Share price at the NSE close on 23 Oct 2026. Previous close ₹510.85.
- 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.
- ₹12,176 Cr558th 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.
- Lossover the last 12 months
- 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 29 May 2026
- 4.1
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.20%
- 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 27 Jul 2026
- −1.9%
- ROE without one-offsReturn on equity without one-off items. Core profit, 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 less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹262 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 11.7%
- 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 27 Jul 2026
- 7.1%
- 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 29 May 2026
- 0.77
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 7,12,87646.2% delivered
Tilaknagar 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
- Chairperson and managing directorAmit DahanukarRelated to the promoter
- Company Secretary and Compliance OfficerMinuzeer Bamboat
8 directors4 independent3 executive1 non-executive
- Amit Dahanukar · Chairperson and managing directorExecutive · joined Jun 2000 · reappointed Nov 2023 · 1 listed board · 1 committee seat
- Shivani Amit DahanukarExecutive · joined Sep 2006 · reappointed Jun 2025 · 1 listed board
- Satish Chand MathurIndependent · joined Oct 2018 · reappointed Oct 2023 · 92 months as independent · 2 listed boards · 2 as independent · 2 committee seats
- Dilawar SinghIndependent · joined Oct 2018 · reappointed Oct 2023 · 92 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
- Aparna ChaturvediIndependent · joined Jul 2020 · reappointed Sep 2021 · 71 months as independent · 1 listed board · 1 as independent · 5 committee seats, 3 as chair
- Swapna Vinodchandra ShahNon-executive · joined Jul 2020 · reappointed Jun 2026 · 1 listed board · 1 committee seat
- Chemangala Ramachar RameshExecutive · joined Nov 2020 · reappointed Nov 2023 · 1 listed board
- Jenamejayan Kamalam ShivanIndependent · joined Nov 2025 · reappointed Nov 2025 · 8 months as independent · 1 listed board · 1 as independent · 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.
1 director who left
- Kishorekumar Ganpatrao Mhatre, left 8 Jun 2026: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 29 May 20269 of 9 present5 independent · 104 days in between
- 13 Feb 20265 of 9 present3 independent · 16 days in between
- 27 Jan 20269 of 9 present5 independent
Audit Committee
Chair Aparna Chaturvedi
Swapna Vinodchandra Shah, Dilawar Singh, Jenamejayan Kamalam Shivan
- 29 May 20265 of 5 present4 independent · 104 days in between
- 13 Feb 20263 of 5 present3 independent · 16 days in between
- 27 Jan 20265 of 5 present4 independent
Nomination and remuneration committee
Chair Dilawar Singh
Swapna Vinodchandra Shah, Jenamejayan Kamalam Shivan
- 29 May 20263 of 3 present2 independent · 121 days in between
- 27 Jan 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Dilawar Singh
Amit Dahanukar, Aparna Chaturvedi
- 29 May 20263 of 3 present2 independent · 104 days in between
- 13 Feb 20263 of 3 present2 independent
Risk Management Committee
Chair Amit Dahanukar
Shivani Amit Dahanukar, Jenamejayan Kamalam Shivan, Rajesh Choudhary
- 29 May 20263 of 3 present1 independent
Corporate Social Responsibility Committee
Chair Shivani Amit Dahanukar
Swapna Vinodchandra Shah, Aparna Chaturvedi
- 29 May 20263 of 3 present1 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- M/s Harshil Shah & CoPeer-review certificate valid to Jun 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.
