AWL Agri Business CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 7 Jul 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

• To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended on March 31, 2026 together with the Reports of the Board of Directors and Auditors thereon.MoreLess

  8 for0 against
• To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026 together with the Reports of the Auditors thereon.

  8 for0 against
• To declare final dividend of Re. 1 (Rupee one only) (100%) per equity share having face value of Re. 1 (Rupee one only) each of the Company for the financial year ended March 31, 2026.

  8 for0 against
• To appoint a Director in place of Mr. Angshu Mallick (DIN: 02481358), who retires by rotation and being eligible, offers himself for re-appointment

  8 for0 against
• To appoint a Director in place of Mr. Ravindra Kumar Singh (DIN: 08253320), who retires by rotation and being eligible, offers himself for re-appointment

  8 for0 against
• To approve the material related party transaction(s) proposed to be entered into by the Company along with its subsidiaries during the financial year 2026-2027 with Wilmar Trading Pte. Ltd

  8 for0 against
• To approve re-appointment of Mr. Ravindra Kumar Singh (DIN: 08253320) as a Whole Time Director (Executive, Non- Independent) of the Company liable to retire by rotation for a term of 3 consecutive years w.e.f. November 1 2026.MoreLess

  8 for0 against
• To ratify the remuneration payable to M/s Dalwadi & Associates, Practicing Cost Accountants (Firm Regn No:000338), Cost Auditors of the Company for the financial year ending March 31, 2027

  8 for0 against
• To approve the payment of remuneration by way of commission to the Non-Executive Independent Directors of the Company

  8 for0 against

Mutual fund votes, meeting of 16 Jan 2026, 21 fund houses

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

• Appointment of Mr. Shrikant Kanhere (DIN: 07185218) as a Director of the Company

  18 for0 against
• Appointment of Mr. Shrikant Kanhere (DIN: 07185218) as Managing Director and Chief Executive Officer (CEO) of the Company

  ›Against Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual FundShrikant Kanhere, 58, has been serving as Deputy Chief Executive Officer and Chief Financial Officer of AWL Agri Business Limited since December 2024. He has been associated with the company since May 2013.We estimate Shrikant Kanhere’s annual cash pay at Rs. 80.0 mn. However, we are unable to estimate his overall remuneration since the company has not disclosed the details of stock options proposed to be granted to him during his tenure as Managing Director and CEO. We believe the company should disclose the quantum of stock options proposed to be granted to directors over their tenure as well as the performance metrics that will be used to determine the incentive payout. In the absence of such disclosures, we are unable to make a reasonable estimate of the total proposed remuneration. While we support his appointment, we are unable to support the resolution given the lack of clarity on the overall proposed remuneration.We note that Angshu Mallick has been re-designated from Managing Director and CEO to Executive Deputy Chairperson w.e.f. 4 November 2025. The company must provide clarity regarding the roles and demarcation of responsibilities of Shrikant Kanhere and Angshu Mallick.
  • SBI Mutual FundShrikant Kanhere, 58, has been serving as Deputy Chief Executive Officer and Chief Financial Officer of AWL Agri Business Limited since December 2024. He has been associated with the company since May 2013.We estimate Shrikant Kanhere’s annual cash pay at Rs. 80.0 mn. However, we are unable to estimate his overall remuneration since the company has not disclosed the details of stock options proposed to be granted to him during his tenure as Managing Director and CEO. We believe the company should disclose the quantum of stock options proposed to be granted to directors over their tenure as well as the performance metrics that will be used to determine the incentive payout. In the absence of such disclosures, we are unable to make a reasonable estimate of the total proposed remuneration. While we support his appointment, we are unable to support the resolution given the lack of clarity on the overall proposed remuneration.We note that Angshu Mallick has been re-designated from Managing Director and CEO to Executive Deputy Chairperson w.e.f. 4 November 2025. The company must provide clarity regarding the roles and demarcation of responsibilities of Shrikant Kanhere and Angshu Mallick

  17 for4 against
• Appointment of Mr. Saumin Sheth (DIN: 03586740) as a Director of the Company

  19 for0 against
• Appointment of Mr. Saumin Sheth (DIN: 03586740) as Whole Time Director designated as Executive Director and Chief Operating Officer (COO) of the Company

  ›Against Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual FundWe estimate Saumin Sheth’s annual cash pay at Rs. 60.0 mn. However, we are unable to estimate his overall remuneration since the company has not disclosed the details of stock options proposed to be granted to him during his tenure as WTD & Chief Operating Officer. We believe the company should disclose the quantum of stock options proposed to be granted to directors over their tenure as well as the performance metrics that will be used to determine the incentive payout. In the absence of such disclosure, we are unable to make a reasonable estimate of the total proposed remuneration. While we support his appointment, we are unable to support the resolution given the lack of clarity on the overall proposed remuneration.

