Indo Count Industries logo

Indo Count Industries MD, chairman, board of directors and AGM

NSE: ICILBSE: 521016Textiles & ApparelsSmall Cap

Last close ₹394.15down ₹11.60 (2.86%)BSE ₹394.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹405.75.

52-week range of traded prices to 23 Oct 2026
₹216.90Low, 23 Mar 2026₹485.95High, 23 Sep 2026
Market cap
₹7,806 Cr742nd largest listed
P/E
51.7
P/B
3.3
Dividend yield
0.38%
ROE
6.5%
ROCE
7.5%
Debt to equity
0.46
Volume, NSE
2,90,75637.7% delivered

Indo Count Industries 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

  • ChairpersonAnil Kumar JainRelated to the promoter
  • Company Secretary and Compliance OfficerSatnam Saini

8 directors5 independent3 executive

  • Anil Kumar Jain · ChairpersonExecutive · joined Aug 1990 · reappointed Oct 2025 · 2 listed boards · 2 committee seats
  • Mohit Anilkumar JainExecutive · joined May 2016 · reappointed Jul 2025 · 1 listed board
  • Kamal Sukhamoy MitraExecutive · joined Oct 2008 · reappointed Oct 2025 · 1 listed board · 2 committee seats
  • Sanjay Kumar PandaIndependent · joined Aug 2018 · reappointed Aug 2023 · 94 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Siddharth Saumil MehtaIndependent · joined Aug 2018 · reappointed Aug 2023 · 94 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Lakshmanan ViswanathanIndependent · joined May 2023 · reappointed May 2025 · 37 months as independent · 3 listed boards · 3 as independent · 5 committee seats, 3 as chair
  • Akash KagliwalIndependent · joined May 2023 · reappointed May 2025 · 37 months as independent · 3 listed boards · 1 as independent · 1 committee seat
  • Ambika SharmaIndependent · joined May 2024 · reappointed May 2026 · 25 months as independent · 6 listed boards · 6 as independent · 9 committee seats, 2 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.

1 director who left
  • Kailash R. Lalpuria, left 13 Feb 2026: Others

Committees and meetings

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

  • Board

    • 30 May 20268 of 8 present5 independent · 105 days in between
    • 13 Feb 20268 of 8 present5 independent

  • Audit Committee

    Chair Lakshmanan Viswanathan

    Siddharth Saumil Mehta, Akash Kagliwal, Ambika Sharma, Kamal Sukhamoy Mitra

    • 30 May 20265 of 5 present4 independent · 1 day in between
    • 28 May 20265 of 5 present4 independent · 103 days in between
    • 13 Feb 20264 of 4 present4 independent
    • 10 Feb 20264 of 5 present4 independent

  • Nomination and remuneration committee

    Chair Siddharth Saumil Mehta

    Ambika Sharma, Anil Kumar Jain, Sanjay Kumar Panda

    • 28 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Sanjay Kumar Panda

    Anil Kumar Jain, Kamal Sukhamoy Mitra

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Siddharth Saumil Mehta

    K. Muralidharan, Manish Bhatia, Kamal Sukhamoy Mitra, Akash Kagliwal

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Sanjay Kumar Panda

    Anil Kumar Jain, Kamal Sukhamoy Mitra, Ambika Sharma

    • 28 May 20264 of 4 present2 independent · 107 days in between
    • 9 Feb 20264 of 5 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.

  • M/s Price Waterhouse Chatered Accountants LLPPeer-review certificate valid to Nov 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.

Indo Count Industries 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.Indo Count Industries dividend history

Annual general meeting, 25 Aug 2026

77,069 shareholders on the register on 18 Aug 2026; present: 12 promoters and 53 others; votes counted by Vikas R Chomal / Vikas R Chomal and Associates.The company's voting result (opens in a new tab)

  1. Adoption of Audited Standalone and Consolidated Financial Statements
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.71% · promoters 99.98% · institutions 78.31% · other public 1.44%

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

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

    Turnout: all 71.73% · promoters 99.98% · institutions 78.43% · other public 1.44%

  3. Re-appointment of Mr. Mohit Jain (DIN: 01473966), who retires by rotation
    OrdinaryPromoters have an interest in it
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.99% · other public 0.29%

    Turnout: all 71.73% · promoters 99.98% · institutions 78.43% · other public 1.44%

  4. Re-appointment of Mrs. Ambika Sharma (DIN: 08201798) as a Non-Executive Independent Director of the Company
    Special
    99.51% for0.49% against

    Against: promoters 0.00% · institutions 2.79% · other public 0.34%

    Turnout: all 71.73% · promoters 99.98% · institutions 78.43% · other public 1.44%

