Maruti Suzuki India logo

Maruti Suzuki India CEO, MD, chairman, board of directors and AGM

NSE: MARUTIBSE: 532500AutomobilesLarge Cap

Formerly Maruti Udyog
Last close ₹11,230.00up ₹60.00 (0.54%)BSE ₹11,258.95

Share price at the NSE close on 23 Oct 2026. Previous close ₹11,170.00.

52-week range of traded prices to 23 Oct 2026
₹10,985.00Low, 22 Oct 2026₹17,370.00High, 5 Jan 2026
Market cap
₹3,53,074 Cr12th largest listed
P/E
24.6
P/B
3.3
Dividend yield
1.25%
ROE
14.1%
ROCE
13.2%
Debt to equity
0.00
Volume, NSE
3,33,25347.9% delivered

Maruti Suzuki India board of directors

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

  • ChairpersonRAVINDRA CHANDRA BHARGAVA
  • Managing director and CEOHISASHI TAKEUCHI
  • Company Secretary and Compliance OfficerSanjeev Grover

12 directors4 independent4 executive4 non-executive

  • RAVINDRA CHANDRA BHARGAVA · ChairpersonNon-executive · joined Jul 2003 · reappointed Jul 2003 · 2 listed boards · 1 as independent · 1 committee seat, 1 as chair
  • HISASHI TAKEUCHI · Managing director and CEOExecutive · joined Jul 2019 · reappointed Apr 2025 · 2 listed boards · 1 committee seat
  • KAZUNARI YAMAGUCHIExecutive · joined Jan 2024 · reappointed Feb 2024 · 2 listed boards
  • KENICHIRO TOYOFUKUExecutive · joined Dec 2019 · reappointed Dec 2025 · 1 listed board
  • SUNIL KUMAR KAKKARExecutive · joined Apr 2025 · reappointed Apr 2025 · 2 listed boards
  • TOSHIHIRO SUZUKINon-executive · joined Oct 2013 · reappointed Sep 2015 · 1 listed board
  • KENICHI AYUKAWANon-executive · joined Jul 2008 · reappointed Oct 2022 · 1 listed board
  • KOICHI SUZUKINon-executive · joined Apr 2025 · reappointed Aug 2025 · 1 listed board
  • LIRA GOSWAMIIndependent · joined Aug 2019 · reappointed Aug 2024 · 82 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • MAHESWAR SAHUIndependent · joined May 2020 · reappointed May 2025 · 74 months as independent · 6 listed boards · 4 as independent · 5 committee seats, 4 as chair
  • ANJALI BANSALIndependent · joined Aug 2024 · reappointed Aug 2024 · 22 months as independent · 4 listed boards · 4 as independent · 5 committee seats
  • IREENA VITTALIndependent · joined Aug 2024 · reappointed Aug 2024 · 22 months as independent · 3 listed boards · 3 as independent · 4 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.

2 directors who left
  • KINJI SAITO, left 26 Apr 2025: Others
  • OSAMU SUZUKI, left 25 Dec 2024: Others

Committees and meetings

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

  • Board

    • 28 Apr 202612 of 12 present4 independent · 34 days in between
    • 24 Mar 202612 of 12 present4 independent · 54 days in between
    • 28 Jan 202612 of 12 present4 independent

  • Audit Committee

    Chair MAHESWAR SAHU

    LIRA GOSWAMI, ANJALI BANSAL, IREENA VITTAL

    • 28 Apr 20264 of 4 present4 independent · 18 days in between
    • 9 Apr 20264 of 4 present4 independent · 15 days in between
    • 24 Mar 20264 of 4 present4 independent · 54 days in between
    • 28 Jan 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair LIRA GOSWAMI

    RAVINDRA CHANDRA BHARGAVA, MAHESWAR SAHU, ANJALI BANSAL

    • 28 Apr 20264 of 4 present3 independent · 34 days in between
    • 24 Mar 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair RAVINDRA CHANDRA BHARGAVA

    HISASHI TAKEUCHI, IREENA VITTAL

    • 24 Mar 20263 of 3 present1 independent

  • Risk Management Committee

    Chair RAVINDRA CHANDRA BHARGAVA

    HISASHI TAKEUCHI, KAZUNARI YAMAGUCHI, KENICHIRO TOYOFUKU, MAHESWAR SAHU, ANJALI BANSAL, IREENA VITTAL

    • 5 Feb 20267 of 7 present3 independent

  • Corporate Social Responsibility Committee

    Chair RAVINDRA CHANDRA BHARGAVA

    HISASHI TAKEUCHI, LIRA GOSWAMI, ANJALI BANSAL

    • 24 Mar 20264 of 4 present2 independent

  • SUSTAINABILITY COMMITTEE

    Chair RAVINDRA CHANDRA BHARGAVA

    HISASHI TAKEUCHI, KENICHIRO TOYOFUKU, MAHESWAR SAHU, LIRA GOSWAMI, ANJALI BANSAL, IREENA VITTAL

    No meeting listed in the filing.

