Birla Corporation logo

Birla Corporation CEO, MD, chairman, board of directors and AGM

NSE: BIRLACORPNBSE: 500335Cement & Cement ProductsSmall Cap

Formerly Birla Corp
Last close ₹777.80down ₹6.60 (0.84%)BSE ₹777.85

Share price at the NSE close on 23 Oct 2026. Previous close ₹784.40.

52-week range of traded prices to 23 Oct 2026
₹758.20Low, 23 Oct 2026₹1,244.30High, 7 Nov 2025
Market cap
₹5,989 Cr643rd largest listed
P/E
10.8
P/B
0.8
Dividend yield
1.61%
ROE
7.7%
ROCE
8.5%
Debt to equity
0.44
Volume, NSE
68,54348.9% delivered

Birla Corporation 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

  • ChairpersonHARSH VARDHAN LODHARelated to the promoter
  • Managing director and CEOSANDIP GHOSE
  • Company Secretary and Compliance OfficerManoj Kumar Mehta

6 directors4 independent1 executive1 non-executive

  • HARSH VARDHAN LODHA · ChairpersonNon-executive · joined Apr 1996 · 5 listed boards · 1 committee seat, 1 as chair
  • ANUP SINGHIndependent · joined Mar 2024 · reappointed Mar 2024 · 30 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • CHITKALA ZUTSHIIndependent · joined Mar 2024 · reappointed Mar 2024 · 30 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
  • RAJNI SEKHRI SIBALIndependent · joined Mar 2024 · reappointed Mar 2024 · 30 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 2 as chair
  • RAJEEV MALHOTRAIndependent · joined Mar 2024 · reappointed Mar 2024 · 30 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • SANDIP GHOSE · Managing director and CEOExecutive · joined Dec 2022 · reappointed Jan 2026 · 1 listed board · 2 committee seats

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
  • DILIP GANESH KARNIK, left 9 May 2025: Others
  • SHAILAJA CHANDRA, left 5 Feb 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 25 Jul 20266 of 6 present4 independent · 76 days in between
    • 9 May 20266 of 6 present4 independent · 25 days in between
    • 13 Apr 20266 of 6 present4 independent

  • Audit Committee

    Chair ANUP SINGH

    CHITKALA ZUTSHI, RAJEEV MALHOTRA, SANDIP GHOSE

    • 24 Jul 20264 of 4 present3 independent · 76 days in between
    • 8 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair ANUP SINGH

    HARSH VARDHAN LODHA, CHITKALA ZUTSHI, RAJNI SEKHRI SIBAL

    • 8 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair HARSH VARDHAN LODHA

    ANUP SINGH, SANDIP GHOSE

    • 25 Jul 20263 of 3 present1 independent · 76 days in between
    • 9 May 20263 of 3 present1 independent · no day in between

  • Risk Management Committee

    Chair CHITKALA ZUTSHI

    RAJEEV MALHOTRA, SANDIP GHOSE, ADITYA SARAOGI

    • 24 Jul 20264 of 4 present2 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.

  • V. SANKAR AIYAR & CO.Peer-review certificate valid to Apr 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Birla Corporation 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.Birla Corporation dividend history

Annual general meeting, 1 Aug 2026

90,103 shareholders on the register on 25 Jul 2026; present: 19 promoters and 869 others; votes counted by ANIL KUMAR MURARKA / A MURARKA & COMPANY.The company's voting result (opens in a new tab)

  1. Adoption of: (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of the Board of the Directors and Auditors thereon; and (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Report of the Auditors thereon.MoreLess
    Ordinary
    98.77% for1.23% against

    Against: promoters 0.00% · institutions 0.00% · other public 53.96%

    Turnout: all 83.59% · promoters 99.47% · institutions 83.43% · other public 13.41%

  2. Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2026.
    Ordinary
    98.77% for1.23% against

    Against: promoters 0.00% · institutions 0.00% · other public 53.95%

    Turnout: all 83.64% · promoters 99.47% · institutions 83.67% · other public 13.41%

  3. Re-appointment of Shri Harsh V. Lodha (DIN: 00394094), Director of the Company, who retires by rotation.
    Ordinary
    79.17% for20.83% against

