Jindal Saw logo

Jindal Saw MD, chairman, board of directors and AGM

NSE: JINDALSAWBSE: 500378Industrial ProductsSmall Cap

Formerly Saw Pipes
Last close ₹232.15down ₹17.45 (6.99%)BSE ₹232.25

Share price at the NSE close on 23 Oct 2026. Previous close ₹249.60.

52-week range of traded prices to 23 Oct 2026
₹153.00Low, 9 Dec 2025₹320.00High, 10 Sep 2026
Market cap
₹14,846 Cr471st largest listed
P/E
27.1
P/B
1.2
Dividend yield
0.86%
ROE
4.4%
ROCE
6.7%
Debt to equity
0.34
Volume, NSE
29,08,45846.3% delivered

Jindal Saw 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

  • ChairpersonPrithavi Raj Jindal
  • Managing directorSminu Jindal
  • Company Secretary and Compliance OfficerSunil K. Jain

13 directors7 independent4 executive2 non-executive

  • Prithavi Raj Jindal · ChairpersonNon-executive · joined Oct 1984 · reappointed Jun 2025 · 1 listed board
  • Sminu Jindal · Managing directorExecutive · joined Sep 1997 · reappointed Jun 2024 · 1 listed board · 1 committee seat
  • Shraddha Prithvi RjExecutive · joined Jul 2014 · reappointed May 2026 · 1 listed board
  • Tripti Jindal AryaExecutive · joined May 2014 · reappointed Jun 2025 · 1 listed board
  • Neeraj KumarNon-executive · joined Jul 2013 · reappointed May 2026 · 1 listed board
  • Nitin SharmaExecutive · joined Nov 2024 · reappointed Nov 2024 · 1 listed board
  • Satyakam MishraIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • Chandra Shekhar AgrawalIndependent · joined Aug 2024 · reappointed Aug 2024 · 22 months as independent · 1 listed board · 1 as independent
  • Ajit Kumar HazarikaIndependent · joined Jul 2016 · reappointed Jul 2021 · 119 months as independent · 2 listed boards · 2 as independent · 5 committee seats
  • Vinita JhaIndependent · joined Mar 2019 · reappointed Mar 2024 · 87 months as independent · 2 listed boards · 2 as independent
  • Sanjeev ShankarIndependent · joined Mar 2019 · reappointed Mar 2024 · 87 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Girish SharmaIndependent · joined Mar 2019 · reappointed Mar 2024 · 87 months as independent · 2 listed boards · 2 as independent · 3 committee seats
  • Ashutosh KarnatakIndependent · joined Apr 2026 · reappointed Apr 2026 · 2 months as independent · 1 listed board · 1 as independent

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
  • Abhiram Tayal, left 9 Jul 2025: Tenure Completion
  • Hawa Singh Chaudhary, left 31 Oct 2024: Others

Committees and meetings

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

  • Board

    • 27 Apr 202612 of 13 present7 independent · 6 days in between
    • 20 Apr 202611 of 12 present6 independent · 93 days in between
    • 16 Jan 202610 of 12 present6 independent

  • Audit Committee

    Chair Satyakam Mishra

    Girish Sharma, Ajit Kumar Hazarika, Sanjeev Shankar

    • 27 Apr 20264 of 4 present4 independent · 100 days in between
    • 16 Jan 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair Satyakam Mishra

    Ajit Kumar Hazarika, Vinita Jha

    • 27 Apr 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Satyakam Mishra

    Sminu Jindal, Ajit Kumar Hazarika, Girish Sharma

    • 4 Feb 20263 of 4 present3 independent

  • Risk Management Committee

    Chair Satyakam Mishra

    Nitin Sharma, Ajit Kumar Hazarika, Vinay Kumar, Narendra Mantri

    • 23 Mar 20263 of 5 present2 independent

  • Corporate Social Responsibility Committee

    Chair Satyakam Mishra

    Sminu Jindal, Sanjeev Shankar, Girish Sharma

    • 23 Mar 20264 of 4 present3 independent · 46 days in between
    • 4 Feb 20263 of 4 present3 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.

  • Price Waterhouse Chartered Accountants LLPPeer-review certificate valid to Nov 2026
1 earlier auditor
  • Price Waterhouse Chatered Accountants LLPNamed in the filing for the quarter to Sep 2025

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.

Jindal Saw 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.Jindal Saw dividend history

Annual general meeting, 29 May 2026

1,86,469 shareholders on the register on 22 May 2026; present: 19 promoters and 47 others; votes counted by Awanish K. Dwivedi / Awanish Dwivedi & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026 and the reports of the Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.63% · promoters 100.00% · institutions 85.11% · other public 2.07%

  2. To declare a dividend on equity shares
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 100.00% · institutions 86.50% · other public 2.07%

  3. To appoint a Director in place of Ms. Shraddha Prithvi RJ, JMD, (DIN: 00016940), who retires by rotation and, being eligible, offers herself for re-appointment.
    Ordinary
    87.49% for12.51% against

    Against: promoters 0.00% · institutions 55.81% · other public 0.13%

    Turnout: all 81.94% · promoters 100.00% · institutions 86.54% · other public 2.07%

  4. To appoint a Director in place of Shri Neeraj Kumar, Director (DIN: 01776688), who retires by rotation and, being eligible, offers himself for re-appointment.
    Ordinary
    90.71% for9.29% against

    Against: promoters 0.00% · institutions 41.44% · other public 0.14%

    Turnout: all 81.94% · promoters 100.00% · institutions 86.54% · other public 2.07%

  5. To consider and approve the appointment of Dr. Ashutosh Karnatak(DIN:03267102) as Independent Director of the company
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.28% · other public 0.03%

    Turnout: all 81.93% · promoters 100.00% · institutions 86.50% · other public 2.07%

  6. To consider and approve the continuation of Directorship of Shri Prithavi Raj Jindal (DIN: 00005301) as Non-Executive Director of the Company upon attaining the age of 75 years.
    Special
    89.09% for10.91% against

    Against: promoters 0.00% · institutions 48.68% · other public 0.08%

    Turnout: all 81.94% · promoters 100.00% · institutions 86.54% · other public 2.07%

