against: promoters 0.00% · institutions 51.51% · other public 0.09%
Turnout: all 75.88% · promoters 100.00% · institutions 87.06% · other public 7.99%
Approval for divestment of entire stake held by the Company through Ashoka Concessions Limited, a subsidiary, in Ashoka Ankleshwar Manubar Expressway Private Limited, (“SPV”) a material unlisted subsidiaryMoreLess
Special99.80% for0.20% againstAgainst: promoters 0.00% · institutions 0.77% · other public 0.06%
Turnout: all 75.88% · promoters 100.00% · institutions 87.06% · other public 7.99%
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, 7 resolutions
Present: 26 promoters and 21 others.The company's voting result (opens in a new tab)
1 - To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the year ended March 31, 2024, along with the reports of the Board of Directors (“Board”) and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 80.85% · promoters 100.00% · institutions 92.64% · other public 9.85%
- 2 - To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the year ended March 31, 2024, along with the report of the Auditors thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 80.85% · promoters 100.00% · institutions 92.64% · other public 9.85%
- 3 - Re-appointment of Mr. Sanjay Londhe (DIN: 00112604), who retires by rotation and being eligible offers himself for re-appointmentOrdinaryPromoters have an interest in it99.18% for0.82% against
Against: promoters 0.00% · institutions 2.63% · other public 0.40%
Turnout: all 80.95% · promoters 99.48% · institutions 94.10% · other public 9.85%
- 4 - Re-appointment of Mr. Ashish Kataria (DIN: 00580763), who retires by rotation and being eligible offers himself for re-appointmentOrdinaryPromoters have an interest in it85.75% for14.25% against
Against: promoters 0.00% · institutions 26.21% · other public 0.39%
Turnout: all 45.79% · promoters 34.93% · institutions 94.10% · other public 9.85%
- 5 - Appointment of M/s S R Bhargave & Co., Cost Accountants (FRN 000218) as Cost Auditors for FY2024-25 and ratification of the remuneration payable for FY2024-25Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 81.24% · promoters 100.00% · institutions 94.10% · other public 9.85%
- 6 - Remuneration payable to Mr. Ashish Kataria (DIN: 0580763) Whole-time DirectorSpecialPromoters have an interest in it97.36% for2.64% against
Against: promoters 0.00% · institutions 4.83% · other public 0.39%
Turnout: all 45.79% · promoters 34.93% · institutions 94.10% · other public 9.85%
- 7 - Revision of remuneration payable to Mr. Aditya Parakh, Chief Operating OfficerOrdinaryPromoters have an interest in it88.78% for11.22% against
Against: promoters 0.00% · institutions 27.60% · other public 0.39%
Turnout: all 61.26% · promoters 63.33% · institutions 94.10% · other public 9.85%
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, 17 Mar 2024, 4 resolutions
The company's voting result (opens in a new tab)
- Re-appointment of Mr. Ashok Katariya (DIN: 00112240) as Whole-time Director to be designated as the ChairmanSpecialPromoters have an interest in it98.46% for1.54% against
Against: promoters 0.00% · institutions 2.86% · other public 0.04%
Turnout: all 44.44% · promoters 34.88% · institutions 94.88% · other public 7.48%
- Revision of remuneration payable to Mr. Ashok Katariya (DIN: 00112240) on his re-appointment as Whole-time Director to be designated as the ChairmanSpecialPromoters have an interest in it97.62% for2.38% against
Against: promoters 0.00% · institutions 4.41% · other public 0.06%
Turnout: all 44.44% · promoters 34.88% · institutions 94.88% · other public 7.48%
- Appointment of Mr. Mario Nazareth (DIN: 00013337) as an Independent Director of the CompanySpecial99.89% for0.11% against
Against: promoters 0.00% · institutions 0.37% · other public 0.04%
Turnout: all 79.39% · promoters 99.03% · institutions 94.88% · other public 7.48%
- Appointment of Mr. Nikhilesh Panchal (DIN: 00041080) as an Independent Director of the CompanySpecial99.89% for0.11% against
Against: promoters 0.00% · institutions 0.37% · other public 0.03%
Turnout: all 79.39% · promoters 99.03% · institutions 94.88% · other public 7.48%
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, 8 resolutions
Present: 32 promoters and 38 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the year ended March 31, 2023, along with the reports of the Board of Directors (“Board”) and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 76.29% · promoters 99.83% · institutions 87.23% · other public 9.27%
- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the year ended March 31, 2023, along with the report of the Auditors thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 76.29% · promoters 99.83% · institutions 87.23% · other public 9.27%
- Re-appointment of Mr. Ashok Katariya (DIN: 00112240), who retires by rotation and being eligible offers himself for re-appointmentOrdinaryPromoters have an interest in it99.79% for0.21% against
Against: promoters 0.00% · institutions 0.42% · other public 0.12%
Turnout: all 40.97% · promoters 34.93% · institutions 87.41% · other public 9.27%
- Re-appointment of Mr. Satish Parakh (DIN: 00112324), who retires by rotation and being eligible offers himself for re-appointmenOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.13%
Turnout: all 56.35% · promoters 63.16% · institutions 87.41% · other public 9.27%
- Remuneration payable to Mr. Ashish Kataria (DIN: 0580763) Whole-time DirectorSpecialPromoters have an interest in it94.54% for5.46% against
Against: promoters 0.00% · institutions 11.26% · other public 0.30%
Turnout: all 40.97% · promoters 34.93% · institutions 87.41% · other public 9.27%
- Appointment of M/s S R Bhargave & Co., Cost Accountants (FRN 000218) as Cost Auditors for FY 2023-24 and ratification of the remuneration payable for FY 2023-24Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.11%
Turnout: all 76.33% · promoters 99.83% · institutions 87.41% · other public 9.27%
- Authority to the Board of Directors to borrowSpecial92.84% for7.16% against
Against: promoters 0.00% · institutions 27.56% · other public 0.13%
Turnout: all 76.33% · promoters 99.83% · institutions 87.41% · other public 9.27%
- Authority to the Board of Directors to create mortgage etc.Special91.76% for8.24% against
Against: promoters 0.00% · institutions 31.71% · other public 0.12%
Turnout: all 76.33% · promoters 99.83% · institutions 87.41% · other public 9.27%
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.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 25 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)
- 1 - To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon2 for0 against
- 2 - To receive, consider and adopt the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, together with the report of the Auditors thereon2 for0 against
- 3 - To appoint Mr. Sanjay Londhe (DIN: 00112604), who retires by rotation as a director and being eligible, offers himself for re-appointment2 for0 against
- 4 - To appoint Mr. Ashish Kataria (DIN: 00580763), who retires by rotation as a director and being eligible, offers himself for re-appointment2 for0 against
- 5 - Ratification of Remuneration Payable to M/s. S. R. Bhargave & Co., Cost Auditors of the Company for the financial year ending March 31, 20272 for0 against
- 6 - Re-designation of Mr. Sanjay Londhe (DIN: 00112604), Whole-time Director as Joint Managing Director of the Company2 for0 against
- 7 - Re-designation of Mr. Ashish Kataria (DIN: 00580763), Whole-time Director as Joint Managing Director of the Company2 for0 against
Mutual fund votes, meeting of 8 Mar 2026, 9 fund houses
- 1) Reappoint Ashok Katariya (DIN: 00112240) as Whole time Director, designated as Chairperson for three years from 1 April 2026 and fix his remuneration as minimum remuneration.1 for0 against
- 2) Reappoint Ms. Shilpa Hiran (DIN: 09045534) as Independent Director for five years from 1 February 2026.1 for0 against
Re-appointment of Ms. Shilpa Hiran (DIN: 09045534) as an Independent Director of the Company, not liable to retire by rotation, for a second term of five (5) consecutive years commencing from 01st February, 2026 up to 31st January, 2031.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundPrior shareholders’approval not obtained for re-appointment as Independent Director.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointee. Non-Compliance w.r.t Companies Act, 2013: The term of Ms. Shilpa Hiran has already ended on 31st January, 2026. The eligibility for re-appointment is approval of shareholders by way of special resolution and eligibility has to be established by the time re-appointment starts. Therefore, such approval should have been obtained on or before 31st January, 2026. In the present case, the Company proposes to re-appoint her for a further term of five consecutive years with effect from 1 st February, 2026, however, the approval will be obtained only post 8 th March, 2026. As prior approval of the shareholders has not been obtained for her re-appointment as an Independent Director, the proposed re-appointment is not in accordance with law.
