Fine Organic Industries logo

Fine Organic Industries CEO, MD, chairman, board of directors and AGM

NSE: FINEORGBSE: 541557Chemicals & PetrochemicalsSmall Cap

Last close ₹5,050.00down ₹47.50 (0.93%)BSE ₹5,054.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹5,097.50.

52-week range of traded prices to 23 Oct 2026
₹3,856.00Low, 27 Jan 2026₹5,666.00High, 7 Oct 2026
Market cap
₹15,483 Cr459th largest listed
P/E
35.3
P/B
5.8
Dividend yield
0.22%
ROE
17.7%
ROCE
17.6%
Debt to equity
0.02
Volume, NSE
29,59046.2% delivered

Fine Organic Industries 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

  • ChairpersonMukesh Maganlal ShahRelated to the promoter
  • Managing directorJayen Ramesh Shah
  • Chief executiveTushar Ramesh Shah
  • Company Secretary and Compliance OfficerPooja Lohor

11 directors6 independent5 executive

  • Mukesh Maganlal Shah · ChairpersonExecutive · joined May 2002 · reappointed Nov 2022 · 1 listed board · 1 committee seat
  • Jayen Ramesh Shah · Managing directorExecutive · joined May 2002 · reappointed Nov 2022 · 1 listed board · 2 committee seats
  • Tushar Ramesh Shah · Chief executiveExecutive · joined May 2002 · reappointed Nov 2022 · 1 listed board · 2 committee seats
  • Bimal Mukesh ShahExecutive · joined Apr 2011 · reappointed Nov 2022 · 1 listed board
  • Nikhil Dattatraya KamatExecutive · joined Jun 2022 · reappointed Jun 2022 · 1 listed board
  • Prakash Krishnaji ApteIndependent · joined Nov 2017 · reappointed Nov 2022 · 103 months as independent · 2 listed boards · 2 as independent · 5 committee seats
  • Kaushik Dwarkadas ShahIndependent · joined Jan 2018 · reappointed Jan 2023 · 101 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Mahesh Pansukhlal SardaIndependent · joined Nov 2017 · reappointed Nov 2022 · 103 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • Thiruvengadam ParthasarathiIndependent · joined Nov 2017 · reappointed Nov 2022 · 103 months as independent · 3 listed boards · 2 as independent · 4 committee seats, 2 as chair
  • Rashi MehtaIndependent · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Shailendra Govind NadkarniIndependent · joined May 2026 · reappointed May 2026 · 1 month as independent · 1 listed board · 1 as independent

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
  • Pratima Umarji, left 3 Nov 2025: Others

Committees and meetings

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

  • Board

    • 19 May 202611 of 11 present6 independent · 95 days in between
    • 12 Feb 20269 of 10 present4 independent

  • Audit Committee

    Chair Mahesh Pansukhlal Sarda

    Prakash Krishnaji Apte, Kaushik Dwarkadas Shah, Thiruvengadam Parthasarathi, Jayen Ramesh Shah, Tushar Ramesh Shah

    • 19 May 20266 of 6 present4 independent · no day in between
    • 18 May 20266 of 6 present4 independent · 94 days in between
    • 12 Feb 20266 of 6 present4 independent

  • Nomination and remuneration committee

    Chair Thiruvengadam Parthasarathi

    Mahesh Pansukhlal Sarda, Mukesh Maganlal Shah, Rashi Mehta

    • 12 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Kaushik Dwarkadas Shah

    Prakash Krishnaji Apte, Mukesh Maganlal Shah, Jayen Ramesh Shah, Tushar Ramesh Shah, Rashi Mehta

    • 18 May 20266 of 6 present3 independent · 94 days in between
    • 12 Feb 20265 of 6 present2 independent

  • Risk Management Committee

    Chair Prakash Krishnaji Apte

    Thiruvengadam Parthasarathi, Jayen Ramesh Shah, Nikhil Dattatraya Kamat, Sonali Bhadani, Rashi Mehta

    • 13 Apr 20264 of 5 present2 independent

  • Corporate Social Responsibility Committee

    Chair Jayen Ramesh Shah

    Prakash Krishnaji Apte, Kaushik Dwarkadas Shah, Mukesh Maganlal Shah, Tushar Ramesh Shah

    • 12 Jun 20265 of 5 present2 independent · 147 days in between
    • 15 Jan 20265 of 5 present2 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 Jun 2026.

  • CNK & AssociatesPeer-review certificate valid to Jul 2027
2 earlier auditors
  • C N K AssociatesNamed in filings from Sep 2025 to Dec 2025
  • B Y & AssociatesNamed 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.

