Munjal Showa MD, chairman, board of directors and AGM
NSE: MUNJALSHOWBSE: 520043Auto ComponentsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹116.84.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹483 Cr1,847th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 3 Aug 2026
- 19.5
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 29 May 2026
- 0.7
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 3.72%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 3 Aug 2026
- 3.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 3 Aug 2026
- 1.1%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 29 May 2026
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 35,79459.3% delivered
Munjal Showa board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Chairperson and managing directorYOGESH CHANDER MUNJAL
- Managing directorHITOSHI FUKAGAWA
- Company Secretary and Compliance OfficerRAVINDER SHARMA
8 directors4 independent2 executive2 non-executive
- YOGESH CHANDER MUNJAL · Chairperson and managing directorExecutive · joined May 1985 · reappointed Sep 2026 · 2 listed boards · 3 committee seats
- HITOSHI FUKAGAWA · Managing directorExecutive · joined May 2024 · reappointed May 2024 · 1 listed board · 1 committee seat
- KATSUMATA TETSUYANon-executive · joined May 2025 · reappointed May 2025 · 1 listed board
- ASHOK KUMAR MUNJALIndependent · joined Jan 1989 · reappointed Jan 1989 · 53 months as independent · 1 listed board · 1 as independent · 2 committee seats
- KAVITA VENUGOPALIndependent · joined May 2022 · reappointed May 2022 · 53 months as independent · 3 listed boards · 3 as independent · 5 committee seats, 1 as chair
- NEETIKA BATRAIndependent · joined Apr 2024 · reappointed Apr 2024 · 30 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 2 as chair
- ABHAYA SHANKARIndependent · joined May 2025 · reappointed May 2025 · 17 months as independent · 4 listed boards · 3 as independent · 5 committee seats, 2 as chair
- NEERAJ MUNJALNon-executive · joined May 2025 · reappointed May 2025 · 2 listed boards · 2 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.
1 director who left
- KAZUHIRO NISHIOKA, left 8 Apr 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 3 Aug 20267 of 8 present4 independent · 65 days in between
- 29 May 20266 of 8 present3 independent
Audit Committee
Chair NEETIKA BATRA
ASHOK KUMAR MUNJAL, KAVITA VENUGOPAL, NEERAJ MUNJAL, ABHAYA SHANKAR
- 3 Aug 20265 of 5 present4 independent · 65 days in between
- 29 May 20263 of 4 present2 independent
Nomination and remuneration committee
Chair ASHOK KUMAR MUNJAL
NEETIKA BATRA, KAVITA VENUGOPAL, YOGESH CHANDER MUNJAL
- 17 Jul 20264 of 4 present3 independent · 48 days in between
- 29 May 20263 of 4 present2 independent
Stakeholders Relationship Committee
Chair NEETIKA BATRA
ASHOK KUMAR MUNJAL, YOGESH CHANDER MUNJAL, HITOSHI FUKAGAWA, KAVITA VENUGOPAL
No meeting listed in the filing.
Risk Management Committee
Chair YOGESH CHANDER MUNJAL
HITOSHI FUKAGAWA, ASHOK KUMAR MUNJAL, KAVITA VENUGOPAL
- 17 Jul 20264 of 4 present2 independent
Corporate Social Responsibility Committee
Chair YOGESH CHANDER MUNJAL
HITOSHI FUKAGAWA, ASHOK KUMAR MUNJAL
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.
