JSW Dulux logo

JSW Dulux CEO, MD, chairman, board of directors and AGM

NSE: JSWDULUXBSE: 500710Consumer DurablesSmall Cap

Formerly Akzo Nobel India
Last close ₹286.60down ₹15.60 (5.16%)BSE ₹286.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹302.20.

52-week range of traded prices to 23 Oct 2026
₹265.87Low, 1 Feb 2026₹374.50High, 2 Dec 2025
Market cap
₹13,052 Cr464th largest listed
P/E
6.7
P/E without one-offs
111.9
P/B
5.3
Dividend yield
1.74%
ROE
103.8%
ROE without one-offs
6.2%
ROCE
16.8%
Debt to equity
0.00
Volume, NSE
2,54,13650.9% delivered

JSW Dulux 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

  • Chief executiveRajiv Rajgopal
  • ChairpersonParth Sajjan JindalRelated to the promoter
  • Company Secretary and Compliance OfficerRajiv L. Jha

10 directors5 independent3 executive2 non-executive

  • Rajiv Rajgopal · Chief executiveExecutive · joined Nov 2018 · reappointed Nov 2023 · 92 months as independent · 1 listed board · 1 committee seat
  • Krishna RallapalliExecutive · joined Dec 2021 · 55 months as independent · 1 listed board · 1 committee seat
  • Hemant Sahai · Shareholder DirectorIndependent · joined Aug 2018 · reappointed Aug 2023 · 95 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 3 as chair
  • Rohit Ghanshyamdas TotlaExecutive · joined Nov 2023 · 31 months as independent · 1 listed board
  • Namrata Kaul · Shareholder DirectorIndependent · joined Aug 2024 · reappointed Aug 2024 · 22 months as independent · 3 listed boards · 3 as independent · 7 committee seats, 2 as chair
  • Anil Chaudhry · Shareholder DirectorIndependent · joined Nov 2024 · reappointed Nov 2024 · 18 months as independent · 4 listed boards · 4 as independent · 5 committee seats
  • Parth Sajjan Jindal · ChairpersonNon-executive · joined Jan 2026 · 5 months as independent · 3 listed boards
  • Shantanu Maharaj Khosla · Shareholder DirectorIndependent · joined Jan 2026 · 5 months as independent · 3 listed boards · 3 as independent · 2 committee seats
  • Kaustubh Sudhakar KulkarniNon-executive · joined Mar 2026 · 3 months as independent · 1 listed board
  • Sutapa Banerjee · Shareholder DirectorIndependent · joined Mar 2026 · 3 months as independent · 5 listed boards · 5 as independent · 7 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
  • Smriti Rekha Vijay, left 23 Nov 2024: Others

Committees and meetings

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

  • Board

    • 13 May 202610 of 10 present5 independent · 50 days in between
    • 23 Mar 20267 of 8 present4 independent

  • Audit Committee

    Chair Namrata Kaul

    Hemant Sahai, Anil Chaudhry, Shantanu Maharaj Khosla, Sutapa Banerjee

    • 13 May 20265 of 5 present5 independent · 50 days in between
    • 23 Mar 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair Anil Chaudhry

    Hemant Sahai, Namrata Kaul, Shantanu Maharaj Khosla, Sutapa Banerjee

    • 13 May 20265 of 5 present5 independent · 50 days in between
    • 23 Mar 20264 of 4 present4 independent

  • Stakeholders Relationship Committee

    Chair Hemant Sahai

    Rajiv Rajgopal, Krishna Rallapalli

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Hemant Sahai

    Rajiv Rajgopal, Krishna Rallapalli, Rohit Ghanshyamdas Totla, Namrata Kaul, Anil Chaudhry, Shantanu Maharaj Khosla, Sutapa Banerjee, Sumit Khatuja, Dr. Kumar Iyer

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Namrata Kaul

    Rajiv Rajgopal, Krishna Rallapalli, Rohit Ghanshyamdas Totla, Anil Chaudhry, Shantanu Maharaj Khosla, Sutapa Banerjee

    No meeting listed in the filing.

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Price Waterhouse Chartered 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.

JSW Dulux 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.JSW Dulux dividend history

Postal ballot, 20 Sep 2026

51,038 shareholders on the register on 7 Aug 2026; votes counted by ATUL KUMAR LABH / A K LABH & CO..The company's voting result (opens in a new tab)

  1. To approve sub-division/split of the face value of the equity shares of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.51%

    Turnout: all 85.79% · promoters 100.00% · institutions 80.63% · other public 0.60%

  2. To approve alteration of Capital Clause of the Memorandum of Association of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.71%

    Turnout: all 85.79% · promoters 100.00% · institutions 80.63% · other public 0.60%

  3. To approve alteration of Capital Clause of the Articles of Association of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.37%

    Turnout: all 85.79% · promoters 100.00% · institutions 80.63% · other public 0.60%

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, 10 Jul 2026, 6 resolutions

49,951 shareholders on the register on 3 Jul 2026; present: 1 promoter and 69 others; votes counted by ATUL KUMAR LABH / A K LABH & CO..The company's voting result (opens in a new tab)

  1. 1 - Adoption of audited financial statements (standalone and consolidated) for the year ended 31st March 2026 and the Reports of the Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.86% · promoters 100.00% · institutions 80.77% · other public 0.56%

  2. 2 - To confirm Interim Dividend of Rs. 156 per equity share, as declared and paid, and to declare Final Dividend of Rs. 50 per equity share of the Company for the Financial Year ended 31st March 2026.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.03% · other public 0.02%

    Turnout: all 85.92% · promoters 100.00% · institutions 80.95% · other public 0.56%

  3. 3 - Re appointment of Mr. Krishna Rallapalli (DIN 03384607) as a Director who retires by rotation and offers himself for re appointment.
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.28% · other public 0.07%

    Turnout: all 85.86% · promoters 100.00% · institutions 80.77% · other public 0.56%

  4. 4 - Re appointment of Mr. Rohit Ghanshyamdas Totla (DIN 10391749) as a Director who retires by rotation and offers himself for re appointment.
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.26% · other public 0.03%

    Turnout: all 85.86% · promoters 100.00% · institutions 80.77% · other public 0.56%

