Godrej Consumer Products logo

Godrej Consumer Products CEO, MD, chairman, board of directors and AGM

NSE: GODREJCPBSE: 532424Personal ProductsLarge Cap

Last close ₹856.35down ₹3.85 (0.45%)BSE ₹851.50

Share price at the NSE close on 23 Oct 2026. Previous close ₹860.20.

52-week range of traded prices to 23 Oct 2026
₹832.60Low, 5 Oct 2026₹1,273.90High, 7 Jan 2026
Market cap
₹87,631 Cr93rd largest listed
P/E
45.8
P/E without one-offs
40.9
P/B
6.9
Dividend yield
2.34%
ROE
15.5%
ROE without one-offs
17.4%
ROCE
17.7%
Debt to equity
0.33
Volume, NSE
7,72,30053.2% delivered

Godrej Consumer Products 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

  • ChairpersonNisaba GodrejRelated to the promoter
  • Managing director and CEOSudhir Sitapati
  • Company Secretary and Compliance OfficerTejal Jariwala

10 directors5 independent2 executive3 non-executive

  • Nadir Burjor GodrejNon-executive · joined Nov 2000 · reappointed Aug 2025 · 4 listed boards · 2 committee seats, 1 as chair
  • Tanya DubashNon-executive · joined May 2011 · reappointed Aug 2024 · 5 listed boards · 2 as independent · 2 committee seats
  • Nisaba Godrej · ChairpersonExecutive · joined May 2011 · reappointed Oct 2022 · 5 listed boards · 2 as independent · 3 committee seats
  • Shalini PuchalapalliIndependent · joined Nov 2023 · reappointed Nov 2023 · 32 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
  • Pirojsha Adi GodrejNon-executive · joined Apr 2017 · reappointed Aug 2025 · 6 listed boards · 3 committee seats, 1 as chair
  • Pippa ArmerdingIndependent · joined Jan 2018 · reappointed Jan 2023 · 101 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Sumeet NarangIndependent · joined Apr 2019 · reappointed Apr 2024 · 87 months as independent · 3 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • Sudhir Sitapati · Managing director and CEOExecutive · joined Oct 2021 · reappointed Aug 2024 · 2 listed boards · 1 as independent
  • Aditya SehgalIndependent · joined Jul 2024 · reappointed Jul 2024 · 24 months as independent · 2 listed boards · 2 as independent · 3 committee seats
  • Amisha Hemchand JainIndependent · joined Sep 2024 · reappointed Sep 2024 · 22 months as independent · 3 listed boards · 2 as independent · 4 committee seats

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.

Committees and meetings

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

  • Board

    • 6 May 20268 of 10 present3 independent · 102 days in between
    • 23 Jan 202610 of 10 present5 independent

  • Audit Committee

    Chair Sumeet Narang

    Shalini Puchalapalli, Pippa Armerding, Aditya Sehgal, Amisha Hemchand Jain

    • 6 May 20264 of 5 present4 independent · 102 days in between
    • 23 Jan 20265 of 5 present5 independent

  • Nomination and remuneration committee

    Chair Shalini Puchalapalli

    Pippa Armerding, Sumeet Narang

    • 6 May 20263 of 3 present3 independent · 102 days in between
    • 23 Jan 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Pirojsha Adi Godrej

    Tanya Dubash, Sumeet Narang

    • 6 May 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Aditya Sehgal

    Nisaba Godrej, Nadir Burjor Godrej, Sudhir Sitapati, Aasif Malbari

    • 29 Apr 20264 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair Nadir Burjor Godrej

    Nisaba Godrej, Tanya Dubash, Sudhir Sitapati, Shalini Puchalapalli

    • 29 Apr 20265 of 5 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.

  • B S R & Co. LLPPeer-review certificate valid to Jul 2028
1 earlier auditor
  • B R S R & Co. LLPNamed in the filing for the quarter to Sep 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.