  5. Approval of waiver of recovery of excess managerial remuneration paid/payable to Mr. Anil Kumar Jain, Executive Chairman for the Financial Year 2025-26
    SpecialPromoters have an interest in it
    90.71% for9.29% against

    Against: promoters 0.00% · institutions 52.70% · other public 0.75%

    Turnout: all 71.73% · promoters 99.98% · institutions 78.43% · other public 1.44%

  6. Approval of waiver of recovery of excess managerial remuneration paid/payable to Mr. Mohit Jain, Executive Vice-Chairman for the Financial Year 2025-26
    SpecialPromoters have an interest in it
    91.13% for8.87% against

    Against: promoters 0.00% · institutions 50.33% · other public 0.75%

    Turnout: all 71.73% · promoters 99.98% · institutions 78.43% · other public 1.44%

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, 19 Aug 2025, 9 resolutions

79,114 shareholders on the register on 12 Aug 2025; present: 12 promoters and 48 others; votes counted by Vikas R Chomal / Vikas R Chomal and Associates.The company's voting result (opens in a new tab)

  1. Adoption of Audited Standalone and Consolidated Financial Statements
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.52%

    Turnout: all 71.16% · promoters 99.98% · institutions 83.23% · other public 0.25%

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

    Against: promoters 0.00% · institutions 0.00% · other public 0.52%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  3. Re-appointment of Mr. Kamal Mitra, who retires by rotation
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.15% · other public 1.96%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  4. Re-appointment of Mr. Anil Kumar Jain as a Whole-time Director designated as “Executive Chairman” of the Company
    Special
    91.69% for8.31% against

    Against: promoters 0.00% · institutions 47.76% · other public 1.97%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  5. Re-appointment of Mr. Mohit Jain as a Whole-time Director designated as “Executive Vice Chairman” of the Company
    Special
    94.17% for5.83% against

    Against: promoters 0.00% · institutions 33.54% · other public 1.99%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  6. Re-appointment of Mr. Kamal Mitra as a Whole-time Director of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 1.96%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  7. Re-appointment of Mr. Akash Kagliwal as an Independent Director of the Company
    Special
    99.72% for0.28% against

    Against: promoters 0.00% · institutions 1.63% · other public 1.97%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  8. Re-appointment of Mr. L. Viswanathan as an Independent Director of the Company
    Special
    95.64% for4.36% against

    Against: promoters 0.00% · institutions 25.05% · other public 1.98%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

  9. Appointment of Vikas R. Chomal and Associates, Practicing Company Secretaries as Secretarial Auditors of the Company
    Ordinary
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 1.15% · other public 0.53%

    Turnout: all 71.18% · promoters 99.98% · institutions 83.36% · other public 0.25%

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, 1 Aug 2024, 5 resolutions

Present: 12 promoters and 44 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024, together with the Reports of the Board of Directors and the Auditors thereon and the (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 2.66% · other public 1.08%

    Turnout: all 64.08% · promoters 99.98% · institutions 38.53% · other public 0.18%

  2. To declare Final Dividend of Rs. 2.20/- per Equity Share of face value of Rs.2/- each for the Financial Year ended 31st March, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.39%

    Turnout: all 64.13% · promoters 99.98% · institutions 38.90% · other public 0.18%

  3. To appoint a Director in place of Mr. Mohit Jain (DIN:01473966), who retires by rotation and being eligible, offers himself for the re-appointment.
    Ordinary
    96.31% for3.69% against

    Against: promoters 0.00% · institutions 44.26% · other public 2.25%

    Turnout: all 64.13% · promoters 99.98% · institutions 38.90% · other public 0.18%

  4. Re-appointment of Mr. Kailash R. Lalpuria (DIN: 00059758) as a Whole Time Director designated as “Executive Director & CEO” of the Company for a period of three (3) years w.e.f. 4th May, 2024 to 3rd May, 2027.MoreLess
    Special
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 2.63% · other public 1.17%

    Turnout: all 64.13% · promoters 99.98% · institutions 38.90% · other public 0.18%

  5. Appointment of Mrs. Ambika Sharma (DIN: 08201798) as an Independent Director of the Company for a period of two (2) years, effective from 27th May, 2024 upto 26th May, 2026.
    Special
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 2.15% · other public 2.20%

    Turnout: all 64.13% · promoters 99.98% · institutions 38.90% · other public 0.18%

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.

