Stylam Industries logo

Stylam Industries MD, chairman, board of directors and AGM

NSE: STYLAMINDBSE: 526951Consumer DurablesSmall Cap

Last close ₹3,105.30down ₹15.50 (0.50%)BSE ₹3,100.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹3,120.80.

52-week range of traded prices to 23 Oct 2026
₹1,870.00Low, 14 Nov 2025₹4,150.00High, 22 Jul 2026
Market cap
₹5,263 Cr845th largest listed
P/E
31.0
P/B
6.5
Dividend yield
Nonein the last 12 months
ROE
23.2%
ROCE
25.9%
Debt to equity
0.04
Volume, NSE
28,20755.6% delivered

Stylam 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

  • Managing directorJAGDISH GUPTA
  • ChairpersonSUNIL KUMAR SOOD
  • Company Secretary and Compliance OfficerDhiraj Kheriwal

15 directors5 independent3 executive7 non-executive

  • JAGDISH GUPTA · Managing directorExecutive · joined Oct 1991 · reappointed Jul 2024 · 34 months as independent · 1 listed board
  • MANIT GUPTAExecutive · joined Feb 2015 · reappointed Jan 2022 · 3 months as independent · 1 listed board
  • PURVA KANSALIndependent · joined Aug 2023 · 22 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • NIKHIL GARGIndependent · joined Jul 2024 · 34 months as independent · 1 listed board · 1 as independent
  • SUNIL KUMAR SOOD · ChairpersonIndependent · joined Jul 2024 · 34 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • NOBUYOSHI SAKAINominee, non-executive · joined Feb 2026 · 52 months as independent · 1 listed board
  • SANTOSH KUMAR AGRAWALIndependent · joined Feb 2026 · 52 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • TIRLOKI NATH SINGLAIndependent · joined Jun 2026 · 56 months as independent · 1 listed board
  • KENJI EBIHARANon-executive · joined Jun 2026 · 56 months as independent · 1 listed board
  • NARUHIRO AMADAExecutive · joined Jun 2026 · 56 months as independent · 1 listed board
  • NOBUYUKI OMURANon-executive · joined Jun 2026 · 56 months as independent · 1 listed board
  • YUJI IWATSUKANon-executive · joined Jun 2026 · 56 months as independent · 1 listed board
  • KOSHI SUZUKINon-executive · joined Jun 2026 · 56 months as independent · 1 listed board
  • MAKOTO TANAKANon-executive · joined Jun 2026 · 56 months as independent · 1 listed board
  • ADISAK THIAPHAIRATNon-executive · joined Jun 2026 · 56 months as independent · 1 listed board

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.

4 directors who left
  • MANAV GUPTA, left 17 Feb 2026: Others
  • RAJESH GILL, left 17 Feb 2026: Others
  • SACHIN BHATLA, left 13 Feb 2026: Others
  • VINOD KUMAR, left 13 Feb 2026: Others

Committees and meetings

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

  • Board

    • 22 Jul 202614 of 15 present4 independent · 34 days in between
    • 17 Jun 20266 of 7 present3 independent · 40 days in between
    • 7 May 20266 of 7 present3 independent

  • Audit Committee

    Chair SUNIL KUMAR SOOD

    SANTOSH KUMAR AGRAWAL, PURVA KANSAL

    • 22 Jul 20262 of 3 present2 independent · 75 days in between
    • 7 May 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair PURVA KANSAL

    SUNIL KUMAR SOOD, SANTOSH KUMAR AGRAWAL

    • 22 Jul 20262 of 3 present2 independent · 34 days in between
    • 17 Jun 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair PURVA KANSAL

    SUNIL KUMAR SOOD, SANTOSH KUMAR AGRAWAL

    • 15 Sep 20263 of 3 present3 independent · 13 days in between
    • 1 Sep 20263 of 3 present3 independent · 21 days in between
    • 10 Aug 20263 of 3 present3 independent · 33 days in between
    • 7 Jul 20263 of 3 present3 independent

  • Risk Management Committee

    Chair PURVA KANSAL

    SUNIL KUMAR SOOD, SANTOSH KUMAR AGRAWAL

    • 7 May 20263 of 3 present3 independent

  • Corporate Social Responsibility Committee

    Chair PURVA KANSAL

    SUNIL KUMAR SOOD, SANTOSH KUMAR AGRAWAL

    • 22 Jul 20263 of 3 present3 independent · 75 days in between
    • 7 May 20263 of 3 present3 independent

  • ESG Committee

    Chair SUNIL KUMAR SOOD

    PURVA KANSAL, SANTOSH KUMAR AGRAWAL

    • 22 Jul 20262 of 3 present2 independent · 75 days in between

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.

