Mishra Dhatu Nigam logo

Mishra Dhatu Nigam MD, chairman, board of directors and AGM

NSE: MIDHANIBSE: 541195Aerospace & DefenseSmall Cap

Last close ₹361.65down ₹20.15 (5.28%)BSE ₹361.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹381.80.

52-week range of traded prices to 23 Oct 2026
₹266.65Low, 30 Mar 2026₹482.40High, 8 Sep 2026
Market cap
₹6,775 Cr681st largest listed
P/E
50.2
P/B
4.4
Dividend yield
0.58%
ROE
9.2%
ROCE
9.5%
Debt to equity
0.19
Volume, NSE
6,39,68437.3% delivered

Mishra Dhatu Nigam 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

  • Chairperson and managing directorDr. S. V. S. Narayana Murty
  • Company Secretary and Compliance OfficerPaul Antony

4 directors3 executive1 non-executive

  • Dr. S. V. S. Narayana Murty · Chairperson and managing directorExecutive · joined Apr 2025 · reappointed Apr 2025 · 1 listed board
  • Madhubala KalluriExecutive · joined Jul 2025 · reappointed Jul 2025 · 1 listed board
  • Padavittan BabuExecutive · joined Oct 2025 · reappointed Oct 2025 · 1 listed board
  • Prakash RajpurohitNominee, non-executive · joined Jun 2026 · reappointed Jun 2026 · 1 listed board

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.

9 directors who left
  • Amit Satija, left 4 Jun 2026: Others
  • V. T. Rema, left 17 Apr 2026: Tenure Completion
  • Aruna Sarap, left 17 Apr 2026: Tenure Completion
  • Ajay Kumar Chauhan, left 17 Apr 2026: Tenure Completion
  • Thulasiramanan Muthukumar, left 30 Jun 2025: Tenure Completion
  • Gowri Sankara Rao Naramsetti, left 31 May 2025: Tenure Completion
  • Dr. Sanjay Kumar Jha, left 31 Dec 2024: Tenure Completion
  • Valluri Chakrapani, left 23 Dec 2024: Tenure Completion
  • Shalabh Tyagi, left 10 Dec 2024: Others

Committees and meetings

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

  • Board

    • 29 Jun 20264 of 4 present0 independent · 30 days in between
    • 29 May 20264 of 4 present0 independent · 43 days in between
    • 15 Apr 20267 of 7 present3 independent · 32 days in between
    • 13 Mar 20267 of 7 present3 independent

  • Audit Committee

    Padavittan Babu

    • 12 Feb 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Madhubala Kalluri, Padavittan Babu

    • 30 Mar 20263 of 3 present1 independent · 58 days in between

  • Risk Management Committee

    Chair Dr. S. V. S. Narayana Murty

    Madhubala Kalluri, Padavittan Babu

    • 30 Mar 20264 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair Dr. S. V. S. Narayana Murty

    Madhubala Kalluri, Padavittan Babu

    • 11 Feb 20264 of 4 present1 independent

  • Nomination and remuneration committee

    • 30 Jan 20263 of 3 present3 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.

  • ANJANEYULU & CO.Peer-review certificate valid to May 2027

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

Mishra Dhatu Nigam 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.Mishra Dhatu Nigam dividend history

Annual general meeting, 30 Sep 2026

1,59,943 shareholders on the register on 23 Sep 2026; present: 1 promoter and 62 others; votes counted by CS Navajyoth Puttaparthi / M/s Puttaparthi Jaggannatham & Co..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, 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 and report of the Auditors thereonMoreLess
    Ordinary
    97.15% for2.85% against

    Against: promoters 0.00% · institutions 31.75% · other public 2.22%

    Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%

  2. To confirm payment of interim dividend i.e. Re. 0.85 per equity share of Rs.10 each (i.e. @8.50%) and declare final dividend of Rs. 1.25 per equity Share of Rs. 10/- each (i.e. @12.50%) for the financial year ended on March 31, 2026MoreLess
    Ordinary
    99.33% for0.67% against

    Against: promoters 0.00% · institutions 7.49% · other public 1.87%

    Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%

  3. To appoint a Director in place of Smt. Madhubala Kalluri (DIN: 11202794), who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    98.09% for1.91% against