  7. To consider and approve Material Related Party Transaction(s) with JWIL Infra Limited.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 18.68% · promoters 0.00% · institutions 86.50% · other public 2.07%

  8. 8. To consider and approve Material Related Party Transaction(s) with JSW Steel Limited.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 18.68% · promoters 0.00% · institutions 86.50% · other public 2.07%

  9. To consider and approve Material Related Party Transaction(s) with Jindal Steel Limited.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 18.68% · promoters 0.00% · institutions 86.50% · other public 2.07%

  10. To consider and approve ratification of remuneration to be paid to M/s R.J. Goel & Co., Cost Accountants, as Cost Auditors of the Company, for the financial year 2026-27 and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 100.00% · institutions 86.50% · other public 2.07%

  11. To consider and approve the issuance of Non-Convertible Debentures on private placement basis and if thought fit, pass with or without modification(s) the following resolution as a Special Resolution
    Special
    100.00% for0.00% against

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

    Turnout: all 81.93% · promoters 100.00% · institutions 86.50% · other public 2.07%

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, 12 Jun 2025, 11 resolutions

1,81,507 shareholders on the register on 5 Jun 2025; present: 19 promoters and 43 others; votes counted by Awanish K. Dwivedi / Awanish Dwivedi & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 and the reports of the Directors and Auditors thereonMoreLess
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 78.95% · promoters 100.00% · institutions 74.12% · other public 2.17%

  2. To declare a dividend on equity shares
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.36% · promoters 100.00% · institutions 76.09% · other public 2.18%

  3. To appoint a Director in place of Shri Prithavi Raj Jindal, Director, (DIN: 00005301), who retires by rotation and, being eligible, offers himself for re-appointment.
    Ordinary
    98.04% for1.96% against

    Against: promoters 0.00% · institutions 9.87% · other public 0.67%

    Turnout: all 79.36% · promoters 100.00% · institutions 76.09% · other public 2.18%

  4. To appoint a Director in place of Ms. Tripti Jindal Arya, Joint Managing Director (DIN: 00371397), who retires by rotation and, being eligible, offers herself for re-appointment.
    Ordinary
    84.97% for15.03% against

    Against: promoters 0.00% · institutions 75.85% · other public 0.19%

    Turnout: all 79.36% · promoters 100.00% · institutions 76.09% · other public 2.18%

  5. To consider and approve the reappointment of Ms. Sminu Jindal (DIN: 00005317) as Managing Director of the Company and if thought fit, pass with or without modification(s) the following resolution as a Special Resolution:MoreLess
    Special
    88.44% for11.56% against

    Against: promoters 0.00% · institutions 58.32% · other public 0.15%

    Turnout: all 79.36% · promoters 100.00% · institutions 76.09% · other public 2.18%

  6. To consider and approve Material Related Party Transaction(s) with JWIL Infra Limited and if thought fit, pass with or without modification(s) the following resolution as an Ordinary Resolution:
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 16.07% · promoters 0.00% · institutions 76.09% · other public 2.17%

  7. To consider and approve Material Related Party Transaction(s) with JSW Steel Limited and if thought fit, pass with or without modification(s) the following resolution as an Ordinary Resolution:
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 16.07% · promoters 0.00% · institutions 76.09% · other public 2.17%

  8. To consider and approve Material Related Party Transaction(s) with Jindal Steel and Power Limited and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 16.07% · promoters 0.00% · institutions 76.09% · other public 2.17%

  9. To consider and approve ratification of remuneration to be paid to M/s R.J. Goel & Co., Cost Accountants, as Cost Auditors of the Company, for the financial year 2025-26 and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.36% · promoters 100.00% · institutions 76.09% · other public 2.17%

  10. To consider and approve appointment of M/s S.K. Gupta & Co., Company Secretaries, as Secretarial Auditors of the Company for period of 5 consecutive years and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.35% · promoters 100.00% · institutions 76.09% · other public 2.16%

  11. To consider and approve the issuance of Non-Convertible Debentures on private placement basis and if thought fit, pass with or without modification(s) the following resolution as a Special Resolution
    Special
    100.00% for0.00% against

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

    Turnout: all 79.36% · promoters 100.00% · institutions 76.09% · other public 2.18%

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.

Extraordinary general meeting, 6 Dec 2024, 1 resolution

Present: 18 promoters and 45 others.The company's voting result (opens in a new tab)

  1. CONSIDER AND APPROVE THE APPOINTMENT OF SHRI NITIN SHARMA (DIN: 08535415) AS WHOLE-TIME DIRECTOR
    Ordinary
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 1.22% · other public 0.05%

    Turnout: all 79.70% · promoters 100.00% · institutions 77.43% · other public 1.10%

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.

Extraordinary general meeting, 23 Sep 2024, 4 resolutions

Present: 16 promoters and 42 others.The company's voting result (opens in a new tab)

  1. tTo consider and approve the appointment of Shri Satyakam Mishra (DIN: 10711600) as Independent Director of the Company
    Special
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 1.20% · other public 1.09%

    Turnout: all 79.03% · promoters 100.00% · institutions 74.25% · other public 1.16%

  2. To consider and approve the appointment of Dr. Chandra Shekhar Agrawal (DIN: 10740719) as Independent Director of the Company.
    Special
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 1.20% · other public 1.08%

    Turnout: all 79.03% · promoters 100.00% · institutions 74.25% · other public 1.16%

  3. To consider and approve the sub-division of face value of equity shares of the Company from Rs. 2/- each fully paid up to Re. 1/- each fully paid up.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.04%

    Turnout: all 79.03% · promoters 100.00% · institutions 74.25% · other public 1.16%

  4. To consider and approve the alteration of Capital Clause of the Memorandum of Association of the Company to give effect to sub-division of face value of equity shares
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.04%

    Turnout: all 79.03% · promoters 100.00% · institutions 74.25% · other public 1.16%

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, 18 Jun 2024, 11 resolutions

Present: 16 promoters and 53 others.The company's voting result (opens in a new tab)