Annual general meeting, 21 Aug 2023, 7 resolutions

Present: 13 promoters and 59 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 March 31, 2023, together with the Reports of the Board of Directors and the Auditors thereon and 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 0.01%

    Turnout: all 66.38% · promoters 99.98% · institutions 77.36% · other public 0.28%

  2. To declare Final Dividend of Rs.2/- per Equity Share of face value of Rs.2/- each for the Financial Year ended March 31, 2023.
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 28.98%

    Turnout: all 66.43% · promoters 99.98% · institutions 77.93% · other public 0.28%

  3. To appoint a Director in place of Mr. Kailash R. Lalpuria (DIN: 00059758), who retires by rotation and being eligible, offers him self for the re-appointment.
    Ordinary
    98.92% for1.08% against

    Against: promoters 0.00% · institutions 9.44% · other public 1.47%

    Turnout: all 66.43% · promoters 99.98% · institutions 77.93% · other public 0.28%

  4. Appointment of Mr. Akash Kagliwal (DIN: 01691724) as a Non-Executive Independent Director of the Company for a period of 2 (two) years, effective from May 30, 2023 to May 29, 2025 on the terms and conditions as specified in the Resolution.MoreLess
    Special
    99.59% for0.41% against

    Against: promoters 0.00% · institutions 3.56% · other public 1.48%

    Turnout: all 66.43% · promoters 99.98% · institutions 77.93% · other public 0.28%

  5. Appointment of Mr. L. Viswanathan (DIN: 00193056) as a Non Executive Independent Director of the Company for a period of 2 (two) years, effective from May 30, 2023 to May 29, 2025 on the terms and conditions as specified in the Resolution.MoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.47%

    Turnout: all 66.43% · promoters 99.98% · institutions 77.93% · other public 0.28%

  6. Re-appointment of Dr. Sanjay Kumar Panda (DIN: 02586135) as an Independent Director for a second term of 5 (five) consecutive years, effective from August 3, 2023 to August 2, 2028 on the terms and conditions as specified in the Resolution.MoreLess
    Special
    99.09% for0.91% against

    Against: promoters 0.00% · institutions 7.93% · other public 1.52%

    Turnout: all 66.43% · promoters 99.98% · institutions 77.93% · other public 0.28%

  7. Re-appointment of Mr. Siddharth Mehta (DIN: 03072352) as an Independent Director for a second term of 5 (five) consecutive years, effective from August 3, 2023 to August 2, 2028 on the terms and conditions as specified in the Resolution.MoreLess
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 2.86% · other public 1.52%

    Turnout: all 66.43% · promoters 99.98% · institutions 77.93% · other public 0.28%

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 Sep 2022, 7 resolutions

Present: 11 promoters and 69 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 March 31, 2022, together with the Reports of the Board of Directors and the Auditors thereon and the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 68.83% · promoters 99.98% · institutions 73.82% · other public 9.44%

  2. To declare Final Dividend of Rs. 2/- per Equity Share of face value of Rs. 2/- each for the Financial Year ended March 31, 2022.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 68.86% · promoters 99.98% · institutions 74.14% · other public 9.44%

  3. To appoint a Director in place of Mr. Kamal Mitra (DIN:01839261), who retires by rotation and being eligible, offers himself for the re-appointment.
    Ordinary
    98.31% for1.69% against

    Against: promoters 0.00% · institutions 16.76% · other public 0.02%

    Turnout: all 68.86% · promoters 99.98% · institutions 74.14% · other public 9.44%

  4. To appoint M/s. Price Waterhouse Chartered Accountants LLP (Firm Reg. No. 012754N/ N500016), as Statutory Auditors of the Company for a first term of five consecutive years from the conclusion of 33rd AGM till the conclusion of 38th AGM in place of M/s. Suresh Kumar Mittal & Co., retiring auditors and fixation of remuneration.MoreLess
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.26% · other public 0.02%

    Turnout: all 68.86% · promoters 99.98% · institutions 74.14% · other public 9.44%

  5. Re-appointment of Mr. Anil Kumar Jain (DIN:00086106) as a Whole Time Director designated as “Executive Chairman” of the Company for a further period of 3 years w.e.f October 1, 2022.
    SpecialPromoters have an interest in it
    98.05% for1.95% against

    Against: promoters 0.00% · institutions 17.25% · other public 0.04%

    Turnout: all 61.48% · promoters 87.46% · institutions 74.14% · other public 9.44%

  6. Re-appointment of Mr. Mohit Jain (DIN: 01473966) as a Whole Time Director designated as “Executive Vice Chairman” of the Company for a further period of 3 years w.e.f. July 1, 2022.
    SpecialPromoters have an interest in it
    98.08% for1.92% against

    Against: promoters 0.00% · institutions 17.02% · other public 0.05%

    Turnout: all 61.48% · promoters 87.46% · institutions 74.14% · other public 9.44%

  7. Re-appointment of Mr. Kamal Mitra (DIN: 01839261) as a Whole-Time Director Designated as “Director (Works)” for a further period of 3 years w.e.f. October 1, 2022.
    Special
    98.33% for1.67% against

