HeidelbergCement India logo

HeidelbergCement India MD, chairman, board of directors and AGM

NSE: HEIDELBERGBSE: 500292Cement & Cement ProductsSmall Cap

Formerly Mysore Cements
Last close ₹118.40down ₹4.58 (3.72%)BSE ₹118.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹122.98.

52-week range of traded prices to 23 Oct 2026
₹115.55Low, 23 Oct 2026₹206.70High, 29 Oct 2025
Market cap
₹2,683 Cr909th largest listed
P/E
23.1
P/B
2.0
Dividend yield
5.91%
ROE
8.4%
ROCE
11.2%
Debt to equity
0.00
Volume, NSE
2,11,23452.4% delivered

HeidelbergCement India board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.

  • ChairpersonJyoti Narang
  • Managing directorJoydeep Mukherjee
  • Company Secretary and Compliance OfficerRavi Arora

6 directors2 independent2 executive2 non-executive

  • Jyoti Narang · ChairpersonIndependent · joined Aug 2021 · reappointed Aug 2026 · 61 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 1 as chair
  • Atul Khosla · Shareholder DirectorIndependent · joined Nov 2023 · reappointed Nov 2023 · 34 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Roberto CallieriNon-executive · joined Mar 2024 · 1 listed board
  • Joydeep Mukherjee · Managing directorExecutive · joined Apr 2023 · reappointed Apr 2026 · 1 listed board · 1 committee seat
  • Vimal Kumar JainExecutive · joined Jun 2022 · reappointed Jun 2025 · 1 listed board
  • Vimal Kumar ChoudharyNon-executive · joined May 2025 · 1 listed board · 1 committee seat

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

1 director who left
  • Soek Peng Sim, left 28 May 2025: Others

Committees and meetings

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

  • Board

    • 29 Jul 20266 of 6 present2 independent · 64 days in between
    • 25 May 20266 of 6 present2 independent

  • Audit Committee

    Chair Atul Khosla

    Jyoti Narang, Vimal Kumar Choudhary

    • 29 Jul 20263 of 3 present2 independent · 64 days in between
    • 25 May 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Atul Khosla

    Jyoti Narang, Roberto Callieri

    • 29 Jul 20263 of 3 present2 independent · 64 days in between
    • 25 May 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Jyoti Narang

    Atul Khosla, Joydeep Mukherjee

    • 29 Jul 20263 of 3 present2 independent · 64 days in between
    • 25 May 20263 of 3 present2 independent

  • Risk Management Committee

    Chair Joydeep Mukherjee

    Jyoti Narang, Atul Khosla, Anil Kumar Sharma

    • 29 Jul 20263 of 3 present2 independent

  • Corporate Social Responsibility Committee

    Chair Jyoti Narang

    Atul Khosla, Joydeep Mukherjee, Vimal Kumar Jain

    No meeting listed in the filing.

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.

  • S. N. Dhawan & CO LLPPeer-review certificate valid to Feb 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.

HeidelbergCement India 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.HeidelbergCement India dividend history

Annual general meeting, 24 Sep 2026

82,698 shareholders on the register on 17 Sep 2026; present: 0 promoters and 87 others; votes counted by MONIKA KOHLI / DMK ASSOCIATES COMPANY SECRETARIES.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2026
    Ordinary
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.00% · other public 28.87%

    Turnout: all 83.63% · promoters 100.00% · institutions 96.94% · other public 1.77%

  2. Declaration of dividend of INR 7 per equity share of the face value of INR 10 each for the financial year 2025-2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 83.65% · promoters 100.00% · institutions 97.05% · other public 1.77%

  3. To appoint a Director in place of Mr. Vimal Kumar Choudhary, who retires by rotation and being eligible has offered himself for re-appointment.
    Ordinary
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.17% · other public 29.11%

    Turnout: all 83.65% · promoters 100.00% · institutions 97.05% · other public 1.77%

  4. To re-appoint Ms. Jyoti Narang (holding DIN: 00351187) as an Independent Director of the Company for a second term of five (5) consecutive years.
    Special
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.17% · other public 29.11%

    Turnout: all 83.65% · promoters 100.00% · institutions 97.05% · other public 1.77%