  1. Consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 and the reports of the Directors and Auditors thereon.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.27% · other public 0.03%

    Turnout: all 76.40% · promoters 99.99% · institutions 67.12% · other public 1.48%

  2. Declare a dividend on equity shares.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.93% · promoters 99.99% · institutions 69.86% · other public 1.48%

  3. Appoint a Director in place of Ms. Sminu Jindal, Managing Director (DIN: 00005317), who retires by rotation and, being eligible, offers herself for re-appointment.
    Ordinary
    86.29% for13.71% against

    Against: promoters 0.00% · institutions 78.77% · other public 0.10%

    Turnout: all 76.93% · promoters 99.99% · institutions 69.86% · other public 1.48%

  4. Appoint a Director in place of Mr. Neeraj Kumar, Group CEO and Whole Time Director, (DIN: 01776688), who retires by rotation and, being eligible, offers himself for re-appointment.
    Ordinary
    95.86% for4.14% against

    Against: promoters 0.00% · institutions 23.80% · other public 0.13%

    Turnout: all 76.92% · promoters 99.99% · institutions 69.83% · other public 1.48%

  5. Approval of related party transactions with JWIL Infra Limited to be entered into during FY 2024-25 and 2025-26.
    OrdinaryPromoters have an interest in it
    90.16% for9.84% against

    Against: promoters 0.00% · institutions 10.03% · other public 0.12%

    Turnout: all 13.65% · promoters 0.00% · institutions 69.86% · other public 1.48%

  6. Approval of related party transactions with JSW Steel Limited to be entered into during FY 2025-26.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 13.65% · promoters 0.00% · institutions 69.86% · other public 1.48%

  7. Approval of related party transactions with Jindal Steel & Power Limited to be entered into during FY 2025-26.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 13.65% · promoters 0.00% · institutions 69.86% · other public 1.48%

  8. Ratification of remuneration to be paid to M/s R. J. Goel & Co., Cost Accountants for the year 2024-25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.05%

    Turnout: all 75.17% · promoters 97.21% · institutions 69.86% · other public 1.48%

  9. Approval for conversion of loan into equity shares, in case of default in repayment
    Special
    97.92% for2.08% against

    Against: promoters 0.00% · institutions 11.94% · other public 0.12%

    Turnout: all 76.93% · promoters 99.99% · institutions 69.86% · other public 1.48%

  10. Approval for issuance of debentures on private placement basis.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 76.93% · promoters 99.99% · institutions 69.86% · other public 1.48%

  11. Approval of payment of remuneration on account of SARs exercised by Shri. Neeraj Kumar over and above the overall ceiling of annual remuneration payable to him.
    Special
    84.87% for15.13% against

    Against: promoters 0.00% · institutions 86.89% · other public 0.15%

    Turnout: all 76.93% · promoters 99.99% · institutions 69.86% · other public 1.48%

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

Extraordinary general meeting, 12 Jan 2024, 1 resolution

Present: 18 promoters and 42 others.The company's voting result (opens in a new tab)

  1. To consider and approve to raise capital by way of a qualified institutions placement to eligible investors through an issuance of equity shares or other eligible securities for an amount aggregating up to ₹1,000 crore.MoreLess
    Special
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 1.02% · other public 0.05%

    Turnout: all 75.80% · promoters 100.00% · institutions 70.26% · other public 1.45%

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.

Extraordinary general meeting, 24 Nov 2023, 1 resolution

Present: 18 promoters and 40 others.The company's voting result (opens in a new tab)

  1. Approval for the modification in Jindal Saw Limited Stock Appreciation Rights’ Scheme 2018.
    Special
    97.92% for2.08% against

    Against: promoters 0.00% · institutions 12.44% · other public 13.39%

    Turnout: all 75.92% · promoters 100.00% · institutions 63.99% · other public 0.24%

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 Jun 2023, 20 resolutions

Present: 17 promoters and 54 others.The company's voting result (opens in a new tab)

  1. Consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2023 and the reports of the Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.71% · promoters 100.00% · institutions 76.30% · other public 10.95%

  2. Declaration of dividend on Equity Shares
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  3. Appoint a Director in place of Shri Prithavi Raj Jindal, Director (DIN: 00005301), who retires by rotation and, being eligible, offers himself for re-appointment
    Ordinary
    93.47% for6.53% against

    Against: promoters 0.00% · institutions 37.47% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  4. Appoint a Director in place of Ms. Shradha Jatia, Director, (DIN: 00016940), who retires by rotation and, being eligible, offers herself for re-appointment
    Ordinary
    93.63% for6.37% against

    Against: promoters 0.00% · institutions 36.55% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  5. Reappointment of Shri Sanjeev Shankar as an Independent Director for his Second Term of five consecutive years
    Special
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 1.41% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  6. Reappointment of Shri Girish Sharma as an Independent Director for his Second Term of five consecutive years
    Special
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 2.23% · other public 0.00%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  7. Reappointment of Dr. Vinita Jha as an Independent Director for her Second Term of five consecutive years
    Special
    99.07% for0.93% against

    Against: promoters 0.00% · institutions 5.35% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  8. Revision in remuneration payable to Ms. Sminu Jindal as Managing Director
    Special
    90.81% for9.19% against

    Against: promoters 0.00% · institutions 52.75% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  9. Appointment of Ms. Shradha Jatia as Whole-time Director for a period of five years
    Special
    90.67% for9.33% against

    Against: promoters 0.00% · institutions 53.56% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  10. Appointment of Ms. Tripti Arya as Whole-time Director for a period of five years
    Special
    90.33% for9.67% against

    Against: promoters 0.00% · institutions 55.48% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  11. Reappointment of Shri Neeraj Kumar as Group CEO & Whole-time Director for a period of five years
    Special
    89.21% for10.79% against

    Against: promoters 0.00% · institutions 61.92% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  12. Reappointment of Shri Hawa Singh Chaudhary as Whole-time Director for a period of two years
    Special
    89.71% for10.29% against

    Against: promoters 0.00% · institutions 59.06% · other public 0.01%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  13. To ratify the transactions entered with JSW Steel Limited
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 15.90% · promoters 0.00% · institutions 78.80% · other public 10.95%

