Oracle Financial Services Software logo

Oracle Financial Services Software CEO, MD, chairman, board of directors and AGM

NSE: OFSSBSE: 532466IT - SoftwareMid Cap

Formerly I-Flex Solutions
Last close ₹9,677.00down ₹166.00 (1.69%)BSE ₹9,647.35

Share price at the NSE close on 23 Oct 2026. Previous close ₹9,843.00.

52-week range of traded prices to 23 Oct 2026
₹6,234.50Low, 17 Mar 2026₹12,540.00High, 31 Aug 2026
Market cap
₹84,289 Cr148th largest listed
P/E
24.7
P/B
10.8
Dividend yield
4.13%
ROE
42.2%
ROCE
56.8%
Debt to equity
0.00
Volume, NSE
2,03,71727.0% delivered

Oracle Financial Services Software 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

  • ChairpersonJANE MURPHY
  • Managing director and CEOAVADHUT DIGAMBAR KETKAR
  • Company Secretary and Compliance OfficerOnkarnath Banerjee

9 directors3 independent1 executive5 non-executive

  • KIMBERLY WOOLLEYNon-executive · joined Mar 2017 · 1 listed board · 1 committee seat
  • JANE MURPHY · ChairpersonIndependent · joined Feb 2019 · reappointed Jan 2024 · 91 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • GOPALA RAMANAN BALASUBRAMANIAMNon-executive · joined Oct 2023 · 1 listed board · 1 committee seat
  • MRUGANK MADHUKAR PARANJAPEIndependent · joined Dec 2023 · 34 months as independent · 2 listed boards · 2 as independent
  • KAVITA VENUGOPALIndependent · joined Mar 2025 · 19 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
  • NIAN NIAN YUANNon-executive · joined Jun 2025 · 1 listed board
  • SIMON DE MONTFORT WALKERNon-executive · joined Feb 2026 · 1 listed board
  • ANDREW MARK MORAWSKINon-executive · joined Jul 2026 · 1 listed board
  • AVADHUT DIGAMBAR KETKAR · Managing director and CEOExecutive · joined Jul 2026 · 1 listed board · 1 committee seat

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.

4 directors who left
  • MAKARAND PADALKAR, left 23 Jul 2026: Others
  • HARINDERJIT SINGH, left 22 Jan 2026: Others
  • VINCENT SECONDO GRELLI, left 31 Oct 2025: Others
  • YONG MENG KAU, left 30 May 2025: Others

Committees and meetings

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

  • Board

    • 22 Jul 20268 of 8 present3 independent · 41 days in between
    • 10 Jun 20268 of 8 present3 independent · 48 days in between
    • 22 Apr 20268 of 8 present3 independent

  • Audit Committee

    Chair MRUGANK MADHUKAR PARANJAPE

    JANE MURPHY, KAVITA VENUGOPAL, GOPALA RAMANAN BALASUBRAMANIAM

    • 22 Jul 20263 of 3 present3 independent · 90 days in between
    • 22 Apr 20263 of 3 present3 independent · 8 days in between
    • 13 Apr 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair MRUGANK MADHUKAR PARANJAPE

    JANE MURPHY, SIMON DE MONTFORT WALKER

    • 22 Jul 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair JANE MURPHY

    KIMBERLY WOOLLEY, AVADHUT DIGAMBAR KETKAR

    No meeting listed in the filing.

  • Risk Management Committee

    Chair MRUGANK MADHUKAR PARANJAPE

    AVADHUT DIGAMBAR KETKAR, KAVITA VENUGOPAL, MANISH JAGDISH BHANDARI

    • 30 Jul 20264 of 4 present2 independent · 7 days in between

  • Corporate Social Responsibility Committee

    Chair KIMBERLY WOOLLEY

    JANE MURPHY, AVADHUT DIGAMBAR KETKAR

    No meeting listed in the filing.

  • ESOP Allotment Committee

    Chair MRUGANK MADHUKAR PARANJAPE

    MAKARAND PADALKAR, GOPALA RAMANAN BALASUBRAMANIAM, KAVITA VENUGOPAL, AVADHUT DIGAMBAR KETKAR

    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.

  • S. R. Batliboi & Associates 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.

