Shivalik Rasayan MD, chairman, board of directors and AGM
NSE: SHIVALIKBSE: 539148Fertilizers & AgrochemicalsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹318.50.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹491 Cr1,927th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 14 Aug 2026
- 35.9
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 27 May 2026
- 0.8
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.16%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 14 Aug 2026
- 2.4%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 14 Aug 2026
- 3.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 27 May 2026
- 0.19
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,21,29550.4% delivered
Shivalik Rasayan 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
- ChairpersonRahul Bishnoi
- Managing directorVimal Kumar Shrawat
- Company Secretary and Compliance OfficerParul Choudhary
10 directors6 independent3 executive1 non-executive
- Rahul Bishnoi · ChairpersonExecutive · joined Feb 2002 · 2 listed boards
- Suresh Kumar SinghExecutive · joined Dec 1997 · reappointed Sep 2019 · 2 listed boards
- Ashwani Kumar SharmaNon-executive · joined Jul 2003 · reappointed Sep 2025 · 2 listed boards
- Vimal Kumar Shrawat · Managing directorExecutive · joined Nov 2018 · reappointed Sep 2019 · 2 listed boards
- Sumita DwivediIndependent · joined Nov 2018 · reappointed Sep 2023 · 60 months as independent · 2 listed boards · 2 as independent · 2 committee seats
- Sangeeta BishnoiIndependent · joined Feb 2019 · reappointed Sep 2023 · 60 months as independent · 2 listed boards · 2 as independent
- Ravi Kumar BansalIndependent · joined Aug 2019 · reappointed Sep 2024 · 60 months as independent · 2 listed boards · 2 as independent
- Ramit MadanIndependent · joined Aug 2024 · reappointed Sep 2024 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats
- Shaival SaurabhIndependent · joined Aug 2024 · reappointed Sep 2024 · 60 months as independent · 2 listed boards · 2 as independent · 2 committee seats
- Sham GoelIndependent · joined Aug 2024 · reappointed Sep 2024 · 60 months as independent · 2 listed boards · 2 as independent
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
- Sanjay Bansal, left 27 May 2026: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 14 Sep 20266 of 10 present3 independent · 30 days in between
- 14 Aug 20267 of 10 present4 independent · 21 days in between
- 23 Jul 20266 of 10 present3 independent · 14 days in between
- 8 Jul 20265 of 10 present2 independent · 41 days in between
1 earlier meeting
- 27 May 20268 of 11 present3 independent
Audit Committee
Chair Sham Goel
Ramit Madan, Shaival Saurabh
- 14 Sep 20263 of 3 present3 independent · 30 days in between
- 14 Aug 20263 of 3 present3 independent · 64 days in between
- 10 Jun 20263 of 3 present3 independent
Nomination and remuneration committee
Chair Sham Goel
Ramit Madan, Shaival Saurabh
- 14 Aug 20263 of 3 present3 independent · 64 days in between
- 10 Jun 20263 of 3 present3 independent
Stakeholders Relationship Committee
Chair Sham Goel
Ramit Madan, Shaival Saurabh
- 8 Jul 20263 of 3 present3 independent · 27 days in between
- 10 Jun 20263 of 3 present3 independent
Risk Management Committee
Chair Sham Goel
Ramit Madan, Shaival Saurabh
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Suresh Kumar Singh
Sangeeta Bishnoi, Ashwani Kumar Sharma, Sham Goel
- 14 Aug 20264 of 4 present2 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 Rahul Chaudhary & Associates, Chartered AccountantsPeer-review certificate valid to Sep 2026
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.
Shivalik Rasayan 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.Shivalik Rasayan dividend history
Annual general meeting, 28 Sep 2026
15,355 shareholders on the register on 21 Sep 2026; present: 1 promoter and 80 others; votes counted by Manoj Kumar Jain / M/S AMJ & Associates.The company's voting result (opens in a new tab)
To consider and adopt the Audited Financial Statements(Standalone & Consolidated) of the Company for the financial year ended on March 31, 2026 and the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
- To declare Final Dividend on Equity Shares for the financial year 2025-26.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
- To appoint a Director in place of Mr. Suresh Kumar Singh (DIN: 00318015) who retires by rotation and being eligible offers himself for re-appointment.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.06%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
- To appoint a Director in place of Dr. Vimal Kumar Shrawat (DIN: 08274190) who retires by rotation and being eligible offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
- To approve borrowing powers of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
- To approve creation of charge / security on the Company’s assets with respect to borrowingSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
- To Ratify the Remuneration of the Cost Auditors for the Financial Year ending March 31, 2027Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 53.63% · promoters 100.00% · institutions 0.00% · other public 11.96%
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.
