Bajaj Hindusthan Sugar MD, chairman, board of directors and AGM
NSE: BAJAJHINDBSE: 500032Agricultural Food & other ProductsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹18.97.
- 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.
- ₹4,320 Cr964th 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 13 Aug 2026
- 37.3
- 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 −₹14 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 33.3
- 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 14 Jul 2026
- 1.1
- 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. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 13 Aug 2026
- 2.9%
- ROE without one-offsReturn on equity without one-off items. 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), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹14 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 3.2%
- 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. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 13 Aug 2026
- 0.7%
- 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. The filing of 14 Jul 2026
- 0.93
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,41,35,53633.9% delivered
Bajaj Hindusthan Sugar 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
- ChairpersonKushagra BajajRelated to the promoter
- Managing directorAjay Kumar Sharma
- Company Secretary and Compliance OfficerMr. Kausik Adhikari
10 directors5 independent1 executive4 non-executive
- Kushagra Bajaj · ChairpersonNon-executive · joined Jul 2007 · 2 listed boards · 2 committee seats
- Ajay Kumar Sharma · Managing directorExecutive · joined May 2022 · 1 listed board · 1 committee seat
- Atul Hasmukhrai Mehta · Shareholder DirectorIndependent · joined Jan 2020 · reappointed Jan 2025 · 81 months as independent · 1 listed board · 1 as independent
- Vinod C. Sampat · Shareholder DirectorIndependent · joined Jan 2021 · reappointed Jan 2026 · 69 months as independent · 1 listed board · 1 as independent
- Shyam Sunder Jangid · Shareholder DirectorIndependent · joined Mar 2024 · 30 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Nand Lal Kalra · Shareholder DirectorIndependent · joined Aug 2026 · 1 month as independent · 1 listed board · 1 as independent · 2 committee seats
- Priyanka Baya · Shareholder DirectorIndependent · joined Sep 2026 · 1 month as independent · 1 listed board · 1 as independent
- Anil RishirajNon-executive · joined May 2026 · 1 listed board
- Satish Kumar NagpalNominee, non-executive · joined Jul 2025 · 1 listed board
- Sanoj Kumar PotdarNominee, non-executive · joined Aug 2026 · 1 listed board
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.
2 directors who left
- Shalu Bhandari, left 16 Sep 2026: Tenure Completion
- Ramani Ranjan Mishra, left 13 May 2026: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 16 Sep 20269 of 10 present5 independent · 33 days in between
- 13 Aug 20267 of 8 present4 independent · 14 days in between
- 29 Jul 20267 of 8 present4 independent · 60 days in between
- 29 May 20266 of 7 present4 independent
Audit Committee
Chair Shyam Sunder Jangid
Nand Lal Kalra, Ajay Kumar Sharma
- 13 Aug 20263 of 3 present2 independent · 75 days in between
- 29 May 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Atul Hasmukhrai Mehta
Shyam Sunder Jangid, Anil Rishiraj
- 16 Sep 20263 of 3 present3 independent · 48 days in between
- 29 Jul 20263 of 3 present3 independent
- 29 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair Shyam Sunder Jangid
Kushagra Bajaj, Nand Lal Kalra
- 1 Apr 20263 of 3 present2 independent
Risk Management Committee
Chair Kushagra Bajaj
Vinod C. Sampat, Ajay Kumar Sharma, Kausik Adhikari, Sunil Kumar Ojha
- 29 May 20262 of 3 present1 independent · 57 days in between
Corporate Social Responsibility Committee
Chair Kushagra Bajaj
Priyanka Baya, Ajay Kumar Sharma
No meeting listed in the filing.
Independent Directors Committee
Chair Atul Hasmukhrai Mehta
Vinod C. Sampat, Shyam Sunder Jangid, Nand Lal Kalra, Priyanka Baya, Shalu Bhandari
- 13 Aug 20264 of 4 present4 independent · 75 days in between
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.
- Sidharth N Jain & CompanyPeer-review certificate valid to Jul 2027
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.
