Lumax Industries logo

Lumax Industries MD, chairman, board of directors and AGM

NSE: LUMAXINDBSE: 517206Auto ComponentsSmall Cap

Last close ₹5,304.00up ₹83.00 (1.59%)BSE ₹5,320.20

Share price at the NSE close on 23 Oct 2026. Previous close ₹5,221.00.

52-week range of traded prices to 23 Oct 2026
₹4,480.00Low, 7 Nov 2025₹6,934.50High, 11 Feb 2026
Market cap
₹4,958 Cr782nd largest listed
P/E
26.5
P/B
5.4
Dividend yield
1.04%
ROE
22.1%
ROCE
15.7%
Debt to equity
0.88
Volume, NSE
24,19847.5% delivered

Lumax Industries 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

  • ChairpersonDEEPAK JAINRelated to the promoter
  • Managing directorANMOL JAIN
  • Company Secretary and Compliance OfficerRaajesh Kumar Gupta

12 directors6 independent5 executive1 non-executive

  • DEEPAK JAIN · ChairpersonExecutive · joined Feb 2001 · reappointed Feb 2026 · 2 listed boards · 3 committee seats, 1 as chair
  • ANMOL JAIN · Managing directorExecutive · joined Jul 2004 · reappointed Aug 2026 · 2 listed boards · 1 committee seat
  • TADAYOSHI AOKIExecutive · joined Feb 2018 · reappointed Feb 2024 · 1 listed board · 2 committee seats
  • RAJEEV KAPOORIndependent · joined May 2017 · reappointed May 2022 · 113 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • VIKRAMPATI SINGHANIAIndependent · joined Feb 2021 · reappointed Feb 2026 · 68 months as independent · 4 listed boards · 3 as independent · 3 committee seats, 1 as chair
  • TOMOHIRO KONDONon-executive · joined May 2024 · 1 listed board
  • HARISH LAKSHMANIndependent · joined Aug 2024 · 25 months as independent · 5 listed boards · 3 as independent · 3 committee seats, 1 as chair
  • PRADEEP SINGH JAUHARIndependent · joined Aug 2024 · 25 months as independent · 2 listed boards · 1 as independent
  • RAAJESH KUMAR GUPTAExecutive · joined May 2023 · reappointed May 2026 · 1 listed board
  • KENJIRO NAKAZONOExecutive · joined May 2025 · 1 listed board
  • RITIKA SETHIIndependent · joined Jul 2018 · reappointed Jul 2023 · 98 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • PALLAVI DINODIA GUPTAIndependent · joined Aug 2024 · 25 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 1 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
  • TETSUYA HOJO, left 26 May 2025: Others

Committees and meetings

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

  • Board

    • 8 Aug 202611 of 12 present5 independent · 71 days in between
    • 28 May 202612 of 12 present6 independent

  • Audit Committee

    Chair RAJEEV KAPOOR

    DEEPAK JAIN, TADAYOSHI AOKI, VIKRAMPATI SINGHANIA, PALLAVI DINODIA GUPTA, RITIKA SETHI

    • 8 Aug 20266 of 6 present4 independent · 71 days in between
    • 28 May 20266 of 6 present4 independent

  • Nomination and remuneration committee

    Chair HARISH LAKSHMAN

    VIKRAMPATI SINGHANIA, PRADEEP SINGH JAUHAR

    • 8 Aug 20262 of 3 present2 independent · 71 days in between
    • 28 May 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair VIKRAMPATI SINGHANIA

    TADAYOSHI AOKI, DEEPAK JAIN

    • 8 Aug 20263 of 3 present1 independent · 71 days in between
    • 28 May 20263 of 3 present1 independent

  • Risk Management Committee

    Chair DEEPAK JAIN

    RAVI TELTIA, RAAJESH KUMAR GUPTA, RAJEEV KAPOOR

    • 8 Aug 20263 of 3 present1 independent · 71 days in between

  • Corporate Social Responsibility Committee

    Chair DEEPAK JAIN

    ANMOL JAIN, PALLAVI DINODIA GUPTA

    • 28 May 20263 of 3 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.

  • S.R. Batliboi & Co. LLPPeer-review certificate valid to Jul 2027

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.