- DELLOITTE HASKINS & SELLS LLPPeer-review certificate valid to Jul 2027
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Munjal Showa 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.Munjal Showa dividend history
Annual general meeting, 24 Aug 2026
29,859 shareholders on the register on 17 Aug 2026; present: 2 promoters and 99 others; votes counted by Mr. Arun Kumar / M/s AKU & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2026, the Statement of Profit and Loss, Statement of change in equity and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2026 together with the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary99.88% for0.12% againstAgainst: promoters 0.00% · institutions 0.00% · other public 63.34%
Turnout: all 65.19% · promoters 99.98% · institutions 81.00% · other public 0.34%
- To consider, approve and declare final dividend on equity shares for the Financial Year 2025-26.Ordinary99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 63.34%
Turnout: all 65.19% · promoters 99.98% · institutions 81.00% · other public 0.34%
- To appoint a Director in place of Mr. Neeraj Munjal (DIN: 00037792), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 63.34%
Turnout: all 65.19% · promoters 99.98% · institutions 81.00% · other public 0.34%
- To appoint a Director in place of Mr. Tetsuya Katsumata (DIN: 11096018), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 63.36%
Turnout: all 65.19% · promoters 99.98% · institutions 81.00% · other public 0.34%
- Re-appointment of Mr. Yogesh Chander Munjal (DIN:00003491) as Chairman & Managing Director of the CompanySpecial99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 63.34%
Turnout: all 65.19% · promoters 99.98% · institutions 81.00% · other public 0.34%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 20 Aug 2025, 11 resolutions
32,006 shareholders on the register on 13 Aug 2025; present: 2 promoters and 76 others; votes counted by ARUN KUMAR / AKU & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2025, the Statement of Profit and Loss, Statement of change in equity and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2025 together with the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- To consider, approve and declare final dividend on equity shares for the Financial Year 2024-25.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- To appoint a Director in place of Mr. Yogesh Chander Munjal (DIN: 00003491), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- To appoint a Director in place of Mr. Hitoshi Fukagawa (DIN: 10611378), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- To appoint M/s. AKU & Associates, Practicing Company Secretaries (ICSI firm registration No. S2016DE428500) as Secretarial Auditors of the Company and to fix their remuneration.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- Appointment of Mr. Abhaya Shankar (DIN: 00008378) as Non-Executive, Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- Appointment of Mr. Neeraj Munjal (DIN: 00037792) as Non-Executive, Director of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- Appointment of Mr. Tetsuya Katsumata (DIN: 11096018) as Non-Executive, Director of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- Change in remuneration payable to Mr. Yogesh Chander Munjal (DIN: 00003491), Managing Director of the Company.Special98.20% for1.80% against
Against: promoters 0.00% · institutions 0.00% · other public 97.45%
Turnout: all 66.23% · promoters 99.98% · institutions 0.00% · other public 3.64%
- Change in designation and remuneration payable to Mr. Avi Munjal, Senior Vice President Business Development Department.OrdinaryPromoters have an interest in it95.44% for4.56% against
Against: promoters 0.00% · institutions 0.00% · other public 97.45%
Turnout: all 26.13% · promoters 38.30% · institutions 0.00% · other public 3.64%
- Revision in salary of Mr. Yajan Kant Munjal General Manager, Business Development and Excellence departmentOrdinaryPromoters have an interest in it95.44% for4.56% against
Against: promoters 0.00% · institutions 0.00% · other public 97.29%
Turnout: all 26.13% · promoters 38.30% · institutions 0.00% · other public 3.64%
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, 21 Aug 2024, 7 resolutions
Present: 2 promoters and 80 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2024, the Statement of Profit and Loss, Statement of change in equity and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2024 together with the reports of the Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 2.36%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
- To consider, approve and declare final dividend on equity shares for the Financial Year 2023-24Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.36%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
- To appoint a Director in place of Mr. Kazuhiro Nishioka (DIN: 00602255), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.36%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
- To appoint a Director in place of Mr. Yogesh Chander Munjal (DIN: 00003491), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.37%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
- Change in remuneration payable to Mr. Yogesh Chander Munjal (00003491), Managing Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 5.38%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
- Appointment of Mr. Hitoshi Fukagawa (DIN: 10611378) as Director of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.36%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
- Appointment of Mr. Hitoshi Fukagawa (DIN: 10611378) as Joint Managing Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.36%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.21%
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, 16 Mar 2024, 1 resolution
The company's voting result (opens in a new tab)
- Approval for the appointment of Ms. Neetika Batra (DIN: 10219725) as Non-Executive, Independent Director of the Company for a period of five consecutive years w.e.f 01st April, 2024.Special99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 7.67%
Turnout: all 65.16% · promoters 99.98% · institutions 0.00% · other public 0.44%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 22 Aug 2023, 5 resolutions
Present: 6 promoters and 132 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2023, the Statement of Profit and Loss, Statement of change in equity and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2023 together with the reports of the Board of Directors and Auditors thereon:MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.00% · other public 20.57%
Turnout: all 65.08% · promoters 100.00% · institutions 0.00% · other public 0.17%
- To consider, approve and declare final dividend of Rs. 4.50 per equity shares for the financial year 2022-23.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 3.46%
Turnout: all 65.08% · promoters 100.00% · institutions 0.00% · other public 0.17%
- To appoint a Director in place of Mr. Yasuhiro Ashiki (DIN: 09132637), who retires by rotation and being eligible, offers himself for re-appointment.OrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 20.98%
Turnout: all 65.08% · promoters 100.00% · institutions 0.00% · other public 0.17%
- To appoint a Director in place of Mr. Kazuhiro Nishioka (DIN: 00602255), who retires by rotation and being eligible, offers himself for re-appointment.OrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 20.98%
Turnout: all 65.08% · promoters 100.00% · institutions 0.00% · other public 0.17%
- To consider and approve Change in remuneration payable to Mr. Yogesh Chander Munjal (00003491), Managing Director of the Company.Special99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 20.57%
Turnout: all 65.08% · promoters 100.00% · institutions 0.00% · other public 0.17%
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.
