Dishman Carbogen Amcis MD, chairman, board of directors and AGM
NSE: DCALBSE: 540701Pharmaceuticals & BiotechnologySmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹140.02.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹2,137 Cr979th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 14 Aug 2026
- 132.2
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹2.84 crore of one-off items, the largest of them in the quarter to Jun 2026.
- 112.5
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 19 May 2026
- 0.3
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 14 Aug 2026
- 0.3%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹2.84 crore of one-off items, the largest of them in the quarter to Jun 2026.
- 0.3%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 14 Aug 2026
- 1.4%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 19 May 2026
- 0.42
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,33,18144.3% delivered
Dishman Carbogen Amcis board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Managing directorArpit Janmejay Vyas
- Company Secretary and Compliance OfficerSHRIMA DAVE
6 directors3 independent2 executive1 non-executive
- Deohooti Janmejay VyasExecutive · joined Sep 2016 · reappointed Sep 2021 · 1 listed board
- Arpit Janmejay Vyas · Managing directorExecutive · joined Jun 2014 · reappointed Jun 2024 · 1 listed board · 1 committee seat
- Dhaval Rameshchandra ShahNon-executive · joined Aug 2025 · 1 listed board
- Kulin Nalinkant ShahIndependent · joined Nov 2024 · 19 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Hemantkumar Jayantiprasad BhattIndependent · joined Apr 2025 · 15 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
- Margie ParikhIndependent · joined Apr 2025 · 15 months as independent · 1 listed board · 1 as independent · 1 committee seat
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
- Vyas Janmejay R, left 27 May 2025: Others
- Shah Rajendra Shantilal, left 2 Apr 2025: Tenure Completion
- Maitri K Mehta, left 1 Apr 2025: Others
- Subir Kumar Das, left 15 Dec 2024: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 19 May 20266 of 6 present3 independent · 61 days in between
- 18 Mar 20266 of 6 present3 independent · 42 days in between
- 3 Feb 20266 of 6 present3 independent
Audit Committee
Chair Hemantkumar Jayantiprasad Bhatt
Kulin Nalinkant Shah, Margie Parikh
- 19 May 20263 of 3 present3 independent · 104 days in between
- 3 Feb 20263 of 3 present3 independent
Nomination and remuneration committee
Chair Hemantkumar Jayantiprasad Bhatt
Kulin Nalinkant Shah, Margie Parikh
- 19 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair Hemantkumar Jayantiprasad Bhatt
Kulin Nalinkant Shah, Arpit Janmejay Vyas
- 19 May 20263 of 3 present2 independent · 104 days in between
- 3 Feb 20263 of 3 present2 independent
Risk Management Committee
Chair Arpit Janmejay Vyas
Harshil Ramakant Dalal, Hemantkumar Jayantiprasad Bhatt
- 30 Apr 20262 of 2 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.
