National Fertilizers logo

National Fertilizers MD, chairman, board of directors and AGM

NSE: NFLBSE: 523630Fertilizers & AgrochemicalsSmall Cap

Last close ₹57.12down ₹1.73 (2.94%)BSE ₹57.12

Share price at the NSE close on 23 Oct 2026. Previous close ₹58.85.

52-week range of traded prices to 23 Oct 2026
₹56.05Low, 23 Oct 2026₹96.40High, 28 Oct 2025
Market cap
₹2,802 Cr878th largest listed
P/E
7.7
P/B
1.0
Dividend yield
1.82%
ROE
13.1%
ROCE
8.8%
Debt to equity
1.39
Volume, NSE
10,27,76439.0% delivered

National Fertilizers 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 directorU. Saravanan
  • Company Secretary and Compliance OfficerAshok Jha

8 directors2 independent4 executive2 non-executive

  • U. Saravanan · Chairperson and managing directorExecutive · joined Jun 2023 · 1 listed board · 1 committee seat
  • Mahesh Chander GuptaExecutive · joined Mar 2025 · 1 listed board · 3 committee seats
  • Megh Nath GoyalExecutive · joined Nov 2025 · 1 listed board · 2 committee seats
  • Arvind KumarExecutive · joined May 2026 · 1 listed board · 1 committee seat
  • Anurag RohatgiNominee, non-executive · joined Dec 2025 · 1 listed board
  • Kuntal SensarmaNominee, non-executive · joined Apr 2026 · 1 listed board
  • Pinky PradhanIndependent · joined May 2025 · 16 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Mahak SinghIndependent · joined Aug 2026 · 2 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair

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.

12 directors who left
  • Jyoti Bhramar Tubid, left 5 May 2026: Tenure Completion
  • Rabi Ranjan Sen, left 5 May 2026: Tenure Completion
  • Prathibha Anirudhan, left 17 Apr 2026: Others
  • Hira Nand, left 1 Mar 2026: Others
  • Bharat Bhushan, left 19 Dec 2025: Others
  • Ritu Goswami, left 5 Nov 2025: Others
  • Rajan Kanwar, left 1 May 2025: Others
  • Venkata Sarvarayudu Thota, left 30 Nov 2024: Tenure Completion
  • Kashi Ram Godara, left 12 Nov 2024: Tenure Completion
  • Ritesh Tiwari, left 12 Nov 2024: Tenure Completion
  • Poonam Sharma, left 12 Nov 2024: Tenure Completion
  • Neeraja Adidam, left 7 Nov 2024: Others

Committees and meetings

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

  • Board

    • 8 Sep 20268 of 8 present2 independent · 26 days in between
    • 12 Aug 20267 of 7 present1 independent · 43 days in between
    • 29 Jun 20267 of 7 present1 independent · 32 days in between
    • 27 May 20267 of 7 present1 independent

  • Audit Committee

    Chair Pinky Pradhan

    Mahesh Chander Gupta, Mahak Singh

    • 12 Aug 20263 of 3 present1 independent · 76 days in between
    • 27 May 20263 of 3 present1 independent

  • Nomination and remuneration committee

    Chair Pinky Pradhan

    U. Saravanan, Mahak Singh

    • 29 Jun 20264 of 4 present1 independent · 32 days in between

  • Stakeholders Relationship Committee

    Chair Mahak Singh

    Pinky Pradhan, U. Saravanan, Mahesh Chander Gupta, Megh Nath Goyal, Arvind Kumar

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Mahak Singh

    Pinky Pradhan, U. Saravanan, Mahesh Chander Gupta, Megh Nath Goyal, Arvind Kumar

    • 27 May 20264 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair Pinky Pradhan

    U. Saravanan, Mahesh Chander Gupta, Arvind Kumar

    • 12 Aug 20264 of 4 present1 independent · 43 days in between
    • 29 Jun 20264 of 4 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditors

Named in the results for the quarter to Mar 2026.

  • M/s RSPH & AssociatesPeer-review certificate valid to Dec 2028
  • M/s Dassani & Associates LLPPeer-review certificate valid to Sep 2027
3 earlier auditors
  • Dhawan & CoNamed in the filing for the quarter to Jun 2025
  • RSPH & AssociatesNamed in the filing for the quarter to Jun 2025
  • M/s Dhawan & CoNamed 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.