    Against: promoters 0.00% · institutions 21.25% · other public 3.15%

    Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%

  4. Appointment of Shri Padavittan Babu (DIN: 11233808) as Director (Production and Marketing) of the Company
    Ordinary
    98.07% for1.93% against

    Against: promoters 0.00% · institutions 21.52% · other public 2.98%

    Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%

  5. Appointment of Shri Sameer Mundra (DIN: 00078727) as Independent Director of the Company
    Special
    97.14% for2.86% against

    Against: promoters 0.00% · institutions 32.54% · other public 3.00%

    Turnout: all 81.21% · promoters 100.00% · institutions 76.31% · other public 0.43%

  6. Appointment of Shri Pugazhendhy Arumugam (DIN: 11912614) as Independent Director of the Company
    Special
    96.17% for3.83% against

    Against: promoters 0.00% · institutions 42.69% · other public 3.15%

    Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%

  7. To ratify the remuneration to be paid to SS Zanwar and Associates, Cost Accountants, Cost Accountants as Cost Auditor of the Company for FY 2026-27
    Ordinary
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 2.69% · other public 3.13%

    Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%

  8. Appointment of Ms. Meera Mohanty (DIN: 03379561) as Government Nominee Director of Company
    Ordinary
    96.15% for3.85% against

    Against: promoters 0.00% · institutions 43.03% · other public 4.11%

    Turnout: all 81.34% · promoters 100.00% · institutions 77.72% · other public 0.43%

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, 10 resolutions

1,65,879 shareholders on the register on 23 Sep 2025; present: 1 promoter and 70 others; votes counted by CS Navajyoth Puttaparthi / M/s Puttaparthi Jaggannatham & Co..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, 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 and report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.60% · promoters 100.00% · institutions 83.63% · other public 0.20%

  2. To appoint a Director in place of Dr. S.V.S. Narayana Murty (DIN: 11065319), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.22% for0.78% against

    Against: promoters 0.00% · institutions 7.53% · other public 3.43%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%

  3. Appointment of Dr. S.V.S. Narayana Murty (DIN:11065319) as Chairman & Managing Director of Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
    Ordinary
    99.23% for0.77% against

    Against: promoters 0.00% · institutions 7.46% · other public 3.33%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%

  4. Appointment of Smt. Madhubala Kalluri (DIN: 11202794) as Director (Finance) of the Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.15% · other public 2.98%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%

  5. Appointment of Shri Amit Satija (DIN: 08989543) as Government Nominee Director
    Ordinary
    98.16% for1.84% against

    Against: promoters 0.00% · institutions 17.72% · other public 4.09%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%

  6. Re-appointment of Smt. V.T. Rema (DIN: 09561611) as Independent Director of the Company
    Special
    94.56% for5.44% against

    Against: promoters 0.00% · institutions 52.42% · other public 3.20%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.20%

  7. Appointment of Shri Ajay Kumar Chauhan (DIN: 09394953) as Independent Director of the Company
    Special
    99.26% for0.74% against

    Against: promoters 0.00% · institutions 7.14% · other public 3.34%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.20%

  8. Appointment of Ms. Aruna Sarap (DIN: 09583629) as Independent Director of the Company
    Special
    99.27% for0.73% against

    Against: promoters 0.00% · institutions 7.06% · other public 3.40%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%

  9. To appoint D. Hanumantha Raju & Co. – Company Secretaries as Secretarial Auditors of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.76%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%

  10. To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2025-26
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.86%

    Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · 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.

Annual general meeting, 30 Sep 2024, 5 resolutions

Present: 1 promoter and 52 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt:na) the audited standalone financial statements of the Company for the financial year ended March 31, 2024, 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 and report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.52%

    Turnout: all 82.10% · promoters 100.00% · institutions 81.39% · other public 0.30%

  2. To appoint a Director in place of Shri Thulasiraman Muthukumar (DIN: 09636771), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.08% for1.92% against

    Against: promoters 0.00% · institutions 19.51% · other public 3.81%

    Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%

  3. Re-employment of Dr. Sanjay Kumar Jha (DIN:07533036) as Chairman & Managing Director of Company.n
    Ordinary
    99.15% for0.85% against

    Against: promoters 0.00% · institutions 8.63% · other public 5.05%

    Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%

  4. Appointment of Shri Shalabh Tyagi (DIN: 10042888) as Government Nominee Director.n
    Ordinary
    96.61% for3.39% against

