Madhav Marbles and Granites CEO, MD, chairman, board of directors and AGM
NSE: MADHAVBSE: 515093Consumer DurablesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹32.70.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹27 Cr3,749th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 29 May 2026
- 0.2
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 13 Aug 2026
- −0.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 13 Aug 2026
- −3.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 29 May 2026
- 0.07
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 4,59860.3% delivered
Madhav Marbles and Granites 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
- ChairpersonDEVENDRA MANCHANDA
- Managing director and CEOMADHAV DOSHI
- Company Secretary and Compliance OfficerPRIYANKA MANAWAT
6 directors4 independent2 executive
- DEVENDRA MANCHANDA · ChairpersonIndependent · joined Nov 2024 · 24 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- ARUMUGAM SIVADASANIndependent · joined Apr 2024 · 36 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- MADHAV DOSHI · Managing director and CEOExecutive · joined May 2018 · 2 listed boards
- RIDDHIMA DOSHIExecutive · joined Feb 2021 · 1 listed board · 2 committee seats
- PACHAMPET YEGNASWAMY VENKATARAMANIndependent · joined Apr 2024 · 36 months as independent · 1 listed board · 1 as independent
- SURBHI YADAVIndependent · joined Apr 2025 · 60 months as independent · 1 listed board · 1 as independent
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.
2 directors who left
- RAVI KUMAR KRISHNAMURTHI, left 31 Mar 2025: Tenure Completion
- SWATI YADAV, left 28 Feb 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 13 Aug 20265 of 6 present3 independent · 61 days in between
- 12 Jun 20263 of 6 present2 independent
Audit Committee
Chair DEVENDRA MANCHANDA
ARUMUGAM SIVADASAN, RIDDHIMA DOSHI
- 13 Aug 20263 of 3 present2 independent · 75 days in between
- 29 May 20263 of 3 present2 independent
Nomination and remuneration committee
Chair SURBHI YADAV
ARUMUGAM SIVADASAN, DEVENDRA MANCHANDA
- 1 Aug 20262 of 3 present2 independent
- 4 Sep 20252 of 3 present2 independent
Stakeholders Relationship Committee
Chair ARUMUGAM SIVADASAN
RIDDHIMA DOSHI, DEVENDRA MANCHANDA
- 1 Aug 20263 of 3 present2 independent · 105 days in between
- 17 Apr 20263 of 3 present2 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.
- Nyati and AssociatesPeer-review certificate valid to Jul 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.
Madhav Marbles and Granites 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.Madhav Marbles and Granites dividend history
Annual general meeting, 30 Sep 2026
8,592 shareholders on the register on 23 Sep 2026; present: 2 promoters and 47 others; votes counted by RONAK JHUTHAWAT / RONAK JHUTHAWAT AND CO.The company's voting result (opens in a new tab)
TO RECEIVE CONSIDER AND ADOPT AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS OF THE COMPANY CONSISTING OF THE BALANCE SHEET, STATEMENT OF PROFIT AND LOSS, CASH FLOW STATEMENT AND STATEMENT OF CHANGES OF EQUITY AS AT MARCH 31, 2026MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 23.21% · promoters 32.46% · institutions 0.00% · other public 15.86%
- TO RE- APPOINT MRS RIDDHIMA DOSHI AS A DIRECTOR LIABLE TO RETIRE BY ROTATIONOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Re-appointment of Mr. Devendra Manchanda as an Independent Director for a second term of 3 years commencing from November 01, 2026Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Re-appointment of Mr. Pachampet Yegnaswamy Venkataraman as an Independent Director of the Company for a second term of 2 years commencing from April 01, 2027Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Re-appointment of Mr. Arumugam Sivadasan as an Independent Director for the second term of 5 years commencing from April 05, 2027Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Re-appointment of Mrs. Riddhima Doshi as the Whole Time DirectorSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Re- appointment of Mr. Madhav Doshi as CEO and Managing DirectorSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Approval of Material Related Party Transactions with Madhav Ashok Ventures Private LimitedOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Approval of Material Related Party Transactions with Madhav Surfaces FZC LLCOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Approval of Material Related Party Transactions with Madhav Natural Stone Surfaces Private LimitedOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- To make Loan and Investment exceeding the ceiling prescribed under section 186 of the Companies Act, 2013Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Giving Loan and Guarantee or providing Security in connection with Loan availed by any specified person under Section 185 of the Companies Act, 2013Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Approval of Material Related Party TransactionsOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
- Approval of Material Related Party TransactionsOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 8.66% · promoters 0.00% · institutions 0.00% · other public 15.86%
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.
