Gallantt Ispat MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 30 Sep 2026, 7 fund houses so far (houses' deadline to file 15 Oct 2026)

• To consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, the Audited Consolidated Financial Statements of the Company for the said financial year and the Reports of the Board of Directors and Auditors thereon.MoreLess

  7 for0 against
• 2. To appoint a Director in place of Mr. Prem Prakash Agrawal (DIN: 01397585), who retires by rotation at this Annual General Meeting in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.MoreLess

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Remuneration appears to be skewed in favor of Promoter Directors; no justification has been provided by the Company for the difference in pay among the Promoter and Professional Executive Directors.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of the directors. Governance Concern: Remuneration appears to be skewed in favor of Promoter Directors; no justification has been provided by the Company for the difference in pay among the Promoter and Professional Executive Directors.

  4 for3 against
• To declare a final dividend @ 20% i.e. Rs. 2/- per equity share of face value of Rs. 10/- each fully paid-up for the financial year ended March 31, 2026.

  7 for0 against
• Appointment of M/s. Singhi & Co., Chartered Accountants, as the Statutory Auditors of the Company in casual vacancy.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundThe Company has not disclosed the remuneration payable for the casual vacancy period. It is therefore unclear whether any remuneration will be paid for the casual vacancy period. If yes, then what is the amount? And, whether the proposed fee of ₹60 lakh under Resolution No. 5 also covers the payment for the casual vacancy period. Due to lack of clarity regarding the proposed audit fee structure, transparency concern is identified. Although the amount may not be material for this interim period, clarity is required to make a decision on the proposal.
  • Edelweiss Mutual Fund, Navi Mutual FundThe Company has not disclosed the remuneration payable for the casual vacancy period. It is therefore unclear whether any remuneration will be paid for the casual vacancy period. If yes, then what is the amount? And, whether the proposed fee of ?60 lakh under Resolution No. 5 also covers the payment for the casual vacancy period. Due to lack of clarity regarding the proposed audit fee structure, transparency concern is identified. Although the amount may not be material for this interim period, clarity is required to make a decision on the proposal.

  4 for3 against
• Appointment of M/s. Singhi & Co., Chartered Accountants, as the Statutory Auditors of the Company for a term of 5 (five) consecutive years.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundTransparency concern: No justification provided for the material/ significant difference in the proposed Auditor’s fees vs outgoing Auditor’s fees.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern identified on the merits of the proposed Statutory Auditors. Transparency concern: No justification provided for the material/ significant difference in the proposed Auditor’s fees vs outgoing Auditor’s fees.

  4 for3 against
• To approve the remuneration of the Cost Auditors for the financial year ending March 31, 2027

  7 for0 against
• To approve material related party transaction with Gallantt Industry Private Limited.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, SBI Mutual Fund

