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EFC (I) MD, chairman, board of directors and AGM

NSE: EFCILBSE: 512008Commercial Services & SuppliesSmall Cap

Last close ₹165.69down ₹9.81 (5.59%)BSE ₹166.05

Share price at the NSE close on 23 Oct 2026. Previous close ₹175.50.

52-week range of traded prices to 23 Oct 2026
₹161.09Low, 23 Oct 2026₹315.00High, 12 Nov 2025
Market cap
₹2,451 Cr981st largest listed
P/E
Earlier quarters restated in the year
P/B
Shares changed
Dividend yield
Nonein the last 12 months
ROCE
33.4%
Debt to equity
0.38
Volume, NSE
2,34,57744.3% delivered

EFC (I) 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

  • Chairperson and managing directorUmesh Kumar SahayRelated to the promoter
  • Company Secretary and Compliance OfficerAman Gupta

6 directors3 independent2 executive1 non-executive

  • Umesh Kumar Sahay · Chairperson and managing directorExecutive · joined May 2022 · reappointed Jul 2025 · 4 listed boards · 2 committee seats, 1 as chair
  • Abhishek NarbariaNon-executive · joined May 2022 · reappointed Oct 2024 · 4 listed boards · 2 committee seats
  • Nikhil Dilipbhai BhutaExecutive · joined May 2022 · reappointed Oct 2025 · 3 listed boards · 7 committee seats
  • Rajesh Chandrakant VaishnavIndependent · joined Aug 2022 · reappointed Aug 2022 · 46 months as independent · 3 listed boards · 3 as independent · 5 committee seats, 2 as chair
  • Mangina Srinivas RaoIndependent · joined Dec 2022 · reappointed Dec 2022 · 42 months as independent · 7 listed boards · 7 as independent · 10 committee seats, 3 as chair
  • Gayathri Srinivasan IyerIndependent · joined May 2022 · reappointed May 2022 · 49 months as independent · 4 listed boards · 4 as independent · 7 committee seats, 2 as chair

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

Committees and meetings

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

  • Board

    • 28 May 20266 of 6 present3 independent · 2 days in between
    • 25 May 20266 of 6 present3 independent · 23 days in between
    • 1 May 20266 of 6 present3 independent · 27 days in between
    • 3 Apr 20266 of 6 present3 independent · 47 days in between
    1 earlier meeting
    • 14 Feb 20266 of 6 present3 independent

  • Audit Committee

    Chair Gayathri Srinivasan Iyer

    Rajesh Chandrakant Vaishnav, Nikhil Dilipbhai Bhuta, Mangina Srinivas Rao

    • 28 May 20264 of 4 present3 independent · 2 days in between
    • 25 May 20264 of 4 present3 independent · 9 days in between
    • 15 May 20264 of 4 present3 independent · 43 days in between
    • 1 Apr 20264 of 4 present3 independent · 45 days in between
    1 earlier meeting
    • 14 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Gayathri Srinivasan Iyer

    Rajesh Chandrakant Vaishnav, Mangina Srinivas Rao

    • 28 May 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Rajesh Chandrakant Vaishnav

    Gayathri Srinivasan Iyer, Nikhil Dilipbhai Bhuta

    • 14 Feb 20263 of 3 present2 independent

  • Risk Management Committee

    Chair Mangina Srinivas Rao

    Gayathri Srinivasan Iyer, Nikhil Dilipbhai Bhuta, Uday Tushar Vora, Vaniti Pandit

    • 28 May 20263 of 3 present3 independent · 34 days in between
    • 23 Apr 20263 of 3 present3 independent · 6 days in between
    • 16 Apr 20263 of 3 present3 independent · 15 days in between
    • 31 Mar 20263 of 3 present3 independent · 44 days in between
    1 earlier meeting
    • 14 Feb 20263 of 3 present3 independent

  • Corporate Social Responsibility Committee

    Chair Umesh Kumar Sahay

    Gayathri Srinivasan Iyer, Abhishek Narbaria

    No meeting listed in the filing.

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • M/s. Mehra Goel & Co.Peer-review certificate valid to Sep 2027
1 earlier auditor
  • Mehra Goel & CoNamed in the filing for the quarter to Mar 2025

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.