Tilaknagar 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.Tilaknagar Industries dividend history
Annual general meeting, 22 Sep 2026
1,23,952 shareholders on the register on 15 Sep 2026; present: 3 promoters and 102 others; votes counted by Adv.R.T.RajGuroo / R.T.RAJGUROO & ASSOCIATES.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereonMoreLess
Ordinary90.41% for9.59% againstAgainst: promoters 0.00% · institutions 31.40% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To declare a Final Dividend on Equity Shares at the rate of Rs 1 (Rupee One Only) per equity share (10%) for the financial year 2025-26Ordinary99.81% for0.19% against
Against: promoters 0.00% · institutions 0.62% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To appoint a director in place of Mr. Chemangala Ramachar Ramesh (DIN: 08876738), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary99.90% for0.10% against
Against: promoters 0.00% · institutions 0.32% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To ratify the remuneration payable to the Cost Auditors of the Company for the financial year 2026-27Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To consider and approve the re-appointment and remuneration of Mr. Amit Dahanukar (DIN: 00305636) as Chairman and Managing DirectorSpecialPromoters have an interest in it97.16% for2.84% against
Against: promoters 0.00% · institutions 9.31% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To consider and approve the re-appointment and remuneration of Mr. Chemangala Ramachar Ramesh (Mr. C. R. Ramesh) (DIN: 08876738) as a Whole-Time DirectorSpecial97.00% for3.00% against
Against: promoters 0.00% · institutions 9.83% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To approve the appointment of Ms. Bhumika Batra (DIN: 03502004) as an Independent Director of the CompanySpecial97.28% for2.72% against
Against: promoters 0.00% · institutions 8.92% · other public 0.00%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To consider and approve authorisation for payment of commission to Non-Executive (including Independent) Directors of the CompanySpecial99.93% for0.07% against
Against: promoters 0.00% · institutions 0.23% · other public 0.01%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
- To consider and approve authorisation for payment of commission to Executive Directors of the CompanySpecialPromoters have an interest in it96.83% for3.17% against
Against: promoters 0.00% · institutions 10.38% · other public 0.01%
Turnout: all 61.78% · promoters 98.73% · institutions 75.38% · other public 26.89%
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, 23 Aug 2026, 1 resolution
1,27,711 shareholders on the register on 17 Jul 2026; votes counted by Adv.R.T.RajGuroo / R.T.RAJGUROO & ASSOCIATES.The company's voting result (opens in a new tab)
- Re-Appointment of Ms. Swapna Shah (DIN: 08807901) as Non-Executive Non- Independent Director of the Company and approval of advisory feesOrdinary86.55% for13.45% against
Against: promoters 0.00% · institutions 46.74% · other public 0.05%
Turnout: all 55.40% · promoters 98.73% · institutions 68.26% · other public 18.21%
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, 9 Feb 2026, 3 resolutions
1,37,302 shareholders on the register on 2 Jan 2026; votes counted by Adv.R.T.RajGuroo / R.T.RAJGUROO & ASSOCIATES.The company's voting result (opens in a new tab)
- APPOINTMENT OF MR. JENAMEJAYAN KAMALAM SHIVAN (DIN: 09008166) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANYSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 50.87% · promoters 98.71% · institutions 52.61% · other public 5.22%
- APPROVAL FOR IMPLEMENTATION OF TILAKNAGAR EMPLOYEE STOCK OPTION SCHEME 2025 (“ESOP 2025”) AND TO GRANT STOCK OPTIONS TO THE EMPLOYEES OF THE COMPANYSpecial87.49% for12.52% against
Against: promoters 0.00% · institutions 52.80% · other public 0.03%
Turnout: all 50.87% · promoters 98.71% · institutions 52.61% · other public 5.22%
- APPROVAL OF EXTENSION OF THE SCHEME TO THE EMPLOYEES OF GROUP COMPANIES INCLUDING ITS SUBSIDIARIES AND ASSOCIATE COMPANY(IES)Special80.36% for19.64% against
Against: promoters 0.00% · institutions 82.88% · other public 0.03%
Turnout: all 50.87% · promoters 98.71% · institutions 52.61% · other public 5.22%
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
1,31,414 shareholders on the register on 23 Sep 2025; present: 4 promoters and 104 others; votes counted by Adv.R.T.RajGuroo / R.T.RAJGUROO & ASSOCIATES.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereonMoreLess
Ordinary90.00% for10.00% againstAgainst: promoters 0.00% · institutions 47.92% · other public 0.00%
Turnout: all 59.29% · promoters 98.71% · institutions 70.42% · other public 17.60%
- To declare a Final Dividend on Equity Shares at the rate of Rs.1/- per equity share (10%) for the financial year 2024-25Ordinary99.67% for0.33% against
Against: promoters 0.00% · institutions 1.59% · other public 0.00%
Turnout: all 59.31% · promoters 98.71% · institutions 70.48% · other public 17.60%
- To appoint a director in place of Mr. Amit Dahanukar (DIN: 00305636), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary99.49% for0.51% against
Against: promoters 0.00% · institutions 2.42% · other public 0.01%