Lumax Industries AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Lumax Industries dividend history

Annual general meeting, 26 Aug 2026

24,857 shareholders on the register on 20 Aug 2026; present: 6 promoters and 99 others; votes counted by Maneesh Gupta / Maneesh Gupta.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt a. the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 together with the Report of Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.49%

    Turnout: all 82.80% · promoters 100.00% · institutions 82.83% · other public 2.16%

  2. To declare a dividend of Rs. 55/- per equity share of Rs. 10/- each, as recommended by the Board of Directors for the Financial Year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.49%

    Turnout: all 82.80% · promoters 100.00% · institutions 82.83% · other public 2.16%

  3. To appoint a Director in place of Mr Tomohiro Kondo (DIN:10637013), who retires by rotation and, being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.34% for0.66% against

    Against: promoters 0.00% · institutions 3.98% · other public 0.67%

    Turnout: all 45.30% · promoters 50.00% · institutions 82.83% · other public 2.16%

  4. APPROVAL FOR RE-APPOINTMENT OF MR TADAYOSHI AOKI (DIN: 08053387) AS SENIOR EXECUTIVE DIRECTOR - WHOLE TIME DIRECTOR (KEY MANAGERIAL PERSONNEL) OF THE COMPANY FOR A PERIOD OF 3 YEARS.
    SpecialPromoters have an interest in it
    98.65% for1.35% against

    Against: promoters 0.00% · institutions 8.17% · other public 0.49%

    Turnout: all 45.30% · promoters 50.00% · institutions 82.83% · other public 2.16%

  5. CHANGE IN DESIGNATION OF MR DEEPAK JAIN (DIN:00004972) FROM CHAIRMAN AND MANAGING DIRECTOR (KEY MANAGERIAL PERSONNEL) TO CHAIRMAN (KEY MANAGERIAL PERSONNEL) OF THE COMPANY
    SpecialPromoters have an interest in it
    99.50% for0.51% against

    Against: promoters 0.00% · institutions 3.04% · other public 0.49%

    Turnout: all 45.30% · promoters 50.00% · institutions 82.83% · other public 2.16%

  6. CHANGE IN DESIGNATION OF MR ANMOL JAIN (DIN: 00004993) FROM JOINT MANAGING DIRECTOR (KEY MANAGERIAL PERSONNEL) TO MANAGING DIRECTOR (KEY MANAGERIAL PERSONNEL) OF THE COMPANY
    SpecialPromoters have an interest in it
    99.66% for0.34% against

    Against: promoters 0.00% · institutions 2.05% · other public 0.49%

    Turnout: all 45.30% · promoters 50.00% · institutions 82.83% · other public 2.16%

  7. RATIFICATION OF REMUNERATION OF COST AUDITORS FOR FINANCIAL YEAR 2026-27
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.49%

    Turnout: all 82.80% · promoters 100.00% · institutions 82.83% · other public 2.16%

  8. APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH LUMAX AUTO TECHNOLOGIES LIMITED
    OrdinaryPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.49%

    Turnout: all 7.80% · promoters 0.00% · institutions 82.83% · other public 2.16%

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

Annual general meeting, 25 Aug 2025, 12 resolutions

20,045 shareholders on the register on 19 Aug 2025; present: 12 promoters and 20,153 others; votes counted by Maneesh Gupta / Maneesh Gupta.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 together with the Report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  2. To declare a dividend of Rs. 35/- per equity share as recommended by the Board of Directors for the Financial Year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  3. To appoint a Director in place of Mr Raajesh Kumar Gupta (DIN:00988790), who retires by rotation and, being eligible, offers himself for re-appointment.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.32% · other public 0.00%

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  4. To appoint a Director in place of Mr Tadayoshi Aoki (DIN:08053387), who retires by rotation and, being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    98.91% for1.09% against

    Against: promoters 0.00% · institutions 8.53% · other public 0.00%

    Turnout: all 44.12% · promoters 50.00% · institutions 79.70% · other public 5.42%

  5. Appointment of Mr. Kenjiro Nakazono (DIN:08753913) as an Executive Director.
    SpecialPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.32% · other public 0.00%

    Turnout: all 44.12% · promoters 50.00% · institutions 79.70% · other public 5.42%

