Kovai Medical Center & Hospital logo

Kovai Medical Center & Hospital MD, chairman, board of directors and AGM

NSE: KOVAIBSE: 523323Healthcare ServicesSmall Cap

Last close ₹5,757.50down ₹49.00 (0.84%)BSE ₹5,737.95

Share price at the NSE close on 23 Oct 2026. Previous close ₹5,806.50.

52-week range of BSE trades to 23 Oct 2026
₹5,010.00Low, 30 Mar 2026₹6,725.00High, 27 Oct 2025
Market cap
₹6,300 Cr728th largest listed
P/E
24.6
P/B
4.8
Dividend yield
0.26%
ROE
21.3%
ROCE
20.3%
Debt to equity
0.28
Volume, NSE
9,44061.4% delivered

Kovai Medical Center & Hospital board of directors

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

  • Managing directorNALLAGOUNDER PALANISWAMI
  • Managing directorARUN NALLAGOUNDER PALANISWAMI
  • Company Secretary and Compliance OfficerR PONMANIKANDAN

12 directors7 independent2 executive3 non-executive

  • NALLAGOUNDER PALANISWAMI · Managing directorExecutive · joined Oct 1989 · reappointed Oct 2024 · 1 listed board · 1 committee seat
  • ARUN NALLAGOUNDER PALANISWAMI · Managing directorExecutive · joined Sep 2015 · reappointed Sep 2023 · 1 listed board · 1 committee seat
  • MOHAN S GOUNDERNon-executive · joined Jul 2004 · reappointed Aug 2024 · 1 listed board
  • THIRUMOORTHI M CNon-executive · joined Sep 1985 · reappointed Aug 2026 · 1 listed board
  • PURANI P PALANISWAMINon-executive · joined Sep 2014 · reappointed Aug 2025 · 1 listed board
  • VIDYASANKAR BHUVANESHWARIIndependent · joined Sep 2019 · reappointed Sep 2024 · 82 months as independent · 3 listed boards · 3 as independent · 2 committee seats
  • AMMASAIKUTTIIndependent · joined Jun 2021 · reappointed Jun 2026 · 61 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • KARUMANAGOUNDER KOLANDA SWAMYIndependent · joined Aug 2021 · reappointed Aug 2026 · 59 months as independent · 1 listed board · 1 as independent
  • RATHINASAMY MUTHUSAMYIndependent · joined Jan 2024 · 33 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 2 as chair
  • VASANTH KUMAR VENKATASAMYIndependent · joined Sep 2024 · 25 months as independent · 1 listed board · 1 as independent
  • BALASUBRAMANIAM MAHALINGAMIndependent · joined Sep 2024 · 25 months as independent · 3 listed boards · 1 as independent · 3 committee seats
  • MARAPPA GOUNDER ALAGIRISWAMYIndependent · joined Sep 2024 · 25 months as independent · 2 listed boards · 2 as independent · 4 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
  • THAVAMANI DEVI PALANISWAMI, left 6 Jun 2026: Others

Committees and meetings

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

  • Board

    • 7 Aug 202611 of 12 present6 independent · 76 days in between
    • 22 May 202613 of 13 present7 independent · 10 days in between
    • 11 May 20269 of 13 present6 independent

  • Audit Committee

    Chair MARAPPA GOUNDER ALAGIRISWAMY

    VIDYASANKAR BHUVANESHWARI, AMMASAIKUTTI, RATHINASAMY MUTHUSAMY

    • 7 Aug 20264 of 4 present4 independent · 76 days in between
    • 22 May 20264 of 4 present4 independent · 10 days in between
    • 11 May 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair VIDYASANKAR BHUVANESHWARI

    AMMASAIKUTTI, RATHINASAMY MUTHUSAMY, MARAPPA GOUNDER ALAGIRISWAMY

    • 7 Aug 20264 of 4 present4 independent · 76 days in between
    • 22 May 20264 of 4 present4 independent

