Clean Science and Technology logo

Clean Science and Technology MD, chairman, board of directors and AGM

NSE: CLEANBSE: 543318Chemicals & PetrochemicalsSmall Cap

Last close ₹713.50down ₹34.55 (4.62%)BSE ₹711.55

Share price at the NSE close on 23 Oct 2026. Previous close ₹748.05.

52-week range of traded prices to 23 Oct 2026
₹652.00Low, 30 Mar 2026₹1,069.80High, 24 Oct 2025
Market cap
₹7,583 Cr617th largest listed
P/E
32.6
P/B
4.8
Dividend yield
0.84%
ROE
15.5%
ROCE
17.1%
Debt to equity
0.00
Volume, NSE
2,75,82749.8% delivered

Clean Science and Technology 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

  • ChairpersonPradeep Ramwilas Rathi
  • Managing directorSiddhartha Ashok Sikchi
  • Company Secretary and Compliance OfficerMs. Ruchita Vij

8 directors3 independent4 executive1 non-executive

  • Pradeep Ramwilas Rathi · ChairpersonNon-executive · joined Dec 2006 · 1 listed board · 1 committee seat, 1 as chair
  • Ashok Ramnarayan BoobExecutive · joined Nov 2003 · reappointed Jul 2022 · 1 listed board
  • Siddhartha Ashok Sikchi · Managing directorExecutive · joined Dec 2006 · reappointed Apr 2026 · 1 listed board · 1 committee seat
  • Krishnakumar Ramnarayan BoobExecutive · joined Nov 2003 · reappointed Apr 2026 · 1 listed board
  • Krishnakumar Satyanarain SabooExecutive · joined Aug 2026 · 1 listed board
  • Keval Navinchandra DoshiIndependent · joined Feb 2021 · reappointed Feb 2026 · 67 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
  • Raj KamalIndependent · joined Nov 2025 · 10 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Pallavi Pratap GokhaleIndependent · joined Nov 2025 · 10 months as independent · 4 listed boards · 3 as independent · 4 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.

4 directors who left
  • Sanjay Kothari, left 10 Jun 2026: Others
  • Madhu Dubhashi, left 19 Feb 2026: Tenure Completion
  • Ganapati Dadasaheb Yadav, left 5 Feb 2026: Tenure Completion
  • Parth Ashok Maheshwari, left 31 Dec 2025: Others

Committees and meetings

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

  • Board

    • 1 Aug 20267 of 7 present3 independent · 78 days in between
    • 14 May 20267 of 8 present3 independent

  • Audit Committee

    Chair Keval Navinchandra Doshi

    Raj Kamal, Pallavi Pratap Gokhale

    • 1 Aug 20263 of 3 present3 independent · 78 days in between
    • 14 May 20263 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Keval Navinchandra Doshi

    Pradeep Ramwilas Rathi, Raj Kamal

    • 1 Aug 20263 of 3 present2 independent · 78 days in between
    • 14 May 20263 of 3 present2 independent · 2 days in between

  • Stakeholders Relationship Committee

    Chair Pradeep Ramwilas Rathi

    Keval Navinchandra Doshi, Siddhartha Ashok Sikchi

    • 14 May 20262 of 3 present1 independent

  • Risk Management Committee

    Chair Pradeep Ramwilas Rathi

    Keval Navinchandra Doshi, Siddhartha Ashok Sikchi, Pallavi Pratap Gokhale

    • 11 May 20265 of 5 present2 independent

  • Corporate Social Responsibility Committee

    Chair Raj Kamal

    Ashok Ramnarayan Boob, Krishnakumar Ramnarayan Boob

    • 14 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.

  • Price Waterhouse Chartered Accountants LLPPeer-review certificate valid to Nov 2026

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.

Clean Science and Technology 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.Clean Science and Technology dividend history

Annual general meeting, 12 Sep 2026

2,39,377 shareholders on the register on 5 Sep 2026; present: 22 promoters and 41 others; votes counted by Jayavant Bhave / J. B. Bhave & Co.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the Report of the Board of Directors and the Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.86% · promoters 100.00% · institutions 82.97% · other public 18.31%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the Report of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.86% · promoters 100.00% · institutions 82.97% · other public 18.31%

  3. To confirm payment of interim dividend of Rs. 2/- (200%) per equity share and to declare final dividend of Rs. 4/- (400 %) per Equity Share of Re.1/- each fully paid up for the Financial Year ended 31st March, 2026MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.94% · promoters 100.00% · institutions 83.26% · other public 18.31%

  4. To appoint a director in place of Mr. Krishnakumar Ramnarayan Boob, Whole-Time Director (DIN:00410672), who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.66% for0.34% against

    Against: promoters 0.00% · institutions 1.11% · other public 0.02%

    Turnout: all 78.94% · promoters 100.00% · institutions 83.26% · other public 18.31%

  5. Ratification of remuneration to Cost Auditors for Financial Year 2026-27
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.94% · promoters 100.00% · institutions 83.26% · other public 18.31%

  6. To approve appointment of Mr. Krishnakumar Satyanarain Saboo (DIN:11863005) as Whole-Time Director for a period of five (5) years commencing from 1st August, 2026 up to 31st July, 2031
    Ordinary
    99.21% for0.79% against

    Against: promoters 0.00% · institutions 2.61% · other public 0.02%

    Turnout: all 78.94% · promoters 100.00% · institutions 83.26% · other public 18.31%

  7. To Consider and Approve, payment of Commission to Non-Executive Director(S) for the Financial Year 2026-27
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.94% · promoters 100.00% · institutions 83.26% · other public 18.31%

