United Foodbrands logo

United Foodbrands CEO, MD, chairman, board of directors and AGM

NSE: UFBLBSE: 543283Leisure ServicesSmall Cap

Formerly Barbeque Nation Hospitality
Last close ₹604.25up ₹1.00 (0.17%)BSE ₹604.20

Share price at the NSE close on 23 Oct 2026. Previous close ₹603.25.

52-week range of traded prices to 23 Oct 2026
₹172.34Low, 30 Jan 2026₹850.00High, 24 Aug 2026
Market cap
₹2,364 Cr1,361st largest listed
P/E
Lossover the last 12 months
P/B
7.6
Dividend yield
Nonein the last 12 months
ROE
−11.8%
ROCE
5.7%
Debt to equity
0.42
Volume, NSE
77,974

United Foodbrands 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

  • ChairpersonABHAY CHINTAMAN CHAUDHARI
  • Managing directorKAYUM RAZAK DHANANI
  • Chief executiveRAHUL AGRAWAL
  • Company Secretary and Compliance OfficerNagamani C Y

8 directors3 independent2 executive3 non-executive

  • ABHAY CHINTAMAN CHAUDHARI · ChairpersonIndependent · joined Feb 2017 · reappointed Sep 2022 · 112 months as independent · 3 listed boards · 3 as independent · 7 committee seats, 3 as chair
  • KAYUM RAZAK DHANANI · Managing directorExecutive · joined Nov 2012 · 2 listed boards · 3 committee seats
  • RAHUL AGRAWAL · Chief executiveExecutive · joined Dec 2020 · 1 listed board · 1 committee seat
  • ASHOK REVATHYIndependent · joined Mar 2022 · reappointed Mar 2022 · 51 months as independent · 5 listed boards · 5 as independent · 9 committee seats, 5 as chair
  • TARUN KHANNAIndependent · joined May 2025 · reappointed May 2025 · 13 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • RAOOF RAZAK DHANANINon-executive · joined Jul 2015 · 4 listed boards · 4 committee seats
  • SUCHITRA DHANANINon-executive · joined Jul 2015 · 1 listed board
  • AZHAR YUSUF DHANANINon-executive · joined Aug 2023 · 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.

2 directors who left
  • AJAY NANAVATI VIPIN, left 22 May 2025: Others
  • DEVINJIT SINGH, left 3 Feb 2025: Others

Committees and meetings

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

  • Board

    • 19 May 20266 of 8 present3 independent · 76 days in between
    • 3 Mar 20265 of 8 present3 independent · 31 days in between
    • 30 Jan 20267 of 8 present3 independent

  • Audit Committee

    Chair ASHOK REVATHY

    ABHAY CHINTAMAN CHAUDHARI, KAYUM RAZAK DHANANI

    • 19 May 20262 of 3 present2 independent · 76 days in between
    • 3 Mar 20263 of 3 present2 independent · 31 days in between
    • 30 Jan 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair TARUN KHANNA

    ABHAY CHINTAMAN CHAUDHARI, RAOOF RAZAK DHANANI

    • 19 May 20262 of 3 present2 independent · 108 days in between
    • 30 Jan 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair ABHAY CHINTAMAN CHAUDHARI

    KAYUM RAZAK DHANANI, RAHUL AGRAWAL

    No meeting listed in the filing.

  • Risk Management Committee

    Chair KAYUM RAZAK DHANANI

    RAHUL AGRAWAL, ASHOK REVATHY

    • 19 May 20262 of 3 present1 independent

  • Corporate Social Responsibility Committee

    KAYUM RAZAK DHANANI, ABHAY CHINTAMAN CHAUDHARI, SUCHITRA DHANANI

    • 19 May 20262 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.

  • S.R. Batliboi & Associates LLP (ICAI Firm Registration No: 101049W/E300004)Peer-review certificate valid to Jul 2027

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.

