HDFC Asset Management Company logo

HDFC Asset Management Company CEO, MD, chairman, board of directors and AGM

NSE: HDFCAMCBSE: 541729Capital MarketsLarge Cap

Last close ₹2,250.00down ₹23.20 (1.02%)BSE ₹2,250.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹2,273.20.

52-week range of traded prices to 23 Oct 2026
₹2,205.60Low, 30 Mar 2026₹2,901.50High, 18 Feb 2026
Market cap
₹96,542 Cr96th largest listed
P/E
32.4
P/B
11.2
Dividend yield
2.40%
ROE
36.4%
ROCE
39.7%
Debt to equity
0.00
Volume, NSE
11,01,31455.3% delivered

HDFC Asset Management Company 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

  • ChairpersonDeepak Shantilal Parekh
  • Managing director and CEONavneet Munot
  • Company Secretary and Compliance OfficerSonali Chandak

9 directors5 independent1 executive3 non-executive

  • Deepak Shantilal Parekh · ChairpersonNon-executive · joined Jul 2000 · 3 listed boards · 1 as independent · 3 committee seats, 1 as chair
  • Renu Sud KarnadNon-executive · joined Jul 2000 · 4 listed boards · 1 as independent · 7 committee seats, 1 as chair
  • Kaji Dhruv SubodhIndependent · joined Oct 2018 · reappointed Oct 2023 · 92 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • Jairaj Manohar PurandareIndependent · joined Oct 2018 · reappointed Oct 2023 · 92 months as independent · 4 listed boards · 4 as independent · 7 committee seats, 4 as chair
  • Sanjay Vijay BhandarkarIndependent · joined Oct 2018 · reappointed Oct 2023 · 92 months as independent · 5 listed boards · 5 as independent · 7 committee seats, 4 as chair
  • Parag C ShahIndependent · joined Jan 2019 · reappointed Jan 2024 · 89 months as independent · 4 listed boards · 4 as independent · 4 committee seats
  • Roshni Nadar MalhotraIndependent · joined Apr 2019 · reappointed Apr 2024 · 86 months as independent · 2 listed boards · 1 as independent · 1 committee seat
  • Navneet Munot · Managing director and CEOExecutive · joined Feb 2021 · 1 listed board
  • V S RanganNominee, non-executive · joined Jan 2024 · 3 listed boards · 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

    • 21 May 20268 of 9 present4 independent · 34 days in between
    • 16 Apr 20269 of 9 present5 independent · 16 days in between
    • 30 Mar 20269 of 9 present5 independent · 74 days in between
    • 14 Jan 20269 of 9 present5 independent

  • Audit Committee

    Chair Kaji Dhruv Subodh

    Jairaj Manohar Purandare, Sanjay Vijay Bhandarkar, V S Rangan

    • 21 May 20263 of 4 present2 independent · 34 days in between
    • 16 Apr 20264 of 4 present3 independent · no day in between
    • 15 Apr 20264 of 4 present3 independent · 15 days in between
    • 30 Mar 20264 of 4 present3 independent · 74 days in between
    2 earlier meetings
    • 14 Jan 20264 of 4 present3 independent · no day in between
    • 13 Jan 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Jairaj Manohar Purandare

    Deepak Shantilal Parekh, Kaji Dhruv Subodh, Parag C Shah

    • 21 May 20263 of 4 present2 independent · 34 days in between
    • 16 Apr 20264 of 4 present3 independent · 16 days in between
    • 30 Mar 20264 of 4 present3 independent · 74 days in between
    • 14 Jan 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Sanjay Vijay Bhandarkar

    Renu Sud Karnad, Deepak Shantilal Parekh, Jairaj Manohar Purandare, Kaji Dhruv Subodh, Parag C Shah

    • 16 Apr 20266 of 6 present4 independent · 91 days in between
    • 14 Jan 20266 of 6 present4 independent

  • Risk Management Committee

    Chair Deepak Shantilal Parekh

    Renu Sud Karnad, Sanjay Vijay Bhandarkar, V S Rangan, Kaji Dhruv Subodh

    • 16 Apr 20265 of 5 present2 independent · 91 days in between
    • 14 Jan 20264 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair Deepak Shantilal Parekh

    Parag C Shah, Navneet Munot, Sanjay Vijay Bhandarkar

    • 21 May 20264 of 4 present2 independent · 35 days in between
    • 15 Apr 20264 of 4 present2 independent · 90 days in between
    • 14 Jan 20264 of 4 present2 independent

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

Statutory auditor

Named in the results for the quarter to Mar 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.

