La Opala RG logo

La Opala RG CEO, MD, chairman, board of directors and AGM

NSE: LAOPALABSE: 526947Consumer DurablesSmall Cap

Last close ₹142.00down ₹2.71 (1.87%)BSE ₹142.15

Share price at the NSE close on 23 Oct 2026. Previous close ₹144.71.

52-week range of traded prices to 23 Oct 2026
₹138.11Low, 23 Oct 2026₹236.89High, 30 Oct 2025
Market cap
₹1,576 Cr1,141st largest listed
P/E
16.9
P/B
1.9
Dividend yield
3.52%
ROE
11.3%
ROCE
11.6%
Debt to equity
0.01
Volume, NSE
1,23,93147.0% delivered

La Opala RG 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

  • ChairpersonSUSHIL JHUNJHUNWALARelated to the promoter
  • Managing director and CEOAJIT JHUNJHUNWALA
  • Company Secretary and Compliance OfficerJit Roy Choudhury

5 directors2 independent3 executive

  • SUSHIL JHUNJHUNWALA · ChairpersonExecutive · joined Sep 1994 · reappointed Oct 2024 · 1 listed board · 1 committee seat
  • AJIT JHUNJHUNWALA · Managing director and CEOExecutive · joined Oct 1989 · reappointed Oct 2022 · 1 listed board · 2 committee seats
  • NIDHI JHUNJHUNWALAExecutive · joined May 2010 · reappointed Jun 2025 · 1 listed board
  • SUBIR BOSEIndependent · joined Apr 2017 · reappointed Apr 2022 · 110 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 1 as chair
  • SUPARNA CHAKRABORTTIIndependent · joined Jan 2022 · reappointed Jan 2022 · 53 months as independent · 4 listed boards · 4 as independent · 5 committee seats, 4 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
  • SANTANU RAY, left 18 Apr 2026: Others

Committees and meetings

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

  • Board

    • 13 Jun 20265 of 5 present2 independent · 13 days in between
    • 30 May 20265 of 5 present2 independent · 104 days in between
    • 14 Feb 20266 of 6 present3 independent · 35 days in between
    • 9 Jan 20266 of 6 present3 independent

  • Audit Committee

    Chair SUPARNA CHAKRABORTTI

    SUBIR BOSE, AJIT JHUNJHUNWALA

    • 30 May 20262 of 2 present2 independent · 104 days in between
    • 14 Feb 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair SUBIR BOSE

    SUPARNA CHAKRABORTTI, SUSHIL JHUNJHUNWALA

    • 30 May 20262 of 2 present2 independent
    • 14 Feb 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair SUBIR BOSE

    SUSHIL JHUNJHUNWALA, AJIT JHUNJHUNWALA

    • 30 May 20263 of 3 present1 independent
    • 14 Feb 20264 of 4 present2 independent

  • Risk Management Committee

    Chair SUBIR BOSE

    SUSHIL JHUNJHUNWALA, AJIT JHUNJHUNWALA

    • 30 May 20263 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair SUSHIL JHUNJHUNWALA

    AJIT JHUNJHUNWALA, NIDHI JHUNJHUNWALA, SUPARNA CHAKRABORTTI

    • 30 May 20263 of 3 present0 independent
    • 14 Feb 20264 of 4 present1 independent

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Singhi & Co.Peer-review certificate valid to Aug 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.

La Opala RG 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.La Opala RG dividend history

Annual general meeting, 27 Aug 2026

63,393 shareholders on the register on 20 Aug 2026; present: 11 promoters and 64 others; votes counted by PRAVIN KUMAR DROLIA / PRAVIN KUMAR DROLIA.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.77%

    Turnout: all 83.86% · promoters 100.00% · institutions 99.30% · other public 0.30%

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

    Against: promoters 0.00% · institutions 0.00% · other public 0.66%

    Turnout: all 83.86% · promoters 100.00% · institutions 99.30% · other public 0.30%

  3. To appoint a Director in place of Mrs. Nidhi Jhunjhunwala (DIN: 01144803), who retires by rotation and being eligible, offers herself for re-appointment as a Director.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.51%

    Turnout: all 83.86% · promoters 100.00% · institutions 99.30% · other public 0.30%

