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Shilpa Medicare MD, chairman, board of directors and AGM

NSE: SHILPAMEDBSE: 530549Pharmaceuticals & BiotechnologySmall Cap

Last close ₹864.30up ₹3.50 (0.41%)BSE ₹862.80

Share price at the NSE close on 23 Oct 2026. Previous close ₹860.80.

52-week range of traded prices to 23 Oct 2026
₹259.50Low, 27 Jan 2026₹1,095.00High, 1 Oct 2026
Market cap
₹16,904 Cr637th largest listed
P/E
56.9
P/E without one-offs
63.4
P/B
6.5
Dividend yield
0.07%
ROE
12.0%
ROE without one-offs
10.8%
ROCE
10.9%
Debt to equity
0.25
Volume, NSE
9,55,72541.8% delivered

Shilpa Medicare 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

  • ChairpersonOM PRAKASH INNANIRelated to the promoter
  • Managing directorVISHNUKANT CHATURBHUJ BHUTADA
  • Company Secretary and Compliance OfficerRitu Tiwary

6 directors3 independent2 executive1 non-executive

  • OM PRAKASH INNANI · ChairpersonNon-executive · joined Mar 1988 · reappointed Sep 2025 · 1 listed board
  • VISHNUKANT CHATURBHUJ BHUTADA · Managing directorExecutive · joined Nov 1987 · reappointed Sep 2024 · 1 listed board
  • SHARATH REDDY KALAKOTAExecutive · joined Oct 2019 · reappointed Sep 2025 · 1 listed board
  • HETAL MADHUKANT GANDHIIndependent · joined Sep 2021 · reappointed Sep 2024 · 57 months as independent · 6 listed boards · 5 as independent · 2 committee seats, 2 as chair
  • ANITA BANDYOPADHYAYIndependent · joined Sep 2022 · reappointed Sep 2025 · 45 months as independent · 3 listed boards · 3 as independent · 1 committee seat, 1 as chair
  • ASHRAF LOUTFY ABDELHAMID ALLAMIndependent · joined Aug 2025 · reappointed Sep 2025 · 10 months as independent · 1 listed board · 1 as independent · 1 committee seat

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
  • KAMAL KISHORE SHARMA, left 23 Sep 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 22 May 20265 of 6 present2 independent · 104 days in between
    • 6 Feb 20266 of 6 present3 independent

  • Audit Committee

    Chair HETAL MADHUKANT GANDHI

    OM PRAKASH INNANI, ANITA BANDYOPADHYAY, ASHRAF LOUTFY ABDELHAMID ALLAM

    • 22 May 20263 of 4 present2 independent · 104 days in between
    • 6 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair ANITA BANDYOPADHYAY

    OM PRAKASH INNANI, HETAL MADHUKANT GANDHI

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair OM PRAKASH INNANI

    VISHNUKANT CHATURBHUJ BHUTADA, ANITA BANDYOPADHYAY

    No meeting listed in the filing.

  • Risk Management Committee

    Chair SHARATH REDDY KALAKOTA

    VISHNUKANT CHATURBHUJ BHUTADA, ASHRAF LOUTFY ABDELHAMID ALLAM

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair ANITA BANDYOPADHYAY

    VISHNUKANT CHATURBHUJ BHUTADA, SHARATH REDDY KALAKOTA

    No meeting listed in the filing.

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.

  • BNPS AND ASSOCIATES 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.

Shilpa Medicare 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.Shilpa Medicare dividend history

Annual general meeting, 11 Sep 2026

80,572 shareholders on the register on 4 Sep 2026; present: 19 promoters and 29 others; votes counted by Santosh Kumar Gunemoni / VCAN & Associates.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 31 March 2026, together with the report of Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.60% · promoters 100.00% · institutions 69.30% · other public 9.19%

  2. To declare final dividend of Rs. 0.60/- per equity shares for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.70% · promoters 100.00% · institutions 69.79% · other public 9.19%

  3. To appoint a Director in place of Mr. Sharath Reddy Kalakota (DIN:03603460), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.38% for0.62% against

    Against: promoters 0.00% · institutions 2.59% · other public 0.00%

    Turnout: all 57.70% · promoters 100.00% · institutions 69.79% · other public 9.19%