HDFC Asset Management Company 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.HDFC Asset Management Company dividend history

Annual general meeting, 24 Jun 2026

4,48,410 shareholders on the register on 17 Jun 2026; present: 1 promoter and 65 others; votes counted by Surjan Singh Rauthan / M/s. Rauthan & Associates Company Secretaries LLP.The company's voting result (opens in a new tab)

  1. TO RECEIVE, CONSIDER AND ADOPT: (a) The Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and (b) The Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 together with the Reports of the Auditors thereon;MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 84.48% · promoters 100.00% · institutions 81.31% · other public 5.79%

  2. To declare a dividend of Rs. 54/- per equity share for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 84.54% · promoters 100.00% · institutions 81.48% · other public 5.79%

  3. Re-appointment of Mr. V. Srinivasa Rangan as Non-Executive Non- Independent Director of the Company.
    OrdinaryPromoters have an interest in it
    94.47% for5.53% against

    Against: promoters 0.00% · institutions 14.75% · other public 0.25%

    Turnout: all 84.54% · promoters 100.00% · institutions 81.48% · other public 5.79%

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

Postal ballot, 16 Nov 2025, 1 resolution

4,45,397 shareholders on the register on 15 Oct 2025; votes counted by Surjan Singh Rauthan / S. S. Rauthan & Associates.The company's voting result (opens in a new tab)

  1. Approval for the issue of Bonus Shares
    Ordinary
    97.51% for2.49% against

    Against: promoters 0.00% · institutions 6.64% · other public 0.13%

    Turnout: all 84.70% · promoters 100.00% · institutions 81.88% · other public 5.92%

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 Jun 2025, 4 resolutions

4,39,934 shareholders on the register on 18 Jun 2025; present: 1 promoter and 110 others; votes counted by Surjan Singh Rauthan / S. S. Rauthan & Associates.The company's voting result (opens in a new tab)

  1. TO RECEIVE, CONSIDER AND ADOPT: (a) The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of Board of Directors and Auditors thereon; and (b) The Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Reports of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.72% · promoters 100.00% · institutions 84.82% · other public 6.09%

  2. To declare a dividend of Rs.90/- per equity share for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.79% · promoters 100.00% · institutions 85.03% · other public 6.09%

  3. Re-appointment of Mr. Deepak S. Parekh (DIN: 00009078) as Non-Executive Non- Independent Director and Chairman of the Company.
    Special
    98.60% for1.41% against

    Against: promoters 0.00% · institutions 3.67% · other public 0.06%

    Turnout: all 85.79% · promoters 100.00% · institutions 85.01% · other public 6.09%

  4. Appointment of Secretarial Auditors of the Company.
    Ordinary
    99.64% for0.36% against

    Against: promoters 0.00% · institutions 0.93% · other public 0.22%

    Turnout: all 85.79% · promoters 100.00% · institutions 85.01% · other public 6.09%

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, 6 Jun 2025, 2 resolutions

4,45,165 shareholders on the register on 2 May 2025; votes counted by Surjan Singh Rauthan / S. S. Rauthan & Associates.The company's voting result (opens in a new tab)

  1. Approval of the Employees Stock Options and Performance-linked Stock Units Scheme – 2025 for grant of Employee Stock Options and Performance–linked Stock Units to eligible employees of the Company
    Special
    98.75% for1.25% against

    Against: promoters 0.00% · institutions 3.33% · other public 0.48%

    Turnout: all 85.06% · promoters 100.00% · institutions 83.10% · other public 8.09%

  2. Approval of the Employees Stock Options and Performance-linked Stock Units Scheme – 2025 for grant of Employee Stock Options and Performance-linked Stock Units to eligible employees of Subsidiary/ies of the CompanyMoreLess
    Special
    99.09% for0.91% against

    Against: promoters 0.00% · institutions 2.42% · other public 0.51%

    Turnout: all 85.06% · promoters 100.00% · institutions 83.10% · other public 8.09%

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.

