Privi Speciality Chemicals MD, chairman, board of directors and AGM
NSE: PRIVISCLBSE: 530117Chemicals & PetrochemicalsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹3,330.60.
- Next results date: the board meets on 29 Oct 2026 to consider: financial results and dividend.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹12,696 Cr505th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- Earlier quarters restated in the year
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 11 May 2026
- 9.0
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.31%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 30 Jul 2026
- 21.3%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 11 May 2026
- 0.70
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 82,71163.6% delivered
Privi Speciality Chemicals 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 directorMahesh P Babani
- Company Secretary and Compliance OfficerAshwini Saumil Shah
6 directors4 independent2 executive
- Mahesh P Babani · Chairperson and managing directorExecutive · joined May 2017 · reappointed May 2017 · 1 listed board
- Doppalapudi Bhaktavatsala RaoExecutive · joined May 2017 · reappointed Aug 2026 · 1 listed board · 1 committee seat
- Anurag SuranaIndependent · joined Aug 2020 · reappointed Apr 2024 · 73 months as independent · 4 listed boards · 3 as independent · 5 committee seats
- Hemang Manhar GandhiIndependent · joined Nov 2023 · reappointed Nov 2023 · 34 months as independent · 1 listed board · 1 as independent · 3 committee seats, 1 as chair
- Naresh Madhu TejwaniIndependent · joined Oct 2024 · reappointed Oct 2024 · 23 months as independent · 1 listed board · 2 as independent · 2 committee seats, 1 as chair
- Priyamvada Ashesh BhumkarIndependent · joined Oct 2024 · reappointed Oct 2024 · 23 months as independent · 1 listed board · 1 as independent · 2 committee seats
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.
2 directors who left
- Dwarko Topandas Khilnani, left 31 Mar 2025: Others
- Anuradha Thakur, left 31 Mar 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 30 Jul 20265 of 6 present3 independent · 79 days in between
- 11 May 20266 of 6 present4 independent
Audit Committee
Chair Naresh Madhu Tejwani
Anurag Surana, Hemang Manhar Gandhi, Priyamvada Ashesh Bhumkar
- 30 Jul 20263 of 4 present3 independent · 79 days in between
- 11 May 20264 of 4 present4 independent
Nomination and remuneration committee
Chair Naresh Madhu Tejwani
Anurag Surana, Hemang Manhar Gandhi
- 11 May 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair Hemang Manhar Gandhi
Naresh Madhu Tejwani, Doppalapudi Bhaktavatsala Rao, Priyamvada Ashesh Bhumkar
No meeting listed in the filing.
Risk Management Committee
Chair Anurag Surana
Doppalapudi Bhaktavatsala Rao, Mahesh P Babani, Hemang Manhar Gandhi, Priyamvada Ashesh Bhumkar, Naresh Madhu Tejwani
- 30 Jul 20265 of 6 present3 independent · 79 days in between
Corporate Social Responsibility Committee
Chair Anurag Surana
Naresh Madhu Tejwani, Doppalapudi Bhaktavatsala Rao, Priyamvada Ashesh Bhumkar
- 11 May 20264 of 4 present3 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 B S R & Co, LLPPeer-review certificate valid to Jul 2028
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.