Fine Organic Industries 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.Fine Organic Industries dividend history

Annual general meeting, 18 Aug 2026

83,832 shareholders on the register on 11 Aug 2026; present: 18 promoters and 41 others; votes counted by Kartik Shah / M/s K S & Associates.The company's voting result (opens in a new tab)

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

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  2. Adoption of Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  3. Declaration of Final Dividend of Rs. 11/- (Rupees Eleven Only) per equity share of face value of Rs. 5/- each for the financial year 2025-26
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  4. Appointment of Mr. Nikhil Kamat (DIN:00107233) as a Director, liable to retire by rotation
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.53% · other public 0.24%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  5. Ratification of the remuneration payable to the Cost Auditors for the financial year 2026-27
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  6. Appointment of Mr. Shailendra Nadkarni (DIN:03401830) as Non-Executive and Independent Director of the Company
    Special
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 1.27% · other public 0.24%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  7. Revision in the remuneration of Mr. Mukesh Shah (DIN:00106799), Chairman and Whole-Time Director of the Company
    Special
    96.59% for3.41% against

    Against: promoters 0.00% · institutions 20.97% · other public 8.56%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  8. Revision in the remuneration of Mr. Jayen Shah (DIN:00106919), Managing Director of the Company
    Special
    96.59% for3.41% against

    Against: promoters 0.00% · institutions 20.97% · other public 8.56%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  9. Revision in the remuneration of Mr. Tushar Shah (DIN:00107144), Whole Time-Director and Chief Executive Officer of the Company
    Special
    96.17% for3.83% against

    Against: promoters 0.00% · institutions 23.53% · other public 8.56%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  10. Revision in the remuneration of Mr. Bimal Shah (DIN:03424880), Whole Time Director of the Company
    Special
    96.17% for3.83% against

    Against: promoters 0.00% · institutions 23.53% · other public 8.56%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

  11. Revision in the remuneration of Mr. Nikhil Kamat (DIN:00107233), Whole Time Director of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 1.00%

    Turnout: all 89.58% · promoters 100.00% · institutions 91.46% · other public 0.16%

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, 21 Aug 2025, 8 resolutions

1,01,982 shareholders on the register on 14 Aug 2025; present: 17 promoters and 40 others; votes counted by KARTIK SHAH / M/S KS & ASSOCIATES.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 and 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 0.47%

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

  2. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

  3. To declare a Final Dividend of Rs 11 /- (Rupees Eleven only) per Equity Share of face value of Rs 5/- each for the financial year 2024-25;
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

  4. To appoint Mr. Bimal Shah (DIN: 03424880), who retires by rotation and being eligible, has offered himself for reappointment.
    Ordinary
    96.29% for3.71% against

    Against: promoters 0.00% · institutions 23.25% · other public 11.37%

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

  5. Ratification of the remuneration payable to the Cost Auditors for financial year 2025-26
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.70%

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

  6. Appointment of M/s. CNK & Associates LLP, Chartered Accountants as Statutory Auditors and fix their remuneration.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 1.70%

    Turnout: all 96.35% · promoters 100.00% · institutions 84.70% · other public 1.52%

  7. Appointment of M/s. NKS & Co, Company Secretaries as Secretarial Auditors for the term of 5 (Five) consecutive years.
    Ordinary
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.75% · other public 2.20%

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

  8. Continuation of Mr. Mukesh Maganlal Shah (DIN: 00106799) as Chairman and Whole Time Director of the Company on attaining the age of seventy years.
    SpecialPromoters have an interest in it
    99.56% for0.44% against

    Against: promoters 0.00% · institutions 2.78% · other public 2.25%

    Turnout: all 89.24% · promoters 100.00% · institutions 84.70% · other public 0.15%

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.

Annual general meeting, 21 Aug 2024, 5 resolutions

Present: 18 promoters and 39 others.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, 2024, along with the Report of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.34% · promoters 100.00% · institutions 87.37% · other public 0.18%

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

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

    Turnout: all 89.34% · promoters 100.00% · institutions 87.37% · other public 0.18%

  3. To declare a Final Dividend of Rs. 10/- per equity share of face value of Rs. 5/- each for the financial year ended March 31, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.39%

    Turnout: all 89.34% · promoters 100.00% · institutions 87.37% · other public 0.18%

  4. To appoint a Director in place of Mr. Tushar Shah (DIN: 00107144), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
    Ordinary
    88.95% for11.05% against

    Against: promoters 0.00% · institutions 68.93% · other public 2.59%

    Turnout: all 89.34% · promoters 100.00% · institutions 87.37% · other public 0.18%

  5. Ratification of Remuneration to Cost Auditors for FY 2024-25
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.27%

    Turnout: all 89.34% · promoters 100.00% · institutions 87.37% · other public 0.18%

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.