EFC (I) 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.EFC (I) share news and announcements

Annual general meeting, 30 Sep 2026

24,869 shareholders on the register on 23 Sep 2026; present: 7 promoters and 40 others; votes counted by Chirag Sachapara / Sachapara and Associates.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 March 31, 2026 and the reports of the Board of Directors and Auditors’ thereon; and (b) the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 and the report of Auditors’ thereonMoreLess
    Ordinary
    92.87% for7.13% against

    Against: promoters 0.00% · institutions 69.34% · other public 4.11%

    Turnout: all 63.02% · promoters 100.00% · institutions 61.29% · other public 1.49%

  2. To approve re-appointment of Mr. Abhishek Narbaria (DIN: 01873087), as a Director, who retires by rotation, and being eligible, offers himself for re-appointment
    Ordinary
    98.21% for1.79% against

    Against: promoters 0.00% · institutions 17.14% · other public 4.11%

    Turnout: all 63.02% · promoters 100.00% · institutions 61.29% · other public 1.49%

  3. To shift the Registered Office of the Company
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.11%

    Turnout: all 63.02% · promoters 100.00% · institutions 61.29% · other public 1.49%

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 Sep 2026, 1 resolution

24,744 shareholders on the register on 14 Aug 2026; votes counted by Mr. Chirag Sachapara / M/s. Sachapara and Associates.The company's voting result (opens in a new tab)

  1. PREFERENTIAL ISSUE OF UPTO 19,99,996 EQUITY SHARES BY WAY OF SWAP OF SHARES (FOR CONSIDERATION OTHER THAN CASH) FOR AN ACQUISITION OF 100% STAKE OF ULTRAFRESH MODULAR SOLUTIONS LIMITED (CIN: U74899MH1992PLC456913) ON FULLY-DILUTED BASISMoreLess
    Special
    100.00% for0.00% against

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

    Turnout: all 68.47% · promoters 100.00% · institutions 90.21% · other public 9.48%

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, 29 Aug 2026, 3 resolutions

25,173 shareholders on the register on 24 Jul 2026; votes counted by Mr. Chirag Sachapara / M/s Sachapara and Associates.The company's voting result (opens in a new tab)

  1. TO FIX REMUNERATION OF MR. ABHISHEK NARBARIA (DIN: 01873087), NON-EXECUTIVE DIRECTOR OF THE COMPANY
    Special
    95.54% for4.46% against

    Against: promoters 0.00% · institutions 41.65% · other public 0.01%

    Turnout: all 72.21% · promoters 99.84% · institutions 74.72% · other public 25.28%

  2. TO APPROVE THE ALTERATION OF THE OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY.
    Special
    100.00% for0.00% against

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

    Turnout: all 72.21% · promoters 99.84% · institutions 74.72% · other public 25.28%

  3. TO APPROVE THE MATERIAL RELATED PARTY TRANSACTIONS.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 15.88% · promoters 0.00% · institutions 74.72% · other public 24.27%

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, 5 Nov 2025, 1 resolution

23,811 shareholders on the register on 3 Oct 2025; votes counted by Chirag Sachapara / Sachapara & Associates.The company's voting result (opens in a new tab)

  1. TO INCREASE THE AUTHORISED SHARE CAPITAL AND CONSEQUENT ALTERATION TO THE CAPITAL CLAUSE OF THE MEMORANDUM OF ASSOCIATION
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.44%

    Turnout: all 49.92% · promoters 99.96% · institutions 30.27% · other public 2.93%

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

Annual general meeting, 30 Sep 2025, 4 resolutions

23,989 shareholders on the register on 23 Sep 2025; present: 3 promoters and 62 others; votes counted by Chirag Sachapara / Sachapara and Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of Auditors thereon.MoreLess
    Ordinary
    96.80% for3.20% against

    Against: promoters 0.00% · institutions 39.50% · other public 0.01%

    Turnout: all 51.10% · promoters 99.96% · institutions 41.35% · other public 3.41%

  2. To approve Re-appointment of Mr. Nikhil Dilipbhai Bhuta, as a Director (DIN: 012111646), who retires by rotation.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 51.10% · promoters 99.96% · institutions 41.35% · other public 3.41%

  3. To appoint Secretarial Auditor of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 51.10% · promoters 99.96% · institutions 41.35% · other public 3.41%

  4. To Re-Appoint Mr. Nikhil Dilipbhai Bhuta (DIN: 02111646) as Whole-time Director of the Company, for a period of Five years and fixing his Remuneration.
    Special
    100.00% for0.00% against

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

    Turnout: all 51.10% · promoters 99.96% · institutions 41.35% · other public 3.41%

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.