  5. 5 - Appointment of M/s. Deloitte Haskins and Sells LLP, Chartered Accountants as the Statutory Auditor of the Company for five years, i.e., FY 2026-27 to FY 2030-31
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.02%

    Turnout: all 85.86% · promoters 100.00% · institutions 80.77% · other public 0.56%

  6. 6 - Ratification of remuneration to Cost Auditors (M/s. Chandra Wadhwa and Co., Cost Accountants) for FY 2026-27
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.86% · promoters 100.00% · institutions 80.77% · other public 0.56%

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

Postal ballot, 26 Apr 2026, 8 resolutions

50,491 shareholders on the register on 20 Mar 2026; votes counted by ATUL KUMAR LABH / A K LABH & CO..The company's voting result (opens in a new tab)

  1. Appointment of Mr. Kaustubh Sudhakar Kulkarni (DIN: 08246083) as a Non-Executive Non-Independent Director of the Company
    Ordinary
    99.72% for0.28% against

    Against: promoters 0.00% · institutions 0.98% · other public 9.57%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.43%

  2. Appointment of Ms. Sutapa Banerjee (DIN 02844650) as an Independent Director of the Company
    Special
    86.22% for13.78% against

    Against: promoters 0.00% · institutions 49.43% · other public 10.10%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.43%

  3. Amendment in the Articles of Association of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 12.84%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.45%

  4. Approval of 'JSW Dulux Limited – Employee Stock Option Scheme 2026'
    Special
    99.70% for0.30% against

    Against: promoters 0.00% · institutions 1.06% · other public 16.03%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.45%

  5. Approval to the grant of employee stock options to the eligible employees of the Subsidiary company(ies) of the Company under ‘JSW Dulux Limited – Employee Stock Option Scheme 2026'
    Special
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.34% · other public 16.01%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.45%

  6. Approval to the grant of employee stock options to the eligible employees of the Holding Company of the Company under ‘JSW Dulux Limited – Employee Stock Option Scheme 2026'
    Special
    96.70% for3.30% against

    Against: promoters 0.00% · institutions 11.82% · other public 20.37%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.45%

  7. Approval to the implementation of ‘JSW Dulux Limited – Employee Stock Option Scheme 2026’ through Trust route including secondary acquisition of shares by the Trust
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.29% · other public 15.91%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.45%

  8. Approval to the provision of money by the Company for purchase of its own Shares by the Trust under the ‘JSW Dulux Limited – Employee Stock Option Scheme 2026'
    Special
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.29% · other public 3.31%

    Turnout: all 84.90% · promoters 100.00% · institutions 78.82% · other public 0.45%

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.

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 20 Sep 2026, 9 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To approve sub-division/split of the face value of the equity shares of the Company
    9 for0 against
  • To approve alteration of Capital Clause of the Memorandum of Association of the Company
    9 for0 against
  • To approve alteration of Capital Clause of the Articles of Association of the Company
    9 for0 against

Mutual fund votes, meeting of 10 Jul 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)

  • 1 - Adoption of audited financial statements (standalone and consolidated) for the year ended 31st March 2026 and the Reports of the Directors and Auditors thereon.
    10 for0 against
  • 2 - To confirm Interim Dividend of Rs. 156 per equity share, as declared and paid, and to declare Final Dividend of Rs. 50 per equity share of the Company for the Financial Year ended 31st March 2026.
    10 for0 against
  • 3 - Re appointment of Mr. Krishna Rallapalli (DIN 03384607) as a Director who retires by rotation and offers himself for re appointment.
    10 for0 against
  • 4 - Re appointment of Mr. Rohit Ghanshyamdas Totla (DIN 10391749) as a Director who retires by rotation and offers himself for re appointment.
    10 for0 against
  • 5 - Appointment of M/s. Deloitte Haskins and Sells LLP, Chartered Accountants as the Statutory Auditor of the Company for five years, i.e., FY 2026-27 to FY 2030-31
    10 for0 against
  • 6 - Ratification of remuneration to Cost Auditors (M/s. Chandra Wadhwa and Co., Cost Accountants) for FY 2026-27
    10 for0 against
6 earlier meetings