  • MITTAL GOEL & ASSOCIATESPeer-review certificate valid to Mar 2029

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.

Stylam 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.Stylam Industries dividend history

Annual general meeting, 28 Aug 2026

34,372 shareholders on the register on 21 Aug 2026; present: 3 promoters and 41 others; votes counted by Sanjiv Kumar Goel / Sanjiv Kumar Goel.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt:- a) The Audited Standalone Financial Statement of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon; and b) The Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  2. To appoint Mr. Manit Gupta (DIN: 00889528), who retires by rotation as a Director
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  3. Appointment of Mr. Tirloki Nath Singla (DIN: 00182154) as an Non-Executive Independent Director.
    Special
    92.55% for7.45% against

    Against: promoters 0.00% · institutions 44.70% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  4. Approve the amendment in Articles of Association of the Company.
    Special
    91.90% for8.10% against

    Against: promoters 0.00% · institutions 48.60% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  5. Appointment of Mr. Naruhiro Amada (DIN: 09591668) as a Whole-time Director of the Company and approval of his remuneration.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  6. Appointment of Mr. Kenji Ebihara (DIN: 11768665) as a Non-Executive Director
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  7. Appointment of Mr. Nobuyuki Omura (DIN: 11056785) as a Non-Executive Director.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  8. Appointment of Mr. Yuji Iwatsuka (DIN: 08251732) as a Non-Executive Director.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  9. Appointment of Mr. Koshi Suzuki (DIN: 11768663) as a Non-Executive Director
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  10. Appointment of Mr. Makoto Tanaka (DIN: 11764640) as a Non-Executive Director Category
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  11. Appointment of Mr. Adisak Thiaphairat (DIN: 11765458) as a Non-Executive Director
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.11% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  12. Increase in Managerial Remuneration of Mr. Jagdish Gupta (DIN: 00115113), Managing Director of the Company
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  13. Continuation of Mr. Jagdish Gupta (DIN: 00115113) as a Managing Director of the Company on attaining the age of seventy years.
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  14. Increase in Managerial Remuneration of Mr. Manit Gupta (DIN: 00889528), Whole Time Director of the Company.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

  15. Re-appointment of Mr. Manit Gupta (DIN: 00889528) as Whole-time director of the Company.
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.15% · other public 0.06%

    Turnout: all 68.43% · promoters 100.00% · institutions 83.05% · other public 0.60%

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

Postal ballot, 28 Apr 2026, 5 resolutions

33,990 shareholders on the register on 20 Mar 2026; votes counted by Sanjiv Kumar Goel / Sanjiv Kumar Goel.The company's voting result (opens in a new tab)

  1. APPOINTMENT OF MR. NOBUYOSHI SAKAI (DIN: 11505178) AS A NON-EXECUTIVE NOMINEE DIRECTOR
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.16%

    Turnout: all 67.49% · promoters 100.00% · institutions 78.35% · other public 2.76%

  2. APPOINTMENT OF MR. SANTOSH KUMAR AGRAWAL (DIN: 00603098) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR.
    Special
    88.77% for11.23% against

    Against: promoters 0.00% · institutions 60.37% · other public 0.16%

    Turnout: all 67.49% · promoters 100.00% · institutions 78.35% · other public 2.76%

  3. INCREASE IN MANAGERIAL REMUNERATION OF MR. JAGDISH GUPTA (DIN: 00115113), MANAGING DIRECTOR
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 67.49% · promoters 100.00% · institutions 78.35% · other public 2.76%

  4. INCREASE IN MANAGERIAL REMUNERATION OF MR. MANIT GUPTA (DIN: 00889528), WHOLE TIME DIRECTOR.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 67.49% · promoters 100.00% · institutions 78.35% · other public 2.76%