  4. Ratification of remuneration of Cost Auditors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.70% · promoters 100.00% · institutions 69.79% · other public 9.19%

  5. Payment of Commission to Mr. Madhav Vishnukant Bhutada (DIN No: 08222055), Non- Executive Director of Shilpa Biologicals Private Limited, a Material Subsidiary.
    OrdinaryPromoters have an interest in it
    88.80% for11.20% against

    Against: promoters 0.00% · institutions 33.37% · other public 0.03%

    Turnout: all 41.41% · promoters 59.41% · institutions 69.79% · other public 9.19%

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, 1 resolution

53,586 shareholders on the register on 15 May 2026; votes counted by Santhosh Kumar Gunemoni / VCAN & Associates.The company's voting result (opens in a new tab)

  1. Shifting of Registered Office of The Company from One State to Another State and To Alter the Situation Clause of the Memorandum of Association.
    Special
    100.00% for0.00% against

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

    Turnout: all 54.87% · promoters 99.61% · institutions 69.10% · other public 2.69%

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, 8 Nov 2025, 2 resolutions

52,546 shareholders on the register on 3 Oct 2025; votes counted by Santosh Kumar Gunemoni / VCAN & Associates.The company's voting result (opens in a new tab)

  1. Reclassification of Mr. Suraj Kumar Inani, a member of Promoter group from “Promoter group” category to “Public” category
    Ordinary
    97.16% for2.84% against

    Against: promoters 0.00% · institutions 11.86% · other public 0.06%

    Turnout: all 51.22% · promoters 80.38% · institutions 66.02% · other public 9.18%

  2. Reclassification of Ms. Priya Inani, a member of Promoter group from “Promoter group” category to “Public” category.
    Ordinary
    97.16% for2.84% against

    Against: promoters 0.00% · institutions 11.86% · other public 0.06%

    Turnout: all 51.22% · promoters 80.38% · institutions 66.02% · other public 9.18%

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, 23 Sep 2025, 10 resolutions

51,999 shareholders on the register on 17 Sep 2025; present: 46 promoters and 86 others; votes counted by Santosh Kumar Gunemoni / VCAN & Associates.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 31 March 2025, together with the report of board of directors and auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.49% · promoters 90.75% · institutions 65.06% · other public 8.81%

  2. To declare dividend of 1.00/- per equity shares for the financial year ended 31 March 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  3. To appoint a Director in place of Mr. Omprakash Inani (DIN:08189713) who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.72% for0.28% against

    Against: promoters 0.00% · institutions 1.29% · other public 0.02%

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  4. Ratification of remuneration of Cost Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  5. Re-appointment of Mr. Sharath Reddy Kalakota (DIN: 03603460) as a Whole Time Director of the Company.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.23% · other public 0.02%

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  6. Re-Appointment of Dr. Anita Bandyopadhyay (DIN:08672071), as a Women Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  7. Appointment of Mr. Ashraf Loutfy Abdelhamid Allam (DIN: 11192531), as an Independent Director of the Company
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.41% · other public 0.03%

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  8. Revision in remuneration of Mr. Keshav Bhutada (DIN: 08222057) as Executive Director & CEO in Shilpa Pharma Lifesciences Ltd., a material subsidiary w.e.f 24th May 2024
    SpecialPromoters have an interest in it
    99.33% for0.67% against

    Against: promoters 0.00% · institutions 2.02% · other public 0.07%

    Turnout: all 37.17% · promoters 49.29% · institutions 65.18% · other public 8.81%

  9. To consider appointment of Mr. D S Rao, Practicing Company Secretary, as Secretarial Auditor of the Company for a period of five years from the ensuing AGM
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

  10. Issue of Bonus Shares
    Ordinary
    98.89% for1.11% against

    Against: promoters 0.00% · institutions 5.07% · other public 0.02%

    Turnout: all 55.51% · promoters 90.75% · institutions 65.18% · other public 8.81%

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, 17 Sep 2024, 9 resolutions

Present: 23 promoters and 44 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 31 March 2024, together with the report of board of directors and auditors thereon.nMoreLess
    Ordinary
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 1.05% · other public 0.00%

