Lumax Auto Technologies logo

Lumax Auto Technologies MD, chairman, board of directors and AGM

NSE: LUMAXTECHBSE: 532796Auto ComponentsSmall Cap

Last close ₹1,807.70down ₹9.70 (0.53%)BSE ₹1,800.40

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,817.40.

52-week range of traded prices to 23 Oct 2026
₹1,120.00Low, 31 Oct 2025₹2,190.00High, 23 Sep 2026
Market cap
₹12,321 Cr525th largest listed
P/E
38.0
P/B
10.2
Dividend yield
0.30%
ROE
30.2%
ROCE
21.6%
Debt to equity
0.68
Volume, NSE
1,21,93840.1% delivered

Lumax Auto Technologies 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

  • ChairpersonDHANESH KUMAR JAINRelated to the promoter
  • Managing directorANMOL JAIN
  • Company Secretary and Compliance OfficerPANKAJ MAHENDRU

8 directors4 independent2 executive2 non-executive

  • DHANESH KUMAR JAIN · ChairpersonExecutive · joined Oct 1981 · reappointed May 2026 · 0 months as independent · 1 listed board
  • ANMOL JAIN · Managing directorExecutive · joined Apr 2004 · reappointed May 2026 · 0 months as independent · 2 listed boards · 1 committee seat
  • DEEPAK JAINNon-executive · joined Aug 2013 · reappointed Jul 2022 · 0 months as independent · 2 listed boards · 3 committee seats, 1 as chair
  • SANJAY MEHTANon-executive · joined Dec 2017 · reappointed Aug 2021 · 0 months as independent · 1 listed board · 1 committee seat, 1 as chair
  • AVINASH PARKASH GANDHIIndependent · joined Nov 2018 · reappointed Nov 2023 · 95 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 2 as chair
  • DIVIYA CHANANAIndependent · joined Aug 2022 · reappointed Aug 2022 · 50 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • ARUN KUMAR MALHOTRAIndependent · joined Jul 2018 · reappointed Jul 2023 · 98 months as independent · 2 listed boards · 2 as independent · 4 committee seats
  • PARAG CHANDULAL SHAHIndependent · joined Jul 2024 · reappointed Jul 2024 · 26 months as independent · 4 listed boards · 4 as independent · 5 committee seats

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.

Committees and meetings

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

  • Board

    • 10 Aug 20268 of 8 present4 independent · 72 days in between
    • 29 May 20268 of 8 present4 independent · 20 days in between
    • 8 May 20267 of 8 present4 independent

  • Audit Committee

    Chair AVINASH PARKASH GANDHI

    ARUN KUMAR MALHOTRA, PARAG CHANDULAL SHAH, ANMOL JAIN, DIVIYA CHANANA

    • 10 Aug 20265 of 5 present4 independent · 72 days in between
    • 29 May 20264 of 4 present3 independent · 20 days in between
    • 8 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair ARUN KUMAR MALHOTRA

    DEEPAK JAIN, AVINASH PARKASH GANDHI

    • 10 Aug 20263 of 3 present2 independent · 72 days in between
    • 29 May 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair DEEPAK JAIN

    PARAG CHANDULAL SHAH, ARUN KUMAR MALHOTRA

    • 10 Aug 20263 of 3 present2 independent · 72 days in between
    • 29 May 20263 of 3 present1 independent

  • Risk Management Committee

    Chair AVINASH PARKASH GANDHI

    ANMOL JAIN, SANJAY MEHTA, VIKAS MARWAH, ANKIT THAKRAL

    • 10 Aug 20263 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair DEEPAK JAIN

    DHANESH KUMAR JAIN, DIVIYA CHANANA

    • 29 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.