United Foodbrands 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.United Foodbrands share news and announcements

Annual general meeting, 10 Sep 2026

30,320 shareholders on the register on 3 Sep 2026; present: 10 promoters and 39 others; votes counted by Parameshwar G. Bhat / Parameshwar G. Bhat.The company's voting result (opens in a new tab)

  1. Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 66.11% · promoters 99.45% · institutions 77.98% · other public 26.99%

  2. Re-appointment of Mr. Azhar Yusuf Dhanani (DIN: 07694732), Director, who retires by rotation.
    OrdinaryPromoters have an interest in it
    74.99% for25.01% against

    Against: promoters 0.00% · institutions 76.89% · other public 0.00%

    Turnout: all 66.11% · promoters 99.45% · institutions 77.98% · other public 26.99%

  3. Re-appointment of Mr. Rahul Agrawal (DIN: 07194134), Director, who retires by rotation.
    Ordinary
    99.95% for0.05% against

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

    Turnout: all 66.11% · promoters 99.45% · institutions 77.98% · other public 26.99%

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, 19 Mar 2026, 4 resolutions

37,509 shareholders on the register on 13 Feb 2026; votes counted by Parameshwar G Bhat / Parameshwar G Bhat.The company's voting result (opens in a new tab)

  1. Re-pricing of Employee Stock Options granted during the financial year 2023-24 under the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2015” with the revised Vesting Period
    Special
    87.40% for12.60% against

    Against: promoters 0.00% · institutions 41.05% · other public 0.17%

    Turnout: all 73.33% · promoters 99.84% · institutions 84.87% · other public 42.35%

  2. Re-pricing of Employee Stock Options granted during the financial years 2023-24 and 2024-25 under the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2022” with the revised Vesting PeriodMoreLess
    Special
    87.40% for12.60% against

    Against: promoters 0.00% · institutions 41.05% · other public 0.17%

    Turnout: all 73.33% · promoters 99.84% · institutions 84.87% · other public 42.35%

  3. Modification of the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2015”.
    Special
    87.40% for12.60% against

    Against: promoters 0.00% · institutions 41.05% · other public 0.17%

    Turnout: all 73.33% · promoters 99.84% · institutions 84.87% · other public 42.35%

  4. Modification of the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2022
    Special
    87.40% for12.60% against

    Against: promoters 0.00% · institutions 41.05% · other public 0.18%

    Turnout: all 73.33% · promoters 99.84% · institutions 84.87% · other public 42.35%

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.

Mutual fund votes, meeting of 10 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026.
    1 for0 against
  • Re-appointment of Mr. Azhar Yusuf Dhanani (DIN: 07694732), Director, who retires by rotation.
    Against Old Bridge Mutual Fund
    • Old Bridge Mutual FundAzhar Yusuf Dhanani, 28, belongs to the promoter family. He is serving on the board since 7 August 2023. He is associated with Sayaji Foods Private Limited since 2017, where he handles marketing, sales and operations domain. He is a management graduate from Indian School of Management and Entrepreneurship (ISME) and has also completed the International Baccalaureate Diploma Program from the Singapore International School. While his appointment is in line with the statutory requirements, we note that he has attended two out of five (40%) board meetings held in FY26 and 9/13 (69%) board meetings held over a three-year period. Given his nascent vintage in the industry, his association with the promoter family, and lack of regular attendance, we do not support his appointment to the board.
    0 for1 against
  • Re-appointment of Mr. Rahul Agrawal (DIN: 07194134), Director, who retires by rotation.
    1 for0 against

