Healthcare Global Enterprises CEO, MD, chairman, board of directors and AGM
NSE: HCGBSE: 539787Healthcare ServicesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹550.65.
- Next results date: the board meets on 5 Nov 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹8,206 Cr593rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 6 Aug 2026
- 360.2
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹45 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 121.8
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 19 May 2026
- 6.2
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 6 Aug 2026
- 2.0%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹45 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 6.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 6 Aug 2026
- 9.6%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 19 May 2026
- 0.65
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,11,09752.3% delivered
Healthcare Global Enterprises 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
- ChairpersonBasavalinga Sadashivaiah Ajaikumar
- Chief executiveManish Mattoo
- Company Secretary and Compliance OfficerSunu Manuel
10 directors5 independent1 executive4 non-executive
- Basavalinga Sadashivaiah Ajaikumar · ChairpersonNon-executive · joined Mar 2000 · 1 listed board
- Manish Mattoo · Chief executiveExecutive · joined Jun 2025 · 1 listed board
- Anjali Ajaikumar RossiNon-executive · joined Apr 2021 · 1 listed board
- Geeta MathurIndependent · joined Jun 2021 · reappointed Jun 2024 · 60 months as independent · 6 listed boards · 6 as independent · 9 committee seats, 4 as chair
- Rajagopalan RaghavanIndependent · joined Aug 2021 · reappointed Aug 2024 · 58 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Pradip Manilal KanakiaIndependent · joined Feb 2022 · reappointed Feb 2025 · 52 months as independent · 6 listed boards · 6 as independent · 7 committee seats, 4 as chair
- Rajiv MaliwalIndependent · joined May 2023 · reappointed May 2026 · 37 months as independent · 1 listed board · 1 as independent
- Akshay TannaNominee, non-executive · joined May 2025 · 2 listed boards · 3 committee seats
- Simrun MehtaNominee, non-executive · joined May 2025 · 1 listed board · 3 committee seats, 2 as chair
- Bijou KurienIndependent · joined Jun 2025 · reappointed Jun 2025 · 12 months as independent · 6 listed boards · 6 as independent · 10 committee seats, 5 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.
4 directors who left
- Amit Soni, left 30 May 2025: Others
- Siddharth Tapaswin Patel, left 30 May 2025: Others
- Meghraj Arvindrao Gore, left 9 Feb 2025: Tenure Completion
- Jeyandran Venugopal, left 9 Nov 2024: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 19 May 20269 of 10 present4 independent
- 30 Mar 20268 of 10 present4 independent
- 2 Mar 20269 of 10 present5 independent · 5 days in between
- 24 Feb 202610 of 10 present5 independent · 6 days in between
2 earlier meetings
- 17 Feb 202610 of 10 present5 independent · 11 days in between
- 5 Feb 20269 of 10 present4 independent
Audit Committee
Chair Geeta Mathur
Rajagopalan Raghavan, Pradip Manilal Kanakia, Simrun Mehta, Akshay Tanna, Bijou Kurien
- 19 May 20265 of 6 present3 independent · 49 days in between
- 30 Mar 20266 of 6 present4 independent · 52 days in between
- 5 Feb 20264 of 6 present3 independent
Nomination and remuneration committee
Chair Rajagopalan Raghavan
Geeta Mathur, Rajiv Maliwal, Pradip Manilal Kanakia, Akshay Tanna, Simrun Mehta
- 19 May 20265 of 6 present3 independent · 102 days in between
- 5 Feb 20265 of 6 present3 independent
Stakeholders Relationship Committee
Chair Simrun Mehta
Rajagopalan Raghavan, Akshay Tanna
- 27 Mar 20262 of 3 present1 independent
Risk Management Committee
Chair Simrun Mehta
Pradip Manilal Kanakia, Akshay Tanna
- 4 Jun 20263 of 3 present1 independent · 182 days in between
- 3 Dec 20253 of 3 present1 independent
Corporate Social Responsibility Committee
Chair Basavalinga Sadashivaiah Ajaikumar
Anjali Ajaikumar Rossi, Rajagopalan Raghavan, Simrun Mehta
- 4 Feb 20264 of 4 present1 independent
Rights Issue Committee
- 27 Mar 20263 of 4 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 Jun 2026.
