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FDC MD, chairman, board of directors and AGM

NSE: FDCBSE: 531599Pharmaceuticals & BiotechnologySmall Cap

Last close ₹338.70down ₹1.75 (0.51%)BSE ₹338.85

Share price at the NSE close on 23 Oct 2026. Previous close ₹340.45.

52-week range of traded prices to 23 Oct 2026
₹312.95Low, 30 Mar 2026₹473.60High, 3 Nov 2025
Market cap
₹5,514 Cr719th largest listed
P/E
18.8
P/B
2.2
Dividend yield
1.48%
ROE
12.3%
ROCE
11.1%
Debt to equity
0.00
Volume, NSE
1,72,36044.4% delivered

FDC board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorMohan Anand ChandavarkarRelated to the promoter
  • Company Secretary and Compliance OfficerVarsharani Katre

10 directors5 independent4 executive1 non-executive

  • Mohan Anand Chandavarkar · Chairperson and managing directorExecutive · joined Apr 1967 · reappointed Apr 2024 · 1 listed board · 2 committee seats
  • Nandan Mohan ChandavarkarExecutive · joined Sep 1993 · reappointed Mar 2024 · 1 listed board
  • Ashok Anand ChandavarkarExecutive · joined Mar 1987 · reappointed Mar 2026 · 1 listed board · 1 committee seat
  • Ameya Ashok ChandavarkarExecutive · joined Apr 2002 · reappointed Nov 2024 · 1 listed board
  • Nomita Ramdas ChandavarkarNon-executive · joined Jun 2014 · 1 listed board
  • Mahesh Chandru BijlaniIndependent · joined May 2019 · reappointed May 2024 · 89 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Vijay Suresh ManiarIndependent · joined Aug 2022 · 50 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 3 as chair
  • Vijay Nautamlal BhattIndependent · joined May 2023 · 40 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 2 as chair
  • Charuta Nityanath MandkeIndependent · joined Aug 2024 · 26 months as independent · 1 listed board · 1 as independent
  • Kishore Mukund SaletoreIndependent · joined Apr 2026 · 6 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 3 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
  • Uday Kumar Gurkar, left 1 Apr 2026: Tenure Completion

Committees and meetings

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

  • Board

    • 5 Aug 20269 of 10 present5 independent · 69 days in between
    • 27 May 202610 of 10 present5 independent

  • Audit Committee

    Chair Vijay Suresh Maniar

    Kishore Mukund Saletore, Mohan Anand Chandavarkar, Vijay Nautamlal Bhatt

    • 5 Aug 20264 of 4 present3 independent · 69 days in between
    • 27 May 20264 of 4 present3 independent
    • 28 Apr 20265 of 5 present2 independent

  • Nomination and remuneration committee

    Chair Mahesh Chandru Bijlani

    Vijay Suresh Maniar, Vijay Nautamlal Bhatt

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair Mahesh Chandru Bijlani

    Mohan Anand Chandavarkar, Ashok Anand Chandavarkar

    • 27 May 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Ameya Ashok Chandavarkar

    Mahesh Chandru Bijlani, Vijay Suresh Maniar, Shashank Vyapari, Anant Kharche

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Mohan Anand Chandavarkar

    Ashok Anand Chandavarkar, Nomita Ramdas Chandavarkar, Charuta Nityanath Mandke

    • 5 Aug 20263 of 4 present1 independent · 98 days in between

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.

  • BSR & Co LLPPeer-review certificate valid to Jul 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.