    Against: promoters 0.00% · institutions 34.55% · other public 3.67%

    Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%

  5. To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2024-25.n
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.73%

    Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%

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

Annual general meeting, 29 Sep 2023, 4 resolutions

Present: 1 promoter and 52 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023, the reports of the Board of Directors and Auditors thereon; and the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and reportnof the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.89% · promoters 100.00% · institutions 86.26% · other public 0.51%

  2. To confirm payment of interim dividend i.e. Rs. 1.68 per equity share of Rs. 10 each (i.e. @16.80%) and declare final dividend of Rs. 1.67 per equity Share of Rs. 10/- each (i.e. @ 16.70%) for the financial year ended on March 31, 2023.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.91% · promoters 100.00% · institutions 86.38% · other public 0.51%

  3. To appoint a Director in place of Dr. Sanjay Kumar Jha (DIN:07533036), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.21% · other public 5.93%

    Turnout: all 85.91% · promoters 100.00% · institutions 86.38% · other public 0.50%

  4. To ratify remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2023-24
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.71%

    Turnout: all 85.91% · promoters 100.00% · institutions 86.38% · other public 0.50%

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, 27 Jan 2023, 1 resolution

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

  1. Appointment of Shri Surendra Prasad Yadav (DIN: 02267582) as Government Nominee Director
    Ordinary
    95.95% for4.05% against

    Against: promoters 0.00% · institutions 28.14% · other public 9.67%

    Turnout: all 86.49% · promoters 100.00% · institutions 85.81% · 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.

Annual general meeting, 29 Sep 2022, 4 resolutions

Present: 1 promoter and 65 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, 2022, the reports of the Board of Directors and Auditors thereon; andnnb) the audited consolidated financial statements of the Company for the financial year ended March 31, 2022 and report of the Auditors thereon.nMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.28%

    Turnout: all 87.96% · promoters 100.00% · institutions 86.57% · other public 0.60%

  2. To confirm payment of interim dividend i.e. Rs. 1.56/- per equity share of Rs. 10 each ( i.e. @15.60%) and to declare final dividend of Rs. 1.54/- per Equity Share of Rs. 10/- each (i.e. @ 15.40%) for the financial year ended on March 31, 2022MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.98%

    Turnout: all 87.97% · promoters 100.00% · institutions 86.65% · other public 0.60%

  3. To appoint a Director in place of Shri Gowri Sankara Rao Naramsetti (DIN: 08925899), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 2.44% · other public 2.01%

    Turnout: all 87.97% · promoters 100.00% · institutions 86.65% · other public 0.60%

  4. To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2022-23
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 87.97% · promoters 100.00% · institutions 86.65% · other public 0.60%

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

Postal ballot, 3 Aug 2022, 1 resolution

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

  1. Appointment of Shri Thulasiraman Muthukumar (T. Muthukumar) (DIN:n09636771) as Director (Production & Marketing)n
    Ordinary
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 2.85% · other public 15.16%

    Turnout: all 87.68% · promoters 100.00% · institutions 89.74% · other public 1.21%

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, 30 Jun 2022, 1 resolution

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

  1. Appointment of Smt. Vallikkat Thanayankizhil Rema (V.T. Rema) (DIN: 09561611) as annIndependent Director
    Special
    95.48% for4.52% against

    Against: promoters 0.00% · institutions 30.27% · other public 7.45%

    Turnout: all 87.10% · promoters 100.00% · institutions 86.19% · other public 1.14%

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.