  • Angel One Mutual FundThe Company has failed to disclose whether the Audit Committee has reviewed the certificates provided by the Chief Executive Officer / Managing Director / Whole-Time Director / Manager and the Chief Financial Officer as mandated under the Related Party Transaction Industry Standards. Governance & Transparency Concern: Proposed quantum is significant when compared to counterparties financials
  • DSP Mutual FundGallantt Industry Private Limited (GIPL) is engaged in the business of Cement and allied products. GIPL holds ~1.1% stake in the company. Mayank Agrawal, CEO, holds 37.2% stake in GIPL and does not hold any shares in the company (he held 6.8% stake in the company as on 30 September 2025). He is the son of Chandra Prakash Agrawal – Promoter, Chairperson and Managing Director.The company seeks approval for related party transactions with GIPL up to Rs. 9.0 bn for FY27. The transactions include purchase of goods; sale of goods; loans and advances including intercorporate deposits; interest on loans and advances; providing guarantees, securities or indemnities and; guarantee commission/fees. As per the company, these transactions will ensure smooth integration and sustained growth.The rationale for providing guarantees on behalf of the promoted related company, wherein the company does not hold material economic interest, is unclear. Further,material related party transactions require approval from the shareholders through ordinary resolution. The company should explain the rational for seeking approval through special resolution. We do not support the resolution.
  • Edelweiss Mutual Fund, Navi Mutual FundNon-Compliant with RPT Industry Standards: The Company has failed to disclose whether the Audit Committee has reviewed the certificates provided by the CEO / Managing Director / Whole-Time Director / Manager and the Chief Financial Officer as mandated under the RPT Industry Standards. Governance & Transparency Concern: Proposed quantum is significant when compared to counterparties financials. #8: No clarity regarding whether previous year’s transactions approved by shareholders or not.
  • ICICI Prudential Mutual FundGallantt Industry Private Limited (GIPL) is engaged in the business of Cement and allied products. The company seeks approval for related party transactions with GIPL up to Rs. 9.0 bn for FY27. The transactions include purchase of goods; sale of goods; loans and advances including intercorporate deposits; interest on loans and advances; providing guarantees, securities or indemnities and; guarantee commission/fees. The rationale for providing guarantees on behalf of the promoted related company, wherein the company does not hold material economic interest, is unclear. Hence, the AMC has voted against the resolution.
  • Jio BlackRock Mutual Fund, SBI Mutual FundGallantt Industry Private Limited (GIPL) is engaged in the business of Cement and allied products. GIPL holds ~1.1% stake in the company. Mayank Agrawal, CEO, holds 37.2% stake in GIPL and does not hold any shares in the company (he held 6.8% stake in the company as on 30 September 2025). He is the son of Chandra Prakash Agrawal – Promoter, Chairperson and Managing Director. The company seeks approval for related party transactions with GIPL up to Rs. 9.0 bn for FY27. The transactions include purchase of goods; sale of goods; loans and advances including intercorporate deposits; interest on loans and advances; providing guarantees, securities or indemnities and; guarantee commission/fees. As per the company, these transactions will ensure smooth integration and sustained growth. The rationale for providing guarantees on behalf of the promoted related company, wherein the company does not hold material economic interest, is unclear. Further, material related party transactions require approval from the shareholders through ordinary resolution. The company should explain the rational for seeking approval through special resolution. We do not support the resolution.

  0 for7 against
• To approve material related party transaction with Gallantt Lifespace Devlopers Private Limited.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, SBI Mutual Fund

  • Angel One Mutual FundNo clarity regarding whether previous year’s transactions approved by shareholders or not.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual FundGallantt Lifespace Private Limited (GLDPL) is engaged in the business of Construction and Real Estate. Mayank Agarwal, Promoter and CEO, holds 4.5% stake in GLDPL and does not hold any shares in the company (he held 6.8% stake in the company as on 30 September 2025). The company seeks approval for related party transactions with GLDPL up to Rs. 9.0 bn for FY27. The transactions include purchase of goods; sale of goods; loans and advances including intercorporate deposits; interest on loans and advances; providing guarantees, securities or indemnities and; guarantee commission/fees. The rationale for providing guarantees on behalf of the promoted related company, wherein the company does not hold material economic interest, is unclear. The company should also provide disclosures related to Shobhit Mohan Das regarding his association with the company and his economic interest in the transaction. Further, material related party transactions require approval from the shareholders through ordinary resolution. The company should explain the rational for seeking approval through special resolution. We do not support the resolution.
  • Edelweiss Mutual Fund, Navi Mutual FundNon-Compliant with RPT Industry Standards: The Company has failed to disclose whether the Audit Committee has reviewed the certificates provided by the CEO / Managing Director / Whole-Time Director / Manager and the Chief Financial Officer as mandated under the RPT Industry Standards. Governance & Transparency Concern: Proposed quantum is significant when compared to counterparties financials. #8: No clarity regarding whether previous year’s transactions approved by shareholders or not.
  • ICICI Prudential Mutual FundGallantt Lifespace Private Limited (GLDPL) is engaged in the business of Construction and Real Estate. The company seeks approval for related party transactions with GLDPL up to Rs. 9.0 bn for FY27. The transactions include purchase of goods; sale of goods; loans and advances including intercorporate deposits; interest on loans and advances; providing guarantees, securities or indemnities and; guarantee commission/fees. The rationale for providing guarantees on behalf of the promoted related company, wherein the company does not hold material economic interest, is unclear. Hence, vote against the resolution.

  0 for7 against

Mutual fund votes, meeting of 25 Jun 2026, 16 fund houses

• Appointment of Mr. Dindayal Jalan (DIN: 00006882) as a Director of the Company.

  16 for0 against
• Appointment of Mr. Dindayal Jalan (DIN: 00006882) as a Whole-time Director of the Company

  16 for0 against
• Appointment of Mr. Atul Kumar Gupta (DIN: 01734070) as a Non-Executive Independent Director of the Company.