    Against: promoters 0.00% · institutions 16.53% · other public 0.03%

    Turnout: all 68.86% · promoters 99.98% · institutions 74.14% · other public 9.44%

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

Postal ballot, 28 Mar 2022, 3 resolutions

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

  1. Authority to the Board of Directors under Section 180 (1) (c) of the Companies Act, 2013 for borrowings upto the revised limit of Rs. 2500 crores
    Special
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 2.61% · other public 0.13%

    Turnout: all 70.02% · promoters 99.98% · institutions 73.63% · other public 12.82%

  2. Authority to the Board of Directors under section 180 (1) (a) of the Companies Act, 2013 for creation of charge upto the revised limit of Rs. 2500 crores
    Special
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 2.61% · other public 0.12%

    Turnout: all 70.02% · promoters 99.98% · institutions 73.63% · other public 12.82%

  3. To approve remuneration of Mrs. Gayatri Devi Jain, Vice President (Head – Organizational Culture), holding office or place of profit
    OrdinaryPromoters have an interest in it
    88.34% for11.66% against

    Against: promoters 0.00% · institutions 18.17% · other public 0.29%

    Turnout: all 11.09% · promoters 0.00% · institutions 73.63% · other public 12.82%

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.

Meeting called by the tribunal, 15 Nov 2021, 1 resolution

Present: 11 promoters and 54 others.The company's voting result (opens in a new tab)

  1. To approve the Scheme of Amalgamation (by way of merger byAbsorption) of Pranavaditya Spinning Mills Limited (“Transferor Company’’) with Indo Count Industries Limited (“Transferee Company” ) on a going concern basis, as enclosed to the notice of the Hon’ble Tribunal convened meeting of theequity shareholders of the Company.MoreLess
    Special
    100.00% for0.00% against

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

    Turnout: all 76.30% · promoters 99.98% · institutions 94.01% · other public 26.26%

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

Annual general meeting, 3 Sep 2021, 4 resolutions

Present: 13 promoters and 68 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 March 31, 2021, together with the Reports of the Board of Directors and the Auditors thereon and the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2021, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.87% · promoters 99.98% · institutions 13.75% · other public 5.06%

  2. To declare Final Dividend of Rs. 1.5/- per Equity Share of face value of Rs. 2/- each for the Financial Year ended March 31, 2021.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.90% · promoters 99.98% · institutions 14.07% · other public 5.06%

  3. To appoint a Director in place of Mr. Mohit Anilkumar Jain (DIN: 01473966), who retires by rotation and being eligible, offers himself for the re-appointment.
    OrdinaryPromoters have an interest in it
    97.43% for2.57% against

    Against: promoters 0.00% · institutions 96.53% · other public 0.03%

    Turnout: all 52.26% · promoters 83.63% · institutions 14.07% · other public 5.06%

  4. Re-appointment of Mr. Kailash R. Lalpuria (DIN: 00059758) as a Whole Time Director designated as “Executive Director & CEO” of the Company for further period of 3 years with effect from May 4, 2021.
    Ordinary
    97.79% for2.21% against

    Against: promoters 0.00% · institutions 98.26% · other public 0.03%

    Turnout: all 61.89% · promoters 99.98% · institutions 14.07% · other public 5.04%

