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Senco Gold CEO, MD, chairman, board of directors and AGM

NSE: SENCOBSE: 543936Consumer DurablesSmall Cap

Last close ₹309.30down ₹7.25 (2.29%)BSE ₹308.90

Share price at the NSE close on 23 Oct 2026. Previous close ₹316.55.

52-week range of traded prices to 23 Oct 2026
₹276.00Low, 30 Mar 2026₹430.00High, 27 Jul 2026
Market cap
₹5,069 Cr758th largest listed
P/E
8.9
P/B
2.0
Dividend yield
0.57%
ROE
25.5%
ROCE
22.4%
Debt to equity
0.62
Volume, NSE
13,34,73342.1% delivered

Senco Gold 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

  • ChairpersonRanjana SenRelated to the promoter
  • Managing director and CEOSuvankar Sen
  • Company Secretary and Compliance OfficerMukund Chandak

7 directors4 independent3 executive

  • Ranjana Sen · ChairpersonExecutive · joined Aug 2020 · reappointed Aug 2025 · 1 listed board
  • Suvankar Sen · Managing director and CEOExecutive · joined Feb 2005 · reappointed Apr 2022 · 1 listed board · 2 committee seats
  • Joita SenExecutive · joined Aug 2020 · reappointed Aug 2025 · 1 listed board · 1 committee seat
  • Bhaskar SenIndependent · joined Sep 2021 · reappointed Sep 2021 · 57 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Kumar Shankar DattaIndependent · joined Jul 2018 · reappointed Jul 2023 · 95 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 2 as chair
  • Suman VarmaIndependent · joined May 2018 · reappointed May 2023 · 97 months as independent · 1 listed board · 1 as independent
  • Shankar Prasad HalderIndependent · joined Feb 2022 · reappointed Apr 2022 · 53 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.

Committees and meetings

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

  • Board

    • 26 May 20267 of 7 present4 independent · 73 days in between
    • 13 Mar 20267 of 7 present4 independent · 28 days in between
    • 12 Feb 20267 of 7 present4 independent · 13 days in between
    • 29 Jan 20267 of 7 present4 independent · 7 days in between
    1 earlier meeting
    • 21 Jan 20267 of 7 present4 independent

  • Audit Committee

    Chair Kumar Shankar Datta

    Suvankar Sen, Bhaskar Sen, Shankar Prasad Halder

    • 26 May 20264 of 4 present3 independent · no day in between
    • 25 May 20264 of 4 present3 independent · 5 days in between
    • 19 May 20263 of 4 present2 independent · 66 days in between
    • 13 Mar 20264 of 4 present3 independent · 23 days in between
    3 earlier meetings
    • 17 Feb 20264 of 4 present3 independent · 4 days in between
    • 12 Feb 20264 of 4 present3 independent · no day in between
    • 11 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Kumar Shankar Datta

    Suman Varma, Bhaskar Sen, Shankar Prasad Halder

    • 19 May 20263 of 4 present3 independent · 69 days in between
    • 10 Mar 20264 of 4 present4 independent

  • Stakeholders Relationship Committee

    Chair Kumar Shankar Datta

    Suvankar Sen, Bhaskar Sen, Shankar Prasad Halder, Joita Sen

    • 10 Mar 20265 of 5 present3 independent

  • Risk Management Committee

    Chair Bhaskar Sen

    Suvankar Sen, Joita Sen, Shankar Prasad Halder, Kumar Shankar Datta, Suman Varma

    • 10 Mar 20266 of 6 present4 independent

  • Corporate Social Responsibility Committee

    Chair Suvankar Sen

    Kumar Shankar Datta, Joita Sen, Suman Varma, Bhaskar Sen, Ranjana Sen

    • 26 May 20266 of 6 present3 independent · 79 days in between
    • 7 Mar 20266 of 6 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. Walker Chandiok & Co. LLPPeer-review certificate valid to May 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.

Senco Gold 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.Senco Gold dividend history

Annual general meeting, 31 Aug 2026

1,61,149 shareholders on the register on 24 Aug 2026; present: 9 promoters and 588 others; votes counted by Mr. Atul Kumar Labh / LABH & LABH Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.38%

    Turnout: all 74.75% · promoters 100.00% · institutions 56.68% · other public 0.31%

  2. To confirm the payment of Interim Dividend of INR. 0.75/- (15%) per equity share of face value of INR. 5/- each and to declare a Final Dividend of INR 1/- (20%) per equity share of face value of INR. 5/- each for the financial year ended March 31, 2026.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.21%

    Turnout: all 74.76% · promoters 100.00% · institutions 56.73% · other public 0.31%