  6. Approval for Re-appointment of Mr. Deepak Jain (DIN: 00004972) as Chairman and Managing Director (Key Managerial Personnel) of the Company for a period of 5 Years.
    SpecialPromoters have an interest in it
    97.98% for2.02% against

    Against: promoters 0.00% · institutions 15.77% · other public 0.11%

    Turnout: all 44.12% · promoters 50.00% · institutions 79.70% · other public 5.42%

  7. Approval for Re-appointment of Mr. Anmol Jain (DIN:00004993) as Joint Managing Director (Key Managerial Personnel) of the Company for a period of 5 Years.
    SpecialPromoters have an interest in it
    98.94% for1.06% against

    Against: promoters 0.00% · institutions 8.28% · other public 0.00%

    Turnout: all 44.12% · promoters 50.00% · institutions 79.70% · other public 5.42%

  8. Approval for Re-appointment of Mr. Raajesh Kumar Gupta (DIN:00988790) as Executive Director – Whole Time Director (Key Managerial Personnel) of the Company for a period of 3 years.
    Special
    100.00% for0.00% against

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

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  9. Re-appointment of Mr. Vikrampati Singhania (DIN:00040659) as an Independent Director for a second term of Five consecutive Years.
    Special
    99.40% for0.60% against

    Against: promoters 0.00% · institutions 8.68% · other public 0.00%

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  10. Appointment of Mr. Maneesh Gupta, Practicing Company Secretary as Secretarial Auditor of the Company for 5 (Five) Consecutive Years.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  11. Ratification of Remuneration of Cost Auditors for Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.62% · promoters 100.00% · institutions 79.70% · other public 5.42%

  12. Approval of Material Related Party Transactions with Lumax Auto Technologies Limited.
    OrdinaryPromoters have an interest in it
    96.88% for3.12% against

    Against: promoters 0.00% · institutions 3.65% · other public 0.00%

    Turnout: all 6.62% · promoters 0.00% · institutions 79.70% · other public 5.42%

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, 27 Sep 2024, 10 resolutions

Present: 6 promoters and 96 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt na) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon and nb) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 together with the Report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  2. To declare a dividend of Rs. 35/- per Equity Share as recommended by the Board of Directors for the Financial Year ended March 31, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  3. To appoint a Director in place of Mr. Deepak Jain (DIN: 00004972), who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    98.98% for1.02% against

    Against: promoters 0.00% · institutions 16.81% · other public 0.55%

    Turnout: all 66.59% · promoters 82.26% · institutions 84.37% · other public 4.42%

  4. To appoint a director in place of Mr. Anmol Jain (DIN: 00004993), who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.11% for0.89% against

    Against: promoters 0.00% · institutions 14.78% · other public 0.43%

    Turnout: all 66.59% · promoters 82.26% · institutions 84.37% · other public 4.42%

  5. Appointment of Mr. Tetsuya Hojo (DIN: 10725951) as a Non - Executive Director
    OrdinaryPromoters have an interest in it
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 1.92% · other public 0.44%

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  6. Appointment of Ms. Pallavi Dinodia Gupta (DIN: 06566637) as an Independent Director
    Special
    99.33% for0.67% against

    Against: promoters 0.00% · institutions 13.26% · other public 0.43%

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  7. Appointment of Mr. Harish Lakshman (DIN: 00012602) as an Independent Director
    Special
    98.74% for1.26% against

    Against: promoters 0.00% · institutions 25.13% · other public 0.43%

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  8. Appointment of Mr. Pradeep Singh Jauhar (DIN: 00744518) as an Independent Director
    Ordinary
    99.12% for0.88% against

    Against: promoters 0.00% · institutions 17.46% · other public 0.43%

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  9. Ratification of Remuneration of Cost Auditors for Financial Year 2024-25
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 79.89% · promoters 100.00% · institutions 84.37% · other public 4.42%

  10. Approval of Material Related Party Transactions with Lumax Auto Technologies Limited
    OrdinaryPromoters have an interest in it
    89.25% for10.75% against

    Against: promoters 0.00% · institutions 12.86% · other public 1.34%

    Turnout: all 4.89% · promoters 0.00% · institutions 84.37% · other public 4.42%

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, 2 Aug 2024, 1 resolution

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

  1. Approval for appointment of Mr Tomohiro Kondo (DIN: 10637013) as a Non - Executive Director.
    OrdinaryPromoters have an interest in it
    98.60% for1.40% against