- B S R & Co. LLPPeer-review certificate valid to Jul 2028
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Healthcare Global Enterprises 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.Healthcare Global Enterprises share news and announcements
Annual general meeting, 18 Sep 2026
45,831 shareholders on the register on 11 Sep 2026; present: 3 promoters and 107 others; votes counted by Pradeep B Kulkarni / V Sreedharan & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company (including Audited Consolidated Financial Statements) for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.32% · promoters 100.00% · institutions 88.21% · other public 7.48%
- To appoint a Director in place of Ms. Simrun Mehta, (DIN: 08057112), who retires by rotation and being eligible, offers herself for re-appointment.Ordinary99.93% for0.07% against
Against: promoters 0.00% · institutions 0.31% · other public 0.00%
Turnout: all 85.32% · promoters 100.00% · institutions 88.21% · other public 7.48%
- To appoint a Director in place of Mr. Akshay Tanna (DIN: 02967021), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.93% for0.07% against
Against: promoters 0.00% · institutions 0.31% · other public 0.00%
Turnout: all 85.32% · promoters 100.00% · institutions 88.21% · other public 7.48%
- To approve extension of the term and modification of the Consultancy Agreement with Mrs. Anjali Ajaikumar Rossi, a Related Party.OrdinaryPromoters have an interest in it87.12% for12.88% against
Against: promoters 0.00% · institutions 47.23% · other public 0.01%
Turnout: all 75.57% · promoters 84.69% · institutions 88.21% · other public 7.56%
- To ratify the payment of remuneration to the Cost Auditors for the financial year 2026-27.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.32% · promoters 100.00% · institutions 88.21% · other public 7.48%
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, 8 Jul 2026, 5 resolutions
48,790 shareholders on the register on 5 Jun 2026; votes counted by V Sreedharan / V Sreedharan & Assoicates.The company's voting result (opens in a new tab)
- To approve HCG Employee Stock Option Scheme – 2026Special85.92% for14.08% against
Against: promoters 0.00% · institutions 61.01% · other public 12.46%
Turnout: all 83.54% · promoters 100.00% · institutions 87.42% · other public 0.48%
- To approve grant of stock options to the employees of the group companies, including subsidiary and associate companies of the Company under HCG Employee Stock Option Scheme – 2026Special85.92% for14.08% against
Against: promoters 0.00% · institutions 61.01% · other public 12.46%
Turnout: all 83.54% · promoters 100.00% · institutions 87.42% · other public 0.48%
- To approve the grant of employee stock options to an employee exceeding 1% of the issued share capital of the Company.Special85.92% for14.08% against
Against: promoters 0.00% · institutions 61.01% · other public 12.51%
Turnout: all 83.54% · promoters 100.00% · institutions 87.42% · other public 0.48%
- Reappointment of Mr. Rajiv Maliwal (DIN: 00869035), as an Independent Director of the CompanySpecial92.34% for7.66% against
Against: promoters 0.00% · institutions 33.16% · other public 12.26%
Turnout: all 83.54% · promoters 100.00% · institutions 87.42% · other public 0.48%
- Revision in the remuneration of Dr. Manish Mattoo (DIN: 08431924), Executive Director and Chief Executive Officer of the CompanySpecial85.96% for14.04% against
Against: promoters 0.00% · institutions 60.85% · other public 12.40%
Turnout: all 83.54% · promoters 100.00% · institutions 87.42% · other public 0.47%
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 2026, 1 resolution
45,696 shareholders on the register on 19 Dec 2025; votes counted by V Sreedharan / V Sreedharan & Assoicates.The company's voting result (opens in a new tab)
- APPROVAL OF THE VARIATIONS TO THE CONSULTANCY ARRANGEMENT WITH DR. B.S. AJAIKUMAROrdinaryPromoters have an interest in it98.32% for1.68% against
Against: promoters 0.00% · institutions 5.63% · other public 31.71%
Turnout: all 73.25% · promoters 84.69% · institutions 86.84% · other public 3.76%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 25 Sep 2025, 4 resolutions