Oracle Financial Services Software 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.Oracle Financial Services Software dividend history

Postal ballot, 2 Oct 2026

1,25,287 shareholders on the register on 28 Aug 2026; votes counted by Prashant Diwan / M/s P. Diwan & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Avadhut Ketkar (DIN: 02353654) as the Managing Director and Chief Executive Officer of the Company.
    OrdinaryPromoters have an interest in it
    99.56% for0.44% against

    Against: promoters 0.00% · institutions 2.31% · other public 0.66%

    Turnout: all 89.49% · promoters 100.00% · institutions 89.23% · other public 1.89%

  2. Appointment of Mr. Andrew Mark Morawski (DIN: 11775252) as a Non-Executive, Non-Independent Director of the Company.
    Ordinary
    98.96% for1.04% against

    Against: promoters 0.00% · institutions 5.52% · other public 0.64%

    Turnout: all 89.49% · promoters 100.00% · institutions 89.23% · other public 1.89%

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 Jul 2026, 5 resolutions

1,27,795 shareholders on the register on 16 Jul 2026; present: 1 promoter and 60 others; votes counted by Prashant Diwan / M/s P. Diwan & Associates.The company's voting result (opens in a new tab)

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

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

    Turnout: all 88.43% · promoters 100.00% · institutions 84.65% · other public 3.08%

  2. To confirm the payment of 1st interim dividend of ₹ 130 per equity share and 2nd interim dividend of ₹ 270 per equity share, already paid, as the final dividend for the financial year ended March 31, 2026.MoreLess
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 1.06% · other public 0.02%

    Turnout: all 88.45% · promoters 100.00% · institutions 84.74% · other public 3.08%

  3. To appoint a Director in place of Kimberly Woolley (DIN: 07741017) who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    99.64% for0.36% against

    Against: promoters 0.00% · institutions 2.04% · other public 0.09%

    Turnout: all 88.44% · promoters 100.00% · institutions 84.68% · other public 3.08%

  4. To appoint a Director in place of Gopala Ramanan Balasubramaniam (DIN: 02785489) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.63% for0.37% against

    Against: promoters 0.00% · institutions 2.10% · other public 0.09%

    Turnout: all 88.44% · promoters 100.00% · institutions 84.68% · other public 3.08%

  5. To approve payment of commission to the Directors of the Company (excluding the Managing Director and Whole-time Director), not exceeding in aggregate one percent of the net profits of the Company per financial year for a period of five years commencing from April 1, 2027 to March 31, 2032.MoreLess
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.22% · other public 0.31%

    Turnout: all 88.44% · promoters 100.00% · institutions 84.68% · other public 3.08%

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 Apr 2026, 1 resolution

1,48,628 shareholders on the register on 27 Feb 2026; votes counted by Prashant Diwan / M/s P. Diwan & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Simon de Montfort Walker (DIN: 11549486) as a Non-Executive, Non-Independent Director of the Company
    Ordinary
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 1.85% · other public 1.05%

    Turnout: all 88.10% · promoters 100.00% · institutions 90.37% · other public 2.14%

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

Annual general meeting, 24 Jul 2025, 6 resolutions

1,35,433 shareholders on the register on 17 Jul 2025; present: 1 promoter and 61 others; votes counted by Prashant Diwan / M/s P. Diwan & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (including the consolidated financial statements) of the Company for the financial year ended March 31, 2025 and the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.01% · other public 5.12%

    Turnout: all 87.83% · promoters 100.00% · institutions 88.47% · other public 2.91%

  2. To confirm the payment of interim dividend of Rs. 265 per equity share already paid, as the final dividend for the financial year ended March 31, 2025.
    Ordinary
    99.98% for0.02% against

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

    Turnout: all 87.89% · promoters 100.00% · institutions 88.81% · other public 2.91%

  3. To appoint a Director in place of Mr. Harinderjit Singh (DIN: 06628566) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.93% for1.07% against

    Against: promoters 0.00% · institutions 6.16% · other public 5.19%

    Turnout: all 87.88% · promoters 100.00% · institutions 88.80% · other public 2.91%

  4. To appoint a Director in place of Mr. Makarand Padalkar (DIN: 02115514) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 1.14% · other public 5.65%

    Turnout: all 87.88% · promoters 100.00% · institutions 88.81% · other public 2.86%

  5. To appoint Mr. Nian Nian Yuan (DIN: 11107498) as the Non-Executive, Non-Independent Director of the Company.
    Ordinary
    99.66% for0.34% against

    Against: promoters 0.00% · institutions 1.83% · other public 7.21%

    Turnout: all 87.88% · promoters 100.00% · institutions 88.81% · other public 2.91%

