Sun Pharmaceutical Industries logo

Sun Pharmaceutical Industries MD, chairman, board of directors and AGM

NSE: SUNPHARMABSE: 524715Pharmaceuticals & BiotechnologyLarge Cap

Formerly Sun Pharmaceuticals Industries
Last close ₹1,748.00down ₹10.00 (0.57%)BSE ₹1,743.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,758.00.

52-week range of traded prices to 23 Oct 2026
₹1,583.70Low, 29 Jan 2026₹2,046.90High, 31 Jul 2026
Market cap
₹4,19,404 Cr13th largest listed
P/E
34.7
P/B
5.0
Dividend yield
0.92%
ROE
15.5%
ROCE
16.9%
Debt to equity
0.05
Volume, NSE
10,64,52860.0% delivered

Sun Pharmaceutical Industries 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

  • ChairpersonDilip Shantilal ShanghviRelated to the promoter
  • Managing directorKirti Wardhaman Ganorkar
  • Company Secretary and Compliance OfficerAnoop Deshpande

9 directors5 independent4 executive

  • Dilip Shantilal Shanghvi · ChairpersonExecutive · joined Mar 1993 · reappointed Sep 2025 · 2 listed boards
  • Kirti Wardhaman Ganorkar · Managing directorExecutive · joined Sep 2025 · 1 listed board · 1 committee seat
  • Pawan Kumar GoenkaIndependent · joined May 2021 · reappointed May 2026 · 62 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Gautam Bhailal DoshiIndependent · joined May 2018 · reappointed May 2023 · 97 months as independent · 1 listed board · 1 as independent · 3 committee seats, 2 as chair
  • Rolf HoffmannIndependent · joined Jun 2023 · reappointed Jun 2023 · 37 months as independent · 1 listed board · 1 as independent
  • Satyavati BereraIndependent · joined May 2026 · reappointed May 2026 · 1 month as independent · 4 listed boards · 4 as independent · 5 committee seats, 3 as chair
  • Andreas BuschIndependent · joined May 2026 · reappointed May 2026 · 1 month as independent · 1 listed board · 1 as independent
  • Aalok Dilip ShanghviExecutive · joined Jun 2023 · 1 listed board · 1 committee seat
  • Vidhi Dilip ShanghviExecutive · joined May 2025 · 2 listed boards · 2 committee seats

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

3 directors who left
  • Rama Bijapurkar, left 20 May 2026: Tenure Completion
  • Sudir Vrundavandas Valia, left 31 Jul 2025: Others
  • Sanjay Khatau Asher, left 31 Mar 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 22 May 20269 of 9 present5 independent · 31 days in between
    • 20 Apr 20268 of 8 present4 independent · 23 days in between
    • 27 Mar 20268 of 8 present4 independent · 54 days in between
    • 31 Jan 20268 of 8 present4 independent

  • Audit Committee

    Chair Gautam Bhailal Doshi

    Pawan Kumar Goenka, Satyavati Berera

    • 21 May 20263 of 3 present3 independent · 58 days in between
    • 23 Mar 20262 of 3 present2 independent · 51 days in between
    • 30 Jan 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair Pawan Kumar Goenka

    Gautam Bhailal Doshi, Rolf Hoffmann, Dilip Shantilal Shanghvi

    • 21 May 20263 of 4 present2 independent · 30 days in between
    • 20 Apr 20264 of 4 present3 independent · 16 days in between
    • 3 Apr 20264 of 4 present3 independent · 61 days in between
    • 31 Jan 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Gautam Bhailal Doshi

    Pawan Kumar Goenka, Aalok Dilip Shanghvi, Kirti Wardhaman Ganorkar

    • 21 May 20264 of 4 present2 independent · 110 days in between
    • 30 Jan 20264 of 4 present2 independent

  • Risk Management Committee

    Chair Pawan Kumar Goenka

    Gautam Bhailal Doshi, Dilip Shantilal Shanghvi, Aalok Dilip Shanghvi, Satyavati Berera, Jayashree Satagopan

    • 21 May 20265 of 5 present3 independent · 110 days in between
    • 30 Jan 20264 of 4 present2 independent

  • Corporate Social Responsibility Committee

    Pawan Kumar Goenka, Dilip Shantilal Shanghvi, Vidhi Dilip Shanghvi

    • 21 May 20263 of 3 present1 independent · 110 days in between
    • 30 Jan 20264 of 4 present2 independent

  • Corporate Governance and ESG Committee

    Chair Gautam Bhailal Doshi

    Pawan Kumar Goenka, Kirti Wardhaman Ganorkar, Jayashree Satagopan, Anoop Deshpande

    • 21 May 20263 of 3 present2 independent · 58 days in between
    • 23 Mar 20263 of 3 present2 independent · 51 days in between
    • 30 Jan 20263 of 3 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.

