Fineotex Chemical MD, chairman, board of directors and AGM
NSE: FCLBSE: 533333Chemicals & PetrochemicalsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹51.55.
- 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.
- ₹5,720 Cr956th 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 23 Jul 2026
- 46.8
- 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 15 May 2026
- 6.5
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.10%
- 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 23 Jul 2026
- 15.2%
- 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 23 Jul 2026
- 16.2%
- 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 15 May 2026
- 0.01
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 2,40,17,49631.8% delivered
Fineotex Chemical 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 directorSurendra Deviprasad TibrewalaRelated to the promoter
- Company Secretary and Compliance OfficerSunny Parmar
7 directors4 independent3 executive
- Surendra Deviprasad Tibrewala · Chairperson and managing directorExecutive · joined Jan 2004 · reappointed Sep 2025 · 1 listed board
- Sanjay Surendra TibrewalaExecutive · joined Jan 2004 · reappointed Sep 2025 · 1 listed board · 2 committee seats
- Aarti Mitesh JhunjhunwalaExecutive · joined Aug 2018 · reappointed Sep 2024 · 1 listed board
- Amit Prabhakar PratapIndependent · joined Aug 2024 · reappointed Aug 2024 · 23 months as independent · 1 listed board · 1 as independent
- Bindu Darshan ShahIndependent · joined Jul 2020 · reappointed Sep 2025 · 72 months as independent · 2 listed boards · 2 as independent · 4 committee seats
- Sunil Vasant WaghmareIndependent · joined Oct 2020 · reappointed Sep 2025 · 68 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Chetan Navinchandra ShahIndependent · joined Aug 2025 · reappointed Aug 2025 · 11 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 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
- Navin Bhimsen Mittal, left 27 Sep 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 15 May 20267 of 7 present4 independent · 90 days in between
- 13 Feb 20267 of 7 present4 independent
Audit Committee
Chair Chetan Navinchandra Shah
Bindu Darshan Shah, Sunil Vasant Waghmare, Sanjay Surendra Tibrewala
- 15 May 20264 of 4 present3 independent · 90 days in between
- 13 Feb 20264 of 4 present3 independent
Nomination and remuneration committee
Chair Bindu Darshan Shah
Sunil Vasant Waghmare, Amit Prabhakar Pratap
- 15 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair Sunil Vasant Waghmare
Sanjay Surendra Tibrewala, Bindu Darshan Shah
No meeting listed in the filing.
Risk Management Committee
Chair Surendra Deviprasad Tibrewala
Sanjay Surendra Tibrewala, Bindu Darshan Shah
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Surendra Deviprasad Tibrewala
Sanjay Surendra Tibrewala, Bindu Darshan Shah
- 17 Apr 20263 of 3 present1 independent · 62 days in between
- 13 Feb 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.
- A S L & CoPeer-review certificate valid to Mar 2029
1 earlier auditor
- ASL & Co.Named 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.
