Galaxy Surfactants logo

Galaxy Surfactants MD, chairman, board of directors and AGM

NSE: GALAXYSURFBSE: 540935Chemicals & PetrochemicalsSmall Cap

Last close ₹2,221.60down ₹122.40 (5.22%)BSE ₹2,225.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹2,344.00.

52-week range of traded prices to 23 Oct 2026
₹1,510.00Low, 30 Mar 2026₹2,697.00High, 15 Oct 2026
Market cap
₹7,877 Cr699th largest listed
P/E
22.3
P/B
2.9
Dividend yield
0.99%
ROE
13.9%
ROCE
16.2%
Debt to equity
0.06
Volume, NSE
62,35758.7% delivered

Galaxy Surfactants 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

  • Managing directorNatarajan Krishnan Kulumani
  • ChairpersonKanwar Bir Singh Anand
  • Company Secretary and Compliance OfficerNIRANJAN KETKAR

7 directors3 independent2 executive2 non-executive

  • Natarajan Krishnan Kulumani · Managing directorExecutive · joined Oct 2016 · 1 listed board · 1 committee seat
  • Unnathan ShekharNon-executive · joined May 1986 · 1 listed board
  • G RamakrishnanNon-executive · joined Nov 2009 · 1 listed board · 3 committee seats, 1 as chair
  • Vaijanath S KulkarniExecutive · joined Oct 2016 · 1 listed board
  • Kanwar Bir Singh Anand · ChairpersonIndependent · joined Aug 2022 · reappointed Aug 2022 · 46 months as independent · 6 listed boards · 6 as independent · 8 committee seats, 3 as chair
  • Madhavan HariharanIndependent · joined May 2023 · reappointed May 2023 · 37 months as independent · 3 listed boards · 3 as independent · 2 committee seats, 1 as chair
  • Sangeeta Kapiljit SinghIndependent · joined Feb 2025 · reappointed Feb 2025 · 16 months as independent · 5 listed boards · 5 as independent · 7 committee seats, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • Nandita Gurjar, left 8 Sep 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 14 May 20267 of 7 present3 independent · 57 days in between
    • 17 Mar 20267 of 7 present3 independent · no day in between
    • 16 Mar 20267 of 7 present3 independent · 30 days in between
    • 13 Feb 20267 of 7 present3 independent

  • Audit Committee

    Chair Madhavan Hariharan

    Kanwar Bir Singh Anand, G Ramakrishnan, Sangeeta Kapiljit Singh

    • 14 May 20264 of 4 present3 independent · 89 days in between
    • 13 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Sangeeta Kapiljit Singh

    Kanwar Bir Singh Anand, Madhavan Hariharan

    • 13 May 20263 of 3 present3 independent · 57 days in between
    • 16 Mar 20263 of 3 present3 independent · 30 days in between
    • 13 Feb 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair G Ramakrishnan

    Madhavan Hariharan, Natarajan Krishnan Kulumani

    • 13 May 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Vaijanath S Kulkarni

    Natarajan Krishnan Kulumani, Madhavan Hariharan, Sesha Samba Garikiparthy Murty, Abhijit Damle

    • 16 Mar 20263 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair Unnathan Shekhar

    Vaijanath S Kulkarni, Sangeeta Kapiljit Singh

    • 13 May 20263 of 3 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Deloitte Haskins & Sells LLPPeer-review certificate valid to Jul 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Galaxy Surfactants 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.Galaxy Surfactants dividend history

Annual general meeting, 12 Aug 2026

47,084 shareholders on the register on 5 Aug 2026; present: 12 promoters and 41 others; votes counted by Ashwini Vartak / S. N. ANANTHASUBRAMANIAN & Co..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, 2026 together with the Report of Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.96% · promoters 97.52% · institutions 84.06% · other public 2.25%

  2. To receive, consider and adopt the Audited 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 0.07%

    Turnout: all 83.96% · promoters 97.52% · institutions 84.06% · other public 2.25%