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
1 earlier auditor
  • Deloitte Haskins & Sells LLPNamed in the filing for the quarter to Mar 2025

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.

Maruti Suzuki India 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.Maruti Suzuki India dividend history

Annual general meeting, 31 Aug 2026

4,25,701 shareholders on the register on 24 Aug 2026; present: 1 promoter and 110 others; votes counted by Mr. Manish Gupta / RMG & Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March 2026 and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.13% · other public 8.07%

    Turnout: all 92.34% · promoters 100.00% · institutions 93.18% · other public 0.15%

  2. To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March 2026 and the report of the Auditors thereon.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.13% · other public 8.07%

    Turnout: all 92.34% · promoters 100.00% · institutions 93.18% · other public 0.15%

  3. To declare dividend on equity shares of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.54%

    Turnout: all 92.70% · promoters 100.00% · institutions 94.18% · other public 0.15%

  4. To appoint a Director in place of Mr. Kazunari Yamaguchi, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.61% for1.39% against

    Against: promoters 0.00% · institutions 3.77% · other public 11.42%

    Turnout: all 92.69% · promoters 100.00% · institutions 94.17% · other public 0.15%

  5. To appoint a Director in place of Mr. Toshihiro Suzuki, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.75% for1.25% against

    Against: promoters 0.00% · institutions 3.40% · other public 11.15%

    Turnout: all 92.69% · promoters 100.00% · institutions 94.17% · other public 0.15%

  6. To ratify the remuneration of the Cost Auditor, M/s R.J. Goel & Co., Cost Accountants.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 10.20%

    Turnout: all 92.69% · promoters 100.00% · institutions 94.17% · other public 0.15%

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.

Annual general meeting, 28 Aug 2025, 11 resolutions

3,70,235 shareholders on the register on 21 Aug 2025; present: 1 promoter and 127 others; votes counted by Mr. Manish Gupta / RMG & Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March 2025 and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.12% · other public 4.08%

    Turnout: all 92.63% · promoters 100.00% · institutions 88.69% · other public 0.30%

  2. To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March 2025 and the report of the Auditors thereon.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.12% · other public 4.08%

    Turnout: all 92.63% · promoters 100.00% · institutions 88.69% · other public 0.30%

  3. To declare dividend on equity shares of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

  4. To appoint a director in place of Mr. Kenichi Ayukawa, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.34% for1.66% against

    Against: promoters 0.00% · institutions 4.44% · other public 6.24%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

  5. To appoint a director in place of Mr. Kenichiro Toyofuku, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.27% for1.73% against

    Against: promoters 0.00% · institutions 4.63% · other public 6.23%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

  6. To appoint Price Waterhouse Chartered Accountants LLP (“PW”) as Statutory Auditors and to fix their remuneration.
    Ordinary
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 0.65% · other public 7.55%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.55% · other public 0.30%

  7. To alter the Object Clause of the Memorandum of Association of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.42%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

  8. To appoint Mr. Koichi Suzuki as a Director.
    Ordinary
    98.60% for1.40% against

    Against: promoters 0.00% · institutions 3.76% · other public 5.27%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

  9. To re-appoint Mr. Kenichiro Toyofuku as Whole-time Director designated as Director (Sustainability).
    Ordinary
    98.33% for1.67% against

    Against: promoters 0.00% · institutions 4.48% · other public 5.57%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

  10. To ratify the remuneration of the Cost Auditor, M/s R.J. Goel & Co., Cost Accountants.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.23%

    Turnout: all 92.96% · promoters 100.00% · institutions 89.54% · other public 0.30%

  11. To appoint RMG & Associates as Secretarial Auditors and to fix their remuneration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.05%

    Turnout: all 92.97% · promoters 100.00% · institutions 89.56% · other public 0.30%

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

Postal ballot, 17 Jun 2025, 4 resolutions

3,85,156 shareholders on the register on 9 May 2025; votes counted by Mr. Sachin Khurana / RMG & Associates.The company's voting result (opens in a new tab)

  1. To appoint Mr. Sunil Kumar Kakkar (DIN: 08041054) as a Director of the Company
    Ordinary
    98.59% for1.41% against

    Against: promoters 0.00% · institutions 3.78% · other public 5.55%

    Turnout: all 93.08% · promoters 100.00% · institutions 89.96% · other public 0.45%

  2. To appoint Mr. Sunil Kumar Kakkar (DIN: 08041054) as a Whole-time Director designated as Director (Corporate Planning)
    Ordinary
    98.74% for1.26% against

    Against: promoters 0.00% · institutions 3.36% · other public 7.09%

    Turnout: all 93.08% · promoters 100.00% · institutions 89.96% · other public 0.45%

  3. To appoint Mr. Koichi Suzuki (DIN: 11061966) as a Director of the Company
    Ordinary
    98.52% for1.48% against

    Against: promoters 0.00% · institutions 3.96% · other public 7.58%

    Turnout: all 93.08% · promoters 100.00% · institutions 89.96% · other public 0.45%

  4. To appoint Price Waterhouse Chartered Accountants LLP ('PW') as Statutory Auditors and to fix their remuneration
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.47% · other public 8.89%

    Turnout: all 93.08% · promoters 100.00% · institutions 89.96% · other public 0.45%

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.