  • Stakeholders Relationship Committee

    Chair MARAPPA GOUNDER ALAGIRISWAMY

    NALLAGOUNDER PALANISWAMI, AMMASAIKUTTI, ARUN NALLAGOUNDER PALANISWAMI, RATHINASAMY MUTHUSAMY

    • 30 Sep 20265 of 5 present3 independent · 14 days in between
    • 15 Sep 20265 of 5 present3 independent · 16 days in between
    • 29 Aug 20265 of 5 present3 independent · 14 days in between
    • 14 Aug 20265 of 5 present3 independent · 29 days in between
    4 earlier meetings
    • 15 Jul 20265 of 5 present3 independent · 45 days in between
    • 30 May 20265 of 5 present3 independent · 14 days in between
    • 15 May 20265 of 5 present3 independent · 14 days in between
    • 30 Apr 20265 of 5 present3 independent

  • Risk Management Committee

    Chair NALLAGOUNDER PALANISWAMI

    ARUN NALLAGOUNDER PALANISWAMI, PANKAJAM KOCHUKRISHNAN GOPIKRISHNAN, MARAPPA GOUNDER ALAGIRISWAMY

    • 7 Aug 20264 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair NALLAGOUNDER PALANISWAMI

    ARUN NALLAGOUNDER PALANISWAMI, VIDYASANKAR BHUVANESHWARI, AMMASAIKUTTI, RATHINASAMY MUTHUSAMY

    • 7 Aug 20264 of 4 present3 independent · 76 days in between
    • 22 May 20264 of 5 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 Jun 2026.

  • VKS Aiyer & CoPeer-review certificate valid to Jul 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Kovai Medical Center & Hospital 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.Kovai Medical Center & Hospital dividend history

Postal ballot, 19 Sep 2026

20,027 shareholders on the register on 14 Aug 2026; votes counted by MD SELVARAJ / MDS & ASSOCIATES LLP.The company's voting result (opens in a new tab)

  1. Approval of the re-designation of Dr. Arun N Palaniswami (DIN: 02706099), Executive Director, as the Joint Managing Director of the Company for the remaining period of his current tenure effective from 7th August, 2026 and the remuneration payable to him with effect from the said dateMoreLess
    SpecialPromoters have an interest in it
    96.03% for3.97% against

    Against: promoters 0.00% · institutions 59.32% · other public 0.30%

    Turnout: all 62.04% · promoters 99.68% · institutions 76.32% · other public 4.07%

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, 26 Aug 2026, 4 resolutions

20,524 shareholders on the register on 19 Aug 2026; present: 8 promoters and 56 others; votes counted by Kulandapayyan Duraisami / NA.The company's voting result (opens in a new tab)

  1. Adoption of Audited Annual Financial Statements
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.26% · promoters 99.68% · institutions 89.19% · other public 3.05%

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

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

    Turnout: all 61.28% · promoters 99.68% · institutions 89.82% · other public 3.05%

  3. Appointment of Dr.M.C.Thirumoorthi as a director, liable to retire by rotation
    SpecialPromoters have an interest in it
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.96% · other public 0.05%

    Turnout: all 61.28% · promoters 99.68% · institutions 89.82% · other public 3.05%

  4. Re appointment of Cost Auditor for the Company and ratification of their remuneration
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.28% · promoters 99.68% · institutions 89.82% · other public 3.05%