    Against: promoters 25.98% · institutions 0.73% · other public 53.96%

    Turnout: all 83.64% · promoters 99.47% · institutions 83.67% · other public 13.41%

  4. Ratification of Remuneration of the Cost Auditors of the Company for the financial year 2026-27.
    Ordinary
    98.77% for1.23% against

    Against: promoters 0.00% · institutions 0.00% · other public 53.97%

    Turnout: all 83.64% · promoters 99.47% · institutions 83.67% · other public 13.41%

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, 22 Dec 2025, 1 resolution

1,24,259 shareholders on the register on 15 Dec 2025; present: 18 promoters and 459 others; votes counted by ANIL KUMAR MURARKA / A MURARKA & COMPANY.The company's voting result (opens in a new tab)

  1. Item No. 5 of original Notice of Annual General Meeting dated 9th May, 2025: Adoption of new set of Articles of Association of the Company
    Special
    78.92% for21.08% against

    Against: promoters 26.38% · institutions 0.96% · other public 28.52%

    Turnout: all 83.52% · promoters 100.00% · institutions 80.85% · other public 19.43%

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, 15 Sep 2025, 6 resolutions

1,25,342 shareholders on the register on 8 Sep 2025; present: 17 promoters and 810 others; votes counted by ANIL KUMAR MURARKA / A MURARKA & COMPANY.The company's voting result (opens in a new tab)

  1. Adoption of: (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025 together with the Reports of the Board of the Directors and Auditors thereon; and (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 together with the Report of the Auditors thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.07% · other public 0.02%

    Turnout: all 83.00% · promoters 100.00% · institutions 79.13% · other public 14.78%

  2. Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.04% · promoters 100.00% · institutions 79.33% · other public 14.78%

  3. Re-appointment of Shri Sandip Ghose (DIN: 08526143), Director of the Company, who retires by rotation.
    Ordinary
    98.25% for1.75% against

    Against: promoters 0.00% · institutions 6.46% · other public 0.04%

    Turnout: all 66.45% · promoters 73.62% · institutions 79.33% · other public 14.78%

  4. Re-appointment of Shri Sandip Ghose (DIN: 08526143), as Managing Director and Chief Executive Officer of the Company.
    Ordinary
    98.46% for1.54% against

    Against: promoters 0.00% · institutions 5.66% · other public 0.04%

    Turnout: all 66.45% · promoters 73.62% · institutions 79.33% · other public 14.78%

  5. Appointment of Secretarial Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 83.04% · promoters 100.00% · institutions 79.33% · other public 14.78%

  6. Ratification of Remuneration of the Cost Auditors of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 83.04% · promoters 100.00% · institutions 79.33% · other public 14.78%

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, 5 Aug 2024, 4 resolutions

Present: 18 promoters and 861 others.The company's voting result (opens in a new tab)

  1. Adoption of: (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Reports of the Board of the Directors and Auditors thereon; and (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 82.73% · promoters 100.00% · institutions 79.13% · other public 14.02%

  2. Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.75% · promoters 100.00% · institutions 79.24% · other public 14.02%

  3. Re-appointment of Shri Harsh V. Lodha (DIN: 00394094), Director of the Company, who retires by rotation.
    Ordinary
    78.70% for21.30% against

    Against: promoters 26.38% · institutions 5.10% · other public 6.27%

    Turnout: all 82.75% · promoters 100.00% · institutions 79.24% · other public 14.02%

  4. Ratification of Remuneration of the Cost Auditors of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 82.75% · promoters 100.00% · institutions 79.24% · other public 14.02%

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)

  1. To appoint Shri Anup Singh (DIN: 00044804) as a Non-Executive Independent Director of the Company , not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    Special
    79.30% for20.70% against

    Against: promoters 26.38% · institutions 1.57% · other public 18.78%

    Turnout: all 86.23% · promoters 100.00% · institutions 80.34% · other public 35.74%

  2. To appoint Smt. Chitkala Zutshi (DIN: 07684586) as a Non-Executive Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    Special
    79.30% for20.70% against

    Against: promoters 26.38% · institutions 1.57% · other public 18.78%

    Turnout: all 86.23% · promoters 100.00% · institutions 80.34% · other public 35.74%

  3. To appoint Smt. Rajni Sekhri Sibal (DIN: 09176377) as a Non-Executive Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    Special
    79.61% for20.39% against