48,372 shareholders on the register on 19 Sep 2025; present: 2 promoters and 91 others; votes counted by Pradeep B Kulkarni / V. Sreedharan & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company (including Audited Consolidated Financial Statements) for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 83.43% · promoters 100.00% · institutions 84.77% · other public 2.12%
- To appoint a Director in place of Mrs. Anjali Ajaikumar Rossi, (DIN: 08057112), who retires by rotation and being eligible, offers herself for re-appointment.Ordinary96.22% for3.78% against
Against: promoters 0.00% · institutions 16.92% · other public 0.15%
Turnout: all 83.43% · promoters 100.00% · institutions 84.77% · other public 2.12%
- To approve the appointment of Secretarial Auditors of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 83.43% · promoters 100.00% · institutions 84.77% · other public 2.12%
- To ratify the payment of remuneration of Cost Auditors for the Financial Year 2025-26.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.16%
Turnout: all 83.43% · promoters 100.00% · institutions 84.77% · other public 2.12%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 10 Aug 2025, 9 resolutions
48,270 shareholders on the register on 7 Jul 2025; votes counted by Pradeep B Kulkarni / V. Sreedharan & Associates.The company's voting result (opens in a new tab)
- Appointment and re-designation of Dr. B. S. Ajaikumar (DIN: 00713779) as Non-Executive Director and Chairman of the board of Directors of the companySpecial96.52% for3.48% against
Against: promoters 0.00% · institutions 4.55% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
- Appointment of Mr. Akshay Tanna (DIN: 02967021) as Director (non-executive and Non-independent) of the companyOrdinary99.94% for0.06% against
Against: promoters 0.00% · institutions 0.08% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
- Appointment of Ms. Simrun Mehta (DIN: 09118938) as Director (non-executive and Non-Independent) of the companyOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.07% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
- Appointment and re-designation of Mrs. Anjali Ajaikumar Rossi (DIN: 08057112) as Non-executive Director of the companyOrdinary96.52% for3.48% against
Against: promoters 0.00% · institutions 4.55% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
- Adoption of amended Articles of Association of the companySpecial91.79% for8.21% against
Against: promoters 0.00% · institutions 10.72% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
- Approval of the Terms and Execution of the Consultancy Agreement with Dr. B.S. AjaikumarOrdinaryPromoters have an interest in it94.68% for5.32% against
Against: promoters 0.00% · institutions 6.06% · other public 0.49%
Turnout: all 74.06% · promoters 50.15% · institutions 97.20% · other public 1.81%
- Approval of the Terms and Execution of the Consultancy Agreement with Mrs. Anjali AjaikumarOrdinaryPromoters have an interest in it90.53% for9.47% against
Against: promoters 0.00% · institutions 10.78% · other public 0.44%
Turnout: all 74.06% · promoters 50.15% · institutions 97.20% · other public 1.81%
- Appointment of Dr. Manish Mattoo (DIN: 08431924) as Director (Executive Director) of the companySpecial92.87% for7.13% against
Against: promoters 0.00% · institutions 9.31% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
- Appointment of Mr. Bijou Kurien (DIN: 01802995) as an Independent Director of the companySpecial93.20% for6.80% against
Against: promoters 0.00% · institutions 8.88% · other public 0.04%
Turnout: all 84.93% · promoters 99.99% · institutions 97.20% · other public 15.68%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 27 Apr 2025, 5 resolutions
43,755 shareholders on the register on 21 Mar 2025; votes counted by Pradeep B Kulkarni / V. Sreedharan & Associated.The company's voting result (opens in a new tab)
- Reappointment of Mr. Pradip Manilal Kanakia (DIN: 00770347), as an Independent Director of the Company.Special99.93% for0.07% against
Against: promoters 0.00% · institutions 0.49% · other public 0.14%