    Against: promoters 0.00% · institutions 25.98% · other public 1.89%

    Turnout: all 40.48% · promoters 50.00% · institutions 76.74% · other public 3.92%

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, 29 Dec 2023, 3 resolutions

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

  1. Approval for Reappointment of Mr. Tadayoshi Aoki (DIN: 08053387) as Senior Executive Director - Whole Time Director (Key Managerial Personnel) of the Company for a period of 3 years.
    SpecialPromoters have an interest in it
    98.98% for1.02% against

    Against: promoters 0.00% · institutions 23.36% · other public 4.50%

    Turnout: all 39.28% · promoters 50.00% · institutions 69.82% · other public 0.34%

  2. Approval for the payment of minimum remuneration to Mr. Deepak Jain (DIN: 00004972) Chairman and Managing Director (Key Managerial Personnel) for the remaining period of his existing tenure
    SpecialPromoters have an interest in it
    96.28% for3.72% against

    Against: promoters 0.00% · institutions 81.52% · other public 4.56%

    Turnout: all 37.55% · promoters 47.69% · institutions 69.82% · other public 0.34%

  3. Approval for the payment of minimum remuneration to Mr. Anmol Jain (DIN: 00004993) Joint Managing Director (Key Managerial Personnel) for the remaining period of his existing tenure.
    SpecialPromoters have an interest in it
    98.93% for1.07% against

    Against: promoters 0.00% · institutions 23.36% · other public 4.56%

    Turnout: all 37.55% · promoters 47.69% · institutions 69.82% · other public 0.34%

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

Postal ballot, 28 Sep 2023, 1 resolution

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

  1. Approval of Material Related Party Transactions with Lumax Auto Technologies Limited.
    OrdinaryPromoters have an interest in it
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.47%

    Turnout: all 2.40% · promoters 0.00% · institutions 68.96% · other public 3.71%

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, 22 Aug 2023, 6 resolutions

Present: 6 promoters and 114 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adoptna) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the Reports of the Board of Directors and Auditors thereon; and nb) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023 together with the Report of Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.62% · other public 0.07%

    Turnout: all 76.56% · promoters 100.00% · institutions 69.15% · other public 0.13%

  2. To declare a dividend of Rs. 27/- per equity share asnrecommended by the Board of Directors for the FinancialnYear ended March 31, 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.57% · promoters 100.00% · institutions 69.57% · other public 0.13%

  3. To appoint a Director in place of Mr Toru Tanabe (DIN: 06883767), who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    98.40% for1.60% against

    Against: promoters 0.00% · institutions 79.52% · other public 0.07%

    Turnout: all 76.57% · promoters 100.00% · institutions 69.57% · other public 0.13%

  4. APPOINTMENT OF MR RAAJESH KUMAR GUPTA (DIN:00988790) AS AN EXECUTIVE DIRECTOR
    Special
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 19.27% · other public 0.11%

    Turnout: all 76.57% · promoters 100.00% · institutions 69.57% · other public 0.13%

  5. APPOINTMENT OF MR YOSHITSUGU MATSUSHITAn(DIN:10185011) AS A NON - EXECUTIVE DIRECTOR
    OrdinaryPromoters have an interest in it
    99.60% for0.40% against

    Against: promoters 0.00% · institutions 19.89% · other public 0.07%

    Turnout: all 76.57% · promoters 100.00% · institutions 69.57% · other public 0.13%

  6. RATIFICATION OF REMUNERATION OF COST AUDITORS FOR FY 2023-24
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 76.57% · promoters 100.00% · institutions 69.57% · other public 0.13%

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, 24 Mar 2023, 3 resolutions

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

  1. APPROVAL FOR RE-APPOINTMENT OF MR. VINEET SAHNI (DIN: 03616096) AS SENIOR EXECUTIVE DIRECTOR – WHOLE TIME DIRECTOR AND CEO (KEY MANAGERIAL PERSONNEL) OF THE COMPANY
    Special
    99.39% for0.61% against

    Against: promoters 0.00% · institutions 49.37% · other public 1.91%

    Turnout: all 75.19% · promoters 97.69% · institutions 73.73% · other public 4.38%