Godrej Consumer Products 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.Godrej Consumer Products dividend history

Postal ballot, 7 Oct 2026

2,45,821 shareholders on the register on 1 Sep 2026; votes counted by ASHISH KUMAR JAIN / A K Jain and Co.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Aasif Malbari (DIN: 07345077) as the Managing Director of the Company designated as ‘Managing Director & Chief Executive Officer’, for a period of 5 (Five) years with effect from August 12, 2026MoreLess
    Ordinary
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 2.14% · other public 0.03%

    Turnout: all 90.50% · promoters 100.00% · institutions 90.05% · other public 58.41%

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

Annual general meeting, 7 Aug 2026, 4 resolutions

2,12,867 shareholders on the register on 31 Jul 2026; present: 22 promoters and 40 others; votes counted by Ashish Kumar Jain / M/s. A.K. Jain & Co..The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements for the Financial Year ended March 31, 2026
    Ordinary
    99.52% for0.48% against

    Against: promoters 0.00% · institutions 1.52% · other public 0.00%

    Turnout: all 91.39% · promoters 100.00% · institutions 90.74% · other public 62.26%

  2. Appointment of Mr. Sudhir Sitapati, as a Director liable to retire by rotation, who being eligible has offered himself for re-appointment
    Ordinary
    99.93% for0.07% against

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

    Turnout: all 91.41% · promoters 100.00% · institutions 90.79% · other public 62.26%

  3. Ratification of remuneration payable to M/s. R. Nanabhoy and Co., Cost Accountants appointed as the “Cost Auditors” of the Company for the fiscal year 2026-27
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.41% · promoters 100.00% · institutions 90.79% · other public 62.26%

  4. Re-appointment of Mr. Sudhir Sitapati as the 'Managing Director & Chief Executive Officer’, for a period of 5 (Five) years with effect from October 18, 2026
    Ordinary
    99.29% for0.71% against

    Against: promoters 0.00% · institutions 2.24% · other public 0.00%

    Turnout: all 91.34% · promoters 100.00% · institutions 90.59% · other public 62.26%

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 2025, 5 resolutions

2,31,290 shareholders on the register on 31 Jul 2025; present: 6 promoters and 49 others; votes counted by Kalidas Vanjpe / Kalidas Vanjpe.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements for the Financial Year ended March 31, 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.95% · promoters 100.00% · institutions 88.92% · other public 17.40%

  2. Appointment of Mr. Pirojsha Godrej, as a Director liable to retire by rotation, who being eligible has offered himself for re-appointment
    Ordinary
    99.04% for0.96% against

    Against: promoters 0.00% · institutions 2.81% · other public 0.01%

    Turnout: all 84.70% · promoters 100.00% · institutions 91.31% · other public 17.40%

  3. Appointment of Mr. Nadir Godrej, as a Director liable to retire by rotation, who being eligible has offered himself for re-appointment
    Ordinary
    98.45% for1.55% against

    Against: promoters 0.00% · institutions 4.54% · other public 0.01%

    Turnout: all 84.70% · promoters 100.00% · institutions 91.31% · other public 17.40%

  4. Appointment of M/s. Nilesh Shah & Associates as the Secretarial Auditors of the Company for a term of 5 (Five) years starting from FY 2025-26 till FY 2029-30
    Ordinary
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 0.90% · other public 0.01%

    Turnout: all 84.70% · promoters 100.00% · institutions 91.31% · other public 17.40%

  5. Ratification of remuneration payable to M/s. P. M. Nanabhoy and Co., Cost Accountants appointed as the “Cost Auditors” of the Company for the fiscal year 2025-26
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 84.70% · promoters 100.00% · institutions 91.28% · other public 17.40%

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, 28 Sep 2024, 2 resolutions

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

  1. Approval of the requests received for re-classification of certain members of the Promoter and Promoter Group of Godrej Consumer Products Limited to ‘Public’ Category
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 80.15% · promoters 84.20% · institutions 85.11% · other public 1.86%

  2. Approval for appointment of Ms. Amisha Jain as an Independent Director of the Company.
    Special
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.43% · other public 1.05%

    Turnout: all 90.11% · promoters 100.00% · institutions 85.11% · other public 1.86%

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, 7 resolutions

Present: 24 promoters and 30 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (standalone and consolidated)of the Company for the financial year ended March 31, 2024 and Report of the Board of Directors and Auditor’s Report thereon;MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.85% · promoters 100.00% · institutions 81.35% · other public 8.51%

  2. To appoint a Director in place of Mr. Sudhir Sitapati (DIN: 09197063), who retires by rotation, and being eligible, offers himself for reappointment;
    Ordinary
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.41% · other public 0.00%

    Turnout: all 89.56% · promoters 100.00% · institutions 83.61% · other public 8.51%

  3. To appoint a Director in place of Ms. Tanya Dubash (DIN: 00026028), who retires by rotation, and being eligible, offers himself for reappointment;
    OrdinaryPromoters have an interest in it
    92.25% for7.75% against