Turnout: all 85.08% · promoters 100.00% · institutions 81.29% · other public 12.45%
- To consider and approve payment of Remuneration to the Independent Directors of the Company.Special96.75% for3.25% against
Against: promoters 0.00% · institutions 22.76% · other public 0.15%
Turnout: all 85.08% · promoters 100.00% · institutions 81.29% · other public 12.45%
- To consider and approve providing an option to surrender employee stock options held by employees of the Company and payment of cash.Special99.97% for0.03% against
Against: promoters 0.00% · institutions 0.18% · other public 0.18%
Turnout: all 85.08% · promoters 100.00% · institutions 81.29% · other public 12.45%
- To consider and approve adoption of the amended articles of association of the Company.Special96.88% for3.12% against
Against: promoters 0.00% · institutions 21.86% · other public 0.16%
Turnout: all 85.09% · promoters 100.00% · institutions 81.29% · other public 12.53%
- To consider and approve proposed payment of bonus to identified key managerial personnel and employees.OrdinaryPromoters have an interest in it74.01% for25.99% against
Against: promoters 0.00% · institutions 29.51% · other public 0.18%
Turnout: all 13.79% · promoters 0.00% · institutions 81.29% · other public 11.96%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 25 Sep 2024, 4 resolutions
Present: 3 promoters and 80 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited FinancialnStatements of the Company (including AuditednConsolidated Financial Statements) for the financial yearnended March 31, 2024, together with the Reports of thenBoard of Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.37%
Turnout: all 82.65% · promoters 100.00% · institutions 71.41% · other public 1.09%
- To appoint a Director in place of Ms. Anjali AjaikumarnRossi, (DIN: 08057112), who retires by rotation and beingneligible, offers herself for re-appointment.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.14% · other public 0.40%
Turnout: all 82.65% · promoters 100.00% · institutions 71.41% · other public 1.09%
- To appoint a Director in place of Mr. Siddharth TapaswinnPatel (DIN: 07803802), who retires by rotation and beingneligible, offers himself for re-appointment.Ordinary99.93% for0.07% against
Against: promoters 0.00% · institutions 0.50% · other public 0.40%
Turnout: all 82.65% · promoters 100.00% · institutions 71.41% · other public 1.09%
- To ratify the payment of remuneration to the CostnAuditors for the financial year 2024-25.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.37%
Turnout: all 82.65% · promoters 100.00% · institutions 71.41% · other public 1.09%
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, 8 Sep 2024, 2 resolutions
The company's voting result (opens in a new tab)
- Reappointment of Ms. Geeta Mathur (DIN: 02139552), as annIndependent Director of the CompanySpecial96.15% for3.85% against
Against: promoters 0.00% · institutions 28.85% · other public 0.18%
Turnout: all 82.64% · promoters 100.00% · institutions 71.70% · other public 2.62%
- Reappointment of Mr. Rajagopalan Raghavan (DIN:n03627923), as an Independent Director of the Company.Special96.14% for3.86% against
Against: promoters 0.00% · institutions 28.93% · other public 0.18%
Turnout: all 82.64% · promoters 100.00% · institutions 71.70% · other public 2.66%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 18 Sep 2026, 6 fund houses so far (houses' deadline to file 15 Oct 2026)
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited Financial Statements of the Company (including Audited Consolidated Financial Statements) for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
6 for0 against- To appoint a Director in place of Ms. Simrun Mehta, (DIN: 08057112), who retires by rotation and being eligible, offers herself for re-appointment.6 for0 against
- To appoint a Director in place of Mr. Akshay Tanna (DIN: 02967021), who retires by rotation and being eligible, offers himself for re-appointment.6 for0 against
- To approve extension of the term and modification of the Consultancy Agreement with Mrs. Anjali Ajaikumar Rossi, a Related Party.
