Sahyadri Industries logo

Sahyadri Industries CEO, MD, chairman, board of directors and AGM

NSE: SAHYADRIBSE: 532841Other Construction MaterialsSmall Cap

Last close ₹326.80up ₹12.70 (4.04%)BSE ₹324.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹314.10.

52-week range of traded prices to 23 Oct 2026
₹200.10Low, 30 Mar 2026₹408.95High, 15 Sep 2026
Market cap
₹358 Cr2,167th largest listed
P/E
8.0
P/B
0.9
Dividend yield
1.22%
ROE
11.4%
ROCE
13.2%
Debt to equity
0.04
Volume, NSE
11,96769.2% delivered

Sahyadri Industries board of directors

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

  • ChairpersonJAYESH PURUSHOTTAM PATEL
  • Managing directorSATYEN VALLABHBHAI PATEL
  • Chief executiveTULJARAM MAHESHWARI
  • Company Secretary and Compliance OfficerRAJIB KUMAR GOPE

8 directors4 independent4 executive

  • JAYESH PURUSHOTTAM PATEL · ChairpersonExecutive · joined Jan 1999 · reappointed Oct 2025 · 1 listed board · 2 committee seats
  • SATYEN VALLABHBHAI PATEL · Managing directorExecutive · joined Aug 1998 · reappointed Jul 2025 · 1 listed board · 1 committee seat
  • TULJARAM MAHESHWARI · Chief executiveExecutive · joined Oct 2020 · reappointed Oct 2025 · 1 listed board
  • SURESH UDDHAV JOSHIExecutive · joined Oct 2020 · reappointed Oct 2025 · 1 listed board
  • VED PRAKASH SAXENAIndependent · joined Aug 2020 · reappointed Aug 2025 · 70 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • MOUSHMI SAHIL SHAHAIndependent · joined Jul 2021 · 59 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • ANKEM SRI PRASAD MOHANIndependent · joined Dec 2021 · 54 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • SUNIL MAHENDRA SURATWALAIndependent · joined May 2026 · 1 month 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.

1 director who left
  • SHRIKANT BALKRISHNA MALEGAONKAR, left 6 Apr 2026: Others

Committees and meetings

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

  • Board

    • 9 May 20266 of 7 present3 independent · 34 days in between
    • 4 Apr 20266 of 8 present3 independent · 51 days in between
    • 11 Feb 20267 of 8 present3 independent

  • Audit Committee

    Chair ANKEM SRI PRASAD MOHAN

    JAYESH PURUSHOTTAM PATEL, MOUSHMI SAHIL SHAHA, SUNIL MAHENDRA SURATWALA

    • 9 May 20263 of 3 present2 independent · 86 days in between
    • 11 Feb 20263 of 4 present2 independent

  • Nomination and remuneration committee

    Chair ANKEM SRI PRASAD MOHAN

    VED PRAKASH SAXENA, MOUSHMI SAHIL SHAHA, SUNIL MAHENDRA SURATWALA

    • 9 May 20263 of 3 present3 independent · 86 days in between
    • 11 Feb 20263 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair VED PRAKASH SAXENA

    SATYEN VALLABHBHAI PATEL, JAYESH PURUSHOTTAM PATEL, SUNIL MAHENDRA SURATWALA

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair SATYEN VALLABHBHAI PATEL

    JAYESH PURUSHOTTAM PATEL, ANKEM SRI PRASAD MOHAN, VED PRAKASH SAXENA

    • 9 May 20264 of 4 present2 independent

  • FINANCE AND GENERAL AFFAIRS COMMITTEE

    Chair JAYESH PURUSHOTTAM PATEL

    SATYEN VALLABHBHAI PATEL, TULJARAM MAHESHWARI, VALLABH LALJI PATEL, PURUSHOTTAMBHAI LALJIBHAI PATEL

    • 4 Apr 20263 of 3 present0 independent

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

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • M/S Joshi Apte & CoPeer-review certificate valid to May 2027
1 earlier auditor
  • Joshi Apte & Co.Named in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Sahyadri Industries 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.Sahyadri Industries dividend history

