Polycab India MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 10 May 2026, 37 fund houses

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

• Re-appointment of Ms. Sutapa Banerjee (DIN: 02844650) as an Independent Director of the Company

  ›Against Franklin Templeton Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted since she sits on more than four public company boards and is considered overboarded.

  36 for1 against
• Re-appointment of Mr. Bhaskar Sharma (DIN: 02871367) as an Independent Director of the Company.

  36 for0 against

Mutual fund votes, meeting of 22 Feb 2026, 41 fund houses

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

• Re-appointment of Mrs. Manju Agarwal (DIN:06921105) for a second term as an Independent Director of the company.

  ›Against 360 One Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Old Bridge Mutual Fund, PGIM India Mutual Fund, PPFAS Mutual Fund, Sundaram Mutual Fund, The Wealth Company Mutual Fund, Trust Mutual Fund, Unifi Mutual Fund, Zerodha Mutual Fund

  • 360 One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Trust Mutual Fund, Zerodha Mutual FundPrior approval of shareholders not obtained for re-appointment as an ID. Director has failed in fiduciary duty in another company.
  • Angel One Mutual FundPrior approval of shareholders not obtained for re-appointment as an independent Director. Governance concern: The Director has failed in her fiduciary duty towards minority shareholders and safeguarding their interest in another company.
  • Axis Mutual Fund, HDFC Mutual Fund, Sundaram Mutual Fund, Unifi Mutual FundMs. Manju Agarwal, 68, is former Deputy Managing Director (Digital Banking and New Businesses), State Bank of India (SBI). She has been on the board of Polycab India Ltd. since January 2023 and attended all five board meetings held in FY25 and all four board meetings held in FY26 till the date of the notice. We believe shareholder approval for her reappointment should have been sought prior to completion of her first term as an Independent Director. We raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. The Reserve Bank of India, on 31 January 2024, directed PPBL to stop accepting any deposits/ credit transactions/ top ups/ in customer accounts, prepaid instruments, wallets, FASTags, etc. after 29 February 2024 (extended till 15 March 2024) among other restrictions. RBI cited persistent non-compliances and continued material supervisory concerns in the bank as identified in the Comprehensive System Audit and compliance validation report of the external auditors. Given these concerns, we are unable to support the resolution.
  • Bank of India Mutual Fund, DSP Mutual Fund, Jio BlackRock Mutual Fund, Old Bridge Mutual FundMs. Manju Agarwal, 68, is former Deputy Managing Director (Digital Banking and New Businesses), State Bank of India (SBI). She has been on the board of Polycab India Ltd. since January 2023 and attended all five board meetings held in FY25 and all four board meetings held in FY26 till the date of the notice. We believe shareholder approval for her reappointment should have been sought prior to completion of her first term as an Independent Director.We raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. The Reserve Bank of India, on 31 January 2024, directed PPBL to stop accepting any deposits/ credit transactions/ top ups/ in customer accounts, prepaid instruments, wallets, FASTags, etc. after 29 February 2024 (extended till 15 March 2024) among other restrictions. RBI cited persistent non-compliances and continued material supervisory concerns in the bank as identified in the Comprehensive System Audit and compliance validation report of the external auditors. Given these concerns, we are unable to support the resolution.
  • ICICI Prudential Mutual FundWe raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. The Reserve Bank of India, on 31 January 2024, directed PPBL to stop accepting any deposits/ credit transactions/ top ups/ in customer accounts, prepaid instruments, wallets, FASTags, etc. after 29 February 2024 (extended till 15 March 2024) among other restrictions. RBI cited persistent non-compliances and continued material supervisory concerns in the bank as identified in the Comprehensive System Audit and compliance validation report of the external auditors. Director has failed in fiduciary duty in another company. And hence, given these concerns, we are unable to support the resolution.
  • Invesco Mutual FundMs. Manju Agarwal, 68, is former Deputy Managing Director (Digital Banking and New Businesses), State Bank of India (SBI). She has been on the board of Polycab India Ltd. since January 2023 and attended all five board meetings held in FY25 and all four board meetings held in FY26 till the date of the notice. We believe shareholder approval for her reappointment should have been sought prior to completion of her first term as an Independent Director. We raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. The Reserve Bank of India, on 31 January 2024, directed PPBL to stop accepting any deposits/ credit transactions/ top ups/ in customer accounts, prepaid instruments, wallets, FASTags, etc. after 29 February 2024 (extended till 15 March 2024) among other restrictions. RBI cited persistent non-compliances and continued material supervisory concerns in the bank as identified in the Comprehensive System Audit and compliance validation report of the external auditors. Given these concerns, we are unable to support the resolution
  • Kotak Mahindra Mutual FundMs. Manju Agarwal, 68, is former Deputy Managing Director (Digital Banking and New Businesses), State Bank of India (SBI). She has been on the board of Polycab India Ltd. since January 2023 and attended all five board meetings held in FY25 and all four board meetings held in FY26 till the date of the notice. The company is proposing to re-appoint her as an Independent Director. According to re-appointment of IDs on the Board under Section 149(10) of the Companies Act 2013 the resolution should be passed before her last day i.e., 19th January 2026, hence the re-appointment is not in accordance to the law. Hence, we do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance Concern: Prior approval of shareholders not obtained for re-appointment as an ID. Director has failed in fiduciary duty in another company.
  • PPFAS Mutual FundPrior approval of shareholders not obtained for re-appointment as an ID. Director has failed in fiduciary duty in another company
  • The Wealth Company Mutual FundWe vote against -Mrs. Manju Agarwal’s ability to devote sufficient time and attention to the role, given her multiple board commitments and past instances of selective preoccupation.