  4. To approve Re-appointment of Ms. Suparna Chakrabortti (DIN: 07090308) as a Non-Executive Woman Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 83.86% · promoters 100.00% · institutions 99.30% · other public 0.30%

  5. To approve appointment of Mr. Saradindu Dutta (DIN: 00058639) as a Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.09%

    Turnout: all 83.86% · promoters 100.00% · institutions 99.30% · other public 0.30%

  6. To approve appointment of Mr. Abhyuday Jhunjhunwala as Vice President- Business Development holding an Office or Place of Profit in the Company
    OrdinaryPromoters have an interest in it
    87.55% for12.45% against

    Against: promoters 0.00% · institutions 46.96% · other public 3.76%

    Turnout: all 66.09% · promoters 73.19% · institutions 99.30% · other public 0.30%

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, 14 Aug 2025, 5 resolutions

62,103 shareholders on the register on 7 Aug 2025; present: 9 promoters and 88 others; votes counted by PRAVIN KUMAR DROLIA / PRAVIN KUMAR DROLIA.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 86.98% · promoters 100.00% · institutions 98.03% · other public 5.44%

  2. To declare dividend on equity shares for the Financial Year ended 31st March, 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.98% · promoters 100.00% · institutions 98.03% · other public 5.44%

  3. To appoint a Director in place of Mr. Ajit Jhunjhunwala (DIN: 00111872), who retires by rotation and being eligible, offers himself for reappointment as a Director
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 86.98% · promoters 100.00% · institutions 98.03% · other public 5.44%

  4. To Approve the re-appointment and payment of Remuneration of Mrs. Nidhi Jhunjhunwala (DIN: 01144803) as Executive Director of the Company
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.33%

    Turnout: all 86.98% · promoters 100.00% · institutions 98.03% · other public 5.44%

  5. To approve the appointment of Secretarial Auditor of the Company for a term of Five (5) consecutive years to hold office from FY 2025- 26 till FY 2029-30
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 86.98% · promoters 100.00% · institutions 98.03% · other public 5.44%

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

Annual general meeting, 30 Sep 2024, 7 resolutions

Present: 7 promoters and 77 others.The company's voting result (opens in a new tab)

  1. Adoption and approval of Audited financial statements for the financial year ended March 31, 2024 together with the Reports of Board of Directors and the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.33%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

  2. To declare dividend of Rs. 10/- (inclusive of a special dividend of Rs 5/-) per equity Share of face value of Rs 2/- each for the financial year ended 31st March, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.33%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

  3. To Appoint a Director in place of Mr. Sushil Jhunjhunwala (DIN: 00082461)who retires by rotation and being eligible, offers himself for re-appointmrnt.
    OrdinaryPromoters have an interest in it
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.77% · other public 2.18%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

  4. To approve re-appointment and payment of remuneration of Mr. Sushil Jhunjhunwala (DIN: 00082461) as a Chairman of the Company.
    SpecialPromoters have an interest in it
    89.43% for10.57% against

    Against: promoters 0.00% · institutions 44.05% · other public 10.74%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

  5. Approval of remuneration by way of commission to Non-Executive Independent Directors of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 12.20%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

  6. Adoption of new set of Memorandum of Association as per Companies Act, 2013
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.89%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

  7. Adoption of new set of Articles of Association as per Companies Act, 2013
    Special
    88.04% for11.96% against

    Against: promoters 0.00% · institutions 49.91% · other public 0.46%

    Turnout: all 86.42% · promoters 100.00% · institutions 97.67% · other public 0.48%

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

Annual general meeting, 29 Sep 2023, 4 resolutions

Present: 8 promoters and 90 others.The company's voting result (opens in a new tab)

  1. Adoption and approval of Audited financial statements for the financial year ended March 31, 2023 together with the Reports of Board of Directors and the Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.16% · promoters 100.00% · institutions 95.47% · other public 2.18%

  2. Confirmation of the Interim Dividend paid @ 10% i.e., Rs. 2 per equity share during the financial year ended March 31, 2023 and Declaration of Final Dividend @ 150% i.e., Rs. 3/- per equity share amounting Total Dividend of Rs. 5 (i.e., 250%) per equity shares for the financial year ended March 31, 2023MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.18% · promoters 100.00% · institutions 95.54% · other public 2.18%