Postal ballot, 21 Mar 2025, 18 resolutions

3,90,274 shareholders on the register on 14 Feb 2025; votes counted by MR. MANISH GUPTA / RMG & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Hisashi Takeuchi (DIN: 07806180) as Managing Director and Chief Executive Officer
    Ordinary
    99.35% for0.65% against

    Against: promoters 0.00% · institutions 1.77% · other public 5.19%

    Turnout: all 92.38% · promoters 100.00% · institutions 88.42% · other public 0.37%

  2. Re-appointment of Mr. Maheswar Sahu (DIN: 00034051) as Independent Director
    Special
    98.95% for1.05% against

    Against: promoters 0.00% · institutions 2.84% · other public 6.97%

    Turnout: all 92.38% · promoters 100.00% · institutions 88.42% · other public 0.37%

  3. Approval of the Material Related Party Transactions with Suzuki Motor Corporation
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 5.73%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  4. Approval of the Material Related Party Transactions with Suzuki Motor Corporation
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 5.73%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  5. Approval of the Material Related Party Transactions with FMI Automotive Components Private Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  6. Approval of the Material Related Party Transactions with SKH Metals Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  7. Approval of the Material Related Party Transactions with Jay Bharat Maruti Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.13%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  8. Approval of the Material Related Party Transactions with Krishna Maruti Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.13%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  9. Approval of the Material Related Party Transactions with Bharat Seats Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.44%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  10. Approval of the Material Related Party Transactions with TDS Lithium-Ion Battery Gujarat Private Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  11. Approval of the Material Related Party Transactions with Suzuki Motorcycle India Private Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  12. Approval of the Material Related Party Transactions with Bellsonica Auto Component India Private Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  13. Approval of the Material Related Party Transactions with Mark Exhaust Systems Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  14. Approval of the Material Related Party Transactions with Marelli Powertrain India Private Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  15. Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Suzuki Motor Corporation
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.13%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  16. Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Krishna Maruti Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  17. Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Jay Bharat Maruti Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

  18. Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and TDS Lithium-Ion Battery Gujarat Private Limited
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.03% · other public 6.31%

    Turnout: all 34.12% · promoters 0.00% · institutions 88.50% · other public 0.37%

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 Aug 2024, 13 resolutions

Present: 1 promoter and 132 others.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March, 2024 and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.10% · other public 0.95%

    Turnout: all 91.81% · promoters 100.00% · institutions 87.33% · other public 0.31%

  2. To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March, 2024 and the report of the Auditors thereon.
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.10% · other public 0.96%

    Turnout: all 91.81% · promoters 100.00% · institutions 87.33% · other public 0.31%

  3. To declare dividend on equity shares of the Company.
    Ordinary
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.35% · other public 0.83%

    Turnout: all 92.13% · promoters 100.00% · institutions 88.17% · other public 0.31%

  4. To appoint a Director in place of Mr. Toshihiro Suzuki, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    97.70% for2.30% against

    Against: promoters 0.00% · institutions 6.23% · other public 2.55%

    Turnout: all 92.12% · promoters 100.00% · institutions 88.14% · other public 0.31%

  5. To appoint a Director in place of Mr. Hisashi Takeuchi, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.89% for1.11% against

    Against: promoters 0.00% · institutions 3.03% · other public 2.59%

    Turnout: all 92.12% · promoters 100.00% · institutions 88.15% · other public 0.31%

  6. To continue the appointment of Mr. Ravindra Chandra Bhargava as a Non-Executive Director.
    Special
    95.79% for4.21% against

    Against: promoters 0.00% · institutions 11.45% · other public 2.88%

    Turnout: all 92.10% · promoters 100.00% · institutions 88.11% · other public 0.31%

  7. To continue the appointment of Mr. Osamu Suzuki as a Non-Executive Director.
    Special
    97.07% for2.93% against

    Against: promoters 0.00% · institutions 7.95% · other public 2.21%

    Turnout: all 92.12% · promoters 100.00% · institutions 88.15% · other public 0.31%

  8. To ratify the remuneration of the Cost Auditor, M/s R. J. Goel & Co., Cost Accountants.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.47%

    Turnout: all 92.11% · promoters 100.00% · institutions 88.13% · other public 0.31%