  5. AMENDMENT OF ARTICLES OF ASSOCIATION OF THE COMPANY.
    Special
    98.64% for1.36% against

    Against: promoters 0.00% · institutions 7.31% · other public 0.15%

    Turnout: all 67.49% · promoters 100.00% · institutions 78.35% · other public 2.76%

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, 30 Sep 2025, 5 resolutions

35,408 shareholders on the register on 23 Sep 2025; present: 4 promoters and 42 others; votes counted by Sanjiv Kumar Goel / Sanjiv Kumar Goel.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt:- a) The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon. b) The Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.42%

    Turnout: all 63.40% · promoters 96.14% · institutions 79.73% · other public 0.12%

  2. To appoint a Director in place of Mr. Sachin Bhatla (DIN: 08182443) who is liable to retire by rotation and being eligible offers himself for re-appointment as a Director.
    Ordinary
    99.52% for0.48% against

    Against: promoters 0.00% · institutions 2.30% · other public 0.42%

    Turnout: all 63.40% · promoters 96.14% · institutions 79.73% · other public 0.12%

  3. Increase in Limits of Borrowings u/s 180 (1) (c) of the Companies Act, 2013.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.41%

    Turnout: all 63.40% · promoters 96.14% · institutions 79.73% · other public 0.12%

  4. Increase in limits of providing security u/s 180 (1) (a) of the Companies Act, 2013 in connection with the borrowing of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.41%

    Turnout: all 63.40% · promoters 96.14% · institutions 79.73% · other public 0.12%

  5. Appointment of Mr. Sanjiv Kumar Goel, Practicing Company Secretary as Secretarial Auditors of the Company for a period of 5 years.
    Special
    99.15% for0.85% against

    Against: promoters 0.00% · institutions 4.10% · other public 0.42%

    Turnout: all 63.40% · promoters 96.14% · institutions 79.73% · 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, 30 Sep 2024, 11 resolutions

Present: 6 promoters and 25 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: na.The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 66.35% · promoters 100.00% · institutions 65.94% · other public 12.39%

  2. To confirm the payment of Interim Dividend of Rs. 2.5 (Two Rupee & fifty Paisa) per equity share of face value of Re. 5/- each for the financial year ended March 31, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  3. To appoint a Director in place of Mr. Manav Gupta (DIN 03091842) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 1.73% · other public 0.00%

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  4. Approval for Re-appointment of Mr. Jagdish Rai Gupta (DIN: 00115113) as Managing Director and appointed as chairman of the company for a terms of Five (5) consecutive years.
    SpecialPromoters have an interest in it
    96.68% for3.32% against

    Against: promoters 0.00% · institutions 29.10% · other public 0.00%

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  5. Approval for Re-appointment of Mr. Manav Gupta (DIN: 03091842) as Executive Whole Time Director for a terms of Five (5) consecutive years
    Special
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 1.07% · other public 0.00%

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  6. Approval for Reappointment of Mr. Sachin Bhatla (DIN: 08182443) as Executive Director for a terms of Five (5) consecutive years
    Special
    100.00% for0.00% against

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

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  7. Approval for Appointment of Mr. Tirloki Nath Singla (DIN:00182154) as Non-Executive Non-Independent Director of the Company for a term of five (5) consecutive years.nn
    Ordinary
    99.92% for0.08% against

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

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  8. Approval for Appointment of Mr. Sunil Kumar Sood (DIN:01191059) as Non-Executive Independent Director of the Company.nn
    Special
    94.11% for5.89% against

    Against: promoters 0.00% · institutions 51.57% · other public 0.22%

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  9. : Approval for Appointment of Mr. Nikhil Garg (DIN: 03400248) as Non-executive Independent Director of the Company.nn
    Special
    96.76% for3.24% against

    Against: promoters 0.00% · institutions 28.26% · other public 0.22%

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  10. Approval for Re-appointment of Mr. Vinod Kumar (DIN: 08576194) as Non-Executive Independent Director of the Company..nn
    Special
    96.68% for3.32% against

    Against: promoters 0.00% · institutions 29.10% · other public 0.00%

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

  11. : Approval for Appointment of Ms. Rajesh Gill (DIN: 10753626) as Non Executive Independent Director of the Company...nn
    Special
    100.00% for0.00% against

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

    Turnout: all 66.39% · promoters 100.00% · institutions 66.31% · other public 12.39%

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, 30 Sep 2023, 4 resolutions

