Power Mech Projects MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 22 Sep 2025, 11 fund houses

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

• Adoption of financial statements

  11 for0 against
• Declaration of dividend on the equity shares

  11 for0 against
• Appointment of Mr. Bontha Prasada Rao (DIN: 01705080) as independent director of the Company

  11 for0 against
• Appointment of Mr. Rohit Sajja (DIN: 02622634) as Director and Whole-Time Director

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance concern: The proposed remuneration does not have an absolute cap on the variable pay or on total remuneration.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of director. Governance concern: The proposed remuneration does not have an absolute cap on the variable pay or on total remuneration.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted in view of the following concerns in the executive's remuneration: Sajja Rohit's remuneration variable pay is open-ended, and the board retains significant discretion in determining his pay outcomes. There are no disclosures on the performance metrics and (threshold and target) performance that Sajja Rohit needs to achieve based on which payouts under variable pay element will be made. His estimated remuneration is aggressively positioned when compared to peers with similar size and scale of business operations.
  • ICICI Prudential Mutual FundRohit Sajja, 35, is the son of Kishore Babu Sajja, Chairperson and Managing Director. His proposed remuneration includes a salary of up to Rs. 24.0 mn per annum. In addition, he is eligible for a commission of 2% of the company’s net profits. The overall remuneration structure is open-ended. The company should consider placing an absolute cap on both the commission. Hence, the AMC has voted against the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  3 for8 against
• Re-appointment of Mr. Sajja Kishore Babu (DIN: 00971313) as Managing Director

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance concern: Holding combined position of Chairman and Managing Director, may lead to concentration of power in the hands of single person. The proposed remuneration does not have an absolute cap on the variable pay or on total remuneration.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of director. Governance concern: Holding combined position of Chairman and Managing Director, may lead to concentration of power in the hands of single person. The proposed remuneration does not have an absolute cap on the variable pay or on total remuneration.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted in view of the following concerns in the executive's remuneration: Sajja Kishore Babu's remuneration variable pay is open-ended, and the board retains significant discretion in determining his pay outcomes. There are no disclosures on the performance metrics and (threshold and target) performance that Sajja Kishore Babu needs to achieve based on which payouts under variable pay element will be made. His estimated remuneration is aggressively positioned when compared to peers with similar size and scale of business operations. The median remuneration is significantly high as compared to other employees of the company.
  • ICICI Prudential Mutual FundKishore Babu Sajja, 62, is founder, promoter and Chairperson and Managing Director. We do not support the resolution because of the proposed remuneration terms. He was paid Rs. 225.1 mn as remuneration in FY25 which was 624.9x times the median employee remuneration, 5.4% of standalone FY25 PBT and 4.6% of consolidated FY25 PBT. The company’s total income and PBT on a consolidated level in FY25 has grown to Rs. 52.8 bn and Rs 4.9 bn from Rs 27.3 bn and Rs 1.8 bn in FY22. The remuneration paid to him has also increased to Rs. 225.1 mn in FY25 from Rs. 53.2 mn in FY22. This is largely due to the commission component of upto 5% of net profits. The existing as well as proposed remuneration terms allow the company to pay Kishore Babu Sajja an annual remuneration of upto 5% of net profits of the company: which is high. The company must cap the total remuneration payable to him in absolute terms and should also disclose performance metrics that will determine the commission payout. Hence, the AMC has voted againts the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  3 for8 against
• Ratification of remuneration payable to Cost Auditors for the financial year 2025-26

  11 for0 against
• Appointment of and remuneration payable to Secretarial Auditors

  2 for0 against
• Related Party Transactions with subsidiaries of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: No clarity with regard to whether prior approval of shareholders for the proposed Related Party Transactions has been sought or not. Basis for Arm’s Length pricing not disclosed for one of the transactions proposed. No disclosure regarding the other shareholders and liability undertaken by them. Omnibus approval sought for more than 1 year.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI Circular: Omnibus approval sought for more than 1 year; Governance and Transparency Concern: No clarity with regard to whether prior approval of shareholders for the proposed RPTs has been sought or not. Basis for Arm’s Length pricing not disclosed for one of the transactions proposed. No disclosure regarding the other shareholders and liability undertaken by them.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  4 for6 against
• Payment of remuneration to Mr. M. Rajiv Kumar (DIN: 07336483), Non-Executive Director by way of consultancy fees

  11 for0 against

Mutual fund votes, meeting of 27 Sep 2024, 10 fund houses

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

• Adoption of financial statements

  ›Against Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified opinion financial statements. Compliant with Indian Accounting Standards. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: Non-disclosure of financial statements of Subsidiary Companies for FY 2023-24 on the Company’s Website.