Turnout: all 59.31% · promoters 98.71% · institutions 70.48% · other public 17.60%
- To ratify the remuneration payable to the Cost Auditors of the Company for the financial year 2025-26Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 59.31% · promoters 98.71% · institutions 70.48% · other public 17.60%
- To approve the appointment of M/s. Parikh & Associates, as the Secretarial Auditors of the Company for the term of 5 (Five) consecutive financial yearsOrdinary99.67% for0.33% against
Against: promoters 0.00% · institutions 1.59% · other public 0.00%
Turnout: all 59.31% · promoters 98.71% · institutions 70.48% · other public 17.60%
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, 23 Aug 2025, 5 resolutions
1,24,120 shareholders on the register on 18 Jul 2025; votes counted by Adv.R.T.RajGuroo / R.T.RAJGUROO & ASSOCIATES.The company's voting result (opens in a new tab)
- TO CONSIDER AND APPROVE THE RE-APPOINTMENT AND REMUNERATION OF MRS. SHIVANI AMIT DAHANUKAR AS AN EXECUTIVE DIRECTOR AND KEY MANAGERIAL PERSONNELSpecialPromoters have an interest in it92.15% for7.85% against
Against: promoters 0.00% · institutions 45.82% · other public 0.02%
Turnout: all 67.74% · promoters 98.71% · institutions 70.36% · other public 38.32%
- TO CONSIDER INCREASE IN THE EXISTING BORROWING POWERS OF THE COMPANY UNDER SECTION 180 (1) (c) OF THE COMPANIES ACT, 2013Special99.59% for0.41% against
Against: promoters 0.00% · institutions 2.37% · other public 0.03%
Turnout: all 67.74% · promoters 98.71% · institutions 70.36% · other public 38.32%
TO APPROVE THE INCREASE IN EXISTING LIMITS OF THE COMPANY UNDER SECTION 180(1)(a) OF THE COMPANIES ACT, 2013, FOR SALE, CREATION OF MORTGAGE OR CHARGE ON THE ASSETS, PROPERTIES OR UNDERTAKING(S) OF THE COMPANYMoreLess
Special99.59% for0.41% againstAgainst: promoters 0.00% · institutions 2.37% · other public 0.02%
Turnout: all 67.74% · promoters 98.71% · institutions 70.36% · other public 38.32%
- TO CONSIDER AND APPROVE THE RAISING OF FUNDS IN ONE OR MORE TRANCHES, BY ISSUANCE OF SECURITIES BY THE COMPANYSpecial99.23% for0.77% against
Against: promoters 0.00% · institutions 4.48% · other public 0.01%
Turnout: all 67.74% · promoters 98.71% · institutions 70.36% · other public 38.32%
- TO APPROVE FOR THE LIMITS APPLICABLE TO MAKING INVESTMENTS / EXTENDING LOANS AND PROVIDING GUARANTEES OR SECURITIES AS PER SECTION 186 OF THE COMPANIES ACT, 2013Special92.08% for7.92% against
Against: promoters 0.00% · institutions 46.21% · other public 0.02%
Turnout: all 67.74% · promoters 98.71% · institutions 70.36% · other public 38.32%
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 2025, 3 resolutions
1,23,369 shareholders on the register on 13 Aug 2025; present: 4 promoters and 109 others; votes counted by Adv.R.T.RajGuroo / R.T.RAJGUROO & ASSOCIATES.The company's voting result (opens in a new tab)
- INCREASE IN AUTHORISED SHARE CAPITAL AND CONSEQUENT ALTERATION TO THE CAPITAL CLAUSE OF THE MEMORANDUM OF ASSOCIATIONOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.41% · promoters 98.71% · institutions 64.84% · other public 27.00%
- ISSUE OF EQUITY SHARES ON PREFERENTIAL ALLOTMENTSpecial99.40% for0.60% against
Against: promoters 0.00% · institutions 3.24% · other public 0.01%
Turnout: all 62.41% · promoters 98.71% · institutions 64.84% · other public 27.00%
- ISSUE OF CONVERTIBLE WARRANTS ON PREFERENTIAL BASISSpecialPromoters have an interest in it98.88% for1.12% against
Against: promoters 0.00% · institutions 6.06% · other public 0.01%
Turnout: all 62.41% · promoters 98.71% · institutions 64.84% · other public 27.00%
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 2024, 6 resolutions
Present: 4 promoters and 109 others.The company's voting result (opens in a new tab)
- Item No.1 :Adoption of the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2024, Auditors’ Report thereon and the Directors’ ReportOrdinary95.34% for4.66% against
Against: promoters 0.00% · institutions 94.58% · other public 0.00%
Turnout: all 51.03% · promoters 98.71% · institutions 18.66% · other public 19.16%
- Item No.2 : Declaration of final dividend on Equity shares of the Company at the rate of Rs.0.50 per equity share (5%) for the financial year 2023-24Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.02% · other public 0.01%
Turnout: all 51.03% · promoters 98.71% · institutions 18.66% · other public 19.16%
- Item No.3 : Re- appointment of Mrs. Shivani Amit Dahanukar (DIN: 00305503) as a Director of the Company, liable to retire by rotationOrdinary95.34% for4.66% against
Against: promoters 0.00% · institutions 94.58% · other public 0.03%
Turnout: all 51.03% · promoters 98.71% · institutions 18.66% · other public 19.16%
Item No.4 :Re-appointment of M/s. Harshil Shah & Company, Chartered Accountants (ICAI Firm Registration No. 141179W) as the Statutory Auditors of the Company for a second term commencing from the conclusion of 89th Annual General Meeting till the conclusion of the 92nd Annual General Meeting of the CompanyMoreLess
Ordinary97.91% for2.09% againstAgainst: promoters 0.00% · institutions 42.38% · other public 0.03%
Turnout: all 51.03% · promoters 98.71% · institutions 18.66% · other public 19.16%