  3. To appoint a Director in place of Mr. Ajit Jhunjhunwala (DIN: 00111872) who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.45% · other public 0.29%

    Turnout: all 86.18% · promoters 100.00% · institutions 95.54% · other public 2.18%

  4. To appoint a Director in place of Mrs. Nidhi Jhunjhunwala (DIN: 01144803) who retires by rotation and being eligible offers herself for re-appointment.
    OrdinaryPromoters have an interest in it
    98.79% for1.21% against

    Against: promoters 0.00% · institutions 5.15% · other public 0.87%

    Turnout: all 86.18% · promoters 100.00% · institutions 95.54% · other public 2.18%

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

Annual general meeting, 29 Sep 2022, 7 resolutions

Present: 8 promoters and 89 others.The company's voting result (opens in a new tab)

  1. Adoption and approval of Audited financial statements for the financial year ended March 31, 2022 together with the Reports of Board of Directors and the Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

  2. Confirmation of the Interim Dividend paid @ 75% i.e., Rs. 1.50 per equity share during the financial year ended March 31, 2022 and Declaration of Final Dividend @ 40% i.e., Rs.0.80/- per equity share amounting Total Dividend of Rs. 2.30 (i.e., 115%) per equity shares for the financial year ended March 31, 2022MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

  3. To appoint a Director in place of Mr. Sushil Jhunjhunwala (Din: 00082461) who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.22% · other public 0.33%

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

  4. To appoint a Director in place of Mr. Arun Churiwal (Din: 00001718) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 1.41% · other public 0.33%

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

  5. Re-appointment of M/s Singhi & Co. Chartered Accountants, (Firm Registration No. - 302049E) as the Statutory Auditors of the Company and to fix their remuneration for a term of five consecutive years from the conclusion of this AGM till the conclusion of 40th AGMMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.44%

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

  6. Re-appointment and payment of remuneration of Mr. Ajit Jhunjhunwala (DIN: 00111872) as Vice Chairman & Managing Director of the Company for a term of five years w.e.f 1st October 2022;
    SpecialPromoters have an interest in it
    92.86% for7.14% against

    Against: promoters 0.00% · institutions 32.71% · other public 0.36%

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

  7. Re-appointment of Prof. Santanu Ray (DIN: 00642736) as an Independent Director for a second term of five consecutive years w.e.f., February 5, 2023
    Special
    100.00% for0.00% against

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

    Turnout: all 84.32% · promoters 100.00% · institutions 92.88% · other public 1.86%

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

Postal ballot, 3 Apr 2022, 2 resolutions

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

  1. Re-appointment of Mr. Subir Bose, (DIN: 00048451) as an Independent Director of the Company for a second term of five consecutive years commencing from April 7, 2022 till April 6, 2027
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.03% · other public 1.69%

    Turnout: all 85.78% · promoters 100.00% · institutions 96.20% · other public 1.97%

  2. Appointment of Ms. Suparna Chakrabortti (DIN: 07090308), as an Independent Director of the Company for a term of five consecutive years’ commencing from January 27, 2022 to January 26, 2027.
    Special
    98.90% for1.10% against

    Against: promoters 0.00% · institutions 4.75% · other public 1.13%

    Turnout: all 85.78% · promoters 100.00% · institutions 96.20% · other public 1.97%

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, 25 Sep 2021, 5 resolutions

Present: 8 promoters and 57 others.The company's voting result (opens in a new tab)

  1. Adoption and approval of Audited financial statements for the financial year ended March 31, 2021 and reports of Board of Directors and Auditors thereon. (passed as an Ordinary Resolution)
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.65% · promoters 100.00% · institutions 69.02% · other public 2.91%

  2. Declaration of Dividend for the financial year ended 31st March, 2021
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.65% · promoters 100.00% · institutions 69.02% · other public 2.91%

  3. To appoint a Director in place of Mr. Ajit Jhunjhunwala (DIN: 00111872) who retires by rotation and, being eligible, offers himself for reappointment.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.26%

