Sharda Motor Industries logo

Sharda Motor Industries MD, chairman, board of directors and AGM

NSE: SHARDAMOTRBSE: 535602Auto ComponentsSmall Cap

Last close ₹812.05down ₹22.85 (2.74%)BSE ₹812.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹834.90.

52-week range of traded prices to 23 Oct 2026
₹700.00Low, 30 Mar 2026₹1,189.90High, 11 Nov 2025
Market cap
₹4,662 Cr790th largest listed
P/E
14.0
P/B
3.6
Dividend yield
2.46%
ROE
28.0%
ROCE
27.3%
Debt to equity
0.00
Volume, NSE
47,97447.7% delivered

Sharda Motor Industries 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

  • ChairpersonAjay RelanRelated to the promoter
  • Compliance OfficerIti Goyal

6 directors3 independent2 executive1 non-executive

  • Ajay Relan · ChairpersonExecutive · joined Jan 1986 · reappointed Sep 2026 · 1 listed board · 1 committee seat
  • Udayan BanerjeeIndependent · joined Feb 2019 · reappointed Jan 2022 · 91 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Nitin VishnoiExecutive · joined Sep 2019 · reappointed Sep 2024 · 1 listed board
  • Sarita DhuperIndependent · joined Jun 2020 · reappointed Jun 2025 · 75 months as independent · 1 listed board · 1 as independent
  • Navin PaulIndependent · joined Aug 2024 · reappointed Aug 2024 · 28 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
  • Kishan Nagin ParikhNon-executive · joined Sep 2024 · reappointed Sep 2024 · 2 listed boards · 3 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

    • 10 Aug 20263 of 6 present3 independent · 80 days in between
    • 21 May 20263 of 6 present3 independent

  • Audit Committee

    Chair Navin Paul

    Udayan Banerjee, Kishan Nagin Parikh

    • 10 Aug 20263 of 3 present2 independent · 80 days in between
    • 21 May 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Navin Paul

    Kishan Nagin Parikh, Udayan Banerjee

    • 10 Aug 20263 of 3 present2 independent · 80 days in between
    • 21 May 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Udayan Banerjee

    Kishan Nagin Parikh, Ajay Relan

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Kishan Nagin Parikh

    Ajay Relan, Udayan Banerjee, Navin Paul

    • 10 Aug 20264 of 4 present2 independent

  • Corporate Social Responsibility Committee

    Chair Kishan Nagin Parikh

    Udayan Banerjee, Ajay Relan

    • 10 Aug 20263 of 3 present1 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.

  • S. R. Dinodia & Co. LLPPeer-review certificate valid to Sep 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.

Sharda Motor 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.Sharda Motor Industries dividend history

Annual general meeting, 24 Sep 2026

40,775 shareholders on the register on 18 Sep 2026; present: 3 promoters and 126 others; votes counted by CS Vineet K Chaudhary / VKC & Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statement of the Company for the financial year ended March 31, 2026 along with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  2. To consider and adopt the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  3. To declare a final dividend for the financial year 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  4. To re-appoint Shri Kishan N Parikh (DIN: 00453209), who retires by rotation, being eligible and offers himself for re-appointment as Director of the Company.
    Ordinary
    99.53% for0.47% against

    Against: promoters 0.00% · institutions 2.71% · other public 0.18%

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  5. To re-appoint Shri Ajay Relan as a Whole Time Director, designated as `Executive Chairperson` of the Company.
    OrdinaryPromoters have an interest in it
    95.86% for4.14% against

    Against: promoters 0.00% · institutions 23.76% · other public 0.18%

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  6. To consider and approve the payment of remuneration to be paid to Shri Ajay Relan, Whole Time Director and Promoter of the Company in excess of threshold limits
    SpecialPromoters have an interest in it
    95.80% for4.20% against

    Against: promoters 0.00% · institutions 24.11% · other public 0.18%

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  7. Payment of Remuneration by way of commission to Shri Navin Paul, Non-Executive Independent Director Company
    Special
    99.57% for0.43% against