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 25 Aug 2026, 4 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Adoption of Audited Standalone and Consolidated Financial Statements
    4 for0 against
  • Declaration of Dividend
    4 for0 against
  • Re-appointment of Mr. Mohit Jain (DIN: 01473966), who retires by rotation
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice in favor of Promoter Directors.
    3 for1 against
  • Re-appointment of Mrs. Ambika Sharma (DIN: 08201798) as a Non-Executive Independent Director of the Company
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration in favor of promoter Executive Directors and the proposed director is a member of Nomination & Remuneration Committee.
    3 for1 against
  • Approval of waiver of recovery of excess managerial remuneration paid/payable to Mr. Anil Kumar Jain, Executive Chairman for the Financial Year 2025-26
    Against Angel One Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice in favor of Promoter Directors; Concerns identified with the remuneration package which continue to persist; Creation of two different class Executive Directors- Promoter and Non-Promoter with wide difference in treatment by the Company; Holding combined position of Executive Chairman; Director is Nomination & Remuneration Committee member and Skewed remuneration practice in favor of promoter directors of the Company.
    • HSBC Mutual FundA vote AGAINST the resolutions is warranted because: • The company has not disclosed the performance metrics and (threshold and target) performance that the executives have achieved to determine the outcome under variable pay. • Executive overall remuneration is aggressively positioned when compared to peers with similar size and scale of business operations.
    • ICICI Prudential Mutual FundAnil Kumar Jain, serves as Executive Chairperson. His FY26 remuneration represented 6.6% of standalone PBT and 8.65% of PAT which is high and not commensurate with the company’s overall performance. The aggregate executive remuneration remains elevated at Rs. 232.3 mn, representing 12.2% of standalone PBT and 16.39% of PAT which is above regulatory threshold limits. Hence, the AMC has voted against the resolution
    1 for3 against
  • Approval of waiver of recovery of excess managerial remuneration paid/payable to Mr. Mohit Jain, Executive Vice-Chairman for the Financial Year 2025-26
    Against Angel One Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice in favor of Promoter Directors; Concerns identified with the remuneration package which continue to persist; Creation of two different class Executive Directors- Promoter and Non-Promoter with wide difference in treatment by the Company;
    • HSBC Mutual FundThe company has not disclosed the performance metrics and (threshold and target) performance that the executives have achieved to determine the outcome under variable pay. Executives overall remuneration is aggressively positioned when compared to peers with similar size and scale of business operations.
    • ICICI Prudential Mutual FundMohit Jain, serves as Executive Vice Chairperson. His FY26 remuneration represented 6.2% of standalone PBT and 6.8% of PAT, which is high and not commensurate with the company’s overall performance. The aggregate executive remuneration remains elevated at Rs. 232.3 mn, representing 12.2% of standalone PBT and 16.39% of PAT which is above regulatory threshold limits. Hence, the AMC has voted against the resolution.
    1 for3 against

Mutual fund votes, meeting of 19 Aug 2025, 8 fund houses

  • Adoption of Audited Standalone and Consolidated Financial Statements
    8 for0 against
  • Declaration of Dividend
    8 for0 against
  • Re-appointment of Mr. Kamal Mitra, who retires by rotation
    8 for0 against
  • Re-appointment of Mr. Anil Kumar Jain as a Whole-time Director designated as “Executive Chairman” of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, UTI Mutual Fund
    • Angel One Mutual FundGovernance concern: Holding combined position of Executive Chairman. Proposed appointee is Nomination & Remuneration Committee member and Skewed remuneration practice in favor of promoter directors of the Company. No absolute cap on variable pay and board discretion to determine variable pay. Two different class of Executive Directors- Promoter and Non-Promoter with wide difference in treatment by the Company.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits on Proposed Appointee. Governance concern: Holding combined position of Executive Chairman. Proposed appointee is NRC member and Skewed remuneration practice in favor of promoter directors of the Company. No absolute cap on variable pay and board discretion to determine variable pay. Two different class of EDs- Promoter and Non-Promoter with wide difference in treatment by the Company.
    • HSBC Mutual FundA vote AGAINST the resolution is warranted because:• There is no percentage or monetary cap on the commission element, which makes the proposed remuneration structure open ended and may lead to discretionary payouts.• The company has not disclosed the performance metrics and (threshold and target) performance that theexecutives need to achieve to determine the outcome under variable pay.• The FY2025 pay of the executives compared to the median remuneration is deemed high compared to companies of similar size and scale.• The estimated remuneration of the executives is competitively positioned relative to companies operating in similar line of business.• The executives will be paid the proposed remuneration as minimum remuneration even in the event of loss or inadequate profits of the company.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • UTI Mutual FundAnil Kumar Jain received Rs. 145.8 mn as remuneration in FY25. We estimate the FY26 remuneration at Rs. 147.4 mn, which is not commensurate with the the size and complexity of the business and also not in line with peers. While we support his reappointment on the board, we do not support the remuneration terms. We do not support the resolution.
    1 for7 against
  • Re-appointment of Mr. Mohit Jain as a Whole-time Director designated as “Executive Vice Chairman” of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice in favor of promoter directors of the Company. No absolute cap on variable pay and board discretion to determine variable pay. Two different class of Executive Directors- Promoter and Non-Promoter with wide difference in treatment by the Company.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits on Proposed Appointee. Governance concern: Skewed remuneration practice in favor of promoter directors of the Company. No absolute cap on variable pay and board discretion to determine variable pay. Two different class of EDs- Promoter and Non-Promoter with wide difference in treatment by the Company.
    • HSBC Mutual FundA vote AGAINST the resolution is warranted because:• There is no percentage or monetary cap on the commission element, which makes the proposed remuneration structure open ended and may lead to discretionary payouts.• The company has not disclosed the performance metrics and (threshold and target) performance that theexecutives need to achieve to determine the outcome under variable pay.• The FY2025 pay of the executives compared to the median remuneration is deemed high compared to companies of similar size and scale.• The estimated remuneration of the executives is competitively positioned relative to companies operating in similar line of business.• The executives will be paid the proposed remuneration as minimum remuneration even in the event of loss or inadequate profits of the company.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    2 for6 against
  • Re-appointment of Mr. Kamal Mitra as a Whole-time Director of the Company
    8 for0 against
  • Re-appointment of Mr. Akash Kagliwal as an Independent Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundPrior approval of shareholders not obtained for re-appointment as an Independent Director.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, prior approval of shareholders not obtained for re-appointment as an ID.
    4 for4 against
  • Re-appointment of Mr. L. Viswanathan as an Independent Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundPrior approval of shareholders not obtained for re-appointment as an Independent Director.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, prior approval of shareholders not obtained for re-appointment as an ID.
    • HSBC Mutual FundA vote FOR the nominee is warranted given the absence of any known issues concerning the nominee and the company's board.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    2 for6 against
  • Appointment of Vikas R. Chomal and Associates, Practicing Company Secretaries as Secretarial Auditors of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundTransparency concern: The Company has not disclosed the audit fee paid to outgoing Secretarial Auditor to ascertain any material change in the proposed audit fee.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Transparency concern: The Company has not disclosed the Audit Fee paid to Outgoing Secretarial Auditor to ascertain any material change in the proposed audit fee.
    4 for4 against
6 earlier meetings