  3. To appoint a director in place of Mrs. Ranjana Sen (DIN: 01226337) who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.55% · other public 0.69%

    Turnout: all 74.76% · promoters 100.00% · institutions 56.73% · other public 0.31%

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 Mar 2026, 1 resolution

1,59,646 shareholders on the register on 13 Feb 2026; votes counted by Mr. Atul Kumar Labh / LABH & LABH Associates.The company's voting result (opens in a new tab)

  1. To consider and approve the payment of commission to non-executive directors of the company
    Ordinary
    88.67% for11.33% against

    Against: promoters 0.00% · institutions 65.64% · other public 10.05%

    Turnout: all 77.95% · promoters 100.00% · institutions 67.09% · other public 0.15%

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, 27 Aug 2025, 5 resolutions

1,70,926 shareholders on the register on 20 Aug 2025; present: 9 promoters and 435 others; votes counted by Atul Kumar Labh / A. K. Labh & Co..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, 2025, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.81% · promoters 100.00% · institutions 73.64% · other public 0.14%

  2. To declare final dividend of INR. 1/- (20%) per equity share of face value of INR 5/- each for the financial year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.21%

    Turnout: all 78.82% · promoters 100.00% · institutions 73.69% · other public 0.14%

  3. To appoint a director in place of Mrs. Joita Sen (DIN: 08828875) who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 5.48%

    Turnout: all 78.82% · promoters 100.00% · institutions 73.69% · other public 0.14%

  4. To consider and appoint M/s. LABH & LABH Associates, Company Secretaries as Secretarial Auditor of the Company.
    Ordinary
    99.66% for0.34% against

    Against: promoters 0.00% · institutions 1.84% · other public 0.41%

    Turnout: all 78.82% · promoters 100.00% · institutions 73.69% · other public 0.14%

  5. Approval of charges for the service of documents to the shareholders.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 30.25%

    Turnout: all 78.82% · promoters 100.00% · institutions 73.69% · other public 0.14%

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

Postal ballot, 15 Jul 2025, 2 resolutions

1,72,295 shareholders on the register on 6 Jun 2025; votes counted by Atul Kumar Labh / A. K. Labh & Co..The company's voting result (opens in a new tab)

  1. To consider and approve the re-appointment of Smt. Ranjana Sen (DIN: 01226337) as a whole-time director designated as chairperson of the company
    SpecialPromoters have an interest in it
    99.64% for0.36% against

    Against: promoters 0.00% · institutions 2.04% · other public 16.63%

    Turnout: all 78.03% · promoters 100.00% · institutions 68.21% · other public 0.28%

  2. To consider and approve the re-appointment of Smt. Joita Sen (DIN: 08828875) as a whole-time director of the company
    OrdinaryPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.07% · other public 14.90%

    Turnout: all 78.03% · promoters 100.00% · institutions 68.21% · other public 0.28%

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, 26 Nov 2024, 3 resolutions

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

  1. TO APPROVE CAPITAL RAISING BY WAY OF ISSUANCE OF EQUITY SHARES AND/OR EQUITY LINKED SECURITIES BY WAY OF QUALIFIED INSTITUTIONS PLACEMENT (“QIP”) IN ONE OR MORE TRANCHES
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 10.09%

    Turnout: all 77.13% · promoters 99.99% · institutions 52.73% · other public 0.22%

  2. APPROVAL FOR SUB-DIVISION/ SPLIT OF EXISTING 1 (ONE) EQUITY SHARE OF FACE VALUE OF RS. 10/- (RUPEES TEN ONLY) EACH FULLY PAID UP INTO 2 (TWO) EQUITY SHARES OF FACE VALUE OF RS. 5/- (RUPEES FIVE ONLY) EACH FULLY PAID UPMoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.22%

    Turnout: all 77.13% · promoters 99.99% · institutions 52.73% · other public 0.22%

  3. TO AMEND THE ARTICLES OF ASSOCIATION OF THE COMPANY
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.30%

    Turnout: all 77.13% · promoters 99.99% · institutions 52.73% · other public 0.22%

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, 13 Sep 2024, 7 resolutions

Present: 5 promoters and 200 others.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 31st March 2024 together with Reports of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.17%

    Turnout: all 78.45% · promoters 100.00% · institutions 56.46% · other public 0.27%

  2. ORDINARY - To declare final dividend of Re. 1/- (10%) per equity share of face value of Rs. 10/- each for the financial year ended March 31, 2024 and to confirm the interim dividend of Re. 1/- (10%) per equity share, already paid during the financial year 2023-24MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 78.45% · promoters 100.00% · institutions 56.46% · other public 0.27%