Postal ballot, 26 Mar 2024, 3 resolutions

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

  1. To consider and approve the re-designation of Mr. Mukesh Shah (DIN: 00106799) from Chairman and Managing Director to Chairman and Whole-time Director ofnthe Company.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.10% · other public 5.71%

    Turnout: all 88.75% · promoters 100.00% · institutions 89.23% · other public 0.33%

  2. To consider and approve the re-designation of Mr. Jayen Shah (DIN: 00106919) from Whole Time Director and Chief Executive Officer to Managing Director of thenCompany.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 6.16%

    Turnout: all 88.75% · promoters 100.00% · institutions 89.23% · other public 0.33%

  3. To consider and approve the appointment of Ms. Rashi Mehta (DIN:10420079) as an Non-Executive and Independent Director of the Company.
    Special
    93.94% for6.06% against

    Against: promoters 0.00% · institutions 39.17% · other public 9.07%

    Turnout: all 88.75% · promoters 100.00% · institutions 89.23% · other public 0.33%

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, 24 Aug 2023, 6 resolutions

Present: 14 promoters and 48 others.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, 2023 ALONG WITH THE REPORT OF THE BOARD OF DIRECTORS AND THE AUDITORS THERON.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 90.38% · promoters 100.00% · institutions 95.72% · other public 2.89%

  2. TO RECEIVE, CONSIDER AND ADOPT THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023 ALONG WITH THE REPORT OF AUDITORS THEREON.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 90.38% · promoters 100.00% · institutions 95.72% · other public 2.89%

  3. TO DECLARE A FINAL DIVIDEND OF RS. 9/- PER EQUITY SHARE OF FACE VALUE OF RS. 5/- EACH FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 90.40% · promoters 100.00% · institutions 95.82% · other public 2.89%

  4. TO APPOINT A DIRECTOR IN PLACE OF MR. JAYEN SHAH (DIN: 0016919), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT.
    Ordinary
    96.95% for3.05% against

    Against: promoters 0.00% · institutions 18.22% · other public 0.22%

    Turnout: all 90.38% · promoters 100.00% · institutions 95.72% · other public 2.88%

  5. RATIFICATION OF REMUNERATION TO COST AUDITORS.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.38% · promoters 100.00% · institutions 95.72% · other public 2.89%

  6. COMMISSION TO NON-EXECUTIVE DIRECTORS OF THE COMPANY (OTHER THAN MANAGING DIRECTOR AND WHOLE TIME DIRECTORS).
    Special
    96.55% for3.45% against

    Against: promoters 0.00% · institutions 20.63% · other public 0.91%

    Turnout: all 90.38% · promoters 100.00% · institutions 95.72% · other public 2.88%

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, 23 Aug 2022, 18 resolutions

Present: 16 promoters and 53 others.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, 2022 along with the Report of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 91.17% · promoters 100.00% · institutions 90.87% · other public 1.98%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022 along with the Report of Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 91.17% · promoters 100.00% · institutions 90.87% · other public 1.98%

  3. To declare a Final Dividend of Rs. 9/- per equity share of face value of Rs. 5/- each for the financial year 2021-22.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  4. To appoint a Director in place of Mr. Mukesh Shah (DIN 00106799), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    97.86% for2.14% against

    Against: promoters 0.00% · institutions 12.14% · other public 0.49%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  5. To re-appoint M/s. B Y Associates, Chartered Accountants as Statutory Auditors of the Company and to fix their remuneration.
    Ordinary
    86.82% for13.18% against

    Against: promoters 0.00% · institutions 74.94% · other public 0.40%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  6. Ratification of Remuneration to Cost Auditors
    Ordinary
    99.53% for0.47% against

    Against: promoters 0.00% · institutions 2.69% · other public 0.43%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  7. Appointment of Mr. Nikhil Kamat as a Director of the Company.
    Ordinary
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 1.33% · other public 0.14%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  8. Appointment of Mr. Nikhil Kamat as a Whole Time Director of the Company.
    Special
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 1.33% · other public 0.19%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  9. Re-Appointment of Mr. Mukesh Shah as a Managing Director of the Company.
    Special
    97.90% for2.10% against