Privi Speciality Chemicals 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.Privi Speciality Chemicals dividend history
Annual general meeting, 7 Aug 2026
51,600 shareholders on the register on 31 Jul 2026; present: 16 promoters and 45 others; votes counted by Himanshu S Kamdar / Rathi & Associates, Company Secretaries.The company's voting result (opens in a new tab)
1 - To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026, along with the Directors’ Report and Auditors’ Report thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 79.79% · promoters 100.00% · institutions 85.92% · other public 32.58%
- 2 - To declare a final dividend of H 10/- (100%) per equity share of face value of H 10/- each for the financial year ended on March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 79.79% · promoters 100.00% · institutions 85.92% · other public 32.58%
- 3 - To appoint a Director in place of Mr. Mahesh Purshottam Babani (DIN: 00051162), who retires by rotation and being eligible, offers himself for re-appointment.OrdinaryPromoters have an interest in it99.64% for0.36% against
Against: promoters 0.00% · institutions 2.75% · other public 0.02%
Turnout: all 79.79% · promoters 100.00% · institutions 85.92% · other public 32.58%
- 4 - To ratify the remuneration payable to Cost Auditors for the financial year ending on March 31, 2027.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 79.79% · promoters 100.00% · institutions 85.92% · other public 32.58%
5 - To approve the re-appointment of Mr. Bhaktavatsala Rao Doppalapudi (DIN: 00356218) as an Executive (Whole time) Director of the Company for the period of 3 (Three) consecutive years commencing w.e.f. August 13, 2026.MoreLess
SpecialPromoters have an interest in it99.99% for0.01% againstAgainst: promoters 0.00% · institutions 0.07% · other public 0.02%
Turnout: all 79.79% · promoters 100.00% · institutions 85.92% · other public 32.58%
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, 1 Aug 2025, 6 resolutions
30,616 shareholders on the register on 25 Jul 2025; present: 15 promoters and 35 others; votes counted by Himanshu Kamdar / M/s Rathi & Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial year ended March 31, 2025, along with the Directors’ Report and Auditors’ Report thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 82.92% · promoters 100.00% · institutions 65.87% · other public 37.66%
- To declare a final dividend of Rs. 5.00/- (50%) per equity share of face value of Rs. 10/- each for the financial year ended on March 31, 2025Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 82.92% · promoters 100.00% · institutions 65.87% · other public 37.66%
- To appoint a director in place of Mr. Bhaktavatsala Doppalapudi Rao (DIN 00356218), who retires by rotation and being eligible, offers himself for re appointment.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 82.92% · promoters 100.00% · institutions 65.87% · other public 37.66%
- Re-appointment of M/s BSR & Co. LLP, Chartered Accountants as Statutory Auditors of the Company for the 2nd term of five consecutive years.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 82.92% · promoters 100.00% · institutions 65.87% · other public 37.66%
- Appointment of M/s Rathi & Associates, Company Secretaries as Secretarial Auditors of the Company for 1st term of five consecutive years and to fix their remunerationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 82.92% · promoters 100.00% · institutions 65.87% · other public 37.66%
- Ratification of Cost Auditor’s remuneration for the financial year ending March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 82.92% · promoters 100.00% · institutions 65.87% · other public 37.66%
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, 9 Jan 2025, 5 resolutions
19,219 shareholders on the register on 6 Dec 2024; votes counted by Himanshu Kamdar / M/s Rathi & Associates.The company's voting result (opens in a new tab)
- Appointment of Mr. Naresh Tejwani (DIN:00847424) as an Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 87.00% · promoters 100.00% · institutions 67.55% · other public 47.90%
- Appointment of Mrs. Priyamvada Bhumkar (DIN: 00726138) as an Independent DirectorSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 87.00% · promoters 100.00% · institutions 67.55% · other public 47.90%
- Approval of the Privi Employee Stock Option Scheme 2024Special99.87% for0.13% against
Against: promoters 0.00% · institutions 6.36% · other public 0.00%
Turnout: all 87.00% · promoters 100.00% · institutions 67.55% · other public 47.90%
To Approve grant of Employee Stock Options to the employees of group company(ies) including subsidiary company(ies) or associate company(ies) of the Company under 'Privi Employee Stock Option Scheme 2024'MoreLess
Special99.87% for0.13% againstAgainst: promoters 0.00% · institutions 6.36% · other public 0.00%
