Blue Dart Express logo

Blue Dart Express MD, chairman, board of directors and AGM

NSE: BLUEDARTBSE: 526612Transport ServicesSmall Cap

Last close ₹4,215.30down ₹101.60 (2.35%)BSE ₹4,214.35

Share price at the NSE close on 23 Oct 2026. Previous close ₹4,316.90.

52-week range of traded prices to 23 Oct 2026
₹4,170.00Low, 23 Oct 2026₹7,036.00High, 30 Oct 2025
Market cap
₹10,002 Cr492nd largest listed
P/E
34.8
P/E without one-offs
30.2
P/B
5.6
Dividend yield
0.59%
ROE
17.2%
ROE without one-offs
19.8%
ROCE
23.5%
Debt to equity
0.11
Volume, NSE
10,15540.6% delivered

Blue Dart Express 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

  • ChairpersonSebastian Paebens
  • Managing directorBalfour John Manuel
  • Company Secretary and Compliance OfficerMr. Rabindra Purohit

6 directors3 independent1 executive2 non-executive

  • Sebastian Paebens · ChairpersonNon-executive · joined May 2025 · 1 listed board
  • Balfour John Manuel · Managing directorExecutive · joined May 2019 · reappointed May 2022 · 1 listed board · 1 committee seat
  • Subramanian Sivarama RamchandranNon-executive · joined Mar 2019 · 1 listed board · 2 committee seats
  • Vandana AggarwalIndependent · joined Jul 2024 · reappointed Jul 2024 · 26 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Rajat Kumar JainIndependent · joined Sep 2026 · 0 months as independent · 5 listed boards · 5 as independent · 4 committee seats, 1 as chair
  • Avijit MukerjiIndependent · joined Sep 2026 · 0 months as independent · 4 listed boards · 3 as independent · 5 committee seats, 2 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

5 directors who left
  • Kavita Nair, left 25 Sep 2026: Tenure Completion
  • Charles Simon Dobbie, left 25 Sep 2026: Others
  • Florian Ulrich Bumberger, left 10 Jul 2026: Others
  • Prakash Krishnaji Apte, left 13 Apr 2026: Others
  • Michael McMahon, left 9 Feb 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 23 Sep 20268 of 8 present4 independent · 7 days in between
    • 15 Sep 20266 of 6 present2 independent · 7 days in between
    • 7 Sep 20266 of 6 present2 independent · 27 days in between
    • 10 Aug 20266 of 6 present2 independent · 9 days in between
    4 earlier meetings
    • 31 Jul 20265 of 6 present2 independent · 8 days in between
    • 22 Jul 20265 of 6 present2 independent · 73 days in between
    • 9 May 20266 of 6 present2 independent · 25 days in between
    • 13 Apr 20265 of 7 present2 independent

  • Audit Committee

    Chair Avijit Mukerji

    Subramanian Sivarama Ramchandran, Vandana Aggarwal

    • 15 Sep 20263 of 3 present2 independent · 7 days in between
    • 7 Sep 20263 of 3 present2 independent · 27 days in between
    • 10 Aug 20263 of 3 present2 independent · 9 days in between
    • 31 Jul 20263 of 3 present2 independent · 8 days in between
    3 earlier meetings
    • 22 Jul 20263 of 3 present2 independent · 73 days in between
    • 9 May 20263 of 3 present2 independent · 25 days in between
    • 13 Apr 20263 of 4 present2 independent

  • Nomination and remuneration committee

    Chair Vandana Aggarwal

    Sebastian Paebens, Rajat Kumar Jain

    • 15 Sep 20263 of 3 present2 independent · 7 days in between
    • 7 Sep 20263 of 3 present2 independent · 37 days in between
    • 31 Jul 20263 of 3 present2 independent · 23 days in between
    • 7 Jul 20263 of 3 present2 independent
    3 earlier meetings
    • 18 Jun 20263 of 3 present2 independent · 39 days in between
    • 9 May 20263 of 3 present2 independent · 25 days in between
    • 13 Apr 20263 of 4 present2 independent

  • Stakeholders Relationship Committee

    Chair Subramanian Sivarama Ramchandran

    Balfour John Manuel, Avijit Mukerji

    • 8 May 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Rajat Kumar Jain

    Balfour John Manuel, Subramanian Sivarama Ramchandran, Sebastian Paebens, Tushar Gunderia, Savio Mendonca, Sagar Patil

    • 8 May 20264 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair Balfour John Manuel

    Subramanian Sivarama Ramchandran, Rajat Kumar Jain, Avijit Mukerji

    • 8 May 20263 of 3 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • M/s. Deloitte Haskins & Sells LLPPeer-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.