  3. To approve the final dividend of ₹ 22/- per equity share for the financial year 2025-26
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.97% · promoters 97.52% · institutions 84.07% · other public 2.25%

  4. To appoint a Director in place of Mr. K. Natarajan (DIN: 07626680) , who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.40% · other public 0.25%

    Turnout: all 83.97% · promoters 97.52% · institutions 84.07% · other public 2.25%

  5. To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 83.97% · promoters 97.52% · institutions 84.07% · other public 2.25%

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, 12 Aug 2025, 6 resolutions

50,752 shareholders on the register on 5 Aug 2025; present: 13 promoters and 43 others; votes counted by Ashwini Vartak / S. N. ANANTHASUBRAMANIAN & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025 together with the Report of Board of Directors and Auditor's thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 83.41% · promoters 97.51% · institutions 82.27% · other public 1.61%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Report of the Auditor's thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 83.41% · promoters 97.51% · institutions 82.27% · other public 1.61%

  3. To confirm payment of Interim Dividend of Rs. 18 per equity share declared on March 15, 2025 and approve the final dividend of Rs. 4 per equity share for the financial year 2024-25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 83.41% · promoters 97.51% · institutions 82.29% · other public 1.61%

  4. To appoint a Director in place of Mr. Vaijanath Kulkarni (DIN: 07626842), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 3.30% · other public 0.20%

    Turnout: all 83.41% · promoters 97.51% · institutions 82.29% · other public 1.61%

  5. To ratify the remuneration payable to Ms Nawal Barde Devdhe and Associates, Cost Auditors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.41% · promoters 97.51% · institutions 82.29% · other public 1.61%

  6. To approve appointment of Ms. S. N. Ananthasubramanian and Co as Secretarial Auditors for a period of five years from FY 2025-26 to FY 2029-30.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.41% · promoters 97.51% · institutions 82.29% · other public 1.61%

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, 24 Jun 2025, 2 resolutions

53,148 shareholders on the register on 16 May 2025; votes counted by Ashwini Vartak / S. N. ANANTHASUBRAMANIAN & Co..The company's voting result (opens in a new tab)

  1. To approve “GALAXY SURFACTANTS LIMITED - PERFORMANCE STOCK OPTION PLAN 2025’’ (“PSOP 2025”)
    Special
    88.02% for11.98% against

    Against: promoters 0.00% · institutions 70.86% · other public 1.71%

    Turnout: all 83.38% · promoters 97.51% · institutions 83.24% · other public 1.18%

  2. To extend approval of “GALAXY SURFACTANTS LIMITED - PERFORMANCE STOCK OPTION PLAN 2025” (“PSOP 2025”) to the employees of Holding Company, its Subsidiary Company (ies) and/ or Associate Company(ies), Group Company(ies) [present and future]”MoreLess
    Special
    87.52% for12.48% against

    Against: promoters 0.00% · institutions 73.84% · other public 1.83%

    Turnout: all 83.38% · promoters 97.51% · institutions 83.24% · other public 1.18%

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, 25 Mar 2025, 1 resolution

53,045 shareholders on the register on 14 Feb 2025; votes counted by S.N.Viswanathan / S. N. ANANTHASUBRAMANIAN & Co..The company's voting result (opens in a new tab)

  1. To approve the appointment of Ms. Sangeeta Kapil Jit Singh (DIN: 06920906) as an Independent Director
    Special
    92.95% for7.05% against

    Against: promoters 0.00% · institutions 33.33% · other public 0.52%

    Turnout: all 66.57% · promoters 73.57% · institutions 82.67% · other public 2.64%

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, 7 Aug 2024, 10 resolutions

Present: 12 promoters and 32 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the nCompany for the financial year ended March 31, 2024 together with the Report of Board of Directors and Auditor’s thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.71% · promoters 97.51% · institutions 84.36% · other public 3.02%