FDC 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.FDC dividend history

Annual general meeting, 24 Sep 2026

56,043 shareholders on the register on 17 Sep 2026; present: 7 promoters and 57 others; votes counted by Mr. Sanjay Dholakia / M/s. Sanjay Dholakia & Associates.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Standalone Financial Statement of the Company for the Financial Year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.61% · promoters 100.00% · institutions 91.09% · other public 2.55%

  2. ADOPTION OF THE AUDITED CONSOLIDATED FINANCIAL STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2026 ALONG WITH THE REPORT OF AUDITORS THEREON
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.61% · promoters 100.00% · institutions 91.09% · other public 2.55%

  3. RE-APPOINTMENT OF MR. ASHOK ANAND CHANDAVARKAR (DIN: 00042719) EXECUTIVE DIRECTOR, WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERED HIMSELF FOR RE-APPOINTMENT
    OrdinaryPromoters have an interest in it
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 1.40% · other public 0.20%

    Turnout: all 74.64% · promoters 100.00% · institutions 91.42% · other public 2.55%

  4. RATIFICATION OF THE REMUNERATION OF THE COST AUDITORS FOR THE FINANCIAL YEAR 2026-27
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.20%

    Turnout: all 74.64% · promoters 100.00% · institutions 91.42% · other public 2.55%

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, 27 May 2026, 1 resolution

54,059 shareholders on the register on 17 Apr 2026; votes counted by Sanjay Dholakia / M/s. Sanjay Dholakia & Associates.The company's voting result (opens in a new tab)

  1. APPOINTMENT OF MR. KISHORE MUKUND SALETORE (DIN: 01705850) AS AN INDEPENDENT DIRECTOR OF THE COMPANY
    Special
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 1.76% · other public 5.09%

    Turnout: all 78.48% · promoters 100.00% · institutions 92.84% · other public 3.39%

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, 27 Jan 2026, 1 resolution

55,242 shareholders on the register on 19 Dec 2025; votes counted by Sanjay Dholakia / M/s. Sanjay Dholakia & Associates.The company's voting result (opens in a new tab)

  1. 1 - “RESOLVED THAT pursuant to the provisions of Sections 12 and other applicable provisions of the Companies Act, 2013 (“the Act”) consent of the members of the Company, be and is hereby accorded for shifting the Registered Office of the Company from Waluj to “FDC House, C-11 & 12, Dalia Industrial Estate, Oshiwara Village, Off New Link Road, Andheri - West, Mumbai – 400053.MoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.16%

    Turnout: all 78.39% · promoters 100.00% · institutions 92.80% · other public 3.17%

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, 25 Sep 2025, 6 resolutions

54,579 shareholders on the register on 18 Sep 2025; present: 6 promoters and 61 others; votes counted by Mr. Sanjay Dholakia / M/S Sanjay Dholakia & Associates.The company's voting result (opens in a new tab)

  1. To 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.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.99%

    Turnout: all 78.39% · promoters 100.00% · institutions 92.85% · other public 0.12%

  2. To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 along with Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.00%

    Turnout: all 78.39% · promoters 100.00% · institutions 92.85% · other public 0.12%

  3. To re-appoint Mr. Ameya Ashok Chandavarkar, (DIN:00043238) CEO-International Business & Executive Director, who retires by rotation and being eligible, offered himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 2.19% · other public 7.28%

    Turnout: all 78.41% · promoters 100.00% · institutions 93.13% · other public 0.12%

  4. Ratification of the remuneration of the Cost Auditors for the Financial Year 2025–26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.49%

    Turnout: all 78.41% · promoters 100.00% · institutions 93.13% · other public 0.12%

  5. Re-appointment of Mr. Ashok Anand Chandavarkar (DIN:00042719) as an Executive Director of the Company for a period of five years w.e.f. 1st March, 2026.
    SpecialPromoters have an interest in it
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.95% · other public 7.36%

    Turnout: all 78.41% · promoters 100.00% · institutions 93.13% · other public 0.12%

  6. Appointment of M/s. Sanjay Dholakia & Associates, Practicing Company Secretaries, as Secretarial Auditors of the Company for a term of five years for FY 2025-26 to FY 2029-30
    Ordinary
    96.51% for3.49% against