- Item No.5 : Ratify the remuneration payable to the Cost Auditors of the Company for the financial year 2024-25Ordinary99.95% for0.04% against
Against: promoters 0.00% · institutions 0.82% · other public 0.03%
Turnout: all 51.03% · promoters 98.71% · institutions 18.66% · other public 19.16%
- Item No.6 :Consider and approve revision in advisory fees and fixation of tenure of Ms. Swapna Shah, (DIN: 08807901) Non-Executive Director of the CompanyOrdinary99.92% for0.08% against
Against: promoters 0.00% · institutions 1.58% · other public 0.03%
Turnout: all 51.03% · promoters 98.71% · institutions 18.66% · other public 19.16%
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, 27 Aug 2024, 5 resolutions
The company's voting result (opens in a new tab)
- APPROVAL OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”) AND TO GRANT STOCK APPRECIATION RIGHTS (SARs) UNITS TO THE EMPLOYEES OF THE COMPANY.Special97.56% for2.44% against
Against: promoters 0.00% · institutions 14.75% · other public 3.41%
Turnout: all 54.26% · promoters 95.41% · institutions 57.90% · other public 18.86%
- APPROVAL FOR EXTENSION OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”) TO EMPLOYEES OF GROUP COMPANY(IES) INCLUDING ITS SUBSIDIARY(IES)/ ASSOCIATE COMPANY(IES).Special97.56% for2.44% against
Against: promoters 0.00% · institutions 14.75% · other public 3.42%
Turnout: all 54.26% · promoters 95.41% · institutions 57.90% · other public 18.86%
- IMPLEMENTATION OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”) THROUGH THE TRUST.Special97.55% for2.45% against
Against: promoters 0.00% · institutions 14.75% · other public 3.43%
Turnout: all 54.26% · promoters 95.41% · institutions 57.90% · other public 18.86%
- AUTHORIZATION TO THE TRUST FOR SECONDARY ACQUISITIONSpecial97.56% for2.44% against
Against: promoters 0.00% · institutions 14.75% · other public 3.43%
Turnout: all 54.26% · promoters 95.41% · institutions 57.90% · other public 18.86%
- APPROVAL FOR PROVISION OF MONEY BY THE COMPANY TO THE TRUST FOR PURCHASE OF THE SHARES OF THE COMPANY FOR IMPLEMENTATION OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”).Special97.56% for2.44% against
Against: promoters 0.00% · institutions 14.75% · other public 3.42%
Turnout: all 54.26% · promoters 95.41% · institutions 57.90% · other public 18.86%
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.
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 22 Sep 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)
To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereonMoreLess
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: Qualified opinion on Standalone and Consolidated Financial Statements on the same matter from past many years. The recurring qualification has not been adequately addressed by the Management.
1 for1 against- To declare a Final Dividend on Equity Shares at the rate of Rs 1 (Rupee One Only) per equity share (10%) for the financial year 2025-26
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance Concern has been raised under resolution #1, since dividend payment constitutes an appropriation of profits, it cannot proceed unless the financial statements are approved.
1 for1 against - To appoint a director in place of Mr. Chemangala Ramachar Ramesh (DIN: 08876738), who retires by rotation and being eligible, offers himself for re-appointment2 for0 against
- To ratify the remuneration payable to the Cost Auditors of the Company for the financial year 2026-272 for0 against
- To consider and approve the re-appointment and remuneration of Mr. Amit Dahanukar (DIN: 00305636) as Chairman and Managing Director
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance concern: Proposed remuneration package does not include an absolute cap on variable pay. Further, proposed remuneration distribution appears to be skewed and excessive in favour of the Promoter Chairman and Managing Directors.
1 for1 against - To consider and approve the re-appointment and remuneration of Mr. Chemangala Ramachar Ramesh (Mr. C. R. Ramesh) (DIN: 08876738) as a Whole-Time Director2 for0 against
- To approve the appointment of Ms. Bhumika Batra (DIN: 03502004) as an Independent Director of the Company
Against Angel One Mutual Fund
- Angel One Mutual FundTransparency Concern: Lack of clarity regarding the nature of the pecuniary relationship between the proposed appointee and the Company, based on the relationship identified through the law firm.
1 for1 against - To consider and approve authorisation for payment of commission to Non-Executive (including Independent) Directors of the Company2 for0 against
- To consider and approve authorisation for payment of commission to Executive Directors of the Company
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: There are no individual caps on the maximum commission payable to each Director, although the Company has capped the overall commission which appears to be reasonable with size and performance of the Company. Since no individual cap is mentioned and there is evidence of bias and skewness in remuneration practice towards promoter Executive Director, the same bias cannot be ruled out in distribution of commission. Hence, transparency and governance concern identified.
