Faze Three logo

Faze Three MD, chairman, board of directors and AGM

NSE: FAZE3QBSE: 530079Textiles & ApparelsSmall Cap

Last close ₹409.85down ₹19.55 (4.55%)BSE ₹411.25

Share price at the NSE close on 23 Oct 2026. Previous close ₹429.40.

52-week range of traded prices to 23 Oct 2026
₹322.10Low, 9 Jan 2026₹650.05High, 25 Jun 2026
Market cap
₹1,008 Cr1,408th largest listed
P/E
33.1
P/B
2.2
Dividend yield
Nonein the last 12 months
ROE
7.0%
ROCE
6.6%
Debt to equity
0.60
Volume, NSE
51,23142.3% delivered

Faze Three 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 directorAjay Brijlal AnandRelated to the promoter
  • Company Secretary and Compliance OfficerAkram Sati

7 directors4 independent2 executive1 non-executive

  • Ajay Brijlal Anand · Chairperson and managing directorExecutive · joined Jun 2013 · reappointed Apr 2025 · 1 listed board · 4 committee seats
  • Sanjay Brijlal AnandExecutive · joined Dec 2009 · reappointed Apr 2025 · 1 listed board
  • Rashmi Ajay AnandNon-executive · joined Aug 2019 · 1 listed board · 1 committee seat
  • James Barry LeonardIndependent · joined Oct 2022 · reappointed Oct 2022 · 44 months as independent · 1 listed board · 1 as independent
  • Chuji KondoIndependent · joined Oct 2022 · reappointed Oct 2022 · 44 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Devajyoti BhattacharyaIndependent · joined Nov 2024 · reappointed Nov 2024 · 19 months as independent · 1 listed board · 1 as independent
  • Vinit Arvind RathodIndependent · joined Aug 2016 · reappointed Aug 2021 · 118 months as independent · 1 listed board · 1 as independent · 4 committee seats, 4 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.

1 director who left
  • Manan Manoj Shah, left 10 Jun 2026: Others

Committees and meetings

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

  • Board

    • 22 May 20267 of 8 present5 independent · 98 days in between
    • 12 Feb 20268 of 8 present5 independent

  • Audit Committee

    Chair Vinit Arvind Rathod

    Ajay Brijlal Anand, Chuji Kondo

    • 22 May 20263 of 3 present2 independent · 98 days in between
    • 12 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Vinit Arvind Rathod

    Rashmi Ajay Anand, Chuji Kondo

    • 29 Jun 20263 of 3 present2 independent · 38 days in between
    • 21 May 20263 of 3 present2 independent · 98 days in between
    • 11 Feb 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Vinit Arvind Rathod

    Ajay Brijlal Anand, Rashmi Ajay Anand

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Ajay Brijlal Anand

    Sanjay Brijlal Anand, Vinit Arvind Rathod

    • 21 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.

  • M/s. MSKA & AssociatesPeer-review certificate valid to Jul 2027

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.

Faze Three 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.Faze Three share news and announcements

Annual general meeting, 4 Sep 2026

9,981 shareholders on the register on 28 Aug 2026; present: 9 promoters and 44 others; votes counted by Mr. Sanjay R Dholakia / M/s Sanjay Dholakia & Associates, Practicing Company Secretary.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the: a. Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the reports of Board of Directors and Auditors thereon. b. Audited Consolidated Financial Statements for the Financial Year ended March 31, 2026, together with the report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.30% · promoters 100.00% · institutions 77.24% · other public 41.83%

  2. To appoint a Director in place of Mr. Sanjay Anand (DIN: 01367853), who retires by rotation and being eligible, offers himself for re-appointment as a Director.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.30% · promoters 100.00% · institutions 77.24% · other public 41.83%

  3. To approve appointment of Mr. Mohit Solanki (DIN: 11878759) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 75.30% · promoters 100.00% · institutions 77.24% · other public 41.83%

  4. To approve increase in borrowing limits of the Company under section 180(1)(c) of the Companies Act, 2013.
    Special
    100.00% for0.00% against

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

    Turnout: all 75.30% · promoters 100.00% · institutions 77.24% · other public 41.83%

  5. To approve selling / creation of mortgage or charge on the assets of the Company as per the provisions of section 180(1)(a) of the Companies Act, 2013.
    Special
    100.00% for0.00% against

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

    Turnout: all 75.30% · promoters 100.00% · institutions 77.24% · other public 41.83%

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 2025, 3 resolutions

11,858 shareholders on the register on 29 Aug 2025; present: 9 promoters and 32 others; votes counted by Mr. Sanjay R Dholakia / M/s Sanjay Dholakia & Associates, Practicing Company Secretary.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 March 31, 2025 together with the Reports of the Board of Directors and Auditors thereon and Audited Consolidated Financial Statements for the Financial Year ended March 31, 2025 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 77.40% · promoters 100.00% · institutions 0.15% · other public 47.66%

  2. To appoint a director in place of Mrs. Rashmi Anand (DIN: 00366258), who retires by rotation and being eligible, offers herself for re-appointment as a director.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.40% · promoters 100.00% · institutions 0.15% · other public 47.66%

