Hester Biosciences logo

Hester Biosciences CEO, MD, chairman, board of directors and AGM

NSE: HESTERBIOBSE: 524669Pharmaceuticals & BiotechnologySmall Cap

Last close ₹2,056.60down ₹90.20 (4.20%)BSE ₹2,050.60

Share price at the NSE close on 23 Oct 2026. Previous close ₹2,146.80.

52-week range of traded prices to 23 Oct 2026
₹1,239.30Low, 30 Mar 2026₹2,683.60High, 30 Jul 2026
Market cap
₹1,750 Cr1,322nd largest listed
P/E
12.8
P/E without one-offs
36.5
P/B
4.9
Dividend yield
0.53%
ROE
40.4%
ROE without one-offs
14.2%
ROCE
11.7%
Debt to equity
0.51
Volume, NSE
2,41661.2% delivered

Hester Biosciences board of directors

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

  • ChairpersonBhupendra Vittaldas GandhiRelated to the promoter
  • Managing director and CEORajiv Dinesh Gandhi
  • Company Secretary and Compliance OfficerVinod Mali

9 directors5 independent2 executive2 non-executive

  • Bhupendra Vittaldas Gandhi · ChairpersonNon-executive · joined Apr 2005 · 1 listed board
  • Rajiv Dinesh Gandhi · Managing director and CEOExecutive · joined Apr 1987 · reappointed Apr 2026 · 2 listed boards · 1 as independent · 1 committee seat
  • Sanjiv Dinesh GandhiNon-executive · joined Apr 1987 · 1 listed board
  • Priya GandhiExecutive · joined Oct 2021 · 1 listed board · 2 committee seats
  • Sandhya Maulik Patel · Shareholder DirectorIndependent · joined Apr 2020 · reappointed Apr 2023 · 78 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 2 as chair
  • Ashok Bhhimarao Bhadakal · Shareholder DirectorIndependent · joined Apr 2020 · reappointed Apr 2023 · 78 months as independent · 1 listed board · 1 as independent
  • Ameet Hiranyakumar Desai · Shareholder DirectorIndependent · joined Oct 2021 · reappointed Oct 2021 · 59 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 1 as chair
  • Jatin Trivedi · Shareholder DirectorIndependent · joined Jun 2023 · reappointed Jun 2023 · 39 months as independent · 1 listed board · 1 as independent
  • Anil Jain · Shareholder DirectorIndependent · joined Jun 2023 · reappointed Jun 2023 · 39 months as independent · 2 listed boards · 2 as independent · 1 committee seat, 1 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.

2 directors who left
  • Ravin Kanti Gandhi, left 12 May 2026: Others
  • Nina Rajiv Gandhi, left 12 May 2026: Others

Committees and meetings

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

  • Board

    • 30 Jul 20268 of 9 present5 independent · 75 days in between
    • 15 May 20269 of 9 present5 independent
  • Audit Committee

    Chair Ashok Bhhimarao Bhadakal

    Sandhya Maulik Patel, Priya Gandhi

    • 29 Jul 20263 of 3 present2 independent · 75 days in between
    • 14 May 20263 of 3 present2 independent
  • Nomination and remuneration committee

    Chair Ashok Bhhimarao Bhadakal

    Sandhya Maulik Patel, Sanjiv Dinesh Gandhi

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair Sandhya Maulik Patel

    Rajiv Dinesh Gandhi, Priya Gandhi

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Rajiv Dinesh Gandhi

    Sandhya Maulik Patel, Priya Gandhi

    • 2 Jul 20263 of 3 present1 independent
  • Corporate Social Responsibility Committee

    Chair Rajiv Dinesh Gandhi

    Sanjiv Dinesh Gandhi, Sandhya Maulik Patel

    • 2 Jul 20263 of 3 present1 independent

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Chandulal M. Shah & Co.Peer-review certificate valid to Jun 2026

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.

Hester Biosciences 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.Hester Biosciences dividend history

Postal ballot, 3 Sep 2026

12,260 shareholders on the register on 30 Jul 2026; votes counted by TAPAN SHAH / CS TAPAN SHAH.The company's voting result (opens in a new tab)

  1. Reclassification of persons forming part of the Promoter Group from ‘Promoter’ Shareholder to ‘Public’ Shareholder
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 1.41% · other public 0.06%

    Turnout: all 46.81% · promoters 77.42% · institutions 36.25% · other public 11.06%

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, 21 Jul 2026, 6 resolutions

11,929 shareholders on the register on 14 Jul 2026; present: 19 promoters and 40 others; votes counted by TAPAN SHAH / CS TAPAN SHAH.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2026 and the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.72% · promoters 95.00% · institutions 49.33% · other public 9.82%