Against Angel One Mutual Fund, ICICI Prudential Mutual Fund
- Angel One Mutual FundGovernance concern: Inadequate disclosure for determining proposed compensation.
- ICICI Prudential Mutual FundMs. Anjali Rossi, 40, is daughter of B. S. Ajaikumar-promoter and Non-Executive Chairperson. She served as Executive Director of HCG until 29 May 2025, heading quality implementation and strategic growth planning after which she was redesignated as a Non-Executive Director. Under the agreement with KKR effective 30 May 2025, she was redesignated as Non Executive Director and continued as a consultant supporting the company's fertility treatment and reproductive medicine business. The consultancy fee was set at Rs. 15.0 mn annually for 12 months from 30 May 2025 and accordingly she was paid consultancy fees of Rs. 10.8 mn on a prorated basis in FY26. She was entitled to a one-time fee of 2% of net cash proceeds above Rs. 1.5 bn on a full cash exit from BACC Healthcare Private Limited (BACC Healthcare); within three years of 30 May 2025, to a non-affiliated third party. In May 2026, the company sold its entire stake in BACC Healthcare, which runs the Milann fertility brand, to Inviga Healthcare Fund I, a related party, for Rs. 376.4 mn. Following this divestment, the company proposes to extend her consultancy agreement with a revised scope: strengthening quality metrics and excellence initiatives; advising on brand strategy, positioning, and corporate reputation management; providing strategic input on key projects; and supporting learning and development initiatives. The fee remains at an annualized Rs. 15.0 mn, paid monthly on a proportionate basis and thus capped at Rs. 7.5 mn for the extended term, plus expense reimbursement. Anjali Rossi's proposed annualised remuneration of Rs. 15.0 mn is unchanged from that approved in 2023, when she held an executive position. It is unclear how the board has benchmarked her remuneration as a consultant. Hence the AMC has voted against the resolution.
4 for2 against - To ratify the payment of remuneration to the Cost Auditors for the financial year 2026-27.1 for0 against
1 proposal not matched to one resolution
Ratification of Rs. 2,50,000 plus applicable taxes and reimbursement of out-of-pocket expenses payable to M/s. Rao, Murthy and Associates, Cost Accountants, (Firm Registration No. 00065), appointed by the Board of Directors, on recommendation of Audit Committee, as Cost Auditors to conduct the audit of the cost records maintained by the Company for the financial year ending March 31, 2027.MoreLess
5 for0 against
Mutual fund votes, meeting of 8 Jul 2026, 4 fund houses so far (houses' deadline to file 15 Oct 2026)
- To approve HCG Employee Stock Option Scheme – 2026
Against Angel One Mutual Fund, Helios Mutual Fund
- Angel One Mutual FundGovernance and Transparency Concern: Exercise price is not adequately disclosed. Transparency Concern: No clarity whether the options have been or would be granted to employees prior to shareholders' approval of the Scheme or not.
- Helios Mutual FundCompliant with law. Governance and Transparency Concern: Exercise price is not adequately disclosed. Transparency Concern: No clarity whether the options have been or would be granted to employees prior to shareholders' approval of the Scheme or not.
2 for2 against - To approve grant of stock options to the employees of the group companies, including subsidiary and associate companies of the Company under HCG Employee Stock Option Scheme – 2026
Against Angel One Mutual Fund, Helios Mutual Fund
- Angel One Mutual Fund"Interlinked with Resolution #1. Governance and Transparency concern: Scheme proposed to be extended to Group / Associate Companies without compelling reasons and no affirmation on cost re-imbursement."
- Helios Mutual FundGovernance and Transparency Concern: Interlinked with Resolution #1. Governance and Transparency concern: Scheme proposed to be extended to Group / Associate Companies without compelling reasons and no affirmation on cost re-imbursement.
2 for2 against - To approve the grant of employee stock options to an employee exceeding 1% of the issued share capital of the Company.