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 30 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2026, 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 and report of the Auditors thereonMoreLess
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
    0 for1 against
  • To confirm payment of interim dividend i.e. Re. 0.85 per equity share of Rs.10 each (i.e. @8.50%) and declare final dividend of Rs. 1.25 per equity Share of Rs. 10/- each (i.e. @12.50%) for the financial year ended on March 31, 2026MoreLess
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
    0 for1 against
  • To appoint a Director in place of Smt. Madhubala Kalluri (DIN: 11202794), who retires by rotation and being eligible, offers herself for re-appointment.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman Independent Director.
    0 for1 against
  • Appointment of Shri Padavittan Babu (DIN: 11233808) as Director (Production and Marketing) of the Company
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman Independent Director.
    0 for1 against
  • Appointment of Shri Sameer Mundra (DIN: 00078727) as Independent Director of the Company
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Term of appointment is ambiguous and against spirit of the law.
    0 for1 against
  • Appointment of Shri Pugazhendhy Arumugam (DIN: 11912614) as Independent Director of the Company
    Against Angel One Mutual Fund
    • Angel One Mutual FundAppointment of Shri Pugazhendhy Arumugam (DIN: 11912614) as an Independent Director of MIDHANI with effect from August 25, 2026, up to August 24, 2029, or until further orders of the Ministry of Defence, whichever is earlier.
    0 for1 against
  • To ratify the remuneration to be paid to SS Zanwar and Associates, Cost Accountants, Cost Accountants as Cost Auditor of the Company for FY 2026-27
    1 for0 against
  • Appointment of Ms. Meera Mohanty (DIN: 03379561) as Government Nominee Director of Company
    Against Angel One Mutual Fund
    • Angel One Mutual FundThe Company has not provided notice prior to 21 days. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman Independent Director.
    0 for1 against

Mutual fund votes, meeting of 30 Sep 2025, 8 fund houses

  • To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2025, 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 and report of the Auditors thereon.MoreLess
    8 for0 against
  • To appoint a Director in place of Dr. S.V.S. Narayana Murty (DIN: 11065319), who retires by rotation and being eligible, offers himself for re-appointment.
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
    5 for3 against
  • Appointment of Dr. S.V.S. Narayana Murty (DIN:11065319) as Chairman & Managing Director of Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
    5 for3 against
  • Appointment of Smt. Madhubala Kalluri (DIN: 11202794) as Director (Finance) of the Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
    8 for0 against
  • Appointment of Shri Amit Satija (DIN: 08989543) as Government Nominee Director
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Delayed shareholder’s approval.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Delayed shareholder’s approval.
    5 for3 against
  • Re-appointment of Smt. V.T. Rema (DIN: 09561611) as Independent Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorship, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval;Term of appointment is ambiguous.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of Director. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorship, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorship, no consecutive terms between the two appointments; Delayed Shareholders’ approval
    2 for6 against
  • Appointment of Shri Ajay Kumar Chauhan (DIN: 09394953) as Independent Director of the Company
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous; Appointment for a period of 1 year only.
    • Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of Directors. Governance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law; Appointment for a period of 1 year only.
    5 for3 against
  • Appointment of Ms. Aruna Sarap (DIN: 09583629) as Independent Director of the Company
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous; Appointment for a period of 1 year only.
    • Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of Directors. Governance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law; Appointment for a period of 1 year only.
    5 for3 against
  • To appoint D. Hanumantha Raju & Co. – Company Secretaries as Secretarial Auditors of the Company
    8 for0 against
  • To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2025-26
    8 for0 against
6 earlier meetings

Mutual fund votes, meeting of 30 Sep 2024, 8 fund houses

  • To receive, consider and adopt:na) the audited standalone financial statements of the Company for the financial year ended March 31, 2024, 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 and report of the Auditors thereon.MoreLess
    8 for0 against
  • To appoint a Director in place of Shri Thulasiraman Muthukumar (DIN: 09636771), who retires by rotation and being eligible, offers himself for re-appointment.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment is compliant with law. No concern on the merit of proposed appointee. Governance Concern: Board is non-compliant with requisite number of IDs, therefore, concern raised against appointment of NID.
    5 for3 against
  • Re-employment of Dr. Sanjay Kumar Jha (DIN:07533036) as Chairman & Managing Director of Company.n
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundRe-appointment is compliant with law. No concern on the merit of proposed appointee. Governance Concern: Combined position as Chairman & Managing Director. Board is non-compliant with requisite number of IDs, therefore, concern raised against appointment of NID.
    5 for3 against
  • Appointment of Shri Shalabh Tyagi (DIN: 10042888) as Government Nominee Director.n
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundAppointment compliant with law. No concern on the merits of the proposed appointee. Governance Concern: Delayed shareholders’ approval. Board is non-compliant with requisite number of IDs, therefore, concern raised against appointment of NID.
    4 for4 against
  • To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2024-25.n
    8 for0 against