Mutual fund votes, meeting of 26 Apr 2026, 21 fund houses

  • Appointment of Mr. Kaustubh Sudhakar Kulkarni (DIN: 08246083) as a Non-Executive Non-Independent Director of the Company
    21 for0 against
  • Appointment of Ms. Sutapa Banerjee (DIN 02844650) as an Independent Director of the Company
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual FundGovernance concern: Prolonged association with the Group.
    • Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundComplaint with law. Governance concern: Prolonged association- Ms. Sutapa Banerjee has been associated with the JSW Group for more than 10 years. An independent director having such prolonged association does not align with good governance principles.
    • Baroda BNP Paribas Mutual FundSutapa Banerjee, 61, has over 30 years of experience in financial services. The director has been an Independent Director (ID) at JSW holdings for 10 years, with tenure ending in 2024. The director is currently serving as an ID at JSW Cements, and has been an ID since 2016. Though the director's appointment meets statutory requirements, the director's lengthy association with the group precludes the director from being independent. Due to prolonged association with the group, and director not completing a three-year cooling-off period from group companies before being appointed as an ID at this company, we do not support the resolution.
    • HDFC Mutual FundMs. Sutapa Banerjee, 61, has over three decades of experience across global banking, investment management and leadership advisory. She worked in the financial services industry across two multinational banks (ANZ Grindlays and ABN AMRO), and a boutique Indian Investment bank (Ambit). She has served as a director on the board of various JSW Group companies since 2014. We will consider her overall association with the group while computing her tenure. Given her long association with the group, we do not consider her as an Independent Director. We do not support the resolution.
    • Jio BlackRock Mutual FundMs. Sutapa Banerjee, 61, has over three decades of experience across global banking, investment management and leadership advisory. She worked in the financial services industry across two multinational banks (ANZ Grindlays and ABN AMRO), and a boutique Indian Investment bank (Ambit). She has served as a director on the board of various JSW Group companies since 2014. We will consider her overall association with the group while computing her tenure. Since her association with the JSW Group has exceeded ten years, we do not consider her as an Independent Director. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Motilal Oswal Mutual FundProlonged association with the Group.
    • Nippon India Mutual FundGovernance Concern: Prolonged association- Ms. Sutapa Banerjee has been associated with the JSW Group for more than 10 years.
    • NJ Mutual FundMs. Sutapa Banerjee, 61, has over three decades of experience across global banking, investment management and leadership advisory. She worked in the financial services industry across two multinational banks (ANZ Grindlays and ABN AMRO), and a boutique Indian Investment bank (Ambit). She has served as a director on the board of various JSW Group companies since 2014. We will consider her overall association with the group while computing her tenure. Since her association with the JSW Group has exceeded ten years, we do not consider her as an Independent Director. We do not support the resolution
    7 for14 against
  • Amendment in the Articles of Association of the Company
    21 for0 against
  • Approval of 'JSW Dulux Limited – Employee Stock Option Scheme 2026'
    21 for0 against
  • Approval to the grant of employee stock options to the eligible employees of the Subsidiary company(ies) of the Company under ‘JSW Dulux Limited – Employee Stock Option Scheme 2026'
    21 for0 against
  • Approval to the grant of employee stock options to the eligible employees of the Holding Company of the Company under ‘JSW Dulux Limited – Employee Stock Option Scheme 2026'
    Against Angel One Mutual Fund, Axis Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual Fund, Axis Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundGovernance Concern: Scheme proposed to be extended to Holding Company without compelling reason and without affirmation on cost reimbursement provision.
    • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the proposal includes grant of stock options to employees of holding company without a compelling rationale.
    • Motilal Oswal Mutual FundExtension of Scheme benefits to Holding Company without compelling reason and without cost reimbursement provision
    13 for8 against
  • Approval to the implementation of ‘JSW Dulux Limited – Employee Stock Option Scheme 2026’ through Trust route including secondary acquisition of shares by the Trust
    21 for0 against
  • Approval to the provision of money by the Company for purchase of its own Shares by the Trust under the ‘JSW Dulux Limited – Employee Stock Option Scheme 2026'
    21 for0 against

Mutual fund votes, meeting of 2 Mar 2026, 22 fund houses

  • 1) Appoint Parth Jindal (DIN: 06404506) as Chairperson and Non-Executive Non-Independent Director from 9 January 2026, liable to retire by rotation.
    1 for0 against
  • 2) Appoint Shantanu Khosla (DIN: 00059877) as Independent Director for three years from 9 January 2026.
    1 for0 against
  • 3) Redesignate Rajiv Rajgopal (DIN: 06685599) as Joint Managing Director & Chief Executive Officer from 9 January 2026 till the end of his current term on 31 October 2028, liable to retire by rotation.MoreLess
    1 for0 against
  • 4) Approve change of name of the company to ‘JSW Dulux Limited’ from ‘Akzo Nobel India Limited’ and consequent alteration in the Memorandum of Association (MoA) and Articles of Association of the Company (AoA)MoreLess
    1 for0 against
  • Appoint Parth Jindal (DIN: 06404506) as Chairperson and Non-Executive Non-Independent Director from 9 January 2026, liable to retire by rotation
    3 for0 against
  • Appoint Shantanu Khosla (DIN: 00059877) as Independent Director for three years from 9 January 2026
    3 for0 against
  • Appointment of Mr. Parth Sajjan Jindal (DIN: 06404506) as a Non-Executive Non-Independent Director and Chairman of the Board of Directors of the Company.
    Against Angel One Mutual Fund, Axis Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual FundGovernance Concern: Director holds 2 full time positions in Companies not having holding-subsidiary relationship and engaged in unrelated business.
    • Axis Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundAppointment compliant with law. No concern on the merits of the director. Governance Concern: Director holds 2 full time positions in Companies not having holding-subsidiary relationship and engaged in unrelated business.
    10 for7 against
  • Appointment of Mr. Shantanu Maharaj Khosla (DIN: 00059877) as an Independent Director of the Company for a first term of continuous Three (3) years effective 9th January 2026 till 8th January 2029 (both days inclusive), not liable to retire by rotation.MoreLess
    17 for0 against
  • Approval to the change in designation of Mr. Rajiv Rajgopal (DIN: 06685599) from Chairman and Managing Director to Joint Managing Director and Chief Executive Officer of the Company effective from 9th January 2026, whose office shall be liable to retire by rotation.MoreLess
    17 for0 against
  • Approve Change in Designation of Rajiv Rajgopal from Chairman and Managing Director to Joint Managing Director & Chief Executive Officer
    1 for0 against
  • Approve change of name of the company to ‘JSW Dulux Limited’ from ‘Akzo Nobel India Limited’ and consequent alteration in the Memorandum of Association (MoA) and Articles of Association of the Company (AoA)MoreLess
    3 for0 against
  • Change Company Name and Amend Memorandum and Articles of Association
    1 for0 against
  • Elect Parth Sajjan Jindal as Director and Chairman
    1 for0 against
  • Elect Shantanu Maharaj Khosla as Director
    1 for0 against
  • Redesignate Rajiv Rajgopal (DIN: 06685599) as Joint Managing Director & Chief Executive Officer from 9 January 2026 till the end of his current term on 31 October 2028, liable to retire by rotation
    3 for0 against
  • To change the name of the Company from Akzo Nobel India Limited to JSW Dulux Limited and the consequent alteration in the Memorandum of Association and Articles of Association of the Company accordingly.MoreLess
    17 for0 against