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

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 19 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Approval of the re-designation of Dr. Arun N Palaniswami (DIN: 02706099), Executive Director, as the Joint Managing Director of the Company for the remaining period of his current tenure effective from 7th August, 2026 and the remuneration payable to him with effect from the said dateMoreLess
    Against DSP Mutual Fund, Sundaram Mutual Fund
    • DSP Mutual FundDr. Arun N. Palaniswami is proposed to be redesignated as Joint Managing Director following the demise of his mother, Dr. Thavamani Devi Palaniswami. He is part of the promoter family and has been associated with Kovai Medical Center and Hospital since FY15, following nine years of medical practice in the USA. Dr. Arun has been instrumental in driving Kovai’s growth and expansion and is closely involved in the day-to-day operations of the business. Given Kovai’s plans to significantly expand its hospital network and operational capacity over the next few years, his hands-on involvement and understanding of the business will be important in executing this expansion successfully. With Dr. Nalla G. Palaniswami, the first-generation promoter, being 85 years old and following the unfortunate demise of Dr. Thavamani Devi Palaniswami, Dr. Arun’s elevation also assumes greater importance from a succession-planning and leadership-continuity perspective. As the only executive promoter on the Board apart from Dr. Nalla G. Palaniswami, his continued involvement provides greater stability as the company enters its next phase of growth. While the proposed remuneration structure, including the 2% commission on net profits and medical reimbursements, is relatively open-ended, we believe the strategic importance of his continued involvement outweighs these concerns. Given his hands-on role, promoter background and the scale of Kovai’s planned expansion, we consider the proposed remuneration reasonable. We therefore support the resolution in good faith.
    • Sundaram Mutual FundDr. Arun N Palaniswami, 47, is part of the promoter family and is the son of promoters Dr. Nalla G Palaniswami (MD) and late Dr. (Ms.) Thavamani Devi Palaniswami. He practiced medicine in the USA for nine years before joining Kovai Medical Center and Hospital Limited in FY15. He attended all five board meetings held in FY26. Following the demise of his mother, Dr. (Ms.) Thavamani Devi Palaniswami, Joint MD, the company has proposed to redesignate him as Joint MD for the remaining period of his current tenure. He was paid annual remuneration of Rs. 46.9 mn in FY26. Based on the proposed terms, we estimate his annual remuneration at Rs. 90.7 mn, which is relatively high. Further, the proposed remuneration structure is open-ended and entitles him to a flat commission of 2% of net profits. As the company grows, this could result in significant increases in remuneration. The company should cap the commission in absolute terms and disclose performance metrics governing his variable pay. He is also entitled to uncapped medical expenses: we believe directors should bear their personal expenses, while the company may consider providing medical coverage through health insurance. We recognize that Dr. Arun N. Palaniswami is the only executive promoter on the board apart from the first-generation promoter, Dr. Nalla G. Palaniswami (85). We support his redesignation, given its relevance to succession planning and continuity of leadership. However, we do not support the open-ended remuneration structure and uncapped medical expenses. Hence, we do not support the resolution.
    0 for2 against

Mutual fund votes, meeting of 26 Aug 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

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

  • Adoption of Audited Annual Financial Statements
    2 for0 against
  • Declaration of Dividend
    2 for0 against
  • Appointment of Dr.M.C.Thirumoorthi as a director, liable to retire by rotation
    2 for0 against
1 proposal not matched to one resolution
  • Ratify remuneration of Rs. 650,000 to V. Sakthivel (Partner at RKMS & Associates) as cost auditor for FY27
    2 for0 against
6 earlier meetings

Mutual fund votes, meeting of 11 Apr 2026, 6 fund houses

  • Reappoint A. P. Ammasaikutti (DIN: 00909930) as Independent Director for five years from 3 June 2026 and approve his continuation beyond the age of 75 years
    2 for0 against
  • Reappoint Dr. K. Kolandaswamy (DIN: 06702305) as Independent Director for five years from 1 August 2026
    2 for0 against
  • Reappointment of Dr. K.Kolandaswamy (DIN: 06702305) as an Independent Non-Executive Director of the Company, not liable to retire by rotation, to hold office for a second term of five consecutive years with effect from 1st August ,2026 to 31st July, 2031.MoreLess
    4 for0 against
  • Reappointment of Mr. A.P.Ammasaikutti (DIN: 00909930) as an Independent Non-Executive Director of the Company, not liable to retire by rotation, to hold office for a second term of five consecutive years with effect from 3rd June, 2026 to 2nd June, 2031.MoreLess
    4 for0 against