Blue Dart Express 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.Blue Dart Express dividend history

Annual general meeting, 22 Sep 2026

39,058 shareholders on the register on 15 Sep 2026; present: 2 promoters and 50 others; votes counted by Vaibhav Dandawate / Makarand M. Joshi & Co. Company Secretaries.The company's voting result (opens in a new tab)

  1. (a)Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and (b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.95%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

  2. Declaration of Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity share for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.95%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

  3. Re-appointment of Mr. Sebastian Paeßens (DIN: 09058693) as a Director, liable to retire by rotation
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.43% · other public 12.11%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

  4. Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2026 to March 31, 2027
    Ordinary
    98.04% for1.96% against

    Against: promoters 0.00% · institutions 11.59% · other public 17.05%

    Turnout: all 90.21% · promoters 100.00% · institutions 85.87% · other public 0.17%

  5. Approval for payment of commission to Non-Executive Directors for a period of five years with effect from August 01, 2026 to July 31, 2031
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.09%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

  6. Approval for appointment of Mr. Charles Simon Dobbie (DIN: 10302056) as a Director, liable to retire by rotation
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.22% · other public 11.74%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

  7. Approval for appointment of Mr. Rajat Kumar Jain (DIN: 00046053) as an Independent Director, for a period of five (5) consecutive years with effect from September 23, 2026 till September 22, 2031
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.41% · other public 11.55%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

  8. Approval for appointment of Mr. Avijit Mukerji (DIN: 03534116) as an Independent Director, for a period of five (5) consecutive years with effect from September 23, 2026 till September 22, 2031
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 11.82%

    Turnout: all 90.22% · promoters 100.00% · institutions 85.87% · other public 0.21%

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, 13 Aug 2025, 6 resolutions

33,391 shareholders on the register on 6 Aug 2025; present: 1 promoter and 42 others; votes counted by Nilesh Shah / Nilesh Shah & Associates.The company's voting result (opens in a new tab)

  1. (a)Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon; and (b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 47.40%

    Turnout: all 90.15% · promoters 100.00% · institutions 82.36% · other public 0.34%

  2. Declaration of Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity share for the financial year ended March 31, 2025
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 47.95%

    Turnout: all 90.15% · promoters 100.00% · institutions 82.36% · other public 0.34%

  3. Re-appointment of Mr. R.S.Subramanian (DIN 02946608) as a Director, liable to retire by rotation
    Ordinary
    97.90% for2.10% against

    Against: promoters 0.00% · institutions 12.42% · other public 47.47%

    Turnout: all 90.15% · promoters 100.00% · institutions 82.36% · other public 0.34%

  4. Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2025 to March 31, 2026
    Ordinary
    99.13% for0.87% against

    Against: promoters 0.00% · institutions 5.13% · other public 56.13%

    Turnout: all 90.14% · promoters 100.00% · institutions 82.36% · other public 0.29%

  5. Approval for Appointment of Mr. Sebastian Paeßens (DIN: 09058693) as a Director, liable to retire by rotation
    Ordinary
    96.75% for3.25% against

    Against: promoters 0.00% · institutions 19.30% · other public 47.48%

    Turnout: all 90.15% · promoters 100.00% · institutions 82.36% · other public 0.34%

  6. Approval for appointment of M/s. Makarand M. Joshi & Co., Company Secretaries (Firm registration no: P2009MH007000) as Secretarial Auditors of the Company for a term of five consecutive years, commencing from Financial Year 2025-26 till Financial Year 2029-30MoreLess
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.27% · other public 47.50%

    Turnout: all 90.15% · promoters 100.00% · institutions 82.36% · other public 0.34%

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, 19 Jul 2024, 5 resolutions

Present: 1 promoter and 47 others.The company's voting result (opens in a new tab)

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

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

    Turnout: all 92.61% · promoters 100.00% · institutions 84.27% · other public 33.51%

  2. Declaration of Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity share for the financial year ended March 31, 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 92.61% · promoters 100.00% · institutions 84.27% · other public 33.51%

  3. Re-appointment of Mr. Sebastian Paeßens (DIN 09058693) as a Director, liable to retire by rotation
    Ordinary
    97.34% for2.66% against

    Against: promoters 0.00% · institutions 16.09% · other public 0.00%

    Turnout: all 92.61% · promoters 100.00% · institutions 84.27% · other public 33.51%

  4. Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2024 to March 31, 2025
    Ordinary
    99.11% for0.89% against

    Against: promoters 0.00% · institutions 5.36% · other public 0.00%

    Turnout: all 92.61% · promoters 100.00% · institutions 84.27% · other public 33.51%

  5. Approval for appointment of Dr. Vandana Aggarwal (DIN: 08013771) as an Independent Director, not liable to retire by rotation, for a period of five (5) consecutive years commencing from July 23, 2024 till July 22, 2029MoreLess
    Special
    98.27% for1.73% against

    Against: promoters 0.00% · institutions 10.44% · other public 0.04%

    Turnout: all 92.61% · promoters 100.00% · institutions 84.27% · other public 33.51%

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 Jul 2023, 4 resolutions

Present: 1 promoter and 60 others.The company's voting result (opens in a new tab)

  1. 1 - (a)tAdoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023, the Reports of the Board of Directors and Auditors; andnn(b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Report of the Auditors thereon.nMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.60%

    Turnout: all 86.02% · promoters 100.00% · institutions 70.66% · other public 0.87%

  2. Declaration of Dividend of Rs. 30/- (Rupees Thirty Only) per Equity share for the financial year ended March 31, 2023
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.70%