Mutual fund votes, meeting of 19 Mar 2026, 3 fund houses

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

  • Re-pricing of Employee Stock Options granted during the financial year 2023-24 under the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2015” with the revised Vesting Period
    Against ICICI Prudential Mutual Fund
    • ICICI Prudential Mutual FundBy repricing, the company is attempting to protect employees’ downside risk; this could result in a misalignment arising from shareholders continuing to bear the downside risk of share price decline. We recommend the company to come up with a fresh scheme, if required. We do not support the resolution.
    1 for1 against
  • Re-pricing of Employee Stock Options granted during the financial years 2023-24 and 2024-25 under the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2022” with the revised Vesting PeriodMoreLess
    Against ICICI Prudential Mutual Fund
    • ICICI Prudential Mutual FundBy repricing, the company is attempting to protect employees’ downside risk; this could result in a misalignment arising from shareholders continuing to bear the downside risk of share price decline. We recommend the company to come up with a fresh scheme, if required. We do not support the resolution.
    1 for1 against
  • Modification of the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2015”.
    Against ICICI Prudential Mutual Fund
    • ICICI Prudential Mutual FundOur view is linked to our view on resolution #1. We do not support the resolution.
    1 for1 against
  • Modification of the “Barbeque Nation Hospitality Limited – Employee Stock Option Plan 2022
    Against ICICI Prudential Mutual Fund
    • ICICI Prudential Mutual FundOur view is linked to our view on resolution #2. We do not support the resolution.
    1 for1 against
4 proposals not matched to one resolution
  • Amend Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2015 (ESOP 2015) to allow repricing of options granted in FY24 to Rs. 173.89 per share and extend the vesting period
    Against UTI Mutual Fund
    • UTI Mutual FundThe company seeks approval to re-price stock options granted in FY24 to Rs. 173.89 per share which was the closing price on the NSE on 29 January 2026 and extend the vesting period for the re-priced options. In the 2023 AGM the company has already once repriced the options granted under ESOP 2015 from Rs. 999.45 – 1220.25 to Rs. 721.40 per option. In-principle we are against repricing of options.
    0 for1 against
  • Amend Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2022 (ESOP 2022) to allow repricing of options granted in FY24 and FY25 to Rs. 173.89 per share and extend the vesting period
    Against UTI Mutual Fund
    • UTI Mutual FundThe company seeks approval to re-price stock options granted in FY24 and FY25 to Rs. 173.89 per share which was the closing price on the NSE on 29 January 2026 and extend the vesting period for the re-priced options. In the 2023 AGM the company has already once repriced the options granted under ESOP 2022 from Rs. 860.10 – 1148.25 to Rs. 721.40 per option. In-principle we are against repricing of options.
    0 for1 against
  • Modify Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2015 (ESOP 2015)
    Against UTI Mutual Fund
    • UTI Mutual FundUnder ESOP Plan 2015, the maximum vesting period for re-priced options is capped at five years (increased from three years to five years in the 2023 AGM), and the maximum exercise period is upto five years from the date of vesting. Through the proposed amendments, the company seeks to authorize the Nomination and Remuneration Committee to determine and extend the exercise period for ESOPs, upto a maximum period of ten years. Further, the maximum vesting period for re-priced ESOPs will be increased to ten years from the date of initial grant. Our view is linked to our view on resolution #1. We do not support the resolution.
    0 for1 against
  • Modify Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022 (ESOP 2022)
    Against UTI Mutual Fund
    • UTI Mutual FundUnder ESOP Plan 2022, the maximum vesting period for re-priced options is capped at five years (increased from three years to five years in the 2023 AGM), and the maximum exercise period is upto five years from the date of vesting. Through the proposed amendments, the company seeks to authorize the Nomination and Remuneration Committee to determine and extend the exercise period for ESOPs, upto a maximum period of ten years. Further, the maximum vesting period for re-priced ESOPs will be increased to ten years from the date of initial grant. Our view is linked to our view on resolution #2. We do not support the resolution.
    0 for1 against
6 earlier meetings