- T R CHADHA & CO. LLPPeer-review certificate valid to Sep 2028
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Dishman Carbogen Amcis 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.Dishman Carbogen Amcis dividend history
Annual general meeting, 30 Sep 2026
50,113 shareholders on the register on 23 Sep 2026; present: 5 promoters and 53 others; votes counted by Ashok P. Pathak / Ashok P. Pathak & Co..The company's voting result (opens in a new tab)
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2026 and report of the Board of Directors and Auditors thereon.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.46%
Turnout: all 67.69% · promoters 99.99% · institutions 87.97% · other public 2.52%
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2026 and the report of the Auditors thereon.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.46%
Turnout: all 67.73% · promoters 99.99% · institutions 88.39% · other public 2.52%
- Reso. No. 2: Re-appointment of a Director Mr. Arpit J. Vyas (DIN 01540057), who retires by rotation.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.51%
Turnout: all 67.73% · promoters 99.99% · institutions 88.39% · other public 2.52%
Reso. No. 3: Re-appointment of M/s. T R Chadha & Co. LLP, Chartered Accountants for a second term of five consecutive years commencing from the Financial Years 2026-27 to 2030-31 as Statutory Auditors of the company and to fix their remunerationMoreLess
Ordinary99.94% for0.06% againstAgainst: promoters 0.00% · institutions 0.44% · other public 0.50%
Turnout: all 67.73% · promoters 99.99% · institutions 88.39% · other public 2.52%
- Reso. No. 4: Payment of Remuneration by way of commission to Non-Executive Directors (including Independent Directors) for the financial year 2026-2027 to the financial year 2028-2029.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.61%
Turnout: all 65.24% · promoters 99.99% · institutions 59.52% · other public 2.52%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 19 Jun 2026, 2 resolutions
50,184 shareholders on the register on 12 Jun 2026; present: 5 promoters and 34 others; votes counted by Ashok P. Pathak / Ashok P. Pathak & Co..The company's voting result (opens in a new tab)
- Increase in Borrowing Limits pursuant to Section 180(1)(C) of the Companies Act, 2013.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 74.88% · promoters 99.99% · institutions 87.17% · other public 23.73%
- Approval for availing loan from Aamanya AG, Promoter Group Entity under External Commercial Borrowings ("ECB") route as a Material Related Party Transaction.OrdinaryPromoters have an interest in it98.61% for1.39% against
Against: promoters 0.00% · institutions 2.67% · other public 0.01%
Turnout: all 15.56% · promoters 0.00% · institutions 87.17% · other public 23.73%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 29 Sep 2025, 4 resolutions
49,964 shareholders on the register on 22 Sep 2025; present: 5 promoters and 49 others; votes counted by Ashok P. Pathak / Ashok P. Pathak & Co..The company's voting result (opens in a new tab)
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2025 and report of the Board of Directors and Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 68.43% · promoters 99.99% · institutions 87.21% · other public 2.24%
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2025 and the report of the Auditors thereon.Ordinary99.69% for0.31% against
Against: promoters 0.00% · institutions 2.48% · other public 0.01%
Turnout: all 68.47% · promoters 99.99% · institutions 87.58% · other public 2.24%
- Reso. No. 2: Re-appointment of a Director Mrs. Deohooti J. Vyas (DIN 00004876), who retires by rotation.Ordinary99.87% for0.13% against
Against: promoters 0.00% · institutions 1.07% · other public 0.11%
Turnout: all 68.47% · promoters 99.99% · institutions 87.58% · other public 2.24%
Reso. No. 3: Appointment of M/S. Ashok P. Pathak & Co., Practicing Company Secretaries for a term of five consecutive years commencing from the Financial Years 2025-26 to 2029-30 as Secretarial AuditorMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 63.46% · promoters 99.99% · institutions 35.66% · other public 2.24%
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, 19 Sep 2025, 5 resolutions
49,631 shareholders on the register on 8 Aug 2025; votes counted by Ashok P. Pathak / Ashok P. Pathak & Co..The company's voting result (opens in a new tab)
- Approval for increasing Authorised Share Capital of the Company as per provisions of Companies Act, 2013Ordinary99.99% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 2.29%
Turnout: all 65.37% · promoters 99.99% · institutions 52.25% · other public 1.43%
- Approval for Alteration of Capital Clause of Memorandum of Association Company as per provisions of Companies Act, 2013Special99.99% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 2.29%
Turnout: all 65.37% · promoters 99.99% · institutions 52.25% · other public 1.43%
Approval for raising of funds by way of issue of equity shares or any other eligible securities through any or all of various methods including by way of preferential issue, qualified institutions placement or any other method as may be permissibleMoreLess
Special95.62% for4.38% againstAgainst: promoters 0.00% · institutions 50.75% · other public 2.32%
Turnout: all 65.37% · promoters 99.99% · institutions 52.25% · other public 1.41%
- Approval for re-appointment of Mrs. Deohooti J. Vyas (DIN 00004876) as a Whole-time Director and payment of remuneration to her for further period of five years w.e.f. 3rd September, 2026Special99.76% for0.24% against
Against: promoters 0.00% · institutions 2.49% · other public 4.45%
Turnout: all 65.37% · promoters 99.99% · institutions 52.25% · other public 1.43%
- Confirmation of the appointment of Mr. Dhaval Rameshchandra Shah (DIN – 09385325), as a Non-Executive and Non-Independent DirectorOrdinary99.52% for0.48% against
Against: promoters 0.00% · institutions 5.33% · other public 3.26%
Turnout: all 65.37% · promoters 99.99% · institutions 52.25% · other public 1.41%
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.
