Valiant Organics MD, chairman, board of directors and AGM
NSE: VALIANTORGBSE: 540145Chemicals & PetrochemicalsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹428.25.
- 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.
- ₹1,157 Cr1,662nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 12 Aug 2026
- 21.4
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by 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). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹5.72 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 23.9
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 16 May 2026
- 1.5
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- 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 12 Aug 2026
- 7.3%
- 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 ₹5.72 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 6.5%
- 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 12 Aug 2026
- 6.4%
- 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 16 May 2026
- 0.33
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 1,24,62048.8% delivered
Valiant Organics 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
- ChairpersonNAVIN CHAPSHI SHAH
- Managing directorPARIMAL HASMUKHLAL DESAI
- Managing directorKALLADA KRISHNAN SATHIABABU
- Company Secretary and Compliance OfficerKaustubh Kulkarni
11 directors4 independent5 executive2 non-executive
- NAVIN CHAPSHI SHAH · ChairpersonIndependent · joined Aug 2022 · reappointed Aug 2025 · 46 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
- PARIMAL HASMUKHLAL DESAI · Managing directorExecutive · joined May 2024 · reappointed Jan 2025 · 3 listed boards · 1 committee seat
- KALLADA KRISHNAN SATHIABABU · Managing directorExecutive · joined Nov 2020 · 1 listed board · 1 committee seat
- MAHEK MANOJ CHHEDAExecutive · joined Jul 2017 · reappointed Sep 2022 · 1 listed board · 1 committee seat
- NEMIN MAHESH SAVADIAExecutive · joined May 2022 · reappointed May 2025 · 1 listed board · 1 committee seat
- SIDDHARTH DINESH SHAHExecutive · joined Jun 2022 · reappointed Jun 2025 · 1 listed board
- SANTOSH SHANTILAL VORANon-executive · joined May 2022 · reappointed Jun 2022 · 2 listed boards · 1 committee seat
- KIRITKUMAR HARIBHAI DESAINon-executive · joined Aug 2021 · reappointed Sep 2023 · 1 listed board
- SONAL AMIT VIRAIndependent · joined Aug 2022 · reappointed Aug 2025 · 46 months as independent · 2 listed boards · 2 as independent · 3 committee seats
- SUDHIRPRAKASH BABURAO SAWANTIndependent · joined May 2023 · reappointed May 2023 · 37 months as independent · 1 listed board · 1 as independent · 1 committee seat
- PARAS SUMTICHANDRA SAVLAIndependent · joined Nov 2024 · reappointed Nov 2024 · 19 months as independent · 1 listed board · 1 as independent · 1 committee seat
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
- MULESH MANILAL SAVLA, left 19 Apr 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 18 Jun 20268 of 11 present4 independent · 29 days in between
- 19 May 20267 of 11 present4 independent · 2 days in between
- 16 May 20266 of 11 present3 independent · 17 days in between
- 28 Apr 20269 of 11 present4 independent · 51 days in between
1 earlier meeting
- 7 Mar 20268 of 11 present3 independent
Audit Committee
Chair NAVIN CHAPSHI SHAH
SONAL AMIT VIRA, SUDHIRPRAKASH BABURAO SAWANT, PARAS SUMTICHANDRA SAVLA, PARIMAL HASMUKHLAL DESAI, KALLADA KRISHNAN SATHIABABU
- 18 Jun 20265 of 6 present4 independent · 29 days in between
- 19 May 20265 of 6 present4 independent · 2 days in between
- 16 May 20264 of 6 present3 independent · 17 days in between
- 28 Apr 20265 of 6 present4 independent · 73 days in between
1 earlier meeting
- 13 Feb 20265 of 6 present3 independent
Nomination and remuneration committee
Chair SUDHIRPRAKASH BABURAO SAWANT
NAVIN CHAPSHI SHAH, SANTOSH SHANTILAL VORA
- 16 May 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair NAVIN CHAPSHI SHAH
MAHEK MANOJ CHHEDA, NEMIN MAHESH SAVADIA
No meeting listed in the filing.