Mutual fund votes, meeting of 29 Sep 2023, 7 fund houses

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

  • To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023, the reports of the Board of Directors and Auditors thereon; and the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and reportnof the Auditors thereon.MoreLess
    6 for0 against
  • To confirm payment of interim dividend i.e. Rs. 1.68 per equity share of Rs. 10 each (i.e. @16.80%) and declare final dividend of Rs. 1.67 per equity Share of Rs. 10/- each (i.e. @ 16.70%) for the financial year ended on March 31, 2023.MoreLess
    6 for0 against
  • To appoint a Director in place of Dr. Sanjay Kumar Jha (DIN:07533036), who retires by rotation and being eligible, offers himself for re-appointment.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Non-Compliant Board and Holding dual position of Chairman & MD.
    5 for1 against
  • To ratify remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2023-24
    6 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 4, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 27 Jan 2023, 5 fund houses

  • Appointment of Shri Surendra Prasad Yadav (DIN: 02267582) as Government Nominee Director
    Against Invesco Mutual Fund, Nippon India Mutual Fund, Taurus Mutual Fund
    • Invesco Mutual FundSurendra Prasad Yadav, 54, is currently the Joint Secretary (Land Systems), Department of Defence, Ministry of Defence, Government of India. He is M. Tech, Indian Forest Service (IFoS) of West Bengal cadre. He has been appointed as a Nominee Director of Government of India from 10 November 2022. Although his appointment is in line with statutory requirements, we are unable to support the resolution as the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominee on the board. He is not liable to retire by rotation, which given his non-executive role, creates board permanency. We believe shareholders must get a chance to periodically vote on director (re)appointments
    • Nippon India Mutual FundHalf of the board of directors are not Independent
    • Taurus Mutual FundSurendra Prasad Yadav, 54, is currently the Joint Secretary (Land Systems), Department of Defence, Ministry of Defence, Government of India. He is M. Tech, Indian Forest Service (IFoS) of West Bengal cadre. He has been appointed as a Nominee Director of Government of India from 10 November 2022. Although his appointment is in line with statutory requirements, we are unable to support the resolution as the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominee on the board. He is not liable to retire by rotation, which given his non-executive role, creates board permanency. We believe shareholders must get a chance to periodically vote on director (re)appointments.
    2 for3 against

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

  • To receive, consider and adopt: na) the audited standalone financial statements of the Company for the financial year ended March 31, 2022, the reports of the Board of Directors and Auditors thereon; andnnb) the audited consolidated financial statements of the Company for the financial year ended March 31, 2022 and report of the Auditors thereon.nMoreLess
    4 for0 against
  • To confirm payment of interim dividend i.e. Rs. 1.56/- per equity share of Rs. 10 each ( i.e. @15.60%) and to declare final dividend of Rs. 1.54/- per Equity Share of Rs. 10/- each (i.e. @ 15.40%) for the financial year ended on March 31, 2022MoreLess
    4 for0 against
  • To appoint a Director in place of Shri Gowri Sankara Rao Naramsetti (DIN: 08925899), who retires by rotation and being eligible, offers himself for re-appointment
    4 for0 against
  • To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2022-23
    4 for0 against

Mutual fund votes, meeting of 3 Aug 2022, 4 fund houses

  • Appointment of Shri Thulasiraman Muthukumar (T. Muthukumar) (DIN:n09636771) as Director (Production & Marketing)n
    4 for0 against

Mutual fund votes, meeting of 30 Jun 2022, 4 fund houses

  • Appointment of Smt. Vallikkat Thanayankizhil Rema (V.T. Rema) (DIN: 09561611) as annIndependent Director
    Against Invesco Mutual Fund, Nippon India Mutual Fund
    • Invesco Mutual FundMs. V.T. Rema, 64, is Retired Vice Principal of Government College, Pattambi, Kerala. She has completed her M.A. in English and Master’s in Philosophy from Calicut University, Kerala. She has worked with Government College Kerala from 1984 to 2014 as an Associate Professor before retiring as Vice Principal. As per the company’s website, she is State Vice President for Bhartiya Janata Party, Kerala. We do not support her appointment as an Independent Director as we believe her political affiliation may unnecessarily politicize the decisions of the company and distract the management from its core focus.
    • Nippon India Mutual FundTerm of appointment is ambiguous
    2 for2 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
No
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.