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, 16 Dec 2025, 6 resolutions

2,49,493 shareholders on the register on 10 Nov 2025; votes counted by Jayavant B. Bhave / J. B. Bhave & Co..The company's voting result (opens in a new tab)

  1. To approve continuation of directorship of Ms. Madhu Dubhashi (DIN:00036846) as a Non-executive Independent Director of the Company, consequent to attaining the age of 75 years w.e.f. 6thFebruary, 2026 up to the expiry of her current term i.e.,19th February, 2026.MoreLess
    Special
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.12% · other public 0.76%

    Turnout: all 79.40% · promoters 100.00% · institutions 80.90% · other public 21.91%

  2. To approve re-appointment of Mr. Keval Navinchandra Doshi (DIN:03635213) as a Non-executive Independent Director of the Company for further period of 5 (five) consecutive years w.e.f. 6th February 2026 up to 5th February 2031.MoreLess
    Special
    99.47% for0.53% against

    Against: promoters 0.00% · institutions 1.62% · other public 0.76%

    Turnout: all 79.40% · promoters 100.00% · institutions 80.90% · other public 21.91%

  3. To approve appointment of Mr. Raj Kamal (DIN:01083088) as a Non-executive Independent Director of the Company for a period of 5 (five) consecutive years commencing from 6th November, 2025 to 5th November, 2030.MoreLess
    Special
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.76%

    Turnout: all 79.40% · promoters 100.00% · institutions 80.90% · other public 21.91%

  4. To approve appointment of Ms. Pallavi Gokhale (DIN:00036369) as a non-executive Independent Director of the Company for period of 5 (five) consecutive years commencing from 6th November, 2025 to 5th November, 2030.MoreLess
    Special
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.75%

    Turnout: all 79.40% · promoters 100.00% · institutions 80.90% · other public 21.91%

  5. To approve change in the designation of Mr. Ashok Ramnarayan Boob (DIN:00410740) from Managing Director to Whole Time Director - Executive Vice Chairman w.e.f. from 1st April, 2026 up to 27th July, 2027.MoreLess
    OrdinaryPromoters have an interest in it
    97.89% for2.11% against

    Against: promoters 0.00% · institutions 6.77% · other public 0.76%

    Turnout: all 79.40% · promoters 100.00% · institutions 80.90% · other public 21.91%

  6. To approve change in the designation of Mr. Siddhartha Ashok Sikchi (DIN:02351154), from Whole Time Director to Managing Director of the Company w.e.f. from 1st April, 2026 up to 31st March, 2031.
    Ordinary
    91.75% for8.25% against

    Against: promoters 0.00% · institutions 26.88% · other public 0.77%

    Turnout: all 79.40% · promoters 100.00% · institutions 80.90% · other public 21.91%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 11 Sep 2025, 9 resolutions

2,44,600 shareholders on the register on 4 Sep 2025; present: 23 promoters and 47 others; votes counted by Jayavant Bhave / J. B. Bhave & Co.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Report of the Board of Directors and the Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Report of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  3. To confirm payment of interim dividend of Rs. 2/- (200%) per equity share and to declare final dividend of Rs. 4/- (400 %) per Equity Share of Rs.1/- each fully paid up for the Financial Year ended 31st March, 2025MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  4. To appoint a Director in place of Mr. Pradeep R. Rathi, Non-Executive Director (DIN: 00018577), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    96.00% for4.00% against

    Against: promoters 0.00% · institutions 13.78% · other public 0.04%

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  5. Ratification of remuneration to Cost Auditors for Financial Year 2025-26
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  6. To approve re-appointment of Mr. Krishnakumar Ramnarayan Boob as Whole Time Director w.e.f. 1st April, 2026
    SpecialPromoters have an interest in it
    92.07% for7.93% against

    Against: promoters 0.00% · institutions 27.35% · other public 0.04%

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  7. To approve re-appointment of Mr. Siddhartha Ashok Sikchi as Whole Time Director w.e.f. 1st April, 2026
    SpecialPromoters have an interest in it
    86.94% for13.06% against

    Against: promoters 0.00% · institutions 45.05% · other public 0.05%

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  8. To approve payment of aggregate annual remuneration in excess of 5% of net profits of the Company in a year collectively to all Executive Directors who are Promoters.
    SpecialPromoters have an interest in it
    87.93% for12.07% against

    Against: promoters 0.00% · institutions 41.63% · other public 0.13%

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

  9. To approve appointment of M/s J. B. Bhave & CO., Company Secretaries for Annual Secretarial Audit and Annual Secretarial Compliance for period of 5 years
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.69% · promoters 100.00% · institutions 76.05% · other public 25.83%

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.