Mutual fund votes, meeting of 4 Sep 2025, 5 fund houses

  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2025
    1 for0 against
  • Appoint Parameshwar Ganapati Bhat as secretarial auditor for five years from FY26 and fix his remuneration
    1 for0 against
  • Appointment of Mr. Parameshwar Ganapati Bhat, a Peer Reviewed Practising Company Secretary (M. No.: FCS 8860; C.P. No.:11004), as Secretarial Auditor of the Company for a period of 5 consecutive years, commencing from the Financial Year 2025-26 to the Financial Year 2029-30, at such remuneration and on such terms and conditions as may be determined by the Board of Directors, and to avail any other services, and to obtain any certificates or reports, as may be permissible under the applicable laws.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: Previous auditors’ remuneration not disclosed; it cannot be ascertained as to whether there is any material change in the proposed Audit fee or not.
    3 for1 against
  • Approve change in name of the company from ‘Barbeque-Nation Hospitality Limited’ to ‘United Foodbrands Limited’ and consequent amendment to Memorandum and Articles of Association
    1 for0 against
  • Re-appointment of Mr. Rahul Agrawal (DIN: 07194134) as Chief Executive Officer and Whole-Time Director of the Company for a further period of 5 consecutive years, with effect from December 31, 2025 to December 30, 2030 and including remuneration.MoreLess
    4 for0 against
  • Re-appointment of Mr. Raoof Razak Dhanani (DIN: 00174654) who retires by rotation at this Annual General Meeting, and being eligible offers himself for re-appointment.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Director holds two full-time positions with none of these entities holding any stake in other entity, which results in excessive time commitment.
    3 for1 against
  • Re-appointment of Mrs. Suchitra Dhanani (DIN: 00712187) who retires by rotation at this Annual General Meeting, and being eligible offers herself for reappointment.
    4 for0 against
  • Reappoint Ms. Suchitra Dhanani (DIN: 07694732) as Non-Executive Non-Independent Director, liable to retire by rotation
    1 for0 against
  • Reappoint Rahul Agrawal (DIN: 07194134) as CEO and Whole time Director for five years from 31 December 2025 and fix his remuneration as minimum remuneration
    1 for0 against
  • Reappoint Raoof Razak Dhanani (DIN: 00174654) as Non-Executive Non-Independent Director, liable to retire by rotation
    1 for0 against
  • To change name of the Company from Barbeque-nation Hospitality Limited to United Foodbrands Limited.
    4 for0 against
  • To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 i.e., the Balance Sheet as at March 31, 2025, the Statement of Profit and Loss, the Statement of Changes in Equity and the Cash Flow Statement for the year ended March 31, 2025 together with the Auditors’ Report and Board’s Report thereon.MoreLess
    4 for0 against

Mutual fund votes, meeting of 31 Jul 2025, 5 fund houses

  • Appoint Tarun Khanna (DIN: 02306480) as Independent Director for five years from 22 May 2025
    1 for0 against
  • Appointment of Mr. Tarun Khanna (DIN: 02306480) as an Independent Director of the Company, for a period of 5 (five) consecutive years with effect from May 22, 2025 to May 21, 2030 and that he shall not be liable to retire by rotation.MoreLess
    4 for0 against

Mutual fund votes, meeting of 26 Mar 2025, 6 fund houses

  • Re-appointment of Mr. Kayum Razak Dhanani (DIN: 00987597) as Managing Director of the Company for a period of 5 (five) years with effect from March 4, 2025 to March 3, 2030, with nil remuneration and that he shall not be liable to retire by rotation.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance Concern: Director holds 2 Full-Time positions.
    4 for1 against
  • Reappoint Kayum Dhanani (DIN: 00987597) as Managing Director for five years from 4 March 2025, not liable to retire by rotation at nil remuneration
    1 for0 against

Mutual fund votes, meeting of 6 Aug 2024, 7 fund houses

  • Appointment of Mr. Ajay Nanavati Vipin (DIN: 02370729) as an Independent Director of the Company, for a period of 5 (five) consecutive years with effect from May 23, 2024 to May 22, 2029 and shall not be liable to retire by rotation.MoreLess
    7 for0 against
  • Approval of revision in the remuneration of Mr. Rahul Agrawal (DIN: 07194134) Chief Executive Officer and Whole- Time Director of the Company, effective from April 1, 2024.
    7 for0 against
  • Re-appointment of Mr. Azhar Yusuf Dhanani (DIN: 07694732) Director, who retires by rotation at this Annual General Meeting, and being eligible offered himself for re-appointment.
    7 for0 against
  • Re-appointment of Mr. Devinjit Singh (DIN: 02275778) Director, who retires by rotation at this Annual General Meeting, and being eligible offered himself for re-appointment.
    7 for0 against
  • To receive consider and adopt Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2024 i.e., the Balance Sheet as at March, 2024, the Statement of Profit and Loss, the Statement of Changes in Equity and the Cash Flow Statement for the year then ended together with the Auditors’ Report and Board’s Report thereon.MoreLess
    7 for0 against