  9. To appoint Ms. Anjali Bansal as an Independent Director.
    Special
    98.69% for1.31% against

    Against: promoters 0.00% · institutions 3.56% · other public 3.19%

    Turnout: all 92.12% · promoters 100.00% · institutions 88.14% · other public 0.31%

  10. To appoint Ms. Ireena Vittal as an Independent Director.
    Special
    98.98% for1.02% against

    Against: promoters 0.00% · institutions 2.77% · other public 3.01%

    Turnout: all 92.12% · promoters 100.00% · institutions 88.15% · other public 0.31%

  11. To re-appoint Ms. Lira Goswami as an Independent Director.
    Special
    98.27% for1.73% against

    Against: promoters 0.00% · institutions 4.69% · other public 3.05%

    Turnout: all 92.10% · promoters 100.00% · institutions 88.10% · other public 0.31%

  12. To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited (SMG) and Suzuki Motor Corporation, Japan (SMC).
    OrdinaryPromoters have an interest in it
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 0.16% · other public 2.34%

    Turnout: all 33.91% · promoters 0.00% · institutions 88.11% · other public 0.31%

  13. To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited (SMG) and Krishna Maruti Limited (KML).
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.31%

    Turnout: all 33.91% · promoters 0.00% · institutions 88.11% · other public 0.31%

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, 15 Mar 2024, 2 resolutions

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

  1. Appointment of Mr. Kazunari Yamaguchi as a Director of the Company
    Ordinary
    93.32% for6.68% against

    Against: promoters 0.00% · institutions 18.82% · other public 9.01%

    Turnout: all 90.18% · promoters 100.00% · institutions 82.95% · other public 0.47%

  2. Appointment of Mr. Kazunari Yamaguchi as a Whole-time Director designated as Director (Production)
    Ordinary
    93.58% for6.42% against

    Against: promoters 0.00% · institutions 18.11% · other public 9.73%

    Turnout: all 90.18% · promoters 100.00% · institutions 82.95% · other public 0.47%

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, 16 Nov 2023, 2 resolutions

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

  1. To approve Related Party Transaction
    OrdinaryPromoters have an interest in it
    98.21% for1.79% against

    Against: promoters 0.00% · institutions 1.96% · other public 0.05%

    Turnout: all 33.41% · promoters 0.00% · institutions 85.00% · other public 39.07%

  2. To create, offer, issue and allot equity shares on preferential basis for consideration other than cash
    Special
    98.91% for1.09% against

    Against: promoters 0.00% · institutions 3.21% · other public 0.06%

    Turnout: all 89.90% · promoters 100.00% · institutions 85.00% · other public 39.07%

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

Annual general meeting, 29 Aug 2023, 7 resolutions

Present: 1 promoter and 127 others.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.97% for0.03% against

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

    Turnout: all 89.01% · promoters 100.00% · institutions 83.66% · other public 32.55%

  2. To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March, 2023 and the report of the Auditors thereon.
    Ordinary
    99.97% for0.03% against

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

    Turnout: all 89.01% · promoters 100.00% · institutions 83.66% · other public 32.55%

  3. To declare dividend on equity share of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.34% · promoters 100.00% · institutions 83.80% · other public 36.18%

  4. To appoint a Director in place of Mr. Kinji Saito, who retires by rotation and being eligible, offers himself for re- appointment.
    Ordinary
    88.66% for11.34% against

    Against: promoters 0.00% · institutions 33.64% · other public 0.02%

    Turnout: all 89.33% · promoters 100.00% · institutions 83.79% · other public 36.18%

  5. To appoint a Director in place of Mr. Kenichi Ayukawa, who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    85.00% for15.00% against

    Against: promoters 0.00% · institutions 44.51% · other public 0.02%

    Turnout: all 89.33% · promoters 100.00% · institutions 83.79% · other public 36.18%

  6. To appoint Mr. Yukihiro Yamashita as a Director and Whole-time Director designated as Joint Managing Director (Engineering and Quality Assurance).
    Ordinary
    91.32% for8.68% against

    Against: promoters 0.00% · institutions 25.76% · other public 0.02%

    Turnout: all 89.33% · promoters 100.00% · institutions 83.79% · other public 36.17%

  7. To ratify the remuneration of the Cost Auditor, M/s R.J. Goel & Co., Cost Accountants.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.30% · promoters 100.00% · institutions 83.69% · other public 36.17%

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 31 Aug 2026, 17 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March 2026 and the reports of the Board of Directors and Auditors thereon.
    17 for0 against
  • To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March 2026 and the report of the Auditors thereon.
    17 for0 against
  • To declare dividend on equity shares of the Company.
    17 for0 against
  • To appoint a Director in place of Mr. Kazunari Yamaguchi, who retires by rotation and being eligible, offers himself for re-appointment.
    17 for0 against
  • To appoint a Director in place of Mr. Toshihiro Suzuki, who retires by rotation and being eligible, offers himself for re-appointment.
    17 for0 against
  • To ratify the remuneration of the Cost Auditor, M/s R.J. Goel & Co., Cost Accountants.
    17 for0 against