    Against: promoters 0.00% · institutions 31.32% · other public 7.23%

    Turnout: all 78.41% · promoters 100.00% · institutions 93.13% · other public 0.12%

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, 26 Sep 2024, 7 resolutions

Present: 8 promoters and 56 others.The company's voting result (opens in a new tab)

  1. To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024 together with the Reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.78%

    Turnout: all 77.49% · promoters 100.00% · institutions 89.65% · other public 0.42%

  2. To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 along with Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.71%

    Turnout: all 77.49% · promoters 100.00% · institutions 89.65% · other public 0.42%

  3. To re-appoint Ms. Nomita R. Chandavarkar (DIN: 00042332) as a Director, who retires by rotation and being eligible, offered herself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 1.30% · other public 0.97%

    Turnout: all 54.84% · promoters 67.45% · institutions 89.96% · other public 0.42%

  4. Ratification of the remuneration of the Cost Auditors for the Financial Year 2024–25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.78%

    Turnout: all 77.51% · promoters 100.00% · institutions 89.96% · other public 0.41%

  5. Re-appointment of Mr. Ameya A. Chandavarkar (DIN: 00043238) as a CEO-International Business & Executive Director of the Company.
    OrdinaryPromoters have an interest in it
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.77% · other public 0.95%

    Turnout: all 55.44% · promoters 68.32% · institutions 89.96% · other public 0.41%

  6. Appointment of Dr. Charuta Nityanath Mandke (DIN: 08953268) as Non Executive Independent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.02%

    Turnout: all 77.51% · promoters 100.00% · institutions 89.96% · other public 0.41%

  7. Approval of Payment of Commission to Non- Executive Directors of the Company for each financial year commencing from April 01, 2024.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.01% · other public 3.91%

    Turnout: all 77.51% · promoters 100.00% · institutions 89.96% · other public 0.41%

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, 20 Jul 2024, 1 resolution

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

  1. RE-APPOINTMENT OF DR. MAHESH BIJLANI (DIN: 08447258) AS AN NON- EXECUTIVE & INDEPENDENTnDIRECTOR OF THE COMPANY FOR A PERIOD OF 5 YEARS WITH EFFECT FROM MAY 10, 2024
    Special
    96.15% for3.85% against

    Against: promoters 0.00% · institutions 34.50% · other public 0.38%

    Turnout: all 79.41% · promoters 100.00% · institutions 91.39% · other public 4.37%

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.

Annual general meeting, 27 Sep 2023, 7 resolutions

Present: 9 promoters and 61 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Standalone Financial Statements of the Company for the Financial year ended March 31, 2023 together with the Reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.26%

    Turnout: all 80.18% · promoters 100.00% · institutions 92.59% · other public 3.53%

  2. Adoption of the Audited Consolidated Financial Statements of the Company for the Financial year ended March 31, 2023 along with Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.26%

    Turnout: all 80.18% · promoters 100.00% · institutions 92.59% · other public 3.53%

  3. Re-appointment of Mr. Ashok A. Chandavarkar (DIN: 00042719) as a Director, who retires by rotation and being eligible, offered himself for Re-appointment.
    OrdinaryPromoters have an interest in it
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.64% · other public 0.56%

    Turnout: all 58.15% · promoters 68.32% · institutions 92.89% · other public 3.53%

  4. Ratification of the Remuneration of Cost Auditor for the Financial Year 2023-24.
    Ordinary
    100.00% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.57%

    Turnout: all 80.22% · promoters 100.00% · institutions 92.89% · other public 3.53%

  5. Re-appointment of Mr. Nandan M. Chandavarkar (DIN: 00043511) as a Joint Managing Director of the Company for a further period of 5 (five) years with effect from March 01, 2024 to February 28, 2029, not liable to retire by rotation.MoreLess
    OrdinaryPromoters have an interest in it
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.31% · other public 0.58%

    Turnout: all 55.30% · promoters 64.23% · institutions 92.89% · other public 3.53%