    Turnout: all 86.03% · promoters 100.00% · institutions 70.78% · other public 0.87%

  3. Re-appointment of Mr. Florian Ulrich Bumberger (DIN 09045904) as a Director, liable to retire by rotation
    Ordinary
    97.98% for2.02% against

    Against: promoters 0.00% · institutions 15.86% · other public 0.69%

    Turnout: all 86.03% · promoters 100.00% · institutions 70.78% · other public 0.87%

  4. Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2023 to March 31, 2024
    Ordinary
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 1.31% · other public 0.72%

    Turnout: all 86.03% · promoters 100.00% · institutions 70.78% · other public 0.83%

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, 23 Dec 2022, 1 resolution

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

  1. Material Related Party Transaction(s) between Blue Dart Aviation Ltd. and DHL Aviation (Netherlands) B.V.
    OrdinaryPromoters have an interest in it
    85.13% for14.87% against

    Against: promoters 0.00% · institutions 21.05% · other public 0.07%

    Turnout: all 16.67% · promoters 0.00% · institutions 88.77% · other public 41.76%

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 Jul 2022, 9 resolutions

Present: 1 promoter and 58 others.The company's voting result (opens in a new tab)

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

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

    Turnout: all 83.52% · promoters 100.00% · institutions 57.46% · other public 8.63%

  2. Confirmation for payment of Interim Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity Share already paid for the financial year ended March 31, 2022 and Declaration of Final Dividend of Rs. 35/- (Rupees Thirty Five Only) per Equity share for the financial year ended March 31, 2022MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.63%

  3. Re-appointment of Ms. Tulsi Nowlakha Mirchandaney (DIN: 01842520) as a Director, liable to retire by rotation
    Ordinary
    99.14% for0.86% against

    Against: promoters 0.00% · institutions 6.86% · other public 0.07%

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.63%

  4. Approval for appointment of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants, (Firm Registration Number: 117366W/ W-100018) as Statutory Auditors for a term of five consecutive years from conclusion of the thirty first Annual General Meeting till conclusion of the thirty sixth Annual General Meeting of the Company to be held in the year 2027nnnnMoreLess
    Ordinary
    97.84% for2.16% against

    Against: promoters 0.00% · institutions 17.21% · other public 0.03%

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.63%

  5. Approval for payment of additional incentive of Rs. 6 Lakhs (total incentive amount upto Rs. 135 Lakhs out of which Rs. 129 Lakhs already approved by the Members at the last AGM) to Mr. Balfour Manuel, Managing Director (DIN : 08416666) for the calendar year ended December 31, 2021 and extension of `Performance Share Plan’ scheme and `Share Matching Scheme’ of Deutsche Post AG, Germany, the Company’s ultimate holding companyMoreLess
    Special
    98.36% for1.64% against

    Against: promoters 0.00% · institutions 13.08% · other public 0.20%

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.63%

  6. Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2022 to May 15, 2022
    Special
    98.25% for1.75% against

    Against: promoters 0.00% · institutions 13.92% · other public 0.22%

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.60%

  7. Approval for re-appointment of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for a further period of 5 (five) years commencing from May 16, 2022 till May 15, 2027 and fixation of remuneration for the period May 16, 2022 till March 31, 2023MoreLess
    OrdinaryPromoters have an interest in it
    98.23% for1.77% against

    Against: promoters 0.00% · institutions 14.11% · other public 0.11%

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.61%

  8. Approval for appointment of Mr. Prakash Apte (DIN:00196106) as an Independent Director, not liable to retire by rotation, for a period of five (5) consecutive years commencing from July 28, 2022 till July 27, 2027MoreLess
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.22% · other public 0.09%

    Turnout: all 86.94% · promoters 100.00% · institutions 83.76% · other public 8.63%

  9. Approval for appointment of Ms. Padmini Khare Kaicker (DIN: 00296388) as an Independent Director, not liable to retire by rotation, for a period of five (5) consecutive years commencing from July 28, 2022 till July 27, 2027MoreLess
    Special
    99.06% for0.94% against

    Against: promoters 0.00% · institutions 10.48% · other public 0.09%

    Turnout: all 83.56% · promoters 100.00% · institutions 57.76% · other public 8.63%

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, 30 Jul 2021, 10 resolutions

Present: 1 promoter and 57 others.The company's voting result (opens in a new tab)

  1. (a) Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2021, the reports of the Board of Directors and Auditors; andn(b) Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2021, together with the Report of the Auditors thereon.nnnnMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.54% · promoters 100.00% · institutions 51.85% · other public 7.54%

  2. Declaration of Dividend on Equity shares for the Financial year ended March 31, 2021
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.12% · promoters 100.00% · institutions 79.96% · other public 7.55%

  3. Re-appointment of Mr. R.S. Subramanian (DIN: 02946608) as a Director, liable to retire by rotation
    Ordinary
    98.87% for1.13% against

    Against: promoters 0.00% · institutions 10.43% · other public 0.02%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.54%