    Against: promoters 0.00% · institutions 26.15% · other public 0.00%

    Turnout: all 89.56% · promoters 100.00% · institutions 83.61% · other public 8.51%

  4. Ordinary Resolution for the ratification of remuneration payable to M/s. P. M. Nanabhoy & Co. (Firm Membership number 000012), appointed as Cost Auditors of the Company for the fiscal year 2024-25
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.28% · other public 0.02%

    Turnout: all 89.54% · promoters 100.00% · institutions 83.52% · other public 8.51%

  5. Special Resolution for appointment of Mr. Aditya Sehgal as an IndependentnDirector of the Company
    Special
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.44% · other public 0.02%

    Turnout: all 89.56% · promoters 100.00% · institutions 83.61% · other public 8.51%

  6. Special Resolution for approval & adoption of ‘Godrej Consumer Products Limited Employees Stock Option Scheme 2024‘
    Special
    80.41% for19.59% against

    Against: promoters 0.00% · institutions 66.11% · other public 0.04%

    Turnout: all 89.56% · promoters 100.00% · institutions 83.61% · other public 8.51%

  7. Special Resolution for approval for extension of ‘Godrej Consumer Products Limited Employees Stock Option Scheme 2024’ to Eligible Employees of group company(ies) including its holding / subsidiary / associate company(ies)MoreLess
    Special
    80.38% for19.62% against

    Against: promoters 0.00% · institutions 66.21% · other public 0.04%

    Turnout: all 89.56% · promoters 100.00% · institutions 83.61% · other public 8.51%

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, 23 Mar 2024, 1 resolution

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

  1. Re-appointment of Mr. Sumeet Narang as an Independent Director (DIN: 01874599) for a period of five years effective from April 1, 2024
    Special
    98.00% for2.00% against

    Against: promoters 0.00% · institutions 6.96% · other public 4.46%

    Turnout: all 88.61% · promoters 100.00% · institutions 80.58% · other public 0.46%

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 2023, 5 resolutions

Present: 35 promoters and 28 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (standalone and consolidated)of the Company for the financial year ended March 31, 2023 and Report of the Board of Directors and Auditor’s Report thereon;MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.74%

    Turnout: all 87.97% · promoters 100.00% · institutions 79.68% · other public 0.15%

  2. To appoint a Director in place of Mr. Pirojsha Godrej (DIN: 00432983), who retires by rotation, and being eligible, offers himself for reappointment;
    OrdinaryPromoters have an interest in it
    93.65% for6.35% against

    Against: promoters 0.00% · institutions 22.15% · other public 1.96%

    Turnout: all 88.60% · promoters 100.00% · institutions 81.72% · other public 0.15%

  3. To appoint a Director in place of Mr. Nadir Godrej (DIN: 00066195), who retires by rotation, and being eligible, offers himself for reappointment;
    OrdinaryPromoters have an interest in it
    91.10% for8.90% against

    Against: promoters 0.00% · institutions 31.05% · other public 1.74%

    Turnout: all 88.60% · promoters 100.00% · institutions 81.72% · other public 0.15%

  4. Ordinary Resolution for the ratification of remuneration payable to M/s. P. M. Nanabhoy & Co. (Firm Membership number 000012), appointed as Cost Auditors of the Company for the fiscal year 2023-24
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.76%

    Turnout: all 88.62% · promoters 100.00% · institutions 81.76% · other public 0.15%

  5. Special Resolution for appointment of Ms. Shalini Puchalapalli as an IndependentnDirector of the Company
    Special
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.35% · other public 3.31%

    Turnout: all 88.60% · promoters 100.00% · institutions 81.72% · 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.

Postal ballot, 21 Jan 2023, 1 resolution

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

  1. Re-appointment of Ms. Pippa Armerding as an Independent Director (DIN: 08054033) for a period of five years effective from January 30, 2023
    Special
    96.90% for3.10% against

    Against: promoters 0.00% · institutions 11.11% · other public 1.24%

    Turnout: all 87.78% · promoters 100.00% · institutions 79.71% · other public 1.15%

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.