  6. Re-appointment of Mr. Mohan A. Chandavarkar (DIN: 00043344) as a Managing Director of the Company for a further period of 5 (five) years with effect from April 01, 2024 to March 31, 2029, not liable to retire by rotation.MoreLess
    SpecialPromoters have an interest in it
    99.03% for0.97% against

    Against: promoters 0.00% · institutions 5.40% · other public 0.56%

    Turnout: all 55.30% · promoters 64.23% · institutions 92.89% · other public 3.53%

  7. Re-appointment of Ms. Nomita R. Chandavarkar (DIN: 00042332) as a Non-Executive Non-Independent Director of the Company for a term of 5 (Five) consecutive years with effect from June 02, 2024 to June 01, 2029 and shall be liable to retire by rotation.MoreLess
    OrdinaryPromoters have an interest in it
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.34% · other public 0.59%

    Turnout: all 57.54% · promoters 67.45% · institutions 92.89% · other public 3.53%

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 Jul 2023, 1 resolution

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

  1. Appointment of Mr. Vijay Nautamlal Bhatt (DIN: 00751001) as an Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.74%

    Turnout: all 81.48% · promoters 100.00% · institutions 94.05% · other public 4.80%

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.Funds that hold it

Mutual fund votes, meeting of 24 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Adoption of the Audited Standalone Financial Statement of the Company for the Financial Year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon.
    2 for0 against
  • ADOPTION OF THE AUDITED CONSOLIDATED FINANCIAL STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2026 ALONG WITH THE REPORT OF AUDITORS THEREON
    2 for0 against
  • RE-APPOINTMENT OF MR. ASHOK ANAND CHANDAVARKAR (DIN: 00042719) EXECUTIVE DIRECTOR, WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERED HIMSELF FOR RE-APPOINTMENT
    2 for0 against
  • RATIFICATION OF THE REMUNERATION OF THE COST AUDITORS FOR THE FINANCIAL YEAR 2026-27
    2 for0 against

Mutual fund votes, meeting of 27 May 2026, 6 fund houses

  • APPOINTMENT OF MR. KISHORE MUKUND SALETORE (DIN: 01705850) AS AN INDEPENDENT DIRECTOR OF THE COMPANY
    6 for0 against
6 earlier meetings

Mutual fund votes, meeting of 27 Jan 2026, 9 fund houses

  • 1 - “RESOLVED THAT pursuant to the provisions of Sections 12 and other applicable provisions of the Companies Act, 2013 (“the Act”) consent of the members of the Company, be and is hereby accorded for shifting the Registered Office of the Company from Waluj to “FDC House, C-11 & 12, Dalia Industrial Estate, Oshiwara Village, Off New Link Road, Andheri - West, Mumbai – 400053.MoreLess
    9 for0 against

Mutual fund votes, meeting of 25 Sep 2025, 9 fund houses

  • To 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.
    9 for0 against
  • To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 along with Report of the Auditors thereon.
    9 for0 against
  • To re-appoint Mr. Ameya Ashok Chandavarkar, (DIN:00043238) CEO-International Business & Executive Director, who retires by rotation and being eligible, offered himself for re-appointment.
    9 for0 against
  • Ratification of the remuneration of the Cost Auditors for the Financial Year 2025–26.
    9 for0 against
  • Re-appointment of Mr. Ashok Anand Chandavarkar (DIN:00042719) as an Executive Director of the Company for a period of five years w.e.f. 1st March, 2026.
    9 for0 against
  • Appointment of M/s. Sanjay Dholakia & Associates, Practicing Company Secretaries, as Secretarial Auditors of the Company for a term of five years for FY 2025-26 to FY 2029-30
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundProposed audit fee payable to Secretarial Auditors not disclosed by the Company in the Notice.
    • Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on merit of proposed secretarial auditors. Non-Compliant with Regulation 36(5) of SEBI (LODR), 2015: Proposed audit fee payable to Secretarial Auditors not disclosed by the Company in the Notice.
    • Nippon India Mutual FundNon-Compliant with Regulation 36(5) of SEBI (LODR), 2015: Proposed audit fee payable to Secretarial Auditors not disclosed by the Company in the Notice.
    5 for4 against