Extraordinary general meeting, 6 Jul 2026, 3 resolutions
8,648 shareholders on the register on 29 Jun 2026; present: 0 promoters and 56 others; votes counted by RONAK JHUTHAWAT / RONAK JHUTHAWAT AND CO.The company's voting result (opens in a new tab)
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH MADHAV ASHOK VENTURES PRIVATE LIMITEDOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.39% · promoters 0.00% · institutions 0.00% · other public 0.72%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTION WITH MADHAV SURFACES FZC LLCOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.39% · promoters 0.00% · institutions 0.00% · other public 0.72%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTION WITH MADHAV NATURAL STONE SURFACES PRIVATE LIMITEDOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.39% · promoters 0.00% · institutions 0.00% · other public 0.72%
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 2025, 6 resolutions
9,062 shareholders on the register on 23 Sep 2025; present: 2 promoters and 39 others; votes counted by RONAK JHUTHAWAT / RONAK JHUTHAWAT AND CO..The company's voting result (opens in a new tab)
- ADOPTION OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTSOrdinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 1.76%
Turnout: all 22.95% · promoters 50.81% · institutions 0.00% · other public 0.53%
- APPOINTMENT OF DIRECTOR RETIRING BY ROTATIONOrdinaryPromoters have an interest in it98.24% for1.76% against
Against: promoters 0.00% · institutions 0.00% · other public 1.76%
Turnout: all 0.29% · promoters 0.00% · institutions 0.00% · other public 0.53%
- APPOINTMENT OF SECRETARIAL AUDITOROrdinary98.24% for1.76% against
Against: promoters 0.00% · institutions 0.00% · other public 1.76%
Turnout: all 0.29% · promoters 0.00% · institutions 0.00% · other public 0.53%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH MADHAV ASHOK VENTURES PRIVATE LIMITEDOrdinaryPromoters have an interest in it98.24% for1.76% against
Against: promoters 0.00% · institutions 0.00% · other public 1.76%
Turnout: all 0.29% · promoters 0.00% · institutions 0.00% · other public 0.53%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH MADHAV NATURAL STONE SURFACES PRIVATE LIMITEDOrdinaryPromoters have an interest in it98.24% for1.76% against
Against: promoters 0.00% · institutions 0.00% · other public 1.76%
Turnout: all 0.29% · promoters 0.00% · institutions 0.00% · other public 0.53%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONS WITH MADHAV SURFACES FZC LLCOrdinaryPromoters have an interest in it98.24% for1.76% against
Against: promoters 0.00% · institutions 0.00% · other public 1.76%
Turnout: all 0.29% · promoters 0.00% · institutions 0.00% · other public 0.53%
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.
Extraordinary general meeting, 4 Jul 2025, 1 resolution
9,167 shareholders on the register on 26 Jun 2025; present: 2 promoters and 32 others; votes counted by RONAK JHUTHAWAT / RONAK JHUTHAWAT & CO.The company's voting result (opens in a new tab)
- TO APPOINT MS. SURBHI YADAV AS INDEPENDENT DIRECTORSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.13% · promoters 0.00% · institutions 0.00% · other public 0.24%
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.