Against Angel One Mutual Fund, Helios Mutual Fund
- Angel One Mutual Fund"Interlinked with Resolution #1. Transparency Concern: No satisfactory rationale for granting significant number of ESOPs i.e. ~25% of total pool size, to a single employee."
- Helios Mutual FundGovernance & Transparency Concern: Interlinked with Resolution #1. Transparency Concern: No satisfactory rationale for granting significant number of ESOPs i.e. ~25% of total pool size, to a single employee.
2 for2 against - Reappointment of Mr. Rajiv Maliwal (DIN: 00869035), as an Independent Director of the Company
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance Concern: Proposed fixed remuneration to Independent Director may vitiate independence of the Independent Director. Transparency Concern: Non-disclosure of Board attendance for FY 2025-26.
3 for1 against - Revision in the remuneration of Dr. Manish Mattoo (DIN: 08431924), Executive Director and Chief Executive Officer of the Company
Against Angel One Mutual Fund, Helios Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: No absolute cap on the potential ESOPs benefits. Proposed stock options under Resolution #3, appears excessive considering the performance of the Company; and the Company has not provided adequate justification with objective performance criteria for such significant benefits to an individual.
- Helios Mutual FundCompliant with law. Governance & Transparency Concern: No absolute cap on the potential ESOPs benefits. Proposed stock options under Resolution #3, appears excessive considering the performance of the Company; and the Company has not provided adequate justification with objective performance criteria for such significant benefits to an individual.
2 for2 against
6 earlier meetings
Mutual fund votes, meeting of 21 Jan 2026, 13 fund houses
- APPROVAL OF THE VARIATIONS TO THE CONSULTANCY ARRANGEMENT WITH DR. B.S. AJAIKUMAR
Against Angel One Mutual Fund, Groww Mutual Fund
- Angel One Mutual FundGovernance Concern: Inadequate Disclosures – The Company has not disclosed how the underlying professional fee of ₹ 4 Crore, along with the proposed increase of ₹ 2 Crore, is fair, and at arm’s length.
- Groww Mutual FundCompliant with law. Governance Concern: Inadequate Disclosures – The Company has not disclosed how the Underlying Professional Fee of ? 4 Crore, along with the proposed increase of ? 2 Crore, is fair, and at Arm’s Length.
11 for2 against
Mutual fund votes, meeting of 25 Sep 2025, 12 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited Financial Statements of the Company (including Audited Consolidated Financial Statements) for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
12 for0 against- To appoint a Director in place of Mrs. Anjali Ajaikumar Rossi, (DIN: 08057112), who retires by rotation and being eligible, offers herself for re-appointment.
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Concern identified in the office of profit position held.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Concern identified in the office of profit position held.
9 for3 against - To approve the appointment of Secretarial Auditors of the Company.12 for0 against
1 proposal not matched to one resolution
Ratification of remuneration of Rs. 2,50,000 plus applicable taxes and reimbursement of out-of-pocket expenses that may be incurred in connection with the aforesaid audit, payable to M/s. Rao, Murthy and Associates, Cost Accountants, (Firm Registration No. 00065), appointed by the Board of Directors, on recommendation of Audit Committee, as Cost Auditors to conduct the audit of the cost records maintained by the Company for the financial year ending March 31, 2026.MoreLess
12 for0 against
Mutual fund votes, meeting of 10 Aug 2025, 9 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Appointment and re-designation of Dr. B. S. Ajaikumar (DIN: 00713779) as Non-Executive Director and Chairman of the board of Directors of the company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundTransparency Concern: Non-disclosure of Board meeting attendance for FY 2024-25.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Transparency Concern: Non-disclosure of Board meeting attendance for FY 2024-25.
5 for4 against - Appointment of Mr. Akshay Tanna (DIN: 02967021) as Director (non-executive and Non-independent) of the company9 for0 against
- Appointment of Ms. Simrun Mehta (DIN: 09118938) as Director (non-executive and Non-Independent) of the company9 for0 against
- Appointment and re-designation of Mrs. Anjali Ajaikumar Rossi (DIN: 08057112) as Non-executive Director of the company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundTransparency Concern: Non-disclosure of Board meeting attendance for FY 2024-25.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Transparency Concern: Non-disclosure of Board meeting attendance for FY 2024-25.