    Turnout: all 80.65% · promoters 100.00% · institutions 69.02% · other public 2.91%

  4. To appoint a Director in place of Mrs. Nidhi Jhunjhunwala (DIN: 01144803) who retires by rotation and, being eligible, offers herself for reappointment.
    OrdinaryPromoters have an interest in it
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 0.74% · other public 1.27%

    Turnout: all 80.65% · promoters 100.00% · institutions 69.02% · other public 2.91%

  5. Continuation of Directorship for Shri Sushil Jhunjhunwala as Chairman of the Company for his remaining tenure
    SpecialPromoters have an interest in it
    99.99% for0.01% against

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

    Turnout: all 80.65% · promoters 100.00% · institutions 69.02% · other public 2.91%

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, 23 Mar 2021, 3 resolutions

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

  1. Approval of remuneration paid to Mr. Sushil Jhunjhunwala (DIN: 00082461) as Executive Chairman in the whole time employement of the Company in accordance with Resolution 17(6)(e)of the Listing Regulations of SEBI till the remaining tenure of his appointment up to 30/09/2024MoreLess
    SpecialPromoters have an interest in it
    83.33% for16.67% against

    Against: promoters 0.00% · institutions 71.67% · other public 1.73%

    Turnout: all 86.56% · promoters 100.00% · institutions 93.21% · other public 6.27%

  2. Approval of remuneration paid to Mr. Ajit Jhunjhunwala (DIN: 00111872) as Managing Director in the whole time employement of the Company in accordance with Resolution 17(6)(e)of the Listing Regulations of SEBI till the remaining tenure of his appointment up to 30/09/2022MoreLess
    SpecialPromoters have an interest in it
    83.33% for16.67% against

    Against: promoters 0.00% · institutions 71.67% · other public 1.77%

    Turnout: all 86.56% · promoters 100.00% · institutions 93.21% · other public 6.27%

  3. Approval of remuneration paid to Mrs. Nidhi Jhunjhunwala (DIN: 01144803) as Executive Director in the whole time employement of the Company in accordance with Resolution 17(6)(e)of the Listing Regulations of SEBI till the remaining tenure of her appointment up to 19/05/2025MoreLess
    SpecialPromoters have an interest in it
    83.33% for16.67% against

    Against: promoters 0.00% · institutions 71.67% · other public 1.78%

    Turnout: all 86.56% · promoters 100.00% · institutions 93.21% · other public 6.27%

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 27 Aug 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    3 for0 against
  • To declare dividend on equity shares for the financial year ended 31st March, 2026.
    3 for0 against
  • To appoint a Director in place of Mrs. Nidhi Jhunjhunwala (DIN: 01144803), who retires by rotation and being eligible, offers herself for re-appointment as a Director.
    3 for0 against
  • To approve Re-appointment of Ms. Suparna Chakrabortti (DIN: 07090308) as a Non-Executive Woman Independent Director of the Company
    3 for0 against
  • To approve appointment of Mr. Saradindu Dutta (DIN: 00058639) as a Non-Executive Independent Director of the Company
    3 for0 against
  • To approve appointment of Mr. Abhyuday Jhunjhunwala as Vice President- Business Development holding an Office or Place of Profit in the Company
    Against DSP Mutual Fund, ICICI Prudential Mutual Fund
    • DSP Mutual FundAbhyuday Jhunjhunwala is the grandson of Sushil Jhunjhunwala- Executive Chairperson. He is currently General Manager – Business Development. He holds a BSc. Degree in Operations and Business Analytics from Kelley School of Business, Indiana University. The company proposes to appoint him as Vice President – Business Development, holding an office of profit, at remuneration of Rs. 7.75 lakhs per month, with a cap of Rs. 10.00 lakhs per month. We estimate his annual remuneration for FY27 in the range of Rs. 9.3 mn to Rs. 12.0 mn. We note that Abhyuday Jhunjhunwala has limited full-time professional experience: he was associated with the company as an intern from June 2021 to December 2023 and was appointed General Manager only from 1 March 2024. While the company states that he has contributed to marketing, digital strategy and brand development, the proposed remuneration is not commensurate with his experience. Further, his proposed FY27 remuneration is comparable to the FY26 remuneration paid to Ms. Nidhi Jhunjhunwala, an Executive Director with over two decades of experience in marketing and product design. In this context, it is unclear how the company has benchmarked the proposed remuneration and whether it is aligned with responsibilities, experience and market practice. Given the limited full-time experience of Abhyuday Jhunjhunwala and lack of clarity on benchmarking of the proposed remuneration, we do not support the resolution.
    • ICICI Prudential Mutual FundBasis of determining remuneration and justification not disclosed; Excessive remuneration. Hence, given the lack of justification, the AMC has voted against the resolution.
    1 for2 against