Mutual fund votes, meeting of 4 Aug 2025, 12 fund houses

  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2025
    2 for0 against
  • Appoint A K Labh & Co. as secretarial auditors for five years from FY26 to FY30 and fix their remuneration
    2 for0 against
  • Approve A. K. Labh & Co., Company Secretaries, as Secretarial Auditors and Authorize Board to Fix Their Remuneration
    1 for0 against
  • Approve Remuneration of Cost Auditors
    1 for0 against
  • Confirm Interim Dividend and Declare Final Dividend
    1 for0 against
  • Confirm interim dividend of Rs 70.0 per share and declare final dividend of Rs. 30.0 per share for FY25
    2 for0 against
  • Ratification of remuneration of Rs. 0.66 million and reimbursement of out-of-pocket expenses payable to M/s Chandra Wadhwa and Co., Cost Accountants (Firm Registration No. 00239), as the Cost Auditor of the Company to conduct the audit of the cost records of the Company for the Financial Year 2025-26, as recommended by the Audit Committee and approved by the Board of Directors.MoreLess
    9 for0 against
  • Ratify remuneration of Rs. 0.66 mn payable to Chandra Wadhwa & Co., cost auditors for FY26
    2 for0 against
  • Reappoint Krishna Rallapalli (DIN: 03384607) as Director, liable to retire by rotation
    2 for0 against
  • Reelect Krishna Rallapalli as Director
    1 for0 against
  • To appoint a Director in place of Mr. Krishna Rallapalli (DIN 03384607) who retires by rotation and being eligible, offers himself for re-appointment.
    9 for0 against
  • To confirm Interim Dividend of Rs. 70/- per equity share as declared and paid and to declare Final Dividend of Rs. 30/- per equity share of the Company for the Financial Year ended 31st March 2025.
    9 for0 against
  • To consider appointment of M/s A. K. Labh and Co., Company Secretaries, (Unique Identification No. S1999WB026800/Firm Registration Number 1038/2020), as the Secretarial Auditor of the Company to carry out Secretarial Audit for consecutive 5 years, i.e. from the FY 2025-26 to FY 2029-30, and furnish Secretarial Audit Report on such annual remuneration plus applicable taxes (including out of pocket expenses and other reasonable expenses on actual basis) as may be determined by the Audit Committee in consultation with the aforesaid Secretarial Auditor.MoreLess
    9 for0 against
  • To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) for the Financial Year ended 31st March 2025 and the Reports of the Directors and Auditors thereon.
    9 for0 against

Mutual fund votes, meeting of 2 Apr 2025, 8 fund houses

  • Approval for entering into a Material Related Party Transaction in connection with acquisition of the intellectual property pertaining to the decorative paints business of the Company under Section 188 (1) (b) of the Companies Act, 2013 and Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for a total consideration of INR 11,520 million.MoreLess
    5 for0 against
  • Approval for entering into Material Related Party transaction with Purchaser (as defined below) for sale of International Research Centre (R and D) Business under Section 188 (1) (b) of the Companies Act, 2013 and Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for a lumpsum consideration of INR 700 million.MoreLess
    5 for0 against
  • Approval for entering into Material Related Party Transaction with Purchaser (as defined below), for sale of Powder Coatings Business under Section 188 (1) (b) of the Companies Act, 2013 and Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for a lumpsum consideration of INR 20,730 million.MoreLess
    5 for0 against
  • Approval for Slump Sale of the International Research Centre (R and D) Business under Section 180 (1) (a) of the Companies Act, 2013 and Regulation 37A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for a lumpsum consideration of INR 700 million.MoreLess
    5 for0 against
  • Approval for Slump Sale of the Powder Coatings Business under Section 180 (1) (a) of the Companies Act, 2013 and Regulation 37A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for a lumpsum consideration of INR 20,730 million.MoreLess
    5 for0 against
  • Approve Material Related Party Transaction with Purchaser for sale of International Research Centre (R&D) Business
    1 for0 against
  • Approve Material Related Party Transaction with Purchaser for sale of Powder Coatings Business
    1 for0 against
  • Approve Material Related Party Transactions in Connection with Acquisition of the Intellectual Property Pertaining to the Decorative Paints Business
    1 for0 against
  • Approve related party transaction for acquisition of the intellectual property pertaining to the decorative paints business from Akzo Nobel Coatings International B.V. (the holding company) for a consideration of Rs. 11.52 bnMoreLess
    2 for0 against
  • Approve related party transaction with an indirect wholly owned subsidiary of Akzo Nobel N.V. (the ultimate holding company) proposed to be incorporated in India for sale of the International Research Centre (R&D) business for a consideration of Rs. 0.7 bnMoreLess
    2 for0 against
  • Approve related party transaction with an indirect wholly owned subsidiary of Akzo Nobel N.V. (the ultimate holding company) proposed to be incorporated in India for sale of the powder coatings undertaking, on a slump sale basis, for a consideration of Rs. 20.73 bnMoreLess
    2 for0 against
  • Approve sale of the International Research Centre (R&D) business, on a slump sale basis, to an indirect wholly owned subsidiary of Akzo Nobel N.V. (the ultimate holding company) proposed to be incorporated in India, for a consideration of Rs. 0.7 bnMoreLess
    2 for0 against
  • Approve sale of the powder coatings undertaking, on a slump sale basis, to an indirect wholly owned subsidiary of Akzo Nobel N.V. (the ultimate holding company) proposed to be incorporated in India, for a consideration of Rs. 20.73 bnMoreLess
    2 for0 against
  • Approve Slump Sale of the International Research Centre (R&D) Business under Section 180(1)(a) of the Companies Act, 2013
    1 for0 against
  • Approve Slump Sale of the Powder Coatings Business under Section 180(1)(a) of the Companies Act, 2013
    1 for0 against

Mutual fund votes, meeting of 2 Jan 2025, 9 fund houses

  • Appoint Anil Chaudhry (DIN: 03213517) as Independent Director for three years from 22 November 2024
    2 for0 against
  • Appointment of Mr. Anil Chaudhry (DIN: 03213517) as an Independent Director of the Company for a period of 3 (Three) years effective 22nd November 2024 till 21st November 2027 (both days inclusive) and that he shall not be liable to retire by rotation.MoreLess
    6 for0 against
  • Elect Anil Chaudhry as Director
    1 for0 against

Mutual fund votes, meeting of 12 Sep 2024, 7 fund houses

  • Appoint Ms. Namrata Kaul (DIN: 00994532) as Independent Director for three years from 5 August 2024
    1 for0 against
  • Appointment of Ms. Namrata Kaul (DIN: 00994532) as an Independent Director of the Company for a period of 3 (Three) years effective 5th August 2024 till 4th August 2027 (both days inclusive) and that she shall not be liable to retire by rotation.MoreLess
    5 for0 against
  • Elect Namrata Kaul as Director
    1 for0 against