  17 for4 against
• Re-appointment of Mr. Dorab E. Mistry (DIN: 07245114) as an Independent Director of the Company

  ›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, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Axis Mutual FundDorab Mistry, 72, is a Chartered accountant and commodity expert. We note that since 1 November 2025, he is serving on the board of Shree Renuka Sugars Limited – a listed entity with Wilmar International as promoter with 62.68% stake. He previously served as an Independent Director on the board of Shree Renuka Sugars for six years from 27 September 2016 to 22 August 2022. He has been on the board of AWL Agri Business Limited since 10 June 2021. He attended 100% (9 out of 9) board meetings in FY25. While his appointment is in line with statutory requirements, we raise concerns that his overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Baroda BNP Paribas Mutual FundMr. Dorab Erach Mistry is a distinguished commodity expert associated with the promoter group since 9 years. Upon completion of his proposed tenure, his cumulative association with the promoter group will exceed ten years. Due to his long-term association with the promoter group, we do not support his appointment as an Independent Director.
  • HDFC Mutual FundMr. Dorab Mistry, 72, is a Chartered accountant and commodity expert. We note that since 1 November 2025, he is serving on the board of Shree Renuka Sugars Limited – a listed entity with Wilmar International as promoter with 62.68% stake. He previously served as an Independent Director on the board of Shree Renuka Sugars for six years from 27 September 2016 to 22 August 2022. He has been on the board of AWL Agri Business Limited since 10 June 2021. His overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. We do not support the resolution.
  • Nippon India Mutual FundGovernance Concern: Prolonged association with the Group.
  • quant Mutual FundCompliant with the law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.

  5 for12 against
• Continuation of term of office of Mr. Dorab E. Mistry (DIN: 07245114) as a Director (Non-Executive, Independent) beyond the age of 75 years during his current tenure

  ›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, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Axis Mutual FundDorab Mistry, 72, is a Chartered accountant and commodity expert. We note that since 1 November 2025, he is serving on the board of Shree Renuka Sugars Limited – a listed entity with Wilmar International as promoter with 62.68% stake. He previously served as Independent Director on the board of Shree Renuka Sugars for six years from 27 September 2016 to 22 August 2022. He has been on the board of AWL Agri Business Limited since 10 June 2021. He attended 100% (9 out of 9) board meetings in FY25. While his appointment is in line with statutory requirements, we raise concerns that his overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. The company also seeks shareholder approval for his continuation on the board once he attains 75 years of age during the proposed term, as required under amendments to SEBI’s LODR. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Baroda BNP Paribas Mutual FundMr. Dorab Erach Mistry is a distinguished commodity expert associated with the promoter group since 9 years. Upon completion of his proposed tenure, his cumulative association with the promoter group will exceed ten years. Due to his long-term association with the promoter group, we do not support his appointment as an Independent Director.
  • HDFC Mutual FundMr. Dorab Mistry, 72, is a Chartered accountant and commodity expert. We note that since 1 November 2025, he is serving on the board of Shree Renuka Sugars Limited – a listed entity with Wilmar International as promoter with 62.68% stake. He previously served as an Independent Director on the board of Shree Renuka Sugars for six years from 27 September 2016 to 22 August 2022. He has been on the board of AWL Agri Business Limited since 10 June 2021. His overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. We do not support the resolution.
  • Nippon India Mutual FundGovernance Concern: Prolonged association with the Group.
  • quant Mutual FundCompliant with the law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.

  6 for12 against
• Re-appointment of Mr. Madhu Ramachandra Rao (DIN: 02683483) as an Independent Director of the Company

  ›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, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Axis Mutual FundMadhu Rao, 74, is a Chartered Accountant. He was associated with Shangri-La Hotels & Resorts (now a part of Shangri-La Asia Ltd.) for nearly 30 years as CFO, President and Vice Chairperson and Executive Director. He was appointed to the board on 10 June 2021. He attended 100% (9 out of 9) board meetings in FY25. We note, that since June 2018, he is on the board of Shree Renuka Sugars – a listed entity with Wilmar International as promoter with 62.48%. While his appointment is in line with statutory requirements, we raise concerns that his overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Baroda BNP Paribas Mutual FundWhile the proposal meets statutory requirements, the ID has an association of ~8 years with the group. Upon completion of the proposed tenure, the cumulative association with the promoter group will exceed 10 years. The prolonged association compromises required independence for objective and effective oversight. Given the concern we do not support this resolution.
  • HDFC Mutual FundMr. Madhu Rao, 74, is a Chartered Accountant. He was associated with Shangri-La Hotels & Resorts (now a part of Shangri-La Asia Ltd.) for nearly 30 years as CFO, President and Vice Chairperson and Executive Director. He was appointed to the board on 10 June 2021. We note, that since June 2018, he is on the board of Shree Renuka Sugars – a listed entity with Wilmar International as promoter with 62.48%. While his appointment is in line with statutory requirements, we raise concerns that his overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. We do not support the resolution.
  • Nippon India Mutual FundGovernance Concern: Prolonged association with the Group.
  • quant Mutual FundCompliant with the law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.