  3. To appoint a director in place of Mr. Suvankar Sen (DIN: 01178803) who retires by rotation and being eligible offers himself for re- appointment.
    Ordinary
    99.37% for0.63% against

    Against: promoters 0.00% · institutions 4.98% · other public 0.31%

    Turnout: all 78.45% · promoters 100.00% · institutions 56.46% · other public 0.27%

  4. Re-appointment of M/s, Walker Chandiok & Co. LLP , Chartered Accountants as Statutory Auditors of the Company and to fix their remunaration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.44%

    Turnout: all 78.45% · promoters 100.00% · institutions 56.46% · other public 0.27%

  5. To borrow in excess of the limits provided under section 180(1)(c) of the Companies Act, 2013
    Special
    97.95% for2.05% against

    Against: promoters 0.00% · institutions 16.12% · other public 1.11%

    Turnout: all 78.45% · promoters 100.00% · institutions 56.46% · other public 0.27%

  6. To approve the power to create charge on the assets of the company to secure borrowings up to Rs. 4000 Crores pursuant to section 180(1)(a) of the Companies Act 2013.
    Special
    97.95% for2.05% against

    Against: promoters 0.00% · institutions 16.12% · other public 1.26%

    Turnout: all 78.45% · promoters 100.00% · institutions 56.46% · other public 0.27%

  7. To amend the Articles of Association
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.12% · other public 0.76%

    Turnout: all 78.30% · promoters 100.00% · institutions 55.64% · other public 0.27%

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, 7 Jun 2024, 2 resolutions

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

  1. Ratification of Senco Gold Limited Employees Stock Option Scheme 2018 as per SEBI (Share Based Employee Benefits And Sweat Equity) Regulations, 2021
    Special
    95.03% for4.97% against

    Against: promoters 0.00% · institutions 22.22% · other public 4.84%

    Turnout: all 88.19% · promoters 99.99% · institutions 93.39% · other public 0.36%

  2. Extension of the Benefits of Senco Gold Limited Employees Stock Option Scheme 2018 to the Employees of the Subsidiary Compan(ies) of the Company
    Special
    95.03% for4.97% against

    Against: promoters 0.00% · institutions 22.22% · other public 7.94%

    Turnout: all 88.19% · promoters 99.99% · institutions 93.39% · other public 0.36%

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.

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 31 Aug 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    3 for0 against
  • To confirm the payment of Interim Dividend of INR. 0.75/- (15%) per equity share of face value of INR. 5/- each and to declare a Final Dividend of INR 1/- (20%) per equity share of face value of INR. 5/- each for the financial year ended March 31, 2026.MoreLess
    3 for0 against
  • To appoint a director in place of Mrs. Ranjana Sen (DIN: 01226337) who retires by rotation and being eligible, offers herself for re-appointment.
    3 for0 against

Mutual fund votes, meeting of 21 Mar 2026, 10 fund houses

  • To consider and approve the payment of commission to non-executive directors of the company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund
    • Angel One Mutual FundNo absolute cap on proposed payment of commission & Perpetual Approval.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. Governance concern: The Company has not placed any absolute cap on the total commission payable or on the maximum commission for an individual director, apart from the statutory limit of 1% of net profits. The resolution grants the Board discretion to determine the commission amount, which is generally not considered a good governance practice. Further, the Company has not disclosed the tenure of the proposed approval. In the absence of a specified term, the approval may effectively remain valid indefinitely.
    • Bank of India Mutual Fund, Sundaram Mutual FundThe company seeks shareholder approval for payment of commission of up to 1% of profits to non-executive directors, including independent directors, in addition to sitting fees and reimbursement of expenses for attending board/committee meetings from FY26 onwards. The payment to an individual director shall not exceed 50% of the payment in aggregate, including sitting fee, made to all the non-executive directors, including independent directors, in any financial year. Although the proposed commission to non-executive directors is in line with market practice, the company has not defined a term for the validity of the resolution and thus, it is effectively valid in perpetuity. We believe shareholders must be able to periodically review such resolutions and, therefore, do not support the resolution. Furthermore, as companies grow, we expect them to cap commission payable in absolute terms.
    • Invesco Mutual FundThe company seeks shareholder approval for payment of commission of up to 1% of profits to non-executive directors, including independent directors, in addition to sitting fees and reimbursement of expenses for attending board/committee meetings from FY26 onwards. The payment to an individual director shall not exceed 50% of the payment in aggregate, including sitting fee, made to all the non-executive directors, including independent directors, in any financial year. Although the proposed commission to non-executive directors is in line with market practice, the company has not defined a term for the validity of the resolution and thus, it is effectively valid in perpetuity. We believe shareholders must be able to periodically review such resolutions and, therefore, do not support the resolution. Furthermore, as companies grow, we expect them to cap commission payable in absolute terms
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    1 for9 against
5 earlier meetings