  14. Approval of related party transactions with JSW Steel Limited to be entered into during 2023-24 and 2024-25
    OrdinaryPromoters have an interest in it
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 0.81% · other public 0.00%

    Turnout: all 15.90% · promoters 0.00% · institutions 78.80% · other public 10.95%

  15. Approval of related party transactions with Jindal Steel & Power Limited to be entered into during 2023-24 and 2024-25
    OrdinaryPromoters have an interest in it
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 0.81% · other public 0.00%

    Turnout: all 15.90% · promoters 0.00% · institutions 78.80% · other public 10.95%

  16. Approval for borrowing upto Rupees 20,000 crores under provisions of Section 180(1)(c) of the Companies Act, 2013
    Special
    87.49% for12.51% against

    Against: promoters 0.00% · institutions 57.72% · other public 91.98%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  17. Approval under Section 180(1)(a) of the Companies Act, 2013 to hypothecate/mortgage and/or charge and/or encumber in addition to the hypothecation/mortgages and/or charges and/or encumbrances created by the CompanyMoreLess
    Special
    90.65% for9.35% against

    Against: promoters 0.00% · institutions 53.70% · other public 0.00%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  18. Ratification of remuneration to be paid to M/s R. J. Goel & Co., Cost Accountants for the year 2023-24
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  19. Approval for conversion of loan into equity shares, in case of default in repayment
    Special
    98.73% for1.27% against

    Against: promoters 0.00% · institutions 7.30% · other public 0.00%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

  20. Approval for issuance of debentures on private placement basis
    Special
    99.15% for0.85% against

    Against: promoters 0.00% · institutions 3.75% · other public 7.43%

    Turnout: all 79.15% · promoters 100.00% · institutions 78.80% · other public 10.95%

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 29 May 2026, 22 fund houses

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

  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026 and the reports of the Directors and Auditors thereonMoreLess
    22 for0 against
  • To declare a dividend on equity shares
    17 for0 against
  • To appoint a Director in place of Ms. Shraddha Prithvi RJ, JMD, (DIN: 00016940), who retires by rotation and, being eligible, offers herself for re-appointment.
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance concern: Low attendance at Board meetings.
    • Axis Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund, UTI Mutual FundMs. Shraddha Prithvi RJ a.k.a. Shradha Jatia, 51, is the daughter of Prithavi Raj Jindal. She is the Joint Managing Director of and part of the promoter group. She has served on the board since 24 July 2014. She has attended two out of five (40%) board meetings held in FY26 and twelve out of eighteen (67%) board meetings held over last three years. We expect directors to attend all board meetings during the year and have an attendance threshold of 75% of the board meetings over the last three years. Hence, we do not support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance concern: Low attendance at Board meetings.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Motilal Oswal Mutual FundLow attendance at board meetings.
    • Nippon India Mutual FundGovernance Concern: Low attendance at Audit Committee meetings and no justification has been provided for such leave of absence.
    9 for13 against
  • To appoint a Director in place of Shri Neeraj Kumar, Director (DIN: 01776688), who retires by rotation and, being eligible, offers himself for re-appointment.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted because: The board independence norms are not met and Neeraj Kumar are non-independent director nominees. Prithavi Raj Jindal have attended less than 75 percent of the board meetings over the most recent fiscal year, without a satisfactory explanation.
    21 for1 against
  • To consider and approve the appointment of Dr. Ashutosh Karnatak(DIN:03267102) as Independent Director of the company
    22 for0 against
  • To consider and approve the continuation of Directorship of Shri Prithavi Raj Jindal (DIN: 00005301) as Non-Executive Director of the Company upon attaining the age of 75 years.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted because: The board independence norms are not met and Prithavi Raj Jindal are non-independent director nominees. Prithavi Raj Jindal have attended less than 75 percent of the board meetings over the most recent fiscal year, without a satisfactory explanation.
    21 for1 against
  • To consider and approve Material Related Party Transaction(s) with JWIL Infra Limited.
    22 for0 against
  • 8. To consider and approve Material Related Party Transaction(s) with JSW Steel Limited.
    22 for0 against
  • To consider and approve Material Related Party Transaction(s) with Jindal Steel Limited.
    22 for0 against
  • To consider and approve ratification of remuneration to be paid to M/s R.J. Goel & Co., Cost Accountants, as Cost Auditors of the Company, for the financial year 2026-27 and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    22 for0 against
  • To consider and approve the issuance of Non-Convertible Debentures on private placement basis and if thought fit, pass with or without modification(s) the following resolution as a Special Resolution
    22 for0 against
2 proposals not matched to one resolution
  • 2) Approve final dividend of Rs. 2.0 per share (face value Re. 1.0) for FY26.
    1 for0 against
  • Approve final dividend of Rs. 2.0 per share (face value Re. 1.0) for FY26
    4 for0 against