Turnout: all 87.00% · promoters 100.00% · institutions 67.55% · other public 47.90%
- Provision of money by the Company for subscription of its own shares by the trust under the "Privi Employee Stock Option Scheme 2024"Special99.87% for0.13% against
Against: promoters 0.00% · institutions 6.36% · other public 0.00%
Turnout: all 87.00% · promoters 100.00% · institutions 67.55% · other public 47.90%
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, 12 Aug 2024, 5 resolutions
The company's voting result (opens in a new tab)
- Borrowing Powers pursuant to Section 180(1) (c) of Companies Act, 2013Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 85.97% · promoters 100.00% · institutions 81.14% · other public 40.73%
- Creation of Charge/ Security on the Assets of the Company pursuant to Section 180(1) (a) of the Companies Act, 2013Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 85.97% · promoters 100.00% · institutions 81.14% · other public 40.73%
- Limits for giving Loan(s), Guarantee(s), to provide scurities or to make Investment(s) pursuant to Section 186 of the Companies Act, 2013Special96.85% for3.15% against
Against: promoters 0.00% · institutions 99.93% · other public 0.00%
Turnout: all 85.97% · promoters 100.00% · institutions 81.14% · other public 40.73%
To create, offer, issue and allot (including with provisions for reservations on firm and/ or competitive basis, or such part of issue and for such categories of persons as may be permitted) such number of equity shares, convertible preference shares, and/ or bonds including foreign currency convertible bonds/ debentures/ non-convertible debt instruments along with warrants/ convertible debentures/ securities and/ or any other equity based instrument(s), (“Securities”) inter alia, through a private placement, one or more qualified institutions placement (“QIP”) and / or further public issue of equity and/or rights issue and/or through any other permissible mode, by way of an offer document/prospectus or such other document, in India or abroadMoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 85.97% · promoters 100.00% · institutions 81.14% · other public 40.73%
- To approve investment in the Equity Shares of Privi Fine Sciences Private Limited (PFSPL)material Related Party TransactionSpecialPromoters have an interest in it77.26% for22.74% against
Against: promoters 0.00% · institutions 99.93% · other public 0.01%
Turnout: all 11.92% · promoters 0.00% · institutions 81.14% · other public 40.73%
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, 1 Aug 2024, 5 resolutions
Present: 24 promoters and 50 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2024 along with the Director's report and Auditors report thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.87% · promoters 100.00% · institutions 78.17% · other public 36.44%
- To declare a final dividend of Rs. 2.00/- (20%) per equity share of face value of Rs. 10/- each for the financial year ended on March 31, 2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.87% · promoters 100.00% · institutions 78.17% · other public 36.44%
- To appoint a director in place of Mr. Mahesh P. Babani (DIN: 00051162), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.87% · promoters 100.00% · institutions 78.17% · other public 36.44%
- Ratification of cost auditor's remuneration for the financial year ending March 31, 2025Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 84.87% · promoters 100.00% · institutions 78.17% · other public 36.44%
- Re-appointment of Mr. Mahesh P. Babani (DIN: 00051162) as a Chairman and Managing Director of the Company for the period of five years commencing w.e.f. April 01, 2025SpecialPromoters have an interest in it99.89% for0.11% against
Against: promoters 0.00% · institutions 3.61% · other public 0.00%
Turnout: all 84.87% · promoters 100.00% · institutions 78.17% · other public 36.44%
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, 21 Dec 2023, 1 resolution
The company's voting result (opens in a new tab)
- Appointment of Mr. Hemang Gandhi (DIN:00008770) as an Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 86.29% · promoters 100.00% · institutions 85.77% · other public 39.44%
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, 10 Aug 2023, 6 resolutions
Present: 32 promoters and 56 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial year ended March 31, 2023, along with the Directors’ Report and Auditors’ Report thereon.MoreLess
Ordinary99.99% for0.01% againstAgainst: promoters 0.00% · institutions 0.25% · other public 0.03%
Turnout: all 86.01% · promoters 100.00% · institutions 83.92% · other public 38.11%
- To appoint a Director in place of Mr. Bhaktavatsala Doppalapudi Rao (DIN 00356218), who retires by rotation and being eligible, offers himself for re-appointment.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 86.01% · promoters 100.00% · institutions 83.92% · other public 38.11%