  6. To appoint M/s P. Diwan & Associates, Practicing Company Secretaries (Firm Registration Number - MU000011288) as Secretarial Auditors of the Company for a period of five consecutive years commencing from financial year 2025-26 till financial year 2029-30.MoreLess
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.11% · other public 5.14%

    Turnout: all 87.88% · promoters 100.00% · institutions 88.81% · other public 2.91%

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, 6 Apr 2025, 1 resolution

1,24,785 shareholders on the register on 5 Mar 2025; votes counted by Prashant Diwan / Prashant Diwan.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Kavita Venugopal (DIN: 07551521) as Non‐Executive, Independent Director of the Company.
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.28% · other public 1.18%

    Turnout: all 87.68% · promoters 100.00% · institutions 84.40% · other public 2.10%

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 Jul 2024, 4 resolutions

Present: 1 promoter and 61 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (including the consolidated financial statements) of the Company for the financial year ended March 31, 2024 and the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.12% · other public 0.01%

    Turnout: all 88.40% · promoters 100.00% · institutions 91.00% · other public 2.99%

  2. To appoint a Director in place of Ms. Kimberly Woolley (DIN: 07741017) who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 1.39% · other public 0.06%

    Turnout: all 88.44% · promoters 100.00% · institutions 91.24% · other public 2.99%

  3. To appoint a Director in place of Mr. Vincent Secondo Grelli (DIN: 08262388) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 3.20% · other public 0.07%

    Turnout: all 88.44% · promoters 100.00% · institutions 91.24% · other public 2.99%

  4. To confirm the payment of interim dividend of ₹ 240 per equity share already paid, as the final dividend for the financial year ended March 31, 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.44% · promoters 100.00% · institutions 91.25% · other public 2.99%

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, 11 Jan 2024, 1 resolution

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

  1. Appointment of Mr. Mrugank Paranjape (DIN: 02162026) as Non-Executive, Independent Director of the Company
    Special
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 1.09% · other public 1.14%

    Turnout: all 88.39% · promoters 100.00% · institutions 94.44% · other public 2.05%

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

Postal ballot, 30 Nov 2023, 2 resolutions

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

  1. Appointment of Mr. Makarand Padalkar (DIN: 02115514) as the Managing Director and Chief Executive Officer of the Company
    Ordinary
    94.98% for5.02% against

    Against: promoters 0.00% · institutions 28.76% · other public 1.40%

    Turnout: all 88.43% · promoters 100.00% · institutions 94.36% · other public 2.04%

  2. Appointment of Mr. Gopala Ramanan Balasubramaniam (DIN: 02785489) as the Non-Executive, Non-Independent Director of the Company
    Ordinary
    94.43% for5.57% against

    Against: promoters 0.00% · institutions 31.95% · other public 1.09%

    Turnout: all 88.43% · promoters 100.00% · institutions 94.36% · other public 2.04%

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

How mutual funds voted

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

Mutual fund votes, meeting of 23 Jul 2026, 13 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Financial Statements (including the consolidated financial statements) of the Company for the financial year ended March 31, 2026 and the Reports of the Board of Directors and Auditors thereon.MoreLess
    13 for0 against
  • To confirm the payment of 1st interim dividend of ₹ 130 per equity share and 2nd interim dividend of ₹ 270 per equity share, already paid, as the final dividend for the financial year ended March 31, 2026.MoreLess
    13 for0 against
  • To appoint a Director in place of Kimberly Woolley (DIN: 07741017) who retires by rotation and being eligible, offers herself for re-appointment.
    13 for0 against
  • To appoint a Director in place of Gopala Ramanan Balasubramaniam (DIN: 02785489) who retires by rotation and being eligible, offers himself for re-appointment.
    13 for0 against
  • To approve payment of commission to the Directors of the Company (excluding the Managing Director and Whole-time Director), not exceeding in aggregate one percent of the net profits of the Company per financial year for a period of five years commencing from April 1, 2027 to March 31, 2032.MoreLess
    13 for0 against

Mutual fund votes, meeting of 3 Apr 2026, 26 fund houses

  • Appointment of Mr. Simon de Montfort Walker (DIN: 11549486) as a Non-Executive, Non-Independent Director of the Company
    26 for0 against
6 earlier meetings

Mutual fund votes, meeting of 4 Aug 2025, 1 fund house

  • Appointment of Ms. Kavita Venugopal (DIN: 07551521) as Non-Executive, Independent Director of the Company
    1 for0 against