  • Price Waterhouse Chartered Accountants LLPPeer-review certificate valid to Nov 2026

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

Lumax Auto Technologies 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 Auto Technologies dividend history

Annual general meeting, 26 Aug 2026

60,757 shareholders on the register on 20 Aug 2026; present: 4 promoters and 75 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 thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.89% · promoters 100.00% · institutions 86.14% · other public 2.59%

  2. To declare a dividend of Rs. 5.50/- per equity share of Rs. 2/- 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 0.04%

    Turnout: all 78.92% · promoters 100.00% · institutions 86.23% · other public 2.59%

  3. 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
    97.67% for2.33% against

    Against: promoters 0.00% · institutions 6.21% · other public 0.05%

    Turnout: all 59.96% · promoters 66.14% · institutions 86.23% · other public 2.59%

  4. Material Related Party Transactions with Lumax Industries Limited
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 22.94% · promoters 0.00% · institutions 86.23% · other public 2.59%

  5. 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 0.04%

    Turnout: all 78.92% · promoters 100.00% · institutions 86.23% · other public 2.59%

  6. Approval for the transactions under Section 185 of the Companies Act, 2013
    SpecialPromoters have an interest in it
    84.03% for15.97% against

    Against: promoters 0.00% · institutions 29.14% · other public 0.11%

    Turnout: all 41.00% · promoters 32.28% · institutions 86.23% · other public 2.59%

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

Postal ballot, 26 Dec 2025, 2 resolutions

49,687 shareholders on the register on 21 Nov 2025; votes counted by MANEESH GUPTA / MANEESH GUPTA.The company's voting result (opens in a new tab)

  1. Approval for Re-appointment of Mr. Dhanesh Kumar Jain (DIN: 00085848) as Executive Chairman - Whole Time Director (Key Managerial Personnel) of the Company for a period of 3 years.
    SpecialPromoters have an interest in it
    92.05% for7.95% against

    Against: promoters 0.00% · institutions 29.75% · other public 0.01%

    Turnout: all 79.37% · promoters 99.47% · institutions 86.37% · other public 12.79%

  2. Approval for Re-appointment of Mr. Anmol Jain (DIN: 00004993) as Managing Director (Key Managerial Personnel) of the Company for a period of 5 years.
    SpecialPromoters have an interest in it
    89.56% for10.44% against

    Against: promoters 0.00% · institutions 29.90% · other public 0.01%

    Turnout: all 60.72% · promoters 66.14% · institutions 86.37% · other public 12.79%

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, 6 resolutions

42,630 shareholders on the register on 19 Aug 2025; present: 4 promoters and 78 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 78.88% · promoters 100.00% · institutions 83.25% · other public 13.45%

  2. To declare a dividend of Rs. 5.50/- 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 78.90% · promoters 100.00% · institutions 83.31% · other public 13.45%

  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
    99.78% for0.23% against

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

    Turnout: all 59.94% · promoters 66.13% · institutions 83.31% · other public 13.45%

  4. 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 78.90% · promoters 100.00% · institutions 83.31% · other public 13.45%

  5. Material Related Party Transactions with Lumax Industries Limited.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 22.92% · promoters 0.00% · institutions 83.31% · other public 13.45%

  6. 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 0.01%

    Turnout: all 78.90% · promoters 100.00% · institutions 83.31% · other public 13.45%

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

Annual general meeting, 27 Sep 2024, 9 resolutions

Present: 4 promoters and 63 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopttna) 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; andnb) 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 0.00%

    Turnout: all 74.61% · promoters 100.00% · institutions 78.60% · other public 4.16%

  2. To declare a dividend of Rs. 5.50/- 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 0.00%

    Turnout: all 74.63% · promoters 100.00% · institutions 78.68% · other public 4.16%

  3. To appoint a Director in place of Mr. Sanjay Mehta (DIN: 06434661), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.96% for1.04% against

    Against: promoters 0.00% · institutions 4.38% · other public 0.01%

    Turnout: all 74.63% · promoters 100.00% · institutions 78.68% · other public 4.16%