  • S R B C & CO LLPPeer-review certificate valid to Feb 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.

Sun Pharmaceutical 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.Sun Pharmaceutical Industries dividend history

Postal ballot, 26 Sep 2026

7,32,833 shareholders on the register on 21 Aug 2026; votes counted by Chintan Goswami / KJB & CO LLP.The company's voting result (opens in a new tab)

  1. Reclassification of Mr. Sudhir Vrundavandas Valia, Mrs. Raksha Sudhir Valia and Mrs. Krishna Vrundavandas Valia from “Promoter Group” to “Public” category.
    OrdinaryPromoters have an interest in it
    97.25% for2.75% against

    Against: promoters 0.00% · institutions 7.03% · other public 0.15%

    Turnout: all 87.56% · promoters 96.02% · institutions 93.38% · other public 11.76%

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, 31 Jul 2026, 8 resolutions

7,29,390 shareholders on the register on 24 Jul 2026; present: 5 promoters and 116 others; votes counted by Chintan Goswami / KJB & CO. LLP.The company's voting result (opens in a new tab)

  1. Adoption of Standalone Financial Statements along with reports of the Board of Directors and Auditors thereon for FY 2025-26 as approved and recommended by the Board.
    Ordinary
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 0.63% · other public 0.00%

    Turnout: all 90.34% · promoters 100.00% · institutions 92.29% · other public 21.83%

  2. Adoption of Consolidated Financial Statements along with the report of the Auditors thereon for FY 2025-26 as approved and recommended by the Board.
    OrdinaryPromoters have an interest in it
    99.84% for0.16% against

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

    Turnout: all 90.34% · promoters 100.00% · institutions 92.29% · other public 21.83%

  3. Approval for the appointment of Mr. Aalok Shanghvi, who retires by rotation and being eligible, has offered himself for re-appointment.
    OrdinaryPromoters have an interest in it
    92.63% for7.37% against

    Against: promoters 0.00% · institutions 17.32% · other public 0.01%

    Turnout: all 80.37% · promoters 81.26% · institutions 92.96% · other public 21.83%

  4. Approval for Final Dividend of ₹5/- per equity share for FY 2025-26, which if approved shall be paid to the Shareholders.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.58% · promoters 100.00% · institutions 92.96% · other public 21.83%

  5. Ratification of the remuneration of ₹31.26 lakh per annum (plus taxes and expenses) payable to M/s. Narasimha Murthy & Co., Cost Accountants, as Cost Auditor for FY 2026–27.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.58% · promoters 100.00% · institutions 92.96% · other public 21.83%

  6. Approval to increase the maximum remuneration payable to Mr. Aalok Shanghvi, Whole-time Director, to ₹15 crore per annum for the remaining tenure up to 31 May 2028. The revised remuneration will also be payable as minimum remuneration in the event of loss or inadequate profits, in accordance with applicable provisions.MoreLess
    SpecialPromoters have an interest in it
    98.12% for1.88% against

    Against: promoters 0.00% · institutions 4.42% · other public 0.04%

    Turnout: all 80.37% · promoters 81.26% · institutions 92.96% · other public 21.83%

  7. Approval for payment of commission to Independent Directors within the limits prescribed under the Companies Act, 2013. This approval is being sought pursuant to the requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as an enabling resolution.MoreLess
    Ordinary
    82.67% for17.33% against

    Against: promoters 0.00% · institutions 46.20% · other public 0.03%

    Turnout: all 90.24% · promoters 100.00% · institutions 92.04% · other public 21.83%

  8. Approval for the appointment of Dr. Andreas Busch as an Independent Director for a term of five consecutive years, from 12 May 2026 to 11 May 2031 based on the approval of the NRC and of the Board of Directors. Dr. Busch brings over three decades of global pharmaceutical experience, particularly in research and development and innovation leadership, which will strengthen the Board’s capabilities in strategic oversight and support long-term value creation.MoreLess
    Special
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.30% · other public 0.08%