  5. Ratification of the remuneration payable to M/s. R.J. Goel & Co., Cost Accountants as Cost Auditors of the Company for the financial year 2026-2027.
    Ordinary
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.00% · other public 29.06%

    Turnout: all 83.65% · promoters 100.00% · institutions 97.05% · other public 1.77%

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, 24 Sep 2025, 6 resolutions

83,090 shareholders on the register on 17 Sep 2025; present: 0 promoters and 122 others; votes counted by DEEPAK KUKREJA / DMK ASSOCIATES COMPANY SECRETARIES.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2025
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.75%

    Turnout: all 85.49% · promoters 100.00% · institutions 96.37% · other public 8.05%

  2. Declaration of dividend of INR 7 per equity share of the face value of INR 10 each for the financial year 2024-2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.51% · promoters 100.00% · institutions 96.47% · other public 8.05%

  3. To appoint a Director in place of Mr. Roberto Callieri (DIN:05139888), who retires by rotation and being eligible has offered himself for reappointment.
    Ordinary
    98.95% for1.05% against

    Against: promoters 0.00% · institutions 5.63% · other public 4.81%

    Turnout: all 85.51% · promoters 100.00% · institutions 96.47% · other public 8.05%

  4. To re-appoint Mr. Joydeep Mukherjee as Managing Director of the Company for a further term of three years.
    Ordinary
    96.08% for3.92% against

    Against: promoters 0.00% · institutions 27.86% · other public 4.80%

    Turnout: all 81.94% · promoters 100.00% · institutions 73.34% · other public 8.05%

  5. To appoint M/s. DMK Associates, Companies Secretaries as Secretarial Auditors of the Company for a term of five years and fix their remuneration.
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.72% · other public 4.76%

    Turnout: all 85.51% · promoters 100.00% · institutions 96.47% · other public 8.05%

  6. Ratification of the remuneration payable to M/s. R.J. Goel & Co., Cost Accountants as Cost Auditors of the Company for the financial year 2025-2026.
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.80%

    Turnout: all 85.51% · promoters 100.00% · institutions 96.47% · other public 8.05%

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 Jul 2025, 2 resolutions

84,027 shareholders on the register on 30 May 2025; votes counted by DEEPAK KUKREJA / DMK ASSOCIATES COMPANY SECRETARIES.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Vimal Kumar Choudhary (DIN: 02370072) as a Non-Executive & Non-Independent Director of the Company.
    Ordinary
    99.59% for0.41% against

    Against: promoters 0.00% · institutions 1.14% · other public 5.07%

    Turnout: all 87.88% · promoters 100.00% · institutions 95.11% · other public 24.90%

  2. Re-appointment and Remuneration of Mr. Vimal Kumar Jain (holding DIN: 09561918) as Whole Time Director of the Company.
    Special
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 0.16% · other public 5.10%

    Turnout: all 87.89% · promoters 100.00% · institutions 95.11% · other public 24.90%

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: 0 promoters and 133 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2024
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 43.70%

    Turnout: all 83.50% · promoters 100.00% · institutions 94.94% · other public 0.71%

  2. Declaration of dividend of INR 8 per equity share of the face value of INR 10 each for the financial year 2023-2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.30%

    Turnout: all 83.53% · promoters 100.00% · institutions 95.13% · other public 0.71%

  3. Reappointment of Mr. Vimal Kumar Jain (DIN 09561918), as a Director.
    Ordinary
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 0.54% · other public 38.48%

    Turnout: all 83.53% · promoters 100.00% · institutions 95.13% · other public 0.71%

  4. Ratification of the remuneration payable to M/s. R.J. Goel & Co., Cost Accountants as Cost Auditors of the Company for the financial year 2024-2025.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 38.55%

    Turnout: all 83.53% · promoters 100.00% · institutions 95.13% · other public 0.71%

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, 26 Apr 2024, 1 resolution

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

  1. Appointment of Mr. Roberto Callieri (holding DIN 05139888) as a Non-Executive Director of the Company, liable to retire by rotation.
    Ordinary
    97.97% for2.03% against