Annual general meeting, 12 Aug 2022, 8 resolutions
- CHANGE IN DESIGNATION AND REMUNERATION PAYABLE TO MR. AVI MUNJAL, (AVP) BUSINESS DEVELOPMENT DEPARTMENTOrdinaryPromoters have an interest in it99.94% for0.06% against
- Appointment of Mrs. Kavita Venugopal (DIN: 07551521) as a Non- Executive Independent Women Director of the CompanySpecial99.99% for0.01% against
- Change of category of Mr. Ashok Kumar Munjal (DIN: 00003843) as a Non-Executive Director to Non- Executive Independent Director of the CompanySpecial99.98% for0.02% against
- To re-appoint M/s. Deloitte Haskins & Sells LLP, Chartered Accountants as statutory auditors of the Company and to fix their remunerationOrdinary99.99% for0.01% against
- To appoint a Director in place of Mr. Yogesh Chander Munjal (DIN: 00003491), who retires by rotation and, being eligible, offers himself for re-appointment.OrdinaryPromoters have an interest in it99.98% for0.02% against
- To appoint a Director in place of Mrs. Charu Munjal (DIN: 03094545), who retires by rotation and, being eligible, offers herself for re-appointment.Ordinary99.98% for0.02% against
- To consider, approve and declare final dividend onequity shares for the Financial Year 2021-22.Ordinary99.99% for0.01% against
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2022, the Statement of Profit and Loss, Statement of change in equity and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2022 together with the reports of the Board of Directors and Auditors thereon:MoreLess
Ordinary99.99% for0.01% against
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 25 Aug 2021, 8 resolutions
Present: 2 promoters and 89 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2021, the Statement of Profit and Loss and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2021 together with the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 3.80%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- To consider, approve and declare final dividend on equity shares for the financial year 2020-21.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 3.80%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- To appoint a Director in place of Mrs. Charu Munjal (DIN: 03094545), who retires by rotation and, being eligible, offers herself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 3.80%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- To appoint a Director in place of Mr. Yogesh Chander Munjal (DIN: 00003491), who retires by rotation and, being eligible, offers himself for re-appointmentOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 5.20%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- Appointment of Mr. Kazuhiro Nishioka (DIN: 00602255) as a Director of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 4.13%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- Re-appointment of Mr. Yogesh Chander Munjal (DIN 00003491) as Chairman & Managing Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 3.80%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- Appointment of Mr. Yasuhiro Ashiki (DIN: 09132637) as Director of the CompanyOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 4.54%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
- Appointment of Mr. Yasuhiro Ashiki (DIN 09132637) as Joint Managing Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 4.01%
Turnout: all 65.08% · promoters 99.98% · institutions 0.00% · other public 0.22%
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, 10 Sep 2020, 4 resolutions
Present: 2 promoters and 40 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company including Balance Sheet as at March 31, 2020, the Statement of Profit and Loss and Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2020 together with the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 66.54% · promoters 99.98% · institutions 0.00% · other public 4.43%
- To declare a dividend of Rs. 4.50 per equity share of Rs. 2/- each fully paid up for the financial year 2019-20Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 66.54% · promoters 99.98% · institutions 0.00% · other public 4.43%
- To appoint a Director in place of Mr. Yasuhiro Yamamoto (DIN: 08127304), who retires by rotation and, being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 66.54% · promoters 99.98% · institutions 0.00% · other public 4.43%
- Variation in the terms of appointment of Mr. Shigeki Kobayashi (DIN: 07626553), Joint Managing Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 66.54% · promoters 99.98% · institutions 0.00% · other public 4.43%
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.
Tax disputes
Reported in the filing for the quarter to Sep 2026.