  2. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2026 and the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.72% · promoters 95.00% · institutions 49.33% · other public 9.82%

  3. To declare a dividend on equity shares for the financial year ended 31 March 2026
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.72% · promoters 95.00% · institutions 49.33% · other public 9.82%

  4. To re-appoint Mr. Sanjiv Gandhi (DIN: 00024548), who retires by rotation as a Director
    Ordinary
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.00%

    Turnout: all 47.51% · promoters 79.74% · institutions 49.33% · other public 9.82%

  5. To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2027
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.72% · promoters 95.00% · institutions 49.33% · other public 9.82%

  6. Re-appointment of Ms. Priya Gandhi as Executive Director of the Company
    Special
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 75.09% · other public 0.00%

    Turnout: all 55.72% · promoters 95.00% · institutions 49.33% · other public 9.82%

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, 9 Mar 2026, 1 resolution

12,810 shareholders on the register on 30 Jan 2026; votes counted by Tapan Shah / CS Tapan Shah.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Rajiv Gandhi as CEO & Managing Director of the Company
    Special
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 99.24% · other public 0.02%

    Turnout: all 47.90% · promoters 75.50% · institutions 52.26% · other public 15.52%

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, 13 Aug 2025, 6 resolutions

12,475 shareholders on the register on 6 Aug 2025; present: 17 promoters and 37 others; votes counted by TAPAN SHAH / CS TAPAN SHAH.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2025 and the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.46% · promoters 95.00% · institutions 42.52% · other public 15.72%

  2. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2025 and the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.46% · promoters 95.00% · institutions 42.52% · other public 15.72%

  3. To declare a dividend on equity shares for the financial year ended 31 March 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.46% · promoters 95.00% · institutions 42.52% · other public 15.72%

  4. To re-appoint Dr. Bhupendra Gandhi (DIN: 00437907), who retires by rotation as a Director
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.80% · other public 0.04%

    Turnout: all 58.46% · promoters 95.00% · institutions 42.52% · other public 15.72%

  5. Appointment of Secretarial Auditor of the Company
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.80% · other public 0.04%

    Turnout: all 58.46% · promoters 95.00% · institutions 42.52% · other public 15.72%

  6. To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2026
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 58.46% · promoters 95.00% · institutions 42.52% · other public 15.72%

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.

Postal ballot, 13 Feb 2025, 1 resolution

11,727 shareholders on the register on 10 Jan 2025; votes counted by Tapan Shah / CS Tapan Shah.The company's voting result (opens in a new tab)

  1. Shifting of Registered Office of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 54.77% · promoters 95.00% · institutions 37.84% · other public 7.65%

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.

Annual general meeting, 29 Aug 2024, 6 resolutions

Present: 15 promoters and 39 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2024 and the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.27% · promoters 99.41% · institutions 39.49% · other public 18.86%

  2. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2024 and the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.27% · promoters 99.41% · institutions 39.49% · other public 18.86%

  3. To declare a dividend on equity shares for the financial year ended 31 March 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.27% · promoters 99.41% · institutions 39.49% · other public 18.86%

  4. To re-appoint Mr. Ravin Gandhi (DIN: 00438361), who retires by rotation as a Director
    Ordinary
    99.58% for0.42% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.00%

    Turnout: all 57.53% · promoters 90.59% · institutions 39.49% · other public 18.86%

  5. To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.27% · promoters 99.41% · institutions 39.49% · other public 18.86%

  6. Revision in remuneration of Ms. Priya Gandhi (DIN: 06998979) Executive Director (Whole-time) of the Company
    Special
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 99.75% · other public 0.02%

    Turnout: all 62.27% · promoters 99.41% · institutions 39.49% · other public 18.86%

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

Annual general meeting, 20 Sep 2023, 8 resolutions

Present: 12 promoters and 38 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2023 and the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

  2. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2023 and the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

  3. To declare a dividend on equity shares for the financial year ended 31 March 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

  4. To re-appoint Mr. Sanjiv Gandhi (DIN: 00024548), who retires by rotation as a Director
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 49.59% · promoters 84.14% · institutions 60.55% · other public 8.99%

  5. Re-appointment of the Statutory Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

  6. To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

  7. Appointment of Mr. Anil Jain (DIN: 00805735) as an Independent Director
    Special
    99.99% for0.01% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

  8. Appointment of Mr. Jatin Trivedi (DIN: 01618245) as an Independent Director
    Special
    99.99% for0.01% against

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

    Turnout: all 57.79% · promoters 99.41% · institutions 60.55% · other public 8.99%