Mutual fund votes, meeting of 22 Aug 2025, 5 fund houses

  • 1.Adoption of Audited Financial Statements
    1 for0 against
  • 2. Declaration of Dividend
    1 for0 against
  • 3. Appointment of Dr. Purani P Palaniswami as a director, liable to retire by rotation
    1 for0 against
  • 4. Re-appointment of Dr. Thavamani Devi Palaniswami as Joint Managing Director of the Company and approval of Remuneration payable to her
    1 for0 against
  • 5. Reappointment of cost auditor for the company and fixing their remuneration.
    1 for0 against
  • 6. Appointment of secretarial auditor for the company and fixing their remuneration
    1 for0 against
  • 7. Approval for borrowing in excess of the paid -up-capital and free reserves of the company
    1 for0 against
  • 8. Approval for creation of charge mortgage etc on companys movable immovable properties
    1 for0 against
  • Adoption of financial statements for the year ended 31 March 2025
    1 for0 against
  • Appoint KSR and Co. as secretarial auditors for five years from FY26 and fix their remuneration
    1 for0 against
  • Appointment of M/s. KSR and Co. Company Secretaries LLP, Coimbatore as the Secretarial Auditor of the company for a period of 5 years from financial Year 2025-26 to 2030-2031 to conduct the Secretarial Audit of the Company on a remuneration decided by the Board of Directors from time to time.MoreLess
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with Regulation 36(5) of SEBI LODR: Basis of recommendation of appointment/ Credentials and Proposed audit fee payable to Secretarial Auditors not disclosed.
    1 for2 against
  • Approve creation of charge on company’s assets for borrowings upto Rs. 25.0 bn
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundSecured loans have easier repayment terms, less restrictive covenants, and marginally lower interest rates. However, the current resolution allows the company to create charges even for borrowings availed by third parties. Thus, we do not support the resolution.
    0 for1 against
  • Approve increase in borrowing limit to Rs. 25.0 bn from Rs. 10.0 bn
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundAs on 31 March 2025, the company’s total borrowings stood at Rs. 3.8 bn, translating to a debt to equity ratio of 0.4x, which is reasonable. Shareholders had last approved a borrowing limit of Rs. 10.0 bn in 2014, of which only about 38% has been utilised. The company’s debt programmes are rated CRISIL AA-/Stable/CRISIL A1+, denoting a high degree of safety regarding timely servicing of debt obligations. The company now seeks to increase the borrowing limit to Rs. 25.0 bn, which is 2.5 times the current limit. While the company has expansion plans, the credit rating rationale suggests that internal accruals would be sufficient to fund the planned capital expenditure. Given the low current debt levels and historically judicious use of borrowings, such a steep increase in the borrowing limit appears enabling in nature. In the absence of a detailed funding roadmap, we do not support the resolution.
    0 for1 against
  • Declare final dividend of Rs. 10.0 per equity share (face value of Rs. 10.0) for FY25
    1 for0 against
  • Ratification of remuneration of Rs. 6,00,000/- Plus GST and out-of-pocket expenses if any for the purpose of audit payable to Mr. V. Sakthivel (Membership No.23292) Partner, M/s RKMS and Associates Cost Accountants, Coimbatore is appointed by the Board of Directors of the company on recommendation of Audit Committee to Conduct the Audit of cost records of the Company for the financial year 2025-26.MoreLess