- Ratification of Cost Auditor’s remuneration for the financial year ending March 31, 2024.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 86.01% · promoters 100.00% · institutions 83.92% · other public 38.11%
- Re-appointment of Mr. Bhaktavatsala Rao Doppalapudi (DIN: 00356218) as an Executive Director of the Company for the period of three years commencing w.e.f. August 13, 2023.SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 86.01% · promoters 100.00% · institutions 83.92% · other public 38.11%
- Re-appointment of Mr. Dwarko Topandas Khilnani (DIN: 01824655) as an Independent Director for the period of five years for the second consecutive term w.e.f. April 01, 2024.Special98.96% for1.04% against
Against: promoters 0.00% · institutions 23.53% · other public 0.04%
Turnout: all 86.01% · promoters 100.00% · institutions 83.92% · other public 38.11%
- Re-appointment of Mr. Anurag Surana (DIN: 00006665) as an Independent Director for the period of five years for the second consecutive term w.e.f. April 01, 2024.Special98.84% for1.16% against
Against: promoters 0.00% · institutions 26.19% · other public 0.04%
Turnout: all 86.01% · promoters 100.00% · institutions 83.92% · other public 38.11%
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, 28 Sep 2022, 5 resolutions
Present: 17 promoters and 53 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalonenand Consolidated Financial Statements of the Companynfor Financial year ended March 31, 2022, along with the Directors’ Report and Auditors’ Report thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.49% · promoters 99.95% · institutions 84.59% · other public 36.66%
- To declare Final Dividend of Rs. 2 (20%) per equity sharenof face value of Rs. 10 each for the financial year ended on March 31, 2022.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.49% · promoters 99.95% · institutions 84.59% · other public 36.66%
- To appoint a Director in place of Mr. Mahesh P Babani (DINn00051162), who retires by rotation and being eligible, offersnhimself for re-appointment.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.49% · promoters 99.95% · institutions 84.59% · other public 36.66%
- Ratification of Cost Auditor’s remuneration for the financialnyear ending March 31, 2023.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.22% · other public 0.03%
Turnout: all 85.49% · promoters 99.95% · institutions 84.59% · other public 36.66%
- Continuation of Mr. Padmanabh Ramchandra Barpanden(DIN:00016214) as Non-Executive Independent Director ofnthe Company, post attaining the age of 75 years.Special99.97% for0.03% against
Against: promoters 0.00% · institutions 0.55% · other public 0.04%
Turnout: all 85.49% · promoters 99.95% · institutions 84.59% · other public 36.66%
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 7 Aug 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)
1 - To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026, along with the Directors’ Report and Auditors’ Report thereon.MoreLess
2 for0 against- 2 - To declare a final dividend of H 10/- (100%) per equity share of face value of H 10/- each for the financial year ended on March 31, 2026.2 for0 against
- 3 - To appoint a Director in place of Mr. Mahesh Purshottam Babani (DIN: 00051162), who retires by rotation and being eligible, offers himself for re-appointment.
Against Angel One Mutual Fund
- Angel One Mutual FundTransparency Concern: Lack of clarity regarding the full-time positions held.
1 for1 against - 4 - To ratify the remuneration payable to Cost Auditors for the financial year ending on March 31, 2027.2 for0 against
5 - To approve the re-appointment of Mr. Bhaktavatsala Rao Doppalapudi (DIN: 00356218) as an Executive (Whole time) Director of the Company for the period of 3 (Three) consecutive years commencing w.e.f. August 13, 2026.MoreLess
2 for0 against
Mutual fund votes, meeting of 1 Aug 2025, 3 fund houses
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial year ended March 31, 2025, along with the Directors’ Report and Auditors’ Report thereonMoreLess
3 for0 against- To declare a final dividend of Rs. 5.00/- (50%) per equity share of face value of Rs. 10/- each for the financial year ended on March 31, 20253 for0 against
- To appoint a director in place of Mr. Bhaktavatsala Doppalapudi Rao (DIN 00356218), who retires by rotation and being eligible, offers himself for re appointment.3 for0 against
- Re-appointment of M/s BSR & Co. LLP, Chartered Accountants as Statutory Auditors of the Company for the 2nd term of five consecutive years.3 for0 against
- Appointment of M/s Rathi & Associates, Company Secretaries as Secretarial Auditors of the Company for 1st term of five consecutive years and to fix their remuneration3 for0 against
- Ratification of Cost Auditor’s remuneration for the financial year ending March 31, 2026.3 for0 against