3 for4 against- Reappoint Ashok Katariya (DIN: 00112240) as Whole time Director, designated as Chairperson for three years from 1 April 2026 and fix his remuneration as minimum remuneration1 for0 against
- Reappoint Ms. Shilpa Hiran (DIN: 09045534) as Independent Director for five years from 1 February 20261 for0 against
To re-appoint Mr. Ashok Katariya (DIN: 00112240), as a Whole-time Director, to be designated as Chairman of the Company for a period of three (3) years from April 01, 2026 and the remuneration payable to him on his re-appointment.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Combined position of Chairman & Executive Director leading to concentration of power in the hands of single person.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern identified w.r.t. his profile, time-commitment, attendance and proposed remuneration. Governance concern: Mr. Ashok Katariya is holding combined position as Chairman & Executive Director of the Company. As a good corporate governance practices the Company should have separated the position of chairman from the executive position as holding both the positions of Chairman and Executive Director by the same person may lead to concentration of powers in the hands of single person.
3 for4 against
6 earlier meetings
Mutual fund votes, meeting of 29 Sep 2025, 9 fund houses
1 - To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon and if thought fit, to pass, the following resolution as an.MoreLess
9 for0 against2 - To consider and adopt the Audited Consolidated Financial Statements for the financial year ended March 31, 2025, together with the report of the Auditors thereon and if thought fit, to pass, the following resolution as an.MoreLess
9 for0 against3 - To appoint Mr. Ashok Katariya (DIN: 00112240), who retires by rotation as a director and being eligible, offers himself for re-appointment, and in this regard, to consider and if thought fit to pass, the following resolution as an.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Combined position of Chairman & Executive Director.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman & Executive Director.
5 for4 against4 - To appoint Mr. Satish Parakh (DIN: 00112324), who retires by rotation as a director and being eligible, offers himself for re-appointment and in this regard, to consider and if thought fit to pass, the following resolution as an.MoreLess
9 for0 against- 5 - Ratification of Remuneration Payable to M/s. S. R. Bhargave & Co., Cost Auditors of the Company for the financial year ending March 31, 2026.9 for0 against
- 6 - Appointment of M/s. Sharma and Trivedi, LLP, Practicing Company Secretaries as Secretarial Auditors of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: Failure to highlight previous non-compliance by the Secretarial Auditors in their Secretarial Audit Report or Compliance Report.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Failure to highlight previous non-compliance by the Secretarial Auditors in their Secretarial Audit Report or Compliance Report.
5 for4 against
Mutual fund votes, meeting of 26 Jun 2025, 9 fund houses
1 - Re-appointment of Mr. Satish Parakh (DIN: 00112324), as a Managing Director of the Company for a period of three (3) years from April 01, 2025 and to approve the remuneration payable to him on his re-appointmentMoreLess
9 for0 against2 - Re-appointment of Mr. Sanjay Londhe (DIN: 00112604), as a Whole-time Director of the Company for a period of three (3) years from April 01 2025 and to approve the remuneration payable to him on his re-appointmentMoreLess
9 for0 against
Mutual fund votes, meeting of 30 Mar 2025, 8 fund houses
- Approval for re-appointment of Mr. Mahendra Mehta (DIN: 07745442) as an independent director for 2nd term of 5 consecutive years w.e.f. April 01, 2025
Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Proposed term will lead to prolonged association with the Group. Transparency Concern: No clarity on whether appointee holds non-independent position in group company.