Risk Management Committee
Chair PARIMAL HASMUKHLAL DESAI
MAHEK MANOJ CHHEDA, KALLADA KRISHNAN SATHIABABU, NAVIN CHAPSHI SHAH
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair NAVIN CHAPSHI SHAH
MAHEK MANOJ CHHEDA, NEMIN MAHESH SAVADIA, PARIMAL HASMUKHLAL DESAI
- 16 May 20263 of 4 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.
- Gokhale and Sathe Chartered AccountantsPeer-review certificate valid to Feb 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.
Valiant Organics 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.Valiant Organics dividend history
Annual general meeting, 29 Sep 2026
39,249 shareholders on the register on 22 Sep 2026; present: 7 promoters and 44 others; votes counted by CS Monali Bhandari / M/s Mehta & Mehta.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, together with the Reports of the Board of Directors’ and the Auditors’ thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To appoint a Director in place of Shri Nemin M. Savadia (DIN: 00128256), who is liable to retire by rotation and being eligible, offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To appoint a Director in place of Shri Santosh S. Vora (DIN: 07633923), who is liable to retire by rotation and being eligible, offers himself for re-appointmentOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To ratify the remuneration payable to Cost Auditor for Financial Year 2026–27Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To consider and approve the shifting of the Registered Office of the Company within the state of Maharashtra, including amendment in the MOA of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To approve the revision in the terms and conditions of appointment of Shri Sathiababu K. Kallada (DIN: 02107652), Managing Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- Re-appointment of Shri Sathiababu K. Kallada (DIN: 02107652) as Managing Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To approve revision in the terms and conditions of appointment of Shri Mahek M. Chheda (DIN: 06763870), Executive Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To approve revision in the terms and conditions of appointment of Shri Nemin M. Savadia (DIN: 00128256), Executive Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- To approve revision in the terms and conditions of appointment of Shri Siddharth D. Shah (DIN: 07263018), Executive Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 69.03% · promoters 99.62% · institutions 21.59% · other public 50.49%
- Approval of Material Related Party Transaction(s) with Aarti Industries LimitedOrdinaryPromoters have an interest in it99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 10.00% · promoters 0.00% · institutions 21.59% · other public 16.08%
- Approval of Material Related Party Transaction(s) with Valiant Laboratories LimitedOrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 9.66% · promoters 0.00% · institutions 21.59% · other public 15.53%
- Approval of Material Related Party Transaction(s) with Alchemie Speciality Chemicals Private LimitedOrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 10.00% · promoters 0.00% · institutions 21.59% · other public 16.08%
- Approval of Material Related Party Transaction(s) with Valiant Advanced Sciences Private LimitedOrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 9.66% · promoters 0.00% · institutions 21.59% · other public 15.53%
- Approval of Material Related Party Transaction(s) with Alchemie Finechem Private LimitedOrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 10.00% · promoters 0.00% · institutions 21.59% · other public 16.08%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 26 Sep 2025, 10 resolutions
44,636 shareholders on the register on 19 Sep 2025; present: 6 promoters and 51 others; votes counted by CS Ronak Kalathiya / M/s Mehta & Mehta.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2025 together with the Reports of the Board of Directors’ and the Auditors’ thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.14% · promoters 99.98% · institutions 37.68% · other public 48.74%
- To appoint a Director in place of Shri Mahek M. Chheda (DIN: 06763870) who is liable to retire by rotation and being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 68.14% · promoters 99.98% · institutions 37.68% · other public 48.74%
- To appoint a Director in place of Dr. Kiritkumar H. Desai (DIN: 08610595) who is liable to retire by rotation and being eligible, offers himself for re-appointmentOrdinary100.00% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 68.14% · promoters 99.98% · institutions 37.68% · other public 48.74%
- To appoint Secretarial Auditor of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.14% · promoters 99.98% · institutions 37.68% · other public 48.74%