Fineotex Chemical 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.Fineotex Chemical dividend history
Annual general meeting, 11 Sep 2026
2,04,408 shareholders on the register on 4 Sep 2026; present: 7 promoters and 65 others; votes counted by Mr. Hemant Shetye / HSPN & Associates LLP.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Statutory Auditor thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 65.19% · promoters 100.00% · institutions 46.25% · other public 4.00%
- To confirm the payment of Interim Dividend on Equity Shares and to declare a Final Dividend on Equity Shares for the financial year ended March 31, 2026Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.12%
Turnout: all 65.19% · promoters 100.00% · institutions 46.25% · other public 4.00%
- To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN:07759722) as director, who retires by rotation and being eligible offered herself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 65.19% · promoters 100.00% · institutions 46.25% · other public 4.00%
- To ratify the remuneration of cost auditorOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.15%
Turnout: all 65.19% · promoters 100.00% · institutions 46.25% · other public 4.00%
- To approve the proposal of raising of funds by way of issuance equity shares or any other eligible securitiesSpecial98.58% for1.42% against
Against: promoters 0.00% · institutions 60.91% · other public 0.15%
Turnout: all 65.24% · promoters 100.00% · institutions 46.25% · other public 4.15%
- To approve the Material Related Party Transaction(s)OrdinaryPromoters have an interest in it98.39% for1.61% against
Against: promoters 0.00% · institutions 69.39% · other public 0.15%
Turnout: all 65.24% · promoters 100.00% · institutions 46.25% · other public 4.15%
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, 25 Oct 2025, 3 resolutions
1,50,180 shareholders on the register on 17 Oct 2025; present: 7 promoters and 43 others; votes counted by Mr. Hemant Shetye / HSPN & Associates LLP.The company's voting result (opens in a new tab)
- To consider and approve the increase in Authorized Share Capital and consequential Alteration in Capital Clause of the Memorandum of AssociationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.75%
Turnout: all 64.82% · promoters 100.00% · institutions 46.84% · other public 0.67%
- To consider and approve the Sub-Division / Split of Equity Shares and consequential Alteration of Capital Clause of Memorandum of Association of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.75%
Turnout: all 64.82% · promoters 100.00% · institutions 46.84% · other public 0.67%
- To consider and approve the Issue of Bonus SharesOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.75%
Turnout: all 64.82% · promoters 100.00% · institutions 46.84% · other public 0.67%
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, 19 Sep 2025, 10 resolutions
1,39,008 shareholders on the register on 13 Sep 2025; present: 7 promoters and 56 others; votes counted by Mr. Hemant Shetye / HSPN & Associates LLP.The company's voting result (opens in a new tab)
To receive, consider and adopt the audited Standalone and audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Statutory Auditor thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.21%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To confirm the payment of Interim Dividend on Equity Shares and to declare a Final Dividend on Equity Shares for the financial year ended March 31, 2025Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.20%
Turnout: all 66.28% · promoters 100.00% · institutions 58.50% · other public 0.48%
- To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN: 07759722) as director, who retires by rotation and being eligible offered herself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 1.15%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To ratify the remuneration of cost auditorOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.61%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To approve the appointment of M/s. HSPN & Associates LLP as the Secretarial Auditor of the CompanyOrdinary95.35% for4.65% against
Against: promoters 0.00% · institutions 95.06% · other public 0.29%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To Approve the re-appointment of Mr. Sanjay Tibrewala (DIN: 00218525) as Whole Time Director of the CompanySpecialPromoters have an interest in it99.76% for0.24% against
Against: promoters 0.00% · institutions 4.94% · other public 0.90%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To Approve the re-appointment of Mr. Surendrakumar Tibrewala (DIN: 00218394) as Managing Director of the CompanySpecialPromoters have an interest in it95.29% for4.71% against
Against: promoters 0.00% · institutions 96.20% · other public 0.92%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To Approve the re-appointment of Mrs. Bindu Darshan Shah (DIN: 07131459) as an Independent Director of the CompanySpecial95.10% for4.90% against