  8 for2 against
• Declaration of dividend on the equity shares

  10 for0 against
• Re-appointment of a director who are retiring at the AGM

  ›Against Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Groww Mutual FundRe-appointment compliant with law. Governance Concern: Dissatisfactory attendance in AC meetings.
  • Motilal Oswal Mutual Fund"Re-appointment compliant with law. Governance Concern: Dissatisfactory attendance in AC meetings. "

  4 for2 against
• Appointment of statutory auditors for a term of five years

  ›Against Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund

  • Bandhan Mutual FundBrahmayya & Co. will replace K.S. Rao & Co, who will complete their first term of five years at the 2024 AGM. As per Regulation 36(5) of SEBI’s LODR 2015, companies are mandated to disclose the terms of appointment/re appointment of auditors, including the remuneration payable to them. As per the notice, the remuneration payable shall be determined mutually by the board and the auditors. We believe that the company should have disclosed a range of expected remuneration to be paid and a detailed profile of the auditors to enable shareholders to make an informed decision. Further, the proposed statutory auditors have been long-standing auditors of Power Mech Projects Limited: Brahmayya & Co LLP have been auditors of Power Mech Projects Limited or its subsidiaries for an aggregate of more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with the company. Therefore, we do not support their appointment
  • DSP Mutual FundBrahmayya & Co. will replace K.S. Rao & Co, who will complete their first term of five years at the 2024 AGM. As per Regulation 36(5) of SEBI’s LODR 2015, companies are mandated to disclose the terms of appointment/re appointment of auditors, including the remuneration payable to them. As per the notice, the remuneration payable shall be determined mutually by the board and the auditors. We believe that the company should have disclosed a range of expected remuneration to be paid and a detailed profile of the auditors to enable shareholders to make an informed decision. Further, the proposed statutory auditors have been long-standing auditors of Power Mech Projects Limited: Brahmayya & Co LLP have been auditors of Power Mech Projects Limited or its subsidiaries for an aggregate of more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with the company. Therefore, we do not support their appointment.
  • Edelweiss Mutual FundProposed audit fee payable to Statutory Auditors and Auditor Credentials not disclosed. Cannot be ascertained whether there is any material change between the fees paid to the proposed auditors and the outgoing auditors.
  • Groww Mutual Fund, Motilal Oswal Mutual FundNo issues on merit of the proposed Statutory Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed audit fee payable to Statutory Auditors and Auditor Credentials not disclosed. Cannot be ascertained whether there is any material change between the fees paid to the proposed auditors and the outgoing auditors.
  • HDFC Mutual FundThe audiors have been auditing the subsidaries for more than 10 years, thus having a long association with the group.

  2 for6 against
• Ratification of remuneration payable to Cost Auditors for the financial year 2024-25

  10 for0 against
• Payment of remuneration to Mr. M. Rajiv Kumar (DIN: 07336483), Non-Executive Director by way of consultancy fees

  ›Against Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Edelweiss Mutual FundDissatisfactory attendance in AC meetings.
  • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Dissatisfactory attendance in AC meetings.