National Fertilizers 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.National Fertilizers dividend history

Annual general meeting, 22 Sep 2026

2,89,487 shareholders on the register on 15 Sep 2026; present: 1 promoter and 87 others; votes counted by Pramod Kothari / M/s. Pramod Kothari & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 together with the Board’s Report and the Auditors’ Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.MoreLess
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 1.70% · other public 3.38%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.16% · other public 0.15%

  2. To declare final dividend of ₹1.04 per equity share for the financial year ended March 31, 2026.
    Ordinary
    99.92% for0.09% against

    Against: promoters 0.00% · institutions 1.69% · other public 2.13%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  3. To appoint a Director in place of Dr. U. Saravanan (DIN: 07274628), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 4.03% · other public 9.74%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  4. To appoint a Director in place of Shri Mahesh Chander Gupta (DIN: 10996394), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 9.77%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  5. To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company in terms of the provisions of Section 142(1) of the Companies Act, 2013
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.25%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  6. To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2027.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  7. To appoint Shri Kuntal Sensarma (DIN: 07626530), as Government Nominee Director of the Company.
    Ordinary
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 6.17%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  8. To appoint Shri Anurag Rohatgi (DIN: 09774170), as Government Nominee Director of the Company.
    Ordinary
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 6.21%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  9. To appoint Shri Megh Nath Goyal (DIN: 11368108), as Director (Technical) of the Company.
    Ordinary
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 5.45%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  10. To appoint Shri Arvind Kumar (DIN: 11709375), as Director (Finance) of the Company.
    Ordinary
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 7.12%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  11. To appoint Shri Mahak Singh (DIN: 11758224) as Non-Official Independent Director on the Board of the Company.
    Special
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 6.49%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  12. To adopt New set of Articles of Association of the Company.
    Special
    99.50% for0.50% against

    Against: promoters 0.00% · institutions 10.04% · other public 5.53%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  13. To increase the borrowing limits of the Company.
    Special
    99.58% for0.42% against

    Against: promoters 0.00% · institutions 8.35% · other public 6.42%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · other public 0.15%

  14. To approve the creation of charges, mortgages, hypothecation on the immoveable and moveable properties of the Company under Section 180(1)(a) of the Companies Act, 2013.
    Special
    99.58% for0.42% against

    Against: promoters 0.00% · institutions 8.35% · other public 5.79%

    Turnout: all 78.65% · promoters 100.00% · institutions 73.30% · 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, 29 Sep 2025, 13 resolutions

3,10,710 shareholders on the register on 22 Sep 2025; present: 1 promoter and 86 others; votes counted by Pramod Kothari / M/s. Pramod Kothari & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Board's Report and the Auditors' Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.17%

    Turnout: all 79.91% · promoters 100.00% · institutions 74.92% · other public 0.09%

  2. To declare final dividend of ₹ 1.56 per equity share for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.96%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  3. To appoint a Director in place of Dr. U. Saravanan (DIN: 07274628), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 1.99% · other public 5.74%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  4. To appoint a Director in place of Shri Hira Nand (DIN: 09476034), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    99.29% for0.71% against

    Against: promoters 0.00% · institutions 10.92% · other public 5.61%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  5. To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) ofthe Company in terms of the provisions of Section 142(1) of the Companies Act, 2013
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.24% · other public 5.19%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  6. To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.44%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  7. To appoint the Secretarial Auditor.
    Ordinary
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 1.74% · other public 5.61%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  8. To appoint Shri Bharat Bhushan (DIN: 03259509), as Government Nominee Director of the Company.
    Ordinary
    99.29% for0.71% against

    Against: promoters 0.00% · institutions 10.92% · other public 5.56%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  9. To appoint Shri Mahesh Chander Gupta (DIN: 10996394), as Director (Marketing) of the Company.
    Ordinary
    99.27% for0.73% against

    Against: promoters 0.00% · institutions 11.28% · other public 5.43%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  10. To appoint Ms. Ritu Goswami (DIN: 10463372), as Director (Technical) – Additional Charge of the Company.
    Ordinary
    99.29% for0.71% against

    Against: promoters 0.00% · institutions 10.92% · other public 5.56%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  11. To appoint Shri Jyoti Bhramar Tubid (DIN: 02442295) as Non-Official Independent Director on the Board of the Company.
    Special
    99.23% for0.77% against

    Against: promoters 0.00% · institutions 11.88% · other public 5.71%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  12. To appoint Shri Rabi Ranjan Sen (DIN: 09400040) as Non-Official Independent Director on the Board of the Company
    Special
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 10.70% · other public 5.58%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