Mutual fund votes, meeting of 14 Aug 2025, 5 fund houses

  • To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended 31st March, 2025 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    5 for0 against
  • To declare dividend on equity shares for the Financial Year ended 31st March, 2025
    5 for0 against
  • To appoint a Director in place of Mr. Ajit Jhunjhunwala (DIN: 00111872), who retires by rotation and being eligible, offers himself for reappointment as a Director
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance Concern: Remuneration practice appears to be skewed in favor of Mr. Ajit Jhunjhunwala.
    4 for1 against
  • To Approve the re-appointment and payment of Remuneration of Mrs. Nidhi Jhunjhunwala (DIN: 01144803) as Executive Director of the Company
    5 for0 against
  • To approve the appointment of Secretarial Auditor of the Company for a term of Five (5) consecutive years to hold office from FY 2025- 26 till FY 2029-30
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNon-Compliant with SEBI (LODR) Regulations: Proposed audit fee payable to Secretarial Auditors not disclosed.
    4 for1 against
6 earlier meetings

Mutual fund votes, meeting of 30 Sep 2024, 6 fund houses

  • Adoption and approval of Audited financial statements for the financial year ended March 31, 2024 together with the Reports of Board of Directors and the Auditors thereon.
    6 for0 against
  • To declare dividend of Rs. 10/- (inclusive of a special dividend of Rs 5/-) per equity Share of face value of Rs 2/- each for the financial year ended 31st March, 2024.
    6 for0 against
  • To Appoint a Director in place of Mr. Sushil Jhunjhunwala (DIN: 00082461)who retires by rotation and being eligible, offers himself for re-appointmrnt.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with the law. Governance Concern: Holding position of Executive Chairman.
    3 for3 against
  • To approve re-appointment and payment of remuneration of Mr. Sushil Jhunjhunwala (DIN: 00082461) as a Chairman of the Company.
    Against Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with the law. Governance Concern: Holding position of Executive Chairman.
    • DSP Mutual FundSushil Jhunjhunwala, 74, is promoter and Executive Chairperson. He received a remuneration of Rs. 50.6 mn in FY24. While we support his reappointment, as per his terms of reappointment, we estimate his annual remuneration to be Rs. 67.4 mn which is high for the size of the business. Further, his maximum remuneration over the term is estimated at Rs. 92.0 mn, which is high. We note that the remuneration proposed to be paid to Sushil Jhunjhunwala is in excess of regulatory limits set under Companies Act and SEBI LODR. Further, the overall family remuneration is high for the size of business (it was 8.0% of pre-tax profits in FY24 and has ranged between 7.2% to 10.8% of pre-tax profits in the past five years). Hence, we do not support the resolution,
    2 for4 against
  • Approval of remuneration by way of commission to Non-Executive Independent Directors of the Company
    6 for0 against
  • Adoption of new set of Memorandum of Association as per Companies Act, 2013
    6 for0 against
  • Adoption of new set of Articles of Association as per Companies Act, 2013
    Against Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual FundCompliant with Law. Governance & Transparency concern: Updated Articles of Association cannot be located on the website.
    • DSP Mutual FundThe existing set of AoA are based on Companies Act, 1956. The company seeks to adopt a new set to align with Companies Act, 2013. The new set of AoA are not available on the company’s website. Given that the AoA is not accessible, it is not possible to ascertain the impact on minority shareholders. Further, we also raise concern at the delay in making the AoA compliant with the Companies Act 2013: the alignment to the new regulation is being done over ten years after the Companies Act 2013 was notified. We do not support the resolution.
    • Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Provision to appoint Alternate Directors; Provision for holding combined position of chairperson and MD/CEO.
    2 for4 against