Bajaj Hindusthan Sugar 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.Bajaj Hindusthan Sugar dividend history
Annual general meeting, 27 Aug 2026
7,69,725 shareholders on the register on 20 Aug 2026; present: 13 promoters and 68 others; votes counted by Mr. Ranjeet Kumar Sharma / M/s Ranjeetkumar Sharma & Associates.The company's voting result (opens in a new tab)
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2026 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.00% · other public 3.24%
Turnout: all 21.40% · promoters 100.00% · institutions 15.20% · other public 0.44%
- Re-appointment of Mr. Ajay Kumar Sharma (DIN: 09607745), as Managing Director, who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.75% for0.25% against
Against: promoters 0.00% · institutions 0.25% · other public 22.15%
Turnout: all 21.41% · promoters 100.00% · institutions 15.21% · other public 0.44%
- Ratification of the remuneration payable to cost auditors for the financial year 2026-2027.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 3.36%
Turnout: all 21.41% · promoters 100.00% · institutions 15.21% · other public 0.44%
- Appointment of Dr. Anil Rishiraj (DIN: 02853310), as Director (Category: Non-Executive, Non-Independent Director) of the Company with effect from May 29, 2026, liable to retire by rotation.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 3.41%
Turnout: all 21.41% · promoters 100.00% · institutions 15.21% · other public 0.44%
- Appointment of Mr. Nand Lal Kalra (DIN: 05268554), as an Independent Director of the Company for a term of five consecutive years commencing from August 28, 2026 up to August 27, 2031.Special99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 3.37%
Turnout: all 21.41% · promoters 100.00% · institutions 15.21% · other public 0.44%
Appointment of Mr. Sanoj Kumar Potdar (DIN: 11760195), Deputy General Manager of Punjab National Bank, as Director (Category: Non-Executive, Nominee Director) with effect from August 28, 2026, liable to retire by rotation.MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.00% · other public 3.49%
Turnout: all 21.41% · promoters 100.00% · institutions 15.21% · other public 0.44%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 10 Mar 2026, 3 resolutions
7,86,850 shareholders on the register on 2 Mar 2026; present: 13 promoters and 58 others; votes counted by Mr. Ranjeet Kumar Sharma / M/s Ranjeetkumar Sharma & Associates.The company's voting result (opens in a new tab)
- Increase in the Authorised Share Capital and alteration of the capital clause of the Memorandum of Association of the CompanyOrdinary98.83% for1.17% against
Against: promoters 0.00% · institutions 7.55% · other public 4.10%
Turnout: all 29.66% · promoters 100.00% · institutions 45.71% · other public 0.37%
- Issue of equity shares on a preferential basis on conversion of loan [part of Yield to Maturity (“YTM”) amount on Optionally Convertible Debentures (“OCDs”)] to the lendersSpecial98.82% for1.18% against
Against: promoters 0.00% · institutions 7.64% · other public 4.11%
Turnout: all 29.66% · promoters 100.00% · institutions 45.71% · other public 0.37%
Issue of Series A 0.01% Compulsorily Convertible Preference Shares (“CCPS”) on Preferential Basis upon conversion of loan [part of Yield to Maturity (“YTM”) amount on Optionally Convertible Debentures (“OCDs”) and Right of Recompense on earlier restructuring] to the LendersMoreLess
Special98.82% for1.18% againstAgainst: promoters 0.00% · institutions 7.64% · other public 4.10%
Turnout: all 29.66% · promoters 100.00% · institutions 45.71% · other public 0.37%
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, 11 Sep 2025, 6 resolutions
8,01,512 shareholders on the register on 4 Sep 2025; present: 13 promoters and 64 others; votes counted by Mr. Ranjeet Kumar Sharma / M/s Ranjeetkumar Sharma & Associates.The company's voting result (opens in a new tab)
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2025 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Ordinary85.50% for14.50% againstAgainst: promoters 0.00% · institutions 65.90% · other public 10.19%
Turnout: all 32.26% · promoters 100.00% · institutions 70.72% · other public 0.38%
- To appoint a director in place of Mr. Kushagra Bajaj (DIN: 00017575), Chairman, who retires by rotation and being eligible, offers himself for re-appointment.Ordinary85.50% for14.50% against
Against: promoters 0.00% · institutions 65.93% · other public 7.45%
Turnout: all 32.27% · promoters 100.00% · institutions 70.80% · other public 0.38%
Appointment of M/s Anant B. Khamankar & Co., Practicing Company Secretary (C.P. No. 1860 & Peer Review Certificate No. 1283/2021) as Secretarial Auditor of the Company for a term of five consecutive years commencing from April 01, 2025 and ending on March 31, 2030 and fix their remuneration.MoreLess
Ordinary99.93% for0.07% againstAgainst: promoters 0.00% · institutions 0.00% · other public 9.64%
Turnout: all 32.27% · promoters 100.00% · institutions 70.80% · other public 0.38%