  13. To appoint Ms. Pinky Pradhan (DIN: 10222011) as Non-Official Independent Director on the Board of the Company.
    Special
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 10.70% · other public 6.03%

    Turnout: all 79.91% · promoters 100.00% · institutions 75.03% · other public 0.09%

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

Annual general meeting, 27 Sep 2024, 6 resolutions

Present: 1 promoter and 73 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2024 together with the Board's Report and Auditor's Report thereon and comments of Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.40%

    Turnout: all 80.53% · promoters 100.00% · institutions 74.77% · other public 0.28%

  2. To declare final dividend of Rs. 0.27 per equity share for the financial year ended March 31, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.42%

    Turnout: all 80.53% · promoters 100.00% · institutions 74.86% · other public 0.27%

  3. To appoint a Director in place of Shri Rajan Kanwar (DIN: 09772867), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.06%

    Turnout: all 80.53% · promoters 100.00% · institutions 74.86% · other public 0.28%

  4. To appoint a Director in place of Smt. Neeraja Adidam (DIN:09351163), who retires by rotation at this Annual General Meeting and being eligible, offers herself for re-appointment.
    Ordinary
    99.59% for0.41% against

    Against: promoters 0.00% · institutions 100.00% · other public 3.08%

    Turnout: all 75.07% · promoters 100.00% · institutions 4.02% · other public 0.28%

  5. To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company in terms of the provisions of Section 142(1) of the Companies Act, 2013.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.65%

    Turnout: all 80.53% · promoters 100.00% · institutions 74.86% · other public 0.28%

  6. To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.64%

    Turnout: all 80.53% · promoters 100.00% · institutions 74.86% · other public 0.28%

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, 7 resolutions

Present: 1 promoter and 63 others.The company's voting result (opens in a new tab)

  1. Ordinary ( To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Board’s Report and the Auditors’ Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013).MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.53%

    Turnout: all 82.94% · promoters 100.00% · institutions 76.57% · other public 0.28%

  2. Ordinary (To confirm the Interim dividend of ¿ 1.53 per equity share, already paid in the month of June, 2023 and to declare final dividend of ¿ 1.26 per equity share for the financial year ended March 31, 2023). nMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.95% · promoters 100.00% · institutions 76.62% · other public 0.28%

  3. Ordinary (To appoint a Director in place of Shri Hira Nand (DIN: 09476034), who retires by rotation at this Annual General Meeting and being eligible, offers himself for nre-appointment).nn
    Ordinary
    99.71% for0.29% against

    Against: promoters 0.00% · institutions 2.95% · other public 2.09%

    Turnout: all 82.95% · promoters 100.00% · institutions 76.62% · other public 0.28%

  4. Ordinary (To appoint a Director in place of Dr. Prathibha A. (DIN: 09692712), who retires by rotation at this Annual General Meeting and being eligible, offers herself for nre-appointment).n
    Ordinary
    99.71% for0.29% against

    Against: promoters 0.00% · institutions 2.95% · other public 2.07%

    Turnout: all 82.95% · promoters 100.00% · institutions 76.62% · other public 0.28%

  5. Ordinary (To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company in terms of the provisions of Section 142(1) of the Companies Act, 2013).
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.64%

    Turnout: all 82.95% · promoters 100.00% · institutions 76.62% · other public 0.27%

  6. Ordinary (To appoint Shri U. Saravanan (DIN: 07274628), as Chairman & Managing Director of the Company).
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.86%

    Turnout: all 82.95% · promoters 100.00% · institutions 76.62% · other public 0.28%

  7. Ordinary (To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2024).
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.58%

    Turnout: all 82.95% · promoters 100.00% · institutions 76.62% · other public 0.28%

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

Postal ballot, 24 Dec 2022, 1 resolution

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

  1. To appoint Shri Rajan Kanwar (DIN: 09772867), as Director (Technical) of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.25%

    Turnout: all 86.02% · promoters 100.00% · institutions 84.32% · other public 0.48%

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

Annual general meeting, 29 Sep 2022, 8 resolutions

Present: 1 promoter and 68 others.The company's voting result (opens in a new tab)

  1. Ordinary (To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2022 together with the Board’s Report and the Auditors’ Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.)MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.43%

    Turnout: all 86.00% · promoters 100.00% · institutions 84.48% · other public 0.32%