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

  • Adoption of Audited Financial Statements for the Financial Year ended March 31, 2026
    15 for0 against
  • Appointment of Mr. Sudhir Sitapati, as a Director liable to retire by rotation, who being eligible has offered himself for re-appointment
    15 for0 against
  • Ratification of remuneration payable to M/s. R. Nanabhoy and Co., Cost Accountants appointed as the “Cost Auditors” of the Company for the fiscal year 2026-27
    15 for0 against
  • Re-appointment of Mr. Sudhir Sitapati as the 'Managing Director & Chief Executive Officer’, for a period of 5 (Five) years with effect from October 18, 2026
    Against Jio BlackRock Mutual Fund
    • Jio BlackRock Mutual FundBased on the existing remuneration terms, we estimate his FY26 remuneration to be Rs. 381.8 mn which includes an estimate of fair value of stock options granted during the year and estimate of performance linked variable remuneration (PLVR) and Long Term Incentives (LTI) payable for FY26. Based on his proposed terms, we estimate his FY27 remuneration at Rs. 533.0 mn, which is significantly higher than peers and not commensurate with the size and scale of the business. The company’s annual reports lack detailed disclosure on past remuneration components, specifically relating to monetary value of perquisites. Perquisites were disclosed at an aggregate of Rs. 160.5 mn in FY25 & Rs. 199.7 mn in FY26; without any specific mention of perquisite value of stock options exercised as reported previously in the FY24 annual report. Further, there is no guidance or absolute cap on variable pay components of PLVR and long-term incentives, and no clarity on stock options that he may be granted in the proposed term. While there is some guidance on performance metrics for the PLVR and LTI, specific targets, weightages, or thresholds are not disclosed. We expect the company to provide more clarity on the performance-linked framework. Due to the ambiguity of remuneration terms, his FY27 remuneration may likely be higher than the estimate. While we support his reappointment, we do not support the enabling remuneration terms. We do not support the resolution.
    14 for1 against

Mutual fund votes, meeting of 7 Aug 2025, 31 fund houses

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

  • Adoption of Audited Financial Statements for the Financial Year ended March 31, 2025
    31 for0 against
  • Appointment of Mr. Pirojsha Godrej, as a Director liable to retire by rotation, who being eligible has offered himself for re-appointment
    31 for0 against
  • Appointment of Mr. Nadir Godrej, as a Director liable to retire by rotation, who being eligible has offered himself for re-appointment
    31 for0 against
  • Appointment of M/s. Nilesh Shah & Associates as the Secretarial Auditors of the Company for a term of 5 (Five) years starting from FY 2025-26 till FY 2029-30
    Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundProposed audit fee payable to Secretarial Auditors not disclosed in the Notice. Transparency Concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
    • Baroda BNP Paribas Mutual FundRemuneration payable not disclosed.
    • Edelweiss Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundNo issues on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR, 2015: Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice.
    • Groww Mutual Fund, Navi Mutual FundNo issues on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR, 2015: Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice. Transparency Concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
    • LIC Mutual FundConcerns over Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice.
    23 for8 against
  • Ratification of remuneration payable to M/s. P. M. Nanabhoy and Co., Cost Accountants appointed as the “Cost Auditors” of the Company for the fiscal year 2025-26
    30 for0 against
1 proposal not matched to one resolution
  • Item 5, as a fund house numbered it
    1 for0 against
5 earlier meetings

Mutual fund votes, meeting of 28 Sep 2024, 26 fund houses

  • Approval of the requests received for re-classification of certain members of the Promoter and Promoter Group of Godrej Consumer Products Limited to ‘Public’ Category
    26 for0 against
  • Approval for appointment of Ms. Amisha Jain as an Independent Director of the Company.
    26 for0 against