Mutual fund votes, meeting of 26 Sep 2024, 12 fund houses

  • To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024 together with the Reports of the Board of Directors and Auditors thereon.
    12 for0 against
  • To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 along with Report of the Auditors thereon.
    12 for0 against
  • To re-appoint Ms. Nomita R. Chandavarkar (DIN: 00042332) as a Director, who retires by rotation and being eligible, offered herself for re-appointment.
    12 for0 against
  • Ratification of the remuneration of the Cost Auditors for the Financial Year 2024–25.
    12 for0 against
  • Re-appointment of Mr. Ameya A. Chandavarkar (DIN: 00043238) as a CEO-International Business & Executive Director of the Company.
    12 for0 against
  • Appointment of Dr. Charuta Nityanath Mandke (DIN: 08953268) as Non Executive Independent Director of the Company.
    12 for0 against
  • Approval of Payment of Commission to Non- Executive Directors of the Company for each financial year commencing from April 01, 2024.
    Against Axis Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual FundThe company received approval for payment of commission upto 1% of net profits capped at Rs. 0.3 mn per annum per Non-Executive Director at the FY22 AGM. In FY24, the company paid Rs. 2.4 mn as aggregate commission to non-executive directors, which is 0.06% of standalone PBT. The company now seeks to revise commission (in addition to sitting fees) from Rs. 0.3 mn to Rs. 0.5 mn per director per annum, not exceeding 1% of net profits of the company, to its non-executive directors from 1 April 2024. The proposed commission to non-executive directors is reasonable. However, the company has not defined a tenure for payment of commission and the resolution is effectively valid for perpetuity. We believe shareholders must get an opportunity to periodically approve such payments and therefore do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    10 for2 against

Mutual fund votes, meeting of 20 Jul 2024, 13 fund houses

  • RE-APPOINTMENT OF DR. MAHESH BIJLANI (DIN: 08447258) AS AN NON- EXECUTIVE & INDEPENDENTnDIRECTOR OF THE COMPANY FOR A PERIOD OF 5 YEARS WITH EFFECT FROM MAY 10, 2024
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, prior approval of shareholders not obtained for re-appointment as an ID. Governance Concern: Inadequate disclosures regarding attendance performance.
    • Nippon India Mutual FundShareholder's approval not obtained
    9 for4 against

Mutual fund votes, meeting of 27 Sep 2023, 9 fund houses

  • Adoption of the Audited Standalone Financial Statements of the Company for the Financial year ended March 31, 2023 together with the Reports of the Board of Directors and Auditors thereon
    9 for0 against
  • Adoption of the Audited Consolidated Financial Statements of the Company for the Financial year ended March 31, 2023 along with Report of the Auditors thereon.
    9 for0 against
  • Re-appointment of Mr. Ashok A. Chandavarkar (DIN: 00042719) as a Director, who retires by rotation and being eligible, offered himself for Re-appointment.
    9 for0 against
  • Ratification of the Remuneration of Cost Auditor for the Financial Year 2023-24.
    9 for0 against
  • Re-appointment of Mr. Nandan M. Chandavarkar (DIN: 00043511) as a Joint Managing Director of the Company for a further period of 5 (five) years with effect from March 01, 2024 to February 28, 2029, not liable to retire by rotation.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance Concern: No absolute cap on variable pay.
    8 for1 against
  • Re-appointment of Mr. Mohan A. Chandavarkar (DIN: 00043344) as a Managing Director of the Company for a further period of 5 (five) years with effect from April 01, 2024 to March 31, 2029, not liable to retire by rotation.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance Concern: No absolute cap on variable pay.
    8 for1 against
  • Re-appointment of Ms. Nomita R. Chandavarkar (DIN: 00042332) as a Non-Executive Non-Independent Director of the Company for a term of 5 (Five) consecutive years with effect from June 02, 2024 to June 01, 2029 and shall be liable to retire by rotation.MoreLess
    9 for0 against