Postal ballot, 25 Jun 2025, 2 resolutions
51,717 shareholders on the register on 16 May 2025; votes counted by Ashok P. Pathak / Ashok P. Pathak & Co..The company's voting result (opens in a new tab)
- Confirmation of the appointment of Dr. Margie Sunil Parikh (DIN – 07056179), as an Independent Director for a first term of five consecutive years w.e.f. 1st April, 2025Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.28%
Turnout: all 69.25% · promoters 99.99% · institutions 89.92% · other public 0.96%
- Confirmation of the appointment of Mr. Hemantkumar J. Bhatt (DIN: 02657432), as an Independent Director for a first term of five consecutive years w.e.f. 1st April, 2025Special99.82% for0.18% against
Against: promoters 0.00% · institutions 1.31% · other public 0.17%
Turnout: all 69.25% · promoters 99.99% · institutions 89.92% · other public 0.96%
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, 31 Jan 2025, 2 resolutions
54,195 shareholders on the register on 20 Dec 2024; votes counted by Ashok P. Pathak / Ashok P. Pathak & Co..The company's voting result (opens in a new tab)
- Confirmation of the appointment of Mr. Kulin N. Shah (DIN – 01863481), as an Independent Director for a first term of five consecutive yearsSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 1.55%
Turnout: all 68.88% · promoters 99.99% · institutions 92.46% · other public 0.45%
- Approval for alteration of Object Clause of Memorandum of Association as per provisions of Companies Act, 2013Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.13%
Turnout: all 68.88% · promoters 99.99% · institutions 92.46% · other public 0.45%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 27 Sep 2024, 4 resolutions
Present: 6 promoters and 41 others.The company's voting result (opens in a new tab)
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2024 and report of the Board of Directors and Auditors thereon.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 7.82%
Turnout: all 68.12% · promoters 99.99% · institutions 91.89% · other public 0.46%
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2024 and the report of the Auditors thereon.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 7.82%
Turnout: all 68.12% · promoters 99.99% · institutions 91.89% · other public 0.46%
- Reso. No. 2: Re-appointment of a Director Mr. Arpit J. Vyas (DIN 01540057), who retires by rotation.Ordinary99.85% for0.15% against
Against: promoters 0.00% · institutions 1.01% · other public 8.60%
Turnout: all 68.16% · promoters 99.99% · institutions 92.27% · other public 0.46%
Reso. No. 3: Payment of remuneration pursuant to Regulation 17(6)(ca) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to Mr. Janmejay R. Vyas (DIN:00004730), Director of the Company for rendering professional service to the Company for the Financial Year 2024-25.MoreLess
Special96.75% for3.25% againstAgainst: promoters 0.00% · institutions 25.28% · other public 10.33%
Turnout: all 68.16% · promoters 99.99% · institutions 92.27% · other public 0.46%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 27 Sep 2023, 7 resolutions
Present: 6 promoters and 46 others.The company's voting result (opens in a new tab)
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2023 and report of the Board of Directors and Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 1.56%
Turnout: all 67.05% · promoters 100.00% · institutions 62.09% · other public 0.37%
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2023 and the report of the Auditors thereon.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.03% · other public 1.56%
Turnout: all 67.05% · promoters 100.00% · institutions 62.09% · other public 0.37%
- Reso. No. 2: Re-appointment of a Director Mr. Janmejay R. Vyas (DIN 00004730), who retires by rotation.Ordinary92.05% for7.95% against
Against: promoters 0.00% · institutions 68.98% · other public 38.44%
Turnout: all 67.10% · promoters 100.00% · institutions 62.50% · other public 0.37%
Reso. No. 3: Payment of remuneration pursuant to Regulation 17(6)(ca) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to Mr. Janmejay R. Vyas (DIN:00004730), Director of the Company for rendering professional service to the Company for the Financial Year 2023-24.MoreLess
Special96.40% for3.60% againstAgainst: promoters 0.00% · institutions 30.99% · other public 38.52%