Mutual fund votes, meeting of 25 Sep 2023, 6 fund houses

  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2023
    2 for0 against
  • Amend Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2015 (ESOP 2015) to allow repricing of options granted in FY22 and FY23 to Rs. 721.4 per share and extend the vesting period
    2 for0 against
  • Amend Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2022 (ESOP 2022) to allow repricing of options granted in FY23 to Rs. 721.4 per share and extend the vesting period
    2 for0 against
  • Appoint Azhar Dhanani (DIN: 07694732) as Non-Executive Non-Independent Director from 7 August 2023, liable to retire by rotation
    2 for0 against
  • Appoint SR Batliboi & Associates LLP as statutory auditors for five years from the conclusion of the FY23 AGM till the conclusion of the FY28 AGM
    2 for0 against
  • Appointment of Messrs. S.R. Batliboi & Associates LLP (ICAI Firm Registration Number: 101049W/E300004), Chartered Accountants, as Statutory Auditors of the Company, in the place of Messrs. Deloitte Haskins and Sells, Chartered Accountants, (ICAI Firm Registration Number: 008072S) for a term of 5 consecutive years commencing from the conclusion of this 17th Annual General Meeting until the conclusion of the 22nd Annual General Meeting.MoreLess
    4 for0 against
  • Appointment of Mr. Azhar Yusuf Dhanani (DIN: 07694732) as a Non-Executive Director of the Company and whose period of office is liable to retire by rotation.
    Against Invesco Mutual Fund
    • Invesco Mutual FundAzhar Dhanani, 25, belongs to the promoter family. He is the Strategic Head of Sayaji Foods Private Limited. He is a Management Graduate from Indian School of Management and Entrepreneurship (ISME) and has also completed the International Baccalaureate Diploma Program from the Singapore International School. While his appointment is in line with the statutory requirements, we note that his aggregate work experience is less than 10 years, and his appointment does not align with our voting guidelines. Therefore, we do not support his appointment
    3 for1 against
  • Modification of Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2015.
    Against Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Invesco Mutual FundAs per the scheme, the vesting period is upto three years from the date of grant. However, the company seeks approval to amend the vesting schedule to accommodate the repricing of options (see resolution #6). As per the amendment, for repriced options the maximum vesting period shall not exceed five years from the date of original grant. Our view is linked to our view on resolution #6.
    • Kotak Mahindra Mutual FundRe-pricing of equity stock option plans for employees provide an undue advantage to the employees of the Company; Against the interest of existing shareholders in absence of compelling justification.
    • Motilal Oswal Mutual FundCompliant with Law. Governance concern: Proposed resolutions being linked with Resolution #6 & #7.
    1 for3 against
  • Modification of Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022.
    Against Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Invesco Mutual FundAs per the scheme, the vesting period is upto three years from the date of grant. However, the company seeks approval to amend the vesting schedule to accommodate the repricing of options (see resolution #6). As per the amendment, for repriced options the maximum vesting period shall not exceed five years from the date of original grant. Our view is linked to our view on resolution #7.
    • Kotak Mahindra Mutual FundRe-pricing of equity stock option plans for employees provide an undue advantage to the employees of the Company; Against the interest of existing shareholders in absence of compelling justification.
    • Motilal Oswal Mutual FundCompliant with Law. Governance concern: Proposed resolutions being linked with Resolution #6 & #7.
    1 for3 against
  • Modify Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2015 (ESOP 2015)
    2 for0 against
  • Modify Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022 (ESOP 2022)
    2 for0 against
  • Re-appointment of Mr. Raoof Razak Dhanani (DIN: 00174654), Director, who retires by rotation at this Annual General Meeting, and being eligible for reappointment.
    Against Invesco Mutual Fund, Motilal Oswal Mutual Fund
    • Invesco Mutual FundRaoof Dhanani, 59, is the Promoter and Managing Director of Sayaji Hotels Ltd: Group Company. He has been on the board since July 2015. He has attended 50% (2 out of 4) of the board meetings in FY23 and he attended 18 of 26 board meetings (69%) in the last three years. We expect directors to attend all meetings. We have a threshold of 75% attendance over a three-year period prior to reappointment. Given his poor attendance track record, we do not support his reappointment
    • Motilal Oswal Mutual FundNon-Compliant with Regulation 36(3) of SEBI LODR: Profile of Director not disclosed
    2 for2 against
  • Re-appointment of Mrs. Suchitra Dhanani (DIN: 00712187), Director, who retires by rotation at this Annual General Meeting, and being eligible for reappointment.