5 for4 against - Adoption of amended Articles of Association of the company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundProvision for Board composition with less than 6 Directors. Governance Concern: Provision to appoint Alternate Directors; Board meeting quorum contingent upon presence of Investment director; Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI LODR 2015: Provision for Board composition with less than 6 Directors. Governance Concern: Provision to appoint Alternate Directors; Board meeting quorum contingent upon presence of Investment director; Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundNon-compliant with SEBI LODR 2015: Provision for Board composition with less than 6 Directors.
3 for6 against - Appointment of Dr. Manish Mattoo (DIN: 08431924) as Director (Executive Director) of the company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: No absolute cap on the potential ESOP benefits.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundComplaint with law. Governance & Transparency Concern: No major concern on the proposed quantum of remuneration per-se; however, no absolute cap on the potential ESOP benefits.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundGovernance & Transparency Concern: No major concern on the proposed quantum of remuneration per-se; however, no absolute cap on the potential ESOP benefits.
3 for6 against - Appointment of Mr. Bijou Kurien (DIN: 01802995) as an Independent Director of the company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Proposed remuneration fixed in nature.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Proposed remuneration fixed in nature.
4 for5 against
2 proposals not matched to one resolution
The consultancy agreement for provision of certain professional services by Dr. B.S. Ajaikumar to the Company (Consultancy Agreement), for a consultancy fee of INR 4,00,00,000 per annum (payable monthly in equal instalments) for a period until 30 June 2030, by and between the Company and Dr. B.S. Ajaikumar (DIN: 00713779), a related party who shall hold office and a place of profit under Section 188(1)(f) of the Companies Act, 2013.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Inadequate disclosure to determining proposed compensation.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Inadequate disclosure to determining proposed compensation.
5 for4 againstThe consultancy agreement for provision of certain professional services by Mrs. Anjali Ajaikumar Rossi to the Company (Consultancy Agreement), for a consultancy fee for professional services, for a period of twelve months from the date of receipt of approval of Members for the Consultancy Agreement (Effective Date), by and between the Company and Mrs. Anjali Ajaikumar Rossi (DIN: 08057112), a related party who shall hold office and a place of profit under Section 188(1)(f) of the Companies Act, 2013.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Inadequate disclosure to determining proposed compensation.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Inadequate disclosure to determining proposed compensation.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
3 for6 against
Mutual fund votes, meeting of 27 Apr 2025, 9 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Reappointment of Mr. Pradip Manilal Kanakia (DIN: 00770347), as an Independent Director of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund
- Angel One Mutual FundNon-Compliance: Re-appointment of Independent Director is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as an Independent Director.
- Bandhan Mutual Fund, Groww Mutual FundNo concern on the merits of the proposed appointee. Non-Compliance: Re-appointment of ID is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as an ID.
6 for3 against - To consider and approve providing an option to surrender employee stock options held by employees of the Company and payment of cash.9 for0 against
- To consider and approve adoption of the amended articles of association of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundNon-compliant with SEBI LODR 2015: Provision for Board composition with less than 6 Directors Governance Concern: Provision to combine the position of Chairperson & Executive Director / Managing Director; Provision to appoint Alternate Directors included in the proposed articles of association; Appointment of Nominee Executive Director.
- Bandhan Mutual Fund, Groww Mutual FundNon-compliant with SEBI LODR 2015: Provision for Board composition with less than 6 Directors Governance Concern: Provision to combine the position of Chairperson & ED / MD; Provision to appoint Alternate Directors included in the proposed AoA; Appointment of Nominee Executive Director.
- Nippon India Mutual FundNon-Compliant
5 for4 against - To consider and approve proposed payment of bonus to identified key managerial personnel and employees.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundGovernance & Transparency concern: Basis of selecting allottees & Basis of determining amount proposed is not disclosed by the company.