  14 for26 against
• Change in designation of Mr. Bharat A. Jaisinghani (DIN: 00742995) from ‘Executive Director’ to ‘Joint Managing Director’ w.e.f. January 16, 2026.

  8 for0 against
• Re-appointment of Mr. Bharat A. Jaisinghani (DIN: 00742995) as Whole-time Director for a period of five years with effect from May 13, 2026, to be designated as ‘Joint Managing Director’.

  8 for0 against
• Change in designation of Mr. Nikhil R. Jaisinghani (DIN: 00742771) from ‘Executive Director’ to ‘Joint Managing Director’ w.e.f. January 16, 2026.

  8 for0 against
• Re-appointment of Mr. Nikhil R. Jaisinghani (DIN: 00742771) as Whole-time Director for a period of five years with effect from May 13, 2026, to be designated as ‘Joint Managing Director’.

  8 for0 against

Mutual fund votes, meeting of 1 Jul 2025, 33 fund houses

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

• Adoption of Audited Standalone Financial Statements

  32 for0 against
• Adoption of Audited Consolidated Financial Statements

  32 for0 against
• Declaration of Dividend

  32 for0 against
• Re-appointment of Mr. Gandharv Tongia (DIN:09038711) as Director liable to retire by rotation

  33 for0 against
• Ratification of remuneration payable to R. Nanabhoy & Co., Cost Accountants, as Cost Auditors for the Financial Year ending 31 March 2026

  32 for0 against
• Appointment of BNP & Associates, Company Secretaries (FRN: P2014MH037400), as the Secretarial Auditors of the Company

  32 for0 against

Mutual fund votes, meeting of 6 Mar 2025, 27 fund houses

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

• Approval for appointment of Mr. Vijay Pandey (DIN : 07434880) as Wholetime director to be designated as Executive Director of the Company for a period of three years

  26 for0 against
• Approval for Mr. Sumit Malhotra (DIN:02183825) as an Independent Director of the Company for a period of three years

  27 for0 against
• Approval for incease in commission payable to Independent Directors from the current limit of Rs. 2.50 million per annum to Rs. 3.50 million per annum from FY 2024-25 onwards for a periof of two years

  26 for0 against

Mutual fund votes, meeting of 16 Jul 2024, 26 fund houses

• Adoption of Audited Standalone Financial Statements

  26 for0 against
• Adoption of Audited Consolidated Financial Statements

  26 for0 against
• Declaration of Dividend

  26 for0 against
• Appointment of Mr. Nikhil R. Jaisinghani (DIN: 00742771) as Director liable to retire by rotation