    Against Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Invesco Mutual FundSuchitra Dhanani, 59, is the Promoter and Whole-time Director of Sayaji Hotels Ltd: a group company. She has been on the board since July 2015. She has attended 50% (2 out of 4) of the board meetings in FY23 and she has attended 62% (16 out of 26) of the board meetings held in the last three years. We expect directors to attend all meetings. We have a threshold of 75% attendance over a three-year period prior to reappointment. Given her poor attendance track record, we do not support her reappointment.
    • Kotak Mahindra Mutual FundHer board attendance is at 50% which is low. Since the company has not disclosed the reason for low board attendance voting against .
    • Motilal Oswal Mutual FundNon-Compliant with Regulation 36(3) of SEBI LODR: Profile of Director not disclosed. Governance concern: Low board meeting attendance.
    1 for3 against
  • Reappoint Ms. Suchitra Dhanani (DIN: 00712187) as Non-Executive Non-Independent Director, liable to retire by rotation
    2 for0 against
  • Reappoint Raoof Dhanani (DIN: 00174654) as Non-Executive Non-Independent Director, liable to retire by rotation
    2 for0 against
  • To re-price Employee Stock Options (ESOPs) which were granted under Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2015 (ESOP Plan 2015) to the employees of the Company and its Subsidiaries during the financial years 2021-22 and 2022-23 and the revised exercise price shall be Rs. 721.40/- per ESOP (closing price on the National Stock Exchange of India Limited, on August 4, 2023.MoreLess
    Against Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Invesco Mutual FundThe company seeks approval to re-price stock options granted in FY21 and FY22 to Rs. 721.4 per share which was the closing price on the NSE on 4 August 2023 and extend the vesting (See resolution #8). All other terms and conditions remain unchanged. The company had modified the scheme after listing such that all grants after listing were made at market price. The company has stated the stock options have become unattractive as the current market price is less than the exercise price of each grant. We believe that ESOPs are ‘pay at risk’ instruments that employees accept at the time of grant. The inherent assumption of such schemes is that there could be possible downside risks – and that employees may not be rewarded in case of adverse stock price movements. By repricing, the company is attempting to protect employees’ downside risk, a protection that is not afforded to the company’s shareholders
    • Kotak Mahindra Mutual FundRe-pricing of equity stock option plans for employees provide an undue advantage to the employees of the Company; Against the interest of existing shareholders in absence of compelling justification.
    • Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Re-pricing of equity stock option plans for employees provide an undue advantage to the employees of the Company; Against the interest of existing shareholders in absence of compelling justification.
    1 for3 against
  • To receive consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Auditors’ Report and Board’s Report thereon.MoreLess
    3 for0 against
  • To receive consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Auditors' Report and Boards' Report thereon.MoreLess
    1 for0 against
  • To reprice Employee Stock Options (ESOPs) which were granted under Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022 (ESOP Plan 2022) to the employees of the Company and its Subsidiaries during the financial year 2022-23, and the revised exercise price shall be Rs. 721.40/- per ESOP (closing price on the National Stock Exchange of India Limited, on August 4, 2023.MoreLess
    Against Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Invesco Mutual FundThe company seeks approval to re-price stock options granted in FY23 to Rs. 721.4 per share which is the closing price on the NSE on 4 August 2023 and extend the vesting period (see resolution #9). All other terms and conditions remain unchanged. We note all grants made in FY23 were made at a minimal discount to market price on the date of grant. Under the scheme stock options will be granted at atleast 85% of the fair market price on the grant date. The company has stated the stock options have become unattractive as the current market price has fallen and is less than the exercise price of each grant. We believe that ESOPs are ‘pay at risk’ instruments that employees accept at the time of grant. The inherent assumption of such schemes is that there could be possible downside risks – and that employees may not be rewarded in case of adverse stock price movements. By repricing, the company is attempting to protect employees’ downside risk, a protection that is not afforded to the company’s shareholders
    • Kotak Mahindra Mutual FundRe-pricing of equity stock option plans for employees provide an undue advantage to the employees of the Company; Against the interest of existing shareholders in absence of compelling justification.
    • Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Re-pricing of equity stock option plans for employees provide an undue advantage to the employees of the Company; Against the interest of existing shareholders in absence of compelling justification.
    1 for3 against