6 earlier meetings
Mutual fund votes, meeting of 9 Jan 2025, 1 fund house
- Appointment of Mr. Naresh Tejwani (DIN:00847424) as an Independent Director of the Company1 for0 against
- Appointment of Mrs. Priyamvada Bhumkar (DIN: 00726138) as an Independent Director1 for0 against
- Approval of the Privi Employee Stock Option Scheme 20241 for0 against
To Approve grant of Employee Stock Options to the employees of group company(ies) including subsidiary company(ies) or associate company(ies) of the Company under 'Privi Employee Stock Option Scheme 2024'MoreLess
1 for0 against- Provision of money by the Company for subscription of its own shares by the trust under the "Privi Employee Stock Option Scheme 2024"1 for0 against
Mutual fund votes, meeting of 12 Aug 2024, 2 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Limits for giving Loan(s), Guarantee(s), to provide scurities or to make Investment(s) pursuant to Section 186 of the Companies Act, 2013
Against Axis Mutual Fund
- Axis Mutual FundAs on 31 March 2024, the company made investments/ guarantees of ~ Rs. 0.9 bn and thus has a sizeable headroom under the existing limit of Rs. 8.8 bn prescribed under regulations. The company proposes to increase the limit to Rs. 15.0 bn or automatic limit whichever is higher. The company plans to invest ~Rs. 3.0 bn in the promoter-controlled entity: Privi Fine Sciences Private Limited - the rationale for seeking a limit of Rs. 15.0 bn is unclear. In absence of any clarity on the utilisation of the proposed increased limit, we are unable to support the resolution more so given the existing headroom under the automatic limit. The company must provide granular clarity with respect to the recipient entities, the relationship with those entities and the strategic rationale for supporting them.
0 for1 against To create, offer, issue and allot (including with provisions for reservations on firm and/ or competitive basis, or such part of issue and for such categories of persons as may be permitted) such number of equity shares, convertible preference shares, and/ or bonds including foreign currency convertible bonds/ debentures/ non-convertible debt instruments along with warrants/ convertible debentures/ securities and/ or any other equity based instrument(s), (“Securities”) inter alia, through a private placement, one or more qualified institutions placement (“QIP”) and / or further public issue of equity and/or rights issue and/or through any other permissible mode, by way of an offer document/prospectus or such other document, in India or abroadMoreLess
1 for0 against- To approve investment in the Equity Shares of Privi Fine Sciences Private Limited (PFSPL)material Related Party Transaction
Against Axis Mutual Fund, SBI Mutual Fund
- Axis Mutual Fund, SBI Mutual FundThe company proposes to acquire 50.95% equity in PFSPL for an aggregate consideration of Rs. 2,980 mn. The investment will be in the form of subscription of new shares/ secondary acquisition. As per a recent investor call, the company expects revenue of ~Rs. 1.09 bn from unit 1 in FY25. The company should have disclosed the valuation report on the website. Since PFSPL’s unit has just become operational, we are unable to comment on the fairness of the valuation. Further, the rationale for acquiring a promoter-controlled entity at a very nascent growth stage without any sizeable revenue and profitability trajectory, is unclear. We are unable to support the resolution.
0 for2 against
6 proposals not matched to one resolution
- 1) Approve increase in borrowing limit to Rs. 15.0 bn or limits under Section 180(1)(c) of the Companies Act, 2013, whichever is higher.1 for0 against
- 2) Approve creation of charge on assets upto Rs. 15.0 bn or limits under Section 180(1)(c) of the Companies Act, 2013, whichever is higher.1 for0 against
- 3) Approve loans, guarantees and investments under Section 186 of Companies Act, 2013 up to Rs 15.0 bn or limit prescribed under regulations, whichever is higher.
Against SBI Mutual Fund
- SBI Mutual FundAs on 31 March 2024, the company made investments/ guarantees of ~ Rs. 0.9 bn and thus has a sizeable headroom under the existing limit of Rs. 8.8 bn prescribed under regulations. The company proposes to increase the limit to Rs. 15.0 bn or automatic limit whichever is higher. The company plans to invest ~Rs. 3.0 bn in the promoter-controlled entity: Privi Fine Sciences Private Limited - the rationale for seeking a limit of Rs. 15.0 bn is unclear. In absence of any clarity on the utilisation of the proposed increased limit, we are unable to support the resolution more so given the existing headroom under the automatic limit. The company must provide granular clarity with respect to the recipient entities, the relationship with those entities and the strategic rationale for supporting them.