  4. To appoint Price Waterhouse Chartered Accountants LLP (Firm Registration No. 012754N/N500016) as Statutory Auditors of the Company, to hold office from the conclusion of this Annual General Meeting until the conclusion of the Forty Eighth (48th) Annual General Meeting of the Company and to fix their remuneration.MoreLess
    Ordinary
    98.73% for1.27% against

    Against: promoters 0.00% · institutions 5.32% · other public 0.01%

    Turnout: all 74.63% · promoters 100.00% · institutions 78.68% · other public 4.16%

  5. Payment of Remuneration to Mr. Deepak Jain, Non-Executive Director
    SpecialPromoters have an interest in it
    14.42% for85.58% against

    Against: promoters 0.00% · institutions 89.87% · other public 0.05%

    Turnout: all 18.65% · promoters 0.00% · institutions 78.68% · other public 4.16%

  6. Material Related Party Transactions with Lumax Industries Limited
    OrdinaryPromoters have an interest in it
    94.94% for5.06% against

    Against: promoters 0.00% · institutions 5.32% · other public 0.02%

    Turnout: all 18.65% · promoters 0.00% · institutions 78.68% · other public 4.15%

  7. Appointment of Mr. Parag Chandulal Shah (DIN: 00374944) as a Non-Executive Independent Director
    Special
    97.66% for2.34% against

    Against: promoters 0.00% · institutions 10.21% · other public 0.01%

    Turnout: all 73.74% · promoters 100.00% · institutions 74.74% · other public 4.15%

  8. 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 0.01%

    Turnout: all 74.63% · promoters 100.00% · institutions 78.68% · other public 4.16%

  9. Approval For Enhancement of Limits for Giving Loans, Guarantees, Providing Securities & making Investments by the Company under Section 186 of the Companies Act, 2013
    Special
    80.32% for19.68% against

    Against: promoters 0.00% · institutions 82.70% · other public 0.15%

    Turnout: all 74.63% · promoters 100.00% · institutions 78.68% · other public 4.15%

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, 2 resolutions

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

  1. Payment of Remuneration to Mr. Deepak Jain, Non-Executive Director.
    SpecialPromoters have an interest in it
    91.95% for8.05% against

    Against: promoters 0.00% · institutions 8.41% · other public 1.67%

    Turnout: all 22.89% · promoters 0.00% · institutions 86.94% · other public 6.35%

  2. Material Related Party Transactions with Lumax Industries Limited
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 22.89% · promoters 0.00% · institutions 86.94% · other public 6.35%

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, 4 resolutions

Present: 4 promoters and 67 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, 2023, together with the Reports of the Board of Directors and Auditors thereon; andnb) 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
    100.00% for0.00% against

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

    Turnout: all 64.70% · promoters 100.00% · institutions 34.80% · other public 0.20%

  2. To declare a dividend of Rs. 4.50/- per equity share as recommended by the Board of Directors for the Financial Year ended March 31, 2023.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 64.75% · promoters 100.00% · institutions 35.03% · other public 0.20%

  3. 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
    98.29% for1.71% against

    Against: promoters 0.00% · institutions 12.70% · other public 0.13%

    Turnout: all 64.75% · promoters 100.00% · institutions 35.03% · other public 0.20%

  4. 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 0.13%

    Turnout: all 64.75% · promoters 100.00% · institutions 35.03% · other public 0.20%

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, 18 May 2023, 1 resolution

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

  1. Approval for Increase in the borrowing limits under section 180 of thenCompanies Act, 2013
    Special
    91.10% for8.90% against

    Against: promoters 0.00% · institutions 58.83% · other public 5.94%

    Turnout: all 66.09% · promoters 100.00% · institutions 39.25% · other public 0.68%

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, 6 resolutions

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

  1. Approval for Re-appointment of Mr. Dhanesh Kumar Jain (DIN: 00085848) asnExecutive Chairman- Whole Time Director (Key Managerial Personnel) of thenCompany
    SpecialPromoters have an interest in it
    89.25% for10.75% against