    Against: promoters 26.38% · institutions 0.09% · other public 18.79%

    Turnout: all 86.23% · promoters 100.00% · institutions 80.34% · other public 35.74%

  4. To appoint Dr. Rajeev Malhotra (DIN: 09824055) as a Non -Executive Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    Special
    79.61% for20.39% against

    Against: promoters 26.38% · institutions 0.09% · other public 18.78%

    Turnout: all 86.23% · promoters 100.00% · institutions 80.34% · other public 35.74%

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, 5 Sep 2023, 1 resolution

88,478 shareholders on the register on 29 Aug 2023; present: 26 promoters and 896 others; votes counted by ANIL KUMAR MURARKA / A MURARKA & CO..The company's voting result (opens in a new tab)

  1. Appointment of Mr. Sudeep Roy (DIN: 02753781)as a Non-Executive Non-Independent Director of the Company pursuant to Notice received from a member under Section 160 of the Companies Act, 2013
    SpecialNot passed
    34.79% for65.21% against

    Against: promoters 66.14% · institutions 60.28% · other public 74.91%

    Turnout: all 71.17% · promoters 77.92% · institutions 78.27% · other public 30.18%

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, 14 Jan 2023, 3 resolutions

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

  1. To appoint Shri Sandip Ghose (DIN: 08526143) as a Director of the Company w.e.f. 1st December, 2022
    Ordinary
    99.33% for0.67% against

    Against: promoters 0.00% · institutions 1.94% · other public 0.09%

    Turnout: all 50.90% · promoters 51.54% · institutions 87.87% · other public 5.43%

  2. To appoint Shri Sandip Ghose (DIN: 08526143) as Whole Time Director of the Company for the period from 1st December, 2022 to 31st December, 2022
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.17% · other public 0.11%

    Turnout: all 50.90% · promoters 51.54% · institutions 87.87% · other public 5.43%

  3. To appoint Shri Sandip Ghose (DIN: 08526143) as Managing Director & Chief Executive Officer of the Company for a period of 3 (Three) years w.e.f. 1st January, 2023
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.17% · other public 0.10%

    Turnout: all 50.90% · promoters 51.54% · institutions 87.87% · other public 5.43%

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 Sep 2022, 5 resolutions

Present: 26 promoters and 879 others.The company's voting result (opens in a new tab)

  1. a) the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2022 together with the Reports of the Board of Directors and Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2022 together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 67.78% · promoters 77.92% · institutions 83.60% · other public 11.26%

  2. Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2022.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.82% · promoters 77.92% · institutions 83.80% · other public 11.26%

  3. Re-appointment of Shri Harsh V. Lodha (DIN: 00394094), Director of the Company, who retires by rotation.
    Ordinary
    71.72% for28.28% against

    Against: promoters 33.86% · institutions 10.44% · other public 38.58%

    Turnout: all 68.67% · promoters 77.92% · institutions 83.80% · other public 16.27%

  4. Appointment of Statutory Auditors of the Company and fixation of their Remuneration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 67.82% · promoters 77.92% · institutions 83.80% · other public 11.26%

  5. Ratification of Remuneration of the Cost Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 67.82% · promoters 77.92% · institutions 83.80% · other public 11.26%

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 1 Aug 2026, 6 fund houses so far (houses' deadline to file 15 Oct 2026)

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

  • Adoption of: (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of the Board of the Directors and Auditors thereon; and (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Report of the Auditors thereon.MoreLess
    6 for0 against
  • Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2026.
    4 for0 against
  • Re-appointment of Shri Harsh V. Lodha (DIN: 00394094), Director of the Company, who retires by rotation.
    6 for0 against
  • Ratification of Remuneration of the Cost Auditors of the Company for the financial year 2026-27.
    6 for0 against
1 proposal not matched to one resolution
  • Declare a dividend of Rs. 12.5 per share (face value of Rs 10.0 per share) for FY26
    2 for0 against