    Turnout: all 52.12% · promoters 90.54% · institutions 62.20% · other public 2.82%

  2. To appoint a Director in place of Mr. Omprakash Inani (DIN No.08189713) who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.43% for0.57% against

    Against: promoters 0.00% · institutions 2.28% · other public 0.00%

    Turnout: all 43.52% · promoters 71.08% · institutions 62.35% · other public 2.82%

  3. Ratification of remuneration of Cost Auditors.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 52.15% · promoters 90.54% · institutions 62.35% · other public 2.82%

  4. Reappointment of Mr. Hetal Madhukant Gandhi (DIN: 00106895) as an Independent Director of the Company.
    Special
    90.07% for9.93% against

    Against: promoters 0.00% · institutions 47.35% · other public 0.00%

    Turnout: all 52.15% · promoters 90.54% · institutions 62.35% · other public 2.82%

  5. Reappointment of Mr. Vishnukant Chaturbhuj Bhutada (DIN: 01243391) as Managing Director of Shilpa Medicare Limited and Shilpa Pharma Lifesciences Limited, a Material Subsidiary
    SpecialPromoters have an interest in it
    88.16% for11.84% against

    Against: promoters 0.00% · institutions 36.60% · other public 0.00%

    Turnout: all 33.81% · promoters 49.17% · institutions 62.35% · other public 2.82%

  6. Re-designation of Mr Keshav Bhutada as Executive Director in Shilpa Pharma Lifesciences Ltd w.e.f 19th June 2024.
    SpecialPromoters have an interest in it
    94.44% for5.56% against

    Against: promoters 0.00% · institutions 17.19% · other public 0.00%

    Turnout: all 33.81% · promoters 49.17% · institutions 62.35% · other public 2.82%

  7. Reappointment of Mr. Madhav Bhutada (Din no: 08222055), as Managing Director, Shilpa Biocare Private Limited.
    SpecialPromoters have an interest in it
    94.44% for5.56% against

    Against: promoters 0.00% · institutions 17.19% · other public 0.00%

    Turnout: all 33.81% · promoters 49.17% · institutions 62.35% · other public 2.82%

  8. Payment of Remuneration/Commission to Non-Executive Directors
    Special
    96.30% for3.70% against

    Against: promoters 0.00% · institutions 17.19% · other public 4.40%

    Turnout: all 52.15% · promoters 90.54% · institutions 62.35% · other public 2.82%

  9. Payment of Remuneration to Hetal Madhukant Gandhi, Independent Director in excess of payment made to all other Non-Executive Directors.
    Special
    89.47% for10.53% against

    Against: promoters 0.00% · institutions 50.19% · other public 0.31%

    Turnout: all 52.15% · promoters 90.54% · institutions 62.35% · other public 2.82%

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, 13 Mar 2024, 1 resolution

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

  1. To approve issue of securities of the company by way of Qualified Institutions Placement (QIP).
    Special
    99.45% for0.55% against

    Against: promoters 0.00% · institutions 10.98% · other public 2.25%

    Turnout: all 49.44% · promoters 90.41% · institutions 20.62% · 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.

Postal ballot, 5 Feb 2024, 2 resolutions

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

  1. Reclassification of Mr. Suraj Innani from Promoter group category to Public Category
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 10.00% · other public 8.26%

    Turnout: all 40.66% · promoters 80.08% · institutions 6.60% · other public 0.12%

  2. Reclassification of Ms. Priya Innani from Promoter group category to Public Category
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 10.00% · other public 8.26%

    Turnout: all 40.66% · promoters 80.08% · institutions 6.60% · other public 0.12%

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, 29 Sep 2023, 3 resolutions

Present: 15 promoters and 47 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 31 March 2023 and reports of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 47.85% · promoters 90.41% · institutions 9.70% · other public 4.29%

  2. To appoint a Director in place of Mr. Om Prakash Inani (DIN No.08189713) who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 7.00% · other public 0.20%

    Turnout: all 47.87% · promoters 90.41% · institutions 9.98% · other public 4.29%

  3. Ratification of remuneration of Cost Auditors
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 47.87% · promoters 90.41% · institutions 9.98% · other public 4.29%