  4. Approval for Appointment of Mr Florian Ulrich Bumberger (DIN 09045904) as a Director, liable to retire by rotation
    Ordinary
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 4.22% · other public 0.02%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.54%

  5. Approval for Appointment of Mr. Sebastian Paeßens (DIN: 09058693) as a Director, liable to retire by rotation
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 1.78% · other public 0.02%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.50%

  6. Approval for payment of additional incentive to Mr. Balfour Manuel, Managing Director (DIN : 08416666) for the calendar year ended December 31, 2020
    Special
    98.18% for1.82% against

    Against: promoters 0.00% · institutions 16.82% · other public 0.12%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.54%

  7. Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the financial year April 01, 2021 to March 31, 2022
    Special
    98.09% for1.91% against

    Against: promoters 0.00% · institutions 17.65% · other public 0.12%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.54%

  8. Approval for re-appointment of Air Marshal M. McMahon (Retd.) (DIN 00234293) as an Independent Director, not liable to retire by rotation, for a further period of three (3) years commencing from February 10, 2022 till February 09, 2025MoreLess
    Special
    99.56% for0.44% against

    Against: promoters 0.00% · institutions 6.32% · other public 0.02%

    Turnout: all 81.62% · promoters 100.00% · institutions 44.66% · other public 7.54%

  9. Approval for re-appointment of Ms. Kavita Nair (DIN 07771200) as woman Independent Director, not liable to retire by rotation, for a further period of five (5) years commencing from September 26, 2021 till September 25, 2026MoreLess
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.56% · other public 0.09%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.54%

  10. Approval for payment of remuneration to the Non-Executive Directors (by way of commission) for a period of 5 years w.e.f. August 1, 2021
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.02% · other public 0.04%

    Turnout: all 85.15% · promoters 100.00% · institutions 72.33% · other public 7.54%

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, 31 Jul 2020, 5 resolutions

Present: 1 promoter and 52 others.The company's voting result (opens in a new tab)

  1. 1 a) Adoption of Audited Financial Statements of the Company for the financial year ended March 31, 2020, the reports of the Board of Directors and Auditors; andnn1 b) Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2020, together with the Report of Auditors.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.50% · promoters 100.00% · institutions 49.55% · other public 7.54%

  2. 2 - Re-appointment of Mr. Kenneth Allen (DIN: 08376337) as a Director, liable to retire by rotation
    Ordinary
    98.27% for1.73% against

    Against: promoters 0.00% · institutions 25.77% · other public 0.07%

    Turnout: all 81.33% · promoters 100.00% · institutions 40.78% · other public 7.54%

  3. 3 - a) Approval for payment of remuneration to Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period from May 16, 2019 to March 31, 2020
    Special
    98.00% for2.00% against

    Against: promoters 0.00% · institutions 18.71% · other public 0.12%

    Turnout: all 84.96% · promoters 100.00% · institutions 68.00% · other public 7.54%

  4. 4 - 3 b) Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period from April 01, 2020 to March 31, 2021.
    Special
    98.00% for2.00% against

    Against: promoters 0.00% · institutions 18.71% · other public 0.18%

    Turnout: all 84.96% · promoters 100.00% · institutions 68.00% · other public 7.54%

  5. 5 - 4. Approval for continuance of appointment of Mr. Narendra Sarda (DIN: 03480129) as a Non-Executive Independent Director on his attaining the age of 75 years
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 84.96% · promoters 100.00% · institutions 68.00% · other public 7.54%

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 22 Sep 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

  • (a)Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and (b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    8 for0 against
  • Declaration of Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity share for the financial year ended March 31, 2026
    8 for0 against
  • Re-appointment of Mr. Sebastian Paeßens (DIN: 09058693) as a Director, liable to retire by rotation
    8 for0 against
  • Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2026 to March 31, 2027
    Against DSP Mutual Fund, Jio BlackRock Mutual Fund
    • DSP Mutual Fund, Jio BlackRock Mutual FundBalfour Manuel, 65, has been on the board as Managing Director since May 2019. The company has not clearly disclosed his remuneration in the FY26 directors’ report: from the related party transactions, we gather that his remuneration aggregated Rs. 40.2 mn in FY26. However, we note that the disclosures for past remuneration are unclear, as are those on proposed remuneration. Although remuneration is estimated at Rs. 45.7 mn, this excludes the quantum of benefits from Deutsche Post DHL’s (DPDHL) Long Term Incentive schemes - Performance Share Plan (PSP) and Share Matching Scheme (SMS) LTI Schemes, which has not been disclosed for the past nor for the proposed term. We note that the cost of the schemes is measured by the holding company and recovered from Blue Dart. Given the lack of disclosure, we do not support the transaction.
    6 for2 against
  • Approval for payment of commission to Non-Executive Directors for a period of five years with effect from August 01, 2026 to July 31, 2031
    8 for0 against
  • Approval for appointment of Mr. Charles Simon Dobbie (DIN: 10302056) as a Director, liable to retire by rotation
    8 for0 against
  • Approval for appointment of Mr. Rajat Kumar Jain (DIN: 00046053) as an Independent Director, for a period of five (5) consecutive years with effect from September 23, 2026 till September 22, 2031
    8 for0 against
  • Approval for appointment of Mr. Avijit Mukerji (DIN: 03534116) as an Independent Director, for a period of five (5) consecutive years with effect from September 23, 2026 till September 22, 2031
    8 for0 against