Mutual fund votes, meeting of 12 Jun 2025, 14 fund houses

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

  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 and the reports of the Directors and Auditors thereonMoreLess
    14 for0 against
  • To declare a dividend on equity shares
    13 for0 against
  • To appoint a Director in place of Shri Prithavi Raj Jindal, Director, (DIN: 00005301), who retires by rotation and, being eligible, offers himself for re-appointment.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance Concern: Mr. Prithavi Raj Jindal is a Chairperson related to Managing Director of the Company.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. Governance Concern: Mr. Prithavi Raj Jindal is a Chairperson related to Managing Director of the Company.
    9 for5 against
  • To appoint a Director in place of Ms. Tripti Jindal Arya, Joint Managing Director (DIN: 00371397), who retires by rotation and, being eligible, offers herself for re-appointment.
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Angel One Mutual FundGovernance Concern: The proposed appointee has poor attendance.
    • Axis Mutual Fund, SBI Mutual FundMs. Tripti Jindal Arya, 44, is the Joint Managing Director and part of the promoter family. She has attended 57% (four out of seven) of the board meetings held in FY25 and 53% (nine out of 17) of the board meetings held over the last three years. We expect directors to attend all board meetings during the year and have an attendance threshold of 75% of the board meetings over the last three years. Hence, we do not support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: The proposed appointee has poor attendance.
    • ICICI Prudential Mutual FundThe AMC has voted against the resolution due to low attendance in board meetings
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundGovernance Concern: Candidate attendance
    3 for11 against
  • To consider and approve the reappointment of Ms. Sminu Jindal (DIN: 00005317) as Managing Director of the Company and if thought fit, pass with or without modification(s) the following resolution as a Special Resolution:MoreLess
    Against Axis Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, SBI Mutual Fund
    • Axis Mutual FundMs. Sminu Jindal, 52, is the the Managing Director and part of the promoter family. She has been associated with the company since 1992. The company proposes to reappoint her as the Managing Director for five years from 1 February 2026. Ms. Sminu Jindal has been the MD of the company since 2001. We estimate her annual remuneration at Rs. 44.5 mn, which is reasonable for the size of the business and in line with peers. The company has not disclosed granular details of her remuneration. However, her overall annual remuneration has been capped at Rs. 50.0 mn. While her remuneration structure includes commission, it has been capped at Rs. 10.0 mn. At maximum payout, her variable pay will be 20% of total pay, which is low. Ms. Sminu Jindal attended 57% (four out of seven) board meetings in FY25 and 71% (12 out of 17) board meetings in the last three years. We expect directors to attend all board meetings; we have a threshold of 75% attendance over a three-year period. Given her low attendance, we do not support Ms. Sminu Jindal’s reappointment as Managing Director. Thus, we do not support the resolution.
    • ICICI Prudential Mutual FundThe AMC has voted against the resolution due to low attendance in board meetings
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • SBI Mutual FundMs. Sminu Jindal, 52, is the the Managing Director and part of the promoter family. She has been associated with the company since 1992. The company proposes to reappoint her as the Managing Director for five years from 1 February 2026. Her overall annual remuneration has been capped at Rs. 50.0 mn. While her remuneration structure includes commission, it has been capped at Rs. 10.0 mn. At maximum payout, her variable pay will be 20% of total pay, which is low. Ms. Sminu Jindal attended 57% (four out of seven) board meetings in FY25 and 71% (12 out of 17) board meetings in the last three years. We expect directors to attend all board meetings; we have a threshold of 75% attendance over a three-year period. Given her low attendance, we do not support Ms. Sminu Jindal’s reappointment as Managing Director. Thus, we do not support the resolution.
    10 for4 against
  • To consider and approve Material Related Party Transaction(s) with JWIL Infra Limited and if thought fit, pass with or without modification(s) the following resolution as an Ordinary Resolution:
    14 for0 against
  • To consider and approve Material Related Party Transaction(s) with JSW Steel Limited and if thought fit, pass with or without modification(s) the following resolution as an Ordinary Resolution:
    14 for0 against
  • To consider and approve Material Related Party Transaction(s) with Jindal Steel and Power Limited and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    14 for0 against
  • To consider and approve ratification of remuneration to be paid to M/s R.J. Goel & Co., Cost Accountants, as Cost Auditors of the Company, for the financial year 2025-26 and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    14 for0 against
  • To consider and approve appointment of M/s S.K. Gupta & Co., Company Secretaries, as Secretarial Auditors of the Company for period of 5 consecutive years and if thought fit, pass with or without modification(s) the following resolution as an Ordinary ResolutionMoreLess
    14 for0 against
  • To consider and approve the issuance of Non-Convertible Debentures on private placement basis and if thought fit, pass with or without modification(s) the following resolution as a Special Resolution
    14 for0 against
1 proposal not matched to one resolution
  • 2) Approve final dividend of Rs. 2.0 per share (face value Re. 1.0) for FY25.
    1 for0 against
6 earlier meetings

Mutual fund votes, meeting of 6 Dec 2024, 15 fund houses

  • CONSIDER AND APPROVE THE APPOINTMENT OF SHRI NITIN SHARMA (DIN: 08535415) AS WHOLE-TIME DIRECTOR
    15 for0 against

Mutual fund votes, meeting of 23 Sep 2024, 14 fund houses

  • tTo consider and approve the appointment of Shri Satyakam Mishra (DIN: 10711600) as Independent Director of the Company
    14 for0 against
  • To consider and approve the appointment of Dr. Chandra Shekhar Agrawal (DIN: 10740719) as Independent Director of the Company.
    14 for0 against
  • To consider and approve the sub-division of face value of equity shares of the Company from Rs. 2/- each fully paid up to Re. 1/- each fully paid up.
    14 for0 against
  • To consider and approve the alteration of Capital Clause of the Memorandum of Association of the Company to give effect to sub-division of face value of equity shares
    14 for0 against