Meeting called by the tribunal, 15 Sep 2025, 2 resolutions

23,312 shareholders on the register on 8 Sep 2025; present: 3 promoters and 74 others; votes counted by Chirag Sachapara / Sachapara and Associates.The company's voting result (opens in a new tab)

  1. TO CONSIDER AND, IF THOUGHT FIT, TO PASS, THE FOLLOWING RESOLUTION WITH SPECIFIED REQUISITE MAJORITY AS PROVIDED UNDER THE PROVISIONS OF SECTIONS 230-232 AND IN TERMS OF THE SEBI SCHEME MASTER CIRCULAR (SEBI/HO/CFD/POD- 2/P/CIR/2023/93) DATED JUNE 20, 2023 (AS AMENDED), AND OTHER APPLICABLE PROVISIONS, IF ANY.MoreLess
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.28%

    Turnout: all 65.75% · promoters 99.96% · institutions 57.40% · other public 32.77%

  2. TO CONSIDER, AND, IF THOUGHT FIT, APPROVE THE RELATED PARTY TRANSACTION TO BE ENTERED INTO BY THE COMPANY AS PART OF THE SCHEME AND TO PASS, WITH OR WITHOUT MODIFICATION(S), THE FOLLOWING RESOLUTION AS AN ORDINARY RESOLUTION.MoreLess
    OrdinaryPromoters have an interest in it
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.28%

    Turnout: all 20.32% · promoters 0.00% · institutions 57.40% · other public 32.77%

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)

  • To receive, consider and adopt (a) the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors’ thereon; and (b) the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 and the report of Auditors’ thereonMoreLess
    1 for0 against
  • To approve re-appointment of Mr. Abhishek Narbaria (DIN: 01873087), as a Director, who retires by rotation, and being eligible, offers himself for re-appointment
    1 for0 against
  • To shift the Registered Office of the Company
    1 for0 against

Mutual fund votes, meeting of 5 Nov 2025, 1 fund house

  • TO INCREASE THE AUTHORISED SHARE CAPITAL AND CONSEQUENT ALTERATION TO THE CAPITAL CLAUSE OF THE MEMORANDUM OF ASSOCIATION
    1 for0 against
5 earlier meetings

Mutual fund votes, meeting of 30 Sep 2025, 1 fund house

  • To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of Auditors thereon.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundUnqualified Financial Statements. Non-Compliant with the Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed the financials of its subsidiaries for FY 2024-25 on its website
    0 for1 against
  • To approve Re-appointment of Mr. Nikhil Dilipbhai Bhuta, as a Director (DIN: 012111646), who retires by rotation.
    1 for0 against
  • To appoint Secretarial Auditor of the Company.
    1 for0 against
  • To Re-Appoint Mr. Nikhil Dilipbhai Bhuta (DIN: 02111646) as Whole-time Director of the Company, for a period of Five years and fixing his Remuneration.
    1 for0 against

Mutual fund votes, meeting of 15 Sep 2025, 1 fund house

  • Scheme of Amalgamation (Merger by Absorption) of Whitehills Interior Limited (Transferor Company) with EFC (I) Limited (Transferee Company) and their respective shareholders and creditors (Scheme).
    1 for0 against
  • To absorbing assets and liabilities of Whitehills Interior Limited (subsidiary and related party of the Company) and for issue of 3,77,30,000 (Three Crore Seventy Seven Lakhs Thirty Thousand) equity shares of INR 2 (Two) each, fully paid up, to the shareholders of Whitehills Interior Limited, which includes the Promoters of the Company being related party, pursuant to the Scheme of Amalgamation (Merger by Absorption) between Whitehills Interior Limited (subsidiary and related party of the Company) and the CompanyMoreLess
    1 for0 against

Mutual fund votes, meeting of 16 Jul 2025, 1 fund house

  • To approve material related party transaction(s) between EFC Limited (wholly Owned Subsidiary of the Company) and Whitehills Interior Limited for an aggregate value not exceeding INR 500 crores at any point of time during the Financial Year 2025-26 provided that the said contract(s) / arrangement(s) / transactions shall be entered on an arm’s length basis and in the ordinary course of business.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance and Transparency Concern: Ambiguity regarding prior approval of the proposed transaction and Basis for Arm’s Length pricing is not adequately disclosed.
    0 for1 against
  • To approve material related party transaction(s) between Whitehills Interior Limited (subsidiary of the Company) and DCandT Global Private Limited for an aggregate value not exceeding INR 100 crores at any point of time during the Financial Year 2025-26, provided that the said contract(s) / arrangement(s) / transaction(s) shall be entered on an arm’s length basis and in the ordinary course of business.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance and Transparency Concern: Ambiguity regarding prior approval of the proposed transaction and Basis for Arm’s Length pricing is not adequately disclosed.
    0 for1 against
  • To approve material related party transaction(s) of the Company with Whitehills Interior Limited, for an aggregate value not exceeding INR 75 crores at any point of time during the Financial Year 2025-26 provided that the said contract(s) / arrangement(s) / transaction(s) shall be entered on an arm’s length basis and in the ordinary course of business.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance and Transparency Concern: Ambiguity regarding prior approval of the proposed transaction and Basis for Arm’s Length pricing is not adequately disclosed.
    0 for1 against
  • To fix remuneration of Mr. Abhishek Narbaria (DIN: 01873087) as a Non-Executive Director of the Company.
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance concern: No absolute cap on variable pay or total remuneration; Proposed remuneration is almost 5 times the current remuneration, thus, increase is excessive. Unfair and Excessive remuneration proposed as NED without justification.
    0 for1 against
  • To fix remuneration of Mr. Umesh Kumar Sahay (DIN: 01733060) as a Chairman and Managing Director of the Company.
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. No concern on merit of the proposed appointee. Governance Concern: Excessive time commitment; Holding position of Chairman and MD; no absolute cap on variable pay or total remuneration; Proposed remuneration is almost 6 times the current remuneration, thus, increase is excessive without adequate justification.
    0 for1 against