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

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyNASince 30 Jun 2026

    NA

  • Tax disputeThe Commissioner of Appeals, Telangana GST DepartmentSince 18 Oct 2024
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Our company received a demand order from Telangana GST Department on 2nd January 2024, for the period from July 2017 to March 2020 for disallowing the input tax credit under u/s 73 of CGST/SGST Act, 2017, and demanded to pay Rs.21,85,751/- (Tax - INR 19,87,047, Interest – Nil Penalty – Rs.1,98,704/-). However, we filed appeal against the order along with the supporting documents within the given time limit. The Commissioner of Appeals, Telangana GST Department reviewed our appeal and issued an appeal order dated 20th August 2024. The demand amount as per the appeal order is Rs.7,08,410 (Tax – 7,08,410, Interest – Nil and Penalty - Nil).MoreLess
  • Tax disputeTax Officer, Enforcement – 2, Ranebennur, Karnataka GST DepartmentSince 31 Dec 2024
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received a demand order for a penalty of Rs. 9,89,064/- under section 129(3) of the SGST Act/Rules, 2017. This order mentions a discrepancy in E Waybill No. 162008896389 and Invoice No. 118293 dated 24.12.2024.MoreLess
  • Tax disputeAsst. Commissioner of Central Tax, East Division-7, Bengaluru, Karnataka GST DepartmentSince 7 Jan 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Audit, Order u/s – 140 of CGST ACT, 2017 has been received mentioning disallowance of ITC for the period June 2017 aggregating to Rs. 23,77,060/- (comprising Tax: Rs. 11,88,530/- ; Penalty: Rs. 11,88,530/)MoreLess
  • Tax disputethe Commissioner (Appeals) of CGST and CEX, Belapur, Navi Mumbai,Since 15 Jan 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received a demand order from the Joint Commissioner, CGST and CEX, Raigad Commissionerate, Central Excise Department, on November 6, 2023. The order was regarding the turnover difference between our trial balance and excise returns for the fiscal years 2015-16 and 2016-17. We were asked to pay a total of Rs.32,41,768/- (Tax - INR 16,20,884, Interest – as applicable Penalty – Rs.16,20,884/-). In response, we filed an appeal against the order, along with supporting documents, within the specified time limit. However, the Commissioner (Appeals) of CGST and CEX, Belapur, Navi Mumbai, rejected our appeal and upheld the demand, as stated in the attached appeal order. The confirmed demand amount remains Rs.32,41,768/- (Tax - INR 16,20,884, Interest – as applicable Penalty – Rs.16,20,884/-). This appeal order allows for further submissions to the relevant authorities, and our company is currently preparing a response within the stipulated timeframe outlined in the appeal order.MoreLess
  • Tax disputeThe Joint Commissioner (Corporate), State Tax, Kanpur Zone 1, Kanpur, Utter Pradesh Commercial Tax DepartmentSince 31 Jan 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the Sales Tax Appeal proceedings in Utter Pradesh for the years 2012-13 & 2015-16, our company had received a notice u/s – 28 (2) (1) of the UP-VAT Act on 2nd July 2024 mentioning to deposit the tax aggregating to INR 22,26,656/- (Tax - INR 22,26,656/-, Interest – nil and Penalty - nil). However, we responded to the demand order along with the supporting documents. The Joint Commissioner (Corporate), State Tax, Kanpur Zone 1, Kanpur, Utter Pradesh Commercial Tax Department rejected our reply, and issued an order dated 14th November 2024. The demand amount as per the order is INR 22,26,656/- (Tax - INR 22,26,656/-, Interest – nil and Penalty - nil).MoreLess
  • Tax disputeThe Deputy Commissioner, Noida Sector -12, Utter Pradesh GST DepartmentSince 7 Feb 2025
    Reply has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the Sales Tax Appeal proceedings in Utter Pradesh for the years 2012-13, our company had received a notice u/s – 28 (2) (1) of the UP-VAT Act on 2nd July 2024 mentioning to deposit the tax aggregating to INR 18,73,406/- (Tax - INR 18,73,406/-, Interest and Penalty as applicable). However, we responded to the demand order along with the supporting documents. The Deputy Commissioner, Noida Sector -12, Utter Pradesh GST DepartmentMoreLess
  • Tax disputeThe Asst. Commissioner, Mohali Ward, Ropar, Punjab GST DepartmentSince 21 Feb 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received a Show Cause Notice from Punjab GST Department on 28th November 2024, for the period from April 2020 – March 2021. The notice was for disallowing the input tax credit under u/s 73 of CGST/SGST Act, 2017, and demanded to INR 1,19,72,813/- (Tax – Rs.65,11,424/- Interest -Rs.48,10,248/- and Penalty Rs.6,51,141/-). However, we responded to the notice along with the supporting documents within the given time limit. The Asst. Commissioner, Mohali Ward, Ropar, Punjab GST Department reviewed our reply and issued an order dated 20th February 2025. The demand amount as per the order is INR 66,00,529/- (Tax – 35,09,692/-, Interest – 27,39,868/- and Penalty – 3,50,969/-).MoreLess
28 more
  • Tax disputeThe Deputy. Commissioner, LGSTO LTU, Bengaluru, Karnataka GST DepartmentSince 3 Mar 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received a Show Cause Notice from Karnataka GST Department on 28th November 2024, for the period from April 2020 – March 2021. The notice was for disallowing the input tax credit under u/s 73 of CGST/SGST Act, 2017, and demanded to INR 1,75,41,188/- (Tax - INR 1,00,23,693/-, Interest – 65,15,126/- and Penalty INR 10,02,369/-). However, we responded to the notice along with the supporting documents within the given time limit. The Deputy. Commissioner, LGSTO LTU, Bengaluru, Karnataka GST Department reviewed our reply and issued an order dated 25th February 2025. The demand amount as per the order is INR 3,92,382/- (Tax - INR 2,08,886/-, Interest – 1,43,496/- and Penalty INR 40,000/-).MoreLess