    Against: promoters 0.00% · institutions 2.46% · other public 0.18%

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

  8. To ratify the Remuneration to be paid to Gurdeep Singh and Associate, Cost Auditors of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 78.17% · promoters 98.56% · institutions 96.09% · other public 5.49%

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, 18 Sep 2025, 7 resolutions

39,351 shareholders on the register on 12 Sep 2025; present: 4 promoters and 129 others; votes counted by Vineet Kumar Chaudhary / VKC and Associates.The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statements of the company for the financial year ended March 31, 2025 along with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 77.09% · promoters 98.56% · institutions 92.26% · other public 3.80%

  2. To consider and adopt the audited consolidated financial statements of the company for the financial year ended March 31, 2025 and the report of Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 77.09% · promoters 98.56% · institutions 92.26% · other public 3.80%

  3. To declare the final dividend for the financial year 2024-25.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 0.02%

    Turnout: all 77.09% · promoters 98.56% · institutions 92.26% · other public 3.80%

  4. To re-appoint Shri Nitin Vishnoi (DIN: 08538925), Director, who retires by rotation, being eligible and offers himself for re-appointment as Director of the company.
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.55% · other public 0.02%

    Turnout: all 77.09% · promoters 98.56% · institutions 92.26% · other public 3.80%

  5. To appoint VKC and Associates, Company Secretaries, (Unique Code P2018DE077000) as secretarial auditors of the company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 77.09% · promoters 98.56% · institutions 92.26% · other public 3.80%

  6. To ratify the remuneration to be paid to Gurdeep Singh and Associates, cost auditors of the company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.09% · promoters 98.56% · institutions 92.26% · other public 3.80%

  7. Payment of commission to the non-executive directors of the company
    Special
    99.53% for0.47% against

    Against: promoters 0.00% · institutions 3.29% · other public 0.06%

    Turnout: all 74.81% · promoters 98.56% · institutions 75.94% · other public 3.80%

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, 25 Jun 2025, 3 resolutions

34,654 shareholders on the register on 23 May 2025; votes counted by Vineet Kumar Chaudhary / VKC & Aasociates.The company's voting result (opens in a new tab)

  1. Re-Appointment of Mrs. Sarita Dhuper (DIN: 08776286) as Non-Executive Independent Director of the Company
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.12% · other public 0.03%

    Turnout: all 78.01% · promoters 98.56% · institutions 95.34% · other public 5.83%

  2. PAYMENT OF COMMISSION TO THE NON-EXECUTIVE DIRECTORS OF THE COMPANY
    Special
    94.17% for5.83% against

    Against: promoters 0.00% · institutions 34.04% · other public 0.13%

    Turnout: all 78.01% · promoters 98.56% · institutions 95.34% · other public 5.83%

  3. ISSUE OF BONUS EQUITY SHARES TO THE SHAREHOLDERS OF THE COMPANY
    Ordinary
    99.38% for0.62% against

    Against: promoters 0.00% · institutions 3.64% · other public 0.00%

    Turnout: all 78.01% · promoters 98.56% · institutions 95.34% · other public 5.83%

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, 26 Sep 2024, 8 resolutions

Present: 3 promoters and 108 others.The company's voting result (opens in a new tab)

  1. 1a. To consider and adopt the audited standalone financial statement of the company for the financial year ended March 31, 2024 along with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  2. 1b. To consider and adopt the audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and the report of Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  3. To declare a final dividend for the financial year 2023-24.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  4. To retire Smt. Sharda Relan (DIN:00252181) by rotation, who does not seek re-election.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  5. To re-appoint Shri Nitin Vishnoi (DIN: 08538925) as a Whole Time Director of the Company.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.07% · other public 0.03%

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  6. To appoint Shri Navin Paul (DIN: 00424944) as Non-Executive Independent Director of the company.
    Special
    99.27% for0.73% against

    Against: promoters 0.00% · institutions 4.38% · other public 0.03%

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  7. To appoint Shri Kishan N Parikh (DIN: 00453209) as Non-Executive Director of the company.
    Ordinary
    98.98% for1.02% against