Annual general meeting, 5 Sep 2024, 9 resolutions

Present: 22 promoters and 45 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2024 together with the Report of the Board of Directors and the Auditors thereon;MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2024 together with the Report of the Auditors thereon;
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  3. To confirm payment of interim dividend of Rs. 2/- (200 %) per equity share and to declare final dividend of Rs. 3/- (300 %) per Equity Share of Re.1 each fully paid up for the Financial Year ended 31st March, 2024;MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  4. To appoint a Director in place of Mr. Siddhartha Ashok Sikchi (DIN: 02351154), who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    96.75% for3.25% against

    Against: promoters 0.00% · institutions 34.49% · other public 0.01%

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  5. To appoint M/s. Price Waterhouse Chartered Accountants LLP (FRN -012754N/N500016) nas the Statutory Auditors of the Company.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  6. Ratification of remuneration to Cost Auditors for Financial Year 2024-25
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  7. To approve continuation of employment of Mr. Krishnakumar Ramnarayan Boob, Whole Time Director of the Company, consequent to him attaining the age of 70 years w.e.f. 31st May, 2025.
    SpecialPromoters have an interest in it
    96.25% for3.75% against

    Against: promoters 0.00% · institutions 39.74% · other public 0.01%

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  8. To approve appointment of Mr. Parth Ashok Maheshwari as Whole-Time Director w.e.f 1st August, 2024
    OrdinaryPromoters have an interest in it
    93.67% for6.33% against

    Against: promoters 0.00% · institutions 67.15% · other public 0.01%

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

  9. To approve payment of aggregate annual remuneration in excess of 5% of net profits of the Company in a year collectively to all Executive Directors who are Promoters.
    SpecialPromoters have an interest in it
    96.02% for3.98% against

    Against: promoters 0.00% · institutions 42.16% · other public 0.04%

    Turnout: all 88.46% · promoters 100.00% · institutions 79.51% · other public 35.41%

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, 10 Aug 2023, 6 resolutions

Present: 22 promoters and 55 others.The company's voting result (opens in a new tab)

  1. 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 Report of the Board of Directors and the Auditors thereon; and n(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
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.88% · promoters 100.00% · institutions 74.45% · other public 39.07%

  2. To confirm payment of interim dividend of Rs. 2/- (200%) per equity share and to declare final dividend of Rs.3/- (300%) per Equity Share of Rs.1/- each fully paid up for the Financial Year ended 31st March, 2023.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.88% · promoters 100.00% · institutions 74.45% · other public 39.07%

  3. To appoint a director in place of Mr. Krishnakumar R. Boob (DIN: 00410672), Whole-time Director, who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    96.41% for3.59% against

    Against: promoters 0.00% · institutions 36.75% · other public 0.02%

    Turnout: all 88.88% · promoters 100.00% · institutions 74.45% · other public 39.07%

  4. Ratification of remuneration to M/s. Dhananjay V. Joshi & Associates, Cost Accountants, Pune, Cost Auditors for FY 2023-24.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.88% · promoters 100.00% · institutions 74.45% · other public 39.07%

  5. Modification in Clean Science and Technology Limited -Employees Stock Option Scheme 2021
    Special
    91.52% for8.48% against

    Against: promoters 0.00% · institutions 86.81% · other public 0.02%

    Turnout: all 88.88% · promoters 100.00% · institutions 74.45% · other public 39.07%

  6. Grant of Employee Stock Options to the Eligible Employees of Subsidiary Company(ies) of the Company under “Clean Science and Technology Limited Employee Stock Option Scheme 2021”.
    Special
    91.52% for8.48% against

    Against: promoters 0.00% · institutions 86.81% · other public 0.03%

    Turnout: all 88.88% · promoters 100.00% · institutions 74.45% · other public 39.07%

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, 8 Aug 2022, 4 resolutions

Present: 19 promoters and 60 others.The company's voting result (opens in a new tab)

  1. 1 - To receive, consider and adopt:- n(a) The Audited Standalone Financial Statements for year ended 31st March, 2022 together with the Report of the Board of Directors and Auditors thereon; andn(b) The Audited Consolidated Financial Statements for year ended 31st March, 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 0.00%

    Turnout: all 90.77% · promoters 100.00% · institutions 82.53% · other public 39.76%

  2. 2 - To declare Final Dividend of Rs.3.25 per equity share of Rs.1 each for the year ended 31st March, 2022.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.77% · promoters 100.00% · institutions 82.53% · other public 39.76%

  3. 3 - To appoint a director in place of Mr. Sanjay Kothari (DIN: 00258316), Non-Executive Director, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    96.42% for3.58% against

    Against: promoters 0.00% · institutions 45.29% · other public 0.01%

    Turnout: all 90.77% · promoters 100.00% · institutions 82.53% · other public 39.76%

  4. 4 - Ratification of remuneration to M/s. Dhananjay V. Joshi & Associates, Cost Auditors for FY 2022-23
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 1.83% · other public 0.02%

    Turnout: all 90.77% · promoters 100.00% · institutions 82.53% · other public 39.76%

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.

Postal ballot, 17 Mar 2022, 5 resolutions

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

  1. To consider and approve the modifications in Clean Science and Technology Limited Employee Stock Option Scheme, 2021
    Special
    98.71% for1.29% against

    Against: promoters 0.00% · institutions 14.77% · other public 0.02%

    Turnout: all 90.54% · promoters 100.00% · institutions 86.26% · other public 33.37%

  2. To ratify the Clean Science and Technology Limited Employee Stock Option Scheme, 2021
    Special
    94.28% for5.72% against

    Against: promoters 0.00% · institutions 65.51% · other public 0.02%

    Turnout: all 90.52% · promoters 100.00% · institutions 86.01% · other public 33.37%

  3. To approve continuation of employment of Mr. Ashok Ramnarayan Boob, Managing Director of the Company, consequent to him attaining the age of 70 years w.e.f. 2nd March, 2022
    SpecialPromoters have an interest in it
    99.46% for0.54% against

    Against: promoters 0.00% · institutions 6.13% · other public 0.02%

    Turnout: all 90.54% · promoters 100.00% · institutions 86.26% · other public 33.37%