Mutual fund votes, meeting of 22 Dec 2025, 14 fund houses

  • Item No. 5 of original Notice of Annual General Meeting dated 9th May, 2025: Adoption of new set of Articles of Association of the Company
    Against Angel One Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Provision to combine the position of Chairperson & Executive Director / Managing Director; Provision to appoint Alternate Directors included in the proposed Articles of Association.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Provision to combine the position of Chairperson & ED / MD; Provision to appoint Alternate Directors included in the proposed AoA.
    • LIC Mutual FundGovernance Concern: Provision to combine the position of Chairperson & ED / MD; Provision to appoint Alternate Directors included in the proposed AoA.
    10 for4 against
6 earlier meetings

Mutual fund votes, meeting of 15 Sep 2025, 13 fund houses

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

  • Adoption of: (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025 together with the Reports of the Board of the Directors and Auditors thereon; and (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 together with the Report of the Auditors thereon.MoreLess
    12 for0 against
  • Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2025.
    11 for0 against
  • Re-appointment of Shri Sandip Ghose (DIN: 08526143), Director of the Company, who retires by rotation.
    10 for0 against
  • Re-appointment of Shri Sandip Ghose (DIN: 08526143), as Managing Director and Chief Executive Officer of the Company.
    5 for0 against
  • Appointment of Secretarial Auditors of the Company.
    13 for0 against
  • Ratification of Remuneration of the Cost Auditors of the Company
    11 for0 against
10 proposals not matched to one resolution
  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Adopt New Set of Articles of Association
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this resolution is warranted due to lack of information to make an informed voting decision
    0 for1 against
  • Adoption of new set of Articles of Association of the Company.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: AoA allows appointment of alternate director; Clause of holding position of Chairman and Managing Director by the same person.
    • Groww Mutual FundCompliant with law. Transparency Concern: New set of articles not disclosed on website.
    3 for3 against
  • Approve adoption of new set of Articles of Association (AoA) to align it with Companies Act, 2013
    2 for0 against
  • Approve remuneration of Rs. 500,000 for Shome & Banerjee, Cost Accountants, as cost auditors for FY26
    2 for0 against
  • Declare a dividend of Rs. 10.0 per share (face value of Rs 10.0 per share) for FY25
    2 for0 against
  • Re-appointment of Shri Sandip Ghose (DIN: 08526143) as the Managing Director and Chief Executive Officer of the Company for a further period of 3 (three) years with effect from 1st January, 2026, upon expiry of his present term, liable to retire by rotation and including remuneration.MoreLess
    6 for0 against
  • Reappoint Sandip Ghose (DIN: 08526143) as Director, liable to retire by rotation
    2 for0 against
  • Reappoint Sandip Ghose (DIN: 08526143) as Managing Director and CEO for three years from 1 January 2026 and fix his remuneration
    2 for0 against
  • Reelect Sandip Ghose as Director
    1 for0 against

Mutual fund votes, meeting of 5 Aug 2024, 18 fund houses

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

  • Adoption of: (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Reports of the Board of the Directors and Auditors thereon; and (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Report of the Auditors thereon.MoreLess
    18 for0 against
  • Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2024.
    16 for0 against
  • Re-appointment of Shri Harsh V. Lodha (DIN: 00394094), Director of the Company, who retires by rotation.
    18 for0 against
  • Ratification of Remuneration of the Cost Auditors of the Company
    18 for0 against
2 proposals not matched to one resolution
  • 2) Declare a dividend of Rs. 10.0 per share (face value of Rs 10.0 per share) for FY24.
    1 for0 against
  • Declare a dividend of Rs. 10.0 per share (face value of Rs 10.0 per share) for FY24
    1 for0 against

Mutual fund votes, meeting of 17 Mar 2024, 16 fund houses

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

  • To appoint Shri Anup Singh (DIN: 00044804) as a Non-Executive Independent Director of the Company , not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    Against Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with Law. No concern on profile of appointee. Governance Concern: Proposed appointment will lead to Prolonged association with the Company/ Group.
    12 for3 against
  • To appoint Smt. Chitkala Zutshi (DIN: 07684586) as a Non-Executive Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    Against Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with Law. No concern on profile of appointee. Governance Concern: Proposed appointment will lead to Prolonged association with the Company/ Group.
    12 for3 against
  • To appoint Smt. Rajni Sekhri Sibal (DIN: 09176377) as a Non-Executive Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    15 for0 against
  • To appoint Dr. Rajeev Malhotra (DIN: 09824055) as a Non -Executive Independent Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from the date of declaration of the result of the Postal Ballot.MoreLess
    15 for0 against
1 proposal not matched to one resolution
  • 1. Appointment of Shri Anup Singh (DIN: 00044804) as an Independent Director of the Company. (Special Resolution) 2. Appointment of Smt. Chitkala Zutshi (DIN: 07684586) as an Independent Director of the Company. (Special Resolution) 3. Appointment of Smt. Rajni Sekhri Sibal (DIN: 09176377) as an Independent Director of the Company. (Special Resolution) 4. Appointment of Dr. Rajeev Malhotra (DIN: 09824055) as an Independent Director of the Company. (Special Resolution)MoreLess
    1 for0 against