0 for1 against - 4) Approve issuance of equity or debt securities up to Rs. 10.0 bn.1 for0 against
To borrow for the purpose of business of the Company, such sum(s) of money (in foreign currency or Indian rupee) from time to time with or without security on such terms and conditions as the Board may think fit, notwithstanding that the moneys to be borrowed, together with the moneys already borrowed by the Company and remaining outstanding at any time, if any, (apart from the temporary loans obtained from the Company’s Bankers in the ordinary course of business) exceed the aggregate of the paid-up share capital of the Company and its free reserves, that is to say, reserves not set aside for any specific purpose, provided that the total amount so borrowed by the Board and outstanding shall not exceed Rs. 1500,00,00,000/- or the aggregate of paid-up share capital of the Company and its free reserves, for the time being, whichever is higher.MoreLess
1 for0 againstTo mortgage and/ or charging of all the immovable and/ or movable properties of the Company, wheresoever situated, both present and future and/ or whole or substantially the whole of the undertaking(s) of the Company in favour of any of the public or private financial institutions, investment institutions and their subsidiaries, Public Sector Banks, Private Sector Banks, Mutual Funds, any other companies or bodies corporate and any other lenders (hereinafter referred to as lending agencies) and/ or Trustees for the holders of debentures/ bonds/ other instruments which may be issued, on pari-passu basis or otherwise not exceeding Rs. 1500,00,00,000/- or the aggregate of paid-up share capital of the Company.MoreLess
1 for0 against
Mutual fund votes, meeting of 1 Aug 2024, 2 fund houses
To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2024 along with the Director's report and Auditors report thereon.MoreLess
2 for0 against- To declare a final dividend of Rs. 2.00/- (20%) per equity share of face value of Rs. 10/- each for the financial year ended on March 31, 20242 for0 against
- To appoint a director in place of Mr. Mahesh P. Babani (DIN: 00051162), who retires by rotation and being eligible, offers himself for re-appointment2 for0 against
- Ratification of cost auditor's remuneration for the financial year ending March 31, 20252 for0 against
- Re-appointment of Mr. Mahesh P. Babani (DIN: 00051162) as a Chairman and Managing Director of the Company for the period of five years commencing w.e.f. April 01, 2025
Against Axis Mutual Fund
- Axis Mutual FundMahesh P Babani, 66, is part of Promoter group and Chairperson & Managing Director of Privi Speciality Chemicals Limited. He has been on the board since 11 May 2017. He is involved in formulation of long-term strategy, business development and financial management of the Company. He was reappointed as Managing Director for three years in 2021 AGM. Mahesh P Babani received Rs. 48.0 mn in FY24 which was 62.6 times the median employee remuneration, 6.6% of employee benefit cost and 3.7% of consolidated PBT. We estimate his FY25 remuneration to be Rs. 72.0 mn which is entirely fixed in nature. We believe, at Rs. 72.0 mn, without any element of variable pay, his remuneration is high as compared to the size of the company and is not in line with peers. His remuneration terms also include medical reimbursement for self and family, without a monetary cap – which we do not support. Hence, we are unable to support the resolution.
1 for1 against
Mutual fund votes, meeting of 21 Dec 2023, 6 fund houses
- Appointment of Mr. Hemang Gandhi (DIN:00008770) as an Independent Director of the Company6 for0 against
Mutual fund votes, meeting of 10 Aug 2023, 5 fund houses
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial year ended March 31, 2023, along with the Directors’ Report and Auditors’ Report thereon.MoreLess
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundUnqualified Financial Statements. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: Non-disclosure of financial statements of Subsidiaries for FY 2022-23 on website.
4 for1 against- To appoint a Director in place of Mr. Bhaktavatsala Doppalapudi Rao (DIN 00356218), who retires by rotation and being eligible, offers himself for re-appointment.5 for0 against
- Ratification of Cost Auditor’s remuneration for the financial year ending March 31, 2024.5 for0 against
- Re-appointment of Mr. Bhaktavatsala Rao Doppalapudi (DIN: 00356218) as an Executive Director of the Company for the period of three years commencing w.e.f. August 13, 2023.5 for0 against
- Re-appointment of Mr. Dwarko Topandas Khilnani (DIN: 01824655) as an Independent Director for the period of five years for the second consecutive term w.e.f. April 01, 2024.