1 for1 against
Mutual fund votes, meeting of 23 Aug 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)
- Re-Appointment of Ms. Swapna Shah (DIN: 08807901) as Non-Executive Non- Independent Director of the Company and approval of advisory fees
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance concern: Low Attendance at the Audit Committee meetings held in the FY 2024-25 and no specific justification for her absence.
1 for1 against
6 earlier meetings
Mutual fund votes, meeting of 9 Feb 2026, 7 fund houses
- APPOINTMENT OF MR. JENAMEJAYAN KAMALAM SHIVAN (DIN: 09008166) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY7 for0 against
- APPROVAL FOR IMPLEMENTATION OF TILAKNAGAR EMPLOYEE STOCK OPTION SCHEME 2025 (“ESOP 2025”) AND TO GRANT STOCK OPTIONS TO THE EMPLOYEES OF THE COMPANY
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundNon-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to Nomination & Remuneration Committee to determine Exercise Price. Governance concern: Potential economic benefits to a single employee appear to be disproportionate and excessive.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance concern: Potential economic benefits to a single employee appear to be disproportionate and excessive.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for5 against - APPROVAL OF EXTENSION OF THE SCHEME TO THE EMPLOYEES OF GROUP COMPANIES INCLUDING ITS SUBSIDIARIES AND ASSOCIATE COMPANY(IES)
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundInterlinked with Resolution #2. Governance concern: Benefit extended to associates Companies without justification & without a cost reimbursement provision.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant under SEBI SBEB Regulations: Interlinked with Resolution #2. Governance concern: Benefit extended to associates Companies without justification & without a cost reimbursement provision.
- Mahindra Manulife Mutual FundThrough resolution #3, the company is seeking approval to extend the Tilaknagar Employees Stock Option Scheme 2025 to eligible employees of group companies including employees of group companies, subsidiary companies, and associate companies. We do not support the grant of options to employees of group, holding or associate companies. The enabling nature of the approval could allow the company to grant these options to future subsidiaries and associates which may or may not have their own ESOP plans. Given this, we do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
1 for6 against
Mutual fund votes, meeting of 30 Sep 2025, 7 fund houses
To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereonMoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundGovernance & Transparency Concern: Qualified opinion on Standalone and Consolidated Financial statements on the same matter from past may years. Not adequately addressed by the Management.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for5 against- To declare a Final Dividend on Equity Shares at the rate of Rs.1/- per equity share (10%) for the financial year 2024-25
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern has been raised under resolution #1, since dividend payment constitutes an appropriation of profits, it cannot proceed unless the financial statements are approved.
- Groww Mutual Fund, Motilal Oswal Mutual FundSufficient funds for payment of dividend. Governance Concern has been raised under resolution #1, since dividend payment constitutes an appropriation of profits, it cannot proceed unless the financial statements are approved.
4 for3 against - To appoint a director in place of Mr. Amit Dahanukar (DIN: 00305636), who retires by rotation and being eligible, offers himself for re-appointment
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Combined position of Chairman and Managing Director.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing Director.
4 for3 against - To ratify the remuneration payable to the Cost Auditors of the Company for the financial year 2025-267 for0 against
- To approve the appointment of M/s. Parikh & Associates, as the Secretarial Auditors of the Company for the term of 5 (Five) consecutive financial years
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundTransparency concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of the proposed Auditors. Transparency concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
4 for3 against
Mutual fund votes, meeting of 23 Aug 2025, 5 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- TO CONSIDER AND APPROVE THE RE-APPOINTMENT AND REMUNERATION OF MRS. SHIVANI AMIT DAHANUKAR AS AN EXECUTIVE DIRECTOR AND KEY MANAGERIAL PERSONNEL
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund
- Angel One Mutual FundTransparency Concern: Poor Attendance Performance in the past; Lack of clarity with regards to the Director’s Attendance Performance during FY 2025.
- Bandhan Mutual FundMs. Shivani Amit Dahanukar, 48, is the Promoter and Executive Director of the company, where she oversees the sales and marketing function. She also heads the community welfare activities of the Group in nutrition, primary education and healthcare. She has been on the board as Non-Executive Director since 28 September 2006 and was subsequently appointed as Executive Director from 1 June 2022. She attended all five board meetings held in FY25. Her FY25 pay aggregated Rs. 20.0 mn. Her remuneration structure is now changing to a fixed pay of Rs. 35.0 mn – in addition, she will be eligible for commission and perquisites. There is no guidance on the commission and therefore, we are unable to estimate her proposed remuneration. Further, her pay structure includes the reimbursement of medical expenses for self and family - we believe such expenses are personal in nature and must be borne by the director themselves. The company must cap the quantum of such expenses in absolute terms and disclose if such reimbursements are offered to all other employees of the company. While we support her reappointment as Executive Director, we are unable to support the proposed remuneration. Therefore, we do not support the resolution.