Mutual fund votes, meeting of 29 Jan 2025, 2 fund houses

  • Adoption of Restated Articles of Association.
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Transparency concern: Changes not Disclosed & updated Articles of Association cannot be located on the website
    0 for2 against
  • To capitalisation of a sum not exceeding Rs. 9,95,53,376 out of securities premium received in cash and/ or general reserve and/ or retained earnings of the Company, as may be considered appropriate for the purpose of issue and allotment of bonus equity shares of Rs. 2/- each credited as fully paid- up to eligible members of the Company holding equity shares of Rs. 2/- each whose names appear in the Register of Members/ Register of Beneficial Owners on a Record Date to be determined by the Board for this purpose, in the proportion of 1: 1 i. e., 1 (One) new fully paid up equity share of Rs. 2/- each for every 1 (One) existing fully paid- up equity share of Rs. 2/- each held by them and that the new bonus equity shares so issued and allotted shall, for all purposes, be treated as an increase in the paid- up capital of the Company held by each such member.MoreLess
    2 for0 against
  • To increase the Authorised Share Capital of the Company from Rs. 15,00,00,000/- divided into 7,50,00,000 equity shares of Rs. 2/- each by creation of additional 5,00,00,000 equity shares of Rs. 2/- each and consequently, the existing Clause V of the Memorandum of Association of the Company.MoreLess
    2 for0 against

Mutual fund votes, meeting of 17 Dec 2024, 1 fund house

  • To approve re-designation of Mr. Abhishek Narbaria (DIN: 01873087) Whole Time Director of the Company, to Non-Executive Non-Independent Director with effect from October 24, 2024, who shall be liable to retire by rotation and fixing his remuneration.MoreLess
    1 for0 against

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

Stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtEFC Estate Wakadewadi 1 Private LimitedSince 6 May 2026

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

  • Unlisted stake boughtEFC Estate Wakadewadi 2 Private LimitedSince 29 Apr 2026

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

  • Unlisted stake boughtEFC Estate Wakadewadi 3 Private LimitedSince 6 May 2026

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

  • Unlisted stake boughtEFC Estate Marisoft 3 Private LimitedSince 7 May 2026

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

  • Unlisted stake boughtEFC Estate Marisoft 4 Private LimitedSince 7 May 2026

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

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
Yes
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 Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the company filed the same raise a power of ten apart in its other statements and the filings do not settle which is right.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesJan 2024, checked by CARE Ratings Limited–• To grow businesses of the Company through backward or forward integration, direct or indirect activities in an organic or inorganic manner; • To invest in technology, human resources and other supporting infrastructure to achieve the targeted growth. • To provide adequate working capital, including to fund trade and other liabilities, if any.––No
Preferential IssuesJan 2024, checked by CARE Ratings Limited–• To grow businesses of the Company through backward or forward integration, direct or indirect activities in an organic or inorganic manner; • To invest in technology, human resources and other supporting infrastructure to achieve the targeted growth • To provide adequate working capital, including to fund trade and other liabilities, if any.––No
Rights IssuesMay 2026, checked by CARE Ratings Limited–Funding the working capital requirements of the Company.––No
Rights IssuesMay 2026, checked by CARE Ratings Limited–Funding in our subsidiary, EFC Limited, through Equity/ Debt, for the purpose of meeting its working capital requirements.––No
Rights IssuesMay 2026, checked by CARE Ratings Limited–Funding in our subsidiary, Ek Design Industries Limited, through Equity/ Debt, for the purpose of meeting its working capital requirements.––No
Rights IssuesMay 2026, checked by CARE Ratings Limited–General Corporate Purposes.––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.