Extraordinary general meeting, 9 Dec 2024, 2 resolutions
Present: 2 promoters and 44 others.The company's voting result (opens in a new tab)
- TO APPOINT MR. DEVENDRA MANCHANDA AS INDEPENDENT DIRECTORSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.26%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONSOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.26%
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, 2 resolutions
Present: 1 promoter and 32 others.The company's voting result (opens in a new tab)
- TO RECEIVE CONSIDER AND ADOPT AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED MARCH 31, 2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.52%
Turnout: all 25.37% · promoters 58.14% · institutions 0.00% · other public 0.14%
- REAPPOINTMENT OF DIRECTOR RETIRING BY ROTATIONOrdinaryPromoters have an interest in it99.48% for0.52% against
Against: promoters 0.00% · institutions 0.00% · other public 0.52%
Turnout: all 0.08% · promoters 0.00% · institutions 0.00% · other public 0.14%
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.
Extraordinary general meeting, 18 May 2024, 5 resolutions
Present: 0 promoters and 41 others.The company's voting result (opens in a new tab)
- TO RE-APPOINT MRS. RIDDHIMA DOSHI AS WHOLE TIME DIRECTORSpecialPromoters have an interest in it79.95% for20.05% against
Against: promoters 0.00% · institutions 0.00% · other public 20.05%
Turnout: all 0.47% · promoters 0.00% · institutions 0.00% · other public 0.83%
- APPOINTMENT OF MR. PACHAMPET YEGNASWAMY VENKATARAMAN AS INDEPENDENT DIRECTORSpecial99.24% for0.76% against
Against: promoters 0.00% · institutions 0.00% · other public 20.05%
Turnout: all 12.39% · promoters 27.42% · institutions 0.00% · other public 0.83%
- APPOINTMENT OF MR ARUMUGAM SIVADASAN AS INDEPENDENT DIRECTORSpecial99.24% for0.76% against
Against: promoters 0.00% · institutions 0.00% · other public 20.05%
Turnout: all 12.39% · promoters 27.42% · institutions 0.00% · other public 0.83%
- TO REAPPOINT MR. MADHAV DOSHI AS CEO AND MANAGING DIRECTORSpecialPromoters have an interest in it79.95% for20.05% against
Against: promoters 0.00% · institutions 0.00% · other public 20.05%
Turnout: all 0.47% · promoters 0.00% · institutions 0.00% · other public 0.83%
- APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONSOrdinaryPromoters have an interest in it79.95% for20.05% against
Against: promoters 0.00% · institutions 0.00% · other public 20.05%
Turnout: all 0.47% · promoters 0.00% · institutions 0.00% · other public 0.83%
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, 3 resolutions
Present: 0 promoters and 46 others.The company's voting result (opens in a new tab)
- ORDINARY RESOLUTION FOR RECEIVING, CONSIDERING AND ADOPTION OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS AS ON MARCH 31, 2023, REPORT OF BOARD OF DIRECTORS AND AUDITORS THEREONOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.11%
Turnout: all 15.26% · promoters 33.99% · institutions 0.00% · other public 1.24%
- ORDINARY RESOLUTION FOR RE-APPOINTMENT OF Mr. MADHAV DOSHI AS DIRECTOR WHO RETIRES BY ROTATIONOrdinaryPromoters have an interest in it99.89% for0.11% against
Against: promoters 0.00% · institutions 0.00% · other public 0.11%
Turnout: all 0.71% · promoters 0.00% · institutions 0.00% · other public 1.24%
- ORDINARY RESOLUTION FOR APPROVAL OF MATERIAL RELATED PARTY TRANSACTIONSOrdinaryPromoters have an interest in it99.89% for0.11% against
Against: promoters 0.00% · institutions 0.00% · other public 0.11%
Turnout: all 0.71% · promoters 0.00% · institutions 0.00% · other public 1.24%
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.
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
- 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
- No
- The chair is related to the managing director
- No
- 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.