Mutual fund votes, meeting of 24 Jul 2025, 29 fund houses

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

  • To receive, consider and adopt the Audited Financial Statements (including the consolidated financial statements) of the Company for the financial year ended March 31, 2025 and the Reports of the Board of Directors and Auditors thereon.MoreLess
    28 for0 against
  • To confirm the payment of interim dividend of Rs. 265 per equity share already paid, as the final dividend for the financial year ended March 31, 2025.
    28 for0 against
  • To appoint a Director in place of Mr. Harinderjit Singh (DIN: 06628566) who retires by rotation and being eligible, offers himself for re-appointment.
    29 for0 against
  • To appoint a Director in place of Mr. Makarand Padalkar (DIN: 02115514) who retires by rotation and being eligible, offers himself for re-appointment.
    29 for0 against
  • To appoint Mr. Nian Nian Yuan (DIN: 11107498) as the Non-Executive, Non-Independent Director of the Company.
    29 for0 against
  • To appoint M/s P. Diwan & Associates, Practicing Company Secretaries (Firm Registration Number - MU000011288) as Secretarial Auditors of the Company for a period of five consecutive years commencing from financial year 2025-26 till financial year 2029-30.MoreLess
    28 for0 against
3 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 6, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 6 Apr 2025, 28 fund houses

  • Appointment of Ms. Kavita Venugopal (DIN: 07551521) as Non‐Executive, Independent Director of the Company.
    28 for0 against

Mutual fund votes, meeting of 25 Jul 2024, 28 fund houses

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

  • To receive, consider and adopt the Audited Financial Statements (including the consolidated financial statements) of the Company for the financial year ended March 31, 2024 and the Reports of the Board of Directors and Auditors thereon.MoreLess
    26 for0 against
  • To appoint a Director in place of Ms. Kimberly Woolley (DIN: 07741017) who retires by rotation and being eligible, offers herself for re-appointment.
    26 for0 against
  • To appoint a Director in place of Mr. Vincent Secondo Grelli (DIN: 08262388) who retires by rotation and being eligible, offers himself for re-appointment.
    26 for0 against
  • To confirm the payment of interim dividend of ₹ 240 per equity share already paid, as the final dividend for the financial year ended March 31, 2024
    26 for0 against
5 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
  • 1. To receive, consider and adopt the Audited Financial Statements (including the consolidated financial statements) of the Company for the financial year ended March 31, 2024 and the Reports of the Board of Directors and Auditors thereon. 2. To appoint a Director in place of Ms. Kimberly Woolley (DIN: 07741017) who retires by rotation and being eligible, offers herself for re-appointment. 3. To appoint a Director in place of Mr. Vincent Secondo Grelli (DIN: 08262388) who retires by rotation and being eligible, offers himself for re-appointment. 4. To confirm the payment of interim dividend of Rs. 240 per equity share already paid, as the final dividend for the financial year ended March 31, 2024MoreLess
    1 for0 against

Mutual fund votes, meeting of 11 Jan 2024, 24 fund houses

  • Appointment of Mr. Mrugank Paranjape (DIN: 02162026) as Non-Executive, Independent Director of the Company
    24 for0 against

Mutual fund votes, meeting of 30 Nov 2023, 16 fund houses

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

  • Appointment of Mr. Makarand Padalkar (DIN: 02115514) as the Managing Director and Chief Executive Officer of the Company
    Against HSBC Mutual Fund
    • HSBC Mutual FundThe board has not disclosed the amount of stock options that the executive is entitled to receive each year. This might lead to discretionary payouts. He is also entitled to a performance bonus, however, there are no disclosures on the quantum of bonus which will be paid under this element.
    14 for1 against
  • Appointment of Mr. Gopala Ramanan Balasubramaniam (DIN: 02785489) as the Non-Executive, Non-Independent Director of the Company
    Against HSBC Mutual Fund
    • HSBC Mutual FundThe board independence norms are not met and Gopala Balasubramaniam is a non-independent director nominee.
    14 for1 against
2 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against

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

Fines

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyIncome Tax Department, National Faceless Penalty CentreSince 24 Sep 2026

    The Company has received penalty order from the Income Tax Department under section 271(1)(c) of the Income-tax Act, 1961, imposing a penalty of Rs. 615,268/- for Assessment Year 2013-14.

    Alleged furnishing of inaccurate particulars of income.

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.