Against: promoters 0.00% · institutions 100.00% · other public 0.94%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To Approve the re-appointment of Dr. Sunil Waghmare (DIN: 08906042) as an Independent Director of the CompanySpecial95.35% for4.65% against
Against: promoters 0.00% · institutions 95.06% · other public 0.86%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
- To Approve the appointment of Mr. Chetan Navinchandra Shah (DIN: 08038633) as a Non-Executive Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.53%
Turnout: all 66.27% · promoters 100.00% · institutions 58.50% · other public 0.47%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 10 Sep 2024, 7 resolutions
Present: 8 promoters and 52 others.The company's voting result (opens in a new tab)
- Adoption of Audited standalone and consolidated financial statements.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 72.43% · promoters 100.00% · institutions 94.94% · other public 9.77%
- To confirm the payment of Interim Dividend and to declare a Final Dividend on Equity Shares for the financial year 2023-24.nOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 72.43% · promoters 100.00% · institutions 94.94% · other public 9.77%
- To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN: 07759722) as director, who retires by rotation and being offers herself for re-appointment.Ordinary99.13% for0.87% against
Against: promoters 0.00% · institutions 14.18% · other public 0.02%
Turnout: all 72.43% · promoters 100.00% · institutions 94.94% · other public 9.77%
- To re-appoint the statutory auditor of the company and fix their remuneration.nOrdinary98.96% for1.04% against
Against: promoters 0.00% · institutions 16.90% · other public 0.01%
Turnout: all 72.43% · promoters 100.00% · institutions 94.94% · other public 9.77%
- To ratify the remuneration payable to cost auditorOrdinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.28% · other public 0.02%
Turnout: all 72.43% · promoters 100.00% · institutions 94.94% · other public 9.77%
- To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN: 07759722) as whole-time director of the company.nOrdinaryPromoters have an interest in it99.15% for0.85% against
Against: promoters 0.00% · institutions 13.90% · other public 0.03%
Turnout: all 72.36% · promoters 99.89% · institutions 94.94% · other public 9.77%
- To approve the appointment of Dr. Amit Prabhakar Pratap as an Independent Director of the company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 72.43% · promoters 100.00% · institutions 94.94% · other public 9.77%
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.
Extraordinary general meeting, 27 Jun 2024, 2 resolutions
Present: 7 promoters and 40 others.The company's voting result (opens in a new tab)
- ISSUE OF 28,15,049 SHARE WARRANTS, CONVERTIBLE INTO EQUITY SHARES ON PREFERENTIAL BASIS TO THE PERSONS BELONGING TO THE NON-PROMOTER CATEGORYSpecial99.91% for0.09% against
Against: promoters 0.00% · institutions 1.41% · other public 0.12%
Turnout: all 70.98% · promoters 100.00% · institutions 93.28% · other public 5.18%
- ISSUANCE OF 28,15,049 EQUITY SHARES ON PREFERENTIAL BASIS TO THE PERSONS BELONGING TO THE NON-PROMOTER CATEGORYSpecial99.91% for0.09% against
Against: promoters 0.00% · institutions 1.41% · other public 0.12%
Turnout: all 70.98% · promoters 100.00% · institutions 93.28% · other public 5.18%
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, 9 Mar 2024, 2 resolutions
Present: 4 promoters and 28 others.The company's voting result (opens in a new tab)
- Issue of 42,00,600 share warrants, convertible into equity shares on preferential basis to the persons belonging to the promoter and non-promoter categorySpecialPromoters have an interest in it94.81% for5.19% against
Against: promoters 0.00% · institutions 85.01% · other public 0.03%
Turnout: all 71.27% · promoters 100.00% · institutions 96.66% · other public 6.21%
- Issuance of 39,02,000 equity shares on preferential basis to the persons belonging to the non-promoter categorySpecial99.93% for0.07% against
Against: promoters 0.00% · institutions 1.14% · other public 0.03%
Turnout: all 71.27% · promoters 100.00% · institutions 96.66% · other public 6.21%
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, 15 Sep 2023, 6 resolutions
Present: 9 promoters and 47 others.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone and Consolidated Financial Statements for the Financial year ended 31 March 2023Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 76.66% · promoters 100.00% · institutions 95.26% · other public 24.10%
- Declaration of DividendOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 76.66% · promoters 100.00% · institutions 95.26% · other public 24.10%
- Appointment of a Director retiring by rotationOrdinary99.70% for0.30% against
Against: promoters 0.00% · institutions 5.37% · other public 0.02%
Turnout: all 76.66% · promoters 100.00% · institutions 95.26% · other public 24.10%