Present: 5 promoters and 17 others.The company's voting result (opens in a new tab)

  1. To receive, consider, approve and adopt the Audited Statement of Profit & Loss for the financial year ended on 31st March, 2023 and Balance Sheet as at that date together with Reports of the Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  2. To approve Re-appointment of Mr. Manit Gupta (DIN 00889528) who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.85% · other public 0.00%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  3. To approve Re-appointment of Mr. Sachin Bhatla (DIN 08182443) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    98.32% for1.68% against

    Against: promoters 0.00% · institutions 12.50% · other public 0.00%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  4. Appointment of Ms. Purva Kansal (DIN: 08205836) as a Non-Executive Independent Director of the Company for a period of 5 years’
    Ordinary
    97.05% for2.95% against

    Against: promoters 0.00% · institutions 21.89% · other public 0.00%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · 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, 30 Sep 2022, 7 resolutions

Present: 5 promoters and 22 others.The company's voting result (opens in a new tab)

  1. To receive, consider, approve and adopt the Audited Statement of Profit & Loss for the financial year ended on 31st March, 2022 and Balance Sheet as at that date together with Reports of the Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 99.40% · promoters 99.28% · institutions 100.00% · other public 100.00%

  2. To approve Re-appointment of Mr. Manav Gupta (DIN 03091842) who retires by rotation and being eligible offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    98.75% for1.25% against

    Against: promoters 0.00% · institutions 7.23% · other public 0.08%

    Turnout: all 52.65% · promoters 51.51% · institutions 100.00% · other public 2.31%

  3. Re-appointment of M/s Mittal Goel & Associates Chartered Accountants as Statutory Auditor for a term of five consecutive years
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 99.40% · promoters 99.28% · institutions 100.00% · other public 100.00%

  4. Appointment of Mr. Manit Gupta Kumar as Wholetime Director of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 55.98% · promoters 47.77% · institutions 100.00% · other public 100.00%

  5. To increase the salary of Mr. Jagdish Gupta Managing Director from Rs 16 lakh P.M to Rs. 25 lakh P.M
    OrdinaryPromoters have an interest in it
    98.81% for1.19% against

    Against: promoters 0.00% · institutions 7.33% · other public 0.00%

    Turnout: all 55.98% · promoters 47.77% · institutions 100.00% · other public 100.00%

  6. To increase the salary of Mr. Manav Gupta Whole Time Director from Rs 6 lakh P.M to Rs. 12 lakh P.M
    OrdinaryPromoters have an interest in it
    99.63% for0.37% against

    Against: promoters 0.00% · institutions 2.12% · other public 0.17%

    Turnout: all 52.65% · promoters 51.51% · institutions 100.00% · other public 2.31%

  7. To increase the salary of Mr. Manit Gupta Whole Time Director from Rs 6 lakh P.M to Rs. 12 lakh P.M
    OrdinaryPromoters have an interest in it
    99.16% for0.84% against

    Against: promoters 0.00% · institutions 5.21% · other public 0.00%

    Turnout: all 55.98% · promoters 47.77% · institutions 100.00% · 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, 30 Sep 2021, 4 resolutions

Present: 7 promoters and 37 others.The company's voting result (opens in a new tab)

  1. To receive, consider, approve and adopt the Audited Statement of Profit & Loss for the financial year ended on 31st March, 2021 and Balance Sheet as at that date together with Reports of the Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 52.96% · promoters 72.17% · institutions 27.71% · other public 30.76%

  2. To appoint a director in place of Mr,Manit Gupta (DIN 00889528) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    97.39% for2.61% against

    Against: promoters 0.00% · institutions 6.44% · other public 0.00%

    Turnout: all 9.35% · promoters 0.00% · institutions 27.71% · other public 17.55%

  3. To appoint a director in place of Mr, Sachin Bhatla (Din No.08182443) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 6.44% · other public 0.00%

    Turnout: all 52.96% · promoters 72.17% · institutions 27.71% · other public 30.76%

  4. To increase salary of Mr.Jagdish Gupta, Managing Director,from 12lakh p.m to Rs. 16.00 lakh p.m
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 9.35% · promoters 0.00% · institutions 27.71% · other public 17.55%