    3 for0 against
  • Ratify remuneration of Rs. 600,000 to V. Sakthivel (Partner at RKMS & Associates) as cost auditor for FY26
    1 for0 against
  • Re-appointment of Dr. Thavamani Devi Palaniswami (DIN: 00012135) as Joint Managing Director of the Company for a period of five years with effect from 29th July, 2025 and approval of Remuneration payable to her.MoreLess
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with SEBI LODR Regulations: Prior shareholder approval not obtained for continuation beyond 70 years. Governance concern: No absolute cap on variable pay or total remuneration; two full time positions; Similar commission to two promoter EDs for more than last three years.
    1 for2 against
  • Reappoint Dr. (Ms.) Purani P Palaniswami (DIN: 02707233) as Non-Executive Non-Independent Director, liable to retire by rotation
    1 for0 against
  • Reappoint Dr. (Ms.) Thavamani Devi Palaniswami (DIN: 00012135) as Joint Managing Director for five years from 29 July 2025 and fix her remuneration in excess of regulatory thresholds
    1 for0 against
  • To appoint a director in place of Dr. Purani P Palaniswami (DIN: 02707233), who retires by rotation and being eligible, offers herself for re-appointment.
    3 for0 against
  • To borrow any sum or sums of money including in the form of inter corporate deposit, debentures, loans- short term or long term, line of credits/ overdrafts, etc. from time to time at its discretion, for the purpose of the business of the company, from any one or more banks, financial institutions and other Persons, Firms, Body Corporates, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from Company’s Bankers in the ordinary course of business) may, at any time, exceed the aggregate of the paid-up share capital of the Company and its free reserves (that is to say reserves not set apart from any specific purpose), subject to such aggregate borrowings not exceeding the amount which is Rs. 2500 crore only.MoreLess
    3 for0 against
  • To declare dividend on equity shares for the financial year ended 31st March, 2025.
    3 for0 against
  • To mortgage, pledge, charge, hypothecate and/ or create security interest of every nature and kind whatsoever as may be necessary on such of the movable or immovable assets and properties of the Company wherever situated, both present and future, including where such assets and properties constitute the whole or substantially the whole of the undertaking of the Company, in such manner as the Board / Committee of the Board may direct, to or in favour of financial institutions, investment institutions and their subsidiaries, banks, mutual funds, trusteeship companies, trusts, and other bodies corporate to secure the due payment of the principal together with interest, premium on pre-payment or on redemption, costs, charges, expenses and all other monies payable by the Company or any third party in respect of borrowings availed of from such Lending Agencies of an outstanding aggregate value not exceeding Rs. 2500 Crore only.MoreLess
    3 for0 against
  • To receive, consider and adopt the audited financial statements of the Company for the financial year ended 31st March, 2025 and the Reports of the Directors and the Auditor thereon.
    3 for0 against