Turnout: all 67.10% · promoters 100.00% · institutions 62.50% · other public 0.37%
- Reso. No. 4: Payment of Remuneration by way of commission to Non-Executive Directors (including Independent Directors) for the financial year 2023-2024 to the financial year 2025-2026.Special99.94% for0.06% against
Against: promoters 0.00% · institutions 0.00% · other public 38.54%
Turnout: all 67.10% · promoters 100.00% · institutions 62.50% · other public 0.37%
- Reso. No. 5: Re-appointment of Ms. Maitri K. Mehta, as an Independent Director for a second term of 5 (five) consecutive years with effect from 1st April, 2024.Special92.58% for7.42% against
Against: promoters 0.00% · institutions 64.83% · other public 3.11%
Turnout: all 67.10% · promoters 100.00% · institutions 62.50% · other public 0.37%
Reso. No. 6: Re-appointment of Mr. Arpit J. Vyas, as a Global Managing Director for a further period of 5 (five) years with effect from 1st June, 2024 and payment of remuneration within the parameters of the applicable laws and regulations or any amendments thereto.MoreLess
Special91.48% for8.52% againstAgainst: promoters 0.00% · institutions 74.49% · other public 2.92%
Turnout: all 67.10% · promoters 100.00% · institutions 62.50% · other public 0.37%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 30 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Reso. No. 2: Re-appointment of a Director Mr. Arpit J. Vyas (DIN 01540057), who retires by rotation.1 for0 against
Reso. No. 3: Re-appointment of M/s. T R Chadha & Co. LLP, Chartered Accountants for a second term of five consecutive years commencing from the Financial Years 2026-27 to 2030-31 as Statutory Auditors of the company and to fix their remunerationMoreLess
1 for0 against- Reso. No. 4: Payment of Remuneration by way of commission to Non-Executive Directors (including Independent Directors) for the financial year 2026-2027 to the financial year 2028-2029.1 for0 against
1 proposal not matched to one resolution
- Accept Financial Statements and Statutory Reports1 for0 against
Mutual fund votes, meeting of 19 Jun 2026, 3 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Increase in Borrowing Limits pursuant to Section 180(1)(C) of the Companies Act, 2013.1 for0 against
- Approval for availing loan from Aamanya AG, Promoter Group Entity under External Commercial Borrowings ("ECB") route as a Material Related Party Transaction.3 for0 against
1 proposal not matched to one resolution
To borrow and availing loans and other credit facilities from time to time with or without security, whether by way of loans, advances, debentures, bonds, foreign currency borrowings/bonds or any other instruments/securities whether convertible into equity/preference shares or not, from any person(s) including bank(s), financial or other institution(s), firm(s) and corporate body (ies), which when aggregated together with all existing borrowings of the Company (apart from the temporary loans and credit obtained from the Company’s banker in the ordinary course of business) shall not exceed INR 4,000 crores exclusive of interest and other charges thereon, as the Board in its absolute discretion thinks fit.MoreLess
2 for0 against
6 earlier meetings
Mutual fund votes, meeting of 29 Sep 2025, 6 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2025 and report of the Board of Directors and Auditors thereon.5 for0 against
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2025 and the report of the Auditors thereon.5 for0 against
- Reso. No. 2: Re-appointment of a Director Mrs. Deohooti J. Vyas (DIN 00004876), who retires by rotation.6 for0 against
Reso. No. 3: Appointment of M/S. Ashok P. Pathak & Co., Practicing Company Secretaries for a term of five consecutive years commencing from the Financial Years 2025-26 to 2029-30 as Secretarial AuditorMoreLess
6 for0 against
1 proposal not matched to one resolution
- Accept Financial Statements and Statutory Reports1 for0 against
Mutual fund votes, meeting of 19 Sep 2025, 6 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Approval for increasing Authorised Share Capital of the Company as per provisions of Companies Act, 20131 for0 against
- Approval for Alteration of Capital Clause of Memorandum of Association Company as per provisions of Companies Act, 20136 for0 against
- Approval for re-appointment of Mrs. Deohooti J. Vyas (DIN 00004876) as a Whole-time Director and payment of remuneration to her for further period of five years w.e.f. 3rd September, 2026