Mutual fund votes, meeting of 6 Sep 2022, 6 fund houses

  • Adoption of standalone and consolidated financial statements for the year ended 31 March 2022
    1 for0 against
  • Approval of Re-appointment of Mr. Abhay Chintaman Chaudhari (DIN:06726836) as an Independent Director of the Company for the second term of 5 (five) consecutive years with effect from September 6, 2022 to September 5, 2027 and he shall not be liable to retire by rotation.MoreLess
    4 for0 against
  • Approve Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022 (ESOP 2022)
    1 for0 against
  • Approve extension of Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022 (ESOP 2022) to employees of subsidiaries
    1 for0 against
  • Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Auditors’ Report thereon.
    4 for0 against
  • Modify Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2015 (ESOP 2015)
    1 for0 against
  • Re-appointment of Mr. Devinjit Singh (DIN: 02275778), Director, who retires by rotation of the Company.
    4 for0 against
  • Re-appointment of Mr. Rahul Agrawal (DIN: 07194134), Director, who retires by rotation of the Company.
    4 for0 against
  • Reappoint Abhay Chintaman Chaudhari (DIN:06726836) as an Independent Director for five years from 6 September 2022
    1 for0 against
  • Reappoint Devinjit Singh (DIN: 02275778) as Non-Executive Non-Independent Director, liable to retire by rotation
    1 for0 against
  • Reappoint Rahul Agrawal (DIN: 07194134) as Director, liable to retire by rotation
    1 for0 against
  • To adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Auditors’ Report thereon and the Board’s Report including Secretarial Audit ReportMoreLess
    1 for0 against
  • To approve and adopt new Employee Stock Option Scheme in the name of “Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2022” (“ESOP 2022”) for the benefit of employees of the Company
    5 for0 against
  • To grant Employee Stock Options (ESOPs) under ‘Barbeque Nation Hospitality Limited - Employee Stock Option Plan 2022” (ESOP 2022) to the present and future employees of existing and/or future Subsidiary(ies) of the Company situated in India and overseas, and its director(s), whether Whole-time director or not, but excluding independent directors, if any, from time to time, in accordance with the ESOP 2022, and on such terms and conditions, as set out in the ESOP 2022MoreLess
    5 for0 against
  • To re-appoint Mr. Abhay Chintaman Chaudhari (DIN:06726836) as an Independent Director of the Company for the second term of 5 (five) consecutive years with effect from September 6, 2022 to September 5, 2027 and he shall not be liable to retire by rotationMoreLess
    1 for0 against
  • To re-appoint Mr. Devinjit Singh (DIN: 02275778), Director as a Director of the Company
    1 for0 against
  • To re-appoint Mr. Rahul Agrawal (DIN: 07194134), Director as a Director of the Company
    1 for0 against
  • To transfer 5,00,000 Employee Stock Options (ESOPs) from ‘Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2015’ (“ESOP 2015”/“Existing ESOP Plan”) to ‘Barbeque Nation Hospitality Limited - Employees Stock Option Plan 2022’ (“ESOP 2022”/“New ESOP Plan”).MoreLess
    5 for0 against

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

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyFood Safety and Standards Authority of India (FSSAI), Kakinada, Andhra PradeshSince 22 Jun 2026

    The authority has imposed a penalty of Rs.15,000/-.