- Tax disputeIncome tax Department/Assessing OfficerSince 27 Jan 2022
The Assessing officer have erred in proposing an adjustment of INR 4,89,58,700 to the arm’s length price of the ‘international transactions’ and The Company has filed an appeal before ITAT and pending with ITAT.MoreLess
At the filing before: For assessment year 2006-07 The Assessing officer have erred in proposing an adjustment of INR 4,89,58,700 to the arm’s length price of the ‘international transactions’ and The Company has filed an appeal before Income tax appelate tribunal (ITAT)MoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 18 Mar 2015
For assessment year 2006-07 • Transfer pricing adjustment amounting to INR 12,98,92,206 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP and The Company has filed an appeal before ITAT and the same is pendingMoreLess
At the filing before: For assessment year 2010-11, Transfer pricing adjustment amounting to INR 12,98,92,206 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 28 Jul 2022
For Assessment year 2011-12, Transfer pricing adjustment amounting to INR 10,16,83,851 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP and the Company has filed an appeal before ITAT and the same is pendingMoreLess
At the filing before: For Assessment year 2011-12, Transfer pricing adjustment amounting to INR 10,16,83,851 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 20 Dec 2016
For Assessment year 2012-13,Transfer pricing adjustment amounting to INR 43,27,43,656 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP and the Company has filed an appeal before ITAT and the same is pendingMoreLess
At the filing before: For Assessment year 2012-13,Transfer pricing adjustment amounting to INR 43,27,43,656 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 1 Sep 2017
For Assessment year 2013-14, The TPO benchmarked the manufacturing segment and after adopting new set of comparable under TNMM method, made an adjustment of INR 2,98,05,992 along with adjustment of INR 2,24,267 in respect of inter-unit transfers of semi-finished goods and the Company has filed an appeal before ITAT and the same is pendingMoreLess
At the filing before: For Assessment year 2013-14, The TPO benchmarked the manufacturing segment and after adopting new set of comparable under TNMM method, made an adjustment of INR 2,98,05,992 along with adjustment of INR 2,24,267 in respect of inter-unit transfers of semi-finished goods and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 5 May 2021
For Assessment year 2016-17 Transfer pricing adjustment amounting to INR 18,09,75,549 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further Transfer pricing adjustment amounting to INR 1,70,78,336 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITAT and the same is pending.MoreLess
At the filing before: For Assessment year 2016-17 Transfer pricing adjustment amounting to INR 18,09,75,549 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further Transfer pricing adjustment amounting to INR 1,70,78,336 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 7 Apr 2022
For Assessment year 2017-18, Transfer pricing adjustment amounting to INR 17,54,70,201 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further Transfer pricing adjustment amounting to INR 2,35,38,892 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITAT and the same is pending.MoreLess
At the filing before: For Assessment year 2017-18, Transfer pricing adjustment amounting to INR 17,54,70,201 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further Transfer pricing adjustment amounting to INR 2,35,38,892 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITAT.MoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 15 Jun 2022
For Assessment year 2018-19, Transfer pricing adjustment amounting to INR 13,26,68,832 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further, transfer pricing adjustment amounting to INR 1,14,76,800 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITAT and the same is pending.MoreLess
At the filing before: For Assessment year 2018-19, Transfer pricing adjustment amounting to INR 13,26,68,832 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further, transfer pricing adjustment amounting to INR 1,14,76,800 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITATMoreLess
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- Tax disputeIncome tax Department/Assessing OfficerSince 29 Aug 2024
For Assessment year 2020-21, Transfer pricing adjustment amounting to INR 30,59,67,825 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further, transfer pricing adjustment amounting to INR 1,54,75,557 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITAT and the same is pending before ITATMoreLess
At the filing before: For Assessment year 2020-21, Transfer pricing adjustment amounting to INR 30,59,67,825 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further, transfer pricing adjustment amounting to INR 1,54,75,557 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 18 Dec 2024
For Assessment year 2021-22, Transfer pricing adjustment amounting to INR 26,93,07,230 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further, transfer pricing adjustment amounting to INR 3,32,77,983 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITAT and the same is pending before ITATMoreLess
At the filing before: For Assessment year 2021-22, Transfer pricing adjustment amounting to INR 26,93,07,230 pertaining to payment of royalty by arbitrarily determining the arm’s length price (“ALP”) of the international transaction as against computed by MSL in accordance with the provisions of the Act read with the Income-tax Rules, 1962 (“Rules”) using TNMM Method and / or CUP. Further, transfer pricing adjustment amounting to INR 3,32,77,983 pertaining to manufacturing segment on account of cherry picking of certain comparable companies and the Company has filed an appeal before ITATMoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 26 Dec 2025The Company will challenge the same based on strong merits by way of filing appeal before the Income Tax Appellate Tribunal.
At the filing before: As per the income tax order, the Income for assessment year 2022-23 was assessed at 2768.90 Lakhs as against returned income of Rs. 489.48 Lakhs due to adjustment of royalty etc payments amounting to 2254.99 Lakhs. Resultant demand of Rs. 703.83 Lakhs including interest.MoreLess
- Tax disputeIncome tax Department/Assessing OfficerSince 13 Apr 2026The Company will challenge the same based on strong merits by way of filing appeal before the Income Tax Appellate Tribunal.