  • Tax disputeThe Asst. Commissioner, LGSTO Large Taxpayers Unit, Bengaluru, Karnataka GST DepartmentSince 3 Mar 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received a Show Cause Notice from Karnataka GST Department on 26th November 2024, for the period from April 2020 – March 2021. The notice was for disallowing the input tax credit under u/s 73 of CGST/SGST Act, 2017, and demanded to INR INR 44,48,65,290/- (Tax - INR 23,94,32,341/-, Interest – 15,75,46,480/- and Penalty INR 4,78,86,468/-). However, we responded to the notice along with the supporting documents within the given time limit. The Asst. Commissioner, LGSTO Large Taxpayers Unit, Bengaluru, Karnataka GST Department reviewed our reply and issued an order dated 25th February 2025. The demand amount as per the order is INR 1,57,91,107/- (Tax - INR 82,95,827/-, Interest – 58,36,114/- and Penalty INR 16,59,166/-).MoreLess
  • Tax disputeAsst. Commissioner of State Tax, Bhubaneswar 1, Odisha GST DepartmentSince 3 Mar 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Audit, Order u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of ITC and tax due for the period from April 2020 to March 2021 aggregating to INR 69,49,990/- (Tax - INR 38,72,186/-, Interest – INR 26,90,585/- and Penalty INR 3,87,219/-)MoreLess
  • Tax disputeDeputy Commissioner of State Tax, Bandra, Mumbai, Maharashtra Commercial Tax DepartmentSince 13 Mar 2025
    Writ Petition has been filed in Mumbai High Court. We are awaiting the order.
    At the filing before: As part of the Sales Tax recovery proceedings, notice u/s – 33 of the MVAT Act 2002, has been received mentioning to pay INR 2,87,66,253/- (Tax - INR 96,51,427/-, Interest – INR 94.58,399/- and Penalty – INR 96,56,427/-) to conclude the assessment.MoreLess
  • Tax disputeAdditional Commissioner of State Tax in Patna, Bihar GST DepartmentSince 2 Jun 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received an order from the Bihar GST Department on August 23, 2024, concerning the period 2019-20. The order disallowed the input tax credit under Section 73 of the CGST/SGST Act, 2017, and demanded a payment of INR 1,33,40,144. This amount includes tax of INR 71,52,892, interest of INR 54,71,962, and a penalty of INR 7,15,289. In response, we submitted our reply along with the supporting documents within the specified timeframe. The Additional Commissioner of State Tax in Patna, Bihar GST Department, reviewed our response and issued a new order on May 31, 2025. The revised demand amount, as per this order, is INR 93,05,945, which comprises tax of INR 49,89,783, interest of INR 38,17,184, and a penalty of INR 4,98,978.MoreLess
  • Tax disputeAssistant Commissioner of Commercial Taxes, Local GST Office-038, Bangalore, Karnataka GST DepartmentSince 27 Jun 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST scrutiny, SCN u/s – 74 of CGST ACT/Rules, 2017 has been received mentioning disallowance of ITC and tax due for the period from April 2018 to March 2019 aggregating to INR 17,66,46,778/- (Tax - INR 5,65,17,926/-, Interest – 6,36,10,926/- and Penalty INR 5,65,17,926/-). we responded to the notice along with the supporting documents within the given time limit. The Assistant Commissioner of Commercial Taxes, LGSTO LTU, Large Taxpayers Unit, Bangalore, Karnataka GST Department reviewed our reply and issued an order dated 30th December 2025. The demand amount as per the order is INR 41,56,816/- (Tax - INR 12,89,949/-, Interest – INR 15,76,963/- and Penalty – INR – 12,89,949/-).MoreLess
  • Tax disputeThe Assistant Commissioner, Division-East, Gurugram, Haryana GST DepartmentSince 27 Jun 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST scrutiny, SCN u/s – 74 of CGST ACT/Rules, 2017 has been received mentioning disallowance of ITC due to ISD mismatch and tax due for the period from April 2018 to March 2019 aggregating to INR 49,73,561/- (Tax - INR 49,73,561/-, Interest – as applicable and Penalty as applicable). We responded to the notice along with the supporting documents within the given time limit. The Asst. Commissioner, Gurugram, Haryana GST Department reviewed our reply and issued an order dated 24th December 2025. The demand amount as per the order is INR 39,09,328/- (Tax - INR 19,54,664/-, Interest – as applicable and Penalty – INR 19,54,664/-).MoreLess
  • Tax disputeSuperintendent, Division -Belapur, Mumbai, Maharashtra GST DepartmentSince 1 Jul 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST scrutiny, SCN u/s – 74 of CGST ACT/Rules, 2017 has been received mentioning issuance of duplicate E-way Bill against the same invoice number for the period from April 2018 to March 2019 aggregating to INR 2,25,604/- (Tax - INR 2,25,604/-, Interest – as applicable and Penalty as applicable). We responded to the notice along with the supporting documents within the given time limit. The Superintendent, Belapur, Maharashtra GST Department reviewed our reply and issued an order dated 9th December 2025. The demand amount as per the order is INR 4,51,208/- (Tax - INR 2,25,604/-, Interest – as applicable and Penalty - INR 2,25,604/-).MoreLess
  • Tax disputeJoint Commissioner Corporate Circle, Commercial Tax, Zone – 1, Kanpur, Utter Pradesh Commercial Tax DepartmentSince 25 Jul 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the sales tax appeal proceedings, demand order u/s 31 of UP VAT Act has been received mentioning tax due for the period from April 2013 to March 2014 aggregating to INR 12,77,193/- (Tax - INR 12,77,193/-, Interest – as applicable and Penalty as applicable)MoreLess
  • Tax disputeThe Commissioner (Appeals-1) of the Chennai, Tamil Nadu GST DepartmentSince 6 Aug 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received an order from the Tamil Nadu GST Department on December 29, 2023, regarding the period 2017-2020. The order disallowed input tax credit under Section 73 of the CGST/SGST Act, 2017, and demanded a payment of INR 6,17,39,762. This total includes a tax amount of INR 5,72,02,729, applicable interest, and a penalty of INR 45,37,033. In response, we submitted our reply along with supporting documents within the specified timeframe. The Commissioner (Appeals-1) of the Chennai, Tamil Nadu GST Department reviewed our response and issued an appeal order on August 6, 2025. According to this order, the revised demand amount is INR 2,59,58,119, which consists of a tax amount of INR 2,37,07,258, applicable interest, and a penalty of INR 22,50,861.MoreLess