Mutual fund votes, meeting of 5 Sep 2023, 17 fund houses

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

  • Appointment of Mr. Sudeep Roy (DIN: 02753781)as a Non-Executive Non-Independent Director of the Company pursuant to Notice received from a member under Section 160 of the Companies Act, 2013
    Against Baroda BNP Paribas Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Mahindra Manulife Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Baroda BNP Paribas Mutual FundProposed by Punjab produce and trading company which is not a material shareholder and nor is the candidate so well known in the cement industry. Company NRC committee is against his appointment
    • HDFC Mutual FundThe board has recommended to vote against the proposal and his appointment might disrupt the smooth functioning of the board and decision making.
    • HSBC Mutual FundWe have concerns about insufficient independence on the board.
    • JM Financial Mutual FundWe are going by management recommendation on this proposal.
    • Kotak Mahindra Mutual FundMr. Sudeep Roy, 76, has 4 decades of expertise in administration. He has over 36 years of experience in taxation. The present management of The Punjab Produce and Trading Co. Pvt Ltd who has proposed the candidature of Mr. Sudeep Roy for the office of a Director of the company, is highly hostile towards it. His appointment could be detrimental to the interest of the company and minority shareholders. Hence voting against.
    • Mahindra Manulife Mutual FundWe recognize that the board does not support his appointment because it believes that the on-going dispute between the estate of Late Priyamvada Birla and Harsh Vardhan Lodha will be brought into the boardroom and impact board effectiveness. Further, Mr Roy's background and experience are not cement sector related and his candidature may not add significant value to the business in the present context of ongoing litigation.
    • Motilal Oswal Mutual FundThe appointment of Mr. Sudeep Roy as a Director may be in an apparent conflict of interest with the Company and other stakeholders.
    • Nippon India Mutual FundAppointment may impact the smooth functioning of the company's regular business
    9 for8 against
33 proposals not matched to one resolution
  • 1) a) Adoption of Audited Standalone Financial Statements for the year ended March 31, 2023 and the reports of the Directors and Auditors thereon. B) Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2023 and Auditors report thereon.MoreLess
    1 for0 against
  • 2) Declare a dividend of Rs 2.5 per share (face value of Rs 10.0 per share) for FY23.
    1 for0 against
  • 3) Reappoint Dilip Ganesh Karnik (DIN: 06419513) as Director liable to retire by rotation.
    1 for0 against
  • 4) Approve waiver of excess remuneration of Rs. 8.5 mn paid to Arvind Pathak (DIN: 00585588) as erstwhile MD and CEO for the period 1 April 2022 to 31 December 2022.
    1 for0 against
  • 5) Approve waiver of excess remuneration of Rs. 6.8 mn paid to Sandip Ghose (DIN: 08526143) as MD and CEO for the period 1 December 2022 till 31 March 2023.
    1 for0 against
  • 6) Approve remuneration of Rs. 450,000 for Shome & Banerjee, Cost Accountants, as cost auditors for FY24.
    1 for0 against
  • 7) Approve to charge a fee for delivery of documents and to the members delivered through a particular mode.
    1 for0 against
  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2023
    2 for0 against
  • Approve Charging of Fee for Delivery of Documents
    1 for0 against
  • Approve Dividend
    1 for0 against
  • Approve Remuneration of Cost Auditors
    1 for0 against
  • Approve remuneration of Rs. 450,000 for Shome & Banerjee, Cost Accountants, as cost auditors for FY24
    2 for0 against
  • Approve to charge a fee for delivery of documents and to the members delivered through a particular mode
    2 for0 against
  • Approve waiver of excess remuneration of Rs. 6.8 mn paid to Sandip Ghose (DIN: 08526143) as MD and CEO for the period 1 December 2022 till 31 March 2023
    2 for0 against