- To approve the remuneration payable to Shri Sathiababu K. Kallada (DIN: 02107652), Managing Director of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 68.14% · promoters 99.98% · institutions 37.68% · other public 48.74%
- Approval of Material Related Party Transaction(s) with Aarti Industries LimitedOrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 11.18% · promoters 0.00% · institutions 37.68% · other public 17.94%
- Approval of Material Related Party Transaction(s) with Valiant Laboratories LimitedOrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 11.18% · promoters 0.00% · institutions 37.68% · other public 17.94%
- Approval of Material Related Party Transaction(s) with Alchemie Speciality Chemicals Private Limited.OrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 11.18% · promoters 0.00% · institutions 37.68% · other public 17.94%
- Approval of Material Related Party Transaction(s) with Valiant Advanced Sciences Private Limited.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 11.18% · promoters 0.00% · institutions 37.68% · other public 17.94%
- To ratify the remuneration payable to Cost Auditor for Financial Year 2025–26Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 68.14% · promoters 99.98% · institutions 37.68% · other public 48.74%
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, 1 Jan 2025, 13 resolutions
49,950 shareholders on the register on 22 Nov 2024; votes counted by Sunil Dedhia / Sunil M Dedhia & Co.The company's voting result (opens in a new tab)
- Approval of Material Related Party Transaction (s) with Aarti Industries LimitedOrdinaryPromoters have an interest in it99.76% for0.24% against
Against: promoters 0.00% · institutions 0.00% · other public 0.24%
Turnout: all 9.60% · promoters 0.00% · institutions 6.62% · other public 15.60%
- Approval of Material Related Party Transaction (s) with Valiant Laboratories LimitedOrdinaryPromoters have an interest in it99.76% for0.24% against
Against: promoters 0.00% · institutions 0.00% · other public 0.24%
Turnout: all 9.60% · promoters 0.00% · institutions 6.62% · other public 15.60%
- Approval of Material Related Party Transaction(s) with Aarti Pharmalabs LimitedOrdinaryPromoters have an interest in it99.77% for0.23% against
Against: promoters 0.00% · institutions 0.00% · other public 0.24%
Turnout: all 9.60% · promoters 0.00% · institutions 6.62% · other public 15.60%
- Approval of Material Related Party Transaction(s) with Alchemie Speciality Chemicals Private LimitedOrdinaryPromoters have an interest in it99.75% for0.25% against
Against: promoters 0.00% · institutions 0.00% · other public 0.25%
Turnout: all 9.60% · promoters 0.00% · institutions 6.62% · other public 15.60%
- Appointment of Shri. Parimal H. Desai (DIN: 00009272), Non-Executive Director as an Executive Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Re-designation of Shri. Parimal H. Desai (DIN:00009272) as a Managing Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Approval for re-appointment of Shri. Nemin M. Savadia (DIN: 00128256) as an Executive Director of the CompanyOrdinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Approval for re-appointment of Shri. Siddharth D. Shah (DIN:07263018) as an Executive Director of the CompanyOrdinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- To approve revision in terms and Condition of appointment of Executive Diectors of the CompanySpecial99.91% for0.09% against
Against: promoters 0.00% · institutions 0.00% · other public 0.19%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Appointment of Shri. Paras S. Savla (DIN: 10773507) as Non-Executive Independent Director of the CompanySpecial99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Re-appoinment of Shri. Navin C. Shah (DIN:01415556) as an Independent Director of the Company for the second consecutive term of officeSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Re-appointment of Smt. Sonal A. Vira (DIN:09505883) as an Independent Director of the Company for the second consecutive term of officeSpecial99.85% for0.15% against
Against: promoters 0.00% · institutions 100.00% · other public 0.01%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
- Increase in Authorised Share Capital & consequesnt alteration of the capital clause of the Memorandum of AssociationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 58.91% · promoters 82.11% · institutions 6.62% · other public 45.65%
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, 21 Aug 2024, 12 resolutions
Present: 20 promoters and 62 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2024 together with the Reports of the Board of Directors¿ and the Auditors¿ thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To appoint a Director in place of Shri. Nemin M. Savadia (DIN: 00128256), who is liable to retire by rotation and being eligible, offered himself for re-appointmentOrdinary99.83% for0.17% against