  • Tax disputeThe Joint Commissioner of CGST and CEX in Belapur, Navi MumbaiSince 29 Aug 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Received Show Cause Notices dated January 3, 2014, and August 21, 2024, from the Service Tax Department in Mumbai, covering the period from December 2008 to June 2014. The Show Cause Notices disallowed the Cenvat credit of service tax on GTA (Goods Transport Agency) services on ISD (Input Service Distributor) invoices under Rule 7 of the Cenvat Credit Rules 2004 and demanded a payment of INR 60,05,712. This amount comprises a tax amount of INR 30,02,856, applicable interest, and a penalty of INR 30,02,856. In response, we submitted our reply along with supporting documents within the specified timeframe. The Joint Commissioner of CGST and CEX in Belapur, Navi Mumbai, issued a demand order on July 31, 2025. According to this order, the demand amount is INR 48,56,426, which includes a tax amount of INR 24,28,183, applicable interest, and a penalty of INR 24,28,183.MoreLess
  • Tax disputeDeputy Commissioner of State Tax, Patna Special Circle, Bihar GST DepartmentSince 10 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Audit, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of input tax credit for the period from April 2021 to March 2022 aggregating to INR 23,03,936/- (Tax - INR 13,15,750/-, Interest – INR 8,01,418 and Penalty INR 1,86,768/-). We responded to the notice along with the supporting documents within the given time limit. The Deputy Commissioner of State, Patna, Bihar GST Department reviewed our reply and issued an order dated 26th December 2025. The demand amount as per the order is INR 2,29,984/- (Tax - INR 1,20,846/-, Interest – INR 79,138/- and Penalty – INR 30,000/-).MoreLess
  • Tax disputeJoint Commissioner of State Tax, Patna Special Circle, Bihar GST DepartmentSince 24 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Audit, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax credit for the period from April 2021 to March 2022 aggregating to INR 8,22,423/- (Tax - INR 4,79,547/-, Interest – INR 2,94,922/- and Penalty INR 47,954/-). We responded to the notice along with the supporting documents within the given time limit. The Joint Commissioner of State Tax, Patna Special Circle, Bihar GST Department reviewed our reply and issued an order dated 26th December 2025. The demand amount as per the order is INR 8,29,615/- (Tax - INR 4,79,547/-, Interest – INR 3,02,114/- and Penalty INR 47,954/-).MoreLess
  • Tax disputeAsst. Commissioner, Kakkanad Division, Kochi, Kerala GST DepartementSince 26 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 32,42,892/- (Tax - INR 32,42,892/-, Interest – as applicable and Penalty as applicable). We responded to the notice along with the supporting documents within the given time limit. The Asst. Commissioner, Kochi, Kerala GST Department reviewed our reply and issued an order dated 12th December 2025. The demand amount as per the order is INR 22,25,997/- (Tax - INR 20,34,736/-, Interest – as applicable and Penalty - INR 1,91,261/-).MoreLess
  • Tax disputeAsst. Commissioner, Kukatapally CGST Division, Hyderabad, Telangana GST DepartementSince 30 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 40,85,606/- (Tax - INR 40,85,606/-, Interest – as applicable and Penalty as applicable). We responded to the notice along with the supporting documents within the given time limit. The Asst. Commissioner, Kukatpally CGST Division, Hyderabad, Telangana GST Department reviewed our reply and issued an order dated 29th December 2025. The demand amount as per the order is INR 44,98,182/- (Tax - INR 40,85,606/-, Interest – Nil and Penalty – INR – 4,12,576/-).MoreLess
  • Tax disputeDeputy Commissioner, Large Taxpayers Unit - LTU Karnataka GST DepartmentSince 30 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 14,96,19,736/- (Tax - INR 9,17,69,407/-, Interest – INR 5,78,50,329/- and Penalty - as applicable). We responded to the notice along with the supporting documents within the given time limit. The Deputy Commissioner, Large Taxpayers Unit – LTU, Karnataka GST Department reviewed our reply and issued an order dated 29th December 2025. The demand amount as per the order is INR 2,45,61,915/- (Tax - INR 1,38,13,025/-, Interest – INR 93,67,588/- and Penalty – INR – 13,81,302/-).MoreLess
  • Tax disputeDeputy Commissioner, Large Taxpayers Unit - LTU Karnataka GST DepartmentSince 30 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 99,93,584/- (Tax - INR 61,31,033/-, Interest – INR 38,62,551/- and Penalty - as applicable). We responded to the notice along with the supporting documents within the given time limit. The Deputy. Commissioner, Large Taxpayers Unit-LTU Karnataka GST Department reviewed our reply and issued an order dated 1st December 2025. The demand amount as per the order is INR 5,04,712/- (Tax - INR 2,86,768/-, Interest – 1,89,267/- and Penalty – 28,677/-).MoreLess
  • Tax disputeExcise and Taxation Officer Cum State Tax Officer, Mohali, Punjab GST DepartmentSince 30 Sep 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 1,32,36,899/- (Tax - INR 78,01,081/-, Interest – INR 54,35,818/- and Penalty - as applicable). We responded to the notice along with the supporting documents within the given time limit. Excise and Taxation Officer Cum State Tax Officer, Mohali, Punjab GST Department reviewed our reply and issued an order dated 29th December 2025. The demand amount as per the order is INR 15,77,571/- (Tax - INR 8,98,189/-, Interest – INR 6,79,382/- and Penalty – as applicable).MoreLess
  • Tax disputeDeputy Commissioner (ST)-IV, Large Taxpayers Unit, Chennai, Tamil Nadu GST DepartmentSince 30 Sep 2025
    Reply has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 74 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2019 to March 2020 aggregating to INR 4,19,14,441/- (Tax - INR 1,40,61,102/-, Interest – INR 1,37,92,207/- and Penalty – INR 1,40,61,102/- as applicable)MoreLess