Mutual fund votes, meeting of 27 Aug 2025, 13 fund houses

  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended on March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    13 for0 against
  • To declare final dividend of INR. 1/- (20%) per equity share of face value of INR 5/- each for the financial year ended March 31, 2025.
    13 for0 against
  • To appoint a director in place of Mrs. Joita Sen (DIN: 08828875) who retires by rotation and being eligible, offers herself for re-appointment.
    13 for0 against
  • To consider and appoint M/s. LABH & LABH Associates, Company Secretaries as Secretarial Auditor of the Company.
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual FundTransparency Concern: Previous auditors’ remuneration not available to ascertain as to whether there is any material change in the proposed Audit fee.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: Previous auditors’ remuneration not available to ascertain as to whether there is any material change in the proposed Audit fee.
    • PGIM India Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: Previous auditors remuneration not available to ascertain as to whether there is any material change in the proposed Audit fee.
    8 for5 against
  • Approval of charges for the service of documents to the shareholders.
    13 for0 against

Mutual fund votes, meeting of 15 Jul 2025, 14 fund houses

  • To consider and approve the re-appointment of Smt. Ranjana Sen (DIN: 01226337) as a whole-time director designated as chairperson of the company
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual FundGovernance concern: Combined position of Chairman and Executive Director may lead to concentration of power in the hands of single person.
    • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. No concern on the merits of appointee. Governance concern: Combined position of Chairman and ED may lead to concentration of power in the hands of single person.
    • PGIM India Mutual FundHolds combined position of Executive Chairman.
    9 for5 against
  • To consider and approve the re-appointment of Smt. Joita Sen (DIN: 08828875) as a whole-time director of the company
    14 for0 against

Mutual fund votes, meeting of 26 Nov 2024, 14 fund houses

  • TO APPROVE CAPITAL RAISING BY WAY OF ISSUANCE OF EQUITY SHARES AND/OR EQUITY LINKED SECURITIES BY WAY OF QUALIFIED INSTITUTIONS PLACEMENT (“QIP”) IN ONE OR MORE TRANCHES
    14 for0 against
  • APPROVAL FOR SUB-DIVISION/ SPLIT OF EXISTING 1 (ONE) EQUITY SHARE OF FACE VALUE OF RS. 10/- (RUPEES TEN ONLY) EACH FULLY PAID UP INTO 2 (TWO) EQUITY SHARES OF FACE VALUE OF RS. 5/- (RUPEES FIVE ONLY) EACH FULLY PAID UPMoreLess
    14 for0 against
  • TO AMEND THE ARTICLES OF ASSOCIATION OF THE COMPANY
    14 for0 against

Mutual fund votes, meeting of 13 Sep 2024, 11 fund houses

  • To receive , consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended on 31st March 2024 together with Reports of Directors and Auditors thereon.MoreLess
    11 for0 against
  • ORDINARY - To declare final dividend of Re. 1/- (10%) per equity share of face value of Rs. 10/- each for the financial year ended March 31, 2024 and to confirm the interim dividend of Re. 1/- (10%) per equity share, already paid during the financial year 2023-24MoreLess
    11 for0 against
  • To appoint a director in place of Mr. Suvankar Sen (DIN: 01178803) who retires by rotation and being eligible offers himself for re- appointment.
    Against Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merits of proposed Director. Governance concern: Gender biased Remuneration.
    8 for3 against
  • Re-appointment of M/s, Walker Chandiok & Co. LLP , Chartered Accountants as Statutory Auditors of the Company and to fix their remunaration.
    11 for0 against
  • To borrow in excess of the limits provided under section 180(1)(c) of the Companies Act, 2013
    Against Invesco Mutual Fund
    • Invesco Mutual FundThe company’s debt programs are rated ICRA A/Stable/ICRA A2+ which denote adequate degree of safety for long-term debt and very strong degree of safety for short-term debt regarding timely payment of financial obligations. As on 31 March 2024, the company’s consolidated net worth was Rs. 13.7 bn (automatic borrowing limit of Rs. 13.6 bn) and it had debt of Rs. 14.9 bn. At the current borrowing limit of Rs. 30.0 bn, the company has enough headroom to borrow. The company should have provided granular details regarding the reason for increasing the limits. The proposed limits of Rs. 40.0 bn are higher than the company’s consolidated total assets aggregating Rs. 37.2 bn on 31 March 2024. If the company raises the entire debt of Rs. 40.0 bn, its debt-to-equity ratio would deteriorate significantly. In the absence of a clear rationale to raise borrowing limits to Rs. 40.0 bn, we do not support the resolution.
    10 for1 against
  • To approve the power to create charge on the assets of the company to secure borrowings up to Rs. 4000 Crores pursuant to section 180(1)(a) of the Companies Act 2013.
    Against Invesco Mutual Fund
    • Invesco Mutual FundSecured loans generally have easier repayment terms, less restrictive covenants, and lower interest rates. We note that Senco Gold Limited had Rs. 37.2 bn in total assets on a consolidated basis on 31 March 2024. Therefore, the level of asset pledge being sought is high. Further, our opinion on this resolution is linked to our decision on Resolution #5.
    10 for1 against
  • To amend the Articles of Association
    11 for0 against