- Remuneration of Cost Auditors for the Financial Year 31 March 2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 76.66% · promoters 100.00% · institutions 95.26% · other public 24.10%
- Raising of funds through issue of securitiesSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 76.66% · promoters 100.00% · institutions 95.26% · other public 24.10%
- Contract with Related PartiesSpecialPromoters have an interest in it63.39% for36.61% against
Against: promoters 0.00% · institutions 99.40% · other public 0.02%
Turnout: all 11.62% · promoters 0.00% · institutions 95.26% · other public 24.10%
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 Aug 2022, 7 resolutions
Present: 9 promoters and 35 others.The company's voting result (opens in a new tab)
- Adoption of Audited Standalone and Consolidated Financial Statements for the Financial year ended 31 March 2022Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 76.69% · promoters 100.00% · institutions 98.52% · other public 21.59%
- Appointment of a Director retiring by rotationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 76.69% · promoters 100.00% · institutions 98.52% · other public 21.59%
- Declaration of DividendOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 76.69% · promoters 100.00% · institutions 98.52% · other public 21.59%
- Remuneration of Cost Auditors for the Financial Year 31 March 2023Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 76.69% · promoters 100.00% · institutions 98.52% · other public 21.59%
- Re-appointment and Revision in the remuneration payable to Mr. Surendrakumar Tibrewala, Managing Director of the Company with effect from 1st October, 2022SpecialPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 21.42% · promoters 14.90% · institutions 98.52% · other public 21.59%
- Re-appointment and Revision in the remuneration payable to Mr. Sanjay Tibrewala, Whole Time Director of the Company with effect from 1st October, 2022SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 73.63% · promoters 95.29% · institutions 98.52% · other public 21.59%
- Raising of funds through issue of securitiesSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 76.68% · promoters 100.00% · institutions 98.52% · other public 21.59%
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 25 Oct 2025, 2 fund houses
- To consider and approve the increase in Authorized Share Capital and consequential Alteration in Capital Clause of the Memorandum of Association2 for0 against
- To consider and approve the Sub-Division / Split of Equity Shares and consequential Alteration of Capital Clause of Memorandum of Association of the Company2 for0 against
- To consider and approve the Issue of Bonus Shares2 for0 against
Mutual fund votes, meeting of 19 Sep 2025, 6 fund houses
To receive, consider and adopt the audited Standalone and audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Statutory Auditor thereonMoreLess
6 for0 against- To confirm the payment of Interim Dividend on Equity Shares and to declare a Final Dividend on Equity Shares for the financial year ended March 31, 20256 for0 against
- To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN: 07759722) as director, who retires by rotation and being eligible offered herself for re-appointment6 for0 against
- To ratify the remuneration of cost auditor6 for0 against
- To approve the appointment of M/s. HSPN & Associates LLP as the Secretarial Auditor of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundGovernance Concern: Failure to highlight previous non-compliance by the Company in the Secretarial Audit Report or Compliance Report for FY 2024-25.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Failure to highlight previous non-compliance by the Company in the Secretarial Audit Report or Compliance Report for FY 2024-25.
- Nippon India Mutual FundGovernance concern: Failure to highlight previous non-compliance by the Company in the Secretarial Audit Report or Compliance Report.
1 for5 against - To Approve the re-appointment of Mr. Sanjay Tibrewala (DIN: 00218525) as Whole Time Director of the Company
Against Mirae Asset Mutual Fund
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
5 for1 against - To Approve the re-appointment of Mr. Surendrakumar Tibrewala (DIN: 00218394) as Managing Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundGovernance concern: Combined position as Chairman & Managing Director will lead to concentration of power; Director is accountable as Board Chairperson, since, Board is non compliant.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits, profile of the proposed appointee. Governance concern: Combined position as Chairman & Managing Director will lead to concentration of power; Director is accountable as Board Chairperson, since, Board is noncompliant u/s 152 of the Companies Act, 2013.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundGovernance concern: Combined position as Chairman & Managing Director will lead to concentration of power; Director is accountable as Board Chairperson, since, Board is noncompliant u/s 152 of the Companies Act, 2013.