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 28 Aug 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt:- a) The Audited Standalone Financial Statement of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon; and b) The Audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    2 for0 against
  • To appoint Mr. Manit Gupta (DIN: 00889528), who retires by rotation as a Director
    2 for0 against
  • Appointment of Mr. Tirloki Nath Singla (DIN: 00182154) as an Non-Executive Independent Director.
    Against DSP Mutual Fund
    • DSP Mutual FundTirloki Nath Singla is a Chartered Accountant. He is former Director, Chandigarh Housing Board and Former President, Income Tax Appellate Tribunal Bar Association of Chandigarh, Punjab, Haryana & Himachal Pradesh. He has over four decades of experience in the fields of taxation, audit, finance, corporate governance, and regulatory compliance. He was appointed on the board as Non-Executive Non-Independent Director on 27 August 2024 and subsequently resigned on 13 February 2026 pursuant to the shareholders agreement executed on 26 December 2025. The company seeks to appoint him as Independent Director. However, we are unable to support the resolution because he did not complete a three-year cooling-off period after his previous association with the company. We recognize that there is change in control of the company, but the erstwhile promoter group is still the part of company. His appointment as Independent Director does not align with our voting guidelines. Given this concern, we are unable to support the resolution.
    1 for1 against
  • Approve the amendment in Articles of Association of the Company.
    Against DSP Mutual Fund, HSBC Mutual Fund
    • DSP Mutual FundThe company proposes to amend its Articles of Association (AoA) to grant special rights to Aica Kogyo Company Limited (Aica). It includes board nomination rights, committee nomination rights, quorum rights and disclosure of confidential information to Aica. Under the proposed amendment, Aica will be entitled to nominate upto eight directors to the board, either Executive or Non-Executive Non-Independent Directors, provided they maintain at least 5% of the company’s share capital. The director nomination rights of Aica shall apply to the committees of the board. Further, Aica shall also have the right to nominate alternate directors for each of the Aica directors. The board meeting quorum shall require Aica-nominated directors to constitute a majority of the directors present at the meeting and such Aica Directors are present at the beginning and throughout the meeting, unless such quorum requirement is waived in writing by Aica prior to such meeting. We do not support committee nomination rights or quorum rights and while we generally support board nomination rights for promoters and strategic investors, we expect such rights to be subject to a minimum shareholding threshold of at least 10%. Given these concerns, we do not support the resolution.
    • HSBC Mutual FundA vote AGAINST the proposal is warranted as: • The articles will grant board nomination right to Aica, which will not be subject to a minimum shareholding threshold. This could result in disproportionate and significant influence/control of such shareholders over the company's board. • The modification will enable Aica-nominated directors to form the majority of directors present at every Board meeting. If the required number of Aica directors are absent, the Board meeting cannot validly proceed unless Aica waives the requirement.
    0 for2 against
  • Appointment of Mr. Naruhiro Amada (DIN: 09591668) as a Whole-time Director of the Company and approval of his remuneration.
    2 for0 against
  • Appointment of Mr. Kenji Ebihara (DIN: 11768665) as a Non-Executive Director
    2 for0 against
  • Appointment of Mr. Nobuyuki Omura (DIN: 11056785) as a Non-Executive Director.
    2 for0 against
  • Appointment of Mr. Yuji Iwatsuka (DIN: 08251732) as a Non-Executive Director.
    2 for0 against
  • Appointment of Mr. Koshi Suzuki (DIN: 11768663) as a Non-Executive Director
    2 for0 against
  • Appointment of Mr. Makoto Tanaka (DIN: 11764640) as a Non-Executive Director Category
    2 for0 against
  • Appointment of Mr. Adisak Thiaphairat (DIN: 11765458) as a Non-Executive Director
    2 for0 against
  • Increase in Managerial Remuneration of Mr. Jagdish Gupta (DIN: 00115113), Managing Director of the Company
    2 for0 against
  • Continuation of Mr. Jagdish Gupta (DIN: 00115113) as a Managing Director of the Company on attaining the age of seventy years.
    2 for0 against
  • Increase in Managerial Remuneration of Mr. Manit Gupta (DIN: 00889528), Whole Time Director of the Company.
    2 for0 against
  • Re-appointment of Mr. Manit Gupta (DIN: 00889528) as Whole-time director of the Company.
    2 for0 against