  7 for3 against
• Revision in remuneration payable to Mr. Rohit Sajja, President of the Company

  ›Against Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund

  • Bandhan Mutual Fund, DSP Mutual FundRohit Sajja is the son of Sajja Kishore Babu, Chairperson and Managing Director. He is currently serving as President (Business Development) of the company. He has an MBA from the University of Oxford, a Master’s in Engineering Management from the University of Southern California and a B.Tech in Mechanical Engineering from Vellore Institute of Technology. He was paid a remuneration of Rs 3.6 mn in FY23 and Rs. 3.0 mn in FY24. We estimate his FY25 remuneration at Rs. 14.4 mn. His proposed maximum remuneration is ~4x his current remuneration. Further, his maximum proposed remuneration is higher than that of CFO, N Nani Aravind who has twenty-two years of experience. It is unclear if the company has benchmarked his proposed remuneration with comparable peers within and outside the company. Hence, we do not support the resolution.
  • Edelweiss Mutual FundPrior approval of shareholders not sought. Inadequate explanation on significant shift. Disproportionate remuneration.
  • Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with Section 188 of Companies Act, 2013: Prior approval of shareholders not sought. Governance & Transparency concern: Inadequate explanation on significant shift. Disproportionate remuneration.

  4 for6 against
• Borrowing Powers and Creation of Security

  ›Against Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Edelweiss Mutual FundMore than 90% of the borrowing limit is unutilized and no compelling justification. Inadequate explanation as to how will the Company sustain the increased borrowing limits which is higher than the asset size and net worth of the Company.
  • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: More than 90% of the borrowing limit is unutilized and no compelling justification. Inadequate explanation as to how will the Company sustain the increased borrowing limits which is higher than the asset size and net worth of the Company.

  7 for3 against
• Related Party Transactions with identified subsidiaries of the Company/Joint Ventures and/ or their subsidiaries

  ›Against Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund

  • Bandhan Mutual Fund, DSP Mutual FundKTMPL and KBP are 74% subsidiaries of the company. The remaining shareholding is held by PC Patel Infra Private Limited and AMR India Limited, respectively. The proposed transactions pertain to extension of civil contracting works, inter corporate loans and others. PMPL-BRCCPL JV is a Joint Venture between the company and Bhooratnam Construction Company Private Limited (BCCPL), in which PMPL holds 70% stake. The proposed transactions include civil contracting works, inter corporate loans and other transactions. We raise concerns on transactions being all encompassing, including extending loans. The company must provide granular details of individual transactions and in the case of financial support, terms of interest, tenure etc have to be disclosed. Also, it is unclear if financial support in the form of loans to the entities will be to the extent of PMPL’s shareholding in these entities. Further, the company has sought an enabling approval for transactions with entities that may be incorporated in future (till the 2025 AGM). We do not support such enabling nature of transactions with entities that may come into existence in the future. Companies must seek shareholder approval only after these companies are incorporated and disclose the ownership of these entities and the nature and value of transactions. Also, the company has not disclosed details as required under the SEBI prescribed format. The company should have sought approval for these transactions separately rather than clubbing them under a single resolution.
  • Edelweiss Mutual FundNo clarity with regard to whether prior approval of shareholders for the proposed RPTs has been sought or not. Inadequate justification as to what are the obligations undertaken by the other shareholders of the concerned related parties.
  • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance & Transparency Concern: No clarity with regard to whether prior approval of shareholders for the proposed RPTs has been sought or not. Inadequate Disclosures. Inadequate justification as to what are the obligations undertaken by the other shareholders of the concerned related parties.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted given the company has not provided information on the specific joint ventures, associates or subsidiaries with which the proposed transactions will be undertaken.

  4 for6 against
• Increase of Authorized Share Capital of the Company and amendment in the Capital Clause in the Memorandum of Association of the Company.

  10 for0 against
• Issue of Bonus shares

  10 for0 against

Mutual fund votes, meeting of 28 Sep 2023, 4 fund houses

• To consider and adopt the audited financial statements of the Company for the financial year ended 31st March, 2023 together with the reports of the Board of Directors and auditors thereon.

  ›Against Motilal Oswal Mutual Fund

  • Motilal Oswal Mutual FundUnqualified opinion financial statements. Compliant with Indian Accounting Standards. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: Non-disclosure of financial statements of Subsidiary for FY 2022-23 on website.

  3 for1 against
• To declare a final dividend of Rs.2.00/- per equity share of Rs.10/- each for the financial year ended 31st March, 2023.

  4 for0 against
• Appointment of Mrs.Lakshmi Sajja (DIN:00068991) as Director liable to retire by rotation

  4 for0 against
• Ratification of Remuneration Payable to Cost Auditors for the FY 2023-24.