Re-appointment of Mr. Vinod C. Sampat (DIN:09024617), as an Independent, Non-executive Director of the Company to hold office for the second term of 5 (five) consecutive years with effect from January 21, 2026 to January 20, 2031.MoreLess
Special99.92% for0.08% againstAgainst: promoters 0.00% · institutions 0.00% · other public 10.31%
Turnout: all 32.27% · promoters 100.00% · institutions 70.80% · other public 0.38%
- Ratification of the remuneration payable to cost auditors for the financial year 2025-26.Ordinary99.93% for0.07% against
Against: promoters 0.00% · institutions 0.00% · other public 9.77%
Turnout: all 32.27% · promoters 100.00% · institutions 70.80% · other public 0.38%
Appointment of Mr. Satish Kumar Nagpal (DIN: 09045584), Ex-CGM, State Bank of India, as Director (Category: Non-Executive, Nominee Director) of the Company with effect from July 18, 2025, not liable to retire by rotation.MoreLess
Ordinary99.94% for0.06% againstAgainst: promoters 0.00% · institutions 0.00% · other public 7.28%
Turnout: all 32.27% · promoters 100.00% · institutions 70.80% · other public 0.38%
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, 18 Dec 2024, 2 resolutions
The company's voting result (opens in a new tab)
Re-appointment of Mr. Atul Hasmukhrai Mehta (DIN 00112451) as an Independent Director of the Company not liable to retire by rotation and to hold office for the second term of 5 (five) consecutive years with effect from January 01, 2025 to December 31, 2029MoreLess
Special99.61% for0.39% againstAgainst: promoters 0.00% · institutions 1.19% · other public 1.48%
Turnout: all 36.20% · promoters 100.00% · institutions 72.45% · other public 4.43%
Payment of minimum remuneration to Mr. Ajay Kumar Sharma (DIN:09607745), Managing Director as Overall and Minimum Remuneration during the period from May 20, 2025 to May 19, 2027 (upto the date of remaining tenure of the present term)MoreLess
Special99.35% for0.65% againstAgainst: promoters 0.00% · institutions 2.19% · other public 1.83%
Turnout: all 36.20% · promoters 100.00% · institutions 72.45% · other public 4.43%
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 Jun 2024, 4 resolutions
Present: 13 promoters and 61 others.The company's voting result (opens in a new tab)
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2024 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Ordinary87.58% for12.42% againstAgainst: promoters 0.00% · institutions 51.02% · other public 0.04%
Turnout: all 36.68% · promoters 100.00% · institutions 80.56% · other public 4.38%
- To appoint a director in place of Mr. Ajay Kumar Sharma (DIN: 09607745), Managing Director, who retires by rotation and being eligible, offers himself for re-appointment.Ordinary98.92% for1.08% against
Against: promoters 0.00% · institutions 4.40% · other public 0.08%
Turnout: all 36.70% · promoters 100.00% · institutions 80.77% · other public 4.37%
- Appointment of Mr. Shyam Sunder Jangid (DIN: 01186353) as an Independent Director of the Company to hold office upto March 29, 2029.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 36.70% · promoters 100.00% · institutions 80.77% · other public 4.38%
- Ratification of the remuneration payable to cost auditors for the year 2024-25.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 36.70% · promoters 100.00% · institutions 80.77% · other public 4.37%
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, 4 Jul 2023, 3 resolutions
Present: 13 promoters and 66 others.The company's voting result (opens in a new tab)
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2023 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Ordinary96.33% for3.67% againstAgainst: promoters 0.00% · institutions 37.00% · other public 0.05%
Turnout: all 30.70% · promoters 100.00% · institutions 18.01% · other public 4.65%
- Re-appointment of Mr. Ramani Ranjan Mishra (DIN: 09389302), Nominee Director, who retires by rotation and being eligible offers himself for re-appointment.Ordinary97.04% for2.96% against
Against: promoters 0.00% · institutions 15.63% · other public 0.93%
Turnout: all 33.94% · promoters 100.00% · institutions 37.19% · other public 4.65%
- Ratification of the remuneration payable to Cost Auditors for the year 2023-24.Ordinary99.93% for0.07% against
Against: promoters 0.00% · institutions 0.00% · other public 0.90%
Turnout: all 33.94% · promoters 100.00% · institutions 37.19% · other public 4.65%
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 2022, 6 resolutions
Present: 13 promoters and 81 others.The company's voting result (opens in a new tab)
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2022 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Ordinary97.49% for2.51% againstAgainst: promoters 0.00% · institutions 98.08% · other public 0.53%
Turnout: all 28.53% · promoters 100.00% · institutions 4.18% · other public 4.94%
- Re-appointment of Mr. Kushagra Bajaj, Chairman (DIN: 00017575) as Director, who retires by rotation and being eligible offers himself for re-appointment.nnOrdinary97.00% for3.00% against