Mutual fund votes, meeting of 18 Jun 2024, 13 fund houses

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

  • Consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 and the reports of the Directors and Auditors thereon.
    12 for0 against
  • Declare a dividend on equity shares.
    10 for0 against
  • Appoint a Director in place of Ms. Sminu Jindal, Managing Director (DIN: 00005317), who retires by rotation and, being eligible, offers herself for re-appointment.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST is warranted because: The board independence norms are not met and Sminu Jindal is a non-independent director nominee. She failed to attend at least 75% of board meetings in the most recent fiscal year, without a satisfactory explanation.
    11 for1 against
  • Appoint a Director in place of Mr. Neeraj Kumar, Group CEO and Whole Time Director, (DIN: 01776688), who retires by rotation and, being eligible, offers himself for re-appointment.
    12 for0 against
  • Approval of related party transactions with JWIL Infra Limited to be entered into during FY 2024-25 and 2025-26.
    Against Bandhan Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundThe Proposed resolution is Non-Compliant with law: Omnibus approval sought for a duration of more than one year.
    • ICICI Prudential Mutual FundThe Company has vide this resoluton, sought an omnibus approval for transactions with related party for a period exceeding a year and hence, the AMC has voted against the resolution.
    • Nippon India Mutual FundOmnibus Approval sought for >1 year
    8 for5 against
  • Approval of related party transactions with JSW Steel Limited to be entered into during FY 2025-26.
    11 for0 against
  • Approval of related party transactions with Jindal Steel & Power Limited to be entered into during FY 2025-26.
    11 for0 against
  • Ratification of remuneration to be paid to M/s R. J. Goel & Co., Cost Accountants for the year 2024-25.
    12 for0 against
  • Approval for conversion of loan into equity shares, in case of default in repayment
    1 for0 against
  • Approval for issuance of debentures on private placement basis.
    10 for0 against
  • Approval of payment of remuneration on account of SARs exercised by Shri. Neeraj Kumar over and above the overall ceiling of annual remuneration payable to him.
    Against Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Taurus Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Approval sought for a period more than a year.
    • DSP Mutual Fund, Taurus Mutual FundIn the 2023 AGM, shareholders had approved payment of remuneration to Neeraj Kumar as Group CEO and Whole-time Director of upto Rs. 150.0 mn, which includes a cap on all components of his remuneration. Neeraj Kumar is also granted Stock Appreciation Rights (SARs) as part of his remuneration. Through this resolution, the company seeks approval for value of perquisites on exercise of SARs by Neeraj Kumar to be over and above the ceiling of remuneration of Rs. 150.0 mn per annum. We do not consider the value of perquisites on exercise of SARs while computing remuneration. Instead, we factor in the fair value of SARs granted to him while computing his overall remuneration. The company has stated that Neeraj Kumar was grated SARs in FY24. However, the company has not disclosed the quantum of SARs granted to him. Further, there is no clarity on the quantum of stock options to be granted to him over his tenure. Therefore, we are unable to ascertain his remuneration. Further, the company has not quantified the variable pay in his overall remuneration. Given his responsibilities as Group CEO and Whole-time Director, we expect variable pay to comprise a large quantum of his overall remuneration, which will align his pay with the performance of the company.
    • Edelweiss Mutual FundShould stick to overall ceiling as approved on 20th June, 2023
    • HDFC Mutual FundThere is a lack of clarity on the remuneration and can undergo a material increase without seeking shareholder approval
    • HSBC Mutual FundNeeraj Kumar's remuneration structure is open-ended, and the board retains significant discretion in determining his pay outcomes. There is no disclosure on the number of SARs that the executive is entitled to receive each year. Historically, his remuneration has been entirely driven by the fixed pay element. His remuneration quantum is aggressively positioned against industry standards
    • ICICI Prudential Mutual FundDue to lack of details and clarity, the AMC has voted against the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundLack of clarity
    2 for11 against
19 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
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against
  • Item 8, as a fund house numbered it
    1 for0 against
  • Item 9, as a fund house numbered it
    1 for0 against
  • Item 10, as a fund house numbered it
    1 for0 against
  • 2) Approve final dividend of Rs. 4.0 per share (face value Rs. 2.0) for FY24.
    1 for0 against
  • 9) Approve right of lenders to convert the whole or part of the outstanding due amount under Working Capital facility, into equity shares of the company.
    1 for0 against
  • Approve final dividend of Rs. 4.0 per share (face value Rs. 2.0) for FY24
    1 for0 against
  • Approve right of lenders to convert the whole or part of the outstanding due amount under Working Capital facility, into equity shares of the company
    1 for0 against
  • Making offer(s) or invitations to subscribe to secured/ unsecured, redeemable, non - convertible debentures, in one or more tranches, aggregating up to Rs. 1,000 crores on private placement basis, as the Board of Directors of the Company may, from time to time, determine and consider proper and most beneficial to the Company including as to when the said debentures be issued, the consideration for the issue, utilisation of the issue proceeds and all matters connected with or incidental thereto.MoreLess
    1 for0 against
  • To approve, provisions of Section 62 of the Companies Act, 2013.
    1 for0 against
  • To approve, Sections 23, 42, 71 and all other applicable provisions of the Companies Act, 2013.
    1 for0 against
  • To enter into contract(s)/ arrangement(s)/ transaction(s) (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise) with Jindal Steel and Power Limited (JSPL), a related party of the Company as may be agreed between the Company (including any of its subsidiary) and JSPL from time to time, for an aggregate amount of up to Rs. 5000 crores (exclusive of any taxes, duties or charges but inclusive of material in transit) to be entered during financial year 2025 - 26 provided that such contract(s)/arrangement(s)/transaction(s) shall always be carried out at arm’s length and in the ordinary course of business of the Company.MoreLess
    1 for0 against
  • To enter into contract(s)/ arrangement(s)/ transaction(s) (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise) with JSW Steel Limited (JSW), a related party as may be agreed between the Company (including any of its subsidiary) and JSW from time to time, for an aggregate amount of up to Rs. 6000 crores (exclusive of any taxes, duties or charges but inclusive of material in transit) to be entered during financial year 2025 - 26 provided that such contract(s)/ arrangement(s)/ transaction(s) shall always be carried out at arm’s length and in the ordinary course of business of the Company.MoreLess
    1 for0 against
  • Working capital facility agreement (subject to cure periods / grace periods, where provided for), the lenders shall have the right to convert the whole or part of the outstanding due amounts under the working capital facility, into equity shares of the Company at a value as determined by the lenders, subject to the provisions of the Companies Act, 2013 and the applicable law, and in the manner specified by the lenders, in accordance with the working capital facility agreement.MoreLess
    8 for0 against

Mutual fund votes, meeting of 12 Jan 2024, 9 fund houses

  • To consider and approve to raise capital by way of a qualified institutions placement to eligible investors through an issuance of equity shares or other eligible securities for an amount aggregating up to ₹1,000 crore.MoreLess
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: No compelling reason to justify the potential dilution
    7 for2 against

Mutual fund votes, meeting of 24 Nov 2023, 6 fund houses

  • Approval for the modification in Jindal Saw Limited Stock Appreciation Rights’ Scheme 2018.
    Against HDFC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Motilal Oswal Mutual FundNon-compliant with SEBI SBEB & SE regulations: Board/NRC discretion to determine exercise price; total SAR pool not disclosed. Governance & Transparency Concern: Inadequate Disclosures.
    • Nippon India Mutual FundInadequate disclosure
    3 for3 against