  4. To approve re-appointment of Mr. Ashok Ramnarayan Boob, as Managing Director of the Company for further term of 5 years w.e.f. from 28th July, 2022
    SpecialPromoters have an interest in it
    99.57% for0.43% against

    Against: promoters 0.00% · institutions 4.94% · other public 0.02%

    Turnout: all 90.54% · promoters 100.00% · institutions 86.26% · other public 33.37%

  5. To approve payment of aggregate annual remuneration in excess of 5% of net profits of the Company in a year collectively to all Executive Directors who are Promoters.
    SpecialPromoters have an interest in it
    99.57% for0.43% against

    Against: promoters 0.00% · institutions 4.94% · other public 0.03%

    Turnout: all 90.54% · promoters 100.00% · institutions 86.26% · other public 33.37%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

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

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the Report of the Board of Directors and the Auditors thereonMoreLess
    8 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the Report of the Auditors thereon
    8 for0 against
  • To confirm payment of interim dividend of Rs. 2/- (200%) per equity share and to declare final dividend of Rs. 4/- (400 %) per Equity Share of Re.1/- each fully paid up for the Financial Year ended 31st March, 2026MoreLess
    8 for0 against
  • To appoint a director in place of Mr. Krishnakumar Ramnarayan Boob, Whole-Time Director (DIN:00410672), who retires by rotation and being eligible, offers himself for re-appointment
    8 for0 against
  • Ratification of remuneration to Cost Auditors for Financial Year 2026-27
    8 for0 against
  • To approve appointment of Mr. Krishnakumar Satyanarain Saboo (DIN:11863005) as Whole-Time Director for a period of five (5) years commencing from 1st August, 2026 up to 31st July, 2031
    8 for0 against
  • To Consider and Approve, payment of Commission to Non-Executive Director(S) for the Financial Year 2026-27
    8 for0 against

Mutual fund votes, meeting of 16 Dec 2025, 18 fund houses

  • To approve continuation of directorship of Ms. Madhu Dubhashi (DIN:00036846) as a Non-executive Independent Director of the Company, consequent to attaining the age of 75 years w.e.f. 6thFebruary, 2026 up to the expiry of her current term i.e.,19th February, 2026.MoreLess
    18 for0 against
  • To approve re-appointment of Mr. Keval Navinchandra Doshi (DIN:03635213) as a Non-executive Independent Director of the Company for further period of 5 (five) consecutive years w.e.f. 6th February 2026 up to 5th February 2031.MoreLess
    18 for0 against
  • To approve appointment of Mr. Raj Kamal (DIN:01083088) as a Non-executive Independent Director of the Company for a period of 5 (five) consecutive years commencing from 6th November, 2025 to 5th November, 2030.MoreLess
    18 for0 against
  • To approve appointment of Ms. Pallavi Gokhale (DIN:00036369) as a non-executive Independent Director of the Company for period of 5 (five) consecutive years commencing from 6th November, 2025 to 5th November, 2030.MoreLess
    18 for0 against
  • To approve change in the designation of Mr. Ashok Ramnarayan Boob (DIN:00410740) from Managing Director to Whole Time Director - Executive Vice Chairman w.e.f. from 1st April, 2026 up to 27th July, 2027.MoreLess
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance Concern: No absolute cap on Variable Component – Variable Component payable to the Promoter Executive Directors has been fixed relatively with the Net Profit; exorbitant amount may be attributed to a Director if the Profit increases significantly, and there is no absolute cap to curb such instances.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: No absolute cap on Variable Component – Variable Component payable to the Promoter EDs has been fixed relatively with the Net Profit; exorbitant amount may be attributed to a Director if the Profit increases significantly, and there is no absolute cap to curb such instances.
    14 for4 against
  • To approve change in the designation of Mr. Siddhartha Ashok Sikchi (DIN:02351154), from Whole Time Director to Managing Director of the Company w.e.f. from 1st April, 2026 up to 31st March, 2031.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundGovernance Concern: No absolute cap on Variable Component – Variable Component payable to the Promoter Executive Directors has been fixed relatively with the Net Profit; exorbitant amount may be attributed to a Director if the Profit increases significantly, and there is no absolute cap to curb such instances.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: No absolute cap on Variable Component – Variable Component payable to the Promoter EDs has been fixed relatively with the Net Profit; exorbitant amount may be attributed to a Director if the Profit increases significantly, and there is no absolute cap to curb such instances.
    • Bank of India Mutual Fund, Jio BlackRock Mutual FundSiddhartha Ashok Sikchi, 44, is promoter and Whole time Director. He has been associated with the company since December 2006. He has over two decades of experience in the speciality chemical industry. He is responsible for R&D, new projects, business development, quality systems and information technology.He received Rs. 85.5 mn in FY25, we estimate his FY26 compensation at Rs. 89.6 mn and FY27 compensation at Rs. 101.2 mn. His compensation structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their fixed salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay. We expect the company to cap the remuneration in absolute terms. We raise concern that there are four promoter executive directors on the board, total promoter executive remuneration was Rs. 255.0 mn, 6.5% of standalone PBT and 45.2% of consolidated employee benefit expenses, which is high. We raise concerns about basis and methodology used for remuneration benchmarking; his remuneration appears significantly higher than that of other, more experienced members of the Board. While we support his redesignation, given the uncapped nature, unclear structure and high level of remuneration compared to company size, we do not support the remuneration. We do not support the resolution.
    • Invesco Mutual FundSiddhartha Ashok Sikchi, 44, is promoter and Whole time Director. He has been associated with the company since December 2006. He has over two decades of experience in the speciality chemical industry. He is responsible for R&D, new projects, business development, quality systems and information technology. He received Rs. 85.5 mn in FY25, we estimate his FY26 compensation at Rs. 89.6 mn and FY27 compensation at Rs. 101.2 mn. His compensation structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their fixed salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay. We expect the company to cap the remuneration in absolute terms. We raise concern that there are four promoter executive directors on the board, total promoter executive remuneration was Rs. 255.0 mn, 6.5% of standalone PBT and 45.2% of consolidated employee benefit expenses, which is high. We raise concerns about basis and methodology used for remuneration benchmarking; his remuneration appears significantly higher than that of other, more experienced members of the Board. While we support his redesignation, given the uncapped nature, unclear structure and high level of remuneration compared to company size, we do not support the remuneration. We do not support the resolution. This is in line with our ESG framework.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    • Nippon India Mutual FundGovernance Concern: No absolute cap on variable pay for Promoter EDs, tied only to net profit—risks exorbitant payouts if profits surge, without curbs, breaching managerial remuneration limits under Companies Act 2013.
    8 for10 against
5 earlier meetings