    Against: promoters 0.00% · institutions 11.93% · other public 0.46%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  10. Re-appointment of Mr. Jayen Shah as a Whole Time Director and Chief Executive Officer of the Company.
    Special
    96.93% for3.07% against

    Against: promoters 0.00% · institutions 17.45% · other public 0.21%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  11. Re-appointment of Mr. Tushar Shah as a Whole Time Director and Chief Financial Officer of the Company.
    Special
    96.61% for3.39% against

    Against: promoters 0.00% · institutions 19.29% · other public 0.21%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  12. Re-appointment of Mr. Bimal Shah as a Whole Time Director of the Company.
    Special
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 1.84% · other public 0.43%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  13. Re-appointment of Mr. Prakash Apte as an Independent Non-Executive Director of the Company.
    Special
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.85% · other public 0.23%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  14. Re-appointment of Mr. Thiruvengadam Parthasarathi as an Independent Non-Executive Director of the Company.
    Special
    98.39% for1.61% against

    Against: promoters 0.00% · institutions 9.16% · other public 0.24%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  15. Re-appointment of Mr. Mahesh Sarda as an Independent Non-Executive Director of the Company.
    Special
    98.85% for1.15% against

    Against: promoters 0.00% · institutions 6.51% · other public 0.22%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  16. Re-appointment of Ms. Pratima Umarji as an Independent Non-Executive Director of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 90.13% · promoters 100.00% · institutions 84.99% · other public 1.98%

  17. Re-appointment of Mr. Kaushik Shah as an Independent Non-Executive Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

  18. Commission to Non-Executive Directors of the Company (other than Managing Director and Whole Time Directors.
    Special
    96.66% for3.34% against

    Against: promoters 0.00% · institutions 18.95% · other public 4.69%

    Turnout: all 91.18% · promoters 100.00% · institutions 90.91% · other public 1.98%

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, 24 Aug 2021, 6 resolutions

Present: 17 promoters and 50 others.The company's voting result (opens in a new tab)

  1. 1 a. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2021 along with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.58% · promoters 100.00% · institutions 92.54% · other public 0.24%

  2. 1 b. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2021 along with the Report of Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.58% · promoters 100.00% · institutions 92.54% · other public 0.24%

  3. 2. To declare a Final Dividend of Rs.11/- per equity share of face value Rs.5/- each for the financial year 2020-21 which includes a onetime special dividend of Rs.5/- per equity share on account of golden jubilee year.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 91.59% · promoters 100.00% · institutions 92.54% · other public 0.36%

  4. 3. To appoint a Director in place of Mr. Bimal Shah (DIN 03424880), who retires by rotation and, being eligible, offers himself for re-appointment.
    Ordinary
    99.74% for0.26% against

    Against: promoters 0.00% · institutions 1.41% · other public 0.14%

    Turnout: all 91.58% · promoters 100.00% · institutions 92.54% · other public 0.24%

  5. 4. Commission to Non-executive Directors of the Company (other than Managing Director and Whole Time Directors)
    Ordinary
    92.45% for7.55% against

    Against: promoters 0.00% · institutions 41.75% · other public 1.19%

    Turnout: all 91.58% · promoters 100.00% · institutions 92.54% · other public 0.23%

  6. 5. Ratification of Remuneration to Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.49%

    Turnout: all 91.58% · promoters 100.00% · institutions 92.54% · other public 0.24%

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, 18 Sep 2020, 5 resolutions

Present: 18 promoters and 55 others.The company's voting result (opens in a new tab)

  1. 1. a To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2020 along with the Reports of the Board of Directors and the Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.86%

    Turnout: all 93.95% · promoters 100.00% · institutions 91.34% · other public 0.23%

  2. 1. b To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2020 alongwith the Report of Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.86%

    Turnout: all 93.95% · promoters 100.00% · institutions 91.34% · other public 0.23%

  3. 2. To declare a Final Dividend on Equity Shares for the financial year 2019-20.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.86%

    Turnout: all 93.95% · promoters 100.00% · institutions 91.34% · other public 0.23%

  4. 3. To appoint a Director in place of Mr. Tushar Shah DIN 00107144, who retires by rotation and, being eligible, offers himself for re-appointment.
    Ordinary
    95.38% for4.62% against

    Against: promoters 0.00% · institutions 23.00% · other public 3.21%

    Turnout: all 93.85% · promoters 100.00% · institutions 90.83% · other public 0.23%

  5. 4. To Ratify the Remuneration payable to Ms Y. R. Doshi Associates, Cost Accountants, appointed as Cost Auditors of the Company for the financial year 2020-21
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.55%