Against Axis Mutual Fund, Motilal Oswal Mutual Fund
- Axis Mutual FundDwarko Topandas Khilnani, 80, is Forex Advisor to Exactus.Com (provides legal process outsourcing services) and is former member of foreign exchange department of RBI. He has been on the board of this company since 13 August 2020. We note that since 12 September 2014, he served on the board of Privi Organics Limited, an erstwhile subsidiary which was subsequently amalgamated into the company. His overall tenure with the group will exceed ten years in September 2024 (within six months from the proposed reappointment) and thus, we do not support his reappointment as Independent Director given the extended association.
- Motilal Oswal Mutual FundRe-appointment compliant with law Governance concern: Proposed term will result in prolonged association.
3 for2 against - Re-appointment of Mr. Anurag Surana (DIN: 00006665) as an Independent Director for the period of five years for the second consecutive term w.e.f. April 01, 2024.
Against Axis Mutual Fund, Motilal Oswal Mutual Fund
- Axis Mutual FundAnurag Surana, 58, is Managing Director at Kagashin Global Network Private Limited, a company involved in consulting in the chemical sector, and former Executive Director of PI Industries. He has been on the board of this company since 13 August 2020. We note that he served on the board of subsidiaries (presently amalgamated): Privi Organics Limited from 16 January 2014 till 10 May 2017 and Privi Organics India Limited from 4 May 2017 till its amalgamation into this company w.e.f. 12 August 2020. We have considered his overall association with the promoter group. His overall tenure with the group will exceed ten years in January 2024 (within six months from the proposed reappointment). Further, we note that he is also serving as an independent director on the board of Yasho Industries Ltd, a listed company also operating in the specialty chemicals and aroma chemicals segment. Therefore, given his prolonged association with the promoter group and the potential conflict of interest we do not support his reappointment.
- Motilal Oswal Mutual FundRe-appointment compliant with law Governance concern: Proposed term will result in prolonged association.
3 for2 against
Mutual fund votes, meeting of 28 Sep 2022, 5 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 Standalonenand Consolidated Financial Statements of the Companynfor Financial year ended March 31, 2022, along with the Directors’ Report and Auditors’ Report thereon.MoreLess
5 for0 against- To declare Final Dividend of Rs. 2 (20%) per equity sharenof face value of Rs. 10 each for the financial year ended on March 31, 2022.5 for0 against
- To appoint a Director in place of Mr. Mahesh P Babani (DINn00051162), who retires by rotation and being eligible, offersnhimself for re-appointment.5 for0 against
- Ratification of Cost Auditor’s remuneration for the financialnyear ending March 31, 2023.
Against Nippon India Mutual Fund
- Nippon India Mutual FundLow audit fees
3 for1 against - Continuation of Mr. Padmanabh Ramchandra Barpanden(DIN:00016214) as Non-Executive Independent Director ofnthe Company, post attaining the age of 75 years.5 for0 against
1 proposal not matched to one resolution
- 4) Ratify remuneration of Rs. 650,000 payable to Kishore Bhatia & Associates as cost auditors for FY23.1 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes
Reported in the filing for the quarter to Sep 2026.