    Against: promoters 0.00% · institutions 37.02% · other public 0.03%

    Turnout: all 82.02% · promoters 99.47% · institutions 94.23% · other public 13.48%

  2. Approval for Re-appointment of Mr. Anmol Jain (DIN: 00004993) as ManagingnDirector (Key Managerial Personnel) of the Company
    SpecialPromoters have an interest in it
    86.09% for13.91% against

    Against: promoters 0.00% · institutions 37.02% · other public 0.03%

    Turnout: all 63.36% · promoters 66.14% · institutions 94.23% · other public 13.48%

  3. Approval for Re-appointment of Mr. Arun Kumar Malhotra (DIN: 00132951) asnan Independent Director of the Company for the second term of 5 years.
    Special
    99.72% for0.28% against

    Against: promoters 0.00% · institutions 0.96% · other public 0.03%

    Turnout: all 82.32% · promoters 100.00% · institutions 94.23% · other public 13.48%

  4. Approval for Re-appointment of Mr. Avinash Parkash Gandhi (DIN: 00161107)nas an Independent Director of the Company for the second term of 5 years.
    Special
    93.61% for6.39% against

    Against: promoters 0.00% · institutions 22.10% · other public 0.03%

    Turnout: all 82.32% · promoters 100.00% · institutions 94.23% · other public 13.48%

  5. Approval for Adoption of new set of Memorandum of Association of thenCompany as per Companies Act, 2013.
    Special
    97.90% for2.10% against

    Against: promoters 0.00% · institutions 7.24% · other public 0.08%

    Turnout: all 82.32% · promoters 100.00% · institutions 94.23% · other public 13.48%

  6. Approval for Adoption of new set of Articles of Association of the Companynas per Companies Act, 2013.
    Special
    89.29% for10.71% against

    Against: promoters 0.00% · institutions 37.02% · other public 0.05%

    Turnout: all 82.32% · promoters 100.00% · institutions 94.23% · other public 13.48%

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.

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, 6 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.

  • 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 thereon.MoreLess
    6 for0 against
  • To declare a dividend of Rs. 5.50/- per equity share of Rs. 2/- each, as recommended by the Board of Directors for the Financial Year ended March 31, 2026.
    6 for0 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 Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern: Director holds two full-time positions.
    5 for1 against
  • Material Related Party Transactions with Lumax Industries Limited
    6 for0 against
  • Ratification of Remuneration of Cost Auditors for Financial Year 2026-27
    6 for0 against
  • Approval for the transactions under Section 185 of the Companies Act, 2013
    1 for0 against
1 proposal not matched to one resolution
  • To advance loan(s) in one or more tranches (including loans represented by way of book debt), and/or give guarantee(s), and/or provide security(ies) in connection with any loan taken or to be taken by any entity in which any of the Directors of the Company is interested or deemed to be interested as specified in the Explanation to Section 185(2) of the Act (collectively referred to as the Entities), for an aggregate amount not exceeding Rs. 500 Crores at any given time.MoreLess
    Against Angel One Mutual Fund, LIC Mutual Fund, Quantum Mutual Fund
    • Angel One Mutual FundInadequate disclosures with regards to the particulars mandated u/s 185 of Companies Act, 2013. Governance Concern: Enabling Approval with Inadequate disclosures – Generic justification and non-disclosure of the recipient(s) of the investments, loans, guarantees and security.
    • LIC Mutual FundNon-Compliant with Section 185 of the Companies Act: Inadequate disclosures w.r.t. the particulars mandated u/s 185 of Companies Act, 2013. Governance Concern: Enabling Approval with Inadequate disclosures Generic justification and non-disclosure of the recipient(s) of the investments, loans, guarantees and security.
    • Quantum Mutual FundThe company seeks approval to provide loans, guarantee, and security of up to Rs. 5.0 billion. However, the proposal does not provide sufficient details on the entities that may benefit, the company’s economic interest in these entities, or whether the proposed support would be proportionate to such interest. Further, the rationale and need for extending such financial assistance have not been adequately explained. Given the lack of clarity and adequate disclosures, we do not support the resolution.
    2 for3 against