At the filing before: As per the assessment order for A.Y. 2015–16 passed under section 143(3) of the Income Tax Act, 1961, excess MAT credit of ₹37.35 lakhs was disallowed and a penalty of ₹37.35 lakhs has been levied under section 271(1)(c) of the Income Tax Act, 1961 for alleged furnishing of inaccurate particulars of incomeMoreLess
- Tax disputeEmployees' State Insurance CorporationSince 2 Feb 2006For Financial year 1994-1995 an order is issued by Dy. Director (Rev) of ESIC on 02.02.2006 for an amount of Rs. 53,039/-. The report is pending from ESI Court Gurgaon.At the filing before: For Financial year 1994-1995 an order is issued by Dy. Director (Rev) of ESIC on 02.02.2006 for an amount of Rs. 53,039/-.
- Tax disputeEmployees' State Insurance CorporationSince 2 Feb 2006
For Financial year 1995-1996 an order is issued by Dy. Director (Rev) of ESIC on 02.02.2006 for an amount of Rs. 12,04,591/-. Re-inspection has been done and demand is reduced to Rs. 8,40,878 on 18.07.2016. The report is pending from ESI Court Gurgaon.MoreLess
At the filing before: For Financial year 1995-1996 an order is issued by Dy. Director (Rev) of ESIC on 02.02.2006 for an amount of Rs. 12,04,591/-. - Tax disputeEmployees' State Insurance CorporationSince 20 Feb 2006
For Financial year 1996-1997 an order is issued by Dy. Director (Rev) of ESIC on 20.02.2006 for an amount of Rs. 6,49,999/-. Re-inspection has been done and demand is reduced to Rs. 2,68.653 on 18.07.2016. The report is pending from ESI Court Gurgaon.MoreLess
At the filing before: For Financial year 1996-1997 an order is issued by Dy. Director (Rev) of ESIC on 20.02.2006 for an amount of Rs. 6,49,999/-. - Tax disputeEmployees' State Insurance CorporationSince 20 Feb 2006
For Financial year 1997-1998 an order is issued by Dy. Director (Rev) of ESIC on 20.02.2006 for an amount of Rs. 6,69,251/-. Re-inspection has been done and demand is reduced to Rs. 7,614/- on 18.07.2016. The report is pending from ESI Court Gurgaon.MoreLess
At the filing before: For Financial year 1997-1998 an order is issued by Dy. Director (Rev) of ESIC on 20.02.2006 for an amount of Rs. 6,69,251/-. - Tax disputeEmployees' State Insurance CorporationSince 20 Feb 2006For Financial year 2001-2002 an order is issued by Dy. Director (Rev) of ESIC on 20.02.2006 for an amount of Rs. 19,321/-. Re-inspection has been done The report is pending from ESI Court Gurgaon.At the filing before: For Financial year 2001-2002 an order is issued by Dy. Director (Rev) of ESIC on 20.02.2006 for an amount of Rs. 19,321/-.
- Tax disputeEmployees' State Insurance CorporationSince 9 Mar 2018For Financial year 2013-2016 an order is issued by Dy. Director of ESIC on 09.03.2018 for an amount of Rs. 39,08,539/-. The case is pending before the ESI Court Gurgaon.At the filing before: For Financial year 2013-2016 an order is issued by Dy. Director of ESIC on 09.03.2018 for an amount of Rs. 39,08,539/-.
- Tax disputeGoods and service Tax, State tax DehradunSince 6 Jul 2024Initial relevant details and documents submitted with GST department and awaiting reponseAt the filing before: For Financial Year 2018-19, appeal has been filled against order of The J.C. (Appeals) State Tax, Dehradun for diffecernce in GSTR-3B & GSTR-2A.
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 33,30,697/- for the assessment year 2008-09.MoreLess
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 37,00,774/- for the assessment year 2009-10.MoreLess
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 41,11,971/- for the assessment year 2010-11.MoreLess
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 45,68,857/- for the assessment year 2011-12.MoreLess
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 50,76,508/- for the assessment year 2012-13.MoreLess
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 56,40,564/- for the assessment year 2013-14.MoreLess
- Tax disputeOffice of the Department of Excise and Taxation officer-cum Assessing Authority Gurugram (Haryana).Since 23 Sep 2026The written reply was submitted to the department.
At the filing before: Assessment under Section 9 of the Haryana Tax on Entry of Goods into Local Areas Act 2008. In light of the provisions of the Act, the department directed the Company to pay the tax of Rs. 62,67,294/- for the assessment year 2014-15.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.