Against: promoters 0.00% · institutions 46.34% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To appoint a Director in place of Shri. Santosh S. Vora (DIN: 07633923), who is liable to retire by rotation and being eligible, offered himself for re-appointment.Ordinary99.76% for0.24% against
Against: promoters 0.00% · institutions 64.41% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve revision in terms and conditions of appointment of Shri. Mahek M. Chheda (DIN: 06763870), Executive Director of the Company:Ordinary99.83% for0.17% against
Against: promoters 0.00% · institutions 46.34% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve revision in terms and conditions of appointment of Shri. Nemin M. Savadia (DIN: 00128256), Executive Director of the Company:Ordinary99.83% for0.17% against
Against: promoters 0.00% · institutions 46.34% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve revision in terms and conditions of appointment of Shri. Siddharth D. Shah (DIN: 07263018), Executive Director of the Company:Ordinary99.83% for0.17% against
Against: promoters 0.00% · institutions 46.34% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve revision in terms and conditions of appointment of Shri. Sathiababu K. Kallada (DIN: 02107652), Executive Director of the Company:Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve the Appointment and Re-designation of Shri. Sathiababu K. Kallada (DIN: 02107652), Executive Director as the Managing Director of the Company:Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve the Appointment and continuation of Shri. Parimal H. Desai (DIN: 00009272) as a Non-Executive Director of the Company, on completion of 75 years of ageSpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve the remuneration payable to Dr. Kiritkumar H. Desai (DIN: 08610595), Non-Executive Director of the Company for FY 2024-25Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- To approve excess Remuneration paid to Dr. Kiritkumar H. Desai (DIN: 08610595), Non-Executive Director of the Company for FY 2023-24:Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
- Ratification of Remuneration to Cost Auditor for the Financial Year 2024-25:Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 52.16% · promoters 77.09% · institutions 13.12% · other public 37.59%
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, 14 Apr 2024, 3 resolutions
The company's voting result (opens in a new tab)
- Approval of Material Related Party Transaction(s) with Aarti Industries LimitedOrdinaryPromoters have an interest in it99.83% for0.17% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 17.92% · promoters 0.00% · institutions 38.80% · other public 28.55%
- Approval of Material Related Party Transaction(s) with Valiant Laboratories LimitedOrdinaryPromoters have an interest in it99.83% for0.17% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 17.92% · promoters 0.00% · institutions 38.80% · other public 28.55%
- Approval of Material Related Party Transaction(s) with Aarti Pharmalabs LimitedOrdinaryPromoters have an interest in it99.83% for0.17% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 17.92% · promoters 0.00% · institutions 38.80% · other public 28.55%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 15 Sep 2023, 11 resolutions
Present: 20 promoters and 63 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 60.17% · promoters 87.65% · institutions 78.80% · other public 42.57%
- To appoint a Director in place of Dr. Kiritkumar H. Desai (DIN: 08610595), who is liable to retire by rotation and being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 60.14% · promoters 87.65% · institutions 78.80% · other public 42.52%
- To appoint a Director in place of Shri Sathiababu K. Kallada (DIN: 02107652), who is liable to retire by rotation and being eligible, offers himself for re-appointment.Ordinary98.40% for1.60% against
Against: promoters 0.00% · institutions 92.94% · other public 0.00%
Turnout: all 60.17% · promoters 87.65% · institutions 78.80% · other public 42.57%
- To re-appoint the Statutory Auditors of the Company.Ordinary99.92% for0.08% against
Against: promoters 0.00% · institutions 4.46% · other public 0.00%
Turnout: all 60.17% · promoters 87.65% · institutions 78.80% · other public 42.57%
- To approve revision in terms and conditions of appointment of Shri Arvind K. Chheda (DIN: 00299741), Managing Director of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 57.09% · promoters 79.52% · institutions 78.80% · other public 42.57%
- To approve revision in terms and conditions of appointment of Shri Mahek M. Chheda (DIN: 06763870), Executive Director of the Company.Ordinary98.46% for1.54% against