    Turnout: all 93.95% · promoters 100.00% · institutions 91.34% · other public 0.23%

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 18 Aug 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Adoption of Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors
    3 for0 against
  • Adoption of Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Auditors thereon.
    3 for0 against
  • Declaration of Final Dividend of Rs. 11/- (Rupees Eleven Only) per equity share of face value of Rs. 5/- each for the financial year 2025-26
    3 for0 against
  • Appointment of Mr. Nikhil Kamat (DIN:00107233) as a Director, liable to retire by rotation
    3 for0 against
  • Ratification of the remuneration payable to the Cost Auditors for the financial year 2026-27
    2 for0 against
  • Appointment of Mr. Shailendra Nadkarni (DIN:03401830) as Non-Executive and Independent Director of the Company
    3 for0 against
  • Revision in the remuneration of Mr. Mukesh Shah (DIN:00106799), Chairman and Whole-Time Director of the Company
    3 for0 against
  • Revision in the remuneration of Mr. Jayen Shah (DIN:00106919), Managing Director of the Company
    3 for0 against
  • Revision in the remuneration of Mr. Tushar Shah (DIN:00107144), Whole Time-Director and Chief Executive Officer of the Company
    Against Mahindra Manulife Mutual Fund
    • Mahindra Manulife Mutual FundGovernance concern: Skewed remuneration practice in favor of Promoter Directors.
    2 for1 against
  • Revision in the remuneration of Mr. Bimal Shah (DIN:03424880), Whole Time Director of the Company
    Against Mahindra Manulife Mutual Fund
    • Mahindra Manulife Mutual FundGovernance concern: Skewed remuneration practice in favor of Promoter Directors
    2 for1 against
  • Revision in the remuneration of Mr. Nikhil Kamat (DIN:00107233), Whole Time Director of the Company
    3 for0 against
1 proposal not matched to one resolution
  • 5) Ratify remuneration of Rs. 400,000 plus applicable taxes and reimbursement of expenses paid to Y R Doshi & Associates as cost auditors for FY27
    1 for0 against

Mutual fund votes, meeting of 21 Aug 2025, 16 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.
    16 for0 against
  • To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.
    16 for0 against
  • To declare a Final Dividend of Rs 11 /- (Rupees Eleven only) per Equity Share of face value of Rs 5/- each for the financial year 2024-25;
    16 for0 against
  • To appoint Mr. Bimal Shah (DIN: 03424880), who retires by rotation and being eligible, has offered himself for reappointment.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund
    • Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Skewed remuneration practice in favor of Promoter Directors.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration practice in favor of Promoter Directors.
    • Invesco Mutual FundBimal Shah, 44, is a part of the promoter group and Whole-time director. He has been with the company since 2009 and on the board since April 2011. He has experience in operations, R&D, projects and instrumentation. He attended all four (100%) board meetings in FY25. He retires by rotation. The company must disclose granular details regarding his roles and responsibilities as a Whole-time Director. We are unable to support his appointment on the board as we raise concerns over the excessive number of promoter family members on the board: there are four promoter executives, and another executive (Nikhil Kamat) related to the promoter. This practice deters from attracting the right talent to the company. We do not support the resolution
    • UTI Mutual FundBimal Shah, 44, is a part of the promoter group and Whole-time director. He has been with the company since 2009 and on the board since April 2011. We are unable to support his appointment on the board as we raise concerns over the excessive number of promoter family members on the board: there are four promoter executives, and another executive (Nikhil Kamat) related to the promoter. This practice deters from attracting the right talent to the company. We do not support the resolution.
    9 for7 against
  • Ratification of the remuneration payable to the Cost Auditors for financial year 2025-26
    13 for0 against
  • Appointment of M/s. CNK & Associates LLP, Chartered Accountants as Statutory Auditors and fix their remuneration.
    16 for0 against
  • Appointment of M/s. NKS & Co, Company Secretaries as Secretarial Auditors for the term of 5 (Five) consecutive years.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundTransparency Concern: Previous Auditor’s remuneration has not been disclosed, therefore, material change, if any, in the audit fee proposed vs outgoing auditor’s audit fee cannot be ascertained.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment Compliant with law. Transparency Concern: Previous Auditor’s remuneration has not been disclosed, therefore, Material Change, if any, in the Audit Fee proposed vs outgoing auditor’s audit fee cannot be ascertained.
    12 for4 against
  • Continuation of Mr. Mukesh Maganlal Shah (DIN: 00106799) as Chairman and Whole Time Director of the Company on attaining the age of seventy years.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Holding combined position of Executive Chairman, may lead to concentration of power in the hands of a single person; Skewed remuneration practice in favor of Promoter Directors; remuneration skewness raises question over the role as an Nomination & Remuneration Committee member.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Holding combined position of Executive Chairman, may lead to concentration of power in the hands of a single person; Skewed remuneration practice in favor of Promoter Directors; remuneration skewness raises question over the role as an NRC member.
    12 for4 against
2 proposals not matched to one resolution
  • 5) Ratify remuneration of Rs. 400,000 plus applicable taxes and reimbursement of expenses paid to Y R Doshi & Associates as cost auditors for FY26.
    1 for0 against
  • Ratify remuneration of Rs. 400,000 plus applicable taxes and reimbursement of expenses paid to Y R Doshi & Associates as cost auditors for FY26
    2 for0 against
6 earlier meetings