Mutual fund votes, meeting of 13 Aug 2025, 17 fund houses

  • (a)Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon; and (b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors thereon.MoreLess
    17 for0 against
  • Declaration of Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity share for the financial year ended March 31, 2025
    17 for0 against
  • Re-appointment of Mr. R.S.Subramanian (DIN 02946608) as a Director, liable to retire by rotation
    17 for0 against
  • Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2025 to March 31, 2026
    Against Axis Mutual Fund, Canara Robeco Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual Fund, Canara Robeco Mutual FundBalfour Manuel, 64, has been on the board as Managing Director since May 2019. The company has not clearly disclosed his remuneration in the FY25 directors’ report: from the related party transactions, we gather that his remuneration aggregated Rs. 45.2 mn in FY25. The disclosures for past remuneration are unclear, as are the disclosure on proposed remuneration. There is no clarity on the quantum of benefits from Deutsche Post DHL’s (DPDHL) Long Term Incentive schemes - Performance Share Plan (PSP) and Share Matching Scheme (SMS) LTI Schemes – for the past nor for the proposed. We note that the cost of the schemes is measured by the holding company and recovered from Blue Dart. Given the lack of disclosure, we are neither able to build a trajectory of past remuneration nor estimate the proposed remuneration.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    14 for3 against
  • Approval for Appointment of Mr. Sebastian Paeßens (DIN: 09058693) as a Director, liable to retire by rotation
    Against 360 One Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • 360 One Mutual FundSebastian Paebens, 51, is CFO of DHL e-Commerce Solutions, a business division of Deutsche Post DHL Group, He served as a Non -Executive Non-Independent Director on the board of the company from 24 February 2021 to 23 August 2024. The company post his cessation seeks approval to him as a Non-Executive Non-Independent Director , liable to retire by rotation from 26 May 2026. Although his appointment is in line with statutory requirements, during his directorship in FY25, he attended one of four (25%) board meetings and fourteen of twenty one (67%) meetings over the past three years. We expect directors to take their responsibilities seriously and attend all board meetings. We do not support the resolution.
    • Angel One Mutual FundGovernance concern: Low attendance – Director attended only one out of four board meetings held during the year when he was on the Board and no justification provided for such low attendance.
    • Axis Mutual Fund, SBI Mutual FundSebastian Paeβens, 51, is CFO of DHL e-Commerce Solutions, a business division of Deutsche Post DHL Group, He served as a Non -Executive Non-Independent Director on the board of the company from 24 February 2021 to 23 August 2024. The company post his cessation seeks approval to him as a Non-Executive Non-Independent Director , liable to retire by rotation from 26 May 2026. Although his appointment is in line with statutory requirements, during his directorship in FY25, he attended one of four (25%) board meetings and fourteen of twenty one (67%) meetings over the past three years. We expect directors to take their responsibilities seriously and attend all board meetings. We do not support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Low attendance – Director attended only 1 out of 4 board meetings held during the year when he was on the Board and no justification provided for such low attendance.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundGovernance concern: Low attendance.
    6 for11 against
  • Approval for appointment of M/s. Makarand M. Joshi & Co., Company Secretaries (Firm registration no: P2009MH007000) as Secretarial Auditors of the Company for a term of five consecutive years, commencing from Financial Year 2025-26 till Financial Year 2029-30MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundTransparency Concern: No justification for the material change / increase in the proposed auditors’ remuneration by ~30%.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: No justification for the material change / increase in the proposed auditors’ remuneration by ~30%.
    11 for6 against
6 earlier meetings

Mutual fund votes, meeting of 19 Jul 2024, 16 fund houses

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

  • 1-(a) Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon; andn(b) Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024, together with the Report of the Auditors thereonMoreLess
    16 for0 against
  • Declaration of Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity share for the financial year ended March 31, 2024
    16 for0 against
  • Re-appointment of Mr. Sebastian Paeßens (DIN 09058693) as a Director, liable to retire by rotation
    16 for0 against
  • Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2024 to March 31, 2025
    Against Axis Mutual Fund
    • Axis Mutual FundBalfour Manuel, 63, has been on the board as Managing Director since May 2019. The company has not clearly disclosed his remuneration in the FY24 directors’ report: from the related party transactions, we gather that his remuneration aggregated Rs. 50.1 mn in FY24. The disclosures for past remuneration are unclear, as are the disclosure on proposed remuneration. There is no clarity on the quantum of benefits from Deutsche Post DHL’s (DPDHL) Long Term Incentive schemes - Performance Share Plan (PSP) and Share Matching Scheme (SMS) LTI Schemes – for the past nor for the proposed. We note that the cost of the schemes is measured by the holding company and recovered from Blue Dart. Given the lack of disclosure, we are neither able to build a trajectory of past remuneration nor estimate the proposed remuneration.
    15 for1 against
  • Approval for appointment of Dr. Vandana Aggarwal (DIN: 08013771) as an Independent Director, not liable to retire by rotation, for a period of five (5) consecutive years commencing from July 23, 2024 till July 22, 2029MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundNo concern on the merit of proposed appointee. Non-Compliant with SEBI LODR & Companies Act, 2013: Terms and Conditions of appointment of proposed appointee not disclosed on the website of the Company.
    • Nippon India Mutual FundInadequate Disclosure
    9 for6 against
1 proposal not matched to one resolution
  • To receive, Nomination and Remuneration Committee and Board of Directors of the Company, Dr. Vandana Aggarwal (DIN: 08013771).
    1 for0 against