  2. Ordinary (To appoint a Director in place of Ms. Neeraja Adidam (DIN: 09351163), who retires by rotation at this Annual General Meeting and being eligible, offers herself for re-appointment.)
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.12% · other public 19.06%

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

  3. Ordinary (To appoint a Director in place of Shri Atul Baburao Patil (DIN: 09557730), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.)
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.08% · other public 5.96%

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

  4. Ordinary (To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company)
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.92%

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

  5. Ordinary (To appoint Dr. Prathibha A. (DIN: 09692712), as Government Nominee Director of the Company)
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.78%

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

  6. Ordinary (To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2023)
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

  7. Special (To increase the borrowing limits of the Company)
    Special
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 1.20% · other public 3.08%

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

  8. Special (To approve the creation of charges, mortgages, hypothecation on the immovable and movable properties of the Company under section 180(1)(a) of the Companies Act, 2013)
    Special
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 1.20% · other public 3.05%

    Turnout: all 86.01% · promoters 100.00% · institutions 84.51% · other public 0.32%

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 Sep 2022, 1 resolution

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

  1. To appoint Shri Hira Nand (DIN: 09476034), as Director (Finance) of the Company
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 12.67%

    Turnout: all 85.03% · promoters 100.00% · institutions 75.59% · other public 0.86%

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

Postal ballot, 25 Jun 2022, 7 resolutions

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

  1. To appoint Shri Atul Baburao Patil (DIN: 09557730), as Director (Marketing) of the Company
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.84%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.60%

  2. To appoint Ms. Neeraja Adidam (DIN: 09351163) as Government Nominee Director on the Board of the Company
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.09% · other public 15.74%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.60%

  3. To appoint Dr. Poonam Sharma (DIN: 09392920) as Non-official Independent Director on the Board of the Company.
    Special
    99.53% for0.47% against

    Against: promoters 0.00% · institutions 3.39% · other public 15.59%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.60%

  4. To appoint Shri Kashi Ram Godara (DIN: 09393859) as Non-official Independent Director on the Board of the Company
    Special
    99.53% for0.47% against

    Against: promoters 0.00% · institutions 3.39% · other public 16.43%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.59%

  5. To appoint Shri Ritesh Tiwari (DIN: 07082681) as Non-official Independent Director on the Board of the Company
    Special
    99.53% for0.47% against

    Against: promoters 0.00% · institutions 3.39% · other public 16.29%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.59%

  6. To appoint Dr. Venkata Sarvarayudu Thota (DIN: 01631664) as Non-official Independent Director on the Board of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.99%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.59%

  7. To appoint Shri Jyoti Bhramar Tubid (DIN: 02442295) as Non-official Independent Director on the Board of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.55%

    Turnout: all 86.45% · promoters 100.00% · institutions 82.07% · other public 0.59%

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

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 22 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

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

  • To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 together with the Board’s Report and the Auditors’ Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.MoreLess
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
    0 for1 against
  • To declare final dividend of ₹1.04 per equity share for the financial year ended March 31, 2026.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, 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 Dr. U. Saravanan (DIN: 07274628), who retires by rotation at this Annual General Meeting and being eligible, offers himself 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.
    0 for1 against
  • To appoint a Director in place of Shri Mahesh Chander Gupta (DIN: 10996394), who retires by rotation at this Annual General Meeting and being eligible, offers himself 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.
    0 for1 against
  • To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company in terms of the provisions of Section 142(1) of the Companies Act, 2013
    1 for0 against
  • To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2027.
    1 for0 against
  • To appoint Shri Kuntal Sensarma (DIN: 07626530), as Government Nominee Director 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. Further, the director holds three full-time positions.
    0 for1 against
  • To appoint Shri Anurag Rohatgi (DIN: 09774170), as Government Nominee Director 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.
    0 for1 against
  • To appoint Shri Megh Nath Goyal (DIN: 11368108), as Director (Technical) 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.
    0 for1 against
  • To appoint Shri Arvind Kumar (DIN: 11709375), as Director (Finance) 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.
    0 for1 against
  • To appoint Shri Mahak Singh (DIN: 11758224) as Non-Official Independent Director on the Board 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
  • To adopt New set of Articles of Association of the Company.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern: AOA contains provision to appoint alternate directors on the Board.
    0 for1 against
  • To approve the creation of charges, mortgages, hypothecation on the immoveable and moveable properties of the Company under Section 180(1)(a) of the Companies Act, 2013.
    1 for0 against
1 proposal not matched to one resolution
  • To borrow money, as and when required, from, including without limitation, any Bank and /or other Financial Institutions and/or foreign lender and/or anybody Corporate/entity/entities and/or authority/authorities, any other securities or instruments, such as floating rate notes, fixed rate notes, syndicated loans, debentures, bonds, commercial papers, short term loans or any other instruments etc. and/or through credit from official agencies and/or by way of commercial borrowings from the private sector window of multilateral financial institution, either in rupees or in such other foreign currencies as may be permitted by law from time to time, as may be deemed appropriate by the Board for an aggregate amount not exceeding Rs. 27000 Crore (comprising fund based limit of Rs. 12000 Crore and Non-fund based limit of Rs. 15000 Crore with both way interchangeability between fund based and Non-fund based limit), notwithstanding that money so borrowed together with the monies already borrowed by the Company, if any (apart from temporary loans obtained from the Company's Bankers in the ordinary course of business) may, at any time, exceed the aggregate of the paid-up share capital of the Company and its free reserves.MoreLess
    1 for0 against