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 11 Sep 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 of the company for the financial year ended 31 March 2026, together with the report of Board of Directors and Auditors thereonMoreLess
    3 for0 against
  • To declare final dividend of Rs. 0.60/- per equity shares for the financial year ended March 31, 2026.
    3 for0 against
  • To appoint a Director in place of Mr. Sharath Reddy Kalakota (DIN:03603460), who retires by rotation and being eligible, offers himself for re-appointment.
    3 for0 against
  • Ratification of remuneration of Cost Auditors.
    3 for0 against
  • Payment of Commission to Mr. Madhav Vishnukant Bhutada (DIN No: 08222055), Non- Executive Director of Shilpa Biologicals Private Limited, a Material Subsidiary.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern & Transparency: No absolute cap on the proposed commission.
    2 for1 against

Mutual fund votes, meeting of 22 Jun 2026, 10 fund houses

  • Shifting of Registered Office of The Company from One State to Another State and To Alter the Situation Clause of the Memorandum of Association.
    10 for0 against
6 earlier meetings

Mutual fund votes, meeting of 8 Nov 2025, 9 fund houses

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

  • Reclassification of Mr. Suraj Kumar Inani, a member of Promoter group from “Promoter group” category to “Public” category
    1 for0 against
  • Reclassification of Ms. Priya Inani, a member of Promoter group from “Promoter group” category to “Public” category.
    1 for0 against
2 proposals not matched to one resolution
  • To reclassify Mr. Suraj Kumar Inani S/o Mr. Kamal Kishore Inani, R/o Flat No 902, 9th floor, Block B, Tower 2, NCC Urban Gardenia, VTC Gachibowli, Sub District Serilingampally, Dist. K. V Rangareddy, Telangana - 500 032, holding 78,41,390 no of equity shares (4.01% of the total shareholding of the Company) from Promoter Group category to Public category.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Immediate relative of promoters continuing in the promoter category. Transparency Concern: Lack of clarity regarding whether persons related to the outgoing promoters have complied with the re-classification conditions.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundGovernance Concern: Immediate relative of promoters continuing in the promoter category. Transparency Concern: Lack of clarity regarding whether persons related to the outgoing promoters have complied with the SEBI LODR conditions
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    3 for5 against
  • To reclassify Ms. Priya Inani W/o Mr. Suraj Kumar Inani R/o Flat No 902, 9th floor, Block B, Tower 2, NCC Urban Gardenia, VTC Gachibowli, Sub District : Serilingampally, Dist. K. V Rangareddy, Telangana - 500 032, holding 1,61,392 no of equity shares (0.08% of the total shareholding of the Company) from Promoter Group category to Public category.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundTransparency Concern: Lack of clarity regarding whether persons related to the outgoing promoters have complied with the re-classification conditions.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundTransparency Concern: Lack of clarity regarding whether persons related to the outgoing promoters have complied with the SEBI LODR conditions.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    3 for5 against

Mutual fund votes, meeting of 23 Sep 2025, 10 fund houses

  • To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended 31 March 2025, together with the report of board of directors and auditors thereon.MoreLess
    10 for0 against
  • To declare dividend of 1.00/- per equity shares for the financial year ended 31 March 2025
    10 for0 against
  • To appoint a Director in place of Mr. Omprakash Inani (DIN:08189713) who retires by rotation and being eligible, offers himself for re-appointment
    10 for0 against
  • Ratification of remuneration of Cost Auditors
    10 for0 against
  • Re-appointment of Mr. Sharath Reddy Kalakota (DIN: 03603460) as a Whole Time Director of the Company.
    10 for0 against
  • Re-Appointment of Dr. Anita Bandyopadhyay (DIN:08672071), as a Women Independent Director of the Company
    10 for0 against
  • Appointment of Mr. Ashraf Loutfy Abdelhamid Allam (DIN: 11192531), as an Independent Director of the Company
    10 for0 against
  • Revision in remuneration of Mr. Keshav Bhutada (DIN: 08222057) as Executive Director & CEO in Shilpa Pharma Lifesciences Ltd., a material subsidiary w.e.f 24th May 2024
    Against Angel One Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration. No justification for employing relatives in such positions.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration. No justification for employing relatives in such positions.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    6 for4 against
  • To consider appointment of Mr. D S Rao, Practicing Company Secretary, as Secretarial Auditor of the Company for a period of five years from the ensuing AGM
    10 for0 against
  • Issue of Bonus Shares
    10 for0 against