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

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

    Turnout: all 83.71% · promoters 97.51% · institutions 84.36% · other public 3.02%

  3. To approve the dividend of ¿ 22/- per equity share for the financial year 2023-24
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

  4. To appoint a Director in place of Mr. G. Ramakrishnan (DIN: 00264760), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.38% for0.62% against

    Against: promoters 0.00% · institutions 3.67% · other public 0.16%

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

  5. To resolve not to fill the vacancy caused by the retirement of Mr. Shashikant Shanbhag (DIN: 00265103) who retires by rotation at this meeting, but does not seek his re-appointment;
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

  6. To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

  7. To approve modification in terms and conditions of appointment by revising remuneration payable to Mr. K. Natarajan (DIN:07626680), Managing Director and Mr. Vaijanath Kulkarni (DIN: 07626842), Executive Director and Chief Operating Officer (collectively referred to as “Executive Directors”) w.e.f. April 1, 2024MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 0.36%

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

  8. To approve re-appointment of Mr. Vaijanath Kulkarni (DIN: 07626842) as a Whole-time Director w.e.f. October 16, 2024
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 0.13%

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

  9. To approve appointment of Ms. Nandini Shekhar in TRI-K Industries Inc. USA from June 10, 2024
    OrdinaryPromoters have an interest in it
    90.08% for9.92% against

    Against: promoters 0.00% · institutions 46.09% · other public 0.18%

    Turnout: all 65.96% · promoters 72.48% · institutions 84.37% · other public 3.02%

  10. To approve payment of sitting fees by the Operating Subsidiaries to Mr. Kanwar Bir Singh Anand, Independent Director (DIN: 03518282) of the Company nominated on the Board of such Companies
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.71% · promoters 97.51% · institutions 84.37% · other public 3.02%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 16 Jan 2024, 3 resolutions

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

  1. To approve appointment of Mr. K. Natarajan (DIN : 07626680) as the Managing Director
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.13% · other public 0.18%

    Turnout: all 78.39% · promoters 89.79% · institutions 87.45% · other public 6.25%

  2. To approve re-appointment of Mr. Amit Ramakrishnan in TRI-K Industries Inc. USA from April 1, 2024:n
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 61.06% · promoters 65.36% · institutions 87.45% · other public 6.25%

  3. To approve continuation of Mr. U. Shekhar (DIN: 00265017) as a Non-Executive and Non-Independent Director with effect from February 18, 2024n
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.35% · other public 0.18%

    Turnout: all 78.39% · promoters 89.79% · institutions 87.45% · other public 6.25%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 10 Aug 2023, 7 resolutions

Present: 14 promoters and 54 others.The company's voting result (opens in a new tab)

  1. 1 - To receive, consider and adopt Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 together with the Report of Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.77% · promoters 89.83% · institutions 90.39% · other public 6.80%

  2. 2 - To receive, consider and adopt Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 together with the Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.77% · promoters 89.83% · institutions 90.39% · other public 6.80%

  3. 3-To confirm payment of Interim Dividend of Rs.18/- per equity share declared on February 11, 2023 and approve the final dividend of Rs.4/- per equity share for the financial year 2022-23.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.77% · promoters 89.83% · institutions 90.39% · other public 6.80%

  4. 4 - To appoint a Director in place of Mr. K. Natarajan (DIN: 07626680), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.16% for0.84% against

    Against: promoters 0.00% · institutions 4.70% · other public 0.00%

    Turnout: all 78.73% · promoters 89.83% · institutions 90.31% · other public 6.59%

  5. 5 - To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.77% · promoters 89.83% · institutions 90.39% · other public 6.79%

  6. 6 - To approve payment of Commission to Non-Executive directors of the Company.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 38.92% · promoters 33.64% · institutions 90.39% · other public 6.79%

  7. 7 - To approve appointment of Mr. Madhavan Hariharan (DIN: 07217072) as an Independent Director.
    Special
    100.00% for0.00% against