Annual general meeting, 25 Jul 2024, 8 resolutions

Present: 1 promoter and 60 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a. the audited financial statements of the Company for the financial year ended March 31, 2024 together with the Reports of Board of Directors and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2024 together with the Report of the Auditors thereon.MoreLess
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.02%

    Turnout: all 88.25% · promoters 100.00% · institutions 90.53% · other public 11.66%

  2. Confirmation of Interim Dividend of Rs. 70/- per equity share of Rs. 5/- each, for the Financial Year ended March 31, 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.26% · promoters 100.00% · institutions 90.57% · other public 11.66%

  3. Re-appointment of Ms. Renu Sud Karnad (DIN: 00008064), as a Director of the Company
    Ordinary
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 1.74% · other public 0.03%

    Turnout: all 88.18% · promoters 100.00% · institutions 90.56% · other public 10.80%

  4. Approval for fixing commission to Non-Executive Directors including Independent Directors of the Company
    Ordinary
    99.93% for0.07% against

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

    Turnout: all 88.08% · promoters 100.00% · institutions 90.56% · other public 9.66%

  5. Approval for re-appointment of Mr. Navneet Munot as the Managing Director & Chief Executive Officer of the Company
    Ordinary
    93.09% for6.91% against

    Against: promoters 0.00% · institutions 17.58% · other public 0.03%

    Turnout: all 88.25% · promoters 100.00% · institutions 90.56% · other public 11.55%

  6. Approval for amendments to Articles of Association of the Company
    SpecialPromoters have an interest in it
    96.17% for3.83% against

    Against: promoters 0.00% · institutions 10.67% · other public 0.12%

    Turnout: all 83.27% · promoters 100.00% · institutions 78.00% · other public 9.66%

  7. Approval for extending the benefit and coverage of Employee Stock Option Scheme – 2020 of the Company to the eligible employees of HDFC AMC International (IFSC) Limited, a Wholly Owned Subsidiary of the CompanyMoreLess
    Special
    99.19% for0.81% against

    Against: promoters 0.00% · institutions 2.05% · other public 0.05%

    Turnout: all 88.26% · promoters 100.00% · institutions 90.56% · other public 11.66%

  8. Approval of special rights available to HDFC Bank Limited
    SpecialPromoters have an interest in it
    99.47% for0.53% against

    Against: promoters 0.00% · institutions 1.49% · other public 0.11%

    Turnout: all 83.27% · promoters 100.00% · institutions 78.00% · other public 9.65%

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, 1 Mar 2024, 1 resolution

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

  1. Approval for appointment of Mr. V.Srinivasa Rangan (DIN: 00030248) as a Non-Executive Director (Nominee of HDFC Bank Limited, Promoter of the Company)
    OrdinaryPromoters have an interest in it
    98.73% for1.27% against

    Against: promoters 0.00% · institutions 3.39% · other public 0.14%

    Turnout: all 86.24% · promoters 100.00% · institutions 85.61% · other public 13.63%

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, 26 Jun 2023, 8 resolutions

Present: 1 promoter and 86 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a. the audited financial statements of the Company for the financial year ended March 31, 2023 together with the Reports of Board of Directors and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.73%

  2. Declaration of Dividend of INR 48/- per equity share for the financial year ended March 31, 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.73%

  3. To not fill up the vacancy caused by retirement of Mr. Keki Mistry who (DIN:00008886) retires by rotation at the conclusion of this Annual General Meeting
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.73%

  4. Approval for the re-appointment of Mr. Dhruv Kaji (DIN:00192559) as an Independent Director of the Company
    Special
    99.36% for0.64% against

    Against: promoters 0.00% · institutions 2.20% · other public 0.10%

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.72%

  5. Approval for the re-appointment of Mr. Jairaj Purandare (DIN:00159886) as an Independent Director of the Company
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 1.14% · other public 0.09%

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.72%

  6. Approval for the re-appointment of Mr. Sanjay Bhandarkar (DIN: 01260274) as an Independent Director of the Company
    Special
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 0.78% · other public 0.09%

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.72%

  7. Approval for the re-appointment of Mr. Parag Shah (DIN:00374944) as an Independent Director of the Company
    Special
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 0.79% · other public 0.09%

    Turnout: all 75.62% · promoters 100.00% · institutions 87.16% · other public 4.72%

  8. Approval for the re-appointment of Ms. Roshni Nadar Malhotra (DIN:02346621) as an Independent Director of the Company
    Special
    93.18% for6.82% against

    Against: promoters 0.00% · institutions 23.65% · other public 0.09%

    Turnout: all 75.30% · promoters 100.00% · institutions 85.92% · other public 4.72%