Extraordinary general meeting, 20 Aug 2026, 2 resolutions
14,546 shareholders on the register on 21 Jul 2026; present: 1 promoter and 132 others; votes counted by Manoj Kumar Jain / AMJ & Associates.The company's voting result (opens in a new tab)
- Issuance of up to 3,72,000 Equity Shares to the persons/entities belonging to the “Public” category on Preferential basis.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 100.00% · promoters 100.00% · institutions 0.00% · other public 100.00%
- Issuance of up to 9,48,000 Fully Convertible Warrants (“Warrants”) to the persons/entities belonging to the “Promoter and Promoter Group” and “Public” Category on a Preferential basis.SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 100.00% · promoters 100.00% · institutions 0.00% · other public 100.00%
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 Sep 2025, 7 resolutions
14,478 shareholders on the register on 20 Sep 2025; present: 1 promoter and 102 others; votes counted by Manoj Kumar Jain / AMJ & Associates.The company's voting result (opens in a new tab)
To consider and adopt the Audited Financial Statements (Standalone & consolidated) the Company for the financial year ended on March 31, 2025 and the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
- To declare 10% Final Dividend on Equity Shares for the financial year 2024-25Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
- To appoint a Director in place of Mr. Rahul Bishnoi (DIN: 00317960) who retires by rotation and being eligible offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
- To appoint a Director in place of Mr. Ashwani Kumar Sharma (DIN: 00325634) who retires by rotation and being eligible offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
- To consider and approve the re-designation of Mr. Ashwani Kumar Sharma (DIN: 00325634) as a Non-Executive, Non-Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
- To appoint M/s AMJ & Associates, Company Secretaries as Secretarial Auditor of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
- To Ratify the Remuneration of the Cost Auditors for the Financial year ending March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.62% · promoters 100.00% · institutions 0.00% · other public 23.49%
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, 28 Sep 2024, 9 resolutions
Present: 1 promoter and 34 others.The company's voting result (opens in a new tab)
To consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the financial year ended on March 31, 2024 and the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To declare Final Dividend on Equity Shares for the financial year 2023-24.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To appoint a Director in place of Mr. Suresh Kumar Singh (DIN: 00318015) who retires by rotation and being eligible offers himself for re-appointment.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 100.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To appoint a Director in place of Dr. Vimal Kumar Shrawat (DIN: 08274190) who retires by rotation and being eligible offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To re-appoint Dr. Ravi Kumar Bansal (DIN: 08462513) as Non-Executive Independent Director of the Company.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 100.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To Appoint Mr. Ramit Madan (DIN: 08071919) as Non-Executive Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To Appoint Mr. Sham Goel (DIN: 02183287) as Non-Executive Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To Appoint Mr. Shaival Saurabh (DIN: 01971944) as Non-Executive Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
- To Ratify the Remuneration of the Cost Auditors for the Financial Year ending March 31, 2025Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.53% · promoters 100.00% · institutions 0.20% · other public 29.86%
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, 9 resolutions
Present: 1 promoter and 76 others.The company's voting result (opens in a new tab)
To consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the financial year ended on March 31, 2023 and the reports of the Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To declare Final Dividend on Equity Shares for the financial year 2022-23Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To appoint a Director in place of Mr. Sanjay Bansal (DIN:00121667) who retires by rotation and being eligible offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To appoint M/s Rahul Chaudhary & Associates, Chartered Accountants as Statutory Auditor of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To re-appoint Dr. Vimal Kumar Shrawat (DIN: 08274190) as Managing Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To re-appoint Mr. Suresh Kumar Singh (DIN: 00318015) as Vice-Chairman of the CompanySpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To re-appoint Ms. Sangeeta Bishnoi (DIN: 08288998) as Non-Executive Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To re-appoint Ms. Sumita Dwivedi (DIN: 08218640) as Non-Executive Independent Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
- To Ratify the Remuneration of the Cost Auditors for the Financial Year ending March 31, 2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.79% · promoters 100.00% · institutions 0.00% · other public 37.82%
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.
Extraordinary general meeting, 27 Jun 2023, 2 resolutions
Present: 1 promoter and 69 others.The company's voting result (opens in a new tab)
- Issuance of 9,08,000 Equity Shares to the persons belonging to `Non-Promoter Category` on preferential basisOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.04% · promoters 100.00% · institutions 0.00% · other public 36.27%
- Issuance of 1,92,000 Fully Convertible Warrants to the persons belonging to `Non-Promoter Category` on preferential basis.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.04% · promoters 100.00% · institutions 0.00% · other public 36.27%
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.
Annual general meeting, 29 Sep 2022, 5 resolutions
Present: 1 promoter and 38 others.The company's voting result (opens in a new tab)
- Adoption of Audited Financial Statement of the Company for the financial year ended on March 31, 2022 and the reports of the Board of Directors and Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 67.72% · promoters 100.00% · institutions 0.00% · other public 35.01%
- Declaration of 10% Dividend on Equity Shares for the financial year 2021-22Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 67.72% · promoters 100.00% · institutions 0.00% · other public 35.01%
- Re-appointment of retiring Director Mr. Rahul Bishnoi (DIN: 00317960) who retires by rotation and being eligible offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 67.72% · promoters 100.00% · institutions 0.00% · other public 35.01%
- Re-appointment of retiring Director Mr. Ashwani Kumar Sharma (DIN: 00325634) who retires by rotation and being eligible offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 67.72% · promoters 100.00% · institutions 0.00% · other public 35.01%
- Ratification of Remuneration of the Cost Auditors for the Financial Year ending March 31, 2023Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 67.72% · promoters 100.00% · institutions 0.00% · other public 35.01%
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.
Tax disputes
Reported in the filing for the quarter to Sep 2026.
- Tax disputeAssistant Commissioner, Central Goods & Services Tax, DehradunSince 6 Nov 2024Writ Petition (WPMS No. 3068 of 2024) filed in the High Court of Uttarakhand at Nanital, is adjourned for next hearing.At the filing before: Pending with High Court of Uttarakhand at Nanital
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere | Reason and comments |
|---|---|---|---|---|---|---|
| OthersMar 2025 | 10.20 | The Company intends to utilize the proceeds raised through the issue (“Issue Proceeds”) towards the following objects: 1. For creating a separate facility in its existing Active Pharmaceutical Ingredient (API) plant at Plot No. D-2/CH/41/A, GIDC Industrial Estate, Dahej-II, Pin-392140, Distt. Bharuch (Gujarat) to manufacture Diabetology and Cardiovascular API’s for Domestic Market. 2. For Working capital requirements of the Company. 3. For General Corporate Purpose | 10.20 | 10.20 | No | Audit committee: There is no deviation/variation in the utilization of funds |