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundPrior Approval not sought for appointment/ continuation of Director above 75 years of age.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of the appointee. Non-Compliant under Regulation 17(1A) of SEBI LODR, 2015: Prior Approval not sought for appointment/ continuation of Director above 75 years of age.
  • Motilal Oswal Mutual FundPrior shareholders’ approval not obtained for appointment/ continuation beyond 75- years.
  • Nippon India Mutual FundNon-Compliant under Regulation 17(1A) of SEBI LODR, 2015: Prior Approval not sought for appointment/ continuation of Director above 75 years of age.

  8 for8 against
• Appointment of Mr. Sanjay Kumar Jain (DIN: 11692582) as a Non-Executive Independent Director of the Company.

  16 for0 against
• Appointment of Mr. Kishore Pariyar (DIN: 10767484) as a Non-Executive Independent Director of the Company.

  16 for0 against
• Increase in Remuneration of Mr. Chandra Prakash Agrawal (DIN: 01814318), Chairman & Managing Director of the Company.

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Remuneration appears to be skewed in favor of promoter directors, without any adequate justification. Combined Position of Chairperson & Managing Director, may lead to concentration of power in the hands of single individual.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed director. Governance concern: Remuneration appears to be skewed in favor of promoter directors, without any adequate justification. Combined Position of Chairperson & MD, may lead to concentration of power in the hands of single individual.
  • Kotak Mahindra Mutual FundChandra Prakash Agrawal, 70, has over three decades of experience in steel industry. He is the Promoter of the company and is responsible for the installation, implementation and functioning of units of the project. He was last reappointed as Managing Director for a term of five years with effect from 1 September 2025. He received a remuneration of Rs. 7.1 mn for FY26. The remuneration paid to the Promoter Executive Directors appears to be skewed in their favour and no specific justification has been provided to that extent. Although, the overall remuneration of the Executive Directors is not significant in nature; the distribution of remuneration within the Board, among Promoter and Non-Promoter EDs does not appear to be fair. Hence, we do not favour the resolution.
  • Motilal Oswal Mutual FundRemuneration skewed in favour of Promoter ED & Combined Position of Chairperson & MD.
  • Nippon India Mutual FundGovernance Concern: Remuneration appears to be skewed in favor of promoter directors, without any adequate justification. Combined Position of Chairperson & MD, may lead to concentration of power in the hands of single individual.

  7 for9 against
• Increase in Remuneration of Mr. Prem Prakash Agrawal (DIN: 01397585), Whole-time Director of the Company.

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Remuneration appears to be skewed in favour of promoter directors, without any adequate justification.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed directors. Governance concern: Remuneration appears to be skewed in favour of promoter directors, without any adequate justification.
  • Kotak Mahindra Mutual FundPrem Prakash Agrawal, 58, is a Whole-time Director of the company and is part of the promoter group of the company. He has more than two decades of experience in the steel industry. He was last appointed to the board on 2 November 2023 for a term of five years till 1 November 2028. He received a remuneration of Rs. 6.6 mn for FY26. . The remuneration paid to the Promoter Executive Directors appears to be skewed in their favour and no specific justification has been provided to that extent. Although, the overall remuneration of the Executive Directors is not significant in nature; the distribution of remuneration within the Board, among Promoter and Non-Promoter EDs does not appear to be fair. Hence, we do not favour the resolution.
  • Motilal Oswal Mutual FundRemuneration skewed in favour of promoter directors.
  • Nippon India Mutual FundGovernance Concern: Remuneration appears to be skewed in favour of promoter directors, without any adequate justification.

  7 for9 against
• Increase in Remuneration of Mr. Nitin Mahavir Prasad Kandoi (DIN: 01979952), Whole-time Director of the Company.

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Remuneration appears to be skewed in favour of promoter directors, without any adequate justification.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed directors. Governance concern: Remuneration appears to be skewed in favour of promoter directors, without any adequate justification.
  • Kotak Mahindra Mutual FundNitin Mahavir Prasad Kandoi, 54, is a Promoter and was appointed as Whole-time Director of the company on 1 June 2022 for a term of five years. He has about three decades of experience in steel industry. He was involved in the operations of steel manufacturing facility of Gallant Udyog Limited since 1995. He received a remuneration of Rs. 7.2 mn for FY26. . The remuneration paid to the Promoter Executive Directors appears to be skewed in their favour and no specific justification has been provided to that extent. Although, the overall remuneration of the Executive Directors is not significant in nature; the distribution of remuneration within the Board, among Promoter and Non-Promoter EDs does not appear to be fair. Hence, we do not favour the resolution.
  • Motilal Oswal Mutual FundRemuneration skewed in favour of promoter directors.
  • Nippon India Mutual FundGovernance Concern: Remuneration appears to be skewed in favour of promoter directors, without any adequate justification.