Mutual fund votes, meeting of 28 Aug 2025, 38 fund houses

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

  • To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March 2025 and the reports of the Board of Directors and Auditors thereon.
    38 for0 against
  • To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March 2025 and the report of the Auditors thereon.
    38 for0 against
  • To declare dividend on equity shares of the Company.
    37 for0 against
  • To appoint a director in place of Mr. Kenichi Ayukawa, who retires by rotation and being eligible, offers himself for re-appointment.
    38 for0 against
  • To appoint a director in place of Mr. Kenichiro Toyofuku, who retires by rotation and being eligible, offers himself for re-appointment.
    37 for0 against
  • To appoint Price Waterhouse Chartered Accountants LLP (“PW”) as Statutory Auditors and to fix their remuneration.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual Fund, LIC Mutual FundGovernance & Transparency Concern: Lack of clarity on law related to independence and term of Auditors at Japan and intent of Parent Company to ensure that Indian law will also be taken into account at the next change in Auditors.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Zerodha Mutual FundAppointment compliant with law. No concern on the merits of proposed Auditors. Governance & Transparency Concern: Lack of clarity on law related to independence and term of Auditors at Japan and intent of Parent Company to ensure that Indian law will also be taken into account at the next change in Auditors.
    30 for8 against
  • To alter the Object Clause of the Memorandum of Association of the Company.
    38 for0 against
  • To appoint Mr. Koichi Suzuki as a Director.
    38 for0 against
  • To re-appoint Mr. Kenichiro Toyofuku as Whole-time Director designated as Director (Sustainability).
    38 for0 against
  • To ratify the remuneration of the Cost Auditor, M/s R.J. Goel & Co., Cost Accountants.
    37 for0 against
  • To appoint RMG & Associates as Secretarial Auditors and to fix their remuneration.
    38 for0 against
3 proposals not matched to one resolution
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 10, as a fund house numbered it
    1 for0 against
6 earlier meetings

Mutual fund votes, meeting of 17 Jun 2025, 38 fund houses

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

  • To appoint Mr. Sunil Kumar Kakkar (DIN: 08041054) as a Director of the Company
    37 for0 against
  • To appoint Mr. Sunil Kumar Kakkar (DIN: 08041054) as a Whole-time Director designated as Director (Corporate Planning)
    38 for0 against
  • To appoint Mr. Koichi Suzuki (DIN: 11061966) as a Director of the Company
    38 for0 against
  • To appoint Price Waterhouse Chartered Accountants LLP ('PW') as Statutory Auditors and to fix their remuneration
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Lack of clarity on law related to independence and term of Auditors at Japan and intent of Parent Company to ensure that Indian law will also be taken into account at the next change in Auditors.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundAppointment compliant with law. Governance Concern: Lack of clarity on law related to independence and term of Auditors at Japan and intent of Parent Company to ensure that Indian law will also be taken into account at the next change in Auditors.
    • Mirae Asset Mutual FundRoutine business activity
    • PGIM India Mutual FundLack of clarity on law related to independence and term of Auditors at Japan, and intent of Parent Company to ensure that Indian law will also be taken into account at the next change in Auditors
    30 for8 against
1 proposal not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 21 Mar 2025, 33 fund houses