Mutual fund votes, meeting of 11 Sep 2025, 19 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Report of the Board of Directors and the Auditors thereonMoreLess
    19 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Report of the Auditors thereon
    19 for0 against
  • To confirm payment of interim dividend of Rs. 2/- (200%) per equity share and to declare final dividend of Rs. 4/- (400 %) per Equity Share of Rs.1/- each fully paid up for the Financial Year ended 31st March, 2025MoreLess
    19 for0 against
  • To appoint a Director in place of Mr. Pradeep R. Rathi, Non-Executive Director (DIN: 00018577), who retires by rotation and being eligible, offers himself for re-appointment
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance concern: Chairman related to Executive Director as this may lead to concentration of power in the hands of single family; Nomination & Remuneration Committee member and Skewed remuneration.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed director. Governance concern: Chairman related to Executive Director as this may lead to concentration of power in the hands of single family; NRC member and Skewed remuneration.
    15 for4 against
  • Ratification of remuneration to Cost Auditors for Financial Year 2025-26
    19 for0 against
  • To approve re-appointment of Mr. Krishnakumar Ramnarayan Boob as Whole Time Director w.e.f. 1st April, 2026
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, UTI Mutual Fund
    • Angel One Mutual FundGovernance concern: Fixed % of variable pay & no absolute cap on variable pay.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Fixed % of variable pay & no absolute cap on variable pay.
    • UTI Mutual FundKrishnakumar R. Boob, 70, is promoter and Whole time Director. He has been associated with the company since incorporation. He received Rs. 57.3 mn in FY25, we estimate his annual compensation at Rs. 60.1 mn. While we support his reappointment, the overall promoter remuneration is exceeding our internal threshold limit. We don't support the resolution.
    13 for6 against
  • To approve re-appointment of Mr. Siddhartha Ashok Sikchi as Whole Time Director w.e.f. 1st April, 2026
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundGovernance concern: Fixed % of variable pay & no absolute cap on variable pay; Skewed Remuneration.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Fixed % of variable pay & no absolute cap on variable pay; Skewed Remuneration
    • Bank of India Mutual FundSiddhartha A. Sikchi, 43, is promoter and Whole time Director. He has been associated with the company since December 2006. He has attended all four (100%) board meetings held in FY25.He received Rs. 85.5 mn in FY25, we estimate his annual compensation at Rs. 89.6 mn. His compensation structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay. We expect the company to cap the remuneration in absolute terms. We raise concern that there are four promoter executive directors on the board, total promoter executive remuneration was Rs. 255.0 mn, 6.5% of standalone PBT and 45.2% of consolidated employee benefit expenses, which is high.We raise concerns about basis and methodology used for remuneration benchmarking; his remuneration appears significantly higher than that of other, more experienced members of the Board.Given the uncapped nature, unclear structure and high level of remuneration compared to company size, we do not support the remuneration. We do not support the resolution.
    • Invesco Mutual FundSiddhartha A. Sikchi, 43, is promoter and Whole time Director. He has been associated with the company since December 2006. He has attended all four (100%) board meetings held in FY25. He received Rs. 85.5 mn in FY25, we estimate his annual compensation at Rs. 89.6 mn. His compensation structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay. We expect the company to cap the remuneration in absolute terms. We raise concern that there are four promoter executive directors on the board, total promoter executive remuneration was Rs. 255.0 mn, 6.5% of standalone PBT and 45.2% of consolidated employee benefit expenses, which is high. We raise concerns about basis and methodology used for remuneration benchmarking; his remuneration appears significantly higher than that of other, more experienced members of the Board. Given the uncapped nature, unclear structure and high level of remuneration compared to company size, we do not support the remuneration. We do not support the resolution. This is in line with our ESG framework.
    • Jio BlackRock Mutual FundSiddhartha A. Sikchi, 43, is promoter and Whole time Director. He has been associated with the company since December 2006. He has attended all four (100%) board meetings held in FY25. He received Rs. 85.5 mn in FY25, we estimate his annual compensation at Rs. 89.6 mn. His compensation structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay. We expect the company to cap the remuneration in absolute terms. We raise concern that there are four promoter executive directors on the board, total promoter executive remuneration was Rs. 255.0 mn, 6.5% of standalone PBT and 45.2% of consolidated employee benefit expenses, which is high. We raise concerns about basis and methodology used for remuneration benchmarking; his remuneration appears significantly higher than that of other, more experienced members of the Board. Given the uncapped nature, unclear structure and high level of remuneration compared to company size, we do not support the remuneration. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    • Nippon India Mutual FundGovernance concern: Fixed % of variable pay & no absolute cap on variable pay; Skewed Remuneration
    8 for11 against
  • To approve payment of aggregate annual remuneration in excess of 5% of net profits of the Company in a year collectively to all Executive Directors who are Promoters.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund
    • Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: No absolute upper cap has been placed on the remuneration.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: No absolute upper cap has been placed on the remuneration.
    • Bank of India Mutual Fund, Jio BlackRock Mutual FundThe approval is valid till the respective term of the directors. We believe the company must disclose the granular details/ targets for the performance metrics that determine the variable pay and cap the performance bonus in absolute amounts. We estimate FY26 promoter remuneration to aggregate Rs. 276.4 mn. In FY25, the total promoter remuneration aggregated Rs. 255.0 mn, including performance bonus at 4% of profits, which was 7.1% of the consolidated PBT. We raise concerns that the aggregate promoter remuneration could be higher since the increase in basic pay for thee of the four executive directors could be increased at the discretion of the NRC. The proposed resolution does not cap the aggregate promoter remuneration is absolute amount. Further, the aggregate promoter remuneration for FY25 was 45.2% of consolidated employee benefits expenses, which is high. We do not support the resolution.
    • Invesco Mutual FundThe approval is valid till the respective term of the directors. We believe the company must disclose the granular details/ targets for the performance metrics that determine the variable pay and cap the performance bonus in absolute amounts. We estimate FY26 promoter remuneration to aggregate Rs. 276.4 mn. In FY25, the total promoter remuneration aggregated Rs. 255.0 mn, including performance bonus at 4% of profits, which was 7.1% of the consolidated PBT. We raise concerns that the aggregate promoter remuneration could be higher since the increase in basic pay for thee of the four executive directors could be increased at the discretion of the NRC. The proposed resolution does not cap the aggregate promoter remuneration is absolute amount. Further, the aggregate promoter remuneration for FY25 was 45.2% of consolidated employee benefits expenses, which is high. We do not support the resolution. This is in line with our ESG framework.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    • UTI Mutual FundThe aggregate promoter family remuneration is exceeding our internal threshold limit. We don't support the resolution.
    7 for12 against
  • To approve appointment of M/s J. B. Bhave & CO., Company Secretaries for Annual Secretarial Audit and Annual Secretarial Compliance for period of 5 years
    19 for0 against

