NGL Fine-Chem logo

NGL Fine-Chem MD, chairman, board of directors and AGM

NSE: NGLFINEBSE: 524774Pharmaceuticals & BiotechnologySmall Cap

Last close ₹2,645.20down ₹1.30 (0.05%)BSE ₹2,644.20

Share price at the NSE close on 23 Oct 2026. Previous close ₹2,646.50.

52-week range of traded prices to 23 Oct 2026
₹1,271.00Low, 19 Dec 2025₹3,602.00High, 12 Aug 2026
Market cap
₹1,634 Cr1,319th largest listed
P/E
28.6
P/B
5.0
Dividend yield
0.07%
ROE
18.7%
ROCE
14.5%
Debt to equity
0.33
Volume, NSE
19,36028.7% delivered

NGL Fine-Chem board of directors

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

  • Managing directorRAHUL NACHANE
  • ChairpersonDHANANJAY MUNGALE
  • Company Secretary and Compliance OfficerShivam Gharat

6 directors3 independent2 executive1 non-executive

  • RAHUL NACHANE · Managing directorExecutive · joined Jan 1993 · reappointed Jun 2025 · 1 listed board · 1 committee seat
  • RAJESH LAWANDEExecutive · joined Jun 2015 · reappointed Jun 2026 · 1 listed board · 1 committee seat
  • AJITA NACHANENon-executive · joined Sep 2014 · reappointed Sep 2014 · 1 listed board · 1 committee seat
  • DHANANJAY MUNGALE · ChairpersonIndependent · joined Mar 2024 · reappointed Mar 2024 · 27 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 3 as chair
  • SUDHIR DEOIndependent · joined May 2025 · reappointed May 2025 · 13 months as independent · 2 listed boards · 1 as independent · 1 committee seat
  • SARALA MENONIndependent · joined Dec 2021 · reappointed Dec 2021 · 54 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.

1 director who left
  • JAYARAM SITARAM, left 4 Aug 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 21 May 20266 of 6 present3 independent · 106 days in between
    • 3 Feb 20266 of 6 present3 independent

  • Audit Committee

    Chair DHANANJAY MUNGALE

    RAJESH LAWANDE, SUDHIR DEO, SARALA MENON

    • 21 May 20264 of 4 present3 independent · 106 days in between
    • 3 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair SARALA MENON

    AJITA NACHANE, DHANANJAY MUNGALE

    • 21 May 20263 of 3 present2 independent · 107 days in between
    • 2 Feb 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair SARALA MENON

    RAHUL NACHANE, AJITA NACHANE

    • 21 May 20263 of 3 present1 independent · 107 days in between
    • 2 Feb 20263 of 3 present1 independent

  • Risk Management Committee

    Chair RAHUL NACHANE

    RAJESH LAWANDE, AJITA NACHANE, SUDHIR DEO

    • 21 May 20264 of 4 present1 independent · 190 days in between
    • 11 Nov 20254 of 4 present1 independent

  • Corporate Social Responsibility Committee

    Chair SARALA MENON

    RAJESH LAWANDE, AJITA NACHANE

    • 21 May 20263 of 3 present1 independent

  • ADMINISTRATIVE COMMITTEE

    Chair RAHUL NACHANE

    RAJESH LAWANDE, AJITA NACHANE

    • 29 Jun 20263 of 3 present0 independent · 16 days in between
    • 12 Jun 20263 of 3 present0 independent · 51 days in between
    • 21 Apr 20263 of 3 present0 independent

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • M/s. Manek & AssociatesPeer-review certificate valid to Jan 2029
1 earlier auditor
  • SHAILESH MANEK & ASSOCIATESNamed 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.