Mutual fund votes, meeting of 21 Aug 2024, 14 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, along with the Report of the Board of Directors and the Auditors thereon.MoreLess
    14 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024, along with the Report of Auditors thereon.
    14 for0 against
  • To declare a Final Dividend of Rs. 10/- per equity share of face value of Rs. 5/- each for the financial year ended March 31, 2024.
    14 for0 against
  • To appoint a Director in place of Mr. Tushar Shah (DIN: 00107144), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
    Against Axis Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual Fund, DSP Mutual Fund, Mahindra Manulife Mutual FundTushar Shah, 56, is part of promoter family. He attended all five board meetings held in FY24. Tushar Shah was redesignated Whole time Director and CEO from Executive Director and Chief Financial Officer with effect from 1 April 2024. There is already an Executive Chairperson and a Managing Director – therefore, the board must provide clarity on role differentiation between the three designations of Executive Chairperson, Managing Director, and Executive Director and CEO. Further, we raise concerns over the excessive number of promoter family members on the board: there are four promoter executives and another executive (Nikhil Kamat) related to the promoter. This practice deters from attracting the right talent to the company.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundRe-appointment compliant with law. Governance Concern: Skewed remuneration practice in favour of Promoter Directors.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    • Nippon India Mutual FundSkewed remuneration practice in favour of Promoter Directors.
    6 for8 against
  • Ratification of Remuneration to Cost Auditors for FY 2024-25
    12 for0 against
2 proposals not matched to one resolution
  • 5) Ratify remuneration of Rs. 350,000 plus applicable taxes and reimbursement of expenses paid to Y R Doshi & Associates as cost auditors for FY25.
    1 for0 against
  • Ratify remuneration of Rs. 350,000 plus applicable taxes and reimbursement of expenses paid to Y R Doshi & Associates as cost auditors for FY25
    1 for0 against

Mutual fund votes, meeting of 26 Mar 2024, 10 fund houses

  • To consider and approve the re-designation of Mr. Mukesh Shah (DIN: 00106799) from Chairman and Managing Director to Chairman and Whole-time Director ofnthe Company.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual FundCompliant with Law. Governance Concern: Holding positions of Board Chairperson and Executive Director may lead to concentration of power in the hands of a single person.
    • Motilal Oswal Mutual Fund"Compliant with Law. Governance Concern: Holding positions of Board Chairperson and Executive Director may lead to concentration of power in the hands of a single person."
    8 for2 against
  • To consider and approve the re-designation of Mr. Jayen Shah (DIN: 00106919) from Whole Time Director and Chief Executive Officer to Managing Director of thenCompany.
    10 for0 against
  • To consider and approve the appointment of Ms. Rashi Mehta (DIN:10420079) as an Non-Executive and Independent Director of the Company.
    Against Axis Mutual Fund, DSP Mutual Fund, WhiteOak Capital Mutual Fund
    • Axis Mutual Fund, DSP Mutual Fund, WhiteOak Capital Mutual FundMs. Rashi Mehta, 40, is Partner at Universal Legal, a law firm. She looks after private equity, venture capital, cross-border transactions, joint ventures, commercial contracts and employment law at Universal Legal. Her areas of expertise include real estate, intellectual property and dispute resolution. We understand from public sources that Fine Organics Ltd is a client of Universal Legal. Given the potential conflict of interest, we do not support the resolution.
    7 for3 against