    Against: promoters 0.00% · institutions 6.18% · other public 0.03%

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

  8. Ratification of Cost Auditor Remuneration.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.42% · promoters 98.56% · institutions 93.15% · other public 5.54%

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, 24 May 2024, 1 resolution

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

  1. Approval for Buyback of Equity Shares of the Company
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 15.60% · other public 0.09%

    Turnout: all 73.80% · promoters 98.78% · institutions 12.98% · other public 4.94%

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, 26 Sep 2023, 5 resolutions

Present: 2 promoters and 107 others.The company's voting result (opens in a new tab)

  1. 1a. To consider and adopt n the audited standalone financial statement of the Company for the financial year ended 31st March, 2023 along 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 0.00%

    Turnout: all 73.75% · promoters 98.78% · institutions 9.88% · other public 5.01%

  2. 1b. To consider and adopt n the audited consolidated financial statement of the Company for the financial year ended 31st March, 2023 and the report of Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.75% · promoters 98.78% · institutions 9.88% · other public 5.01%

  3. 2. To re-appoint Shri Nitin Vishnoi (DIN: 08538925), who retires by rotation and being eligible offers himself for re-appointment as Director of the Company.
    Ordinary
    99.74% for0.26% against

    Against: promoters 0.00% · institutions 95.37% · other public 0.03%

    Turnout: all 73.75% · promoters 98.78% · institutions 9.88% · other public 5.01%

  4. 3. To declare a final dividend for the financial year 2022-23.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.75% · promoters 98.78% · institutions 9.88% · other public 5.01%

  5. 4. Ratification of Cost Auditor Remuneration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 73.75% · promoters 98.78% · institutions 9.88% · other public 5.01%

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, 29 Dec 2022, 1 resolution

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

  1. Re classification from Promoters/Members of Promoter Group category to public category of the Company
    OrdinaryPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 17.29% · promoters 18.96% · institutions 23.25% · other public 12.34%

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, 20 Sep 2022, 6 resolutions

Present: 3 promoters and 120 others.The company's voting result (opens in a new tab)

  1. 1a. To consider and adopt the audited standalone financial statement of the Company for the financial year ended March 31, 2022 and the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.98% · promoters 98.78% · institutions 32.87% · other public 5.40%

  2. 1b. To consider and adopt the audited consolidated financial statement of the Company for the financial year ended March 31, 2022 and the report of Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.98% · promoters 98.78% · institutions 32.87% · other public 5.40%

  3. 2. To re appoint Smt. Sharda Relan (DIN: 00252181), who retires by rotation, being eligible and offers herself for re-appointment as Director of the Company.
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 7.79% · other public 0.00%

    Turnout: all 74.00% · promoters 98.78% · institutions 35.15% · other public 5.40%

  4. 3. To declare a final dividend for the financial year 2021-22.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.00% · promoters 98.78% · institutions 35.15% · other public 5.40%

  5. 4. To appoint M/s. S.R. DINODIA and Co. LLP, Chartered Accountants as statutory auditors of the Company and to fix their remuneration.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.00% · promoters 98.78% · institutions 35.15% · other public 5.40%

  6. 5. To ratify the Remuneration to be paid to M/s. Gurdeep Singh and Associates, Cost Auditors of the Company.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 74.00% · promoters 98.78% · institutions 35.15% · other public 5.40%