Mutual fund votes, meeting of 28 Apr 2026, 6 fund houses

  • APPOINTMENT OF MR. NOBUYOSHI SAKAI (DIN: 11505178) AS A NON-EXECUTIVE NOMINEE DIRECTOR
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNon-compliant Board u/s 152 of the Act and non-retiring director being appointed; Proposed appointment is pursuant to SPA, however, terms of SPA are yet to be approved by the shareholders
    5 for1 against
  • APPOINTMENT OF MR. SANTOSH KUMAR AGRAWAL (DIN: 00603098) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR.
    Against Aditya Birla Sun Life Mutual Fund, Bank of India Mutual Fund, Motilal Oswal Mutual Fund, Unifi Mutual Fund
    • Aditya Birla Sun Life Mutual Fund, Bank of India Mutual FundSantosh Kumar Agrawal, 64, is the Managing Director of Chandigarh Hospitals & Research Centre Pvt. Ltd. and a Consultant Orthopaedic Surgeon at Shivalik Hospital & Trauma Centre, Mohali. He is an orthopaedic and trauma surgeon with over four decades of clinical and academic experience in India and abroad. He holds an MBBS, an MS in Orthopaedics, an M.Ch. in Orthopaedics from Liverpool, UK, and an F.A.S.I.F. qualification from Switzerland.While his appointment as an Independent Director meets applicable statutory requirements. Under the SEBI (LODR) Regulations, the appointment of an Independent Director is required to be approved through a special resolution of shareholders: the company has sought approval through an ordinary resolution. Hence, we do not support the resolution.
    • Motilal Oswal Mutual FundProposed appointment is pursuant to SPA; however, terms of SPA are yet to be approved by the shareholders.
    • Unifi Mutual FundSantosh Kumar Agrawal, 64, is the Managing Director of Chandigarh Hospitals & Research Centre Pvt. Ltd. and a Consultant Orthopaedic Surgeon at Shivalik Hospital & Trauma Centre, Mohali. He is an orthopaedic and trauma surgeon with over four decades of clinical and academic experience in India and abroad. He holds an MBBS, an MS in Orthopaedics, an M.Ch. in Orthopaedics from Liverpool, UK, and an F.A.S.I.F. qualification from Switzerland. While his appointment as an Independent Director meets applicable statutory requirements. Under the SEBI (LODR) Regulations, the appointment of an Independent Director is required to be approved through a special resolution of shareholders: the company has sought approval through an ordinary resolution. Hence, we do not support the resolution.
    2 for4 against
  • INCREASE IN MANAGERIAL REMUNERATION OF MR. JAGDISH GUPTA (DIN: 00115113), MANAGING DIRECTOR
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundDisclosures not as per SS-2.
    5 for1 against
  • INCREASE IN MANAGERIAL REMUNERATION OF MR. MANIT GUPTA (DIN: 00889528), WHOLE TIME DIRECTOR.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundDisclosures not as per SS-2.
    5 for1 against
  • AMENDMENT OF ARTICLES OF ASSOCIATION OF THE COMPANY.
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST the proposal is warranted because: • The proposal grants board nomination rights to the existing promoters which are not subject to a minimum shareholding threshold. This could result in disproportionate and significant influence/control of such shareholders over the company's board. • There are no fall-away right provisions when the nominee directors of Aica Kogyo are not present in a reconvened board meeting. • The lack of such safeguards results in the board being unable to proceed effectively in the nominees'absence, thereby causing avoidable delays in convening and concluding board meetings.
    5 for1 against
3 earlier meetings