    Against: promoters 0.00% · institutions 11.64% · other public 1.78%

    Turnout: all 84.33% · promoters 100.00% · institutions 94.54% · other public 1.75%

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, 12 Jan 2024, 1 resolution

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

  1. Appointment of Mr. Atul Khosla ((holding DIN 06476856) as an Independent Director of the Company.
    Special
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 1.27% · other public 0.23%

    Turnout: all 85.19% · promoters 100.00% · institutions 89.87% · other public 15.01%

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, 27 Sep 2023, 4 resolutions

Present: 0 promoters and 138 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2023.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 16.33%

    Turnout: all 81.86% · promoters 100.00% · institutions 89.32% · other public 0.50%

  2. Declaration of Dividend of Rs. 7/- per equity share for FY2022-23.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.90% · promoters 100.00% · institutions 89.56% · other public 0.50%

  3. Reappointment of Ms. Soek Peng Sim, (holding DIN 06958955), as a Director.
    Ordinary
    97.27% for2.73% against

    Against: promoters 0.00% · institutions 17.85% · other public 17.71%

    Turnout: all 81.90% · promoters 100.00% · institutions 89.56% · other public 0.50%

  4. Ratification of remuneration of Cost Auditors, M/s. R.J. Goel & Co., for the financial year 2023-24.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 16.86%

    Turnout: all 81.90% · promoters 100.00% · institutions 89.56% · other public 0.50%

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 2023, 2 resolutions

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

  1. Appointment of Mr. Joydeep Mukherjee (holding DIN 06648469) as a Director of the Company.
    Ordinary
    99.28% for0.72% against

    Against: promoters 0.00% · institutions 4.19% · other public 0.18%

    Turnout: all 85.22% · promoters 100.00% · institutions 90.51% · other public 9.18%

  2. Appointment of Mr. Joydeep Mukherjee (holding DIN 06648469) as Managing Director of the Company.
    Ordinary
    92.02% for7.98% against

    Against: promoters 0.00% · institutions 59.62% · other public 0.21%

    Turnout: all 81.65% · promoters 100.00% · institutions 68.20% · other public 9.18%

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

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 24 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2026
    2 for0 against
  • Declaration of dividend of INR 7 per equity share of the face value of INR 10 each for the financial year 2025-2026.
    2 for0 against
  • To appoint a Director in place of Mr. Vimal Kumar Choudhary, who retires by rotation and being eligible has offered himself for re-appointment.
    2 for0 against
  • To re-appoint Ms. Jyoti Narang (holding DIN: 00351187) as an Independent Director of the Company for a second term of five (5) consecutive years.
    2 for0 against
  • Ratification of the remuneration payable to M/s. R.J. Goel & Co., Cost Accountants as Cost Auditors of the Company for the financial year 2026-2027.
    2 for0 against

Mutual fund votes, meeting of 24 Sep 2025, 9 fund houses

  • Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2025
    9 for0 against
  • Declaration of dividend of INR 7 per equity share of the face value of INR 10 each for the financial year 2024-2025.
    9 for0 against
  • To appoint a Director in place of Mr. Roberto Callieri (DIN:05139888), who retires by rotation and being eligible has offered himself for reappointment.
    9 for0 against
  • To re-appoint Mr. Joydeep Mukherjee as Managing Director of the Company for a further term of three years.
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundHolds two full time positions in the fellow subsidiary company
    • Axis Mutual FundJoydeep Mukherjee, 58, is the Managing Director of HeidelbergCement India Limited. Joydeep Mukherjee will not receive any remuneration from HeidelbergCement India Limited. We note that he is also the Managing Director of Zuari Cement Limited, a HeidelbergCement AG group company, from where he will continue to receive remuneration. The company has not made any disclosures regarding Joydeep Mukherjee’s remuneration from Zuari Cement Limited: in absence of the level of his remuneration, it is unclear if Joydeep Mukherjee’s remuneration is aligned to shareholder interest. We believe that director’s remuneration must be linked to the performance of the company where he is employed in an executive capacity. There must be adequate disclosures on the quantum of remuneration that was paid to him in the past by Zuari Cement Limited and terms of remuneration. Further, we do not support professionals holding two full-time positions in group companies. We do not support the resolution.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Holds two full time positions in the fellow subsidiary company.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    3 for6 against
  • To appoint M/s. DMK Associates, Companies Secretaries as Secretarial Auditors of the Company for a term of five years and fix their remuneration.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundTransparency Concern: Remuneration of outgoing auditor not disclosed; thus, material change, if any, with proposed audit fee cannot be ascertained.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: Remuneration of outgoing auditor not disclosed; thus, material change, if any, with proposed audit fee cannot be ascertained.
    5 for4 against
  • Ratification of the remuneration payable to M/s. R.J. Goel & Co., Cost Accountants as Cost Auditors of the Company for the financial year 2025-2026.
    9 for0 against
6 earlier meetings