- HDFC Mutual FundGiven that his overall association with the group will exceed ten years during his proposed tenure, we do not support his appointment as an Independent Director.
- Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
3 for5 against Approval for divestment of entire stake held by the Company through Ashoka Concessions Limited, a subsidiary, in Ashoka Ankleshwar Manubar Expressway Private Limited, (“SPV”) a material unlisted subsidiaryMoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures, shareholders cannot take an informed decision.
5 for3 against
Mutual fund votes, meeting of 27 Sep 2024, 7 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
1 - To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the year ended March 31, 2024, along with the reports of the Board of Directors (“Board”) and Auditors thereonMoreLess
7 for0 against- 2 - To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the year ended March 31, 2024, along with the report of the Auditors thereon
Against Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual FundUnqualified financial statements (Except certain non-material remarks in CARO Report). Compliant with Indian Accounting Standards. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed financials of all of its subsidiaries for FY 2023-24 on its website.
4 for3 against - 3 - Re-appointment of Mr. Sanjay Londhe (DIN: 00112604), who retires by rotation and being eligible offers himself for re-appointment7 for0 against
- 4 - Re-appointment of Mr. Ashish Kataria (DIN: 00580763), who retires by rotation and being eligible offers himself for re-appointment7 for0 against
- 6 - Remuneration payable to Mr. Ashish Kataria (DIN: 0580763) Whole-time Director7 for0 against
- 7 - Revision of remuneration payable to Mr. Aditya Parakh, Chief Operating Officer
Against Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual FundNon-Compliant with Section 188 of Companies Act, 2013: Prior approval of shareholders not sought.
- Motilal Oswal Mutual FundNon-Compliant with Section 188 of Companies Act, 2013: Prior approval of shareholders not sought
2 for4 against
3 proposals not matched to one resolution
- 5) Ratify remuneration of Rs.540,000 for S. R. Bhargave & Co, as cost auditors for FY25.1 for0 against
- 7) Approve continuation of Aditya Parakh as Chief Operating Officer – Business Monitoring, holding a place of profit and fix his remuneration.1 for0 against
Ratification of Remuneration of Rs.5,40,000/- plus applicable taxes and out-of-pocket expenses at actuals, if any, payable to M/s. S. R. Bhargave and Co., Cost Accountants (Firm Registration No.: 000218), who have been appointed by the Board of Directors on the recommendation of Audit Committee, as the Cost Auditors of the Company to conduct the Audit of the Cost Records maintained by the Company as prescribed under the Companies (Cost Record and Audit) Rules, 2014 as amended for the Financial Year ending March 31, 2025.MoreLess
6 for0 against
Mutual fund votes, meeting of 17 Mar 2024, 8 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Re-appointment of Mr. Ashok Katariya (DIN: 00112240) as Whole-time Director to be designated as the Chairman
Against Groww Mutual Fund, Motilal Oswal Mutual Fund
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman & ED.
6 for2 against - Revision of remuneration payable to Mr. Ashok Katariya (DIN: 00112240) on his re-appointment as Whole-time Director to be designated as the Chairman
Against Groww Mutual Fund, Motilal Oswal Mutual Fund
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman & ED.