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, 29 Jun 2022, 4 resolutions

Present: 2 promoters and 93 others.The company's voting result (opens in a new tab)

  1. Adoption of Financial Statements
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 86.27% · promoters 100.00% · institutions 86.56% · other public 10.07%

  2. Declaration of Dividend
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 86.27% · promoters 100.00% · institutions 86.56% · other public 10.07%

  3. Re-appointment of Statutory Auditors of the Company and to fix their remuneration
    Ordinary
    99.22% for0.78% against

    Against: promoters 0.00% · institutions 4.12% · other public 0.06%

    Turnout: all 86.26% · promoters 100.00% · institutions 86.56% · other public 10.03%

  4. To re-appoint Mr. Deepak S. Parekh as Non-Executive Director of the Company
    Special
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 3.70% · other public 0.07%

    Turnout: all 86.19% · promoters 100.00% · institutions 86.53% · other public 9.47%

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.

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 24 Jun 2026, 41 fund houses

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

  • TO RECEIVE, CONSIDER AND ADOPT: (a) The Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and (b) The Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 together with the Reports of the Auditors thereon;MoreLess
    40 for0 against
  • To declare a dividend of Rs. 54/- per equity share for the financial year ended March 31, 2026.
    40 for0 against
  • Re-appointment of Mr. V. Srinivasa Rangan as Non-Executive Non- Independent Director of the Company.
    41 for0 against
2 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 16 Nov 2025, 37 fund houses

  • Approval for the issue of Bonus Shares
    37 for0 against
6 earlier meetings

Mutual fund votes, meeting of 25 Jun 2025, 33 fund houses

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

  • TO RECEIVE, CONSIDER AND ADOPT: (a) The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of Board of Directors and Auditors thereon; and (b) The Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Reports of the Auditors thereon.MoreLess
    32 for0 against
  • To declare a dividend of Rs.90/- per equity share for the financial year ended March 31, 2025.
    32 for0 against
  • Re-appointment of Mr. Deepak S. Parekh (DIN: 00009078) as Non-Executive Non- Independent Director and Chairman of the Company.
    32 for0 against
  • Appointment of Secretarial Auditors of the Company.
    33 for0 against
3 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 6 Jun 2025, 33 fund houses

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

  • Approval of the Employees Stock Options and Performance-linked Stock Units Scheme – 2025 for grant of Employee Stock Options and Performance–linked Stock Units to eligible employees of the Company
    28 for0 against
  • Approval of the Employees Stock Options and Performance-linked Stock Units Scheme – 2025 for grant of Employee Stock Options and Performance-linked Stock Units to eligible employees of Subsidiary/ies of the CompanyMoreLess
    28 for0 against
6 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • 1) Approve the Employees Stock Options and Performance-linked Stock Units Scheme – 2025 (ESOP and PSU scheme 2025) under which upto 2.5 mn ESOPs and PSUs can be granted.
    1 for0 against
  • 2) Approve extension of Employees Stock Options and Performance-linked Stock Units Scheme – 2025 to the eligible employees of subsidiaries.
    1 for0 against
  • Approve extension of Employees Stock Options and Performance-linked Stock Units Scheme – 2025 to the eligible employees of subsidiaries
    3 for0 against
  • Approve the Employees Stock Options and Performance-linked Stock Units Scheme – 2025 (ESOP and PSU scheme 2025) under which upto 2.5 mn ESOPs and PSUs can be granted
    3 for0 against