  2. APPROVAL FOR RE-APPOINTMENT OF MR. KENJIRO NAKAZONO (DIN: 08753913) AS EXECUTIVE DIRECTOR – WHOLE TIME DIRECTOR (KEY MANAGERIAL PERSONNEL) OF THE COMPANY.
    SpecialPromoters have an interest in it
    98.99% for1.01% against

    Against: promoters 0.00% · institutions 42.82% · other public 1.91%

    Turnout: all 39.43% · promoters 50.00% · institutions 73.73% · other public 4.38%

  3. APPROVAL FOR RE-APPOINTMENT OF MRS. RITIKA MODI (DIN: 00463560) AS AN INDEPENDENT DIRECTOR OF THE COMPANY FOR THE SECOND TERM OF 5 YEARS
    Special
    100.00% for0.00% against

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

    Turnout: all 75.19% · promoters 97.69% · institutions 73.73% · other public 4.38%

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

  • To receive, consider and adopt a. the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 together with the Report of Auditors thereonMoreLess
    2 for0 against
  • To declare a dividend of Rs. 55/- per equity share of Rs. 10/- each, as recommended by the Board of Directors for the Financial Year ended March 31, 2026.
    2 for0 against
  • To appoint a Director in place of Mr Tomohiro Kondo (DIN:10637013), who retires by rotation and, being eligible, offers himself for re-appointment.
    Against Navi Mutual Fund, Quantum Mutual Fund
    • Navi Mutual FundCompliant with law. Governance concern: The director aggregate attendance at Board meetings is low over the last Two years.
    • Quantum Mutual FundTomhiro Kondo is nominee of Stanley Electric Group which holds 37.5% shares in the company. He is a Nominee Director on the board since 25 May 2024. He attended three out of four (75%) meetings held in FY26 and only three out of nine board meetings (33%) since his appointment, which is less than the threshold of 75%. We do not support his reappointment.
    0 for2 against
  • APPROVAL FOR RE-APPOINTMENT OF MR TADAYOSHI AOKI (DIN: 08053387) AS SENIOR EXECUTIVE DIRECTOR - WHOLE TIME DIRECTOR (KEY MANAGERIAL PERSONNEL) OF THE COMPANY FOR A PERIOD OF 3 YEARS.
    2 for0 against
  • CHANGE IN DESIGNATION OF MR DEEPAK JAIN (DIN:00004972) FROM CHAIRMAN AND MANAGING DIRECTOR (KEY MANAGERIAL PERSONNEL) TO CHAIRMAN (KEY MANAGERIAL PERSONNEL) OF THE COMPANY
    Against Navi Mutual Fund
    • Navi Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Mr. Deepak Jain continues to hold the position of Chairman and Executive Director, clubbing the position may lead to concentration of power which is manifested in Company’s remuneration practice which are highly skewed towards him.
    1 for1 against
  • CHANGE IN DESIGNATION OF MR ANMOL JAIN (DIN: 00004993) FROM JOINT MANAGING DIRECTOR (KEY MANAGERIAL PERSONNEL) TO MANAGING DIRECTOR (KEY MANAGERIAL PERSONNEL) OF THE COMPANY
    Against Navi Mutual Fund
    • Navi Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Director holds two full-time positions. Remuneration practice is skewed in favour of Promoter EDs.
    1 for1 against
  • RATIFICATION OF REMUNERATION OF COST AUDITORS FOR FINANCIAL YEAR 2026-27
    2 for0 against
  • APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH LUMAX AUTO TECHNOLOGIES LIMITED
    2 for0 against