- Tax disputeCentral Board of Direct TaxSince 27 Dec 2016Case Before CIT (A)-9. Hearing date awaited
At the filing before: 1-Mark to Market loss on foreign exchange- Rs.5.58 crores. 2-Int. on capital advances- Rs. 19.62 lacs u/s. 36 (1)(iii). 3. Depn. On intangibles- Rs.19.71 lacs. 4-Disallowance of Exp.- as details not provided-Rs. 2 crores. 5-Disallowane u/s 14A-Rs. 24.06 lacs. (AY 2014-15)MoreLess
- Tax disputeCentral Board of Direct TaxSince 22 Dec 2018Case Before CIT (A)-9. Hearing date awaitedAt the filing before: scrutiny assessment completed- Points of appeal- 1-Disallowance U/s. 14A- Rs. 32.30 lacs & 2- Disallowance u/s. 36 (1)(iii) Rs. 35.17 lacs. (AY 2016-17)
- Tax disputeCentral Board of Direct TaxSince 8 Nov 2021Case Before CIT. Hearing date awaited
At the filing before: Disallowance of Rs.4.39 Cr. under TP& Rs. 19.15 lacs- U/s. 14A, Rs.36.32 lacs u/s. 36(1)(iii), Rs. 28.38 lacs u/s. 36(1)(va), Rs. 36.15 lacs u/s. 37(1) under direct tax additions. Transfer pricing Adjustment Rs.4.40 Crores (AY 2018-19)MoreLess
- Tax disputeCentral Board of Direct TaxSince 25 Feb 2022Case Before FMT (A)-9. Hearing date awaitedAt the filing before: Disallowance U/s. 14 A- Rs.9.75 lacs & 36(1)(iii)- Rs. 23.42 lacs & Rs. 10.86 Crores under Transfer pricing (AY 2017-18)
- Tax disputeCentral Board of Direct TaxSince 25 Oct 2022Appeal filed with ITAT. Hearing date awaitedAt the filing before: Arms length prices not accepted for Finished Goods- Additions in tax made Rs.3.17 Crores. No Direct Tax adjustment or Disallowances (AY 2017-18)
- Tax disputeCentral Board of Direct TaxSince 27 Jun 2024Appeal filed with ITAT Mumbai. Hearing date awaitedAt the filing before: Non consideration of our argument by DRP related to TP additions Rs.9.78 Crores & Disallowance of Expenses under Corporate Tax Rs. 66.94 Lakhs. Hence matter appealed with ITAT (AY 2020-21)
- Tax disputeCentral Board of Direct TaxSince 10 Jul 2024Case Before CIT (A)-9. Hearing date awaitedAt the filing before: 1-Int. on IT-Rs.57.16 lacs. 2-Int. on borrowed capital in respect of capital advances- Rs.38.11 lacs. 3- Disallowance U/s.14 A- Rs.23.73 lacs (AY 2015-16)
- Tax disputeCentral Board of Direct TaxSince 13 Feb 2025Case Before CIT. Hearing date awaitedAt the filing before: Assessment order passed u/s. 147 for the Income Tax Act, 1961 for Exp. Disallowed Rs. 5.42 Crores, u/s. 69 C of the Income Tax Act 1961. (AY 2021-22)
6 more
- Tax disputeCentral Board of Indirect Taxes & CustomsSince 28 Feb 2008Appeal with CESTAT- MumbaiAt the filing before: The DEPB licences used by us was purchased from open market. The seller of DEPB licences to us had obtained the same by making fradulent Exports.Disputed Amount- 9.52 lacs
- Tax disputeCentral Board of Indirect Taxes & CustomsSince 21 Mar 2013Appeal with CESTAT- MumbaiAt the filing before: The Rate of import duty followed was of " Steam Coal" but department alleged that it was "Bituminous Coal" where the custom duty rate was higher than "Steam Coal". Disputed amount - 90.55 lacs
- Tax disputeCentral Board of Indirect Taxes & CustomsSince 19 Sep 2024Appeal with CESTAT- MumbaiAt the filing before: Treated as violation of Notification No.18/2015-Cus as amended Vide Notification No. 79/2017-Cus dated 13.10.2017 Disputed Amount- 363.94 lacs
- Tax disputeCentral Board of Indirect Taxes & CustomsSince 13 Dec 2023Appeal with CESTAT- AhmedabadAt the filing before: Treated as violation of Notification No.18/2015-Cus as amended Vide Notification No. 79/2017-Cus dated 13.10.2017 Disputed Amount- 119.67 lacs
- Tax disputeCentral Board of Indirect Taxes & CustomsSince 18 Dec 2024Appeal with Joint Commisioner (Appeals)At the filing before: Denial of ITC on the ground that the credit is availed from the Non genuine vendor as per GST Dept. Record. Disputed amount- 6.29 lacs
- Tax disputeCentral Board of Indirect Taxes & CustomsSince 28 Dec 2024Appeal with Joint Commisioner (Appeals)At the filing before: Denial of ITC on the ground that the credit is availed from the Non genuine vendor as per GST Dept. Record. Disputed amount- 23.28 lacs
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
- 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
- Yes
- The filing has a part on fines and penalties
- No
- 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.