- Groww Mutual FundCompliant with law. No concern on the merits of proposed appointee. Transparency Concern: Poor Attendance Performance in the past; Lack of clarity w.r.t. the Director’s Attendance Performance during FY 2025.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
1 for4 against TO APPROVE THE INCREASE IN EXISTING LIMITS OF THE COMPANY UNDER SECTION 180(1)(a) OF THE COMPANIES ACT, 2013, FOR SALE, CREATION OF MORTGAGE OR CHARGE ON THE ASSETS, PROPERTIES OR UNDERTAKING(S) OF THE COMPANYMoreLess
Against Angel One Mutual Fund, Groww Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: Creation of Charge against Assets / Properties / etc. is inter-linked to the Borrowings undertaken by the Company. Due to the inter-linkage of the Resolution with Resolution #2 (which is missing a fundamental information), similar concern shall arise for Creation of Charge for the said Borrowings.
- Groww Mutual FundCompliant with law. Governance & Transparency Concern: Creation of Charge against Assets / Properties / etc. is inter-linked to the Borrowings undertaken by the Company. Due to the inter-linkage of the Resolution with Resolution #2 (which is missing a fundamental information), similar concern shall arise for Creation of Charge for the said Borrowings.
3 for2 against- TO CONSIDER AND APPROVE THE RAISING OF FUNDS IN ONE OR MORE TRANCHES, BY ISSUANCE OF SECURITIES BY THE COMPANY
Against Angel One Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund
- Angel One Mutual FundGovernance Concern: Proposed issuance will lead to significant dilution; the Company should explain as to why Rights Issue was not opted for raising of funds, as it prevents such instances of excessive dilution. Transparency Concern: Issuance of ₹ 4,000 Crores under Debt Securities appears to be significant with regards to the Company’s current financial standing; the Company has not justified as to how it will sustain such amounts of Borrowings.
- Groww Mutual FundCompliant with law. Governance Concern: Proposed issuance will lead to significant dilution; the Company should explain as to why Rights Issue was not opted for raising of funds, as it prevents such instances of excessive dilution. Transparency Concern: Issuance of ? 4,000 Crores under Debt Securities appears to be significant w.r.t. the Company’s current financial standing; the Company has not justified as to how it will sustain such amounts of Borrowings.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for3 against - TO APPROVE FOR THE LIMITS APPLICABLE TO MAKING INVESTMENTS / EXTENDING LOANS AND PROVIDING GUARANTEES OR SECURITIES AS PER SECTION 186 OF THE COMPANIES ACT, 2013
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: Lack of adequate justifications & disclosure. Umbrella approval to cover any person/entity in the proposed limit.
- Bandhan Mutual FundThe company should have provided the current utilization of limits under Section 186 of the Companies Act, 2013 in the shareholder notice. As on 31 March 2024, Tilaknagar Industries Limited has outstanding loans and investments of Rs. 0.6 bn which constitutes ~13.6% of the automatic limit (Rs. 4.6 bn) for such transactions under Section 186. The company seeks to increase the limit to Rs. 5.0 bn. Given that the company has sufficient headroom under the existing limit, the rationale for such increase is unclear. While the company has stated that it requires flexibility in utilising surplus funds for business requirements, potential acquisitions, strategic investments, and growth initiatives of itself and its subsidiaries; granular details of these transactions have not been disclosed. This is an enabling approval, and it allows the company to give loans/ guarantees/ provide securities to any company in which directors are interested, including promoter companies and companies with common directorships. We believe the company must disclose granular details including names of these companies, the nature and size of their operations and terms of support, to enable shareholders to make an informed decision. In the absence of disclosures, we are unable to support this resolution.
- Groww Mutual FundCompliant with the law. Governance & Transparency Concern: Lack of adequate justifications & disclosure. Umbrella approval to cover any person/entity in the proposed limit.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
1 for4 against
1 proposal not matched to one resolution
To borrow from time to time all such sums of money as they may deem requisite for the purpose of the business (including but not limited to, financing any capital or revenue requirements, or funding new business ventures or organic / inorganic opportunities) of the Company, notwithstanding that moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business), may exceed the aggregate of the paid-up share capital of the Company, free reserves and securities premium, provided, however, the total amount so borrowed / to be borrowed (other than temporary loans from the Company’s bankers) and outstanding at any point of time shall not exceed an aggregate sum of INR 5,000 crores (inclusive of up to INR 400 crores.MoreLess
Against Angel One Mutual Fund, Groww Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: Non-Disclosure of Existing Borrowing Limit amount; it cannot be ascertained if the Company has utilized majority of its Borrowing Limit. The proposed Borrowing Limit is significant in nature – It is not clear if the Company will be able to sustain the borrowing.