Against: promoters 0.00% · institutions 100.00% · other public 4.06%
Turnout: all 28.53% · promoters 100.00% · institutions 4.33% · other public 4.90%
Appointment of M/s. Sidharth N Jain & Company, Chartered Accountants (Firm Registration No. 018311C) as Statutory Auditors of the Company to hold office from the conclusion of this 90th Annual General Meeting until the conclusion of the 95th Annual General Meeting of the Company and fix their remunerationMoreLess
Ordinary99.94% for0.06% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.60%
Turnout: all 28.53% · promoters 100.00% · institutions 4.33% · other public 4.90%
- Appointment of Mr. Ramani Ranjan Mishra (DIN: 09389302) as Nominee Director of the Company, liable to retire by rotation.Ordinary97.39% for2.61% against
Against: promoters 0.00% · institutions 97.04% · other public 0.87%
Turnout: all 28.53% · promoters 100.00% · institutions 4.33% · other public 4.90%
Appointment of Mr. Ajay Kumar Sharma (DIN: 09607745) as Managing Director of the Company for a period of 5 (five) years with effect from May 20, 2022 up to May 19, 2027, liable to retire by rotation and fixing remuneration.MoreLess
Special98.63% for1.37% againstAgainst: promoters 0.00% · institutions 38.16% · other public 3.84%
Turnout: all 28.53% · promoters 100.00% · institutions 4.33% · other public 4.89%
- Ratification of the remuneration payable to Cost Auditors for the year 2022-23.Ordinary99.94% for0.06% against
Against: promoters 0.00% · institutions 0.00% · other public 0.57%
Turnout: all 28.53% · promoters 100.00% · institutions 4.33% · other public 4.90%
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, 1 May 2022, 1 resolution
The company's voting result (opens in a new tab)
Ordinary Resolution in respect of appointment of M/s. Sidharth N Jain & Company, Chartered Accountants (Firm Registration No. 018311C) as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s. R.S. Dani & Co., Chartered Accountants (Firm Registration No.000243C)MoreLess
Ordinary99.92% for0.08% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.75%
Turnout: all 28.52% · promoters 100.00% · institutions 2.52% · other public 5.73%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 10 Mar 2026, 1 fund house
- Increase in the Authorised Share Capital and alteration of the capital clause of the Memorandum of Association of the Company1 for0 against
- Issue of equity shares on a preferential basis on conversion of loan [part of Yield to Maturity (“YTM”) amount on Optionally Convertible Debentures (“OCDs”)] to the lenders1 for0 against
Issue of Series A 0.01% Compulsorily Convertible Preference Shares (“CCPS”) on Preferential Basis upon conversion of loan [part of Yield to Maturity (“YTM”) amount on Optionally Convertible Debentures (“OCDs”) and Right of Recompense on earlier restructuring] to the LendersMoreLess
1 for0 against
Mutual fund votes, meeting of 11 Sep 2025, 5 fund houses
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2025 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundQualified financial Statements; Serious governance issues identified.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAudit qualifications on Standalone and Consolidated Financial Statements: Yield to Maturity (YTM) treated as contingent liability and no provision made when the same appears to be a certain obligation. If YTM would have been provided for, the net loss for FY 2024-25 would have been ? 695.22 crores instead of net profit of ? 4.38 crores and the net worth would have been ? 775.86 crores instead of ? 4,360.87 crores. There would be similar impact on consolidated financials as well. The Company has defaulted on OCD obligations and subsequently, submitted a resolution plan. Principal liability on OCDs classified as Non-Current instead of Current, despite default, based on expectation of restructuring. These actions overstate the solvency position significantly. The Company’s response on Going Concern questions by the auditors are generic without a concrete roadmap. Further, the auditors of subsidiary companies have highlighted material uncertainty relating to their ability to continue as going concern. Management of 2 of such subsidiaries have cited support from the Company to facilitate going concern ability of such subsidiaries. The same raises governance concerns when the Company’s going concern ability is itself at question. The Company has granted significant amount of loans to one of these subsidiaries. Additionally, an interest income of ?112.43 crores on loans and advances given to subsidiary is deferred without adequate reasoning. Clarification should be given on full disclosure of debt resolution terms, cane arrears, and liquidity position; a clear roadmap for performance improvement with measurable milestones and how the Company plans to continue to support its subsidiaries when the Company’s financials are itself impacted?