Mutual fund votes, meeting of 25 Jul 2024, 28 fund houses

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

  • To receive, consider and adopt: a. the audited financial statements of the Company for the financial year ended March 31, 2024 together with the Reports of Board of Directors and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2024 together with the Report of the Auditors thereon.MoreLess
    27 for0 against
  • Confirmation of Interim Dividend of Rs. 70/- per equity share of Rs. 5/- each, for the Financial Year ended March 31, 2024
    27 for0 against
  • Re-appointment of Ms. Renu Sud Karnad (DIN: 00008064), as a Director of the Company
    28 for0 against
  • Approval for fixing commission to Non-Executive Directors including Independent Directors of the Company
    28 for0 against
  • Approval for re-appointment of Mr. Navneet Munot as the Managing Director & Chief Executive Officer of the Company
    Against HSBC Mutual Fund
    • HSBC Mutual FundThe company has failed to provide the quantum or value of stock options that the executive is entitled to receive. This might lead to discretionary payouts.The company has not provided an absolute monetary cap on the commission element, thus leaving the overall pay structure open-ended.Further, there are no disclosures on the threshold and target performance that the executive needs to achieve in order to determine the payouts under the commission element.The resolution entails giving discretion to the board to increase the salary for the executives. Increases in fixed pay should be accompanied with adequate rationale justifying the increase.The executive's overall pay quantum is aggressively positioned in comparison to industry peers.
    27 for1 against
  • Approval for amendments to Articles of Association of the Company
    Against 360 One Mutual Fund, Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PGIM India Mutual Fund, Zerodha Mutual Fund
    • 360 One Mutual FundCompliant with law. While HDFC Bank will have the right to nominate a Chairperson, we believe the company must refrain from naming specific individuals as Chairperson on the board
    • Axis Mutual Fund, DSP Mutual Fund, NJ Mutual FundThe abrdn Investment Management Limited, one of the erstwhile promoters, sold its entire shareholding in HDFC AMC during FY24. Pursuant to the merger of Housing Development Finance Corporation with and into HDFC Bank effective from 1 July 2023, HDFC Bank has become the promoter of HDFC AMC. The company proposes to alter the Article of Association (AoA) in order to carry out changes: (i) to remove references of erstwhile foreign promoter i.e. abrdn; (ii) to make necessary modifications to incorporate the necessary references to HDFC Bank in place of Housing Development Finance Corporation Limited; and (iii) to update the AoA in compliance with current laws and regulations. The existing and proposed AoA are available on the company’s website. We raise concerns that certain special rights such as the right to nominate its nominee directors to various board committees will be transferred to HDFC Bank. We do not support committee nomination rights. While HDFC Bank will have the right to nominate a Chairperson, we believe the company must refrain from naming specific individuals as Chairperson on the board.
    • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, PGIM India Mutual FundCompliant with law. Governance Concern: Provision for appointment of Alternate Directors.
    • Edelweiss Mutual FundFull information not given
    • Invesco Mutual FundThe abrdn Investment Management Limited, one of the erstwhile promoters, sold its entire shareholding in HDFC AMC during FY24. Pursuant to the merger of Housing Development Finance Corporation with and into HDFC Bank effective from 1 July 2023, HDFC Bank has become the promoter of HDFC AMC. The company proposes to alter the Article of Association (AoA) in order to carry out changes: (i) to remove references of erstwhile foreign promoter i.e. abrdn; (ii) to make necessary modifications to incorporate the necessary references to HDFC Bank in place of Housing Development Finance Corporation Limited; and (iii) to update the AoA in compliance with current laws and regulations. The existing and proposed AoA are available on the company’s website. We raise concerns that certain special rights such as the right to nominate its nominee directors to various board committees will be transferred to HDFC Bank. We do not support committee nomination rights. While HDFC Bank will have the right to nominate a Chairperson, we believe the company must refrain from naming specific individuals as Chairperson on the board
    • Nippon India Mutual FundNon- compliant with the Accounting Standards
    • Zerodha Mutual FundGovernance Concern: Provision for appointment of Alternate Directors.
    14 for13 against
  • Approval for extending the benefit and coverage of Employee Stock Option Scheme – 2020 of the Company to the eligible employees of HDFC AMC International (IFSC) Limited, a Wholly Owned Subsidiary of the CompanyMoreLess
    28 for0 against
  • Approval of special rights available to HDFC Bank Limited
    Against Axis Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Invesco Mutual Fund
    • Axis Mutual Fund, DSP Mutual FundOur view is linked to Resolution # 6. Following the reverse merger of HDFC into HDFC Bank, the special rights afforded to HDFC will be transferred to HDFC Bank, as HDFC AMC’s promoter. The special rights relate to board nomination including appointing the Chairperson of the company. While the board nomination rights are linked to a shareholding threshold, committee nomination rights exist by the virtue of the board nomination rights. We do not support committee nomination rights. Hence, we are unable to support the resolution.
    • Edelweiss Mutual FundAgainst Minority share holders
    • Invesco Mutual FundOur view is linked to Resolution # 6. Following the reverse merger of HDFC into HDFC Bank, the special rights afforded to HDFC will be transferred to HDFC Bank, as HDFC AMC’s promoter. The special rights relate to board nomination including appointing the Chairperson of the company. While the board nomination rights are linked to a shareholding threshold, committee nomination rights exist by the virtue of the board nomination rights. We do not support committee nomination rights. Hence, we are unable to support the resolution
    23 for4 against
4 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe abrdn Investment Management Limited, one of the erstwhile promoters, sold its entire shareholding in HDFC AMC during FY24. Pursuant to the merger of Housing Development Finance Corporation with and into HDFC Bank effective from 1 July 2023, HDFC Bank has become the promoter of HDFC AMC. The company proposes to alter the Article of Association (AoA) in order to carry out changes: (i) to remove references of erstwhile foreign promoter i.e. abrdn; (ii) to make necessary modifications to incorporate the necessary references to HDFC Bank in place of Housing Development Finance Corporation Limited; and (iii) to update the AoA in compliance with current laws and regulations. The existing and proposed AoA are available on the company’s website. We raise concerns that certain special rights such as the right to nominate its nominee directors to various board committees will be transferred to HDFC Bank. We do not support committee nomination rights. While HDFC Bank will have the right to nominate a Chairperson, we believe the company must refrain from naming specific individuals as Chairperson on the board.
    0 for1 against
  • Item 8, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundOur view is linked to Resolution # 6. Following the reverse merger of HDFC into HDFC Bank, the special rights afforded to HDFC will be transferred to HDFC Bank, as HDFC AMC’s promoter. The special rights relate to board nomination including appointing the Chairperson of the company. While the board nomination rights are linked to a shareholding threshold, committee nomination rights exist by the virtue of the board nomination rights. We do not support committee nomination rights. Hence, we are unable to support the resolution.
    0 for1 against