Mutual fund votes, meeting of 25 Aug 2025, 5 fund houses

  • To receive, consider and adopt: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 together with the Report of Auditors thereon.MoreLess
    5 for0 against
  • To declare a dividend of Rs. 35/- per equity share as recommended by the Board of Directors for the Financial Year ended March 31, 2025.
    5 for0 against
  • To appoint a Director in place of Mr Raajesh Kumar Gupta (DIN:00988790), who retires by rotation and, being eligible, offers himself for re-appointment.
    5 for0 against
  • To appoint a Director in place of Mr Tadayoshi Aoki (DIN:08053387), who retires by rotation and, being eligible, offers himself for re-appointment.
    Against Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Low attendance at Audit Committee Meetings in each of the last 3 FYs.
    3 for2 against
  • Appointment of Mr. Kenjiro Nakazono (DIN:08753913) as an Executive Director.
    5 for0 against
  • Approval for Re-appointment of Mr. Deepak Jain (DIN: 00004972) as Chairman and Managing Director (Key Managerial Personnel) of the Company for a period of 5 Years.
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Quantum Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Combined position of Chairperson & Managing Director; Director holds two full-time positions. Low attendance at Audit Committee Meetings in each of the last 3 FYs. Remuneration practice is skewed in favour of Promoter EDs and No absolute cap on proposed variable pay or total remuneration.
    • Quantum Mutual FundWe take note that Mr. Deepak Jain is the Chairman & MD of the company. We are of the view that clubbing both the positions may lead to concentration of power. Therefore, we do not favour his reappointment.
    1 for4 against
  • Approval for Re-appointment of Mr. Anmol Jain (DIN:00004993) as Joint Managing Director (Key Managerial Personnel) of the Company for a period of 5 Years.
    Against Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Director holds two full-time positions. Remuneration practice is skewed in favour of Promoter EDs and No absolute cap on proposed variable pay or total remuneration.
    3 for2 against
  • Approval for Re-appointment of Mr. Raajesh Kumar Gupta (DIN:00988790) as Executive Director – Whole Time Director (Key Managerial Personnel) of the Company for a period of 3 years.
    5 for0 against
  • Re-appointment of Mr. Vikrampati Singhania (DIN:00040659) as an Independent Director for a second term of Five consecutive Years.
    Against Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Time Commitment appears excessive - holds two full-time positions. Remuneration practice of the Company is skewed in favour of Promoter EDs, Proposed Director is a Member of NRC, hence, should be held accountable for skewness in remuneration practice of the Company.
    3 for2 against
  • Appointment of Mr. Maneesh Gupta, Practicing Company Secretary as Secretarial Auditor of the Company for 5 (Five) Consecutive Years.
    5 for0 against
  • Ratification of Remuneration of Cost Auditors for Financial Year 2025-26.
    5 for0 against
  • Approval of Material Related Party Transactions with Lumax Auto Technologies Limited.
    Against Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Transparency Concern: Unclear how purchase & sale of fixed assets fall within the ordinary course of business.
    3 for2 against
6 earlier meetings

Mutual fund votes, meeting of 27 Sep 2024, 5 fund houses

  • To receive, consider and adopt na) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon and nb) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 together with the Report of Auditors thereon.MoreLess
    5 for0 against
  • To declare a dividend of Rs. 35/- per Equity Share as recommended by the Board of Directors for the Financial Year ended March 31, 2024.
    5 for0 against
  • To appoint a Director in place of Mr. Deepak Jain (DIN: 00004972), who retires by rotation and being eligible, offers himself for re-appointment.
    Against Bandhan Mutual Fund, Quantum Mutual Fund
    • Bandhan Mutual FundRe-appointment compliant with law. No concerns on merit of appointee. Governance Concern: Combined position of Chairperson & Managing Director; Director holds two full-time positions.
    • Quantum Mutual FundCombined position of Chairperson & Managing Director will create the concentration of authority. We do not favour the resolution.
    3 for2 against
  • To appoint a director in place of Mr. Anmol Jain (DIN: 00004993), who retires by rotation and being eligible, offers himself for re-appointment
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundRe-appointment compliant with law. No concerns on merit of appointee. Governance Concern: Director holds 2 full-time positions.
    4 for1 against
  • Appointment of Mr. Tetsuya Hojo (DIN: 10725951) as a Non - Executive Director
    5 for0 against
  • Appointment of Ms. Pallavi Dinodia Gupta (DIN: 06566637) as an Independent Director
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundMs. Pallavi Dinodia Gupta, 43, is Partner at S. R. Dinodia & Co. LLP, a tax consultancy firm. She is a chartered accountant having over twenty years of experience in finance, taxation and corporate advisory. She previously served as an independent director on the board of this company from 13 August 2014 till 28 May 2018. She has completed a cooling off period of at least five years with the promoter group. However, we note that Pallavi Dinodia Gupta is an Independent Director on the board of four listed companies (including Lumax Industries Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as Partner at S.R. Dinodia & Co., her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies is not in keeping with the spirit of the regulation. Hence, we do not support her appointment.
    4 for1 against
  • Appointment of Mr. Harish Lakshman (DIN: 00012602) as an Independent Director
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundAppointment compliant with law. Governance Concern: Excessive time commitment. Proposed appointees hold executive directorship in competitor companies.
    4 for1 against
  • Appointment of Mr. Pradeep Singh Jauhar (DIN: 00744518) as an Independent Director
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundAppointment compliant with law. Governance Concern: Proposed appointees hold executive directorship in competitor companies.
    4 for1 against
  • Ratification of Remuneration of Cost Auditors for Financial Year 2024-25
    5 for0 against
  • Approval of Material Related Party Transactions with Lumax Auto Technologies Limited
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Transparency Concern: No clarity as to how the RPTs are in the Ordinary Course of Business, as they also include sale/purchase/transfer of assets – Company has not specified the value pertaining to such sale/purchase/transfer of assets.
    4 for1 against