Mutual fund votes, meeting of 7 Jun 2024, 7 fund houses

  • Ratification of Senco Gold Limited Employees Stock Option Scheme 2018 as per SEBI (Share Based Employee Benefits And Sweat Equity) Regulations, 2021
    Against Bandhan Mutual Fund, Bank of India Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Sundaram Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise Price or Pricing Formula under the Scheme. Governance & Transparency Concern: Excessive benefit can be extended to an individual employee.
    • Bank of India Mutual FundThe overall dilution of the scheme for 1,000,000 options is ~1.42% on the expanded capital base. The vesting of options is either time based, or performance based (performance metrics have not been disclosed) as decided by the Nomination and Remuneration Committee (NRC). While the notice states that the options will be granted at market price, the NRC has the discretion to allow a discount to the market price. We note that in the past, the company has issued stock options at a discount (between 19.5% to 40.2% over the past three years) to the market price. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe as a good practice companies should grant stock options at market price, or the options should have a performance-based vesting with clearly defined performance metrics.
    • Invesco Mutual FundThe overall dilution of the scheme for 1,000,000 options is ~1.42% on the expanded capital base. The vesting of options is either time based, or performance based (performance metrics have not been disclosed) as decided by the Nomination and Remuneration Committee (NRC). While the notice states that the options will be granted at market price, the NRC has the discretion to allow a discount to the market price. We note that in the past, the company has issued stock options at a discount (between 19.5% to 40.2% over the past three years) to the market price. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe as a good practice companies should grant stock options at market price, or the options should have a performance-based vesting with clearly defined performance metrics
    • Sundaram Mutual Fund"The overall dilution of the scheme for 1,000,000 options is ~1.42% on the expanded capital base. The vesting of options is either time based, or performance based (performance metrics have not been disclosed) as decided by the Nomination and Remuneration Committee (NRC). While the notice states that the options will be granted at market price, the NRC has the discretion to allow a discount to the market price. We note that in the past, the company has issued stock options at a discount (between 19.5% to 40.2% over the past three years) to the market price. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. We believe as a good practice companies should grant stock options at market price, or the options should have a performance-based vesting with clearly defined performance metrics."
    1 for6 against
  • Extension of the Benefits of Senco Gold Limited Employees Stock Option Scheme 2018 to the Employees of the Subsidiary Compan(ies) of the Company
    Against Bandhan Mutual Fund, Bank of India Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Sundaram Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise Price or Pricing Formula under the Scheme. Governance & Transparency Concern: Excessive benefit can be extended to an individual employee.
    • Bank of India Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundThrough resolution #2, the company proposes to extend the ESOP Scheme 2018 to the employees of its subsidiary companies. While we support the extension of stock options to employees of unlisted subsidiaries, our view on this resolution is linked to our view on resolution #1.
    1 for6 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 Jun 2026.

  • Tax disputeThe Commissioner of Central GST, Kolkata North CommissionerateSince 31 May 2021
    Pending before CESTAT, Kolkata.
  • Tax disputeThe Commissioner of Income-Tax, KolkataSince 20 Dec 2016
    An Order dated 28.04.25 has been issued u/s 250 of the Income Tax Act, where the entire demand of Rs. 7.47 Cr. has been dropped by CIT (A). However, the effect order of AO u/s 153(5) is yet to be received from the department. Further Department has filed an Appeal before the Appellate Tribunal, Kolkata on 19.07.2025 against the Order passed by the CIT(A). [intimation was received on 24.09.2025] Hence the amount of Rs. 7.47 Cr is still included under Contingent Liabilities.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 2024.
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.

How money raised was used

Reported for the quarter to Dec 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.

RaisedAmount raisedForSet asideSpentSpent elsewhere
QIPDec 2024, checked by ICRA Limited459.00––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.