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

  • Re-appointment of Mr. Hisashi Takeuchi (DIN: 07806180) as Managing Director and Chief Executive Officer
    Against Groww Mutual Fund
    • Groww Mutual FundRe-appointment compliant with law. No concern on the merits of the appointee. Transparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
    32 for1 against
  • Re-appointment of Mr. Maheswar Sahu (DIN: 00034051) as Independent Director
    Against Groww Mutual Fund
    • Groww Mutual FundRe-appointment compliant with law. No concern on the merits of the appointee. Transparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
    32 for1 against
  • Approval of the Material Related Party Transactions with Suzuki Motor Corporation
    Against Groww Mutual Fund
    • Groww Mutual FundProposed RPTs are compliant with law. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant.
    27 for1 against
  • Approval of the Material Related Party Transactions with Suzuki Motor Corporation
    Against Groww Mutual Fund
    • Groww Mutual FundProposed RPTs are compliant with law. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant.
    27 for1 against
  • Approval of the Material Related Party Transactions with FMI Automotive Components Private Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    31 for1 against
  • Approval of the Material Related Party Transactions with SKH Metals Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    32 for1 against
  • Approval of the Material Related Party Transactions with Jay Bharat Maruti Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    28 for1 against
  • Approval of the Material Related Party Transactions with Krishna Maruti Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    28 for1 against
  • Approval of the Material Related Party Transactions with Bharat Seats Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    32 for1 against
  • Approval of the Material Related Party Transactions with TDS Lithium-Ion Battery Gujarat Private Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    31 for1 against
  • Approval of the Material Related Party Transactions with Suzuki Motorcycle India Private Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    32 for1 against
  • Approval of the Material Related Party Transactions with Bellsonica Auto Component India Private Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    32 for1 against
  • Approval of the Material Related Party Transactions with Mark Exhaust Systems Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    32 for1 against
  • Approval of the Material Related Party Transactions with Marelli Powertrain India Private Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    32 for1 against
  • Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Suzuki Motor Corporation
    Against Groww Mutual Fund
    • Groww Mutual FundProposed RPTs are compliant with law. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant.
    27 for1 against
  • Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Krishna Maruti Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    28 for1 against
  • Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Jay Bharat Maruti Limited
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliant with SEBI LODR: Omnibus approval sought for more than 1 year. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant
    28 for1 against
  • Approval of the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and TDS Lithium-Ion Battery Gujarat Private Limited
    Against Groww Mutual Fund
    • Groww Mutual FundProposed RPTs are compliant with law. Governance & Transparency Concern: Inadequate disclosures w.r.t basis of pricing w.r.t verification of pricing by Pricing consultant.
    32 for1 against
21 proposals not matched to one resolution
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against
  • Item 8, as a fund house numbered it
    1 for0 against
  • Item 10, as a fund house numbered it
    1 for0 against
  • Item 15, as a fund house numbered it
    1 for0 against
  • Approve related party transactions between Suzuki Motor Gujarat Private Limited (wholly owned subsidiary) and Jay Bharat Maruti Limited (associate company) not exceeding Rs. 12.5 bn for three years from FY26MoreLess
    2 for0 against
  • Approve related party transactions between Suzuki Motor Gujarat Private Limited (wholly owned subsidiary) and Krishna Maruti Limited (associate company) not exceeding Rs. 32.5 bn per annum, for three years from FY26MoreLess
    2 for0 against
  • Approve related party transactions between Suzuki Motor Gujarat Private Limited (wholly owned subsidiary) and Suzuki Motor Corporation, Japan (holding company) not exceeding Rs. 295.0 bn per annum, for three years from FY26MoreLess
    2 for0 against
  • Approve related party transactions with Jay Bharat Maruti Limited (JBML) for purchase and sale of goods and services for an aggregate value of Rs. 24.0 bn per annum for three years from FY26
    2 for0 against
  • Approve related party transactions with Krishna Maruti Limited (Krishna Maruti): associate company for the purchase and sale of goods and services for an aggregate value of Rs. 40.0 bn per annum for three years from FY26MoreLess
    2 for0 against
  • Approve related party transactions with Suzuki Motor Corporation: Holding Company for purchase of goods and availing services for an aggregate value of Rs. 77.0 bn per annum, for three years from FY26
    2 for0 against
  • Approve related party transactions with Suzuki Motor Corporation: Holding Company for sale of goods and rendering of services for an aggregate value of Rs. 404.0 bn per annum, for three years from FY26MoreLess
    2 for0 against
  • To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Jay Bharat Maruti Limited, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027- 28 and for an aggregate value not exceeding INR 1,250 Crores.MoreLess
    2 for0 against
  • To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Krishna Maruti Limited, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027- 28 and for an aggregate value not exceeding INR 3,250 Crores.MoreLess
    2 for0 against
  • To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited and Suzuki Motor Corporation, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027- 28 and for an aggregate value not exceeding INR 29,500 Crores.MoreLess
    2 for0 against
  • To approve the Material Related Party Transactions with Jay Bharat Maruti Limited, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027- 28 and for an aggregate value not exceeding INR 2,400 Crores.MoreLess
    1 for0 against
  • To approve the Material Related Party Transactions with Krishna Maruti Limited, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027-28 and for an aggregate value not exceeding INR 4,000 Crores.MoreLess
    1 for0 against
  • To approve the Material Related Party Transactions with Suzuki Motor Corporation, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027- 28 and for an aggregate value not exceeding INR 40,400 Crores.MoreLess
    2 for0 against
  • To approve the Material Related Party Transactions with Suzuki Motor Corporation, for a period of 3 (three) years commencing from the financial year 2025- 26 to financial year 2027- 28 and for an aggregate value not exceeding INR 7,700 Crores.MoreLess
    2 for0 against