Mutual fund votes, meeting of 19 Oct 2024, 6 fund houses

  • 1. Appointment of Mr.M.Balasubramaniam(DIN:00377053) as an Independent Director of the Company 2. Appointment of Mr.M.Alagiriswamy (DIN: 02112350)as an Independent Director of the Company
    1 for0 against
  • Appoint M. Alagiriswamy (DIN: 02112350) as Independent Director for five years from 3 September 2024 and approve continuation of his directorship after he attains the age of 75
    Against DSP Mutual Fund, Sundaram Mutual Fund
    • DSP Mutual FundM. Alagiriswamy, 72, is a practicing chartered accountant and tax consultant since 1978. He has experience in auditing educational institutions, hospitals and industries in and around Coimbatore. He will attain the age of 75 during his proposed tenure of five years and thus, shareholder approval is also sought for continuation of his directorship in line with regulations. Public sources suggest that he is associated with various charitable trusts and educational institutions as trustee, treasurer, etc. We note that A. M. Palanisamy served as director on the board of Kovai Medical Center & Hospital Ltd. (Kovai Medical) for 34 years from 17 January 1990 till 2 September 2024. Public sources suggest that M. Alagiriswamy and A. M. Palanisamy are children of A. V. Marappa Gounder which indicates that they are brothers. M. Alagiriswamy joined the board of Kovai Medical on 3 September 2024, a day after A. M. Palanisamy ceased to be on the board due to completion of his tenure. Outside of family linkages, the Nomination and Remuneration Committee (NRC) must disclose the basis of his selection on the board. While he may be an accomplished individual in his own right, we do not support his appointment as Independent Director owing to the long-term family linkage.
    • Sundaram Mutual Fund"M. Alagiriswamy, 72, is a practicing chartered accountant and tax consultant since 1978. He has experience in auditing educational institutions, hospitals and industries in and around Coimbatore. He will attain the age of 75 during his proposed tenure of five years and thus, shareholder approval is also sought for continuation of his directorship in line with regulations. Public sources suggest that he is associated with various charitable trusts and educational institutions as trustee, treasurer, etc. We note that A. M. Palanisamy served as director on the board of Kovai Medical Center & Hospital Ltd. (Kovai Medical) for 34 years from 17 January 1990 till 2 September 2024. Public sources suggest that M. Alagiriswamy and A. M. Palanisamy are children of A. V. Marappa Gounder which indicates that they are brothers. M. Alagiriswamy joined the board of Kovai Medical on 3 September 2024, a day after A. M. Palanisamy ceased to be on the board due to completion of his tenure. Outside of family linkages, the Nomination and Remuneration Committee (NRC) must disclose the basis of his selection on the board. While he may be an accomplished individual in his own right, we do not support his appointment as Independent Director owing to the long-term family linkage."
    0 for2 against
  • Appoint M. Balasubramaniam (DIN: 00377053) as Independent Director for five years from 3 September 2024
    Against DSP Mutual Fund, Sundaram Mutual Fund
    • DSP Mutual FundM. Balasubramaniam, 66, is part of the promoter family of the Sakthi group. The notice states that he has 39 years of experience in finance, auto and sugar industries. The company should have provided granular clarity with respect to his work experience while seeking shareholder approval for his appointment. Public sources suggest that he serves as Managing Director of Sakthi Sugars Limited and as Vice-Chairperson and Managing Director of Sakthi Finance Limited. We note that Dr. M. Manickam served as director on the board of Kovai Medical Center & Hospital Ltd. (Kovai Medical) for 34 years from 17 January 1990 till 2 September 2024. The annual report of Sakthi Sugars Limited suggests that M. Balasubramaniam and Dr. M. Manickam are related to each other as brothers. M. Balasubramaniam joined the board of Kovai Medical on 3 September 2024, a day after Dr. M. Manickam ceased to be on the board due to completion of his tenure. Outside of family linkages, the Nomination and Remuneration Committee (NRC) must disclose the basis of his selection on the board. While he may be an accomplished individual in his own right, we do not support his appointment as Independent Director owing to the long-term family linkage.
    • Sundaram Mutual Fund"M. Balasubramaniam, 66, is part of the promoter family of the Sakthi group. The notice states that he has 39 years of experience in finance, auto and sugar industries. The company should have provided granular clarity with respect to his work experience while seeking shareholder approval for his appointment. Public sources suggest that he serves as Managing Director of Sakthi Sugars Limited and as Vice-Chairperson and Managing Director of Sakthi Finance Limited. We note that Dr. M. Manickam served as director on the board of Kovai Medical Center & Hospital Ltd. (Kovai Medical) for 34 years from 17 January 1990 till 2 September 2024. The annual report of Sakthi Sugars Limited suggests that M. Balasubramaniam and Dr. M. Manickam are related to each other as brothers. M. Balasubramaniam joined the board of Kovai Medical on 3 September 2024, a day after Dr. M. Manickam ceased to be on the board due to completion of his tenure. Outside of family linkages, the Nomination and Remuneration Committee (NRC) must disclose the basis of his selection on the board. While he may be an accomplished individual in his own right, we do not support his appointment as Independent Director owing to the long-term family linkage."
    0 for2 against
  • Appointment of Mr. M. Alagiriswamy (DIN: 02112350) as an Independent Director of the Company, not liable to retire by rotation and to hold office for a term of 5 (five) consecutive years from 3rd September 2024 to 2nd September 2029.MoreLess
    3 for0 against
  • Appointment of Mr. M. Balasubramaniam (DIN: 00377053) as an Independent Director of the Company, not liable to retire by rotation and to hold office for a term of 5 (five) consecutive years from 3rd September 2024 to 2nd September 2029.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance concern: Excessive time commitments - Holding two full-time positions.
    2 for1 against