Mutual fund votes, meeting of 26 Dec 2025, 12 fund houses

  • Approval for Re-appointment of Mr. Dhanesh Kumar Jain (DIN: 00085848) as Executive Chairman - Whole Time Director (Key Managerial Personnel) of the Company for a period of 3 years.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Trust Mutual Fund
    • Angel One Mutual FundThe Company did not seek specific shareholders’ approval for continuation beyond the age of 70 years under his re-appointment. Governance Concern: Director holds combined position as Chairman and Executive Director, which may lead to concentration of power; No absolute cap on variable pay.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant w.r.t Section 196 of the Companies Act, 2013: The Company did not seek specific shareholders’ approval for continuation beyond the age of 70 years under his re-appointment. Governance Concern: Director holds combined position as Chairman and Executive Director, which may lead to concentration of power; No absolute cap on variable pay
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundNon-Compliant with Section 196(3) of the Companies Act, 2013: No specific approval sought for continuation beyond the age of 70 years. Governance Concern: Director's combined role as chairman and executive director risks power concentration
    • Trust Mutual FundNon-Compliant w.r.t Section 196 of the Companies Act, 2013: The Company did not seek specific shareholders’ approval for continuation beyond the age of 70 years under his re-appointment. Governance Concern: Director holds combined position as Chairman and Executive Director, which may lead to concentration of power; No absolute cap on variable pay. His remuneration terms also include reimbursement of expenses on any medical assistance/expenses incurred for himself and his respective family members at actuals. We believe such expenses should be borne by the employee and not the company, given the personal nature of such expenses.
    5 for7 against
  • Approval for Re-appointment of Mr. Anmol Jain (DIN: 00004993) as Managing Director (Key Managerial Personnel) of the Company for a period of 5 years.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Trust Mutual Fund
    • Angel One Mutual FundGovernance Concern: No absolute cap on variable pay.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: No absolute cap on variable payvar
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundGovernance Concern: No absolute cap on variable pay
    • Trust Mutual Fundthere are no disclosures on the performance metrics that determine variable commission. We expect companies to disclose performance metrics and cap the remuneration payable in absolute terms. His remuneration terms also include reimbursement of expenses on any medical assistance/expenses incurred for himself and his respective family members at actuals. We believe such expenses should be borne by the employee and not the company, given the personal nature of such expenses. We raise concern that Deepak Jain, brother of Anmol Jain, is a member of the Nomination and Remuneration Committee which creates a conflict of interest
    5 for7 against
2 earlier meetings

Mutual fund votes, meeting of 25 Aug 2025, 6 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
    6 for0 against
  • To declare a dividend of Rs. 5.50/- per equity share as recommended by the Board of Directors for the Financial Year ended March 31, 2025.
    6 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 Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with the law. Governance Concern: Time commitment of Mr. Deepak Jain appears excessive, as he Holds two full-time positions as Managing Director in entities which does not hold any substantial stake in each other.
    5 for1 against
  • Appointment of Mr. Maneesh Gupta, Practicing Company Secretary as Secretarial Auditor of the Company for 5 (Five) consecutive years.
    6 for0 against
  • Material Related Party Transactions with Lumax Industries Limited.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Transparency Concern: Unclear how purchase & sale of capital goods fall within the ordinary course of business. Compliant with law. No major governance concern identified
    5 for1 against
  • Ratification of remuneration of Cost Auditors for Financial Year 2025-26.
    6 for0 against