- Groww Mutual FundCompliant with law. Governance & Transparency Concern: Non-Disclosure of Existing Borrowing Limit amount; it cannot be ascertained if the Company has utilized majority of its Borrowing Limit. The proposed Borrowing Limit is significant in nature – It is not clear if the Company will be able to sustain the borrowing.
3 for2 against
Mutual fund votes, meeting of 20 Aug 2025, 5 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- ISSUE OF EQUITY SHARES ON PREFERENTIAL ALLOTMENT
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Excessive dilution and no justification for not opting rights issue. Transparency concern: Certificate from Company Secretary not disclosed on website of the Company.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Excessive dilution and no justification for not opting rights issue. Transparency concern: Certificate from Company Secretary not disclosed on website of the Company.
2 for3 against
2 proposals not matched to one resolution
To create, issue, offer and allot, from time to time, in one or more tranches, upto 4,57,15,000 convertible warrants (Warrants) at a price of Rs. 382/- per Warrant with a right to the Warrant holders to apply for and be allotted 1 Equity Share of the face value of Rs. 10/- each of the Company (Equity Shares) at a premium of Rs. 372/- per share for each Warrant within a period of 18 months from the date of allotment of the Warrants, for an amount upto Rs. 17,46,31,30,000/-.MoreLess
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Excessive dilution and no justification for not opting rights issue. Warrants priced exactly at par with Equity Shares. No explanation as to why preferential offer is being made to promoters. Transparency concern: Inadequate rationale for issuing warrants. Certificate from Company Secretary not disclosed on website of the Company.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Excessive dilution and no justification for not opting rights issue. Warrants priced exactly at par with Equity Shares through ICDR Pricing Mechanism. No explanation as to why preferential offer is being made to promoters. Transparency concern: Inadequate rationale for issuing warrants. Certificate from Company Secretary not disclosed on website of the Company.
2 for3 againstTo increase in the Authorised Share Capital of the Company from Rs. 226,05,00,000 divided into 22,60,50,000 equity shares of Rs. 10/- each to Rs. 310,00,00,000/- divided into 31,00,00,000 equity shares of Rs. 10/- each by creation of additional 8,39,50,000 Equity shares of Rs.10/- each ranking pari-passu with the existing equity shares of the Company.MoreLess
5 for0 against
Mutual fund votes, meeting of 27 Sep 2024, 3 fund houses
- Item No.1 :Adoption of the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2024, Auditors’ Report thereon and the Directors’ Report
Against Bandhan Mutual Fund, Groww Mutual Fund
- Bandhan Mutual FundThe company has not carried out impairment assessment of one of the ENA plants as required by Indian Accounting Standard (Ind AS 36) ‘Impairment of Assets’ though there is an indication of impairment. The auditors have issued a qualified opinion regarding this matter. The auditors have raised an emphasis of matter regarding the search operations carried out by the Income tax authorities at certain premises of the Company in February 2024. Pending the outcome of the search proceedings, the consequent impact on the financial statements for the year ended 31 March 2024, if any, is currently not ascertainable. The audit trail (edit log) facility was not enabled at the database level to log any direct data changes for the accounting software used.
- Groww Mutual FundQualified Opinion appearing on Standalone and Consolidated financial statements for the 9th year consecutively. We are in line with the auditor's opinion and hence, we vote against the resolution
1 for2 against - Item No.2 : Declaration of final dividend on Equity shares of the Company at the rate of Rs.0.50 per equity share (5%) for the financial year 2023-24
Against Groww Mutual Fund
- Groww Mutual FundQualified Opinion appearing on Standalone and Consolidated financial statements for the 9th year consecutively. We are in line with the auditor's opinion and hence, we vote against the resolution
2 for1 against - Item No.3 : Re- appointment of Mrs. Shivani Amit Dahanukar (DIN: 00305503) as a Director of the Company, liable to retire by rotation
Against Bandhan Mutual Fund, Groww Mutual Fund
- Bandhan Mutual Fund, Groww Mutual FundRe-appointment compliant with law. Governance Concern: Poor performance in Board Meetings; no justification provided by the Company.
1 for2 against Item No.4 :Re-appointment of M/s. Harshil Shah & Company, Chartered Accountants (ICAI Firm Registration No. 141179W) as the Statutory Auditors of the Company for a second term commencing from the conclusion of 89th Annual General Meeting till the conclusion of the 92nd Annual General Meeting of the CompanyMoreLess
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant under Section 139 of Companies Act 2013: Proposed term for re-appointment of Auditors is 3 years instead of 5.