  3. To appoint Mr. Sanjay Dholakia of M/s. Sanjay Dholakia & Associates, Practicing Company Secretaries the as Secretarial Auditor of the Company for a term of 5 (Five) consecutive years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.40% · promoters 100.00% · institutions 0.15% · other public 47.66%

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 Jan 2025, 1 resolution

12,962 shareholders on the register on 13 Dec 2024; votes counted by Mr. Sanjay R Dholakia / M/s Sanjay Dholakia & Associates, Practicing Company Secretary.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Devajyoti Bhattacharya (DIN: 00868751) as an Independent Director of the Company
    Special
    99.99% for0.01% against

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

    Turnout: all 74.32% · promoters 100.00% · institutions 98.93% · other public 41.07%

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, 27 Sep 2024, 10 resolutions

Present: 6 promoters and 38 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited financial statements of the Company for the financial year ended March 31, 2024 together with the reports of Board of Directors and Auditors thereon nAND nAudited consolidated financial statements for the financial year ended March 31, 2024 together with the report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.24% · promoters 100.00% · institutions 99.63% · other public 50.05%

  2. To appoint a Director in place of Mr. Ajay Anand (DIN: 00373248), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 43.17% · promoters 37.54% · institutions 99.63% · other public 50.05%

  3. To re-appoint Mr. Ajay Anand (DIN: 00373248) as the Managing Director of the Company.
    Special
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.01%

    Turnout: all 43.17% · promoters 37.54% · institutions 99.63% · other public 50.05%

  4. To re-appoint Mr. Sanjay Anand (DIN: 01367853) as the Whole-time Director of the Company.
    Special
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.01%

    Turnout: all 74.62% · promoters 93.55% · institutions 99.63% · other public 50.05%

  5. Enhancement of limits of Material Related Party Transactions for Financial Year 2024-25.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 22.09% · promoters 0.00% · institutions 99.63% · other public 50.05%

  6. Approval of Material Related Party Transactions for a period of 5 years from FY 2025-26 to FY 2029-30.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 22.09% · promoters 0.00% · institutions 99.63% · other public 50.05%

  7. Introduction, Adoption and Implementation of ‘Faze Three Employee Stock Option Scheme 2024’.
    Special
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.01%

    Turnout: all 78.24% · promoters 100.00% · institutions 99.63% · other public 50.05%

  8. Extension of Faze Three Employee Stock Option Scheme 2024 to the employees of group company(ies) including subsidiary company(ies) or its associate company(ies), in India or Outside India.
    Special
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.02%

    Turnout: all 78.24% · promoters 100.00% · institutions 99.63% · other public 50.05%

  9. Implementation of Faze Three Employee Stock Option Scheme, 2024 through Trust and secondary acquisition of equity shares of the Company by the Trust.
    Special
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.02%

    Turnout: all 78.24% · promoters 100.00% · institutions 99.63% · other public 50.05%

  10. Provision of money by the Company for purchase of its own shares by the trust / trustees for the benefit of employees under Faze Three Employee Stock Option Scheme, 2024.
    Special
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.01%

    Turnout: all 78.24% · promoters 100.00% · institutions 99.63% · other public 50.05%

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, 22 Sep 2023, 3 resolutions

Present: 9 promoters and 40 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the:na. audited financial statements of the Company for the financial year ended March 31, 2023 together withnthe reports of Board of Directors and Auditors thereon.nb. audited consolidated financial statements for the financial year ended March 31, 2023 together withnthe report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.32% · promoters 100.00% · institutions 92.73% · other public 50.16%

  2. To appoint a Director in place of Mr. Sanjay Anand (DIN: 01367853), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.32% · promoters 100.00% · institutions 92.73% · other public 50.16%

  3. Approval of the Material Related Party Transactions
    OrdinaryPromoters have an interest in it
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.47%

    Turnout: all 10.59% · promoters 0.00% · institutions 92.73% · other public 23.54%

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, 14 Dec 2022, 4 resolutions

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

  1. Appointment of Mr. James Barry Leonard (DIN: 09744803) as the Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 71.28% · promoters 100.00% · institutions 0.00% · other public 40.81%

  2. Appointment of Mr. Chuji Kondo (DIN: 09744760) as the Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 71.28% · promoters 100.00% · institutions 0.00% · other public 40.81%

  3. Approval of the Material Related Party Transactions for FY 2022-23.
    OrdinaryPromoters have an interest in it
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.32%

    Turnout: all 19.80% · promoters 0.00% · institutions 0.00% · other public 40.80%

  4. Approval of the Material Related Party Transactions for FY 2023-24.
    OrdinaryPromoters have an interest in it
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.32%

    Turnout: all 19.80% · promoters 0.00% · institutions 0.00% · other public 40.80%

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 16 Jan 2025, 1 fund house

  • Appointment of Mr. Devajyoti Bhattacharya (DIN: 00868751) as an Independent Director of the Company
    1 for0 against