Mutual fund votes, meeting of 1 Aug 2024, 4 fund houses

  • To receive, consider and adopt the (a) Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024, together with the Reports of the Board of Directors and the Auditors thereon and the (b) Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024, together with the Report of the Auditors thereon.MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified Financial Statements. No major governance concern identified except few non-material observations in the CARO Report of the Company. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed financials of subsidiaries for FY 2023-24 on its website.
    1 for3 against
  • To declare Final Dividend of Rs. 2.20/- per Equity Share of face value of Rs.2/- each for the Financial Year ended 31st March, 2024.
    4 for0 against
  • To appoint a Director in place of Mr. Mohit Jain (DIN:01473966), who retires by rotation and being eligible, offers himself for the re-appointment.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundComplaint with law. No merit on Proposed Appointee. Governance concern: Skewed Remuneration towards Promoters.
    1 for3 against
  • Re-appointment of Mr. Kailash R. Lalpuria (DIN: 00059758) as a Whole Time Director designated as “Executive Director & CEO” of the Company for a period of three (3) years w.e.f. 4th May, 2024 to 3rd May, 2027.MoreLess
    4 for0 against
  • Appointment of Mrs. Ambika Sharma (DIN: 08201798) as an Independent Director of the Company for a period of two (2) years, effective from 27th May, 2024 upto 26th May, 2026.
    4 for0 against

Mutual fund votes, meeting of 21 Aug 2023, 1 fund house

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023, together with the Reports of the Board of Directors and the Auditors thereon and 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
    1 for0 against
  • To declare Final Dividend of Rs.2/- per Equity Share of face value of Rs.2/- each for the Financial Year ended March 31, 2023.
    1 for0 against
  • To appoint a Director in place of Mr. Kailash R. Lalpuria (DIN: 00059758), who retires by rotation and being eligible, offers him self for the re-appointment.
    1 for0 against
  • Appointment of Mr. Akash Kagliwal (DIN: 01691724) as a Non-Executive Independent Director of the Company for a period of 2 (two) years, effective from May 30, 2023 to May 29, 2025 on the terms and conditions as specified in the Resolution.MoreLess
    1 for0 against
  • Appointment of Mr. L. Viswanathan (DIN: 00193056) as a Non Executive Independent Director of the Company for a period of 2 (two) years, effective from May 30, 2023 to May 29, 2025 on the terms and conditions as specified in the Resolution.MoreLess
    1 for0 against
  • Re-appointment of Dr. Sanjay Kumar Panda (DIN: 02586135) as an Independent Director for a second term of 5 (five) consecutive years, effective from August 3, 2023 to August 2, 2028 on the terms and conditions as specified in the Resolution.MoreLess
    1 for0 against
  • Re-appointment of Mr. Siddharth Mehta (DIN: 03072352) as an Independent Director for a second term of 5 (five) consecutive years, effective from August 3, 2023 to August 2, 2028 on the terms and conditions as specified in the Resolution.MoreLess
    1 for0 against