Mutual fund votes, meeting of 27 Jul 2023, 16 fund houses

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

  • 1 - (a)tAdoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023, the Reports of the Board of Directors and Auditors; andnn(b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Report of the Auditors thereon.nMoreLess
    15 for0 against
  • Declaration of Dividend of Rs. 30/- (Rupees Thirty Only) per Equity share for the financial year ended March 31, 2023
    16 for0 against
  • Re-appointment of Mr. Florian Ulrich Bumberger (DIN 09045904) as a Director, liable to retire by rotation
    Against HSBC Mutual Fund
    • HSBC Mutual FundWe have concerns about insufficient independence on the Nomination committee.We have concerns about insufficient independence on the Remuneration committee.
    15 for1 against
  • Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2023 to March 31, 2024
    16 for0 against
1 proposal not matched to one resolution
  • Accept Financial Statements and Statutory Reports
    1 for0 against

Mutual fund votes, meeting of 23 Dec 2022, 11 fund houses

  • Material Related Party Transaction(s) between Blue Dart Aviation Ltd. and DHL Aviation (Netherlands) B.V.
    11 for0 against

Mutual fund votes, meeting of 27 Jul 2022, 10 fund houses

  • (a)Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022, the Reports of the Board of Directors and Auditors; andn(b)Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Report of the Auditors thereon.nMoreLess
    10 for0 against
  • Confirmation for payment of Interim Dividend of Rs. 25/- (Rupees Twenty Five Only) per Equity Share already paid for the financial year ended March 31, 2022 and Declaration of Final Dividend of Rs. 35/- (Rupees Thirty Five Only) per Equity share for the financial year ended March 31, 2022MoreLess
    10 for0 against
  • Re-appointment of Ms. Tulsi Nowlakha Mirchandaney (DIN: 01842520) as a Director, liable to retire by rotation
    10 for0 against
  • Approval for appointment of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants, (Firm Registration Number: 117366W/ W-100018) as Statutory Auditors for a term of five consecutive years from conclusion of the thirty first Annual General Meeting till conclusion of the thirty sixth Annual General Meeting of the Company to be held in the year 2027nnnnMoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    9 for1 against
  • Approval for payment of additional incentive of Rs. 6 Lakhs (total incentive amount upto Rs. 135 Lakhs out of which Rs. 129 Lakhs already approved by the Members at the last AGM) to Mr. Balfour Manuel, Managing Director (DIN : 08416666) for the calendar year ended December 31, 2021 and extension of `Performance Share Plan’ scheme and `Share Matching Scheme’ of Deutsche Post AG, Germany, the Company’s ultimate holding companyMoreLess
    10 for0 against
  • Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period April 01, 2022 to May 15, 2022
    10 for0 against
  • Approval for re-appointment of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for a further period of 5 (five) years commencing from May 16, 2022 till May 15, 2027 and fixation of remuneration for the period May 16, 2022 till March 31, 2023MoreLess
    10 for0 against
  • Approval for appointment of Mr. Prakash Apte (DIN:00196106) as an Independent Director, not liable to retire by rotation, for a period of five (5) consecutive years commencing from July 28, 2022 till July 27, 2027MoreLess
    10 for0 against
  • Approval for appointment of Ms. Padmini Khare Kaicker (DIN: 00296388) as an Independent Director, not liable to retire by rotation, for a period of five (5) consecutive years commencing from July 28, 2022 till July 27, 2027MoreLess
    Against Axis Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual FundPadmini Khare Kaicker, 55, is the Managing Partner of B. K. Khare & Co. She has over 24 years of experience serving large and mid-sized clients across businesses like manufacturing, oil and gas, banking and financial services, insurance, IT, hospitality, real estate and retail sectors. With her appointment on Blue Dart’s board, Padmini Khare Kaicker will be serving as Independent Director on the board of four listed companies. Given their full-time responsibilities, regulations allow whole time directors of listed companies to be independent directors in maximum of three listed companies. We believe that her responsibilities as the Managing Partner of B. K. Khare & Co are equivalent to a whole-time directorship. Therefore, the high number of directorships on listed companies are not in keeping with the spirit of the regulation.
    • Invesco Mutual FundPadmini Khare Kaicker, 55, is the Managing Partner of B. K. Khare & Co. She has over 24 years of experience serving large and mid-sized clients across businesses like manufacturing, oil and gas, banking and financial services, insurance, IT, hospitality, real estate and retail sectors. With her appointment on Blue Dart’s board, Padmini Khare Kaicker will be serving as Independent Director on the board of four listed companies. Given their full-time responsibilities, regulations allow whole time directors of listed companies to be independent directors in maximum of three listed companies. We believe that her responsibilities as the Managing Partner of B. K. Khare & Co are equivalent to a whole-time directorship. Therefore, the high number of directorships on listed companies are not in keeping with the spirit of the regulation
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    7 for3 against