Mutual fund votes, meeting of 7 Aug 2024, 25 fund houses

  • To receive, consider and adopt the audited financial statements (standalone and consolidated)of the Company for the financial year ended March 31, 2024 and Report of the Board of Directors and Auditor’s Report thereon;MoreLess
    25 for0 against
  • To appoint a Director in place of Mr. Sudhir Sitapati (DIN: 09197063), who retires by rotation, and being eligible, offers himself for reappointment;
    25 for0 against
  • To appoint a Director in place of Ms. Tanya Dubash (DIN: 00026028), who retires by rotation, and being eligible, offers himself for reappointment;
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • The board independence norms are not met (as per our re-classification) and Tanya Dubash is a non-independent director nominee
    24 for1 against
  • Ordinary Resolution for the ratification of remuneration payable to M/s. P. M. Nanabhoy & Co. (Firm Membership number 000012), appointed as Cost Auditors of the Company for the fiscal year 2024-25
    25 for0 against
  • Special Resolution for appointment of Mr. Aditya Sehgal as an IndependentnDirector of the Company
    25 for0 against
  • Special Resolution for approval & adoption of ‘Godrej Consumer Products Limited Employees Stock Option Scheme 2024‘
    Against Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund
    • Axis Mutual Fund, DSP Mutual Fund, Sundaram Mutual FundAs per the scheme, upto 5.0 mn stock options will be granted to employees in the CEO minus three levels and can extend up to CEO minus five levels and such other grades and levels as may be decided by the Nomination & Remuneration Committee (NRC). The exercise price shall not be greater than the prevailing market price, which is enabling. It allows the company to grant stock options at face value of Re. 1.0 as it has done for the previous scheme. While the vesting is essentially performance-based, the company has disclosed a vast list of performance metrics at a business unit-level and individual level, however, there is no specificity around it. Moreover, there are no targets disclosed for the performance metrics. We believe companies should disclose specific parameters with a pre-defined range of achievements where stock options are granted at deep discount to market price. Given that the stock options can be granted at face value, we do not support the scheme. We believe the company should have disclosed granular details regarding the performance-based vesting targets.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise Price/Pricing Formula. Governance Concern: Potential maximum benefit to a single employee is excessive.
    • Baroda BNP Paribas Mutual FundPast track record shows that the company has issued ESOP at exercise price of Re1 which is against the spirit of ESOP which is supposed to align interest of employee with shareholders
    • Edelweiss Mutual FundWill lead to dilution of shares
    • Franklin Templeton Mutual Fund, HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the prevailing market price. • The exact performance targets for vesting have not been disclosed, in absence of which it is difficult to ascertain if the performance targets will be sufficiently or not. • The proposals include grant of units to employees of holding company and associate companies without a compelling rationale.
    • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
    • Kotak Mahindra Mutual FundAs per the scheme, upto 5.0 mn stock options will be granted to employees in the CEO minus three levels and can extend up to CEO minus five levels and such other grades and levels as may be decided by the Nomination & Remuneration Committee (NRC). The company has not provided any clarification for the same. Given that the scheme allows the company to grant stock options at face value of Re. 1.0, we do not support the resolution. We do not favour ESOP plans where options are granted at a significant discount to the market price or where there is no clarity on the performance metrics for vesting. If the stock options are granted at a significant discount there is no alignment between the interests of investors and those of employees. Moreover, the Company has stated that proposed ESOP Scheme would be extended to Company s present and future associates with no compelling justification provided.
    • Mirae Asset Mutual FundESOP pricing mechanism not defined. Could be at significant discount to market price
    • Zerodha Mutual FundInadequate disclosure of Exercise Price. Excessive potential benefit to employee.
    9 for16 against
  • Special Resolution for approval for extension of ‘Godrej Consumer Products Limited Employees Stock Option Scheme 2024’ to Eligible Employees of group company(ies) including its holding / subsidiary / associate company(ies)MoreLess
    Against Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund
    • Axis Mutual Fund, DSP Mutual Fund, Sundaram Mutual FundWe do not support the extension of ESOP schemes to employees of the holding company, associate companies and group companies. Further, our view is linked to our view on resolution #6.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundInterlinked with Resolution #6, Compliant with law. Governance Concern: Scheme proposed to be extended to Holding/ Associate Companies without compelling reason
    • Baroda BNP Paribas Mutual FundESOP for employees of holdco may lead to dilution for minority shareholders without having any identifiable benefits for the listed entity
    • Edelweiss Mutual FundWill lead to dilution of shares
    • Franklin Templeton Mutual Fund, HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The Scheme permits stock options to be issued with an exercise price at a discount to the prevailing market price. • The exact performance targets for vesting have not been disclosed, in absence of which it is difficult to ascertain if the performance targets will be sufficiently or not. • The proposals include grant of units to employees of holding company and associate companies without a compelling rationale.
    • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
    • Kotak Mahindra Mutual FundWe do not support the extension of ESOP schemes to employees of the holding company, associate companies and group companies. Further, our view is linked to our view on resolution #6
    • Mahindra Manulife Mutual FundWe do not favour blanket approval for employees of associate companies or holding companies. While in this case there is no associate or holding company at present, we are not in favour of extending such blanket approvals to employees other than those belonging to subsidiary companies.
    • Mirae Asset Mutual FundESOP pricing mechanism not defined. Could be at significant discount to market price
    • Nippon India Mutual FundCompliant with law. Governance Concern: Scheme proposed to be extended to Holding/ Associate Companies without compelling reason
    • Zerodha Mutual FundScheme proposed to be extended to Holding/Associate Companies without compelling reason.
    8 for17 against