    Turnout: all 90.58% · promoters 100.00% · institutions 92.96% · other public 21.83%

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

Postal ballot, 8 May 2026, 1 resolution

7,12,428 shareholders on the register on 3 Apr 2026; votes counted by Chintan Goswami / KJB & Co LLP.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Satyavati Berera (DIN: 05002709) as an Independent Director
    Special
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.84% · other public 0.19%

    Turnout: all 89.90% · promoters 100.00% · institutions 92.71% · other public 12.70%

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, 17 Apr 2026, 3 resolutions

7,10,306 shareholders on the register on 13 Mar 2026; votes counted by Chintan Goswami / KJB & Co LLP.The company's voting result (opens in a new tab)

  1. Ratification of the remuneration of the Cost Auditor for the financial year 2025-26
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.19% · promoters 100.00% · institutions 92.42% · other public 17.68%

  2. Alteration of Main Objects clause III (A) of the Memorandum of Association of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 90.19% · promoters 100.00% · institutions 92.42% · other public 17.68%

  3. Re-appointment of Dr. Pawan Goenka (DIN:00254502) as an Independent Director
    Special
    95.42% for4.58% against

    Against: promoters 0.00% · institutions 12.07% · other public 0.11%

    Turnout: all 90.18% · promoters 100.00% · institutions 92.38% · other public 17.68%

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, 31 Jul 2025, 8 resolutions

7,47,797 shareholders on the register on 7 Jul 2025; present: 8 promoters and 117 others; votes counted by Chintan Goswami / KJB & CO. LLP.The company's voting result (opens in a new tab)

  1. Adoption of the audited standalone financial statements of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.97% for0.03% against

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

    Turnout: all 89.98% · promoters 100.00% · institutions 91.11% · other public 22.91%

  2. Adoption of the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.
    Ordinary
    99.97% for0.03% against

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

    Turnout: all 89.98% · promoters 100.00% · institutions 91.11% · other public 22.91%

  3. Declaration of Final Dividend of Rs. 5.50/- (Rupees Five and paise fifty only) per Equity Share of Rs. 1/- (Rupee One only) each for the financial year 2024-25.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.39% · promoters 100.00% · institutions 92.22% · other public 22.91%

  4. Appointment of Ms. Vidhi Shanghvi (DIN: 06497350) as a Whole-time Director
    SpecialPromoters have an interest in it
    90.46% for9.54% against

    Against: promoters 0.00% · institutions 25.42% · other public 0.08%

    Turnout: all 90.38% · promoters 100.00% · institutions 92.19% · other public 22.91%

  5. Retirement of Mr. Sudhir Valia (DIN: 00005561), Non- Executive and Non-Independent Director
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 90.37% · promoters 100.00% · institutions 92.17% · other public 22.91%

  6. Appointment of Mr. Dilip Shanghvi (DIN: 00005588) as an Executive Director of the Company
    SpecialPromoters have an interest in it
    98.72% for1.28% against

    Against: promoters 0.00% · institutions 3.42% · other public 0.01%

    Turnout: all 90.38% · promoters 100.00% · institutions 92.19% · other public 22.91%

  7. Appointment of Mr. Kirti Ganorkar (DIN: 10620142) as the Managing Director of the Company
    Special
    99.59% for0.41% against

    Against: promoters 0.00% · institutions 1.10% · other public 0.01%

    Turnout: all 90.38% · promoters 100.00% · institutions 92.19% · other public 22.91%

  8. Appointment of KJB & Co LLP, Practising Company Secretaries, as the Secretarial Auditors of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 90.35% · promoters 100.00% · institutions 92.12% · other public 22.91%

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

Postal ballot, 25 Mar 2025, 3 resolutions

7,24,755 shareholders on the register on 17 Feb 2025; votes counted by Chintan Goswami / KJB & CO. LLP.The company's voting result (opens in a new tab)

  1. Approval for Material Related Party Transactions between Taro Pharmaceuticals Inc., Canada and Sun Pharmaceutical Industries Inc., USA
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.35%

    Turnout: all 33.22% · promoters 0.00% · institutions 90.29% · other public 2.08%

  2. Approval for Material Related Party Transactions between Taro Pharmaceutical Industries Ltd., Israel and Sun Pharmaceutical Industries Inc., USA
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.35%

    Turnout: all 33.22% · promoters 0.00% · institutions 90.29% · other public 2.08%

  3. Approval for Material Related Party Transactions between Taro Pharmaceuticals U.S.A., Inc., USA and Sun Pharmaceutical Industries Inc., USA
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.36%

    Turnout: all 33.22% · promoters 0.00% · institutions 90.29% · other public 2.08%

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.