Mutual fund votes, meeting of 14 Jul 2023, 8 fund houses

  • Appointment of Mr. Vijay Nautamlal Bhatt (DIN: 00751001) as an Independent Director of the Company.
    8 for0 against

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

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyDepartment of Goods & Service Tax, Government of MaharashtraSince 7 Jul 2026

    GST provisions of MGST/IGST Acts, in respect of scrutiny of GST returns

    Tax payment towards recovery of reimbursement expenses of clearing and forwarding charges and interest and penalty on such amounts under section 73 and section 50 of the MGST/CGST Acts for the period August, 2021.MoreLess
  • Fine or penaltyDepartment of Goods & Service Tax, Government of MaharashtraSince 20 Aug 2026

    GST provisions of MGST/IGST Acts, in respect of scrutiny of GST returns

    Tax payment towards excess ITC, Tax head mismatch & credit notes and interest and penalty on such amounts under section 73 and section 50 of the MGST/CGST
  • Fine or penaltyDepartment of Goods & Service Tax, Government of Tamil NaduSince 16 Sep 2026

    GST provisions of MGST/IGST Acts, in respect of scrutiny of GST returns

    Short payment of tax under Reverse Charge Mechanism (RCM), along with applicable interest and penalty.
  • Fine or penaltyDepartment of Goods & Service Tax, Government of Tamil NaduSince 16 Sep 2026