Mutual fund votes, meeting of 29 Sep 2025, 5 fund houses

  • To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Board's Report and the Auditors' Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.MoreLess
    5 for0 against
  • To declare final dividend of ₹ 1.56 per equity share for the financial year ended March 31, 2025.
    5 for0 against
  • To appoint a Director in place of Dr. U. Saravanan (DIN: 07274628), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Holding combined position of Chairman and Managing Director; Two full time positions.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Holding combined position of Chairman and Managing Director; Two full time positions.
    1 for4 against
  • To appoint a Director in place of Shri Hira Nand (DIN: 09476034), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
    1 for4 against
  • To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) ofthe Company in terms of the provisions of Section 142(1) of the Companies Act, 2013
    5 for0 against
  • To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2026.
    5 for0 against
  • To appoint the Secretarial Auditor.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundCredentials & Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice. Transparency Concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with Regulation 36(5) of SEBI LODR, 2015: Credentials & Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice. Transparency Concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
    1 for4 against
  • To appoint Shri Bharat Bhushan (DIN: 03259509), as Government Nominee Director of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders’ approval.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders’ approval.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    0 for5 against
  • To appoint Shri Mahesh Chander Gupta (DIN: 10996394), as Director (Marketing) of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders’ approval.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders’ approval.
    1 for4 against
  • To appoint Ms. Ritu Goswami (DIN: 10463372), as Director (Technical) – Additional Charge of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
    1 for4 against
  • To appoint Shri Jyoti Bhramar Tubid (DIN: 02442295) as Non-Official Independent Director on the Board of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, 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 directorships, 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)
    0 for5 against
  • To appoint Shri Rabi Ranjan Sen (DIN: 09400040) as Non-Official Independent Director on the Board of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance 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. 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)
    0 for5 against
  • To appoint Ms. Pinky Pradhan (DIN: 10222011) as Non-Official Independent Director on the Board of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance 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. 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)
    0 for5 against
2 earlier meetings

Mutual fund votes, meeting of 27 Sep 2024, 3 fund houses

  • To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2024 together with the Board's Report and Auditor's Report thereon and comments of Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013.MoreLess
    3 for0 against
  • To declare final dividend of Rs. 0.27 per equity share for the financial year ended March 31, 2024.
    3 for0 against
  • To appoint a Director in place of Shri Rajan Kanwar (DIN: 09772867), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment.
    3 for0 against
  • To appoint a Director in place of Smt. Neeraja Adidam (DIN:09351163), who retires by rotation at this Annual General Meeting and being eligible, offers herself for re-appointment.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Low attendance - attended only 1 Board meeting each during FY 2023-24 & FY 2022-23, Three full time positions.
    0 for3 against
  • To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company in terms of the provisions of Section 142(1) of the Companies Act, 2013.
    3 for0 against
  • To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2025.
    3 for0 against