Annual general meeting, 17 Aug 2026

10,638 shareholders on the register on 10 Aug 2026; present: 18 promoters and 30 others; votes counted by ASHWINI INAMDAR / MEHTA & MEHTA.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements of the company for the financial year ended on 31st March, 2026 together with the report of the auditors’ and board of directors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.41% · promoters 100.00% · institutions 0.00% · other public 1.01%

  2. To appoint Mr. Tuljaram Maheshwari (DIN: 00063688) as a director of the company who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.18% · promoters 100.00% · institutions 0.00% · other public 0.22%

  3. To declare a final dividend of Rs.1.5 per equity share for the financial year ended on 31st March 2026.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 71.41% · promoters 100.00% · institutions 0.00% · other public 1.01%

  4. To re-appoint M/s Joshi Apte & Company, Statutory Auditors for a 2nd term of five years and to fix their remuneration.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.41% · promoters 100.00% · institutions 0.00% · other public 1.01%

  5. To ratify remuneration payable to the Cost Auditor, Mr. Narhar K. Nimkar for the financial year 2026- 27.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 71.41% · promoters 100.00% · institutions 0.00% · other public 1.01%

  6. To re-appoint Mr. Ankem Sri Prasad Mohan (DIN: 09413926) as an Independent Director for second term of five years.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 71.41% · promoters 100.00% · institutions 0.00% · other public 1.01%

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, 22 Jun 2026, 2 resolutions

10,843 shareholders on the register on 15 May 2026; votes counted by Ashwini Inamdar / Mehta & Mehta.The company's voting result (opens in a new tab)

  1. APPOINTMENT OF MR. SUNIL SURATWALA (DIN: 00490715) AS NON-EXECUTIVE INDEPENDENT DIRECTOR FOR A TERM OF 5 YEARS.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.82%

    Turnout: all 71.51% · promoters 100.00% · institutions 0.00% · other public 1.36%

  2. RE-APPOINTMENT OF MRS. MOUSHMI SHAHA (DIN: 02915342) AS NON-EXECUTIVE INDEPENDENT DIRECTOR FOR A SECOND TERM OF FIVE YEARS.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.82%

    Turnout: all 71.51% · promoters 100.00% · institutions 0.00% · other public 1.36%

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, 22 Aug 2025, 11 resolutions

11,396 shareholders on the register on 15 Aug 2025; present: 18 promoters and 33 others; votes counted by Ashwini Inamdar / M/s. Mehta & Mehta.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended on 31st March, 2025 together with the report of the auditors’ and Board of Directors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.48% · promoters 100.00% · institutions 0.00% · other public 1.25%

  2. To appoint Mr. Satyen V Patel (DIN: 00131344) as a director of the company who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 67.74% · promoters 94.74% · institutions 0.00% · other public 1.25%

  3. To declare a Final Dividend of Re. 1 per equity share for the Financial Year ended on 31st March 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.48% · promoters 100.00% · institutions 0.00% · other public 1.25%

  4. To appoint M/s Mehta & Mehta as Secretarial Auditor for a term of 5 years and to fix their remuneration.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.48% · promoters 100.00% · institutions 0.00% · other public 1.25%

  5. To ratify remuneration payable to the Cost Auditor, Mr. Narhar K. Nimkar, for the financial year 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.48% · promoters 100.00% · institutions 0.00% · other public 1.25%

  6. To consider re-appointment of Mr. Jayesh P Patel as Chairman and Whole Time Director for a period of 3 years and fix his remuneration.
    Special
    100.00% for0.00% against

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

    Turnout: all 63.43% · promoters 88.69% · institutions 0.00% · other public 1.25%

  7. To consider re‐appointment of Mr. Satyen V Patel as Managing Director for a period of 3 years and fix his remuneration.
    Special
    100.00% for0.00% against

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

    Turnout: all 67.74% · promoters 94.74% · institutions 0.00% · other public 1.25%

  8. To consider re‐appointment of Mr. Tuljaram Maheshwari as CEO, CFO and Whole‐Time Director for a period of 3 years and fix his remuneration.
    Special
    100.00% for0.00% against