Mutual fund votes, meeting of 23 Mar 2024, 29 fund houses

  • Re-appointment of Mr. Sumeet Narang as an Independent Director (DIN: 01874599) for a period of five years effective from April 1, 2024
    Against DSP Mutual Fund, Edelweiss Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund
    • DSP Mutual Fund, Sundaram Mutual FundSumeet Narang, 48, is Founder, Managing Director and Co-CIO of Samara Capital, an India focused investment firm. He has also worked with Citigroup India and with Goldman Sachs New York in their Principal Investments Group. He has been an independent director on the board of this company since 1 April 2019. He attended all four board meetings held in FY23 and four out of five board meetings held in FY24 as on date of notice. We note that Samara Capital has invested in Marengo Asia Healthcare, a multispecialty hospital platform. Marengo is still a part of Samara Capital’s portfolio. Public sources indicate that Marengo was jointly set up by Havells Family Investment Office, Godrej Family Investment Office and Samara Capital. We believe that there is an inherent conflict of interest due to the business linkage with the promoter group. The company must classify him as Non-Executive Non-Independent. We do not support his reappointment as independent director.
    • Edelweiss Mutual FundTo maintain indepence, there should be rotation in ID
    • Invesco Mutual Fundfocused investment firm. He has also worked with Citigroup India and with Goldman Sachs New York in their Principal Investments Group. He has been an independent director on the board of this company since 1 April 2019. He attended all four board meetings held in FY23 and four out of five board meetings held in FY24 as on date of notice. We note that Samara Capital has invested in Marengo Asia Healthcare, a multispecialty hospital platform. Marengo is still a part of Samara Capital’s portfolio. Public sources indicate that Marengo was jointly set up by Havells Family Investment Office, Godrej Family Investment Office and Samara Capital. We believe that there is an inherent conflict of interest due to the business linkage with the promoter group. The company must classify him as Non-Executive Non-Independent. We do not support his reappointment as independent director
    25 for4 against

Mutual fund votes, meeting of 7 Aug 2023, 26 fund houses

  • To receive, consider and adopt the audited financial statements (standalone and consolidated)of the Company for the financial year ended March 31, 2023 and Report of the Board of Directors and Auditor’s Report thereon;MoreLess
    26 for0 against
  • To appoint a Director in place of Mr. Pirojsha Godrej (DIN: 00432983), who retires by rotation, and being eligible, offers himself for reappointment;
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: • The board is chaired by an executive and promoter director and the board is not at least one-half independent and Nadir Godrej and Pirojsha Godrej are non-independent director nominees.
    25 for1 against
  • To appoint a Director in place of Mr. Nadir Godrej (DIN: 00066195), who retires by rotation, and being eligible, offers himself for reappointment;
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: • The board is chaired by an executive and promoter director and the board is not at least one-half independent and Nadir Godrej and Pirojsha Godrej are non-independent director nominees.
    25 for1 against
  • Ordinary Resolution for the ratification of remuneration payable to M/s. P. M. Nanabhoy & Co. (Firm Membership number 000012), appointed as Cost Auditors of the Company for the fiscal year 2023-24
    26 for0 against
  • Special Resolution for appointment of Ms. Shalini Puchalapalli as an IndependentnDirector of the Company
    26 for0 against

Mutual fund votes, meeting of 21 Jan 2023, 23 fund houses

  • Re-appointment of Ms. Pippa Armerding as an Independent Director (DIN: 08054033) for a period of five years effective from January 30, 2023
    23 for0 against

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

Fines

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyOffice of the District Legal Metrology Officer, NagarkurnoolSince 9 Jun 2026

    Order for payment of compounding fees for a total of INR 50,000/- (Indian Rupees Fifty Thousand Only)

    Violation of Section 36 (1)/Section 18 (1) of the Legal Metrology Act 2009 r/w Rule 2(f) , Rule 4, Rule 6 (1) (c), Rule 6(1) (e), Rule 11, Rule 9 (1) (a) and Rule 18 (1) of the Legal Metrology (Packaged Commodities) Rules, 2011 r/w Rule 32 of Telangana State Legal Metrology (Enf) Rules, 2011MoreLess

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 3 complaints 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
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.