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

    Turnout: all 78.77% · promoters 89.83% · institutions 90.39% · other public 6.79%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 5 Aug 2022, 13 resolutions

Present: 13 promoters and 46 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022 together with the Report of Board of Directors and Auditors thereon;
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

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

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

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  3. To approve the final dividend of ₹ 18/- per share for the financial year 2021-22.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  4. To appoint a director in place of Mr. Shashikant R. Shanbhag (DIN: 00265103), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    96.60% for3.40% against

    Against: promoters 0.00% · institutions 16.91% · other public 0.02%

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  5. To appoint a director in place of Mr. Vaijanath Kulkarni (DIN: 07626842), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.09% for0.91% against

    Against: promoters 0.00% · institutions 4.51% · other public 0.02%

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  6. To approve re-appointment of Statutory Auditor and approve their remuneration
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  7. To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.09% · other public 0.02%

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  8. To approve re-appointment of Mr. K. Natarajan (DIN: 07626680) as a Whole-time Director, designated as Executive Director & Chief Operating Officer
    Ordinary
    99.09% for0.91% against

    Against: promoters 0.00% · institutions 4.52% · other public 0.03%

    Turnout: all 67.85% · promoters 75.65% · institutions 87.96% · other public 4.08%

  9. To approve re-appointment of Mr. G. Ramakrishnan (DIN: 00264760) as a Strategic Advisor to the Company
    OrdinaryPromoters have an interest in it
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.06% · other public 0.11%

    Turnout: all 13.89% · promoters 0.00% · institutions 87.96% · other public 1.88%

  10. To approve payment of sitting fees to Mr. G. Ramakrishnan, Non- Executive Director (DIN: 00264760) of the Company nominated on the Board of Subsidiary Companies for attending/ participating in its Board MeetingMoreLess
    OrdinaryPromoters have an interest in it
    85.74% for14.26% against

    Against: promoters 0.00% · institutions 14.52% · other public 0.15%

    Turnout: all 13.89% · promoters 0.00% · institutions 87.96% · other public 1.88%

  11. To approve payment of sitting fees to Mr. Subodh Nadkarni, Independent Director (DIN: 00145999) of the Company nominated on the Board of Subsidiary Companies for attending/ participating in its Board MeetingMoreLess
    OrdinaryPromoters have an interest in it
    79.56% for20.44% against

    Against: promoters 0.00% · institutions 20.82% · other public 0.04%

    Turnout: all 13.89% · promoters 0.00% · institutions 87.96% · other public 1.88%

  12. To approve appointment of Mr. Kanwar Bir Singh Anand (DIN: 03518282) as an Independent Director
    Special
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.53% · other public 0.02%

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

  13. To approve modification in terms and conditions of appointment and Remuneration payable to Mr. U. Shekhar (DIN: 00265017) Managing Director, Mr. K Ganesh Kamath (DIN: 07767220) Executive Director (Finance) and Chief financial Officer, Mr. K. Natarajan (DIN:07626680), Executive Director and Chief Operating Officer and Mr. Vaijanath Kulkarni (DIN: 07626842), Whole-time Director (collectively referred to as “Executive Directors”)MoreLess
    Ordinary
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 1.94% · other public 0.02%

    Turnout: all 67.88% · promoters 75.65% · institutions 87.96% · other public 4.28%

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 12 Aug 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026 together with the Report of Board of Directors and Auditors thereon.MoreLess
    2 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 together with the Report of the Auditors thereon.
    2 for0 against
  • To approve the final dividend of ₹ 22/- per equity share for the financial year 2025-26
    2 for0 against
  • To appoint a Director in place of Mr. K. Natarajan (DIN: 07626680) , who retires by rotation and being eligible, offers himself for re-appointment.
    2 for0 against
  • To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors.
    2 for0 against