- Bandhan Mutual Fund, Groww Mutual FundCompliant with Law. Governance & Transparency concern: Basis of selecting allottees & Basis of determining amount proposed is not disclosed by the company.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundGovernance Concern: Inadequate disclosure
4 for5 against
1 proposal not matched to one resolution
To pay remuneration of INR 35 Lakh per annum, to each of the Independent Directors of the Company, effective from the Financial Year 2025 - 2026, payable on a quarterly or yearly basis, as decided by the Board of Directors of the Company.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundGovernance & Transparency concern: Inadequate disclosures, Company has not provided adequate justification for significant increase in proposed remuneration limits. Proposed fixed remuneration appears excessive; Shareholders’ approval for uncertain term.
- Bandhan Mutual Fund, Groww Mutual FundCompliant with law. Governance & Transparency concern: Inadequate disclosures, Company has not provided adequate justification for significant increase in proposed remuneration limits. Proposed fixed remuneration appears excessive; Shareholders approval for uncertain term.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundGovernance Concern: Inadequate disclosure
4 for5 against
Mutual fund votes, meeting of 25 Sep 2024, 7 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited FinancialnStatements of the Company (including AuditednConsolidated Financial Statements) for the financial yearnended March 31, 2024, together with the Reports of thenBoard of Directors and the Auditors thereon.MoreLess
7 for0 against- To appoint a Director in place of Ms. Anjali AjaikumarnRossi, (DIN: 08057112), who retires by rotation and beingneligible, offers herself for re-appointment.7 for0 against
- To appoint a Director in place of Mr. Siddharth TapaswinnPatel (DIN: 07803802), who retires by rotation and beingneligible, offers himself for re-appointment.7 for0 against
1 proposal not matched to one resolution
Ratification of remuneration of INR 2,00,000 (exclusive of taxes and re - imbursement of actual out - of - pocket expenses) payable to M/s. Rao, Murthy and Associates, Cost Accountants, (Firm Registration No. 00065) appointed as Cost Auditors, for conducting audit of cost records of the Company for the Financial Year 2024 - 25.MoreLess
7 for0 against
Mutual fund votes, meeting of 8 Sep 2024, 6 fund houses
- Reappointment of Ms. Geeta Mathur (DIN: 02139552), as annIndependent Director of the Company
Against Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Motilal Oswal Mutual Fund, Nippon India Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not accordance with law, no prior approval of shareholders obtained for re-appointment as an Independent Director. Governance Concern: Lack of clarity regarding attendance disclosures.
4 for2 against - Reappointment of Mr. Rajagopalan Raghavan (DIN:n03627923), as an Independent Director of the Company.
Against Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Motilal Oswal Mutual Fund, Nippon India Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not accordance with law, no prior approval of shareholders obtained for re-appointment as an Independent Director. Governance Concern: Lack of clarity regarding attendance disclosures.
4 for2 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
- 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.
How money raised was used
Reported for the quarter to Jun 2026. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere | Spent elsewhere, amount |
|---|---|---|---|---|---|---|
| Rights IssuesMar 2026, checked by Care Ratings Limited | 424.68 | Pre-payment and/ or repayment of all, or a portion of, certain outstanding borrowings availed by our Company and by one of our wholly owned Subsidiaries, HCG NCHRI Oncology LLP | 170.00 | 170.00 | No | |
| Rights IssuesMar 2026, checked by Care Ratings Limited | 424.68 | Part-payment of consideration for acquisition of 34.00% additional stake in equity share capital of Vizag Hospital and Cancer Research Center Private Limited, one of our existing Subsidiaries | 154.04 | 154.04 | No | |
| Rights IssuesMar 2026, checked by Care Ratings Limited | 424.68 | General corporate purposes*# | 95.57 | 95.83 | No | 0.27 |
| Rights IssuesMar 2026, checked by Care Ratings Limited | 424.68 | Issue related expenses** | 5.07 | 4.81 | No | 0.27 |