Mutual fund votes, meeting of 29 Sep 2023, 8 fund houses

  • Adoption and approval of Audited financial statements for the financial year ended March 31, 2023 together with the Reports of Board of Directors and the Auditors thereon.
    8 for0 against
  • Confirmation of the Interim Dividend paid @ 10% i.e., Rs. 2 per equity share during the financial year ended March 31, 2023 and Declaration of Final Dividend @ 150% i.e., Rs. 3/- per equity share amounting Total Dividend of Rs. 5 (i.e., 250%) per equity shares for the financial year ended March 31, 2023MoreLess
    8 for0 against
  • To appoint a Director in place of Mr. Ajit Jhunjhunwala (DIN: 00111872) who retires by rotation and being eligible offers himself for re-appointment.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundRe-appointment is compliant with law. Governance Concern: Remuneration practice appears to be skewed in favour of Mr. Ajit Jhunjhunwala.
    7 for1 against
  • To appoint a Director in place of Mrs. Nidhi Jhunjhunwala (DIN: 01144803) who retires by rotation and being eligible offers herself for re-appointment.
    8 for0 against

Mutual fund votes, meeting of 29 Sep 2022, 4 fund houses

  • Adoption and approval of Audited financial statements for the financial year ended March 31, 2022 together with the Reports of Board of Directors and the Auditors thereon.
    4 for0 against
  • Confirmation of the Interim Dividend paid @ 75% i.e., Rs. 1.50 per equity share during the financial year ended March 31, 2022 and Declaration of Final Dividend @ 40% i.e., Rs.0.80/- per equity share amounting Total Dividend of Rs. 2.30 (i.e., 115%) per equity shares for the financial year ended March 31, 2022MoreLess
    4 for0 against
  • To appoint a Director in place of Mr. Sushil Jhunjhunwala (Din: 00082461) who retires by rotation and being eligible offers himself for re-appointment.
    4 for0 against
  • To appoint a Director in place of Mr. Arun Churiwal (Din: 00001718) who retires by rotation and being eligible offers himself for re-appointment
    4 for0 against
  • Re-appointment of M/s Singhi & Co. Chartered Accountants, (Firm Registration No. - 302049E) as the Statutory Auditors of the Company and to fix their remuneration for a term of five consecutive years from the conclusion of this AGM till the conclusion of 40th AGMMoreLess
    4 for0 against
  • Re-appointment and payment of remuneration of Mr. Ajit Jhunjhunwala (DIN: 00111872) as Vice Chairman & Managing Director of the Company for a term of five years w.e.f 1st October 2022;
    Against HDFC Mutual Fund
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    3 for1 against
  • Re-appointment of Prof. Santanu Ray (DIN: 00642736) as an Independent Director for a second term of five consecutive years w.e.f., February 5, 2023
    4 for0 against

Mutual fund votes, meeting of 3 Apr 2022, 6 fund houses

  • Re-appointment of Mr. Subir Bose, (DIN: 00048451) as an Independent Director of the Company for a second term of five consecutive years commencing from April 7, 2022 till April 6, 2027
    6 for0 against
  • Appointment of Ms. Suparna Chakrabortti (DIN: 07090308), as an Independent Director of the Company for a term of five consecutive years’ commencing from January 27, 2022 to January 26, 2027.
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundMs. Suparna Chakrabortti, 55, is an associate member of Institute of Chartered Accountants of India. She has completed Master’s in Business Administration (Finance) from Rutgers University, New Jersey and Hunter College, New York. In the absence of adequate disclosures regarding her work experience and current occupation, we are unable to make an informed decision regarding her appointment. The company must provide adequate clarity on her experience and the value she will add to the board.
    5 for1 against