Mutual fund votes, meeting of 29 Sep 2022, 3 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022, together with the Reports of the Board of Directors and the Auditors thereon and the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Report of the Auditors thereon.MoreLess
    3 for0 against
  • To declare Final Dividend of Rs. 2/- per Equity Share of face value of Rs. 2/- each for the Financial Year ended March 31, 2022.
    3 for0 against
  • To appoint a Director in place of Mr. Kamal Mitra (DIN:01839261), who retires by rotation and being eligible, offers himself for the re-appointment.
    3 for0 against
  • To appoint M/s. Price Waterhouse Chartered Accountants LLP (Firm Reg. No. 012754N/ N500016), as Statutory Auditors of the Company for a first term of five consecutive years from the conclusion of 33rd AGM till the conclusion of 38th AGM in place of M/s. Suresh Kumar Mittal & Co., retiring auditors and fixation of remuneration.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    2 for1 against
  • Re-appointment of Mr. Anil Kumar Jain (DIN:00086106) as a Whole Time Director designated as “Executive Chairman” of the Company for a further period of 3 years w.e.f October 1, 2022.
    Against ICICI Prudential Mutual Fund, Nippon India Mutual Fund
    • ICICI Prudential Mutual FundMr. Anil Jain is the Executive Chairperson of the company and his remuneration also consists of commission on profits. While the fixed pay for FY2023 can be estimated, his overall pay structure is open-ended with no cap and gives the board discretionary powers in deciding his variable pay components. As a result, there is little clarity for shareholders on the final remuneration. Also, overall promoter remuneration is 6.9% of consolidated profits FY2022 which is very high. Further, his annual remuneration of FY2022 is also higher than that paid to industry peers. Hence, the AMC has voted against the resolution.
    • Nippon India Mutual FundSkewed Remuneration
    1 for2 against
  • Re-appointment of Mr. Mohit Jain (DIN: 01473966) as a Whole Time Director designated as “Executive Vice Chairman” of the Company for a further period of 3 years w.e.f. July 1, 2022.
    Against ICICI Prudential Mutual Fund, Nippon India Mutual Fund
    • ICICI Prudential Mutual FundMr. Mohit Jain is the Executive Chairperson of the company and his remuneration also consists of commission on profits. While the fixed pay for FY2023 can be estimated, his overall pay structure is open-ended with no cap and gives the board discretionary powers in deciding his variable pay components. As a result, there is little clarity for shareholders on the final remuneration. Also, overall promoter remuneration is 6.9% of consolidated profits for FY2022 which is very high. Further, his annual remuneration of FY2022 is also higher than that paid to industry peers. Also,the appointment of Hence the AMC has voted against the resolution.
    • Nippon India Mutual FundSkewed Remuneration
    1 for2 against
  • Re-appointment of Mr. Kamal Mitra (DIN: 01839261) as a Whole-Time Director Designated as “Director (Works)” for a further period of 3 years w.e.f. October 1, 2022.
    3 for0 against

Mutual fund votes, meeting of 28 Mar 2022, 3 fund houses

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

  • Authority to the Board of Directors under Section 180 (1) (c) of the Companies Act, 2013 for borrowings upto the revised limit of Rs. 2500 crores
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundExisting borrowing limit is sufficient
    1 for1 against
  • Authority to the Board of Directors under section 180 (1) (a) of the Companies Act, 2013 for creation of charge upto the revised limit of Rs. 2500 crores
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundExisting borrowing limit is sufficient
    1 for1 against
  • To approve remuneration of Mrs. Gayatri Devi Jain, Vice President (Head – Organizational Culture), holding office or place of profit
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInsufficient information
    2 for1 against
2 proposals not matched to one resolution
  • To authorise the Board of Directors for borrowing from time to time, by way of loans, credit facilities, debt instruments or in any other forms, any such sum or sums of money (either Indian or foreign currency) from Banks, Financial Institutions, Bodies Corporate, Companies, firms or any one or more persons on such terms and conditions and with or without security as the Board may think fit, notwithstanding that monies to be borrowed together with monies already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) may exceed the aggregate of the paid-up share capital, free reserves and securities premium of the Company, provided that the total amount so borrowed (other than temporary loans from the Company’s bankers in the ordinary course of business) and outstanding at any point of time shall not exceed a sum of Rs. 2500 CroresMoreLess
    1 for0 against
  • To authorise the Board of Directors to create such charges, mortgages and hypothecations in addition to the existing charges, mortgages and hypothecations created by the Company, on such movable and immovable properties, both present and future, for the purpose of due payment of the principal and/or together with interest, charges, costs, expenses and all other monies payable by the Company in respect of such borrowings and in such form, manner and with such ranking and on such terms & conditions, as the Board may deem fit, in favour of the Lenders / Security Trustee, provided that the aggregate indebtedness secured by the assets/properties of the Company shall not at any time exceed the aggregate limit of Rs. 2500 CroresMoreLess
    1 for0 against