Mutual fund votes, meeting of 30 Sep 2025, 10 fund houses

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

  • To receive, consider and adopt:- a) The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon. b) The Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors thereon.MoreLess
    10 for0 against
  • To appoint a Director in place of Mr. Sachin Bhatla (DIN: 08182443) who is liable to retire by rotation and being eligible offers himself for re-appointment as a Director.
    10 for0 against
  • Increase in Limits of Borrowings u/s 180 (1) (c) of the Companies Act, 2013.
    2 for0 against
  • Increase in limits of providing security u/s 180 (1) (a) of the Companies Act, 2013 in connection with the borrowing of the Company.
    1 for0 against
  • Appointment of Mr. Sanjiv Kumar Goel, Practicing Company Secretary as Secretarial Auditors of the Company for a period of 5 years.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundProposed fee payable to Secretarial Auditors not disclosed.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed fee payable to Secretarial Auditors not disclosed.
    6 for4 against
3 proposals not matched to one resolution
  • Approve creation of charge on company’s assets upto Rs. 1.0 bn
    1 for0 against
  • To borrow money for and on behalf of Company from time to time as deemed by it to be requisite and proper for the business of Company, but so that the moneys to be borrowed together with the moneys already borrowed by the Company, which will or may exceed the aggregate of its paid-up share capital, free reserves and securities premium of the Company as per the latest annual audited financial statements shall not exceed and may limit to Rs. 100 Crores apart from temporary loans obtained from the Company's bankers in the ordinary course of business.MoreLess
    8 for0 against
  • To create mortgage and/or charge on all or any of the movable and/or immovable assets of the Company, both present and future and/ or whole or any part of the Company in favour of lenders, agents, trustees to secure such sum or sums as they may deem requisite but not exceeding Rs. 100 Crores together with interest as agreed, additional interest in Case of default, accumulated interest, liquidated damages and commitment charges, all other costs, charges and expenses and all other monies payable by the Company.MoreLess
    8 for0 against

Mutual fund votes, meeting of 30 Sep 2024, 6 fund houses

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

  • To receive, consider and adopt: na.The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
    6 for0 against
  • To confirm the payment of Interim Dividend of Rs. 2.5 (Two Rupee & fifty Paisa) per equity share of face value of Re. 5/- each for the financial year ended March 31, 2024.
    6 for0 against
  • To appoint a Director in place of Mr. Manav Gupta (DIN 03091842) who retires by rotation and being eligible, offers himself for re-appointment.
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: Skewed remuneration towards promoters
    2 for3 against
  • Approval for Re-appointment of Mr. Jagdish Rai Gupta (DIN: 00115113) as Managing Director and appointed as chairman of the company for a terms of Five (5) consecutive years.
    Against Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: Skewed remuneration towards promoters; CMD of the Company.
    • DSP Mutual FundJagdish Rai Gupta, 68 is promoter, Chairperson & Managing Director, Stylam Industries Limited. He has been associated with the company since 28 October 1991. The company proposes to reappoint him as CMD for five years from 31 July 2024. He received Rs. 30.0 mn as remuneration in FY24, we estimate his FY25 remuneration to be Rs. 36.0 mn which is in line with peers and commensurate with the size of the business. The notice states that the terms and conditions of his existing appointment may be modified by mutual agreement between the board and him. Any adjustments will adhere to the overall limits of managerial remuneration as prescribed by the Act and not within the limits approved by shareholders. Given the fact that the remuneration terms may well go beyond the limits approved by the shareholders, based on the board’s discretion, we do not support the resolution.
    2 for4 against
  • Approval for Re-appointment of Mr. Manav Gupta (DIN: 03091842) as Executive Whole Time Director for a terms of Five (5) consecutive years
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: Skewed remuneration towards promoters
    3 for3 against
  • Approval for Reappointment of Mr. Sachin Bhatla (DIN: 08182443) as Executive Director for a terms of Five (5) consecutive years
    6 for0 against
  • Approval for Appointment of Mr. Tirloki Nath Singla (DIN:00182154) as Non-Executive Non-Independent Director of the Company for a term of five (5) consecutive years.nn
    6 for0 against
  • Approval for Appointment of Mr. Sunil Kumar Sood (DIN:01191059) as Non-Executive Independent Director of the Company.nn
    Against Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Aditya Birla Sun Life Mutual FundMr. Sunil Kumar Sood is the Chairperson of both Audit Committee and Nomination & Remuneration Committee. We are of the opinion that, AC and NRC are pillars of the Company ensuring corporate democracy therefore, a common director acting Chairperson of both the Committees may not be in the best interest of corporate governance since it might lead to concentration of power in the hands of a single individual. Further, this is also advocated by the RBI in its Direction to banks, where the Banking Regulator has specifically directed that chairperson of Board committees such as AC and NRC, shall be different directors. As a result, SES does not view the appointment of the same individual for both positions as a good governance practice.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Holding Chairman Position of Audit Committee and Nomination & Remuneration Committee; Proposed ID appears to be related to the outgoing ID; the Company has not provided any explanation w.r.t the same in the notice.
    • DSP Mutual FundSunil Kumar Sood is a Chartered Accountant. He has over four decades of experience in audit banking, finance and tax. We expect the company to provide adequate details regarding his age, past work experience and qualifications. Given the lack of clarity we are unable to support the resolution.
    1 for5 against
  • : Approval for Appointment of Mr. Nikhil Garg (DIN: 03400248) as Non-executive Independent Director of the Company.nn
    Against DSP Mutual Fund
    • DSP Mutual FundNikhil Garg has experience in running Technical and Commercial Operations in Building Material companies. He holds a B. Tech (IT), Thapar Institute of Engineering and Technology. We expect the company to provide adequate details regarding his age, past work experience and qualifications. Given the lack of clarity on his past work experience, we are unable to support the resolution.
    5 for1 against
  • Approval for Re-appointment of Mr. Vinod Kumar (DIN: 08576194) as Non-Executive Independent Director of the Company..nn
    Against DSP Mutual Fund
    • DSP Mutual FundVinod Kumar, 70, has experience of over 35 years in infrastructural Business and finance related matters. He has been on the board of the company since 30 September 2019. He has attended seven out of nine (78%) board meetings held in FY24. We expect the company to provide adequate details regarding his age, past work experience and qualifications. Given the lack of clarity we are unable to support the resolution. Further we note that company is seeking shareholders approval after his completion of first term, we believe shareholder approval for his reappointment should have been sought on or before the completion of his first term as Independent Director.
    5 for1 against
  • : Approval for Appointment of Ms. Rajesh Gill (DIN: 10753626) as Non Executive Independent Director of the Company...nn
    6 for0 against
1 proposal not matched to one resolution
  • To approve, Re-appointment of Mr.Manav Gupta, whole-time Director.
    1 for0 against