  4 for0 against
• Ratification of Remuneration Payable to Cost Auditors for the FY 2022-23.

  4 for0 against
• To appoint Mr. Jayarama Prasad Chalasani (DIN: 00308931) as an Independent Director.

  ›Against Motilal Oswal Mutual Fund

  • Motilal Oswal Mutual FundNon- Compliance: Approval for resolution sought by way of Ordinary resolution, instead of special resolution; No concern on the merit of proposed appointee.

  3 for1 against
• To approve the payment of remuneration to Mr. M. Rajiv Kumar (DIN: 7336483), Non-Executive Director by way of consultancy fees.

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundNon-executive directors participate in performance-based incentive schemes.

  3 for1 against
• Alteration of Articles of Association of the Company.

  4 for0 against
• To Approve Raising of Funds in one or more Tranches, by Issuance of Equity Shares and/or other Eligible Securities.

  4 for0 against

Mutual fund votes, meeting of 30 Jun 2023, 2 fund houses

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

• REVISION IN OVERALL BORROWING POWERS OF THE COMPANY

  2 for0 against
• Creation of Charge/Mortgage on the assets of the Company

  2 for0 against

Mutual fund votes, meeting of 30 Sep 2022, 1 fund house

• Approval for offering an option of conversion of unsecured loan/ Inter corporate deposit into equity.

  1 for0 against
• Approval of Material Related Party Transaction (s) with PMPL-BRCCPL JV for an aggregate value not exceeding Rs.2500 Cr.

  1 for0 against
• Issue of 1,95,593 equity shares face value of Rs.10/- each at a premium of Rs.1,268.16/ to the promoters by way of conversion of proposed allottee’s Unsecured Loan (USL) / Inter-corporate Deposit (ICD) to the extent of Rs.24,99,99,149/- which was obtained by the Company for supporting the day to-day operations and to meet immediate working capital needs.MoreLess

  1 for0 against
• Remuneration payable to M/s. K.S. Rao & Co., Chartered Accountants (Firm Registration No: 003109S) Statutory Auditors of the Company, be and is hereby increased to Rs.15,00,000/- per annum excluding out of pocket expenses.MoreLess

  1 for0 against
• To appoint a Director in place of Mr. M. Rajiv Kumar (DIN: 07336483) who retires by rotation and, being eligible, seeks re-appointment.

  1 for0 against
• To approve the payment of remuneration of Rs.3,80,000/- per month excluding GST and reimbursement of out of pocket expenses towards car maintenance, driver etc to Mr. M. Rajiv Kumar (DIN: 07336483) , Non-Executive Director by way of consultancy fees for the FY 2022-23.MoreLess

  1 for0 against
• To consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended 31st March, 2022 together with the reports of the Board of Directors and auditors thereon.MoreLess

  1 for0 against
• To declare a final dividend of Rs.1.50/- per equity share of Rs.10/- each for the financial year ended 31st March, 2022.

  1 for0 against

Mutual fund votes, meeting of 30 Sep 2021, 1 fund house

• Adoption of Financial Statements

  1 for0 against
• Aappointment of Mrs.Lakshmi Sajja (DIN:00068991) as Director liable to retire by roration

  1 for0 against
• Re-appointment of Mr.S.Kishore Babu as the Managing Director

  1 for0 against
• Re-appointment of Mr.Vivek Paranjpe (DIN:03378566) as an Independent Director

  1 for0 against
• To approve the payment of remuneration to Mr.M.Rajiv Kumar (DIN:07336483) Non-Executive Director by way of consultancy fees

  1 for0 against
• Re-appointment of MS.Lasya Yerramneni (DIN:03150397) as an Independent Director

  1 for0 against
• Approval of Material Related Party Transaction(s) with PMPL-BRCCPL JV

  1 for0 against
• Approval of Material Related Party Transaction(s) with PMPL-SRC Infra JV- Mizoram

  1 for0 against
• Approval of Material Related Party Transaction(s) with PMPL- SRC Infra JV- Hassan

  1 for0 against