  7 for9 against
• Increase in Remuneration of Mr. Mayank Agrawal, Chief Executive Officer (CEO) of the Company.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundPrior approval of shareholders not sought. Basis of arriving at remuneration not disclosed. The disclosure regarding the basis of arriving proposed remuneration is a material disclosure for shareholders to ascertain the fairness of the remuneration. Hence, the same should form part of the disclosures made in the explanatory statement.
  • Axis Mutual Fund, Jio BlackRock Mutual FundMayank Agrawal, 41, is the son of Chandra Prakash Agrawal, Chairperson and MD of the company. He was appointed as CEO of the company for a term of five years on 10 August 2022. His responsibilities include overseeing the Company’s financial and commercial operations in India and overseas, including banking, treasury, accounting, production and marketing. He received remuneration of Rs. 7.2 mn for FY26. We estimate his FY27 remuneration at Rs. 9.5 mn, which is commensurate with the size and scale of the business and broadly in line with industry peers. However, as per the meeting notice, any modification or alteration to salary, including increments, is at the discretion of the Managing Director. This effectively grants overriding authority to the Managing Director and undermines the role of the Nomination and Remuneration Committee (NRC) in overseeing executive remuneration, which we do not support.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNon-Compliant with Section 188 of Companies Act, 2013: Prior approval of shareholders not sought. Governance and Transparency concern: Basis of arriving at remuneration not disclosed. The disclosure regarding the basis of arriving proposed remuneration is a material disclosure for shareholders to ascertain the fairness of the remuneration. Hence, the same should form part of the disclosures made in the explanatory statement.
  • Kotak Mahindra Mutual FundMayank Agrawal, 41, is the son of Chandra Prakash Agrawal, Chairperson and MD of the company. He was appointed as CEO of the company for a term of five years on 10 August 2022. His responsibilities include overseeing the Company s financial and commercial operations in India and overseas, including banking, treasury, accounting, production and marketing. He received remuneration of Rs. 7.2 mn for FY26. We estimate his FY27 remuneration at Rs. 9.5 mn, which is commensurate with the size and scale of the business and broadly in line with industry peers. As per the meeting notice, any modification or alteration to salary, including increments, is at the discretion of the Managing Director. This effectively grants overriding authority to the Managing Director and undermines the role of the Nomination and Remuneration Committee (NRC) in overseeing executive remuneration. It is not a standard governance practice. Hence, we do not favour it.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundNo prior approval of shareholders. Fairness of proposed remuneration cannot be ascertained.
  • Nippon India Mutual FundGovernance and Transparency Concern: Basis of arriving at the proposed remuneration has not been disclosed, which is a material information for shareholders to ascertain fairness and should form part of the explanatory statement.
  • UTI Mutual FundMayank Agrawal, 41, is the son of Chandra Prakash Agrawal, Chairperson and MD of the company. We estimate his FY27 remuneration at Rs. 9.5 mn, which is commensurate with the size and scale of the business and broadly in line with industry peers. However, as per the meeting notice, any modification or alteration to salary, including increments, is at the discretion of the Managing Director. This effectively grants overriding authority to the Managing Director and undermines the role of the Nomination and Remuneration Committee (NRC) in overseeing executive remuneration, which we do not support.

  3 for13 against

• Unlisted stake heldSuryalaxmi Technologies Private LimitedSince 9 Oct 2025

  0.00% bought in the quarter; holding 100.00%, from 100.00%

• Fine or penaltyBSE LimitedSince 14 May 2026

  BSE Limited imposed a fine of Rs. 23,600 for delay in submitting prior intimation of Board Meeting pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

  Non-compliance with Regulation 29(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Fine or penaltyNational Stock Exchange of India LimitedSince 14 May 2026

  National Stock Exchange of India Limited imposed a fine of Rs. 23,600 for delay in submitting prior intimation of Board Meeting pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

  Non-compliance with Regulation 29(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

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

The board is made up as the listing rules require

Yes

The board has a regular chairperson

Yes

The company has a risk management committee

Yes

The chair is related to the managing director

Yes

The filing has a part on fines and penalties

Yes

The filing has a part on tax disputes

No

There was a cyber security incident in the quarter

No

The company's own answers in its filing.