Meeting called by the tribunal, 21 Jan 2025, 1 resolution

7,14,654 shareholders on the register on 14 Jan 2025; present: 8 promoters and 59 others; votes counted by Chintan Goswami / KJB & CO. LLP.The company's voting result (opens in a new tab)

  1. To consider and approve the Composite Scheme of Arrangement for amalgamation of five wholly-owned subsidiaries with the Company and Reclassification of general reserves into retained earnings
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 89.04% · promoters 100.00% · institutions 90.46% · other public 16.37%

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, 5 Aug 2024, 7 resolutions

Present: 9 promoters and 61 others.The company's voting result (opens in a new tab)

  1. Adoption of audited standalone financial statements of the Company for the financial year ended March 31, 2024 and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.09% · other public 0.01%

    Turnout: all 88.39% · promoters 100.00% · institutions 87.96% · other public 19.54%

  2. Adoption of audited consolidated financial statements of the Company for the financial year ended March 31, 2024 and the report of the Auditors thereon.
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.09% · other public 0.01%

    Turnout: all 88.39% · promoters 100.00% · institutions 87.96% · other public 19.54%

  3. Declaration of final dividend of Rs. 5 (Rupees Five only) per Equity Share of Re. 1 (Rupee one only) for the financial year 2024-25
    Ordinary
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.32% · other public 0.01%

    Turnout: all 88.81% · promoters 100.00% · institutions 89.11% · other public 19.54%

  4. Appointment of Mr. Dilip Shanghvi (DIN: 00005588) as a Director, who retires by rotation.
    Ordinary
    98.08% for1.92% against

    Against: promoters 0.00% · institutions 5.25% · other public 0.02%

    Turnout: all 88.72% · promoters 100.00% · institutions 88.85% · other public 19.54%

  5. Ratification of the remuneration of the Cost Auditors for financial year 2024-25.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 88.80% · promoters 100.00% · institutions 89.08% · other public 19.54%

  6. Approval for material related party transactions between Taro Pharmaceuticals Industries Limited, Israel and Taro Pharmaceuticals USA, Inc for the financial year 2024-25.
    Ordinary
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 0.26% · other public 0.04%

    Turnout: all 33.36% · promoters 0.00% · institutions 89.09% · other public 8.73%

  7. Approval for material related party transaction between Taro Pharmaceuticals Inc, Canada and Taro Pharmaceuticals USA, Inc for the financial year 2024-25.
    Ordinary
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 0.26% · other public 0.03%

    Turnout: all 33.36% · promoters 0.00% · institutions 89.09% · other public 8.73%

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 26 Sep 2026, 19 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Reclassification of Mr. Sudhir Vrundavandas Valia, Mrs. Raksha Sudhir Valia and Mrs. Krishna Vrundavandas Valia from “Promoter Group” to “Public” category.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual FundGovernance Concern: Partial re-classifications among persons sharing close familial relationships does not align with a good governance practice as individuals/entities sharing close relationships will form part of the public as well as promoter categories.
    • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, PGIM India Mutual FundCompliant with Law. Governance Concern: Partial re-classifications among persons sharing close familial relationships does not align with a good governance practice as individuals/entities sharing close relationships will form part of the public as well as promoter categories.
    12 for7 against