Mutual fund votes, meeting of 24 Aug 2023, 13 fund houses

  • TO RECEIVE, CONSIDER AND ADOPT THE AUDITED STANDALONE FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023 ALONG WITH THE REPORT OF THE BOARD OF DIRECTORS AND THE AUDITORS THERON.MoreLess
    13 for0 against
  • TO RECEIVE, CONSIDER AND ADOPT THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023 ALONG WITH THE REPORT OF AUDITORS THEREON.
    13 for0 against
  • TO DECLARE A FINAL DIVIDEND OF RS. 9/- PER EQUITY SHARE OF FACE VALUE OF RS. 5/- EACH FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023.
    13 for0 against
  • TO APPOINT A DIRECTOR IN PLACE OF MR. JAYEN SHAH (DIN: 0016919), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT.
    13 for0 against
  • RATIFICATION OF REMUNERATION TO COST AUDITORS.
    13 for0 against
  • COMMISSION TO NON-EXECUTIVE DIRECTORS OF THE COMPANY (OTHER THAN MANAGING DIRECTOR AND WHOLE TIME DIRECTORS).
    Against HSBC Mutual Fund, Mirae Asset Mutual Fund
    • HSBC Mutual FundNon-executive directors participate in performance-based incentive schemes The approval will be valid till perpetuity and shareholders will not get to review the payments in the future.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    11 for2 against

Mutual fund votes, meeting of 23 Aug 2022, 12 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022 along with the Report of the Board of Directors and the Auditors thereon.MoreLess
    12 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022 along with the Report of Auditors thereon
    12 for0 against
  • To declare a Final Dividend of Rs. 9/- per equity share of face value of Rs. 5/- each for the financial year 2021-22.
    12 for0 against
  • To appoint a Director in place of Mr. Mukesh Shah (DIN 00106799), who retires by rotation and being eligible, offers himself for re-appointment.
    12 for0 against
  • To re-appoint M/s. B Y Associates, Chartered Accountants as Statutory Auditors of the Company and to fix their remuneration.
    Against Axis Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Axis Mutual Fund, Bank of India Mutual Fund, SBI Mutual FundB Y & Associates were appointed as the statutory auditors for five years at the 2017 AGM. The company seeks approval to reappoint B Y & Associates for a further period of three years starting from conclusion of the 2022 AGM. The auditors were paid audit fee of Rs. 2.8 mn for FY22. The company proposes to pay an audit fee of Rs. 3.1 mn for FY23. The proposed audit fee is reasonable for the size of operations. Notwithstanding, the proposed reappointment for three years is not in line with Section 139 (1) of Companies Act 2013, which states that auditors must be appointed for a period of five years.
    • Edelweiss Mutual FundRotation of Auditors advisable
    • Nippon India Mutual FundProposed appointment of auditor is for 3 years instead of 5 years
    7 for5 against
  • Ratification of Remuneration to Cost Auditors
    12 for0 against
  • Appointment of Mr. Nikhil Kamat as a Director of the Company.
    12 for0 against
  • Appointment of Mr. Nikhil Kamat as a Whole Time Director of the Company.
    12 for0 against
  • Re-Appointment of Mr. Mukesh Shah as a Managing Director of the Company.
    12 for0 against
  • Re-appointment of Mr. Jayen Shah as a Whole Time Director and Chief Executive Officer of the Company.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted because, Jayen Shah is executive director of the company, and serve as member of the audit committee.
    11 for1 against
  • Re-appointment of Mr. Tushar Shah as a Whole Time Director and Chief Financial Officer of the Company.
    Against Bank of India Mutual Fund, HSBC Mutual Fund
    • Bank of India Mutual FundTushar Shah, 54, is a part of the promoter group and associated with the company since inception. He has completed his second year while pursuing his Bachelor’s in Science from Mumbai University. He is responsible for setting up the company’s offices in USA and Europe. Tushar Shah’s proposed FY23 remuneration is Rs. 51.5 mn. As a good practice, companies must cap the absolute remuneration payable to directors and disclose performance metrics for variable pay. Notwithstanding, we are unable to support his appointment on the board as we raise concerns over the excessive number of promoter family members on the board: there are four promoter executives and another executive (Nikhil Kamat) related to the promoter. This practice deters from attracting the right talent to the company.
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted because Tushar Shah is executive director of the company, and serve as member of the audit committee.
    10 for2 against
  • Re-appointment of Mr. Bimal Shah as a Whole Time Director of the Company.
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundBimal Shah, 41, is a part of the promoter group and he joined the company in2 009. He holds a Bachelor’s in Science from Purdue University and an MBA from Boston College. He has experience in operations, R&D, projects and instrumentation. Bimal Shah’s proposed FY23 remuneration is Rs. 51.5 mn. As a good practice, companies must cap the absolute remuneration payable to directors and disclose performance metrics for variable pay. Notwithstanding, we are unable to support his appointment on the board as we raise concerns over the excessive number of promoter family members on the board: there are four promoter executives and another executive (Nikhil Kamat) related to the promoter. This practice deters from attracting the right talent to the company.
    11 for1 against
  • Re-appointment of Mr. Prakash Apte as an Independent Non-Executive Director of the Company.
    12 for0 against
  • Re-appointment of Mr. Thiruvengadam Parthasarathi as an Independent Non-Executive Director of the Company.
    12 for0 against
  • Re-appointment of Mr. Mahesh Sarda as an Independent Non-Executive Director of the Company.
    12 for0 against
  • Re-appointment of Ms. Pratima Umarji as an Independent Non-Executive Director of the Company.
    12 for0 against
  • Re-appointment of Mr. Kaushik Shah as an Independent Non-Executive Director of the Company.
    12 for0 against
  • Commission to Non-Executive Directors of the Company (other than Managing Director and Whole Time Directors.
    Against Bank of India Mutual Fund, HSBC Mutual Fund
    • Bank of India Mutual FundThe company proposes to pay an aggregate of Rs. 10.0 mn annually as commission to non-Executive Directors, within 1% of net profits of the company. The proposed commission to non-executive directors is reasonable and in-line with market practices. 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 a chance to periodically approve such payments and therefore do not support the resolution.
    • HSBC Mutual FundA vote AGAINST this resolution is desired as this is a case of Non-Executive Directors participating in incentive schemes, which should be dissuaded.
    10 for2 against