    FSSAI proceedings were initiated in respect of one of the restaurants. The officer found storage and sale of a few expired food items and defects in the labeling of a few food items.
  • Fine or penaltyAddl. District Magistrate, Mandal – Meerut, Gautam Buddha Nagar, Uttar PradeshSince 12 Jun 2026

    The authority has imposed a penalty of Rs.4,50,000/-.

    FSSAI proceedings were initiated against a sample of Egg Gravy. Based on the test conducted, the Butyro-Refractometer (BR) value of the extracted fat at 40°C was found to be below the minimum prescribed limit for mustard oil. Accordingly, the sample was held to be substandard.MoreLess
  • Fine or penaltyAddl. District Magistrate, Mandal – Meerut, Gautam Buddha Nagar, Uttar PradeshSince 12 Jun 2026

    The authority has imposed a penalty of Rs.80,000/-.

    FSSAI proceedings were initiated against a sample of Gulab Jamun. Based on the test conducted, the product tested positive for starch, whereas the test result was required to be negative. Accordingly, the sample was held to be extraneous.MoreLess
  • Tax disputeIncome Tax DepartmentSince 30 Dec 2019
    The Hon'ble Income Tax Appellate Tribunal ("ITAT"), Bengaluru Bench, passed an order on December 2, 2025. Pursuant to the said order, the Hon'ble ITAT held that the disallowance of depreciation and the consequential assessments made by the Assessing Officer and CIT(A) for the subsequent assessment years were not justified. Accordingly, the Company is eligible to claim depreciation on goodwill for Assessment Years 2013-14 to 2018-19. During the quarter ended June 30, 2026, the Company received the consequential order giving effect to the ITAT order from the Assessing Officer.MoreLess
    At the filing before: Appeal was filed against the assessment orders issued for the Assessment Years 2013-14, 2014-15, 2015-16 & 2017-18 and the disputed amount is disclosed as contingent liability in the financial statements of the Company.MoreLess
  • Tax disputeDeputy Commissioner of Income Tax, BengaluruSince 21 Mar 2024
    The appeal is currently pending before the Commissioner of Income Tax (Appeals). There was no change during the reporting period.
    At the filing before: After evaluating the order, the Company filed an appeal against the assessment order issued for the Assessment Year 2019-20.
  • Tax disputeDeputy Commissioner of Income Tax, BengaluruSince 25 Jul 2024
    During the quarter ended June 30, 2026, the Company received an order from the Deputy Commissioner of Income Tax, Bengaluru, under Section 154 of the Income-tax Act, 1961, pursuant to which the tax demand was reduced from Rs. 7.74 crore to Rs. 4.16 crore.MoreLess
    At the filing before: After evaluating the order, the Company filed an appeal against the assessment order issued for the Assessment Year 2020-21.
  • Tax disputeDeputy Commissioner of Commercial Taxes, BengaluruSince 29 Nov 2023
    During the quarter ended June 30, 2026, the Company filed an appeal before the Hon'ble Goods and Services Tax Appellate Tribunal ("GSTAT"), Bengaluru Bench, against the order passed by the Deputy Commissioner of Commercial Taxes, Bengaluru.MoreLess
    At the filing before: After evaluating the order, the Company had filed an appeal against the order issued for the Financial Year 2017-18.
  • Tax disputeCommercial Taxes Department, Proceedings of the State Tax Officer, Pondy Bazaar Assessment CircleSince 14 Jun 2019
    The matter is currently pending before the Madras High Court. There was no change during the reporting period.
    At the filing before: Writ Petition was filed before the Madras High Court and the disputed amount is disclosed as contingent liability in the financial statements of the Company.
1 more
  • Tax disputeExcise and Taxation Officer, HaryanaSince 31 Dec 2023
    The appeal is currently pending before the Joint Excise and Taxation Commissioner (Appeals). There was no change during the reporting period.
    At the filing before: After evaluating the order, the Company filed an appeal against the order issued for the Financial Year 2017-18.

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

Investor complaints and compliance

Quarter by quarter.

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

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
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.