0 for6 against - To Approve the re-appointment of Mrs. Bindu Darshan Shah (DIN: 07131459) as an Independent Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundPrior approval not sought for re-appointment for 2nd term as Independent Director. Governance Concern: Same Director is serving as Chairperson of Audit Committee & Nomination and Remuneration Committee which may lead to concentration of power; Director is accountable as Nomination and Remuneration Committee Chairperson, since, Board is non-compliant.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern w.r.t. merits of the Director. Non-Compliant with Companies Act, 2013: Prior approval not sought for re-appointment for 2nd term as ID. Governance Concern: Same Director is serving as Chairperson of AC & NRC which may lead to concentration of power; Director is accountable as NRC Chairperson, since, Board is non-compliant u/s 152 of the Companies Act, 2013.
- Nippon India Mutual FundNon-Compliant with Companies Act, 2013: Prior approval not sought for re-appointment for 2nd term as ID.
1 for5 against - To Approve the re-appointment of Dr. Sunil Waghmare (DIN: 08906042) as an Independent Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundGovernance Concern: Director is accountable as Nomination and Remuneration Committee member, since, Board is non-compliant.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern w.r.t. merits of the Director. Governance Concern: Director is accountable as NRC member, since, Board is non-compliant u/s 152 of the Companies Act, 2013.
- Nippon India Mutual FundGovernance Concern: Director is accountable as NRC member, since, Board is non-compliant u/s 152 of the Companies Act, 2013.
1 for5 against - To Approve the appointment of Mr. Chetan Navinchandra Shah (DIN: 08038633) as a Non-Executive Independent Director of the Company6 for0 against
5 earlier meetings
Mutual fund votes, meeting of 10 Sep 2024, 4 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Adoption of Audited standalone and consolidated financial statements.4 for0 against
- To confirm the payment of Interim Dividend and to declare a Final Dividend on Equity Shares for the financial year 2023-24.n4 for0 against
- To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN: 07759722) as director, who retires by rotation and being offers herself for re-appointment.4 for0 against
- To re-appoint the statutory auditor of the company and fix their remuneration.n
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual FundNo concern on the merit of proposed Auditor. Non-Compliant with SEBI LODR Regulation: Proposed remuneration of statutory auditors not disclosed. Governance concern: Portion of Non-Audit Fee >50%
- Motilal Oswal Mutual FundNon-Compliant with law.
1 for3 against - To re-appoint Mrs. Aarti Mitesh Jhunjhunwala (DIN: 07759722) as whole-time director of the company.n4 for0 against
- To approve the appointment of Dr. Amit Prabhakar Pratap as an Independent Director of the company.4 for0 against
1 proposal not matched to one resolution
Ratification of remuneration of Rs. 45,000/- per annum plus applicable taxes and reimbursement of travel and out of pocket expenses, to be paid to M/s. V. J. Talati and Co., Cost Accountants (Firm Registration No. R/00213), who have been appointed by the Board of Directors on the recommendation of the Audit Committee, as the Cost Auditors of the Company, to conduct the audit of the cost records maintained by the Company for the Financial Year ending March 31, 2025.MoreLess
4 for0 against
Mutual fund votes, meeting of 27 Jun 2024, 3 fund houses
- ISSUE OF 28,15,049 SHARE WARRANTS, CONVERTIBLE INTO EQUITY SHARES ON PREFERENTIAL BASIS TO THE PERSONS BELONGING TO THE NON-PROMOTER CATEGORY
Against Groww Mutual Fund, Motilal Oswal Mutual Fund
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Price of Warrants almost at par with equity shares; Cumulative dilution appears to be excessive.