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 24 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To consider and adopt the audited standalone financial statement of the Company for the financial year ended March 31, 2026 along with the reports of the Board of Directors and Auditors thereon.
    2 for0 against
  • To consider and adopt the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of Auditors thereon.
    2 for0 against
  • To declare a final dividend for the financial year 2025-26.
    2 for0 against
  • To re-appoint Shri Kishan N Parikh (DIN: 00453209), who retires by rotation, being eligible and offers himself for re-appointment as Director of the Company.
    2 for0 against
  • To re-appoint Shri Ajay Relan as a Whole Time Director, designated as `Executive Chairperson` of the Company.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted in view of the following concerns in the executive's remuneration: There is a lack of an absolute or relative cap on the performance pay element which makes the proposed remuneration structure open ended and may lead to discretionary payouts. The estimated pay of the executive is deemed to be aggressively positioned compared to executives in peer companies with similar size and scale of company's operations.
    1 for1 against
  • To consider and approve the payment of remuneration to be paid to Shri Ajay Relan, Whole Time Director and Promoter of the Company in excess of threshold limits
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted in view of the following concerns in the executive's remuneration: There is a lack of an absolute or relative cap on the performance pay element which makes the proposed remuneration structure open ended and may lead to discretionary payouts. The estimated pay of the executive is deemed to be aggressively positioned compared to executives in peer companies with similar size and scale of company's operations.
    1 for1 against
  • Payment of Remuneration by way of commission to Shri Navin Paul, Non-Executive Independent Director Company
    2 for0 against
  • To ratify the Remuneration to be paid to Gurdeep Singh and Associate, Cost Auditors of the Company.
    2 for0 against

Mutual fund votes, meeting of 18 Sep 2025, 7 fund houses

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

  • To consider and adopt the audited standalone financial statements of the company for the financial year ended March 31, 2025 along with the reports of the Board of Directors and Auditors thereon.
    6 for0 against
  • To consider and adopt the audited consolidated financial statements of the company for the financial year ended March 31, 2025 and the report of Auditors thereon.
    4 for0 against
  • To declare the final dividend for the financial year 2024-25.
    7 for0 against
  • To re-appoint Shri Nitin Vishnoi (DIN: 08538925), Director, who retires by rotation, being eligible and offers himself for re-appointment as Director of the company.
    7 for0 against
  • To appoint VKC and Associates, Company Secretaries, (Unique Code P2018DE077000) as secretarial auditors of the company
    7 for0 against
  • To ratify the remuneration to be paid to Gurdeep Singh and Associates, cost auditors of the company
    7 for0 against
  • Payment of commission to the non-executive directors of the company
    Against Motilal Oswal Mutual Fund, PGIM India Mutual Fund
    • Motilal Oswal Mutual Fund, PGIM India Mutual FundCompliant with law. Governance concern: Concerns related to Original approval still not addressed (No absolute cap on proposed payment of commission, board discretion to distribute commission and no justification for payment of profit related commission to selected director).
    5 for2 against
1 proposal not matched to one resolution
  • Accept Financial Statements and Statutory Reports
    1 for0 against
3 earlier meetings

Mutual fund votes, meeting of 25 Jun 2025, 6 fund houses

  • Re-Appointment of Mrs. Sarita Dhuper (DIN: 08776286) as Non-Executive Independent Director of the Company
    6 for0 against
  • PAYMENT OF COMMISSION TO THE NON-EXECUTIVE DIRECTORS OF THE COMPANY
    Against Axis Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund
    • Axis Mutual FundThe company seeks shareholders’ approval to pay commission of upto 1% of the net profits of the company to the non-executive directors and to pay Navin Paul by way of profit related commission or otherwise of an amount not exceeding Rs. 2.0 mn for his professional services for FY26, which will be in excess of 50% of aggregate commission to NEDs. The company must clarify the nature of these professional services and reclassify Navin Paul as Non-Executive Non-Independent Director, given this business relationship. The company has not defined a tenure for payment of commission and the resolution is effectively valid for perpetuity. We believe shareholders must get a chance to periodically approve such payments. Further, the company must consider capping the commission in absolute terms. We also expect the company to disclose the effective date of the proposed approval. We do not support the resolution.
    • Nippon India Mutual FundNo absolute cap on proposed payment of commission.
    • PGIM India Mutual FundNo absolute cap on the proposed commission. Board discretion to distribute the commission; perpetual approval; No justification for payment of commission to selected ID.
    3 for3 against
  • ISSUE OF BONUS EQUITY SHARES TO THE SHAREHOLDERS OF THE COMPANY
    6 for0 against