Mutual fund votes, meeting of 25 Sep 2021, 6 fund houses

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

  • Adoption and approval of Audited financial statements for the financial year ended March 31, 2021 and reports of Board of Directors and Auditors thereon. (passed as an Ordinary Resolution)
    6 for0 against
  • Declaration of Dividend for the financial year ended 31st March, 2021
    5 for0 against
  • To appoint a Director in place of Mr. Ajit Jhunjhunwala (DIN: 00111872) who retires by rotation and, being eligible, offers himself for reappointment.
    6 for0 against
  • To appoint a Director in place of Mrs. Nidhi Jhunjhunwala (DIN: 01144803) who retires by rotation and, being eligible, offers herself for reappointment.
    6 for0 against
  • Continuation of Directorship for Shri Sushil Jhunjhunwala as Chairman of the Company for his remaining tenure
    6 for0 against
1 proposal not matched to one resolution
  • Declare dividend of Rs. 1.50 per equity share (face value Rs. 2.0) for FY21
    1 for0 against

Mutual fund votes, meeting of 23 Mar 2021, 6 fund houses

  • Approval of remuneration paid to Mr. Sushil Jhunjhunwala (DIN: 00082461) as Executive Chairman in the whole time employement of the Company in accordance with Resolution 17(6)(e)of the Listing Regulations of SEBI till the remaining tenure of his appointment up to 30/09/2024MoreLess
    Against Bank of India Mutual Fund, HDFC Mutual Fund
    • Bank of India Mutual FundThe resolution seeks enabling approval to pay Sushil Jhunjhunwala in excess of 2. 5% of net profits or Rs. 50. 0 mn, or 5% of net profits in aggregate to all executive directors, till the end of his current term in September 2024. Sushil Jhunjhunwala was paid Rs. 39. 0 mn in FY20 and Rs. 43. 9 mn in FY19. His remuneration structure is open-ended and there is no clarity on commission payable to him during his remaining tenure. We expect companies to cap the remuneration payable to directors. Further, aggregate promoter family remuneration has remained high over the past few years and was 7. 2% of pre-tax profits in FY20.
    • HDFC Mutual FundRemuneration structure is open-ended and appears high
    2 for2 against

    2 abstained

  • Approval of remuneration paid to Mr. Ajit Jhunjhunwala (DIN: 00111872) as Managing Director in the whole time employement of the Company in accordance with Resolution 17(6)(e)of the Listing Regulations of SEBI till the remaining tenure of his appointment up to 30/09/2022MoreLess
    Against Bank of India Mutual Fund, HDFC Mutual Fund
    • Bank of India Mutual FundThe resolution seeks enabling approval to pay Ajit Jhunjhunwala in excess of 2. 5% of net profits or Rs. 50. 0 mn, or 5% of net profits in aggregate to all executive directors, till the end of his current term in September 2022. Ajit Jhunjhunwala was paid Rs. 25. 3 mn in FY20 and Rs. 35. 1 mn in FY19. His remuneration structure is open-ended and there is no clarity on commission payable to him during his remaining tenure. We expect companies to cap the remuneration payable to directors. Further, aggregate promoter family remuneration has remained high over the past few years and was 7. 2% of pre-tax profits in FY20.
    • HDFC Mutual FundRemuneration structure is open-ended and appears high
    2 for2 against

    2 abstained

  • Approval of remuneration paid to Mrs. Nidhi Jhunjhunwala (DIN: 01144803) as Executive Director in the whole time employement of the Company in accordance with Resolution 17(6)(e)of the Listing Regulations of SEBI till the remaining tenure of her appointment up to 19/05/2025MoreLess
    Against Bank of India Mutual Fund, HDFC Mutual Fund
    • Bank of India Mutual FundThe resolution seeks enabling approval to pay Nidhi Jhunjhunwala in excess of 2. 5% of net profits or Rs. 50. 0 mn, or 5% of net profits in aggregate to all executive directors till the end of her current term in May 2025. Nidhi Jhunjhunwala was paid Rs. 11. 3 mn in FY20 and Rs. 15. 7 mn in FY19. Her remuneration structure is open-ended and there is no clarity on commission payable to her during her remaining tenure. We expect companies to cap the remuneration payable to directors. Further, aggregate promoter family remuneration has remained high over the past few years and was 7. 2% of pre-tax profits in FY20.
    • HDFC Mutual FundRemuneration structure is open-ended and appears high
    2 for2 against

    2 abstained

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

Investor complaints and compliance

Quarter by quarter.

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

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Dec 2024.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.