  26 for0 against
• Re-appointment of B S R & Co. LLP Chartered Accountants (FRN: 101248W/-W-100022) as the Statutory Auditors of the Company

  26 for0 against
• Re-appointment of Mr. Inder T. Jaisinghani (DIN:00309108) as Managing Director of the Company

  ›Against Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund, Trust Mutual Fund, Zerodha Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundInder T. Jaisinghani, 71, is Chairperson and Managing Director and part of the promoter family of Polycab India Limited. He has been associated with the company since inception. Inder T. Jaisinghani was paid Rs. 303.5 mn in FY24 out of which 21% was fixed and 79% was variable and linked to company performance. As per his proposed remuneration terms, we estimate his FY25 remuneration at Rs. 362.8 mn, which is high in absolute terms. While a large portion of his remuneration is variable and linked to company profitability, there is no absolute cap on the remuneration: therefore, as profitability increases, remuneration may be much higher over his tenure. The company must cap his remuneration in absolute terms. We expect the company to disclose performance metrics that will be used to determine his commission payout. Further, we note that he is a member of the Nomination and Remuneration Committee (NRC), we expect only non-tenured independent directors to be NRC members.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, PGIM India Mutual Fund, Trust Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing Director, No absolute cap on commission.
  • Edelweiss Mutual FundToo many resolutions bunched up
  • HSBC Mutual FundA vote AGAINST this resolution is warranted due to the following concerns in the executive's remuneration: • The commission element, which forms a major portion of Inder T. Jaisinghani's total pay, does not have an absolute cap, making his remuneration structure open-ended. • There are no disclosures on the performance thresholds and targets that the executive must meet to receive this commission. This may lead to executive rewards not being aligned with the overall shareholder experience. • Inder Jaisinghani, an executive director and promoter of the company, serves as a member of the audit committee and nomination and remuneration committee.
  • ICICI Prudential Mutual FundWhile the Company has capped commission in relative terms with the net profit of the Company, no absolute cap has been provided neither on total remuneration nor on variable pay. Additionally, the remuneration in FY2024 was ₹30.35cr which looks on higher side in absolute terms. Hence, the AMC has voted against the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundNo absolute cap on commission
  • Zerodha Mutual FundCombined position of Chairman and Managing Director, No absolute cap on commission.

  9 for17 against
• Payment of Commission to the Independent Directors of the Company

  ›Against Axis Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundThe aggregate commission will be within the overall limits of 1% of net profits. The proposed commission to independent directors is reasonable and in-line with market practices. However, the company has not defined a tenure for payment of commission and the resolution is effectively valid for perpetuity. We believe shareholders must get a chance to periodically approve such payments and therefore do not support the resolution.
  • Edelweiss Mutual FundToo many resolutions bunched up
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  20 for6 against
• Ratification of remuneration payable to R. Nanabhoy & Co. Cost Accountants, as Cost Auditors for the Financial Year ending 31 March 2025

  26 for0 against

Mutual fund votes, meeting of 30 Jun 2023, 19 fund houses

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

• Adoption of Audited Standalone Financial Statements for the Financial Year ended March 31, 2023

  18 for0 against
• Adoption of Audited Consolidated Financial Statements for the Financial Year ended March 31, 2023

  18 for0 against
• Declaration of Dividend on equity shares for the financial year ended March 31, 2023

  18 for0 against
• APPOINTMENT OF Mr. BHARAT A. JAISINGHANI (DIN:00742995) AS DIRECTOR LIABLE TO RETIRE BY ROTATION

  18 for0 against
• Ratification of remuneration payable to the Cost Auditors for the financial year ending 31 March 2024

  18 for0 against
• REAPPOINTMENT OF Mr. T.P.OSTWAL(DIN: 00821268) FOR A SECOND TERM AS AN INDEPENDENT DIRECTOR OF THE COMPANY

  18 for0 against
• Re-appointment of Mr. R. S. Sharma (DIN: 00013208) for a second term as an Independent Director of the Company

  18 for0 against
• Appointment of Mr. Bhaskar Sharma (DIN:02871367) for a first term as an Independent Director of the Company

  18 for0 against