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

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

  • Consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March, 2023 and the reports of the Directors and Auditors thereon
    1 for0 against
  • Declaration of dividend on Equity Shares
    1 for0 against
  • Appoint a Director in place of Shri Prithavi Raj Jindal, Director (DIN: 00005301), who retires by rotation and, being eligible, offers himself for re-appointment
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with Law. Governance Concern: Mr. Prithavi Raj Jindal is a Chairperson related to Managing Director of the Company.
    0 for1 against
  • Appoint a Director in place of Ms. Shradha Jatia, Director, (DIN: 00016940), who retires by rotation and, being eligible, offers herself for re-appointment
    1 for0 against
  • Reappointment of Shri Sanjeev Shankar as an Independent Director for his Second Term of five consecutive years
    1 for0 against
  • Reappointment of Shri Girish Sharma as an Independent Director for his Second Term of five consecutive years
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with law. Governance concern: Prolonged Association
    0 for1 against
  • Reappointment of Dr. Vinita Jha as an Independent Director for her Second Term of five consecutive years
    1 for0 against
  • Revision in remuneration payable to Ms. Sminu Jindal as Managing Director
    1 for0 against
  • Appointment of Ms. Shradha Jatia as Whole-time Director for a period of five years
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with Law. Governance Concern: Excessive and disproportionate remuneration.
    0 for1 against
  • Appointment of Ms. Tripti Arya as Whole-time Director for a period of five years
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with Law. Governance concern: Excessive and disproportionate remuneration & Low attendance in last three financial years
    0 for1 against
  • Reappointment of Shri Neeraj Kumar as Group CEO & Whole-time Director for a period of five years
    1 for0 against
  • Reappointment of Shri Hawa Singh Chaudhary as Whole-time Director for a period of two years
    1 for0 against
  • To ratify the transactions entered with JSW Steel Limited
    1 for0 against
  • Approval of related party transactions with JSW Steel Limited to be entered into during 2023-24 and 2024-25
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundThe Proposed resolution is Non-Compliant with law: Omnibus approval sought for a duration of more than one year.
    0 for1 against
  • Approval of related party transactions with Jindal Steel & Power Limited to be entered into during 2023-24 and 2024-25
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundThe Proposed resolution is Non-Compliant with law: Omnibus approval sought for a duration of more than one year.
    0 for1 against
  • Approval under Section 180(1)(a) of the Companies Act, 2013 to hypothecate/mortgage and/or charge and/or encumber in addition to the hypothecation/mortgages and/or charges and/or encumbrances created by the CompanyMoreLess
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with the law. Governance Concern: Majority of the borrowing limit unutilized and absence of specific reasons for the proposed increase and proposed borrowing limit is more than the asset size of the Company.
    0 for1 against
  • Ratification of remuneration to be paid to M/s R. J. Goel & Co., Cost Accountants for the year 2023-24
    1 for0 against
  • Approval for conversion of loan into equity shares, in case of default in repayment
    1 for0 against
  • Approval for issuance of debentures on private placement basis
    1 for0 against
2 proposals not matched to one resolution
  • For borrowing from time to time, any sum or sums of money, on such security and on such terms and conditions as the Board may deem fit, notwithstanding that the money to be borrowed together with the money already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) including rupee equivalent of foreign currency loans (such rupee equivalent being calculated at the exchange rate prevailing as on the date of the relevant foreign currency agreement) may exceed, at any time, the aggregate of the paid-up capital of the Company and its free reserves, provided however, the total amount so borrowed in excess of the aggregate of the paid up capital of the Company and its free reserves shall not at any time exceed Rs.20,000 Crore.MoreLess
    Against JM Financial Mutual Fund
    • JM Financial Mutual FundCompliant with the law. Governance Concern: Majority of the borrowing limit unutilized and absence of specific reasons for the proposed increase and proposed borrowing limit is more than the Asset size of the Company.
    0 for1 against
  • Issue of equity shares and/or fully convertible debentures/ partly convertible debentures/ optionally convertible debentures/ non-convertible debentures along with warrants and/ or convertible securities other than warrants convertible into equity shares, in one or more tranches, through a Qualified Institutional Placement, not exceeding a sum of Rs.1,000 crores.MoreLess
    1 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 disputeIncome Tax DepartmentSince 12 Jun 2026
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 27 Jun 2025
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 27 Mar 2024
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 28 Dec 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 2 May 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 31 May 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 10 Aug 2021
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 24 Apr 2025
    Appeal pending with CIT (A)
78 more
  • Tax disputeIncome Tax DepartmentSince 19 Apr 2024
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 19 Apr 2024
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 24 Feb 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 19 Apr 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 19 Apr 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 10 Nov 2023
    Appeal pending with CIT (A)
  • Tax disputeIncome Tax DepartmentSince 24 May 2022
    Appeal pending with ITAT (Delhi)
  • Tax disputeIncome Tax DepartmentSince 8 Apr 2026
    Appeal pending with ITAT (Delhi)
  • Tax disputeIncome Tax DepartmentSince 19 Apr 2018
    Appeal pending with ITAT (Delhi)
  • Tax disputeIncome Tax DepartmentSince 19 Apr 2018
    Appeal pending with ITAT (Delhi)
  • Tax disputeJindal Saw LimitedSince 24 May 2022
    Appeal pending with ITAT (Delhi)
  • Tax disputeJindal Saw LimitedSince 6 Apr 2018
    Appeal pending with ITAT (Delhi)
  • Tax disputeJindal Saw LimitedSince 6 Apr 2018
    Appeal pending with ITAT (Delhi)
  • Tax disputeJindal Saw LimitedSince 18 May 2026
    Appeal pending with ITAT (Delhi)
  • Tax disputeJindal Saw LimitedSince 18 May 2026
    Appeal pending with ITAT (Delhi)