Mutual fund votes, meeting of 27 Sep 2024, 1 fund house

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThrough resolution #8, the company seeks approval to extend ESOP 2024 to eligible employees (present and future) of group companies including subsidiaries and associates in or outside India. While we support the grant of stock options to unlisted subsidiaries, we do not support extension of schemes to associate companies, without a clear rationale. There is no clarity on why the company seeks to extend the scheme to group companies: these may not have any business dealings with the company. Further, our view on the resolution is linked to our view on resolution #7. We do not support the resolution.
    0 for1 against
  • Item 3, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundUnder the scheme, the company proposes to grant upto 1,094,355 options to eligible employees. The scheme will be implemented via trust route through fresh issue or secondary acquisition. If the entire scheme is implemented by way of fresh issue, it will result in a dilution of 4.3% on the expanded capital base as on 30 June 2024. The exercise price will be determined by the Nomination and Remuneration Committee (NRC) subject to minimum of face value i.e Rs. 10.0 per share. We do not favor ESOP schemes where options are granted at a significant discount (>20%) to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to pre-defined performance parameters and the company has disclosed the targets for such parameters. In the current case, the company has not disclosed such criteria/ targets and thus, we are unable to support the resolution.
    0 for1 against
  • Item 4, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe company may implement ESOP 2024 via the trust route, wherein the said shares may be either directly issued to the Trust by the Company or may be acquired by the Trust from Secondary Market (Secondary Acquisition). Therefore, the company seeks shareholder approval for secondary acquisition of maximum of 1,094,355 options, which shall not exceed 4.5% of the Paid-up Equity Capital of the Company as on 31 March 2024. Further, the secondary acquisition by the Trust in any financial year will not exceed 2 (two) percent of the paid-up Equity capital as at the end of the respective previous financial year. Our view on this resolution is linked to our view on resolution #7. We do not support the resolution.
    0 for1 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThrough resolution #10, the company seeks approval to provide financial support to the trust for acquisition of shares to implement ESOP 2024. The amount of interest free loan to be provided for implementation of the Scheme by the Company to the Trust shall not exceed the maximum limit prescribed under applicable laws, from time to time, presently not exceeding 5% of the paid-up capital and free reserves as on 31 March of the preceding financial year as provided in Companies Act, 2013. The tenure of such loan shall be till the objects of the Trust are accomplished or the repayment of loan is made, whichever is earlier. The utilization of such loan shall be for the objects of the Trust as mentioned in the trust deed. The Trust shall repay the loan to the Company by the proceeds realized from exercise of Options by the Grantees and the accruals of the Trust during the tenure of the Scheme or termination of scheme. Our view on this resolution is linked to our view on resolution #7. We do not support the resolution.
    0 for1 against
  • Item 7, as a fund house numbered it
    1 for0 against
  • Item 8, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundAjay Anand, 69, is a part of the promoter family and the Chairperson and Managing Director of the company. He has been on the board since 20 June 2013 with the company since its inception. He was last reappointed as MD in the 2021 AGM for three years from 1 April 2022. He attended all six (100%) board meetings held in FY24. The company also seeks approval for his continuation on the board post attaining 70 years of age during current tenure. We do not consider age to be a criterion for board (re)appointments. For FY24, his remuneration the Faze Three Group aggregated Rs. 11.3 mn. We are unable to estimate his total remuneration over his proposed tenure, as his terms include a performance linked bonus for which there is no guidance provided. Further, the remuneration includes commission component @1% of net profits: there is no absolute cap on the quantum of commission or bonus. Ajay Anand also receives remuneration from Faze Three Autofab Limited (related party having common promoters) in his capacity as its CMD: where the remuneration ranges from Rs 4.5 mn to Rs 12.0 mn over his five year tenure. The remuneration terms proposed are open ended. The company must cap the overall remuneration in absolute amounts and disclose granular details in the shareholder notice including the performance metrics that determine his variable pay. While we support his reappointment as Managing Director, we are unable to estimate his overall remuneration. Hence, we are unable to support the resolution.
    0 for1 against
  • Item 9, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundSanjay Anand, 62, is a part of the promoter family and the Whole-time Director of the company. He has been on the board since 1 December 2009 and with the company since its inception. He was last reappointed as Managing Director in the 2021 AGM for three years from 1 April 2022. He attended five of six (83%) board meetings held in FY24. For FY24, his remuneration aggregated Rs. 3.8 mn We are unable to estimate his total remuneration over his proposed tenure, as his terms include a performance linked bonus for which there is no guidance provided. Further, the remuneration includes commission component @0.5% of net profits: there is no absolute cap on the quantum of commission or bonus. The remuneration terms proposed are open ended: the company must cap the overall remuneration in absolute amounts and disclose granular details in the shareholder notice including the performance metrics that determine his variable pay. While we support Sanjay Anand’s reappointment as Managing Director, we are unable to estimate his overall remuneration. Hence, we are unable to support the resolution.
    0 for1 against
  • Item 10, as a fund house numbered it
    1 for0 against
1 earlier meeting

Mutual fund votes, meeting of 22 Sep 2023, 1 fund house

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 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

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
No
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.