Mutual fund votes, meeting of 2 Aug 2024, 4 fund houses

  • Approval for appointment of Mr Tomohiro Kondo (DIN: 10637013) as a Non - Executive Director.
    4 for0 against

Mutual fund votes, meeting of 29 Dec 2023, 3 fund houses

  • Approval for Reappointment of Mr. Tadayoshi Aoki (DIN: 08053387) as Senior Executive Director - Whole Time Director (Key Managerial Personnel) of the Company for a period of 3 years.
    3 for0 against
  • Approval for the payment of minimum remuneration to Mr. Deepak Jain (DIN: 00004972) Chairman and Managing Director (Key Managerial Personnel) for the remaining period of his existing tenure
    Against Bandhan Mutual Fund, Bank of India Mutual Fund
    • Bandhan Mutual FundAppointment Compliant with law. Governance concern: Concentration of power in the hands of a single person (as CMD); Holds 2 full time positions; No Absolute Cap on Variable Pay.
    • Bank of India Mutual FundDeepak Jain, 47, is part of the promoter group and is currently the company’s Chairperson and Managing Director. He received remuneration of Rs. 74.5 mn in FY23, which was 230.5x the median employee remuneration. We estimate his remuneration for FY24 at Rs. 85.6 mn, which is slightly higher than peers and not commensurate with the size and scale of the company. We raise concern that over the past five years, the growth in his remuneration has outpaced company performance. In FY23, his remuneration increased by 56.1%, while median employee remuneration decreased by 14%. The proposed terms of remuneration enable Deepak Jain to receive upto 5% of net profits as commission, without an absolute cap. We expect companies to disclose performance metrics that will determine variable pay and cap the remuneration payable in absolute terms. Further, along with Anmol Jain, the promoters holding executive capacity are eligible to receive commission upto 7% of profits – which is relatively high and uncapped in absolute amounts.
    1 for2 against
  • Approval for the payment of minimum remuneration to Mr. Anmol Jain (DIN: 00004993) Joint Managing Director (Key Managerial Personnel) for the remaining period of his existing tenure.
    3 for0 against

Mutual fund votes, meeting of 28 Sep 2023, 3 fund houses

  • Approval of Material Related Party Transactions with Lumax Auto Technologies Limited.
    3 for0 against

Mutual fund votes, meeting of 22 Aug 2023, 3 fund houses

  • To receive, consider and adoptna) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the Reports of the Board of Directors and Auditors thereon; and nb) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023 together with the Report of Auditors thereon.MoreLess
    3 for0 against
  • To declare a dividend of Rs. 27/- per equity share asnrecommended by the Board of Directors for the FinancialnYear ended March 31, 2023
    3 for0 against
  • To appoint a Director in place of Mr Toru Tanabe (DIN: 06883767), who retires by rotation and being eligible offers himself for re-appointment.
    Against Bandhan Mutual Fund, Bank of India Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance concern: Low attendance in AGM and Board meetings
    • Bank of India Mutual FundToru Tanabe, 64, represents Stanley Electric, a promoter on the board. He has been on the board of the company since 30 May 2014. He attended three out of six board meetings (50%) in FY23. He has attended only six out of a total of seventeen board meetings (35%) since FY21. We expect directors to take their responsibilities seriously and attend all board meetings; else, at the very least, 75% of the board meetings over a three-year period. We do not support his reappointment.
    1 for2 against
  • APPOINTMENT OF MR RAAJESH KUMAR GUPTA (DIN:00988790) AS AN EXECUTIVE DIRECTOR
    3 for0 against
  • APPOINTMENT OF MR YOSHITSUGU MATSUSHITAn(DIN:10185011) AS A NON - EXECUTIVE DIRECTOR
    3 for0 against
  • RATIFICATION OF REMUNERATION OF COST AUDITORS FOR FY 2023-24
    3 for0 against