Mutual fund votes, meeting of 27 Aug 2024, 31 fund houses

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

  • To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March, 2024 and the reports of the Board of Directors and Auditors thereon.
    30 for0 against
  • To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March, 2024 and the report of the Auditors thereon.
    30 for0 against
  • To declare dividend on equity shares of the Company.
    30 for0 against
  • To appoint a Director in place of Mr. Toshihiro Suzuki, who retires by rotation and being eligible, offers himself for re-appointment.
    31 for0 against
  • To appoint a Director in place of Mr. Hisashi Takeuchi, who retires by rotation and being eligible, offers himself for re-appointment.
    31 for0 against
  • To continue the appointment of Mr. Ravindra Chandra Bhargava as a Non-Executive Director.
    31 for0 against
  • To continue the appointment of Mr. Osamu Suzuki as a Non-Executive Director.
    31 for0 against
  • To ratify the remuneration of the Cost Auditor, M/s R. J. Goel & Co., Cost Accountants.
    30 for0 against
  • To appoint Ms. Anjali Bansal as an Independent Director.
    Against Bank of India Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund, Taurus Mutual Fund
    • Bank of India Mutual Fund, Sundaram Mutual Fund, Taurus Mutual FundMs. Anjali Bansal, 53, is the Founding Partner of Avaana Climate and Sustainability Fund (Avaana) - investing in technology and innovation-led start-ups catalyzing climate solutions and sustainability. She has a bachelor’s degree in computer engineering from Gujarat University and a master’s from Columbia University. We note that she serves on the boards of four listed companies (Nestle India Limited, Voltas Limited, The Tata Power Company Limited and Piramal Enterprises Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. As a Founding Partner of Avaana, we believe her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies are not in keeping with the spirit of the regulation.
    • Invesco Mutual FundMs. Anjali Bansal, 53, is the Founding Partner of Avaana Climate and Sustainability Fund (Avaana) - investing in technology and innovation-led start-ups catalyzing climate solutions and sustainability. She has a bachelor’s degree in computer engineering from Gujarat University and a master’s from Columbia University. We note that she serves on the boards of four listed companies (Nestle India Limited, Voltas Limited, The Tata Power Company Limited and Piramal Enterprises Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. As a Founding Partner of Avaana, we believe her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies are not in keeping with the spirit of the regulation. This is in line with our ESG framework
    27 for4 against
  • To appoint Ms. Ireena Vittal as an Independent Director.
    31 for0 against
  • To re-appoint Ms. Lira Goswami as an Independent Director.
    Against Bank of India Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund, Taurus Mutual Fund
    • Bank of India Mutual Fund, Sundaram Mutual Fund, Taurus Mutual FundMs. Lira Goswami, 65, is one of the founding partners of Associated Law Advisers (ALA). She has a law degree from Delhi University, a master's degree from Columbia University, New York and over 40 years of experience in corporate, commercial and regulatory issues including international business transactions and strategic advisory work. She has attended all nine board meetings held in FY24. As per , one of her firm’s clients include Suzuki Motor Corporation – this has not been disclosed in the AGM notice. Owing to this conflict, we do not support her reappointment as an Independent Director.
    • Invesco Mutual FundMs. Lira Goswami, 65, is one of the founding partners of Associated Law Advisers (ALA). She has a law degree from Delhi University, a master's degree from Columbia University, New York and over 40 years of experience in corporate, commercial and regulatory issues including international business transactions and strategic advisory work. She has attended all nine board meetings held in FY24. As per public sources, one of her firm’s clients include Suzuki Motor Corporation – this has not been disclosed in the AGM notice. Owing to this conflict, we do not support her reappointment as an Independent Director. This is in line with our ESG framework
    27 for4 against
  • To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited (SMG) and Suzuki Motor Corporation, Japan (SMC).
    Against Bajaj Finserv Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund
    • Bajaj Finserv Mutual Fund, Groww Mutual Fund, JM Financial Mutual FundCompliant with law. Transparency concern: Inadequate disclosures regarding basis on arm’s length pricing.
    28 for3 against
  • To approve the Material Related Party Transactions between Suzuki Motor Gujarat Private Limited (SMG) and Krishna Maruti Limited (KML).
    31 for0 against
4 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 8, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 15 Mar 2024, 31 fund houses

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

  • Appointment of Mr. Kazunari Yamaguchi as a Director of the Company
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by a non-executive director and the board is not at least one-third independent and Kazunari Yamaguchi is a non-independent director nominee.
    29 for1 against
  • Appointment of Mr. Kazunari Yamaguchi as a Whole-time Director designated as Director (Production)
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by a non-executive director and the board is not at least one-third independent and Kazunari Yamaguchi is a non-independent director nominee.
    29 for1 against
2 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 16 Nov 2023, 33 fund houses

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

  • To approve Related Party Transaction
    32 for0 against
  • To create, offer, issue and allot equity shares on preferential basis for consideration other than cash
    32 for0 against
2 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
    1 for0 against