    GST provisions of MGST/IGST Acts, in respect of scrutiny of GST returns

    Short payment of tax under Reverse Charge Mechanism (RCM), along with applicable interest and penalty.
  • Tax disputePr Comm of Income Tax -1Since 8 Dec 2023
    Income Tax Department filed an appeal before Hon'ble Bombay High Court against the favourable ITAT order which is in the Pre-admission stage
    At the filing before: Income Tax Department filed an appeal before Hon'ble Bombay High Court against the favourable ITAT order which is in the Pre-admission stage.
  • Tax disputePr Comm of Income Tax -1Since 26 Dec 2022
    Income Tax Department filed an appeal before Hon'ble Bombay High Court against the favourable ITAT order which is in the Pre-admission stage
    At the filing before: Income Tax Department filed an appeal before Hon'ble Bombay High Court against the favourable ITAT order which is in the Pre-admission stage.
  • Tax disputeDCIT - CIRCLE 9(3)(1), MUMBAISince 24 Jun 2016
    Commissioner of Income Tax (Appeals) [CIT(A)] has passed an order disposing of the appeal on 29.09.2026 u/s 250 of the Income-tax Act, 1961.
    At the filing before: Hearing in process
  • Tax disputeDCIT - CIRCLE 9(3)(1), MUMBAISince 27 May 2017
    Commissioner of Income Tax (Appeals) [CIT(A)] has passed an order disposing of the appeal on 29.09.2026 u/s 250 of the Income-tax Act, 1961.
    At the filing before: Hearing in process
33 more
  • Tax disputeDCIT - CIRCLE 9(3)(1), MUMBAISince 23 Mar 2018
    Commissioner of Income Tax (Appeals) [CIT(A)] has passed an order disposing of the appeal on 29.09.2026 u/s 250 of the Income-tax Act, 1961.
    At the filing before: Written submission ready. Awaiting for hearing
  • Tax disputeDCIT - CIRCLE 9(3)(1), MUMBAISince 30 Jan 2018
    Hearing in process
    At the filing before: Written submissions made before the adjudicating authority (NFAC)
  • Tax disputeJCIT (OSD) (TDS) 1(2), MUMBAISince 23 Apr 2019
    Hearing in process
    At the filing before: Written submissions made before the adjudicating authority (NFAC)
  • Tax disputeACIT - CIRCLE 9(3)(1), MUMBAISince 24 Mar 2020
    Commissioner of Income Tax (Appeals) [CIT(A)] has passed an order disposing of the appeal on 29.09.2026 u/s 250 of the Income-tax Act, 1961.
    At the filing before: Pending for hearing
  • Tax disputePr Comm of Income Tax -1Since 17 Aug 2023
    Income Tax Department filed an appeal before Hon'ble Bombay High Court against the favourable ITAT order which is in the Pre-admission stage
  • Tax disputeJCIT (OSD) (TDS) 1(2), MUMBAISince 24 Apr 2019
    Hearing in process
    At the filing before: Written submissions made before the adjudicating authority (NFAC)
  • Tax disputeACIT - CIRCLE 9(3)(1), MUMBAISince 21 Jan 2020
    Hearing in process
    At the filing before: Written submissions made before the adjudicating authority (NFAC)
  • Tax disputeADD CIT/ JCIT/DCIT/ ACIT/ITO, NeACSince 20 May 2021
    Hearing in process
    At the filing before: Written submissions made before the adjudicating authority (NFAC)
  • Tax disputeMUM-C-(413)(1)Since 20 Apr 2024
    Hearing in process
    At the filing before: Written submissions made before the adjudicating authority (NFAC)
  • Tax disputeMUM-C-(413)(1)Since 21 Oct 2022
    Hearing in process
    At the filing before: Appeal filed with National Faceless Appeal Centre, Delhi (NFAC)
  • Tax disputeMUM-C-(413)(1)Since 25 Apr 2024
    Hearing in process
    At the filing before: Appeal filed with National Faceless Appeal Centre, Delhi (NFAC)
  • Tax disputeMUM-C-(413)(1)Since 17 Apr 2025
    Hearing in process
    At the filing before: Appeal filed with National Faceless Appeal Centre, Delhi (NFAC)
  • Tax disputeMUM-C-(413)(1)Since 13 Mar 2026
    Hearing in process
    At the filing before: Appeal filed with National Faceless Appeal Centre, Delhi (NFAC)
  • Tax disputeMUM-C-(413)(1)Since 7 Apr 2026
    Hearing in process
    At the filing before: Appeal filed with National Faceless Appeal Centre, Delhi (NFAC)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 23 Aug 2023
    Appeal submitted with GSTAT on 30.06.2026, Awaiting for Personal Hearing.
    At the filing before: Pending for Appeal Submission. Appeal not filed due to the GST Tribunal not being constituted by the CBIC. Now Tribunal has been constituted. (i.e. F.Y. 2017-18)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 18 Dec 2023
    Appeal submitted with GSTAT on 30.06.2026. Awaiting for Personal Hearing.
    At the filing before: Appeal submitted with GST Appellate Authority, Personal Hearing awaited. (F.Y. 2017-18)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 3 Jun 2024