Mutual fund votes, meeting of 6 Jul 2025, 9 fund houses

  • Appointment of Mr. Vimal Kumar Choudhary (DIN: 02370072) as a Non-Executive & Non-Independent Director of the Company.
    9 for0 against
  • Re-appointment and Remuneration of Mr. Vimal Kumar Jain (holding DIN: 09561918) as Whole Time Director of the Company.
    9 for0 against

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

  • Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2024
    7 for0 against
  • Declaration of dividend of INR 8 per equity share of the face value of INR 10 each for the financial year 2023-2024.
    7 for0 against
  • Reappointment of Mr. Vimal Kumar Jain (DIN 09561918), as a Director.
    7 for0 against
  • Ratification of the remuneration payable to M/s. R.J. Goel & Co., Cost Accountants as Cost Auditors of the Company for the financial year 2024-2025.
    7 for0 against

Mutual fund votes, meeting of 26 Apr 2024, 7 fund houses

  • Appointment of Mr. Roberto Callieri (holding DIN 05139888) as a Non-Executive Director of the Company, liable to retire by rotation.
    7 for0 against

Mutual fund votes, meeting of 12 Jan 2024, 8 fund houses

  • Appointment of Mr. Atul Khosla ((holding DIN 06476856) as an Independent Director of the Company.
    8 for0 against

Mutual fund votes, meeting of 27 Sep 2023, 7 fund houses

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

  • Adoption of the Audited Financial Statements together with the Reports of the Board of Directors and Auditors’ and other requisite documents for the financial year ended 31st March 2023.
    5 for0 against
  • Declaration of Dividend of Rs. 7/- per equity share for FY2022-23.
    6 for0 against
  • Reappointment of Ms. Soek Peng Sim, (holding DIN 06958955), as a Director.
    6 for0 against
  • Ratification of remuneration of Cost Auditors, M/s. R.J. Goel & Co., for the financial year 2023-24.
    6 for0 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 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Accept Financial Statements and Statutory Reports
    1 for0 against

Mutual fund votes, meeting of 27 Apr 2023, 5 fund houses

  • Appointment of Mr. Joydeep Mukherjee (holding DIN 06648469) as a Director of the Company.
    5 for0 against
  • Appointment of Mr. Joydeep Mukherjee (holding DIN 06648469) as Managing Director of the Company.
    Against Axis Mutual Fund, Franklin Templeton Mutual Fund
    • Axis Mutual FundJoydeep Mukherjee will not receive any remuneration from HeidelbergCement India Limited. We note that he is also the Managing Director of Zuari Cement Limited, a HeidelbergCement AG group company. He will continue to receive remuneration from Zuari Cement Limited. The company has not made any disclosures regarding Joydeep Mukherjee’s remuneration from Zuari Cement Limited: in absence of the level of his remuneration, it is unclear if Joydeep Mukherjee’s remuneration is aligned to shareholder interest. We believe that director’s remuneration must be linked to the performance of the company where he is employed in an executive capacity. Further, there must be adequate disclosures on the quantum of remuneration that was paid to him in the past by Zuari Cement Limited and terms of remuneration.
    • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted in view of the following concerns in the executive's remuneration: • He is Managing Director of two companies. This may impair his ability to devote adequate time to the affairs of each company. • The remuneration which Joydeep Mukherjee will draw from the subsidiary is not disclosed, which may lead to discretionary payment.
    3 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

At most 1 complaint open, quarter to Jun 2026.
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.