1 for2 against - ISSUANCE OF 28,15,049 EQUITY SHARES ON PREFERENTIAL BASIS TO THE PERSONS BELONGING TO THE NON-PROMOTER CATEGORY
Against Groww Mutual Fund, Motilal Oswal Mutual Fund
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Cumulative dilution appears to be excessive
1 for2 against
Mutual fund votes, meeting of 9 Mar 2024, 3 fund houses
To create, issue, offer and allot, from time to time in one or more tranches, up to 42,00,600 Share Warrants (Warrants) each Warrant convertible into 1 Equity Share of the Face Value of Rs. 2/- each on a preferential basis, for cash, at an issue price of Rs.346/- including premium of Rs. 344/- each per Warrant which is more than the price as determined by the board in accordance with the pricing guidelines prescribed under Chapter VII of the SEBI ICDR Regulations (Warrant Issue Price) aggregating to an amount not exceeding Rs.1,45,34,07,600.MoreLess
Against Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Price of Warrants almost at par with equity shares; Cumulative dilution appears to be excessive.
- Nippon India Mutual FundCumulative dilution is excessive
0 for3 againstTo create, issue, offer and allot, on a preferential basis, up to 39,02,000 Equity Shares of face value of Rs.02/- each fully paid up, for cash, to be issued at a price of Rs. 346/- including premium of Rs.344/- each per Equity Share which is more than the price as determined by the board in accordance with the pricing guidelines prescribed under Chapter VII of the SEBI ICDR Regulations (Issue Price) aggregating to an amount not exceeding Rs.1,35,00,92,000.MoreLess
Against Groww Mutual Fund, Motilal Oswal Mutual Fund
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Cumulative dilution appears to be excessive.
1 for2 against
Mutual fund votes, meeting of 15 Sep 2023, 2 fund houses
- Adoption of Audited Standalone and Consolidated Financial Statements for the Financial year ended 31 March 20232 for0 against
- Declaration of Dividend2 for0 against
- Appointment of a Director retiring by rotation
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundPersistent Non-compliance u/S 152 of the Act
1 for1 against - Remuneration of Cost Auditors for the Financial Year 31 March 20242 for0 against
- Raising of funds through issue of securities2 for0 against
- Contract with Related Parties
Against Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Motilal Oswal Mutual FundInadequate disclosure; Intent is unclear
- Nippon India Mutual FundInadequate disclosure
0 for2 against
Mutual fund votes, meeting of 5 Aug 2022, 1 fund house
- Adoption of Audited Standalone and Consolidated Financial Statements for the Financial year ended 31 March 20221 for0 against
- Appointment of a Director retiring by rotation1 for0 against
- Declaration of Dividend1 for0 against
- Remuneration of Cost Auditors for the Financial Year 31 March 20231 for0 against
- Re-appointment and Revision in the remuneration payable to Mr. Surendrakumar Tibrewala, Managing Director of the Company with effect from 1st October, 20221 for0 against
- Re-appointment and Revision in the remuneration payable to Mr. Sanjay Tibrewala, Whole Time Director of the Company with effect from 1st October, 20221 for0 against
- Raising of funds through issue of securities1 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
- 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 Mar 2026. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. 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.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesMay 2024, checked by ICRA Limited | 91.96 | Working Capital Requirement | 16.76 | 16.76 | No |
| Preferential IssuesMay 2024, checked by ICRA Limited | 91.96 | Expansion of Business of the Company | 55.76 | 55.76 | No |
| Preferential IssuesMay 2024, checked by ICRA Limited | 91.96 | General Corporate Business | 19.45 | 19.45 | No |
| Preferential IssuesJul 2025, checked by ICRA Limited | 136.32 | Working Capital Requirement | 10.27 | 10.27 | No |
| Preferential IssuesJul 2025, checked by ICRA Limited | 136.32 | Expansion of Business of the Company | 124.48 | 124.48 | No |
| Preferential IssuesJul 2025, checked by ICRA Limited | 136.32 | General Corporate Purpose | 16.09 | 16.09 | No |