Mutual fund votes, meeting of 14 Aug 2024, 3 fund houses

  • Adoption of financial statements for the year ended 31 March 2024
    2 for0 against
  • Appoint Vasanth Kumar Venkatasamy (DIN: 00217764) as Independent Director for five years from 1 September 2024
    2 for0 against
  • Appointment of Mr. Vasanth Kumar Venkatasamy (DIN : 00217764) as an Independent Director of the Company, to hold office for a term of 5 (five) consecutive years, from 1st September, 2024 upto 31st August, 2029.MoreLess
    1 for0 against
  • Declare final dividend of Rs. 10.0 per equity share (face value of Rs. 10.0) for FY24
    2 for0 against
  • Ratification of remuneration of Rs. 5,50,000/- Plus GST and out- of- pocket expenses payable to Mr. V. Sakthivel (Membership No. 23292) Partner, M/s RKMS and Associates Cost Accountants, Coimbatore appointed by the Board of Directors of the company on recommendation of Audit Committee to Conduct the Audit of cost records of the Company for the financial year 2024 - 25.MoreLess
    1 for0 against
  • Ratify remuneration of Rs. 550,000 payable to V. Sakthivel (Partner at RKMS & Associates) as cost auditor for FY25
    2 for0 against
  • Re-appointment of Dr. Nalla G Palaniswami (DIN: 00013536) as Managing Director of the Company for the period of five years with effect from 1st October, 2024 and including remuneration.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: No absolute cap on variable pay, two full time positions, Similar commission to two promoter EDs for more than last three years.
    0 for1 against
  • Re-appointment of Mrs. V. Bhuvaneshwari (DIN: 01628512) as an Independent Non - Executive Director of the Company to hold office for a second term of five consecutive years with effect from 3rd September, 2024.MoreLess
    1 for0 against
  • Reappoint Dr. Mohan S Gounder (DIN: 02479218) as Non-Independent Non-Executive Director, liable to retire by rotation
    2 for0 against
  • Reappoint Dr. Nalla G Palaniswami (DIN: 00013536) as Managing Director for five years from 1 October 2024 and fix his remuneration in excess of regulatory thresholds
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundDr. Nalla G Palaniswami, 83, is the promoter and Managing Director of Kovai Medical Center and Hospital Limited. He has crossed the age of 70 – we do not consider age to be a criterion for board memberships. His FY24 pay aggregated Rs. 64.4 mn. Based on his proposed terms, we estimate his FY25 pay at Rs. 73.9 mn, which is high. The overall pay to promoter executive directors was also high at 6.9% of PBT in FY24. The proposed terms are open ended and entitle him to a flat commission at 2% of net profits. As the company grows, the company must cap his commission in absolute terms. He is also eligible for medical reimbursements – we believe the directors must bear their own personal expenses and for any medical coverage, the company may consider acquiring health insurance. We do not support the resolution.
    1 for1 against
  • Reappoint Ms. V Bhuvaneshwari (DIN: 01628512) as Independent Director for five years from 3 September 2024
    2 for0 against
  • To appoint a director in place of Dr. Mohan S Gounder (DIN: 02479218), who retires by rotation and, being eligible, seeks reappointment.
    1 for0 against
  • To declare dividend on equity shares for the financial year ended 31st March, 2024.
    1 for0 against
  • To receive, consider and adopt the audited financial statements of the Company for the financial year ended 31st March, 2024 and the Reports of the Directors and the Auditors thereon.
    1 for0 against

Mutual fund votes, meeting of 5 Jan 2024, 3 fund houses

  • Appoint M Rathinasamy (DIN: 10391134) as Independent Director for five years from 10 January 2024
    2 for0 against
  • Appointment of Mr. M.Rathinasamy (DIN:10391134) as an Independent Director of the Company for a period of five consecutive years with effect from 10.01.2024 and till 09.01.2029, and that he is not liable to retire by rotation.MoreLess
    1 for0 against