Mutual fund votes, meeting of 30 Jul 2021, 9 fund houses

  • (a) Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2021, the reports of the Board of Directors and Auditors; andn(b) Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2021, together with the Report of the Auditors thereon.nnnnMoreLess
    9 for0 against
  • Declaration of Dividend on Equity shares for the Financial year ended March 31, 2021
    9 for0 against
  • Re-appointment of Mr. R.S. Subramanian (DIN: 02946608) as a Director, liable to retire by rotation
    9 for0 against
  • Approval for Appointment of Mr Florian Ulrich Bumberger (DIN 09045904) as a Director, liable to retire by rotation
    9 for0 against
  • Approval for Appointment of Mr. Sebastian Paeßens (DIN: 09058693) as a Director, liable to retire by rotation
    9 for0 against
  • Approval for payment of additional incentive to Mr. Balfour Manuel, Managing Director (DIN : 08416666) for the calendar year ended December 31, 2020
    9 for0 against
  • Approval for revision in remuneration of Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the financial year April 01, 2021 to March 31, 2022
    9 for0 against
  • Approval for re-appointment of Air Marshal M. McMahon (Retd.) (DIN 00234293) as an Independent Director, not liable to retire by rotation, for a further period of three (3) years commencing from February 10, 2022 till February 09, 2025MoreLess
    Against DSP Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • DSP Mutual Fund, SBI Mutual FundAir Marshal M. McMahon, 76, retired Air Marshal, has been on the board of the company since February 2017 and on the board of Blue Dart Aviation Limited, a wholly owned subsidiary, since 2005. He attended all the board meetings in FY21. In keeping with SEBI’s LODR requirements, the company is also seeking shareholder approval for his continuation on the board given he is over the age of 75 years. While approval is needed for regulatory reasons, we do not consider age a criterion for continuation as a director. Nonetheless, given his long association, over ten years with the Blue Dart group, we consider him as non-independent. The company must consider reappointing him as a Non-Executive Non-Independent director.
    • Nippon India Mutual FundProlonged association with the group
    6 for3 against
  • Approval for re-appointment of Ms. Kavita Nair (DIN 07771200) as woman Independent Director, not liable to retire by rotation, for a further period of five (5) years commencing from September 26, 2021 till September 25, 2026MoreLess
    9 for0 against
  • Approval for payment of remuneration to the Non-Executive Directors (by way of commission) for a period of 5 years w.e.f. August 1, 2021
    9 for0 against

Mutual fund votes, meeting of 31 Jul 2020, 7 fund houses

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

  • 1 a) Adoption of Audited Financial Statements of the Company for the financial year ended March 31, 2020, the reports of the Board of Directors and Auditors; andnn1 b) Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2020, together with the Report of Auditors.MoreLess
    2 for0 against

    3 abstained

  • 2 - Re-appointment of Mr. Kenneth Allen (DIN: 08376337) as a Director, liable to retire by rotation
    Against SBI Mutual Fund
    • SBI Mutual FundKenneth Allen was appointed as Director by shareholders in the . Post appointment, he attended only one out of the six (17%) board meetings in FY20. Today with the wide access to technology, board members can virtually attend meetings through video conferencing facilities etc. Given the options available to participate in board meetings, a 17% board attendance is very low and not justified. We expect directors to take their responsibilities seriously and attend all board meetings.
    3 for1 against

    3 abstained

  • 3 - a) Approval for payment of remuneration to Mr. Balfour Manuel, Managing Director (DIN: 08416666) for the period from May 16, 2019 to March 31, 2020
    0 for0 against

    1 abstained

  • 5 - 4. Approval for continuance of appointment of Mr. Narendra Sarda (DIN: 03480129) as a Non-Executive Independent Director on his attaining the age of 75 years
    4 for0 against

    3 abstained

5 proposals not matched to one resolution
  • 3) Approve payment of minimum remuneration to Mr. Balfour Manuel, Managing Director for the period 16th May, 2019 to 31st March, 2020 and revise his remuneration for the period 1st April, 2020 to 31st March, 2021.MoreLess
    1 for0 against
  • Adoption of standalone and consolidation financial statements for the year ended 31 March 2020
    2 for0 against
  • Appointment and remuneration payable to Mr. Balfour Manuel, Managing Director (DIN: 08416666)
    1 for0 against

    1 abstained

  • Approve payment of minimum remuneration to Balfour Manuel (DIN: 08416666), Managing Director for the period 16 May 2019 to 31 March 2020 and revise his remuneration for the period 1 April 2020 to 31 March 2021MoreLess
    2 for0 against
  • To approve payment of minimum remuneration to Balfour Manuel (DIN: 08416666), Managing Director for the period 16 May 2019 to 31 March 2020 and revise his remuneration for the period 1 April 2020 to 31 March 2021MoreLess
    0 for0 against