Mutual fund votes, meeting of 12 Aug 2025, 7 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025 together with the Report of Board of Directors and Auditor's thereon.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundUnqualified financial statements (except certain non-material yet important remarks identified in CARO report). Compliant with Indian Accounting Standards. Governance Concern: Undisputed Statutory Dues unpaid for more than 2 years.
    6 for1 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Report of the Auditor's thereon.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundUnqualified financial statements (except certain non-material yet important remarks identified in CARO report). Compliant with Indian Accounting Standards. Governance Concern: Undisputed Statutory Dues unpaid for more than 2 years.
    6 for1 against
  • To confirm payment of Interim Dividend of Rs. 18 per equity share declared on March 15, 2025 and approve the final dividend of Rs. 4 per equity share for the financial year 2024-25.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundSufficient funds for payment of dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
    6 for1 against
  • To appoint a Director in place of Mr. Vaijanath Kulkarni (DIN: 07626842), who retires by rotation and being eligible, offers himself for re-appointment.
    7 for0 against
  • To ratify the remuneration payable to Ms Nawal Barde Devdhe and Associates, Cost Auditors.
    7 for0 against
  • To approve appointment of Ms. S. N. Ananthasubramanian and Co as Secretarial Auditors for a period of five years from FY 2025-26 to FY 2029-30.
    7 for0 against
6 earlier meetings

Mutual fund votes, meeting of 24 Jun 2025, 5 fund houses

  • To approve “GALAXY SURFACTANTS LIMITED - PERFORMANCE STOCK OPTION PLAN 2025’’ (“PSOP 2025”)
    Against Axis Mutual Fund, Bank of India Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual FundUnder the plan, options convertible upto 350,000 equity shares will be issued. The dilution under the plan will be ~1% on the expanded capital base (as on 31 March 2025). However, key details of the scheme — including the exercise price, and vesting conditions — have not been disclosed, leaving them entirely at the discretion of the Nomination and Remuneration Committee and / or the board. The board and NRC can accelerate the vesting of options at their discretion. Due to these inadequate disclosures, we are unable to determine whether the scheme effectively aligns employees’ interests with those of investors. Consequently, we do not support the resolution. Furthermore, the resolution seeks approval for the company to provide financial assistance to employees for exercising their stock options, a practice that remains uncommon in corporate India.
    • Bank of India Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to Board/ Committee to determine Exercise Price. Governance & Transparency Concerns: Potential Significant Benefit arising to a single Employee. Inadequate Disclosure of Vesting Period & Accelerated Vesting.
    • HDFC Mutual FundLack of clarity on the pricing of ESOPS. We do not support the resolution.
    • Nippon India Mutual FundGovernance Concern: Inadequate disclosure
    1 for4 against
  • To extend approval of “GALAXY SURFACTANTS LIMITED - PERFORMANCE STOCK OPTION PLAN 2025” (“PSOP 2025”) to the employees of Holding Company, its Subsidiary Company (ies) and/ or Associate Company(ies), Group Company(ies) [present and future]”MoreLess
    Against Axis Mutual Fund, Bank of India Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund
    • Axis Mutual FundThrough a separate resolution, the company proposes extending the scheme to employees of the holding company, subsidiary companies, associate companies or group companies (present or future). We do not support the extension of the scheme to employees of associate companies and group companies. Further, our view on this resolution is linked to our view on resolution #1. Thus, we do not support the resolution.
    • Bank of India Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to Board/ Committee to determine Exercise Price. Governance & Transparency Concerns: Potential Significant Benefit arising to a single Employee. Inadequate Disclosure of Vesting Period & Accelerated Vesting.
    • HDFC Mutual FundLack of clarity on the pricing of ESOPS. We do not support the resolution.
    • Nippon India Mutual FundGovernance Concern: Inadequate disclosure
    1 for4 against