  • Approve waiver of excess remuneration of Rs. 8.5 mn paid to Arvind Pathak (DIN: 00585588) as erstwhile MD and CEO for the period 1 April 2022 to 31 December 2022
    2 for0 against
  • Approve Waiver of Recovery of the Excess Remuneration to Arvind Pathak as Managing Director and CEO
    1 for0 against
  • Approve Waiver of Recovery of the Excess Remuneration to Sandip Ghose as Managing Director and CEO
    1 for0 against
  • Declare a dividend of Rs 2.5 per share (face value of Rs 10.0 per share) for FY23
    2 for0 against
  • Ratification of remuneration of Rs. 4,50,000/- plus applicable taxes and reimbursement of actual travelling and out of pocket expenses payable to M/s. Shome & Banerjee, Cost Accountants (Firm Registration No. 000001), Cost Auditors of the Company, for the financial year 2023-24.MoreLess
    12 for0 against
  • Reappoint Dilip Ganesh Karnik (DIN: 06419513) as Non-Executive Non-Independent Director liable to retire by rotation
    2 for0 against
  • Reelect Dilip Ganesh Karnik as Director
    Against HSBC Mutual Fund
    • HSBC Mutual FundWe have concernas about insufficient independence on the board.
    0 for1 against
  • To appoint a Director in place of Shri Dilip Ganesh Karnik (DIN: 06419513), who retires by rotation and being eligible, offers himself for re-appointment.
    13 for0 against
  • To approve deliver the documents provided such request along with the requisite fee has been duly received by the Company.
    1 for0 against
  • To approve, Ratification of Remuneration of Cost Accountants.
    1 for0 against
  • To approve, waive the recovery of the excess remuneration paid/payable to Shri Arvind Pathak (DIN: 00585588) as Managing Director & Chief Executive Officer of the Company.
    1 for0 against
  • To approve waive the recovery of the excess remuneration paid/payable to Shri Sandip Ghose (DIN: 08526143) as Managing Director & Chief Executive Officer of the Company.
    1 for0 against
  • To charge such fees which shall not be more than the amount charged to the Company by the Department of Post or the Service Provider(s) including related handling charges, if any, to deliver the documents in a particular mode, provided such request along with the requisite fee has been duly received by the Company at least one week in advance of the dispatch of the document by the Company.MoreLess
    12 for0 against
  • To declare a dividend of `2.50/- per ordinary share of face value of `10/- each for the financial year ended 31st March, 2023.
    1 for0 against
  • To declare a dividend of Rs. 2.50/- per ordinary share of face value of Rs. 10/- each for the financial year ended 31st March, 2023.
    12 for0 against
  • To receive, consider and adopt: (a) the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2023 together with the Reports of the Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2023 together with the Report of the Auditors thereon.MoreLess
    13 for0 against
  • To waive the recovery of the excess remuneration amounting to Rs. 68,08,902/- payable to Shri Sandip Ghose (DIN: 08526143), the Managing Director & Chief Executive Officer of the Company for the period from 1st December, 2022 till 31st March, 2023, which is in excess of the limits prescribed under Section 197 read with Schedule V of the Act, in view of inadequate profits of the Company for the financial year 2022-23.MoreLess
    12 for0 against
  • To waive the recovery of the excess remuneration amounting to Rs. 84,93,144/- payable to Shri Arvind Pathak (DIN: 00585588), erstwhile Managing Director & Chief Executive Officer of the Company for the period from 1st April, 2022 till 31st December, 2022, which is in excess of the limits prescribed under Section 197 read with Schedule V of the Act, in view of inadequate profits of the Company for the financial year 2022-23.MoreLess
    Against Kotak Mahindra Mutual Fund
    • Kotak Mahindra Mutual FundRemuneration in excess of prescribed limits. The rationale for allowing payment of full remuneration during a year of poor profitability would be unfair to the company and stakeholders. Hence voting against.
    11 for1 against