Mutual fund votes, meeting of 15 Nov 2021, 1 fund house

  • To approve the Scheme of Amalgamation (by way of merger byAbsorption) of Pranavaditya Spinning Mills Limited (“Transferor Company’’) with Indo Count Industries Limited (“Transferee Company” ) on a going concern basis, as enclosed to the notice of the Hon’ble Tribunal convened meeting of theequity shareholders of the Company.MoreLess
    1 for0 against

Mutual fund votes, meeting of 3 Sep 2021, 2 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2021, together with the Reports of the Board of Directors and the Auditors thereon and the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2021, together with the Report of the Auditors thereon.MoreLess
    2 for0 against
  • To declare Final Dividend of Rs. 1.5/- per Equity Share of face value of Rs. 2/- each for the Financial Year ended March 31, 2021.
    2 for0 against
  • To appoint a Director in place of Mr. Mohit Anilkumar Jain (DIN: 01473966), who retires by rotation and being eligible, offers himself for the re-appointment.
    2 for0 against
  • Re-appointment of Mr. Kailash R. Lalpuria (DIN: 00059758) as a Whole Time Director designated as “Executive Director & CEO” of the Company for further period of 3 years with effect from May 4, 2021.
    2 for0 against

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

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeMaharashtra Goods & Service Tax Department, KolhapurSince 28 Dec 2021
    The Company has filed an appeal before GSTAT on 26.06.2026 & 27.06.2026 against the said orders
    At the filing before: The GST Department had raised a demand aggregating to ₹3.44 crore (excluding interest and penalty) for the period April 2019 to December 2019, in respect of: (1) services provided to distinct persons, (2) commission on corporate bank guarantees, (3) commission paid to foreign persons on exports, and (4) reverse charge mechanism (RCM) on foreign bank charges. For the said nine-months period, the Company filed individual appeals for each month. Out of these, orders have been received for five appeals pertaining to the months of April to July and November, vide Orders of the Commissioner (Appeals) dated 29.12.2025, 30.12.2025, 05.01.2026, 30.12.2025, and 30.10.2025, respectively. Pursuant to these orders, the demand amounting to ₹2.10 crore out of the total demand of ₹3.44 crore has been substantially reduced to ₹0.09 crore. The Company has filed further appeal before GSTAT against the said Orders.MoreLess
  • Tax disputeMaharashtra Goods & Service Tax Department, KolhapurSince 21 Feb 2023
    The Company has filed an appeal before GSTAT on 30.06.2026 against the said order
    At the filing before: The GST Department had raised a demand aggregating to ₹6.32 crore (excluding interest and penalty) for the period July 2017 to March 2018, in respect of: (1) services provided to distinct persons, (2) commission on corporate bank guarantees, (3) commission paid to foreign persons on exports, (4) reverse charge mechanism on foreign bank charges, and (5) excess refund granted by the Department. Pursuant to the Order dated 30.10.2025 passed by the Commissioner (Appeals), the major portion of the demand amounting to ₹6.32 crore has been reduced to ₹1.34 crore. The Company has filed further appeal before GSTAT against the said Order.MoreLess
  • Tax disputeMaharashtra Goods & Service Tax Department, KolhapurSince 1 Apr 2024
    The Company has filed an appeal before GSTAT on 26.06.2026 against the said order
    At the filing before: Appeal filed against GST Dept Scrutiny Report as input disallowed due to these vendors declared as “NON GENUINE TAX PAYER” disputed tax amount of Rs.14.09 lakhs. The appeal has been decided in favour of the Department vide its order dated 20.02.2026. The Company has filed a further appeal before GSTAT against the said Order.MoreLess
  • Tax disputeMaharashtra Goods & Service Tax Department, PuneSince 6 Feb 2015
    The Company received the order in its favour on 27.05.2026, and the refund is awaited
    At the filing before: PSML matter 4.39 lakhs. MGTP dealers, GST set off were disallowed due to vendor declared as “NON GENUINE TAX PAYER”
  • Tax disputeMaharashtra Goods & Service Tax Department, KolhapurSince 14 Feb 2025
    The Company has filed an appeal before GSTAT on 27.06.2026 against the said Order
    At the filing before: The GST Department had raised a demand aggregating to ₹3.43 crore (excluding interest and penalty) for the period April 2020 to March 2021, in respect of: (1) services provided to distinct persons, (2) commission paid to foreign persons on exports, (3) reverse charge mechanism (RCM) on foreign bank charges,and (4) certain mismatch of ITC and small amount of credit Pursuant to the Order dated 24.02.2026 passed by the Commissioner (Appeals), the major portion of the demand amounting to ₹3.43 crore has been reduced to ₹0.41 crore. The Company has filed further appeal before GSTAT against the said Order.MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

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

  • Received
  • Resolved

Open at the quarter's end

At most 2 complaints open, quarter to Dec 2025.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.