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

    Turnout: all 71.25% · promoters 100.00% · institutions 0.00% · other public 0.46%

  9. To consider re-appointment of Mr. Suresh U Joshi as Whole-Time Director for a period of 3 years and fix his remuneration
    Special
    100.00% for0.00% against

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

    Turnout: all 71.46% · promoters 100.00% · institutions 0.00% · other public 1.19%

  10. To re-appoint Mr. Ved Prakash Saxena (DIN: 08856322) as an Independent Director for a second term of 5 years.
    Special
    100.00% for0.00% against

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

    Turnout: all 71.48% · promoters 100.00% · institutions 0.00% · other public 1.25%

  11. Continuation of Ved Prakash Saxena as a non-executive Independent Director of the company on completion of 75 years of age.
    Special
    100.00% for0.00% against

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

    Turnout: all 71.48% · promoters 100.00% · institutions 0.00% · other public 1.25%

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

Annual general meeting, 9 Aug 2024, 4 resolutions

Present: 18 promoters and 33 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended on 31st March, 2024 together with the Report of the Auditors’ and Board of Directors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.04% · promoters 100.00% · institutions 0.00% · other public 3.21%

  2. To appoint Mr. Jayesh Patel (DIN : 00131517) as a director of the company who retire by rotation and being elegible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 64.00% · promoters 88.69% · institutions 0.00% · other public 3.21%

  3. To declare a final dividend of Rs. 01 per equity shares for the financial year ended on 31st March, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.04% · promoters 100.00% · institutions 0.00% · other public 3.21%

  4. To ratify remuneration payble to the Cost Auditor, Mr. Narhar K. Nimkar, for the Financial Year 2024-25
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.04% · promoters 100.00% · institutions 0.00% · other public 3.21%

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, 28 Mar 2024, 4 resolutions

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

  1. APPROVAL FOR PAYMENT OF REMUNERATION TO MR. JAYESH P PATEL, (DIN n00131517) CHAIRMAN AND WHOLE-TIME DIRECTOR UNDER SCHEDULE V OF THE nCOMPANIES ACT, 2013
    SpecialPromoters have an interest in it
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.04%

    Turnout: all 63.79% · promoters 88.69% · institutions 0.00% · other public 2.49%

  2. APPROVAL FOR PAYMENT OF REMUNERATION TO MR. SATYEN V PATEL, (DIN n00131344) MANAGING DIRECTOR UNDER SCHEDULE V OF THE COMPANIES ACT, 2013
    SpecialPromoters have an interest in it
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.05%

    Turnout: all 68.10% · promoters 94.74% · institutions 0.00% · other public 2.48%

  3. APPROVAL FOR PAYMENT OF REMUNERATION TO MR. TULJARAM MAHESHWARI, n(DIN 00063688) CEO, CFO AND WHOLE-TIME DIRECTOR UNDER SCHEDULE V OF THE nCOMPANIES ACT, 2013
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.28%

    Turnout: all 71.61% · promoters 100.00% · institutions 0.00% · other public 1.69%

  4. APPROVAL FOR PAYMENT OF REMUNERATION TO MR. SURESH JOSHI, (DIN n00130591) WHOLE-TIME DIRECTOR UNDER SCHEDULE V OF THE COMPANIES ACT, 2013
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.27%

    Turnout: all 71.82% · promoters 100.00% · institutions 0.00% · other public 2.42%

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, 9 Aug 2023, 4 resolutions

Present: 17 promoters and 27 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year on ended 31st March 2023 together with the Report of the Auditors’ and Board of Directors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.57% · promoters 100.00% · institutions 0.00% · other public 1.57%

  2. To appoint Mr. Suresh Uddhav Joshi (DIN:00130591) as a director of the company who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.55% · promoters 100.00% · institutions 0.00% · other public 1.51%

  3. To confirm the payment of the Interim Dividend of Rs 2.5 per equity share and declare a Final Dividend of Rs 1.5 per equity share for the Financial Year ended on 31st March 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.57% · promoters 100.00% · institutions 0.00% · other public 1.57%

  4. To ratify remuneration payable to the Cost Auditor, Mr. Narhar K. Nimkar, for the financial year 2023- 24
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.57% · promoters 100.00% · institutions 0.00% · other public 1.57%

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.

Tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtEmerge Solar One Private LimitedSince 11 Jun 2026

    7.14% bought in the quarter; holding 7.14%, from 0.00%

  • Tax disputeGST DepartmentSince 30 Dec 2023
    No change.
    At the filing before: The company received order for FY 2017-18 from Deputy Commissioner (ST), Special Circle-VJA-1 , No. 1 Division, Vijaywada dated 30th December, 2023 relating to Output tax reconcilation, Input tax credit reversal/Disallowance. Demand order Rs. 13.91 lakhs. The matter is under Appeal with the Additional Commissioner (St),VijayawadaMoreLess
  • Tax disputeGST DepartmentSince 30 Apr 2024
    No change.
    At the filing before: The company received order for FY 2018-19 from Deputy Commissioner (ST), Special Circle-VJA-1 , No. 1 Division, Vijaywada dated 30th April, 2024 relating to Output tax reconcilation, Input tax credit reversal/Disallowance/RCM applicability. Demand order Rs. 176.54 lakhs The matter is under Appeal with the Additional Commissioner (St),VijayawadaMoreLess
  • Tax disputeGST DepartmentSince 26 Jun 2024
    No change.
    At the filing before: The company received order for FY 2019-20 and FY 2020-21 from Deputy Commissioner (ST), Special Circle-VJA-1 , No. 1 Division, Vijaywada dated 26th June, 2024 relating to Output tax reconcilation, Input tax credit reversal/Disallowance. Demand order Rs. 179.16 lakhs. The matter is under Appeal with the Additional Commissioner (St),VijayawadaMoreLess
  • Tax disputeGST DepartmentSince 14 May 2025
    No change.
    At the filing before: The company has discharged the partial liability of Rs. 5.35 lakhs out of the demand order of Rs. 171.55 lakhs, . This includes the entire liability of for FY 2024-25 and partial liability for FYs 2018-19, 2019-20, and 2023-24. For the balance amount of Rs. 166.20 lakhs, the company has filed an appeal with the Appellate Deputy Commissioner (CT), GST Appeal (Erode and Salem).MoreLess
  • Tax disputeGST DepartmentSince 22 May 2025
    No change.
    At the filing before: The company has discharged partial liability of Rs. 3.46 lakhs out of the demand order of Rs. 108.75 lakhs for FY 2020-21, FY 2021-22 and FY 2022-23. For the balance amount of Rs. 105.29 lakhs, the company has filed an appeal with the Appellate Deputy Commissioner (CT),GST Appeal (Erode and Salem)MoreLess
  • Tax disputeGST DepartmentSince 26 Nov 2025
    The company received order against appeal from Joint Commissioner of State Tax, Pune, Maharashtra dated 22.05.2026. The demand order is Rs. 247.76 lakhs. The matter is under appeal with the GST Appellate Tribunal, Pune, MaharashtraMoreLess
    At the filing before: The company received order for FY 2021-22 from Dy. Commissioner of State Tax, PUN-NOD-E-0607, Pune, Maharashtra relating to Input tax credit reversal/Disallowance. Demand order is Rs. 233.19 lakhs. The matter is under appeal with the Joint Commissioner of State Tax, Pune, MaharashtraMoreLess
  • Tax disputeGST DepartmentSince 3 Dec 2025
    No change.
    At the filing before: The company received order for FY 2021-22 and FY 2022-23 from Deputy Commissioner (ST), Special Circle-VJA-1 , No. 1 Division, Vijaywada dated 3rd December, 2025 relating to Input tax credit reversal/Disallowance. Demand order is Rs. 162.36 lakhs. The company has filed an appeal with the Additional Commissioner (ST),Vijayawada.MoreLess

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

At most 1 complaint open, quarter to Dec 2025.
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
No
The chair is related to the managing director
No
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.