Mutual fund votes, meeting of 27 Sep 2024, 4 fund houses

  • To receive, consider and adopttna) 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; andnb) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 together with the Report of Auditors thereon.MoreLess
    4 for0 against
  • To declare a dividend of Rs. 5.50/- per equity share as recommended by the Board of Directors for the financial year ended March 31, 2024.
    4 for0 against
  • To appoint a Director in place of Mr. Sanjay Mehta (DIN: 06434661), who retires by rotation and being eligible, offers himself for re-appointment.
    4 for0 against
  • To appoint Price Waterhouse Chartered Accountants LLP (Firm Registration No. 012754N/N500016) as Statutory Auditors of the Company, to hold office from the conclusion of this Annual General Meeting until the conclusion of the Forty Eighth (48th) Annual General Meeting of the Company and to fix their remuneration.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundAppointment Compliant with law. Governance & Transparency concern: No justification for the material change in the proposed Audit fee as the proposed audit fee is 35% higher comparatively to fees paid to outgoing auditor.
    3 for1 against
  • Payment of Remuneration to Mr. Deepak Jain, Non-Executive Director
    Against Bandhan Mutual Fund, DSP Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Nippon India Mutual FundCompliant with the law. Governance concern: Skewed remuneration towards promoter directors. Holds two full-time positions.
    • DSP Mutual FundDeepak Jain, 49, is part of the promoter family and is currently the Chairperson and Managing Director of Lumax Industries Limited, a group company. During FY24, he received a commission of Rs. 12.4 mn from Lumax Auto Technologies Limited (0.5% of consolidated PBT). No commission was paid to any other non-executive director. The proposed commission to Deepak Jain is being set at 1% of net profits: the commission pay-out has ranged between 0.5% to 0.8% of consolidated PBT.We do not support the resolution as the rationale to pay him remuneration from Lumax Auto Technologies Limited is not clear: he has a full-time role as the Chairperson and Managing Director of Lumax Industries Limited, a group company and received Rs. 82.5 mn as remuneration from that entity in FY24. Additionally, he is entitled to 1% of net profits as commission, therefore no other Non-Executive/Independent Director is able to receive any remuneration, other than sitting fees. The reason for this differential treatment is unclear. Further, his remuneration exceeds that of Ashish Dubey (CFO), a KMP, raising questions over organizational hierarchy. We do not support the resolution.
    1 for3 against
  • Material Related Party Transactions with Lumax Industries Limited
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Transparency concern: No clarity on the type of asset included in RPT proposal and how the RPTs are in the Ordinary Course of Business, as they also include sale/purchase/transfer of assets;
    3 for1 against
  • Appointment of Mr. Parag Chandulal Shah (DIN: 00374944) as a Non-Executive Independent Director
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundAppointment is compliant with the law. Governance concern: The appointee is a partner of the firm which holds 0.89% of the shareholding Company amounts to almost Rs. 35 Crores.
    3 for1 against
  • Ratification of Remuneration of Cost Auditors for Financial Year 2024-25
    4 for0 against
  • Approval For Enhancement of Limits for Giving Loans, Guarantees, Providing Securities & making Investments by the Company under Section 186 of the Companies Act, 2013
    Against Bandhan Mutual Fund, DSP Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Nippon India Mutual FundCompliant with law. Governance & Transparency Concern: Blanket approval proposed without adequate disclosures.
    • DSP Mutual FundThe company has disclosed in the notice that to make optimum use of funds available with the company and also to achieve long term strategic and business objectives including organic or inorganic growth the company may provide loans/investments, acquire or issue guarantees/securities. Further, the company has formed subsidiaries, which may require support from the company. The company states that the current automatic limit is Rs. 6.6 bn, while utilization of the limit is Rs. 4.1 bn (31 March 2024), therefore it needs to increase the limit for further transactions.However, the company has not disclosed in the notice, the granular details of its business plan to justify the transaction limit sought. The approval is enabling, and it could allow the company to give loans / guarantees / provide securities to any company in which directors are interested, including promoter companies. The company must disclose granular details including names of these companies, the nature and size of their operations and terms of support, to enable shareholders to make an informed decision. Given the lack of clarity, we are unable to support the resolution.
    1 for3 against

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

None open at any quarter's end.
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.