    1 abstained

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

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltySTATE GOODS & SERVICE TAX DEPARTMENT, GUJARATSince 11 Aug 2026

    Notice under section 129(3) of CGST Act, 2017

    FORM GST MOV 07 Date: 11Aug26
  • Fine or penaltySTATE GOODS & SERVICE TAX DEPARTMENT, TAMILNADUSince 31 Aug 2026

    Notice under section 129(3) of CGST Act, 2017

    FORM GST MOV 07 Date: 31Aug26
  • Fine or penaltySTATE GOODS & SERVICE TAX DEPARTMENT, UTTAR PRADESHSince 3 Sep 2026

    Notice under section 129(3) of CGST Act, 2017

    FORM GST MOV 07 Date: 3Sep26
  • Tax disputeDepartment of Commercial Taxes Palakkad State Goods and Services Tax Department, ErnakulamSince 18 Nov 2013
    Writ pending before the Kerala High Court
    At the filing before: FY 2013-14 (18 November 2013) Non-payment of VAT on COD shipments delivered inside Kerala Penalty levied under Section 67(1) of the Kerala VAT Act, 2003 FY 2011-12 and FY 2012-13 (13 May 2014) Non-payment of VAT on COD shipments delivered inside Kerala Penalty levied under Section 67(1) of the Kerala VAT Act, 2003 FY 2013-14 (6 March 2020 served on 6 March 2021) Non-payment of VAT on COD shipments delivered inside Kerala. Penalty levied under Section 47of the Kerala VAT Act, 2003. Demand raised for FY 2011-12 and 2012-13 by Commercial Tax Officer against which Writ is filed with the Kerala High Court in month August 2015. An interim order has been issued staying recovery of tax demand and penalties from Blue Dart. Final hearing is awaited. (Tax Amount of Rs. 8.08 crores is under dispute plus applicable interest, penalty)MoreLess
  • Tax disputeAdditional / Joint / Deputy / Assistant Commissioner of Income Tax/ Income-tax Officer, National e-Assessment CentreSince 20 Jan 2023
    Pending before the Commissioner of Income Tax (Appeals)
    At the filing before: AY 2021-22 ( 20 January 2023 ) Addition made of Rs. 19.70 Crores to returned income u/s 143(1)(a) of the Income tax Act, 1961. Tax thereon Rs. 4.96 Crores excluding interest
  • Tax disputeDeputy Commissioner of Income-tax- 1(2)(1), MumbaiSince 12 Dec 2023
    Pending before the Bombay High Court
    At the filing before: AY 2015-16, 2016-17 and 2017-18 (12 December 2023) AY 2018-19 (21 September 2024). Whether dividend declared to a non-resident shareholder, rate of dividend distribution tax referred to in section 115-O of the Income tax Act, 1961 would be applicable and not the rate of tax mentioned in the relevant Double Tax Avoidance Agreement with reference to such dividend incomeMoreLess
  • Tax disputeExcise and Taxation Department , Panchkula, haryanaSince 30 Apr 2024
    Ongoing Litigation Pending for hearing with GST Appellate - Haryana
    At the filing before: FY 2018-19 (30 April 2024) Demand raised for FY 2018-19 by excise and taxation officer cum proper officer, ward 2 Panchkula order dated 30th Apr 2024 against which appeal is filled with GST appellate on 29th Jul 2024. Tax amount Rs 7.9 Crores excluding interest and penalty.MoreLess
  • Tax disputeCommissioner of Service Tax ChennaiSince 10 Aug 2019
    Admitted by the Supreme Court. Pending for hearing
    At the filing before: There is an ongoing service tax litigation of the Company’s subsidiary viz; Blue Dart Aviation Ltd., in respect of which the CESTAT had passed an order in favour of the Company’s subsidiary on 10th August,2018. The Revenue Department has preferred an appeal against said favourable order 2nd April, 2019, before the Supreme Court and matter is ongoing. There are no material developments as on date /status-quo. It is not determined as `contingent liability’ and we have been disclosing in the Subsidiary’s Accounts.”MoreLess
2 more
  • Tax disputeCommissioner, Central GST, Panchkula, HaryanaSince 3 Feb 2025
    Ongoing Litigation
    At the filing before: Demand raised for FY 2017-18 to 2021-22 by The Commissioner, Central GST, Panchkula, Haryana order dated 03rd February 2025. Tax amount Rs. 11.6 Crores excluding interest and penalty.
  • Tax disputeCommissioner of Income-tax (Appeals)Since 30 Mar 2026
    Appeal filed with CIT(A)on 29 April 2026
    At the filing before: AY 2018-29 (30 March 2026) Order under section 147 of the IT Act, 1961. Demand raised for AY 2018-19 by Assessment unit Income Tax Department dated 30 March 2026. Demand amount is Rs. 70.58 Crores Including interest.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 1 complaint open, quarter to Mar 2026.
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
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.