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundTransparency Concern: No clarity on adequacy of profits. Required disclosures not made in the explanatory statement for payment in case of inadequacy of profits.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit and profile of the proposed director. Transparency Concern: No clarity on adequacy of profits. Disclosures as required under Schedule V to the Companies Act, 2013 not made in the explanatory statement for payment in case of inadequacy of profits, as minimum remuneration in accordance with Schedule V
2 for4 against - Confirmation of the appointment of Mr. Dhaval Rameshchandra Shah (DIN – 09385325), as a Non-Executive and Non-Independent Director6 for0 against
3 proposals not matched to one resolution
- Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
Against HSBC Mutual Fund
- HSBC Mutual FundA vote AGAINST this resolution is warranted given that the potential dilution of this request of 24.56 percent is considered excessive, and the company has not provided adequate details on how the funds will be deployed
0 for1 against To increase Rs. 38,00,00,000/- divided into 19,00,00,000 equity shares of Rs. 2/- each from Rs. 34,05,00,000/- divided into 17,02,50,000 equity shares of Rs. 2/- each by creating an additional 1,97,50,000 equity shares of Rs. 2/-, each aggregating to Rs. 3,95,00,000.MoreLess
5 for0 againstTo raise further capital and to create, offer, issue and allot (including with provisions for reservations on firm and/ or competitive basis, for such part of issue and for such categories of persons as may be permitted by applicable law), with or without green shoe option, such number of fully paid-up Equity Shares, and/or convertible securities (including warrants, or otherwise, in registered or bearer form) (all of which are hereinafter referred to as Securities) or any combination of the Securities thereof in accordance with the applicable laws, in such manner in consultation with the lead managers / book running lead manager(s) and/or other advisor(s) or otherwise, for an aggregate consideration not exceeding INR 1,000 crores only.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance and Transparency Concern: Significant Dilution. Lack of adequate justification, urgency or need of funds not adequately justified. No clarity regarding not opting for Rights Issue.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance and Transparency Concern: Significant Dilution. Lack of adequate justification, urgency or need of funds not adequately justified. No clarity regarding not opting for Rights Issue
1 for4 against
Mutual fund votes, meeting of 25 Jun 2025, 6 fund houses
- Confirmation of the appointment of Dr. Margie Sunil Parikh (DIN – 07056179), as an Independent Director for a first term of five consecutive years w.e.f. 1st April, 20256 for0 against
- Confirmation of the appointment of Mr. Hemantkumar J. Bhatt (DIN: 02657432), as an Independent Director for a first term of five consecutive years w.e.f. 1st April, 2025
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Hold position as a Chairperson of Audit Committee & Nomination & Remuneration Committee. Director acting as chairperson of both committees may lead to a concentration of power in the hands of a single individual and may not be in the best interest of corporate governance.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: Hold position as a Chairperson of AC & NRC
2 for4 against
Mutual fund votes, meeting of 31 Jan 2025, 6 fund houses
- Confirmation of the appointment of Mr. Kulin N. Shah (DIN – 01863481), as an Independent Director for a first term of five consecutive years
Against Mirae Asset Mutual Fund
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
5 for1 against - Approval for alteration of Object Clause of Memorandum of Association as per provisions of Companies Act, 20136 for0 against
Mutual fund votes, meeting of 27 Sep 2024, 4 fund houses
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2024 and report of the Board of Directors and Auditors thereon.4 for0 against
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2024 and the report of the Auditors thereon.4 for0 against
- Reso. No. 2: Re-appointment of a Director Mr. Arpit J. Vyas (DIN 01540057), who retires by rotation.