Mutual fund votes, meeting of 29 Sep 2023, 2 fund houses

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

  • Ordinary ( To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Board’s Report and the Auditors’ Report thereon and comments of the Comptroller & Auditor General of India, in terms of Section 143(6) of the Companies Act, 2013).MoreLess
    1 for0 against
  • Ordinary (To confirm the Interim dividend of ¿ 1.53 per equity share, already paid in the month of June, 2023 and to declare final dividend of ¿ 1.26 per equity share for the financial year ended March 31, 2023). nMoreLess
    1 for0 against
  • Ordinary (To appoint a Director in place of Shri Hira Nand (DIN: 09476034), who retires by rotation at this Annual General Meeting and being eligible, offers himself for nre-appointment).nn
    1 for0 against
  • Ordinary (To appoint a Director in place of Dr. Prathibha A. (DIN: 09692712), who retires by rotation at this Annual General Meeting and being eligible, offers herself for nre-appointment).n
    1 for0 against
  • Ordinary (To authorize Board of Directors of the Company to fix the remuneration of the Statutory Auditor(s) of the Company in terms of the provisions of Section 142(1) of the Companies Act, 2013).
    1 for0 against
  • Ordinary (To appoint Shri U. Saravanan (DIN: 07274628), as Chairman & Managing Director of the Company).
    1 for0 against
  • Ordinary (To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2024).
    1 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 and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyNational Stock ExchangeSince 25 Aug 2026

    Penalty for Non-Compliance

    Non-Compliance of Regulation 17(1), 18(1) and 19(1) of SEBI (LODR) Regulations, 2015.
  • Fine or penaltyBSE LimitedSince 25 Aug 2026

    Penalty for Non-Compliance

    Non-Compliance of Regulation 17(1), 18(1) and 19(1) of SEBI (LODR) Regulations, 2015.
  • Tax disputeCESTAT, AhmedabadSince 28 Mar 2019
    Bench was not sitting on 03.06.2026. Next date of hearing is yet to be scheduled.
    At the filing before: Bench was not sitting on 03.06.2026. Next date of hearing is scheduled to be held on 23.07.2026.
  • Tax disputeGST Department, GunturSince 30 Apr 2025
    Final order from the department passed on 30.09.2026 as our appeal is rejected. Now NFL will file appeal in Goods and Services Tax Appellate Tribunal.
    At the filing before: Pending with Commissioner (Appeals). Guntur
  • Tax disputeGST Department, BiharSince 20 Feb 2025
    Next hearing is scheduled on 30.10.2026, final submission filed.
    At the filing before: Pending with the Commissioner (Appeals), Bihar
  • Tax disputeGST Department, GunturSince 29 Jan 2025
    Final order from the department passed on 30.09.2026 as our appeal is rejected. Now NFL will file appeal in Goods and Services Tax Appellate Tribunal.
    At the filing before: Pending with the Commissioner (Appeals), Guntur
  • Tax disputeGST Department, GunturSince 4 Jul 2025
    Final order from the department passed on 30.09.2026 as our appeal is rejected. Now NFL will file appeal in Goods and Services Tax Appellate Tribunal.
    At the filing before: Pending with the Commissioner (Appeals), Guntur
  • Tax disputeGST Department, BiharSince 23 Dec 2025
    Next hearing is scheduled on 23.10.2026.
    At the filing before: Order u/s 73(9) of BGST/CGST Act, 2017 pursuant to notice isued u/s 61 of BGST/CGST Act, 2017 railsing demand of Rs. 61.65 Lacs on the following grounds in FY 2021-22: 1. Wrongly claimed ITC u/s 16(2) 2. Non-reversal of ITC by the recipient of Credit Notes 3. Ineligible ITC u/s 17(5) Appeal filed Commissioner (A) on 05.02.2026MoreLess
6 more
  • Tax disputeGST Department, NangalSince 27 Aug 2026
    Appeal filed with Commissioner (A) on 27.08.2026.
  • Tax disputeGST Department, GujaratSince 28 Aug 2026
    Appeal filed with Commissioner (A) on 28.08.2026. Pending with Commissioner (A). (June,2024 to August, 2024)
  • Tax disputeGST Department, GujaratSince 28 Aug 2026
    Appeal filed with Commissioner (A) on 28.08.2026. Pending with Commissioner (A). (October, 2024)
  • Tax disputeGST Department, GujaratSince 28 Aug 2026
    Appeal filed with Commissioner (A) on 28.08.2026. Pending with Commissioner (A). (March, 2024)
  • Tax disputeGST Department, GujaratSince 28 Aug 2026
    Appeal filed with Commissioner (A) on 28.08.2026. Pending with Commissioner (A). (April, 2024)
  • Tax disputeGST Department, GujaratSince 28 Aug 2026
    Appeal filed with Commissioner (A) on 28.08.2026. Pending with Commissioner (A). (February, 2024)

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
No
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
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.