  • Tax disputeSuperintend, Changodar, Ahmedabad, Gujarat GST DepartmentSince 3 Oct 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 7,84,099/- (Tax - INR 7,84,099/-, Interest – as applicable and Penalty - as applicable). We responded to the notice along with the supporting documents within the given time limit. The Superintend, Changodar, Ahmedabad, Gujarat GST Department reviewed our reply and issued an order dated 31st December 2025. The demand amount as per the order is INR 8,82,508/- (Tax - INR 7,84,099/-, Interest – as applicable and Penalty - INR – 98,409).MoreLess
  • Tax disputeSenior Joint Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal GST DepartmentSince 23 Oct 2025
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, SCN u/s – 73 of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2021 to March 2022 aggregating to INR 62,75,220/- (Tax - INR 36,53,855/-, Interest – INR 22,55,980/- and Penalty – INR 3,65,385/-). We responded to the notice along with the supporting documents within the given time limit. Senior Joint Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal GST Department reviewed our reply and issued an order dated 19th December 2025. The demand amount as per the order is INR 67,32,604/- (Tax - INR 36,53,855/-, Interest – INR 27,13,363/- and Penalty – INR 3,65,386/-).MoreLess
  • Tax disputeDeputy State Tax Officer, Vellore, Roving Squad. Tamil Nadu GST DepartmentSince 22 Dec 2025
    Reply has been filed and we are awaiting the Appeal order.
    At the filing before: During the physical verification of transport documents, a notice under Section 68 of the CGST Act/Rules, 2017 was received. The notice highlights a defect in the transport documents aggregating to INR 5,19,840/- (Tax - Nil, Interest – Nil and Penalty – INR 5,19,840/-)MoreLess
  • Tax disputeAssessment Unit, Income-tax Department, National Faceless Assessment Center (NFAC)Since 28 Oct 2024
    The matter has been pending before the ITAT.
    At the filing before: For AY 2021-2022 the company has received the final assessment order u/s 143(3) read with section 144C(13) and section 144B of the Income-tax Act, 1961 dtd. 28th October 2024 passed by NFAC. Against the said order, company has filed an appeal before the ITAT on 13th December 2024.MoreLess
  • Tax disputeAsst. Commissioner, Kukatapally CGST Division, Hyderabad, Telangana GST DepartementSince 13 Mar 2026
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Company received an order from the Telangana GST Department on 3rd September 2024, for the period 2020-21 & 2021-22. The order disallowed input tax credit under Section 73 of the CGST/SGST Act, 2017, and demanded a payment of Rs.1,50,72,533/- (Tax - INR 1,36,31,472/-, Interest – INR 1728/- and Penalty INR - 14,39,333/-). The Additional Commissioner (Appeals-II) Hyderabad, Telangana GST Department reviewed our response and issued an appeal order on February 26, 2026. According to this order, the revised demand amount is Rs.1,50,31,077/-(Tax 1,36,29,593/- Interest – as applicable & penalty 14,01,484/-).MoreLess
  • Tax disputeThe Asst. Commissioner, LGSTO Large Taxpayers Unit, Bengaluru, Karnataka GST DepartmentSince 21 Apr 2026
    An appeal has been filed and we are awaiting the Appeal order.
    At the filing before: Company received a Show Cause Notice from Karnataka GST Department on 1st June 2024, for the period from April 2019 – March 2020. The notice was for the disallowance of input tax credit under u/s 74 of CGST/SGST Act, 2017 and demanded to INR 101,09,35,870/- (Tax - INR 36,87,92,445/-, Interest – 27,33,50,980 and Penalty INR – 36,87,92,445/-. We responded to the notice along with the supporting documents within the given time limit. The Asst. Commissioner of Commercial Taxes, Local GST Office, Karnataka GST Department reviewed our reply and issued an order dated 31st March 2026. The demand amount as per the order is INR 14,75,83,468/- (Tax - INR 4,80,57,137/-, Interest – INR 5,14,69,194/- and Penalty INR 4,80,57,137/-)MoreLess
  • Tax disputeDeputy Commissioner(ST), Special Circle, Vijayawada, Andhra Pradesh GST DepartmentSince 2 Jun 2026
    Reply has been filed and we are awaiting the Appeal order.
    At the filing before: As part of the GST Scrutiny, Show Cause Notice u/s – 74A of CGST ACT/Rules, 2017 has been received mentioning disallowance of Input Tax Credit for the period from April 2024 to March 2025 aggregating to INR 35,23,418/- (Tax - INR 35,23,418/-, Interest – as applicable and Penalty – as applicable)MoreLess
  • Tax disputeAssessment Unit, Income-tax Department, National Faceless Assessment Center (NFAC)Since 28 Oct 2024
    The matter has been pending before the ITAT.
    At the filing before: Further to the Draft Assessment Order dated December 22, 2023, the Company has received the Final Assessment Order for Assessment Year 2021-22 dated October 28, 2024, passed under Sections 143(3) read with Sections 144C(13) and 144B of the Income-tax Act, 1961 by the National Faceless Assessment Centre (NFAC), raising a tax demand of INR 37,72,08,360. The Company has challenged the aforesaid order by filing an appeal before the Income Tax Appellate Tribunal (ITAT) on December 13, 2024. The matter is currently pending adjudication.MoreLess
  • Tax disputeAssessment Unit, Income-tax Department, National Faceless Assessment Center (NFAC)Since 8 Mar 2026
    Company has filed an appeal before Hon’ble CIT(A) national faceless appeal centre aginst order dated 11th May 2026 and the matter has been pending before the adjudicating the authority
    At the filing before: Further to the Draft Assessment Order dated March 8, 2026, the Company has received the Final Assessment Order for Assessment Year 2023-24 dated May 11, 2026, passed under Sections 143(3) read with Sections 144C(13) and 144B of the Income-tax Act, 1961 by the National Faceless Assessment Centre (NFAC), along with a Demand Notice issued under Section 156 of the Income-tax Act, 1961, raising a tax demand of INR 36,46,50,330. The Company has challenged the aforesaid order by filing an appeal before the Hon’ble CIT(A) on . The matter is currently pending adjudication.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 4 complaints open, quarter to Sep 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
Yes
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.