NGL Fine-Chem 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.NGL Fine-Chem dividend history

Annual general meeting, 25 Aug 2026

13,525 shareholders on the register on 18 Aug 2026; present: 3 promoters and 39 others; votes counted by Mr. Hemant Shetye / HSPN & Associates LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended March 31, 2026 and the Reports of the Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.21% · promoters 99.98% · institutions 21.40% · other public 2.59%

  2. To declare Final Dividend on Equity Shares for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.21% · promoters 99.98% · institutions 21.40% · other public 2.59%

  3. To appoint Mr. Rajesh Lawande, Director (DIN: 00327301), who retires by rotation & being eligible offers himself for re-appointment as Director.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 47.86% · other public 0.13%

    Turnout: all 51.32% · promoters 69.78% · institutions 21.40% · other public 2.59%

  4. To re-appoint Mr. Rajesh Lawande (DIN 00327301), as a Whole-Time Director of the Company.
    SpecialPromoters have an interest in it
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.13%

    Turnout: all 51.32% · promoters 69.78% · institutions 21.40% · other public 2.59%

  5. To re-appoint Mrs. Sarala Menon (DIN: 09433901) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 73.21% · promoters 99.98% · institutions 21.40% · other public 2.59%

  6. To ratify remuneration payable to the Cost Auditor.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.21% · promoters 99.98% · institutions 21.40% · other public 2.59%

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.

Annual general meeting, 19 Aug 2025, 8 resolutions

13,835 shareholders on the register on 12 Aug 2025; present: 5 promoters and 22 others; votes counted by Mr. Hemant Shetye / HSPN & Associates LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2025 and the Reports of the Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.74% · promoters 99.98% · institutions 0.00% · other public 0.07%

  2. To declare Final dividend for the financial year ended 31st March, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.74% · promoters 99.98% · institutions 0.00% · other public 0.07%

  3. To re-appoint Mrs. Ajita Nachane, Director (holding DIN 00279241) who retires by rotation & being eligible offers herself for re-appointment as Director.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 43.67% · promoters 60.01% · institutions 0.00% · other public 0.07%

  4. To re-appoint Mr. Rahul Nachane, as a Managing Director of the Company
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.02%

    Turnout: all 43.67% · promoters 60.01% · institutions 0.00% · other public 0.07%

  5. To appoint Mr. Sudhir Deo (DIN: 01122338) as an Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 72.74% · promoters 99.98% · institutions 0.00% · other public 0.07%

  6. To revise remuneration of Mr. Rajesh Lawande (DIN: 00327301), Whole-Time Director of the Company
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.02%

    Turnout: all 39.31% · promoters 54.02% · institutions 0.00% · other public 0.07%

  7. To appoint HSPN & Associates LLP, as Secretarial Auditor of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 72.74% · promoters 99.98% · institutions 0.00% · other public 0.07%

  8. To ratify remuneration payable to the Cost Auditor.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.74% · promoters 99.98% · institutions 0.00% · other public 0.07%

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

Annual general meeting, 23 Aug 2024, 4 resolutions

Present: 5 promoters and 38 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2024 and the Reports of the Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 30.76% · promoters 41.62% · institutions 0.00% · other public 1.79%

  2. To declare Final dividend for the financial year ended 31st March, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 30.78% · promoters 41.62% · institutions 0.00% · other public 1.85%

  3. To re-appoint Mr. Rajesh Lawande, Director (holding DIN 00327301) who retires by rotation & being eligible offers himself for re-appointment as Director.
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.18%

    Turnout: all 8.89% · promoters 11.52% · institutions 0.00% · other public 1.85%

  4. To ratify remuneration payable to the Cost Auditor.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 30.78% · promoters 41.62% · institutions 0.00% · other public 1.85%

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, 18 Apr 2024, 1 resolution

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

  1. Appointment of Mr. Dhananjay Mungale (DIN:00007563) as an Independent Director
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 44.55% · promoters 60.03% · institutions 0.00% · other public 3.25%

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 2023, 4 resolutions

Present: 4 promoters and 39 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2023 and the Reports of the Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 45.62% · promoters 60.47% · institutions 0.00% · other public 4.35%

  2. To declare Final dividend for the financial year ended 31st March, 2023.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 45.62% · promoters 60.47% · institutions 0.00% · other public 4.35%

  3. To re-appoint Mrs Ajita Nachane, Director (holding DIN 00279241) who retires by rotation and being eligible offers herself for re-appointment as Director.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 45.60% · promoters 60.45% · institutions 0.00% · other public 4.35%