Mutual fund votes, meeting of 25 Mar 2025, 6 fund houses

  • To approve the appointment of Ms. Sangeeta Kapil Jit Singh (DIN: 06920906) as an Independent Director
    Against Axis Mutual Fund, Bank of India Mutual Fund
    • Axis Mutual Fund, Bank of India Mutual FundMs. Sangeeta Singh, 65, has over 35 years of experience in human resources, communications and operations. She is former Partner & Head of Human Resources in KPMG India. We understand from public sources that she is Partner, Sanguine Consultants which she founded in 2013 to handle independent assignments with focus area in leadership building – assessment, development, measurement and individual coaching. We note that she serves on the boards of five listed companies (including Galaxy Surfactants Limited: subject to shareholder approval). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. We believe that as a Partner at Sanguine Consultants, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies are not in keeping with the spirit of the regulation. We do not support the resolution.
    4 for2 against

Mutual fund votes, meeting of 7 Aug 2024, 9 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the nCompany for the financial year ended March 31, 2024 together with the Report of Board of Directors and Auditor’s thereon.MoreLess
    9 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024 together with the Report of the Auditor’s thereon.
    9 for0 against
  • To approve the dividend of ¿ 22/- per equity share for the financial year 2023-24
    9 for0 against
  • To appoint a Director in place of Mr. G. Ramakrishnan (DIN: 00264760), who retires by rotation and being eligible, offers himself for re-appointment.
    9 for0 against
  • To resolve not to fill the vacancy caused by the retirement of Mr. Shashikant Shanbhag (DIN: 00265103) who retires by rotation at this meeting, but does not seek his re-appointment;
    9 for0 against
  • To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors
    9 for0 against
  • To approve modification in terms and conditions of appointment by revising remuneration payable to Mr. K. Natarajan (DIN:07626680), Managing Director and Mr. Vaijanath Kulkarni (DIN: 07626842), Executive Director and Chief Operating Officer (collectively referred to as “Executive Directors”) w.e.f. April 1, 2024MoreLess
    9 for0 against
  • To approve re-appointment of Mr. Vaijanath Kulkarni (DIN: 07626842) as a Whole-time Director w.e.f. October 16, 2024
    9 for0 against
  • To approve appointment of Ms. Nandini Shekhar in TRI-K Industries Inc. USA from June 10, 2024
    Against Bandhan Mutual Fund, Bank of India Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundNo concern on merit. Non-Compliance: Prior shareholders’ approval not obtained in accordance with the Companies (Meetings of Board and its Powers) Rules, 2014 read with the Companies Act.
    • Bank of India Mutual FundMs. Nandini Shekhar, 35, is the daughter of U Shekhar – promoter and non-executive director of the company. As Sales Manager – Northeast in TRI-K Industries Inc. USA, the company proposes to pay Ms. Nandini Shekhar remuneration of up to USD 300,000 per annum which includes salary, allowances, performance bonus and perquisites and benefits covering social security, medical care, life insurance, vacation, 401K contributions and other statutory and customary benefits. While the appointment is valid for three years, the company has not disclosed granular details regarding her role and responsibilities as Sales Manager – Northeast of TRI-K Industries Inc. USA. Further, while we recognize her appointment as a gradual step towards succession planning, the company needs to provide greater clarity on the benchmarking of her experience and remuneration with those in her proposed designation or cadre. Given the lack of clarity, we do not support the resolution.
    • Kotak Mahindra Mutual FundNo concern on has been recognised on the merit of the Director. However, the Company has proposed appointment effective from 10th June, 2024. Therefore, the Company is not seeking approval prior to the appointment of Ms. Shekhar in office or place of profit. The resolution is non-compliant according to the Rule 15 of Chapter XII of the Companies Rules, 2014. Hence voting against.
    3 for6 against
  • To approve payment of sitting fees by the Operating Subsidiaries to Mr. Kanwar Bir Singh Anand, Independent Director (DIN: 03518282) of the Company nominated on the Board of such Companies
    9 for0 against