  • Tax disputeCustom, Mundra/ Union of IndiaSince 22 Dec 2008
    Pending before the Hon'ble High Court of Gujarat
  • Tax disputeCustom, MumbaiSince 9 Apr 2015
    Pending before the CESTAT, Mumbai
  • Tax disputeCustom, MumbaiSince 10 Nov 2009
    Pending before the CESTAT, Mumbai
  • Tax disputeCustoms, MundraSince 17 Oct 2011
    Pending before the Hon'ble High Court of Gujarat
  • Tax disputeJurisdictional Central Excise AuthoritySince 17 Sep 2008
    Pending before the Hon'ble High Cour of Gujarat
  • Tax disputeJurisdictional Central Excise AuthoritySince 8 Apr 2011
    CESTAT, Mumbai
  • Tax disputeJurisdictional Central Excise AuthoritySince 25 Feb 2015
    High Court of Gujarat, Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 31 May 2010
    Commissioner (A), Rajkot
  • Tax disputeJurisdictional Central Excise AuthoritySince 18 Sep 2020
    CESTAT, Ahmedabad
    At the filing before: Commissioner (Appeals), Rajkot
  • Tax disputeJurisdictional Central Excise AuthoritySince 29 Mar 2023
    CESTAT, Allahabad, U.P.
  • Tax disputeJurisdictional Central Excise AuthoritySince 28 Mar 2014
    CESTAT Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 4 Nov 2016
    CESTAT Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 23 Jun 2010
    Commissioner (Appeals), Lucknow
  • Tax disputeJurisdictional Central Excise AuthoritySince 4 Aug 2009
    CESTAT, Mumbai
  • Tax disputeJurisdictional Central Excise AuthoritySince 4 Aug 2009
    CESTAT, Mumbai
  • Tax disputeJurisdictional Central Excise AuthoritySince 17 Oct 2016
    CESTAT Ahmedabad
    At the filing before: CESTAT, Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 28 Jun 2016
    CESTAT Ahmedabad
    At the filing before: CESTAT, Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 28 Jun 2016
    CESTAT Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 28 Jun 2016
    CESTAT Ahmedabad
    At the filing before: CESTAT, Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 28 Mar 2017
    CESTAT Ahmedabad
    At the filing before: CESTAT, Ahmedabad
  • Tax disputeJurisdictional Central Excise AuthoritySince 28 Apr 2017
    CESTAT Ahmedabad
    At the filing before: CESTAT, Ahmedabad
  • Tax disputeState Tax Authority U.P.Since 5 Jun 2008
    High Court of Allahabad
  • Tax disputeState Tax Authority U.P.Since 19 Feb 2009
    High Court of Allahabad
  • Tax disputeState Tax Authority U.P.Since 28 Nov 2000
    High Court of Allahabad
  • Tax disputeState Tax Authority U.P.Since 31 Jan 2008
    High Court of Allahabad
  • Tax disputeState Tax Authority, Andhra PradeshSince 24 Dec 2012
    Asstt. Commissioner, Peddapuram
  • Tax disputeState Tax Authority, RajasthanSince 1 Mar 2016
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, RajasthanSince 1 Mar 2016
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, RajasthanSince 23 Mar 2018
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, RajasthanSince 4 Oct 2019
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, RajasthanSince 28 Jan 2019
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, RajasthanSince 27 Apr 2015
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, RajasthanSince 23 Jan 2017
    Civil Petition is allowed, matter decided in our favour
    At the filing before: High Court of Rajasthan, Jodhpur
  • Tax disputeState Tax Authority, GujaratSince 5 Apr 2011
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 31 Mar 2012
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 30 Mar 2013
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 12 Mar 2014
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 2 Dec 2014
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 2 Dec 2014
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 30 Jul 2021
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 31 May 2022
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 17 Apr 2017
    Commercial Tax Tribunal, Ahmedabad
  • Tax disputeState Tax Authority, GujaratSince 28 Jul 2011
    Commercial Tax, Tribunal, Ahmedabad
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 2 Feb 2019
    GST Tribunal
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 26 Aug 2020
    Dy. Commissioner (A), Jaipur
    At the filing before: Dy. Commissioner (A)
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 26 Aug 2020
    Dy. Commissioner (A), Jaipur
    At the filing before: Dy. Commissioner (A)
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 20 Jan 2021
    Dy. Commissioner (A), Gujarat
    At the filing before: Dy. Commissioner (A)
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 8 Nov 2023
    Additional Commissioner (A), SGST, Ajmer
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 26 Apr 2023
    Additional Commissioner (A), SGST, Ajmer
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 18 Aug 2023
    Additional Commissioner, State Tax, Rajasthan
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 11 Sep 2023
    Dy.Commissioner (A), Rajkot
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 15 Sep 2023
    Dy.Commissioner (A), Rajkot
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 28 Dec 2023
    Commissioner (Appeal), State Tax Jodhpur, Rajasthan
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 22 Feb 2024
    Additional Commissioner (Appeals), State Tax, Jodhpur, Rajasthan
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 15 May 2024
    Additional Commissioner (A), SGST,Delhi
    At the filing before: AVATO, Delhi
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 19 Nov 2024
    Appeal to be filed before the Commissioner (A), State Tax, Delhi
    At the filing before: State Tax Officer, Delhi
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 28 Apr 2022
    High Court of Maharashtra
    At the filing before: Commissioner (Appeals)
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 7 Oct 2024
    GST Tribunal
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 26 Jun 2025
    Pending before Dy. Commissioner (A), Rajkot
    At the filing before: Dy. Commissioner (Appeals), Rajkot
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 27 Jun 2025
    Pending before Dy. Commissioner (A), Rajkot
    At the filing before: Dy. Commissioner (Appeals), Rajkot
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 6 Dec 2025
    Pending before Dy. Commissioner (A), Rajkot
    At the filing before: Dy. Commissioner (Appeals), Rajkot
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 3 Mar 2026
    Pending before Dy. Commissioner (A), Maharashtra
    At the filing before: Dy. Commissioner (Appeals), Solapur, Maharashtra
  • Tax disputeJurisdictional Goods & Service Tax AuthoritySince 18 Sep 2025
    Pending before Dy. Commissioner (A), Rajkot
    At the filing before: Appeal is yet be filed before Dy. Commissioner (A)

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 1 complaint open, quarter to Dec 2024.
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
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.