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, 30 Apr 2023, 3 resolutions

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

  1. Re-appointment of Ms. Sandhya Patel (DIN: 02215022) as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 57.85% · promoters 99.41% · institutions 57.50% · other public 9.12%

  2. Re-appointment of Mr. Ashok Bhadakal (DIN: 00981201) as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 57.85% · promoters 99.41% · institutions 57.50% · other public 9.12%

  3. Re-appointment of Mr. Rajiv Gandhi as CEO and Managing Director
    Special
    99.45% for0.55% against

    Against: promoters 0.00% · institutions 99.83% · other public 0.03%

    Turnout: all 47.39% · promoters 79.93% · institutions 57.50% · other public 9.12%

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.

How mutual funds voted

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

Mutual fund votes, meeting of 9 Mar 2026, 2 fund houses

  • Re-appointment of Mr. Rajiv Gandhi as CEO & Managing Director of the Company
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern has been identified regarding the profile, time commitment & attendance of the proposed Appointee. Governance concern: The remuneration proposed to be paid to Mr. Rajiv Gandhi comprises both fixed and variable components. The Company has disclosed a variable component of 5% commission on the net profits of the Company or such other quantum of the net profits. However, no absolute cap has been specified on the variable pay or on the overall remuneration. Absolute cap on variable / overall pay is pertinent in this case given the impacted performance of the Company in the recent past and past remuneration payments being on the higher side.
    0 for2 against

Mutual fund votes, meeting of 13 Aug 2025, 2 fund houses

  • To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2025 and the reports of the Board of Directors and Auditors thereon
    2 for0 against
  • To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2025 and the reports of the Auditors thereon
    2 for0 against
  • To declare a dividend on equity shares for the financial year ended 31 March 2025
    2 for0 against
  • To re-appoint Dr. Bhupendra Gandhi (DIN: 00437907), who retires by rotation as a Director
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundNon-compliance with Regulation 17(1A) of SEBI LODR Regulations: The Company has proposed appointment through Ordinary Resolution instead of Special Resolution. Governance Concern: Chairperson related to Managing Director.
    0 for2 against
  • Appointment of Secretarial Auditor of the Company
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundNo concern on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed fee payable to Secretarial Auditors not disclosed. Transparency concern: Previous auditors’ remuneration not available to ascertained as to whether there is any material change in the proposed Audit fee.
    0 for2 against
  • To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2026
    2 for0 against
4 earlier meetings

Mutual fund votes, meeting of 13 Feb 2025, 2 fund houses

  • Shifting of Registered Office of the Company
    2 for0 against

Mutual fund votes, meeting of 29 Aug 2024, 1 fund house

  • To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2024 and the reports of the Board of Directors and Auditors thereon
    1 for0 against
  • To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2024 and the reports of the Auditors thereon
    1 for0 against
  • To declare a dividend on equity shares for the financial year ended 31 March 2024
    1 for0 against
  • To re-appoint Mr. Ravin Gandhi (DIN: 00438361), who retires by rotation as a Director
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Low attendance & Alternate director attended all Board meetings held during FY2023-24.
    0 for1 against
  • To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2025
    1 for0 against
  • Revision in remuneration of Ms. Priya Gandhi (DIN: 06998979) Executive Director (Whole-time) of the Company
    1 for0 against

Mutual fund votes, meeting of 20 Sep 2023, 1 fund house

  • To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended on 31 March 2023 and the reports of the Board of Directors and Auditors thereon
    1 for0 against
  • To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended on 31 March 2023 and the reports of the Auditors thereon
    1 for0 against
  • To declare a dividend on equity shares for the financial year ended 31 March 2023
    1 for0 against
  • To re-appoint Mr. Sanjiv Gandhi (DIN: 00024548), who retires by rotation as a Director
    1 for0 against
  • Re-appointment of the Statutory Auditors
    1 for0 against
  • To ratify the remuneration of Cost Auditors for the financial year ending 31 March 2024
    1 for0 against
  • Appointment of Mr. Anil Jain (DIN: 00805735) as an Independent Director
    1 for0 against
  • Appointment of Mr. Jatin Trivedi (DIN: 01618245) as an Independent Director
    1 for0 against

Mutual fund votes, meeting of 30 Apr 2023, 1 fund house

  • Re-appointment of Ms. Sandhya Patel (DIN: 02215022) as an Independent Director
    1 for0 against
  • Re-appointment of Mr. Ashok Bhadakal (DIN: 00981201) as an Independent Director
    1 for0 against
  • Re-appointment of Mr. Rajiv Gandhi as CEO and Managing Director
    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

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
Yes
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.