4 for2 against - Appointment of Mr. Mario Nazareth (DIN: 00013337) as an Independent Director of the Company8 for0 against
- Appointment of Mr. Nikhilesh Panchal (DIN: 00041080) as an Independent Director of the Company8 for0 against
2 proposals not matched to one resolution
- 2) Reappoint Ashok Katariya (DIN: 00112240) as Whole-time Director, designated as Chairperson, for two years from 1 April 2024, and fix his remuneration.1 for0 against
- Reappoint Ashok Katariya (DIN: 00112240) as Whole-time Director, designated as Chairperson, for two years from 1 April 2024, and fix his remuneration1 for0 against
Mutual fund votes, meeting of 29 Sep 2023, 9 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the year ended March 31, 2023, along with the reports of the Board of Directors (“Board”) and Auditors thereonMoreLess
9 for0 against- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the year ended March 31, 2023, along with the report of the Auditors thereon9 for0 against
- Re-appointment of Mr. Ashok Katariya (DIN: 00112240), who retires by rotation and being eligible offers himself for re-appointment
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman & ED.
8 for1 against - Re-appointment of Mr. Satish Parakh (DIN: 00112324), who retires by rotation and being eligible offers himself for re-appointmen9 for0 against
- Remuneration payable to Mr. Ashish Kataria (DIN: 0580763) Whole-time Director
Against HSBC Mutual Fund
- HSBC Mutual FundThe performance criteria and vesting periods for the LTIP are not disclosed. His fixed pay has been increased substantially in a period of only one year, without a compelling justification being disclosed by the company
8 for1 against - Authority to the Board of Directors to borrow
Against Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
- Kotak Mahindra Mutual FundResolution on increase in borrowing limit and/or creating charge on the assets to the tune of INR180b is out of context given that company already has current limits to borrow up to INR120b, while actual utilisation is merely ~INR17b. Given that there is already a huge room from the current limit for the company to cater to growing needs of the business, the resolution to increase borrowing limit up to INR180b looks untenable. Hence voting AGAINST .
- Motilal Oswal Mutual FundCompliant with law. Governance Concern: Significant portion of the existing limit is unutilized.
7 for2 against - Authority to the Board of Directors to create mortgage etc.
Against HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
- HSBC Mutual FundWe are concerned about potential negative impact on shareholder value
- Kotak Mahindra Mutual FundResolution on increase in borrowing limit and/or creating charge on the assets to the tune of INR180b is out of context given that company already has current limits to borrow up to INR120b, while actual utilisation is merely ~INR17b. Given that there is already a huge room from the current limit for the company to cater to growing needs of the business, the resolution to increase borrowing limit up to INR180b looks untenable. Hence voting AGAINST .
- Motilal Oswal Mutual FundCompliant with law. Governance Concern: Significant portion of the existing limit is unutilized.
6 for3 against
3 proposals not matched to one resolution
- Approve Remuneration of Cost Auditors1 for0 against
Ratification of remuneration of Rs.5,40,000/- plus applicable taxes and out-of-pocket expenses payable to M/s. S. R. Bhargave and Co., Cost Accountants (Firm Registration No.: 000218), who have been appointed by the Board of Directors on the recommendation of Audit Committee, as the Cost Auditors of the Company to conduct the Audit of the Cost Records maintained by the Company as prescribed under the Companies (Cost Record and Audit) Rules, 2014 as amended for the Financial Year ending March 31, 2024.MoreLess
6 for0 against- Ratify remuneration of Rs.540,000 for S. R. Bhargave & Co, as cost auditors for FY242 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Fines and stakes in unlisted companies
Reported in the filing for the quarter to Sep 2026.
- Unlisted stake boughtSakoli Power Transmission LimitedSince 23 Sep 2026
100.00% bought in the quarter; holding 100.00%, from 0.00%
- Unlisted stake heldAshoka-RDB Infrastructure and Development Private LimitedSince 25 Sep 2026
0.00% bought in the quarter; holding 51.00%, from 51.00%
- Fine or penaltyBSE LimitedSince 17 Mar 2025
BSE Limited imposed fine of Rs. 29,000/- (Rupees Twenty Nine Thousand only) for delay in submitting disclosure under Regulation 52(7)/(7A) indicating utilization of NCD proceeds.
For delay in submitting disclosure under Regulation 52(7)/(7A) indicating utilization of NCD proceeds.
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
- 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
- No
- The filing has a part on fines and penalties
- Yes
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.