Mutual fund votes, meeting of 30 Sep 2023, 3 fund houses

  • To receive, consider, approve and adopt the Audited Statement of Profit & Loss for the financial year ended on 31st March, 2023 and Balance Sheet as at that date together with Reports of the Directors and Auditors thereon.MoreLess
    3 for0 against
  • To approve Re-appointment of Mr. Manit Gupta (DIN 00889528) who retires by rotation and being eligible offers himself for re-appointment.
    3 for0 against
  • To approve Re-appointment of Mr. Sachin Bhatla (DIN 08182443) who retires by rotation and being eligible offers himself for re-appointment
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundSachin Bhatla, 48, is the Director Technical of Stylam Industries Limited. He has been on the board since 2018. He has attended five out of nine (55%) meetings in FY23, and twelve out of twenty-nine (41%) board meetings held in the last three years. We expect directors to take their responsibilities seriously and attend all board meetings, and at the very least 75% of the board meetings over a three-year period. He retires by rotation, however, due to his low attendance we do not support his reappointment.
    2 for1 against
  • Appointment of Ms. Purva Kansal (DIN: 08205836) as a Non-Executive Independent Director of the Company for a period of 5 years’
    Against Bank of India Mutual Fund, Invesco Mutual Fund
    • Bank of India Mutual FundMs. Purva Kansal, 48, is currently as Professor at University Business School, Punjab University. She has over 15 years of experience in teaching graduate, postgraduate and doctoral classes at various Business School in area of research methodology, strategic management, and marketing of services. She has worked as a faculty researcher on projects from universities in USA and Canada. She holds an MBA from Himachal Pradesh University and a PhD from the University Business School, Punjab University, Chandigarh. We do not support the resolution since, based on the recent amendments to SEBI LODR effective 1 January 2022, we believe that a special resolution should have been presented to shareholders for her appointment.
    • Invesco Mutual FundMs. Purva Kansal, 48, is currently as Professor at University Business School, Punjab University. She has over 15 years of experience in teaching graduate, postgraduate and doctoral classes at various Business School in area of research methodology, strategic management, and marketing of services. She has worked as a faculty researcher on projects from universities in USA and Canada. She holds an MBA from Himachal Pradesh University and a PhD from the University Business School, Punjab University, Chandigarh. We do not support the resolution since, based on the recent amendments to SEBI LODR effective 1 January 2022, we believe that a special resolution should have been presented to shareholders for her appointment
    1 for2 against

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

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
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.