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
0 for5 against- To appoint a director in place of Mr. Kushagra Bajaj (DIN: 00017575), Chairman, who retires by rotation and being eligible, offers himself for re-appointment.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: Low attendance at Board and Committee meetings and AGM; no justification for leave of absence. Material governance issues identified in the Company.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No issue identified on merit of appointee. Governance Concern: Low attendance at Board and Committee meetings and AGM; no justification for leave of absence. Material governance issues identified in the Company.
1 for4 against Appointment of M/s Anant B. Khamankar & Co., Practicing Company Secretary (C.P. No. 1860 & Peer Review Certificate No. 1283/2021) as Secretarial Auditor of the Company for a term of five consecutive years commencing from April 01, 2025 and ending on March 31, 2030 and fix their remuneration.MoreLess
5 for0 againstRe-appointment of Mr. Vinod C. Sampat (DIN:09024617), as an Independent, Non-executive Director of the Company to hold office for the second term of 5 (five) consecutive years with effect from January 21, 2026 to January 20, 2031.MoreLess
5 for0 against- Ratification of the remuneration payable to cost auditors for the financial year 2025-26.5 for0 against
Appointment of Mr. Satish Kumar Nagpal (DIN: 09045584), Ex-CGM, State Bank of India, as Director (Category: Non-Executive, Nominee Director) of the Company with effect from July 18, 2025, not liable to retire by rotation.MoreLess
5 for0 against
2 earlier meetings
Mutual fund votes, meeting of 18 Dec 2024, 4 fund houses
Re-appointment of Mr. Atul Hasmukhrai Mehta (DIN 00112451) as an Independent Director of the Company not liable to retire by rotation and to hold office for the second term of 5 (five) consecutive years with effect from January 01, 2025 to December 31, 2029MoreLess
4 for0 againstPayment of minimum remuneration to Mr. Ajay Kumar Sharma (DIN:09607745), Managing Director as Overall and Minimum Remuneration during the period from May 20, 2025 to May 19, 2027 (upto the date of remaining tenure of the present term)MoreLess
4 for0 against
Mutual fund votes, meeting of 27 Jun 2024, 2 fund houses
Adoption of Standalone and Consolidated Financial Statements of the Company for the financial year ended as at March 31, 2024 and the Reports of the Board of Directors and the Auditors thereon for the said year.MoreLess
Against Groww Mutual Fund, Motilal Oswal Mutual Fund
- Groww Mutual FundWe are not satisfied with the management's reply to the statutory auditor relating to qualified opinion in the Independent Auditor's Report. As per conservative accounting principles, the management should have accounted for interest on OCDs at YTM. Hence, we vote against the resolution.
- Motilal Oswal Mutual FundAuditors have made qualifications on Standalone and Consolidated Financial Statements.
0 for2 against- To appoint a director in place of Mr. Ajay Kumar Sharma (DIN: 09607745), Managing Director, who retires by rotation and being eligible, offers himself for re-appointment.2 for0 against
- Appointment of Mr. Shyam Sunder Jangid (DIN: 01186353) as an Independent Director of the Company to hold office upto March 29, 2029.2 for0 against
- Ratification of the remuneration payable to cost auditors for the year 2024-25.2 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- 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
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesApr 2026 | 53.13 | Object as per the General Meeting Notice: The object of the issue is to comply with the Resolution Plan for restructuring of loans of the Lenders in accordance with RBI Prudential Framework. In accordance with the Resolution Plan, the Company proposes to issue and allot equity shares of the Company to the Lenders by converting the part of YTM owed by the Company, so that the total shareholding of the Lenders will not exceed 50% of the paid-up capital post conversion. | 8.56 | 8.56 | No |
| Preferential IssuesApr 2026 | 53.13 | Object as per the General Meeting Notice: The object of the issue is to comply with the Resolution Plan for restructuring of loans from the Lenders in accordance with RBI Prudential Framework. In accordance with the Resolution plan, the Company proposes to issue and allot Compulsorily Convertible Preference Shares of the Company to the Lenders by converting the outstanding loans (part of YTM and RoR). | 44.57 | 44.57 | No |