Emmvee Photovoltaic Power MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 25 Sep 2026, 8 fund houses so far (houses' deadline to file 15 Oct 2026)

• ADOPTION OF FINANCIAL STATEMENT

  8 for0 against
• DECLARATION OF DIVIDEND

  8 for0 against
• APPOINTMENT OF MR. SUHAS DONTHI MANJUNATHA, AS A DIRECTOR, LIABLE TO RETIRE BY ROTATION

  ›Against DSP Mutual Fund, Jio BlackRock Mutual Fund

  • DSP Mutual Fund, Jio BlackRock Mutual FundSuhas Donthi Manjunatha, 31, is part of the promoter group and serves as President, CEO and Whole-time Director. He has seven years of experience in the renewable energy sector and is responsible for operations and leading strategic direction. He was first appointed to the board on 22 March 2024 and was appointed as Whole-time Director on 30 April 2025. He attended all 18 board meetings held in FY26 (100%) and he is liable to retire by rotation.While his appointment is in line with statutory requirements, we are unable to support his reappointment because at 31 years of age and with less than ten years of relevant post-qualification work experience, his appointment as Whole-time Director does not align with our voting guidelines. We do not support the resolution.

  6 for2 against
• RATIFICATION OF REMUNERATION PAYABLE TO COST AUDITORS FOR THE FY 2026-27

  8 for0 against

Mutual fund votes, meeting of 1 Jan 2026, 10 fund houses

• RATIFICATION OF EMPLOYEES STOCK OPTION SCHEME 2025 (“ESOS2025”)

  ›Against 360 One Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund

  • 360 One Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance concern: Potential economic benefits to a single employee appear to be excessive; Power to the NRC to accelerate vesting period.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. • The performance parameters, weightages and targets for vesting have not been disclosed. • The proposal includes grant of stock options to employees of holding and associate company without a compelling rationale. • The repricing of stock options due to unattractive market price, can lead to employee rewards not being consistent with the overall shareholder experience.
  • HDFC Mutual FundLack of clarity on the pricing of ESOPs. We do not support the resolution.
  • ICICI Prudential Mutual FundDue to inadequate disclosures, the AMC has voted against the resolution.
  • Kotak Mahindra Mutual FundBased on disclosures, it is unclear if the stock options will be granted at market price or at a discount to market price. Upto 3,500,000 stock options can be granted under ESOS 2025. The company has stated in the notice that the Nomination and Remuneration Committee (NRC) may, at its own discretion, determine performance parameters for vesting. The Company has provided unfettered authority to the committee to accelerate the Vesting period of options. An authority to accelerate stock option defeat the purpose of the granting stock option, since, such options are granted with an aim to not only reward employees monetarily but also to retain them for longer period of time. Hence, we do not favour the resolution.

  3 for7 against
• RATIFICATION OF EXTENSION OF BENEFITS OF THE EMPLOYEES STOCK OPTION SCHEME 2025 TO THE EMPLOYEES OF SUBSIDIARY COMPANIES OF THE COMPANY

  ›Against 360 One Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund

  • 360 One Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual FundInterlinked with Resolution #1.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the market price, as on grant date. • The performance parameters, weightages and targets for vesting have not been disclosed. • The proposal includes grant of stock options to employees of holding and associate company without a compelling rationale. • The repricing of stock options due to unattractive market price, can lead to employee rewards not being consistent with the overall shareholder experience.
  • HDFC Mutual FundLack of clarity on the pricing of ESOPs. We do not support the resolution.
  • ICICI Prudential Mutual FundDue to inadequate disclosures, the AMC has voted against the resolution.
  • Kotak Mahindra Mutual FundThrough resolution #2, the company proposes to extend ESOS 2025 to the employees of its subsidiary companies. Our view on this resolution is linked to our view on resolution #1. We do not support the resolution.

  3 for7 against

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.