0 for3 against- Item No.5 : Ratify the remuneration payable to the Cost Auditors of the Company for the financial year 2024-253 for0 against
- Item No.6 :Consider and approve revision in advisory fees and fixation of tenure of Ms. Swapna Shah, (DIN: 08807901) Non-Executive Director of the Company3 for0 against
Mutual fund votes, meeting of 27 Aug 2024, 3 fund houses
- APPROVAL OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”) AND TO GRANT STOCK APPRECIATION RIGHTS (SARs) UNITS TO THE EMPLOYEES OF THE COMPANY.
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosure of Exercise price/Exercise Formula. Governance Concern: Potential maximum benefits to a single employee.
- Motilal Oswal Mutual FundNon-disclosure of SAR price & Exercise Price as required under SEBI Regulations. Excessive benefit can be extended to an individual employee
0 for3 against - APPROVAL FOR EXTENSION OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”) TO EMPLOYEES OF GROUP COMPANY(IES) INCLUDING ITS SUBSIDIARY(IES)/ ASSOCIATE COMPANY(IES).
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fundinterlinked with Resolution#1, Governance Concern: Benefit extended to Associate Companies without justification or cost reimbursement provision.
- Motilal Oswal Mutual FundGovernance Concern: Scheme extends to Associate companies.
0 for3 against - IMPLEMENTATION OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”) THROUGH THE TRUST.
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundInter-linked to Resolution #1 & Resolution #2
0 for3 against - AUTHORIZATION TO THE TRUST FOR SECONDARY ACQUISITION
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundInter-linked to Resolution #1 & Resolution #2
0 for3 against - APPROVAL FOR PROVISION OF MONEY BY THE COMPANY TO THE TRUST FOR PURCHASE OF THE SHARES OF THE COMPANY FOR IMPLEMENTATION OF TILAKNAGAR STOCK APPRECIATION RIGHTS SCHEME 2024 (“SAR SCHEME”).
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundInter-linked to Resolution #1 & Resolution #2
0 for3 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 boughtRound the Cocktails Private Limited (“Bartisans”)Since 26 Jun 2026
8.27% bought in the quarter; holding 41.45%, from 33.18%
- Tax disputeIncome Tax DepartmentSince 17 Feb 2025The company has filed an appeal against the order passed by the CIT(A) before the Income Tax AppellateTribunal (ITAT).
At the filing before: Reassessment proceedings u/s 147 were conducted following a search action on the company in February 2024 and order was passed u/s 143(3) / 147 r.w.s. 143(3) for AY 2016-17 to AY 2024-25. In the orders, certains additions / disallowances were made by the Assessing Officer (AO) and the same was adjusted against the carry forward losses of the company. The year wise demand/refund and the consequent carry forward losses of Rs 32.79 crores as on March 31, 2024, is mentioned in our intimation letter dated Feb 1, 2025 & March 29, 2025. Being aggrieved by the said order, the company has filed an appeal before the CIT(A), challenging the additions / disallowances made by the Assessing Officer. The company made submissions on time-to-time basis during various hearings. The CIT(A) heard the matter and passed an order partially in favor of the company for AY 2016-17 to AY 2024-25 on March 31,2026.MoreLess
- Tax disputeDeputy Commissioner of State Tax, MaharashtraSince 20 Jun 2025The matter was heard and post submission of the Statutory Forms, the appellate authority passed a favorable order and refund was granted.
At the filing before: The Sales tax office has conducted CST assessment for FY 2019-20 and has raised the demand of Rs 6.36 lakhs towards non-submission of certain statutory forms .The company has filed an appeal agsint the said order before the first appellate order.MoreLess
- Tax disputeDeputy Commissioner of State Tax, MaharashtraSince 17 Jun 2026
The Sales tax office has conducted CST assessment for FY 2021-22 and has raised the demand of Rs 11.96 lakhs towards non-submission of certain statutory forms .The company does not expect any material impact on the financial position, operation, or other activities of the company.The company has paid the said demand.MoreLess
At the filing before: The said matter was raised during the current Qtr.
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
- Yes
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesSep 2025, checked by Crisil Ratings Limited | 2,295.63 | 1. Acquisition of Business Undertaking of Pernod Ricard India Private Limited, as a going concern on a slump sale basis related to the business of production, bottling, marketing and sale of alcoholic and other beverages under the Imperial Blue Brands. | 1,300.00 | 1,296.78 | No |
| Preferential IssuesSep 2025, checked by Crisil Ratings Limited | 2,295.63 | Working Capital | 500.00 | 499.49 | No |
| Preferential IssuesSep 2025, checked by Crisil Ratings Limited | 2,295.63 | For general corporate purposes | 495.63 | 296.80 | No |