Mutual fund votes, meeting of 25 Aug 2023, 2 fund houses

  • Adoption of financial statements for the year ended 31 March 2023
    1 for0 against
  • Approve increase in remuneration (consultancy fee) to Dr. K.S.K Murugaiyan, medical consultant, in office of profit, to Rs. 400,000 per month
    Against Sundaram Mutual Fund
    • Sundaram Mutual FundDr. K.S.K Murugaiyan is part of the promoter family and is the brother of Joint MD: Dr. (Ms.) Thavamani Devi Palaniswami. He is a medical consultant. He was a non-executive director of Kovai Medical Center and Hospital Limited till September 2014 (he was on the board from 1993 till 2014). The company had sought shareholder approval for increasing his fees to Rs. 300,000 per month through a postal ballot in July 2021 and now seeks to increase his fees to Rs. 400,000 per month. The company should have disclosed his current occupation and past experience while seeking shareholder approval. The company has not defined a tenure for the validity of the proposed remuneration and thus the resolution is effectively valid in perpetuity. We believe shareholders must get a chance to periodically approval such payments and thus, we are unable to support the resolution.
    0 for1 against
  • Declare final dividend of Rs. 5.0 and special dividend of Rs. 5.0 per equity share (face value of Rs. 10.0) for FY23
    1 for0 against
  • Ratification of remuneration of Rs.4,75,000/- Plus GST and out-of-pocket expenses payable to Mr. V. Sakthivel (Membership No.23292) Partner, M/s RKMS & Associates Cost Accountants, Coimbatore appointed by the Board of Directors of the company on recommendation of Audit Committee to Conduct the Audit of cost records of the Company for the financial year 2023-24.MoreLess
    1 for0 against
  • Ratify remuneration of Rs. 475,000 payable to V. Sakthivel (Partner at RKMS & Associates) as cost auditor for FY24
    1 for0 against
  • Re-appointment of Dr. Arun N Palaniswami as Executive Director of the Company for the period of five years with effect from 25th September, 2023 and including remuneration.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance concern: No absolute cap on variable pay.
    0 for1 against
  • Re-Appointment of M/s VKS Aiyer & Co., Chartered Accountants (FRN: 000066S) as the Statutory Auditors of the Company for the second term of five consecutive years from Financial year 2023-24 to Financial year 2027-28, who shall hold office from the conclusion of this 37th AGM till the conclusion of the 42nd AGM to be held in the year 2028, at such remuneration.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNon-Compliant with Regulation 36(5) of SEBI LODR: Proposed audit fee to be paid to the auditors not disclosed.
    0 for1 against
  • Reappoint Dr. Arun N Palaniswami (DIN: 02706099) as Director, liable to retire by rotation
    1 for0 against
  • Reappoint Dr. Arun N Palaniswami (DIN: 02706099) as Executive Director for five years from 25 September 2023 and fix his remuneration
    1 for0 against
  • Reappoint VKS Aiyer & Co, as statutory auditors for five years from the conclusion of the 2023 AGM till the conclusion of 2028 AGM and authorize the board to fix their remuneration
    1 for0 against
  • To appoint a director in place of Dr. Arun N Palaniswami (DIN: 02706099), who retires by rotation and being eligible, seeks reappointment.
    1 for0 against
  • To declare dividend on equity shares for the financial year ended 31st March, 2023.
    1 for0 against
  • To enhance the maximum limit of Consultancy Charges payable to Dr. K.S.K Murugaiyan, Medical Consultant, a related party holding office or place of profit in the Company to Rs.4,00,000/- per month.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance concern: Profile of the appointee not disclosed.
    0 for1 against
  • To receive, consider and adopt the audited financial statements of the Company for the financial year ended 31st March, 2023 and the Report of the Directors and the Auditors thereon.
    1 for0 against

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

Fines

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyDirectorate General of Foreign TradeSince 25 Sep 2026

    Deficiency Letter issued

    Non-fulfillment of EO in 1st Block EO period

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 2025.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
No
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
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.