Mutual fund votes, meeting of 24 Mar 2023, 1 fund house

  • APPROVAL FOR RE-APPOINTMENT OF MR. VINEET SAHNI (DIN: 03616096) AS SENIOR EXECUTIVE DIRECTOR – WHOLE TIME DIRECTOR AND CEO (KEY MANAGERIAL PERSONNEL) OF THE COMPANY
    1 for0 against
  • APPROVAL FOR RE-APPOINTMENT OF MR. KENJIRO NAKAZONO (DIN: 08753913) AS EXECUTIVE DIRECTOR – WHOLE TIME DIRECTOR (KEY MANAGERIAL PERSONNEL) OF THE COMPANY.
    1 for0 against
  • APPROVAL FOR RE-APPOINTMENT OF MRS. RITIKA MODI (DIN: 00463560) AS AN INDEPENDENT DIRECTOR OF THE COMPANY FOR THE SECOND TERM OF 5 YEARS
    1 for0 against

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

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeDCIT Central Circle-28 DelhiSince 30 Oct 2023
    There is no further development in the matter during the Quarter.
    At the filing before: Receipt of Order u/s 92CA(3) of Income Tax Act 1961 dated October 30, 2023 from the Income Tax Authority for the Assessment year 2021-22 wherein DC/ACIT TP 2(2)(2), Delhi has made cumulative adjustments of Rs. 26,72,41,248/- and has asked the Assessing officer to enhance the income of the Company for the AY 2021-22 by Rs. 26,72,41,248/-. An appeal has been filed with CIT(A) on 20.03.2024 against the addition made by DCIT Central Circle-28. Tax Impact excluding interest and Penalty-Rs. 9,33,84,782/-. Last notice was received on 28/05/2026 from CIT(A)-29 and the Company had made a submission on 12/6/2026 for transfer of case to another CIT(A) handling the cases of TP additions.MoreLess
  • Tax disputeCommissioner of Customs (Nhava Sheva)Since 31 Jan 2021
    There is no further development in the matter during the Quarter, the date of hearing of is yet to be fixed.
    At the filing before: Enquiry Operations have been conducted by DRI at 2 Locations at Gurugram, Haryana.Demand order for Rs. 1315.56 Lakhs (Principal amount), along with the Interest and penalty as applicable over and above the said amount, was received by the Company against which the Company had filed an appeal against the order on 30/07/2024 with customs, excise and Service Tax Appellate Tribunal, Mumbai. The date of hearing of is yet to be fixed.MoreLess
  • Tax disputeDCIT Central Circle-28 DelhiSince 29 Mar 2025
    There is no further development in the matter during the Quarter.
    At the filing before: Receipt of Order u/s 92CA(3) of Income Tax Act 1961 dated January 27, 2025 from the Income Tax Authority for the Assessment year 2022-23 wherein DC/ACIT TP 2(2)(2), Delhi has made cumulative adjustments of Rs. 24,01,67,040/- and has asked the Assessing officer to enhance the income of the Company for the AY 2022-23 by Rs. 24,01,67,040/-.Final order received from DCIT Central Circle-28 on 29/5/2025 and confirmed the proposed adjustment by TPO. An appeal has been filed with CIT(A) on 26.06.2025 against the addition made by DCIT Central Circle-28.Tax impact excluding interest and Penalty-Rs.8,39,23,970/-. The Company has filed an appeal with CIT(A) on 26/6/2025 after receipt of final order from DCIT Central Circle-28 on 29/5/2025.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 1 complaint 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
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.