  4. To modify the terms of appointment of Mr Ahaan Nachane, Vice President of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 45.60% · promoters 60.45% · institutions 0.00% · other public 4.35%

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 19 Aug 2025, 2 fund houses

  • To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2025 and the Reports of the Directors and the Auditors thereon.MoreLess
    2 for0 against
  • To declare Final dividend for the financial year ended 31st March, 2025.
    2 for0 against
  • To re-appoint Mrs. Ajita Nachane, Director (holding DIN 00279241) who retires by rotation & being eligible offers herself for re-appointment as Director.
    2 for0 against
  • To re-appoint Mr. Rahul Nachane, as a Managing Director of the Company
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundRahul Jayant Nachane, 61, part of the promoter group and Managing Director, has been on the board since January 1993. In FY25, he attended all four board meetings. His remuneration for FY25 was Rs. 18.3 mn - ~34% being variable in the form of commission. The proposed remuneration is a fixed amount of Rs. 40.0 mn. We note proposed remuneration is significantly higher than the past, with no supporting rationale. In addition, proposed executive promoter group remuneration, at Rs. 80.0 mn (entirely fixed) at 29% of FY25 PBT is high for the size of the business. It is unclear how the NRC has benchmarked the executive remuneration. While we support his reappointment, we do not support the resolution due to concerns over the proposed remuneration.
    1 for1 against
  • To appoint Mr. Sudhir Deo (DIN: 01122338) as an Independent Director of the Company
    2 for0 against
  • To revise remuneration of Mr. Rajesh Lawande (DIN: 00327301), Whole-Time Director of the Company
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundRajesh Narayan Lawande, 49, part of promoter group, at 2021 AGM was reappointed as Whole-Time Director for five years from 01 June 2021. Approval is being sought for payment of remuneration for his residual term. For FY25, remuneration paid was Rs. 18.2 mn: ~34% being variable. His proposed remuneration for the remaining part of his term is Rs. 40.0 mn- entirely fixed. We note proposed remuneration is significantly higher than the past, with no supporting rationale. In addition, proposed executive promoter remuneration, at Rs. 80.0 mn (entirely fixed), at 29% of FY25 PBT is high for the size of the business. It is unclear how the NRC has benchmarked the executive remuneration. We do not support the resolution.
    1 for1 against
  • To appoint HSPN & Associates LLP, as Secretarial Auditor of the Company.
    2 for0 against
  • To ratify remuneration payable to the Cost Auditor.
    2 for0 against

Mutual fund votes, meeting of 23 Aug 2024, 1 fund house

  • To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2024 and the Reports of the Directors and the Auditors thereon.MoreLess
    1 for0 against
  • To declare Final dividend for the financial year ended 31st March, 2024.
    1 for0 against
  • To re-appoint Mr. Rajesh Lawande, Director (holding DIN 00327301) who retires by rotation & being eligible offers himself for re-appointment as Director.
    1 for0 against
  • To ratify remuneration payable to the Cost Auditor.
    1 for0 against
2 earlier meetings

Mutual fund votes, meeting of 18 Apr 2024, 1 fund house

  • Appointment of Mr. Dhananjay Mungale (DIN:00007563) as an Independent Director
    1 for0 against

Mutual fund votes, meeting of 25 Aug 2023, 1 fund house

  • To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2023 and the Reports of the Directors and the Auditors thereon.MoreLess
    1 for0 against
  • To declare Final dividend for the financial year ended 31st March, 2023.
    1 for0 against
  • To re-appoint Mrs Ajita Nachane, Director (holding DIN 00279241) who retires by rotation and being eligible offers herself for re-appointment as Director.
    1 for0 against
  • To modify the terms of appointment of Mr Ahaan Nachane, Vice President of the Company
    1 for0 against

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

Fines

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyNational Stock Exchange of India LimitedSince 15 Jun 2026

    levy of fine

    Regulation 29(2)Delay in furnishing prior intimation about the meeting of the board of directors held on 21-05-2026
  • Fine or penaltyBSE LimitedSince 15 Jun 2026

    levy of fine

    Regulation 29(2)Delay in furnishing prior intimation about the meeting of the board of directors held on 21-05-2026

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.