Mutual fund votes, meeting of 24 Aug 2021, 10 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • 1 a. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2021 along with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    10 for0 against
  • 1 b. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2021 along with the Report of Auditors thereon
    6 for0 against
  • 2. To declare a Final Dividend of Rs.11/- per equity share of face value Rs.5/- each for the financial year 2020-21 which includes a onetime special dividend of Rs.5/- per equity share on account of golden jubilee year.MoreLess
    9 for0 against
  • 3. To appoint a Director in place of Mr. Bimal Shah (DIN 03424880), who retires by rotation and, being eligible, offers himself for re-appointment.
    10 for0 against
  • 4. Commission to Non-executive Directors of the Company (other than Managing Director and Whole Time Directors)
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this resolution is desired as this is a case of Non-Executive Director participating in incentive schemes, which should be dissuaded.
    8 for1 against
  • 5. Ratification of Remuneration to Cost Auditor
    9 for0 against
3 proposals not matched to one resolution
  • 2) To declare Final Dividend including a one-time Special Dividend on Equity Shares.
    1 for0 against
  • 4) Approve payment of commission to Non-Executive Directors not exceeding 1% of net profits upto an aggregate of Rs 5.0 mn from FY21 onwards.
    Against SBI Mutual Fund
    • SBI Mutual FundThe company proposes to pay an aggregate of Rs. 5. 0 mn annually as commission to non-Executive Directors, within 1% of net profits of the company. The proposed commission to non-executive directors is reasonable and in-line with market practices. 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 a chance to periodically approve such payments and therefore do not support the resolution.
    0 for1 against
  • 5) Ratify remuneration of Rs. 250,000 plus applicable taxes and reimbursement of expenses payable to M/s. Y. R. Doshi & Associates, Cost Auditors for FY22.
    1 for0 against

Mutual fund votes, meeting of 18 Sep 2020, 10 fund houses

  • 1. a To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2020 along with the Reports of the Board of Directors and the Auditors thereonMoreLess
    6 for0 against

    2 abstained

  • 1. b To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2020 alongwith the Report of Auditors thereon
    4 for0 against

    1 abstained

  • 2. To declare a Final Dividend on Equity Shares for the financial year 2019-20.
    8 for0 against

    2 abstained

  • 3. To appoint a Director in place of Mr. Tushar Shah DIN 00107144, who retires by rotation and, being eligible, offers himself for re-appointment.
    8 for0 against

    2 abstained

  • 4. To Ratify the Remuneration payable to Ms Y. R. Doshi Associates, Cost Accountants, appointed as Cost Auditors of the Company for the financial year 2020-21
    8 for0 against

    2 abstained

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

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeAssessment Unit, Income Tax DepartmentSince 10 Mar 2026
    The Company has filed an appeal against the order and is awaiting the hearing date.

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

At most 1 complaint open, quarter to Mar 2025.
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
No
The filing has a part on fines and penalties
No
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.