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundRe-appointment compliant with law. Governance concern: Remuneration practice appears to be excessive in favor of Mr. Arpit J. Vyas.
1 for3 against Reso. No. 3: Payment of remuneration pursuant to Regulation 17(6)(ca) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to Mr. Janmejay R. Vyas (DIN:00004730), Director of the Company for rendering professional service to the Company for the Financial Year 2024-25.MoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Chairman related to Managing Director; Inadequate justification; disproportionate remuneration.
- HSBC Mutual FundA vote AGAINST this resolution is warranted because: • There is insufficient justification for J. R. Vyas' pay level, which is higher than that paid to the executive director of the company in FY2023. • His pay is more indicative of an executive position and creates uncertainty on his exact role at the company and the division of responsibilities at the board level. • There is no compelling rationale to justify the proposed payout that is beyond the standard fees paid to other non-executive directors.
0 for4 against
Mutual fund votes, meeting of 27 Sep 2023, 3 fund houses
- Reso. No. 1 (a): Adoption of Audited Standalone Financial Statements for the year ended March 31, 2023 and report of the Board of Directors and Auditors thereon.3 for0 against
- Reso. No. 1 (b): Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2023 and the report of the Auditors thereon.3 for0 against
- Reso. No. 2: Re-appointment of a Director Mr. Janmejay R. Vyas (DIN 00004730), who retires by rotation.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with law. Governance concern: Chairman related to Managing Director; Inadequate justification; disproportionate remuneration.
2 for1 against Reso. No. 3: Payment of remuneration pursuant to Regulation 17(6)(ca) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to Mr. Janmejay R. Vyas (DIN:00004730), Director of the Company for rendering professional service to the Company for the Financial Year 2023-24.MoreLess
Against HSBC Mutual Fund, Motilal Oswal Mutual Fund
- HSBC Mutual FundA vote AGAINST this resolution is warranted because: There is insufficient justification for J. R. Vyas' pay level, which is higher than that paid to the executive director of the company in FY2023. His pay is more indicative of an executive position and creates uncertainty on his exact role at the company and the division of responsibilities at the board level. There is no compelling rationale to justify the proposed payout that is beyond the standard fees paid to other non-executive directors.
- Motilal Oswal Mutual FundCompliant with law. Governance concern: Chairman related to Managing Director; Inadequate justification; disproportionate remuneration.
1 for2 against- Reso. No. 4: Payment of Remuneration by way of commission to Non-Executive Directors (including Independent Directors) for the financial year 2023-2024 to the financial year 2025-2026.
Against HSBC Mutual Fund
- HSBC Mutual FundNon-executive directors participate in performance-based incentive schemes.
2 for1 against - Reso. No. 5: Re-appointment of Ms. Maitri K. Mehta, as an Independent Director for a second term of 5 (five) consecutive years with effect from 1st April, 2024.3 for0 against
Reso. No. 6: Re-appointment of Mr. Arpit J. Vyas, as a Global Managing Director for a further period of 5 (five) years with effect from 1st June, 2024 and payment of remuneration within the parameters of the applicable laws and regulations or any amendments thereto.MoreLess
Against HSBC Mutual Fund, Motilal Oswal Mutual Fund
- HSBC Mutual FundA vote AGAINST this resolution is warranted in view of the following concerns: The company has not disclosed a breakup of Arpit J. Vyas' individual pay components. He will receive his remuneration, coupled with increments, notwithstanding the relevant regulatory limits, for the next five years. His historical pay quantum has not been aligned with the company's performance. His overall remuneration is aggressively positioned against industry standards and the company's size and scale of operations.
- Motilal Oswal Mutual FundAppointment is compliant with law. Governance Concern: Lack of transparency in remuneration practices.
1 for2 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- No
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Mar 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| OthersMar 2025 | 50.00 | – | – | No |