Century Plyboards (India) CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 23 Dec 2025, 21 fund houses

• Appointment of Ms. Nilima Joshi (DIN: 00204705) as an Independent Director of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundTerms and Conditions of appointment of proposed Independent Director not disclosed on the website of the Company.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNo concern identified on the merits of proposed appointee. Non-Compliant with SEBI (LODR), 2015 & Companies Act, 2013: Terms and Conditions of appointment of proposed ID not disclosed on the website of the Company.

  15 for6 against

Mutual fund votes, meeting of 18 Sep 2025, 21 fund houses

• To receive, consider and adopt: a. the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Reports of the Board of Directors and the Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with Report of the Auditors thereonMoreLess

  21 for0 against
• To declare dividend on Equity Shares for the Financial Year ended 31st March, 2025

  21 for0 against
• To appoint a Director in place of Sri Ajay Baldawa (DIN: 00472128), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Jio BlackRock Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Low attendance at board meetings.
  • Axis Mutual Fund, Bank of India Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund, Sundaram Mutual FundAjay Baldawa, 65, is Director – Technical of the company. He has been on the board since 23 February 1994. He retires by rotation. Ajay Baldawa attended two out of four (50%) board meetings in FY25 and seven out of twelve (58%) board meetings in the last three years. We expect directors to attend all board meetings during the year and have an attendance threshold of 75% of the board meetings over the last three years. Given his average attendance of less than 75% over three years, we do not support his reappointment.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on merit of appointee. Governance concern: Low attendance at board meetings.

  9 for12 against
• To appoint a Director in place of Ms. Nikita Bansal (DIN: 03109710), who retires by rotation at this Annual General Meeting and being eligible, offers herself for re-appointment.

  ›Against Axis Mutual Fund, Bank of India Mutual Fund, Jio BlackRock Mutual Fund

  • Axis Mutual FundMs. Nikita Bansal, 36, is a Wholetime Director and belongs to the promoter group – she is the daughter of Sanjay Agarwal, Managing Director & CEO. She has been on the board since 1 February 2017. She leads the product lines for CenturyPly's sub-brands, Sainik and CenturyDoors. She also oversees procurement and digital marketing. She attended three out of four (75%) board meetings in FY25. She retires by rotation We raise concern that there are seven promoters Executive Directors on the board (44% of the total board size), which is not commensurate with the size and scale of the company. We do not support her reappointment.
  • Bank of India Mutual Fund, Jio BlackRock Mutual FundMs. Nikita Bansal, 36, is a Wholetime Director and belongs to the promoter group – she is the daughter of Sanjay Agarwal, Managing Director & CEO. She has been on the board since 1 February 2017. She leads the product lines for CenturyPly's sub-brands, Sainik and CenturyDoors. She also oversees procurement and digital marketing. She attended three out of four (75%) board meetings in FY25. She retires by rotationWe raise concern that there are seven promoters Executive Directors on the board (44% of the total board size), which is not commensurate with the size and scale of the company. We do not support her reappointment.

  18 for3 against
• To approve re-appointment of Sri Sajjan Bhajanka (DIN: 00246043) as Chairman and Managing Director of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Combined position of Chairman & Managing Director.Director holds two full-time positions in unrelated business, which results in excessive time commitment.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Combined position of Chairman & Managing Director. Director holds two full-time positions in unrelated business, which results in excessive time commitment.

  15 for6 against
• To approve re-appointment of Sri Keshav Bhajanka (DIN: 03109701) as an Executive Director of the Company