Mutual fund votes, meeting of 31 Jul 2026, 19 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Adoption of Standalone Financial Statements along with reports of the Board of Directors and Auditors thereon for FY 2025-26 as approved and recommended by the Board.
    19 for0 against
  • Adoption of Consolidated Financial Statements along with the report of the Auditors thereon for FY 2025-26 as approved and recommended by the Board.
    19 for0 against
  • Approval for the appointment of Mr. Aalok Shanghvi, who retires by rotation and being eligible, has offered himself for re-appointment.
    19 for0 against
  • Approval for Final Dividend of ₹5/- per equity share for FY 2025-26, which if approved shall be paid to the Shareholders.
    19 for0 against
  • Ratification of the remuneration of ₹31.26 lakh per annum (plus taxes and expenses) payable to M/s. Narasimha Murthy & Co., Cost Accountants, as Cost Auditor for FY 2026–27.
    19 for0 against
  • Approval to increase the maximum remuneration payable to Mr. Aalok Shanghvi, Whole-time Director, to ₹15 crore per annum for the remaining tenure up to 31 May 2028. The revised remuneration will also be payable as minimum remuneration in the event of loss or inadequate profits, in accordance with applicable provisions.MoreLess
    19 for0 against
  • Approval for payment of commission to Independent Directors within the limits prescribed under the Companies Act, 2013. This approval is being sought pursuant to the requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as an enabling resolution.MoreLess
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, PGIM India Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund
    • Angel One Mutual FundGovernance Concern: Approval proposed for perpetuity without an absolute cap on commission payable.
    • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, PGIM India Mutual FundCompliant with law. Governance Concern: Approval proposed for perpetuity without an absolute cap on commission payable.
    • HSBC Mutual FundA vote AGAINST this resolution is warranted as the approval will be valid till perpetuity and shareholders will not get to review the payments in the future.
    • Jio BlackRock Mutual Fund, SBI Mutual Fund, Sundaram Mutual FundAt the 2021 AGM, the shareholders had approved payment of commission to Independent Directors for five years from FY22 to FY26. Now, the company proposes extending the approval within the prescribed limits under regulation. The total commission payable to Independent Directors for FY26 aggregated Rs. 24.8 mn (0.07% of standalone profit before tax). The company now seeks approval to pay commission to Non-Executive Directors not exceeding 1.0% of the net profits. The company has not capped the commission in absolute terms and has not defined the tenure for payment of commission. While the amounts paid in the past are reasonable, we do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments. We do not support the resolution.
    8 for11 against
  • Approval for the appointment of Dr. Andreas Busch as an Independent Director for a term of five consecutive years, from 12 May 2026 to 11 May 2031 based on the approval of the NRC and of the Board of Directors. Dr. Busch brings over three decades of global pharmaceutical experience, particularly in research and development and innovation leadership, which will strengthen the Board’s capabilities in strategic oversight and support long-term value creation.MoreLess
    19 for0 against
6 earlier meetings

Mutual fund votes, meeting of 8 May 2026, 42 fund houses

  • Appointment of Ms. Satyavati Berera (DIN: 05002709) as an Independent Director
    42 for0 against

Mutual fund votes, meeting of 17 Apr 2026, 39 fund houses

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

  • Ratification of the remuneration of the Cost Auditor for the financial year 2025-26
    38 for0 against
  • Alteration of Main Objects clause III (A) of the Memorandum of Association of the Company
    38 for0 against
  • Re-appointment of Dr. Pawan Goenka (DIN:00254502) as an Independent Director
    Against Angel One Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund
    • Angel One Mutual FundGovernance concern: Dr. Goenka is the Nomination & Remuneration Committee Chairman and the Executive Director remuneration appears to be skewed in favour of Mr. Aalok Shanghvi,without any justification. Nomination & Remuneration Committee, being responsible for ensuring fair remuneration distribution, should be held accountable for any unfair remuneration practices in the Company.
    • Groww Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with law. No concern has been identified w.r.t. profile, time commitment and independence of the proposed appointee. Governance concern: Dr. Goenka is the NRC Chairman and the ED remuneration appears to be skewed in favour of Mr. Aalok Shanghvi, without any justification. NRC, being responsible for ensuring fair remuneration distribution, should be held accountable for any unfair remuneration practices in the Company
    • HSBC Mutual FundA vote FOR this resolution is warranted given the absence of any known issues concerning the nominee.
    33 for5 against
3 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 23 Mar 2026, 1 fund house

  • Alteration of Main Objects clause III (A) of the Memorandum of Association of the Company
    1 for0 against
  • Ordinary Resolution - Ratification of the remuneration of the Cost Auditor for the financial year 2025-26
    1 for0 against
  • Special Resolution - Re-appointment of Dr. Pawan Goenka (DIN:00254502) as an Independent Directo
    1 for0 against