Mutual fund votes, meeting of 14 Jan 2023, 13 fund houses

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

  • To appoint Shri Sandip Ghose (DIN: 08526143) as a Director of the Company w.e.f. 1st December, 2022
    12 for0 against
  • To appoint Shri Sandip Ghose (DIN: 08526143) as Whole Time Director of the Company for the period from 1st December, 2022 to 31st December, 2022
    12 for0 against
  • To appoint Shri Sandip Ghose (DIN: 08526143) as Managing Director & Chief Executive Officer of the Company for a period of 3 (Three) years w.e.f. 1st January, 2023
    13 for0 against
2 proposals not matched to one resolution
  • To approve the appointment of Shri Sandip Ghose (DIN: 08526143) as a Director of the Company.
    1 for0 against
  • To approve the appointment of Shri Sandip Ghose (DIN: 08526143) as Wholetime Director of the Company.
    1 for0 against

Mutual fund votes, meeting of 27 Sep 2022, 12 fund houses

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

  • a) the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2022 together with the Reports of the Board of Directors and Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2022 together with the Report of the Auditors thereon.MoreLess
    12 for0 against
  • Declaration of Dividend on Ordinary Shares of the Company for the financial year ended 31st March, 2022.
    10 for0 against
  • Re-appointment of Shri Harsh V. Lodha (DIN: 00394094), Director of the Company, who retires by rotation.
    12 for0 against
  • Appointment of Statutory Auditors of the Company and fixation of their Remuneration.
    2 for0 against
  • Ratification of Remuneration of the Cost Auditors of the Company.
    12 for0 against
3 proposals not matched to one resolution
  • Declare a dividend of Rs 10.0 per share (face value of Rs 10.0 er share) for FY22
    2 for0 against
  • Re-appointment of Messrs. V. Sankar Aiyar & Co., Chartered Accountants (Firm Registration No. 109208W) as the Statutory Auditors of the Company for the second term of 5 consecutive years to hold office from the conclusion of this 102nd Annual General Meeting till the conclusion of the 107th Annual General Meeting of the Company to be held in the year 2027 and the Board of Directors of the Company be and is hereby authorised to fix their remuneration.MoreLess
    8 for0 against
  • Reappoint V Sankar Aiyar & Co as statutory auditors for five years from the 2022 AGM and authorize the board to fix their remuneration
    2 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeThe Commissioner of Central Goods and Services Tax & Central Excise, Jamshedpur CommissionerateSince 6 Aug 2018
    The Hon’ble Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata, vide Order No. FO/A/75892/2026-EX[DB] dated 15/07/2026, has allowed the CENVAT credit on Sales Commission, thereby accepting the Company's contentions and submissions. Accordingly, the demand relating to the disallowance of CENVAT credit on Sales Commission has been decided in favour of the Company.MoreLess
    At the filing before: The Commissioner, Central Goods and Services Tax and Central Excise, Bolpur, vide Order-in-Original (OIO) dated 26/06/2019, confirmed the demand of Rs. 282.06 lakh out of the total demand of Rs. 463.29 lakh, along with applicable interest and penalty, on account of disallowance of CENVAT credit availed on Sales Commission for the period from July 2013 to March 2017. Aggrieved by the confirmed demand, the Company filed an appeal before the Hon’ble CESTAT, Kolkata, on 14/10/2019.MoreLess
  • Tax disputeDeputy Commissioner-C, Business Audit Wing VI, Jaipur, RajasthanSince 28 Nov 2024
    The Company had filed an appeal before the Appellate Authority, State Tax, Udaipur. The Appellate Authority, State Tax, Udaipur vide its Order dated 19/05/2026 had confirmed the demand order dated 27/02/2025. The Company had filed a Rectification Application No. ZD080626040810G dated 12/06/2026 before Appellate Authority. The said application was rejected vide order dated 27/08/2026. The Company has filed an appeal before the Goods and Services Tax Appellate Tribunal (GSTAT). The matter is currently pending adjudication before the GSTAT.MoreLess
    At the filing before: The Deputy Commissioner-C of State Tax, Business Audit Wing-VI, Jaipur, Rajasthan had passed the demand order dated 27/02/2025 amounting to Rs. 4.92 crore, alleging wrong reduction of tax liability on account of rate difference credit notes under section 15(3)(b) of RGST/CGST Act, 2017 during the period April 2020 to March 2021.MoreLess

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

At most 2 complaints open, quarter to Mar 2025.
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
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.