Mutual fund votes, meeting of 29 Aug 2023, 31 fund houses

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

  • To consider and adopt the audited standalone financial statements of the Company for the financial year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon.
    30 for0 against
  • To consider and adopt the audited consolidated financial statements of the Company for the financial year ended 31st March, 2023 and the report of the Auditors thereon.
    30 for0 against
  • To declare dividend on equity share of the Company.
    30 for0 against
  • To appoint a Director in place of Mr. Kinji Saito, who retires by rotation and being eligible, offers himself for re- appointment.
    Against HSBC Mutual Fund, SBI Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: The board is chaired by a non-executive director and the board is not at least one-third independent nominee.
    • SBI Mutual FundKinji Saito, 65, represents Suzuki Motor Corporation (SMC) on the board. SMC holds 56.48% in the company as on 30 June 2023. He joined Suzuki Motor Corporations in 1981 and He is currently designated as Director and Senior Managing Officer, responsible for global automotive marketing, marine and motorcycle operations, and Executive General Manager, Global Automobile Marketing for Suzuki Motor Corporation. He has attended all five board meetings in FY23. SBIMF’s internal proxy voting guidelines do not allow us to vote in favour of promoter directors’ or promoter director representatives’ appointment/re-appointment if the board is not 50% independent both in number and spirit irrespective of the chairman of the board being an independent director. This is in line with the Kotak committee recommendations. We observe that there are 12 Board of Directors (BODs), out of which 4 are classified as independent directors. Hence, the effective independence of the board at SBI MF framework is assessed at 33%. We wish to clarify that we do not have any doubt about the competency of the directors or director representatives. Our only concern is <50% independence on the board. Hence, we do not support the resolution.
    28 for2 against
  • To appoint a Director in place of Mr. Kenichi Ayukawa, who retires by rotation and being eligible, offers himself for re-appointment.
    Against HSBC Mutual Fund, SBI Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: The board is chaired by a non-executive director and the board is not at least one-third independent nominee.
    • SBI Mutual FundKenichi Ayukawa, 67, represents Suzuki Motor Corporation, Japan on the board. SMC holds 56.48% equity in the company as on 30 June 2023. He was MSIL’s Managing Director from 1 April 2013 to 31 March 2022 and was redesignated as the Executive Vice-Chairperson of the company from 1 April 2022 till 30 September 2022. He is currently the Executive Vice President and Chief Marketing Officer (CMO) at Suzuki Motor Corporation responsible for India Operations and Finance. He is serving on the board since 2008 when he joined as Non-Executive Director. He has attended all five board meetings in FY23. SBIMF’s internal proxy voting guidelines do not allow us to vote in favour of promoter directors’ or promoter director representatives’ appointment/re-appointment if the board is not 50% independent both in number and spirit irrespective of the chairman of the board being an independent director. This is in line with the Kotak committee recommendations. We observe that there are 12 Board of Directors (BODs), out of which 4 are classified as independent directors. Hence, the effective independence of the board at SBI MF framework is assessed at 33%. We wish to clarify that we do not have any doubt about the competency of the directors or director representatives. Our only concern is <50% independence on the board. Hence, we do not support the resolution
    28 for2 against
  • To appoint Mr. Yukihiro Yamashita as a Director and Whole-time Director designated as Joint Managing Director (Engineering and Quality Assurance).
    Against HSBC Mutual Fund, SBI Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: The board is chaired by a non-executive director and the board is not at least one-third independent nominee.
    • SBI Mutual FundYukihiro Yamashita, 55, Joined Suzuki Motor Corporation in 2018 as Vice Executive General Manager of Automobile Engineering and was promoted to Managing Officer in 2019. He was elevated to Director, Senior Managing Officer and Chief Technology Officer in 2021 and he was responsible for Vehicle Regulations and Engineering Administration, Product Planning, Automobile Vehicle Engineering, Automobile Powertrain Engineering, and Automobile Electrical/Electronic Engineering. SBIMF’s internal proxy voting guidelines do not allow us to vote in favour of promoter directors’ or promoter director representatives’ appointment/re-appointment if the board is not 50% independent both in number and spirit irrespective of the chairman of the board being an independent director. This is in line with the Kotak committee recommendations. We observe that there are 12 Board of Directors (BODs), out of which 4 are classified as independent directors. Hence, the effective independence of the board at SBI MF framework is assessed at 33%. We wish to clarify that we do not have any doubt about the competency of the directors or director representatives. Our only concern is <50% independence on the board. Hence, we do not support the resolution
    28 for2 against
  • To ratify the remuneration of the Cost Auditor, M/s R.J. Goel & Co., Cost Accountants.
    30 for0 against
7 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against

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

Fines

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyIndore Nagar Nigam (Municipal Corporation, Indore)Since 8 Apr 2026

    Issuance of Property tax demand notice for Financial Year 2026-27 by Indore Nagar Nigam which includes for the first time, levy of property tax on Marginal Open Space (MOS), pursuant to gazette notification dated 09.08.2021. The MOS component has been applied retrospectively from FY 2022–23 to FY 2026–27, resulting in additional arrears along with penalty.

    The Levy pertains to retrospective application of property tax on Marginal Open Space (MOS) by the Municipal Authority and no specific violation or contravention has been alleged against the Company.

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

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
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.