Mutual fund votes, meeting of 31 Jul 2025, 39 fund houses

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

  • Adoption of the audited standalone financial statements of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.
    38 for0 against
  • Adoption of the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.
    38 for0 against
  • Declaration of Final Dividend of Rs. 5.50/- (Rupees Five and paise fifty only) per Equity Share of Rs. 1/- (Rupee One only) each for the financial year 2024-25.
    38 for0 against
  • Appointment of Ms. Vidhi Shanghvi (DIN: 06497350) as a Whole-time Director
    Against Angel One Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Holds two full-time positions in unrelated businesses.
    • Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Holds two full-time positions in unrelated businesses.
    • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because Vidhi Shanghvi is a non-independent director nominee, and the board independence is less than adequate.
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because:_x000D_ • Vidhi Shanghvi is a non-independent director nominee, and the board independence (after our _x000D_ classification) is less than adequate.
    • PPFAS Mutual FundHolds 2 full-time positions
    28 for10 against
  • Retirement of Mr. Sudhir Valia (DIN: 00005561), Non- Executive and Non-Independent Director
    39 for0 against
  • Appointment of Mr. Dilip Shanghvi (DIN: 00005588) as an Executive Director of the Company
    Against Angel One Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Quantum Mutual Fund, Unifi Mutual Fund, Zerodha Mutual Fund
    • Angel One Mutual FundGovernance Concern: Combined position of Chairman Executive Director; Holds two full-time positions in unrelated businesses.
    • Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Combined position of Chairman Executive Director; Holds two full-time positions in unrelated businesses.
    • PPFAS Mutual FundHolds Executive Chairman position and 2 full-time positions
    • Quantum Mutual FundWe take note that Mr. Dilip Shanghvi holds the position of Chairman & MD in the company. We are of the view that holding dual position may lead to concentration of power. Therefore, we do not favour his reappointment.
    • Unifi Mutual FundDilip Shanghvi, 69, is founder and Chairperson of Sun Pharmaceutical Industries Limited. His FY25 pay aggregated Rs. 64.8 mn from Sun Pharmaceutical Industries Ltd. He has also been drawing remuneration from several Taro companies (subsidiaries of Sun Pharma), primarily Taro Pharmaceuticals USA Inc., which has been higher than his compensation from the listed company. His overall pay from the group companies in FY25 has not been disclosed separately. In FY24, he drew Rs. 173.2 mn from the group, of which only Rs. 60.5 mn was from Sun Pharma. His FY26 pay from Sun Pharma is estimated at Rs. 82.1 mn, and his overall pay during the term is capped at approximately Rs. 134.4 mn. However, this does not include his pay from subsidiaries. While his past remuneration was reasonable, in the absence of clarity on his pay from subsidiaries going forward, we are unable to estimate his overall pay. We do not support the resolution.
    28 for10 against
  • Appointment of Mr. Kirti Ganorkar (DIN: 10620142) as the Managing Director of the Company
    38 for0 against
  • Appointment of KJB & Co LLP, Practising Company Secretaries, as the Secretarial Auditors of the Company
    39 for0 against
6 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 25 Mar 2025, 35 fund houses

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

  • Approval for Material Related Party Transactions between Taro Pharmaceuticals Inc., Canada and Sun Pharmaceutical Industries Inc., USA
    34 for0 against
  • Approval for Material Related Party Transactions between Taro Pharmaceutical Industries Ltd., Israel and Sun Pharmaceutical Industries Inc., USA
    35 for0 against
  • Approval for Material Related Party Transactions between Taro Pharmaceuticals U.S.A., Inc., USA and Sun Pharmaceutical Industries Inc., USA
    34 for0 against
2 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 21 Jan 2025, 34 fund houses

  • To consider and approve the Composite Scheme of Arrangement for amalgamation of five wholly-owned subsidiaries with the Company and Reclassification of general reserves into retained earnings
    34 for0 against

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

Tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtCeralink Therapeutics IncSince 21 Jun 2026

    10.00% bought in the quarter; holding 10.00%, from 0.00%

  • Tax disputeDCIT - Circle 2(1)(1) - BarodaSince 23 Jan 2020
    Ongoing
    At the filing before: Adjustment to Income made during assessment under section 143(3) of the Income-tax Act
  • Tax disputeDCIT - Circle 2(1)(1) - BarodaSince 25 Oct 2021
    Ongoing
    At the filing before: Adjustment to Income made during assessment under section 143(3) of the Income-tax Act
  • Tax disputeDCIT - Circle 2(1)(1) - BarodaSince 29 Oct 2022
    An appeal has been preferred by the Department against the order passed significantly in favour of the Company.
    At the filing before: Adjustment to Income made during assessment under section 143(3) of the Income-tax Act
  • Tax disputeCommissioner - Service Tax, MumbaiSince 3 Jul 2020
    Ongoing
    At the filing before: Service tax on Out of Court Settlement Expenses

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 4 complaints open, quarter to Dec 2024.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
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.