Mutual fund votes, meeting of 1 Mar 2024, 26 fund houses

  • Approval for appointment of Mr. V.Srinivasa Rangan (DIN: 00030248) as a Non-Executive Director (Nominee of HDFC Bank Limited, Promoter of the Company)
    26 for0 against

Mutual fund votes, meeting of 26 Jun 2023, 21 fund houses

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

  • To receive, consider and adopt: a. the audited financial statements of the Company for the financial year ended March 31, 2023 together with the Reports of Board of Directors and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 together with the Report of the Auditors thereon.MoreLess
    20 for0 against
  • Declaration of Dividend of INR 48/- per equity share for the financial year ended March 31, 2023
    20 for0 against
  • To not fill up the vacancy caused by retirement of Mr. Keki Mistry who (DIN:00008886) retires by rotation at the conclusion of this Annual General Meeting
    21 for0 against
  • Approval for the re-appointment of Mr. Dhruv Kaji (DIN:00192559) as an Independent Director of the Company
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNot independent anymore
    20 for1 against
  • Approval for the re-appointment of Mr. Jairaj Purandare (DIN:00159886) as an Independent Director of the Company
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNot independent anymore
    20 for1 against
  • Approval for the re-appointment of Mr. Sanjay Bhandarkar (DIN: 01260274) as an Independent Director of the Company
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNot independent anymore
    19 for1 against
  • Approval for the re-appointment of Mr. Parag Shah (DIN:00374944) as an Independent Director of the Company
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundNot independent anymore
    20 for1 against
  • Approval for the re-appointment of Ms. Roshni Nadar Malhotra (DIN:02346621) as an Independent Director of the Company
    Against Edelweiss Mutual Fund, HSBC Mutual Fund
    • Edelweiss Mutual FundNot independent anymore
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • Roshni Nadar Malhotra has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
    18 for2 against
5 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 8, as a fund house numbered it
    1 for0 against
  • Accept Financial Statements and Statutory Reports
    1 for0 against

Mutual fund votes, meeting of 29 Jun 2022, 19 fund houses

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

  • Adoption of Financial Statements
    19 for0 against
  • Declaration of Dividend
    18 for0 against
  • Re-appointment of Statutory Auditors of the Company and to fix their remuneration
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance Concern: Non-Audit fee more than 50% of the total Auditors’ remuneration during the past 2 financial years
    17 for1 against
  • To re-appoint Mr. Deepak S. Parekh as Non-Executive Director of the Company
    18 for0 against
3 proposals not matched to one resolution
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against

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

Investor complaints and compliance

Quarter by quarter.

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

  • Received
  • Resolved

Open at the quarter's end

None open at any 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
Yes

The company's own answers in its filing.