Mutual fund votes, meeting of 26 Sep 2024, 10 fund houses

  • 1a. To consider and adopt the audited standalone financial statement of the company for the financial year ended March 31, 2024 along with the reports of the Board of Directors and Auditors thereon.
    10 for0 against
  • 1b. To consider and adopt the audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and the report of Auditors thereon.
    9 for0 against
  • To declare a final dividend for the financial year 2023-24.
    10 for0 against
  • To retire Smt. Sharda Relan (DIN:00252181) by rotation, who does not seek re-election.
    10 for0 against
  • To re-appoint Shri Nitin Vishnoi (DIN: 08538925) as a Whole Time Director of the Company.
    10 for0 against
  • To appoint Shri Navin Paul (DIN: 00424944) as Non-Executive Independent Director of the company.
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, PGIM India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, PGIM India Mutual FundAppointment Compliant with law. No concern identified over the merits of appointee. Governance Concern: Holds Chairmanship in both AC & NRC Committee.
    • Edelweiss Mutual FundHolds Chairmanship in both AC & NRC Committee.
    6 for4 against
  • To appoint Shri Kishan N Parikh (DIN: 00453209) as Non-Executive Director of the company.
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, PGIM India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, PGIM India Mutual FundAppointment compliant with law. No concern identified over the merits of appointee. Governance concern: Cooling off period of 1 year not served after completion of term as ID, appointment as NED raises question over his independence as ID
    • Edelweiss Mutual FundCooling off period of 1 year not served after completion of term as ID, appointment as NED raises question over his independence as ID
    6 for4 against
  • Ratification of Cost Auditor Remuneration.
    10 for0 against

Mutual fund votes, meeting of 24 May 2024, 2 fund houses

  • Approval for Buyback of Equity Shares of the Company
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Exact number of Share to be tendered by promoters is not disclosed.
    0 for2 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyOffice of the Commissioner of GST and Central Excise (Appeal - II)Since 12 Sep 2026

    Order has been passed by the Chennai GST Appellate Authority. The details of the disputed amount are as follows: Disputed Tax Amount: 31,34,483/- Penalty: 3,32,754/-

    The GST Department alleged excess/ineligible availment of ITC due to unreconciled ITC differences between GSTR-3B and GSTR-2A and ITC claimed on invoices of suppliers whose GST registrations were retrospectively cancelledMoreLess
  • Fine or penaltyDepartment of Trade and Taxes, Government of NCT of DelhiSince 30 Jul 2026

    Received a DRC-01 notice Tax Rs. 18,92,458 Interest Rs. 13,03,774 Penalty Rs. 1,89,245 Total Rs.33,85,477

    Alledged excess Input Tax Credit (ITC) claimed and mismatch of ITC
  • Tax disputeIncome Tax Department, Office of the Assistant Commissioner of Income Tax, Central Circle 19, DelhiSince 9 Jul 2024
    The CIT(A) has disposed off our Appeal for the AY for the AY 2022-23 vide order dated 27-03-2026 giving substantial relief. Consequent to the order of CIT(A), the company has taken up the matter before the Assessing officer to pass the appeal effect order in line with the order u/s 250 passed by the CIT(A). In the opinion of the management, the income tax demand will get reduced to Rs 5.22 Lakhs. The company has filed Appeals before ITAT to get further relief against the remaining demand of Rs 5.22 Lakhs.MoreLess
  • Tax disputeIncome Tax Department, Office of the Deputy Commissioner of Income Tax, Central Circle 19, DelhiSince 21 Mar 2025
    The CIT(A) has disposed off our Appeal for the AY 2018-19 to 2021-22, 2023-24 and 2024-25 vide order dated 23-02-2026 giving substantial relief. Consequent to the order of CIT(A), the company has taken up the matter before the Assessing officer to pass the appeal effect order in line with the order u/s 250 passed by the CIT(A). In the opinion of the management, the income tax demand will get reduced to Rs 6.16 Crore. The company has filed Appeals before ITAT to get further relief against the remaining demand of Rs 6.11 Crore.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

None open at any 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
No
The filing has a part on fines and penalties
Yes
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.