Mutual fund votes, meeting of 5 Sep 2024, 13 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2024 together with the Report of the Board of Directors and the Auditors thereon;MoreLess
    13 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2024 together with the Report of the Auditors thereon;
    13 for0 against
  • To confirm payment of interim dividend of Rs. 2/- (200 %) per equity share and to declare final dividend of Rs. 3/- (300 %) per Equity Share of Re.1 each fully paid up for the Financial Year ended 31st March, 2024;MoreLess
    13 for0 against
  • To appoint a Director in place of Mr. Siddhartha Ashok Sikchi (DIN: 02351154), who retires by rotation and being eligible, offers himself for re-appointment.
    13 for0 against
  • To appoint M/s. Price Waterhouse Chartered Accountants LLP (FRN -012754N/N500016) nas the Statutory Auditors of the Company.
    13 for0 against
  • Ratification of remuneration to Cost Auditors for Financial Year 2024-25
    13 for0 against
  • To approve continuation of employment of Mr. Krishnakumar Ramnarayan Boob, Whole Time Director of the Company, consequent to him attaining the age of 70 years w.e.f. 31st May, 2025.
    13 for0 against
  • To approve appointment of Mr. Parth Ashok Maheshwari as Whole-Time Director w.e.f 1st August, 2024
    Against Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund
    • Axis Mutual FundParth Maheshwari, 32, is the son of Ashok R. Boob, the Managing Director and promoter. Prior to appointment as Whole-time Director, he was President- Projects and Operations. With the appointment of Parth Maheshwari, the board will comprise of four promoter executive directors, which is high for the size of business. With just about 8 years of work experience, we believe Parth Maheshwari does not have adequate experience to hold an executive directorship of a listed company. In FY24, he was paid Rs. 7.7 mn as President – projects and operations. We estimate Parth’s remuneration as a WTD for FY25 at Rs. 24.3 mn. It is unclear how the company has benchmarked his remuneration given his level of experience. His remuneration structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay, and there is no cap on the increase in his basic salary is at the discretion of the board.
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment complaint with law. No concerns on merit/ profile/ eligibility of appointee. Governance concern: No absolute cap on variable pay.
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    • ICICI Prudential Mutual FundMr. Parth Ashok Maheshwari is promoter’s son who is proposed to be appointed as whole time director post which remuneration structure will include a performance pay component computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay. Also increase in his basic salary is at the discretion of the board. Hence, the AMC has voted against the resolution.
    • Invesco Mutual FundParth Maheshwari, 32, is the son of Ashok R. Boob, the Managing Director and promoter. Prior to appointment as Whole-time Director, he was President- Projects and Operations. With the appointment of Parth Maheshwari, the board will comprise of four promoter executive directors, which is high for the size of business. With just about 8 years of work experience, we believe Parth Maheshwari does not have adequate experience to hold an executive directorship of a listed company. In FY24, he was paid Rs. 7.7 mn as President – projects and operations. We estimate Parth’s remuneration as a WTD for FY25 at Rs. 24.3 mn. It is unclear how the company has benchmarked his remuneration given his level of experience. His remuneration structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay, and there is no cap on the increase in his basic salary is at the discretion of the board This is in line with our ESG framework
    • Nippon India Mutual FundNo absolute cap on variable pay.
    • Sundaram Mutual Fund"Parth Maheshwari, 32, is the son of Ashok R. Boob, the Managing Director and promoter. Prior to appointment as Whole-time Director, he was President- Projects and Operations. With the appointment of Parth Maheshwari, the board will comprise of four promoter executive directors, which is high for the size of business. With just about 8 years of work experience, we believe Parth Maheshwari does not have adequate experience to hold an executive directorship of a listed company. In FY24, he was paid Rs. 7.7 mn as President – projects and operations. We estimate Parth’s remuneration as a WTD for FY25 at Rs. 24.3 mn. It is unclear how the company has benchmarked his remuneration given his level of experience. His remuneration structure includes a performance pay component which is computed at 4% of net profits for all executive directors and apportioned amongst them in the proportion of their salary. There is no cap on the quantum of variable pay or clarity regarding the performance metrics which determine his variable pay, and there is no cap on the increase in his basic salary is at the discretion of the board."
    3 for10 against
  • To approve payment of aggregate annual remuneration in excess of 5% of net profits of the Company in a year collectively to all Executive Directors who are Promoters.
    Against Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund
    • Axis Mutual Fund, Sundaram Mutual FundThe approval is valid till the respective term of the directors. We believe the company must disclose the granular details/ targets for the performance metrics that determine the variable pay and cap the performance bonus in absolute amounts. We estimate FY25 promoter remuneration to aggregate Rs. 245.0 mn. In FY24, the total promoter remuneration aggregated Rs. 215.0 mn, including performance bonus at 4% of profits, which was 6.6% of the consolidated PBT. We raise concerns that the aggregate promoter remuneration could be higher since the increase in basic pay for three of the four executive directors could be increased at the discretion of the NRC. The proposed resolution does not cap the aggregate promoter remuneration is absolute amount. Further, the aggregate promoter remuneration for FY24 was 44% of consolidated employee benefits expenses, which is high.
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundCompliant with Law. Governance concern: No absolute cap has been placed on the remuneration
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    • ICICI Prudential Mutual FundThe proposed resolution does not cap the aggregate promoter remuneration in absolute amount. In FY2024, the total promoter remuneration aggregated ` 215.0 million, including performance bonus at 4% of profits, which was 6.6% of the consolidated Profit Before Tax (PBT). Further, the aggregate promoter remuneration for FY2024 was 44% of consolidated employee benefits expenses. Hence, the AMC has voted against the resolution.
    • Invesco Mutual FundThe approval is valid till the respective term of the directors. We believe the company must disclose the granular details/ targets for the performance metrics that determine the variable pay and cap the performance bonus in absolute amounts. We estimate FY25 promoter remuneration to aggregate Rs. 245.0 mn. In FY24, the total promoter remuneration aggregated Rs. 215.0 mn, including performance bonus at 4% of profits, which was 6.6% of the consolidated PBT. We raise concerns that the aggregate promoter remuneration could be higher since the increase in basic pay for three of the four executive directors could be increased at the discretion of the NRC. The proposed resolution does not cap the aggregate promoter remuneration is absolute amount. Further, the aggregate promoter remuneration for FY24 was 44% of consolidated employee benefits expenses, which is high This is in line with our ESG framework
    3 for10 against