  5 for12 against
• Continuation of term of office of Mr. Madhu Ramachandra Rao (DIN: 02683483) as a Director (Non-Executive, Independent) beyond the age of 75 years during his current tenure

  ›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, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Axis Mutual FundMadhu Rao, 74, is a Chartered Accountant. He was associated with Shangri-La Hotels & Resorts (now a part of Shangri-La Asia Ltd.) for nearly 30 years as CFO, President and Vice Chairperson and Executive Director. He was appointed to the board on 10 June 2021. He attended 100% (9 out of 9) board meetings in FY25. We note, since June 2018 he is also on the board of Shree Renuka Sugars – a listed entity with Wilmar International as promoter with 62.48%. While his appointment is in line with statutory requirements, we raise concerns that his overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. The company also seeks shareholder approval for his continuation on the board once he attains 75 years of age during the proposed term, as required under amendments to SEBI’s LODR. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.
  • Baroda BNP Paribas Mutual FundMr. Madhu Ramachandra Rao has been associated with the promoter group since 8 years. Upon completion of his proposed tenure, his cumulative association with the promoter group will exceed ten years. Due to his long-term association with the promoter group, we do not support his appointment as an Independent Director.
  • HDFC Mutual FundMr. Madhu Rao, 74, is a Chartered Accountant. He was associated with Shangri-La Hotels & Resorts (now a part of Shangri-La Asia Ltd.) for nearly 30 years as CFO, President and Vice Chairperson and Executive Director. He was appointed to the board on 10 June 2021. We note, that since June 2018, he is on the board of Shree Renuka Sugars – a listed entity with Wilmar International as promoter with 62.48%. While his appointment is in line with statutory requirements, we raise concerns that his overall association with the Wilmar group will exceed ten years during his proposed tenure with the company. Given the extended association, we do not support his appointment as an Independent Director. We do not support the resolution.
  • Nippon India Mutual FundGovernance Concern: Prolonged association with the Group.
  • quant Mutual FundCompliant with the law. No concern on merit of the appointee. Governance concern: The proposed term will lead to a prolonged association of more than 10 years with the group.

  6 for12 against
• Re-appointment of Mrs. Dipali Sheth (DIN: 07556685) as an Independent Director of the Company

  21 for0 against
• Re-appointment of Dr. Anup P. Shah (DIN: 00293207) as an Independent Director of the Company

  21 for0 against
• Adoption of amended Articles of Association of the Company

  21 for0 against

• Fine or penaltyAdjudicating Officer/ Additional District Magistrate, ThaneSince 27 Apr 2026

  Received order in the FSSAI matter of Thane with respect to Substandard Mustard Oil.

  Substandard Mustard Oil failing on the parameters of BR Reading at 40.C and BT Test.
• Fine or penaltyAdjudicating Officer/ Additional District Magistrate, ThaneSince 27 Apr 2026

  Received order in the FSSAI matter of Thane with respect Misbranded Fortune Vivo Blended Edible Vegetable Oil.

  Misbranded Fortune Vivo Blended Edible Vegetable Oil wherein the allegations were with respect to misleading health/diabetes-related claims on product labels.
• Fine or penaltyAdjudicating Officer/ Additional District Magistrate, ThaneSince 27 Apr 2026

  Received order in the FSSAI matter of Thane with respect to Misbranded Fortune Refined Rice Bran Oil.

  Misbranded Fortune Refined Rice Bran Oil wherein the allegations were with respect to misleading health and therapeutic claims on product labels.
• Fine or penaltyAdjudicating Officer/ Additional District Magistrate, ThaneSince 27 Apr 2026

  Received order in the FSSAI matter of Thane with respect Misbranded Fortune Physically Refined Rice Bran Oil.

  Misbranded Fortune Physically Refined Rice Bran Oil wherein the allegations were with respect to misleading health and therapeutic claims on product
• Fine or penaltyAdjudicating Officer/ Additional District Magistrate, ThaneSince 27 Apr 2026

  Received order in the FSSAI matter of Thane with respect Misbranded Fortune Rice Bran Oil.

  Misbranded Fortune Rice Bran Oil wherein the allegations were with respect to misleading advertisement claims relating to cholesterol reduction and heart health benefits.

In the company's own words, from its latest governance filing.

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.