Mutual fund votes, meeting of 16 Jan 2024, 9 fund houses

  • To approve appointment of Mr. K. Natarajan (DIN : 07626680) as the Managing Director
    9 for0 against
  • To approve re-appointment of Mr. Amit Ramakrishnan in TRI-K Industries Inc. USA from April 1, 2024:n
    9 for0 against
  • To approve continuation of Mr. U. Shekhar (DIN: 00265017) as a Non-Executive and Non-Independent Director with effect from February 18, 2024n
    9 for0 against

Mutual fund votes, meeting of 10 Aug 2023, 8 fund houses

  • 1 - To receive, consider and adopt Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 together with the Report of Board of Directors and Auditors thereon.MoreLess
    8 for0 against
  • 2 - To receive, consider and adopt Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 together with the Report of the Auditors thereon.
    8 for0 against
  • 3-To confirm payment of Interim Dividend of Rs.18/- per equity share declared on February 11, 2023 and approve the final dividend of Rs.4/- per equity share for the financial year 2022-23.
    8 for0 against
  • 4 - To appoint a Director in place of Mr. K. Natarajan (DIN: 07626680), who retires by rotation and being eligible, offers himself for re-appointment.
    8 for0 against
  • 5 - To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors.
    8 for0 against
  • 6 - To approve payment of Commission to Non-Executive directors of the Company.
    8 for0 against
  • 7 - To approve appointment of Mr. Madhavan Hariharan (DIN: 07217072) as an Independent Director.
    8 for0 against