Mutual fund votes, meeting of 10 Aug 2023, 13 fund houses

  • 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 Report of the Board of Directors and the Auditors thereon; and n(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 confirm payment of interim dividend of Rs. 2/- (200%) per equity share and to declare final dividend of Rs.3/- (300%) per Equity Share of Rs.1/- each fully paid up for the Financial Year ended 31st March, 2023.MoreLess
    13 for0 against
  • To appoint a director in place of Mr. Krishnakumar R. Boob (DIN: 00410672), Whole-time Director, who retires by rotation and being eligible, offers himself for re-appointment.
    13 for0 against
  • Ratification of remuneration to M/s. Dhananjay V. Joshi & Associates, Cost Accountants, Pune, Cost Auditors for FY 2023-24.
    13 for0 against
  • Modification in Clean Science and Technology Limited -Employees Stock Option Scheme 2021
    Against Axis Mutual Fund, Edelweiss Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund
    • Axis Mutual Fund, Sundaram Mutual FundThe company proposes to expand the size of the scheme to 350,000 options and extend the scheme to employees of its subsidiaries. The Nomination and Remuneration Committee ultimately has the discretion to decide the exercise price. The last grant on 5 September 2022 was at a discount of ~35% to the closing market price. We do not support stock option plans which are at a significant discount i.e. of over 20% discount to the market price as on date of grant. While we understand the company’s need to increase the pool size and requirement to extend the scheme to employees of subsidiaries, we do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. Therefore, we do not support the modification to the scheme.
    • Edelweiss Mutual FundAdequate info not given
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Invesco Mutual FundThe company proposes to expand the size of the scheme to 350,000 options and extend the scheme to employees of its subsidiaries. The Nomination and Remuneration Committee ultimately has the discretion to decide the exercise price. The last grant on 5 September 2022 was at a discount of ~35% to the closing market price. We do not support stock option plans which are at a significant discount i.e. of over 20% discount to the market price as on date of grant. While we understand the company’s need to increase the pool size and requirementto extend the scheme to employees of subsidiaries, we do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. Therefore, we do not support the modification to the scheme
    • Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundNon-Compliant with SEBI SBEB and SE Regulations, 2021. Non-disclosure of exact Exercise Price/ Pricing Formula.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundInadequate disclosure
    3 for10 against
  • Grant of Employee Stock Options to the Eligible Employees of Subsidiary Company(ies) of the Company under “Clean Science and Technology Limited Employee Stock Option Scheme 2021”.
    Against Axis Mutual Fund, Edelweiss Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund
    • Axis Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundOur views on this resolution are linked to our views on Resolution #5.
    • Edelweiss Mutual FundAdequate info not given
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundNon-Compliant with SEBI SBEB and SE Regulations, 2021. Non-disclosure of exact Exercise Price/ Pricing Formula.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundInadequate disclosure
    3 for10 against