Mutual fund votes, meeting of 17 Sep 2024, 6 fund houses

  • To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended 31 March 2024, together with the report of board of directors and auditors thereon.nMoreLess
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified financial statements. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed the financials of its subsidiaries for FY 2023-24 on its website.
    4 for2 against
  • To appoint a Director in place of Mr. Omprakash Inani (DIN No.08189713) who retires by rotation and being eligible, offers himself for re-appointment.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Board non-compliant w.r.t section 152.
    4 for2 against
  • Ratification of remuneration of Cost Auditors.
    6 for0 against
  • Reappointment of Mr. Hetal Madhukant Gandhi (DIN: 00106895) as an Independent Director of the Company.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Excessive time commitment. Uncertain term of appointment, can potentially exceed 5 years.
    3 for3 against
  • Reappointment of Mr. Vishnukant Chaturbhuj Bhutada (DIN: 01243391) as Managing Director of Shilpa Medicare Limited and Shilpa Pharma Lifesciences Limited, a Material Subsidiary
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with the law. Governance concerns: Skewed and excessive remuneration. The board is non-compliant w.r.t section 152.
    3 for3 against
  • Re-designation of Mr Keshav Bhutada as Executive Director in Shilpa Pharma Lifesciences Ltd w.e.f 19th June 2024.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliance with Companies Act, 2013: Prior shareholders’ approval not obtained. Governance concern: Skewed remuneration practice. No justification for employing relatives in such positions.
    3 for3 against
  • Reappointment of Mr. Madhav Bhutada (Din no: 08222055), as Managing Director, Shilpa Biocare Private Limited.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration practice. No justification for employing relatives in such positions
    3 for3 against
  • Payment of Remuneration/Commission to Non-Executive Directors
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration practice.
    3 for3 against
  • Payment of Remuneration to Hetal Madhukant Gandhi, Independent Director in excess of payment made to all other Non-Executive Directors.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: the Board has Fixed remuneration for Mr. Hetal Madhukant Gandhi ID, Remuneration proposed to be paid significantly higher than other NEDs. No justification provided for excessive remuneration and why only Mr. Hetal Madhukant Gandhi.
    3 for3 against

Mutual fund votes, meeting of 13 Mar 2024, 3 fund houses

  • To approve issue of securities of the company by way of Qualified Institutions Placement (QIP).
    3 for0 against

Mutual fund votes, meeting of 5 Feb 2024, 2 fund houses

  • Reclassification of Mr. Suraj Innani from Promoter group category to Public Category
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Immediate relative of promoters continuing in the promoter category. Lack of clarity regarding whether persons related to the outgoing promoters have complied with the SEBI LODR conditions
    0 for2 against
  • Reclassification of Ms. Priya Innani from Promoter group category to Public Category
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Immediate relative of promoters continuing in the promoter category. Lack of clarity regarding whether persons related to the outgoing promoters have complied with the SEBI LODR conditions
    0 for2 against

Mutual fund votes, meeting of 29 Sep 2023, 1 fund house

  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended 31 March 2023 and reports of Directors and Auditors thereon
    1 for0 against
  • To appoint a Director in place of Mr. Om Prakash Inani (DIN No.08189713) who retires by rotation and being eligible, offers himself for re-appointment
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance concern: Board non-compliant w.r.t sec 152.
    0 for1 against
  • Ratification of remuneration of Cost Auditors
    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 Jun 2026.

  • Tax disputeOffiice of the Commissioner of Commercial taxes (Enforsment ) BangaloreSince 13 Dec 2024
    The appeal filed by the Company against the demand raised by the department has been allowed and the same has been disposed -off. Order received in favour of the Company
    At the filing before: The Company has prefered Appeal againt the order passed by Asst. Commissioner of Commercial taxes - Audit -3 Kalaburgi before the Honarable "Joint Commissioner of Commercial Tax (Appeal ) Kalaburgi Division - Kulbargi -Awaiting personal hearingMoreLess

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
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.