Mutual fund votes, meeting of 5 Aug 2022, 8 fund houses

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

  • To receive, consider and adopt Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022 together with the Report of Board of Directors and Auditors thereon;
    8 for0 against
  • To receive, consider and adopt Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022 together with the Report of the Auditors thereon.
    8 for0 against
  • To approve the final dividend of ₹ 18/- per share for the financial year 2021-22.
    8 for0 against
  • To appoint a director in place of Mr. Shashikant R. Shanbhag (DIN: 00265103), who retires by rotation and being eligible, offers himself for re-appointment.
    Against SBI Mutual Fund
    • SBI Mutual FundSBIMF has an internal proxy voting guideline aligned to corporate governance best practices globally and closer home to the Kotak Committee Recommendations. The internal guideline does not allow us to vote in favour of appointment/re-appointment of the promoter director/promoter representatives if the board does not meet the 50% independence criteria. We understand that Galaxy Surfactant’s board is aligned with SEBI LODR requirement of 33% independence, however, it does not meet the internal threshold set by us. We wish to clarify that we do not have any doubt on Mr Shanbhag’s capabilities, our sole objection is <50% board independence.
    7 for1 against
  • To appoint a director in place of Mr. Vaijanath Kulkarni (DIN: 07626842), who retires by rotation and being eligible, offers himself for re-appointment
    8 for0 against
  • To approve re-appointment of Statutory Auditor and approve their remuneration
    2 for0 against
  • To ratify the remuneration payable to M/s Nawal Barde Devdhe & Associates, Cost Auditors
    8 for0 against
  • To approve re-appointment of Mr. K. Natarajan (DIN: 07626680) as a Whole-time Director, designated as Executive Director & Chief Operating Officer
    8 for0 against
  • To approve re-appointment of Mr. G. Ramakrishnan (DIN: 00264760) as a Strategic Advisor to the Company
    8 for0 against
  • To approve payment of sitting fees to Mr. G. Ramakrishnan, Non- Executive Director (DIN: 00264760) of the Company nominated on the Board of Subsidiary Companies for attending/ participating in its Board MeetingMoreLess
    Against Bank of India Mutual Fund, SBI Mutual Fund
    • Bank of India Mutual Fund, SBI Mutual FundG Ramakrishnan’s total sitting fees will not exceed USD 12,000 per annum from each subsidiary, equivalent to Rs. 1.0 mn, which is reasonable. The company has two operating subsidiaries - TRI-K Industries Inc., USA and Galaxy Chemicals (Egypt) SAE. While the notice does not specify how many subsidiaries will pay him sitting fees, we expect the aggregate amount to be reasonable. Further, the tenure of these payments is from 1 April 2023 till G. Ramakrishnan ceases to be a director on the board of such subsidiaries. In the absence of a specified tenure, this payment will be approved in perpetuity. We do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments.
    6 for2 against
  • To approve payment of sitting fees to Mr. Subodh Nadkarni, Independent Director (DIN: 00145999) of the Company nominated on the Board of Subsidiary Companies for attending/ participating in its Board MeetingMoreLess
    Against Bank of India Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund
    • Bank of India Mutual FundSubodh Nadkarni, 66, is a Non-Executive Non-Independent Director on the board of the company. He is the former Managing Director of Sulzer India Limited. He was appointed on the board as an Independent Director in August 2002. His total sitting fees will not exceed USD 12,000 per annum from each subsidiary, equivalent to Rs. 1.0 mn1, which is reasonable. The company has two operating subsidiaries - TRI-K Industries Inc., USA and Galaxy Chemicals (Egypt) SAE. While the notice does not specify how many subsidiaries will pay him sitting fees, we expect the aggregate amount to be reasonable. Further, the tenure of these payments is from 20 April 2022 till he ceases to be a director on the board of such subsidiaries. The company has not disclosed a fixed tenure for payment of sitting fees. In the absence of a specified tenure, this payment will be approved in perpetuity. We do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments.
    • Kotak Mahindra Mutual FundSubodh Nadkarni, 66 has three decades of experience in finance and is a Charted Accountant. He qualified CA and CS with 40+ years of experience, including with Godrej and Sulzer. He has been associated with the Company since 2002. He has been an Director on the Group s board close to 20 years. while compliant with regulations, we believe that the length of tenure is inversely proportionate to the independence of a director. Therefore, we do not consider former group employees as independent.
    • Nippon India Mutual FundInadequate disclosure
    5 for3 against
  • To approve appointment of Mr. Kanwar Bir Singh Anand (DIN: 03518282) as an Independent Director
    8 for0 against
  • To approve modification in terms and conditions of appointment and Remuneration payable to Mr. U. Shekhar (DIN: 00265017) Managing Director, Mr. K Ganesh Kamath (DIN: 07767220) Executive Director (Finance) and Chief financial Officer, Mr. K. Natarajan (DIN:07626680), Executive Director and Chief Operating Officer and Mr. Vaijanath Kulkarni (DIN: 07626842), Whole-time Director (collectively referred to as “Executive Directors”)MoreLess
    7 for0 against
3 proposals not matched to one resolution
  • 13) Approve modification to remuneration terms of the executive directors of the company till the completion of their tenure.
    1 for0 against
  • Re-appointment of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants, Mumbai (Firm Registration No. 117366W / W-100018) as the Statutory Auditors of the Company for a second term of 5 (five) years to hold office from the conclusion of this 36th Annual General Meeting until the conclusion of the 41st Annual General Meeting to be held in the year 2027 for an annual fees payable to statutory auditors and its network firms which shall not exceed Rs.1.80 Crore plus taxes and reimbursements of out of pocket expenses for the audit of the Company.MoreLess
    4 for0 against
  • Re-appointment of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants, Mumbai (Firm Registration No. 117366W / W-100018) as the Statutory Auditors of the Company for a second term of 5 (five) years to hold office from the conclusion of this 36th Annual General Meeting until the conclusion of the 41st Annual General Meeting to be held in the year 2027 for an annual fees payable to statutory auditors and its network firms which shall not exceed ?1.80 Crore plus taxes and reimbursements of out of pocket expenses for the audit of the Company.MoreLess
    2 for0 against

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

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Dec 2024.
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
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.