Mutual fund votes, meeting of 8 Aug 2022, 11 fund houses

  • 1 - To receive, consider and adopt:- n(a) The Audited Standalone Financial Statements for year ended 31st March, 2022 together with the Report of the Board of Directors and Auditors thereon; andn(b) The Audited Consolidated Financial Statements for year ended 31st March, 2022 together with the Report of the Auditors thereon.nMoreLess
    11 for0 against
  • 2 - To declare Final Dividend of Rs.3.25 per equity share of Rs.1 each for the year ended 31st March, 2022.
    11 for0 against
  • 3 - To appoint a director in place of Mr. Sanjay Kothari (DIN: 00258316), Non-Executive Director, who retires by rotation and being eligible, offers himself for re-appointment.
    11 for0 against
  • 4 - Ratification of remuneration to M/s. Dhananjay V. Joshi & Associates, Cost Auditors for FY 2022-23
    11 for0 against

Mutual fund votes, meeting of 17 Mar 2022, 9 fund houses

  • To consider and approve the modifications in Clean Science and Technology Limited Employee Stock Option Scheme, 2021
    Against Bandhan Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual FundNon-Compliant with SEBI SBEB and SE Regulations, 2021. Non-disclosure of exact Exercise Price/ Pricing Formula.
    • Kotak Mahindra Mutual FundLack of disclosure. Information with regards to exercise price not given.
    • Nippon India Mutual FundInadequate disclosure
    6 for3 against
  • To ratify the Clean Science and Technology Limited Employee Stock Option Scheme, 2021
    Against Axis Mutual Fund, Bandhan Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual FundUnder the scheme, 100,000 options were proposed to be granted, of which 44,148 options are available for grant. The company has clarified that the pre-IPO stock options were granted at a discount of ~44% to the listing price. Further, it has also clarified that they expect the remaining stock options to be granted at a discount of ~35% to the market price: notwithstanding, the Nomination and Remuneration Committee has the discretion to decide the final discount. We do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price.
    • Bandhan Mutual FundNon-Compliant with SEBI SBEB and SE Regulations, 2021. Non-disclosure of exact Exercise Price/ Pricing Formula.
    • HDFC Mutual FundESOPs are being granted at a significant discount to market price
    • Kotak Mahindra Mutual FundLack of disclosure. Information with regards to exercise price not given.
    • Nippon India Mutual FundInadequate disclosure
    4 for5 against
  • To approve continuation of employment of Mr. Ashok Ramnarayan Boob, Managing Director of the Company, consequent to him attaining the age of 70 years w.e.f. 2nd March, 2022
    Against Bandhan Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual FundNon-Compliant with Law. Delay approval for continuation of employment
    • Nippon India Mutual FundShareholder's approval not obtained on time for reappointment of director
    7 for2 against
  • To approve re-appointment of Mr. Ashok Ramnarayan Boob, as Managing Director of the Company for further term of 5 years w.e.f. from 28th July, 2022
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundGovernance concern: No absolute cap has been placed on the remuneration, discretion given to Board
    8 for1 against
  • To approve payment of aggregate annual remuneration in excess of 5% of net profits of the Company in a year collectively to all Executive Directors who are Promoters.
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundGovernance concern: No absolute cap has been placed on the remuneration, discretion given to Board
    8 for1 against

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

Tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Sep 2026.

  • Unlisted stake boughtClean Fino-Chem LimitedSince 23 Sep 2026

    100.00% bought in the quarter; holding 100.00%, from 0.00%

  • Tax disputeCommissioner of Income Tax (Appeals)Since 15 Jul 2021
    Department issued the notice on 21.04.2022, We submitted the data on 26.04.2022 by mentioning various case laws. In meantime Company Paid Rs 7,04,648/-dt 13.10.2022 for stay of demand (I.e 20% of Rs .35,23,240/-), Stay of demand copy received from income tax on 16.02.2023 and valid upto the date of disposal.MoreLess
    At the filing before: Ongoing
  • Tax disputeCommissioner of Income Tax (Appeals)Since 29 Jul 2021
    The officer disallowed 2 points viz, amortization of leasehold land Rs 9,94,644 & CSR (80G deduction) Rs 1,78,51,000/- company filled appeal along with form no. 35 on 22th Oct 2022, and paid Rs. 9,39,987/-(i.e 20% on Tax demand of Rs 46,94,934/-) as pre-deposit. Received stay order copy dated 11.07.2026 & valid upto 31.03.2027MoreLess
    At the filing before: Ongoing
  • Tax disputeThe Commissioner Custom & Central Excise (Appeal), ballard estate MumbaiSince 23 Apr 2014
    Appeal file on 23.10.2019. No further notice received
    At the filing before: Ongoing

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

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.