    Appeal submitted with GSTAT on 30.06.2026. Awaiting for Personal Hearing.
    At the filing before: Appeal submitted with GST Appellate Authority, Personal Hearing awaited.(F.Y. 2018-19)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 29 Jul 2024
    Appeal submitted with GST Appellate Authority, Personal Hearing has been completed and awaiting the order.
    At the filing before: Appeal submitted with GST Appellate Authority, Personal Hearing awaited. (F.Y. 2019-20)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 19 Aug 2024
    Appeal submitted with GST Appellate Authority, Personal Hearing awaited.
    At the filing before: Appeal submitted with GST Appellate Authority, Personal Hearing awaited. (F.Y. 2019-20)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 30 Jan 2025
    Pending for Appeal Submission with GSTAT, to be submitted on or before 18.11.2026.
    At the filing before: Pending for submission of Appeal with GSTAT. Personal Hearing awaited. (F.Y. 2020-21)
  • Tax disputePrincipal Commissioner of Customs (Preventive) CCP, West Bengal, Custom House, KolkataSince 18 Feb 2025
    Appeal submitted with GST Appellate Authority, Personal Hearing awaited
    At the filing before: Appeal submitted with GST Appellate Authority, Personal Hearing awaited. (F.Y. 2019-20 & 2020-21)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 12 Dec 2025
    Appeal submitted with GST Appellate Authority, Personal Hearing awaited.
    At the filing before: Pending for Appeal Submission with GST Appellate Authority on or before 10.03.2026 (F.Y. 2021-22)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 22 Dec 2025
    Appeal submitted with GST Appellate Authority, Personal Hearing awaited.
    At the filing before: Pending for Appeal Submission with GST Appellate Authority on or before 21.03.2026 (F.Y. 2021-22)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 30 Dec 2025
    Appeal submitted with GST Appellate Authority, Personal Hearing awaited.
    At the filing before: Pending for Appeal Submission with GST Appellate Authority on or before 29.03.2026 (F.Y. 2021-22)
  • Tax disputeGujarat Commercial Tax DepartmentSince 5 Apr 2007
    Appeal submitted with VAT Appellate Authority, Personal Hearing awaited.
    At the filing before: Appeal submitted with VAT Appellate Authority, Personal Hearing awaited. (F.Y. 2002-03)
  • Tax disputeGujarat Commercial Tax DepartmentSince 25 Mar 2015
    Appeal submitted with VAT Appellate Authority, Personal Hearing awaited.
    At the filing before: Appeal submitted with VAT Appellate Authority, Personal Hearing awaited. (F.Y. 2010-11)
  • Tax disputeGujarat Commercial Tax DepartmentSince 25 Mar 2015
    ppeal submitted with VAT Appellate Authority, Personal Hearing awaited.
    At the filing before: Appeal submitted with VAT Appellate Authority, Personal Hearing awaited. (F.Y. 2010-11)
  • Tax disputeWest Bengal Revision by Appellate and Revisional BoardSince 30 Jun 2007
    Revison Petition filed with VAT Appellate Authority, Personal Hearing awaited.
    At the filing before: Revison Petition filed with VAT Appellate Authority, Personal Hearing awaited. (F.Y. 2002-03)
  • Tax disputeWest Bengal Revision by Appellate and Revisional BoardSince 20 Jan 2011
    Revison Petition filed with VAT Appellate Authority, Personal Hearing awaited.
    At the filing before: Revison Petition filed with VAT Appellate Authority, Personal Hearing awaited. (F.Y. 2003-04)
  • Tax disputeWest Bengal Revision by Appellate and Revisional BoardSince 28 Mar 2013
    Revison Petition filed with VAT Appellate Authority, Personal Hearing awaited.
    At the filing before: Revison Petition filed with VAT Appellate Authority, Personal Hearing awaited. (F.Y. 2006-07)
  • Tax disputeThe Commissioner of Central ExciseSince 31 Jul 2008
    Writ Petition filed with Hon'ble Bombay High Court. Personal Hearing awaited.
    At the filing before: Writ Petition filed with Hon'ble Bombay High Court. Personal Hearing awaited (F.Y. 2006-07)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 16 Sep 2026
    Pending for Appeal Submission with Jt. Commissioner of State
    At the filing before: Pending for Appeal Submission with Jt. Commissioner of State (F.Y. 2022-23)
  • Tax disputeGoods & Service Tax Department (Central/State)Since 16 Sep 2026
    Pending for Appeal Submission with Jt. Commissioner of State
    At the filing before: Pending for Appeal Submission with Jt. Commissioner of State (F.Y. 2023-24)

In the company's own words, from its latest governance filing.

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
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.