  ›Against Axis Mutual Fund, Bank of India Mutual Fund, Jio BlackRock Mutual Fund

  • Axis Mutual FundKeshav Bhajanka, 36, is Executive Director and part of the promoter group. He is the son of Sajjan Bhajanka, the Promoter, Chairperson, and Managing Director. Keshav Bhajanka has been on the board since January 2016. He attended all four (100%) board meetings in FY25. He was paid Rs. 20.5 mn as remuneration in FY25. We estimate his FY26 and FY27 remuneration at Rs. 21.6 mn and Rs. 26.0 mn respectively. He is eligible to receive commission upto 1.0% of net profits. The company must cap the commission component in absolute terms thereby capping the overall remuneration and disclose performance metrics that will determine variable pay. Further, we raise concern that the aggregate promoter representation on the board is high at seven board members (44% of the total board size), all of whom are executive. This practice deters from attracting right talent to the company. The aggregate promoter remuneration for FY25 was Rs. 188.1 mn, which was high at 6.5% of consolidated pre-tax profits. Therefore, we do not support his reappointment.
  • Bank of India Mutual Fund, Jio BlackRock Mutual FundKeshav Bhajanka, 36, is Executive Director and part of the promoter group. He is the son of Sajjan Bhajanka, the Promoter, Chairperson, and Managing Director. Keshav Bhajanka has been on the board since January 2016. He attended all four (100%) board meetings in FY25. He was paid Rs. 20.5 mn as remuneration in FY25. We estimate his FY26 and FY27 remuneration at Rs. 21.6 mn and Rs. 26.0 mn respectively. He is eligible to receive commission upto 1.0% of net profits. The company must cap the commission component in absolute terms thereby capping the overall remuneration and disclose performance metrics that will determine variable pay.Further, we raise concern that the aggregate promoter representation on the board is high at seven board members (44% of the total board size), all of whom are executive. This practice deters from attracting right talent to the company. The aggregate promoter remuneration for FY25 was Rs. 188.1 mn, which was high at 6.5% of consolidated pre-tax profits. Therefore, we do not support his reappointment.

  18 for3 against
• To appoint M/s MKB & Associates as Secretarial Auditors of the Company and to fix their remuneration

  21 for0 against

Mutual fund votes, meeting of 8 Jul 2025, 20 fund houses

• Appointment of Prof. (Dr.) Anuradha Lohia (DIN: 00599122) as an Independent Director of the Company

  20 for0 against
• Appointment of Shri Kothandaraman Hari (DIN: 08901674) as an Independent Director of the Company

  20 for0 against

Mutual fund votes, meeting of 25 Mar 2025, 18 fund houses

• Appointment of Prof. (Dr.) Arup Roy Choudhury (DIN: 00659908) as an Independent Director of the Company

  18 for0 against

Mutual fund votes, meeting of 25 Sep 2024, 16 fund houses

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

• To receive, consider and adopt:na. the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2024 together with the Reports of the Board of Directors and the Auditors thereon; andnb. the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2024 together with Report of the Auditors thereon.nMoreLess

  15 for0 against
• To declare dividend on Equity Shares for the Financial Year ended 31st March, 2024

  16 for0 against
• To appoint a Director in place of Sri Vishnu Khemani (DIN: 01006268), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.

  ›Against Axis Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, Sundaram Mutual FundVishnu Khemani, 72, is part of the promoter group and one of the company’s four Managing Directors. He is also Managing Director of Star Cement Ltd, a promoter group company. He has been on the board since 16 April 2008. He attended 75% (three out of four) board meetings held in FY24. While his reappointment is in line with regulations, the company has seven promoters (44% of the total board size) on the board as executive directors which is disproportionate for the size of business. This practice deters from attracting the right professional talent to the company. Further, the rationale for the company having four Managing Directors is unclear.

  14 for2 against
• To appoint a Director in place of Sri Keshav Bhajanka (DIN: 03109701), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.

  ›Against Axis Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, Sundaram Mutual FundKeshav Bhajanka, 35, is the son of Sajjan Bhajanka, CMD of the company. He is part of the promoter group. He has been on the board since 28 January 2016. He attended 75% (three out of four) board meetings held in FY24. We raise concern that the aggregate promoter representation on the board is high at seven board members (44% of the total board size), all of whom are executive. This practice deters from attracting right talent to the company. While his reappointment is in line with regulations, the company has seven promoters (44% of the total board size) on the board as executive directors which is disproportionate for the size of business. This practice deters from attracting the right talent to the company.

  14 for2 against
• Appointment of M/s. S. R. Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 301003E/E300005) as the Statutory Auditors of the Company and to fix their remuneration

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. Governance concern: No adequate justification for the Material changes in the Audit remuneration.

  13 for3 against

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

• Appointment of Shri Pramod Agrawal (DIN: 00279727) as an Independent Director of the Company

  17 for0 against