Against: promoters 0.00% · institutions 85.57% · other public 0.01%
Turnout: all 57.36% · promoters 87.65% · institutions 78.80% · other public 37.94%
- To approve revision in terms and conditions of appointment of Shri Nemin M. Savadia (DIN: 00128256), Executive Director of the Company.Ordinary98.43% for1.57% against
Against: promoters 0.00% · institutions 85.57% · other public 0.01%
Turnout: all 56.23% · promoters 87.65% · institutions 78.80% · other public 36.08%
- To approve revision in terms and conditions of appointment of Shri Sathiababu K. Kallada (DIN: 02107652), Executive Director of the CompanyOrdinary98.40% for1.60% against
Against: promoters 0.00% · institutions 93.33% · other public 0.01%
Turnout: all 60.14% · promoters 87.65% · institutions 78.80% · other public 42.52%
- To approve revision in terms and conditions of appointment of Shri Siddharth D. Shah (DIN: 07263018), Executive Director of the Company.Ordinary98.51% for1.49% against
Against: promoters 0.00% · institutions 85.57% · other public 0.01%
Turnout: all 59.29% · promoters 87.65% · institutions 78.80% · other public 41.12%
- To approve revision in terms and conditions of appointment of Shri Vishnu J. Sawant (DIN: 03477593), Executive Director of the Company.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 60.17% · promoters 87.65% · institutions 78.80% · other public 42.57%
- To approve the remuneration of Cost Auditor for Financial Year 2023-24.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 60.17% · promoters 87.65% · institutions 78.80% · other public 42.57%
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, 11 Jul 2023, 3 resolutions
The company's voting result (opens in a new tab)
- Approval of Material Related Party Transaction(s) with Aarti Industries Limited.OrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 15.22% · promoters 0.00% · institutions 55.04% · other public 23.80%
- Approval of Material Related Party Transaction(s) with Valiant Laboratories Limited.OrdinaryPromoters have an interest in it99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 15.22% · promoters 0.00% · institutions 55.04% · other public 23.80%
- Appointment of Dr. Sudhirprakash B. Sawant (DIN: 02343218) as an Independent Director of the Company.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 57.63% · promoters 83.32% · institutions 55.04% · other public 41.20%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 28 Sep 2022, 8 resolutions
Present: 24 promoters and 61 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2022, together with the Reports of the Auditors and the Board of Directors thereon.MoreLess
Ordinary97.91% for2.09% againstAgainst: promoters 0.00% · institutions 72.09% · other public 0.01%
Turnout: all 62.69% · promoters 99.97% · institutions 64.78% · other public 38.20%
- To declare the dividend @35% ie. Rs. 3.50/- per Equity Share of Rs.10/- each for the financial year ended March 31, 2022.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.69% · promoters 99.97% · institutions 64.78% · other public 38.20%
- To appoint a director in place of Shri Mahek M. Chheda (DIN: 06763870), who is liable to retire by rotation and being eligible, offers himself for re-appointment.Ordinary99.69% for0.31% against
Against: promoters 0.00% · institutions 9.88% · other public 0.03%
Turnout: all 59.73% · promoters 99.97% · institutions 64.78% · other public 33.15%
- To appoint a director in place of Shri Vishnu J. Sawant (DIN:03477593), who is liable to retire by rotation and being eligible, offers himself for re-appointment.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 62.69% · promoters 99.97% · institutions 64.78% · other public 38.20%
- Appointment of Shri Navin C. Shah (DIN:01415556) as an Independent Director of the Company.Special99.71% for0.29% against
Against: promoters 0.00% · institutions 9.88% · other public 0.02%
Turnout: all 62.69% · promoters 99.97% · institutions 64.78% · other public 38.19%
- Appointment of Smt. Sonal A. Vira (DIN: 09505883) as an Independent Director of the Company.Special99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 62.69% · promoters 99.97% · institutions 64.78% · other public 38.20%
- Approval for re-appointment of Shri Mahek M. Chheda (DIN: 06763870) as an Executive Director of the Company.Ordinary99.69% for0.31% against
Against: promoters 0.00% · institutions 9.88% · other public 0.03%
Turnout: all 59.73% · promoters 99.97% · institutions 64.78% · other public 33.15%
- Approval to remuneration of Cost Auditor for FY 2022-23.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 62.69% · promoters 99.97% · institutions 64.78% · other public 38.20%
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 14 Apr 2024, 2 fund houses
- Approval of Material Related Party Transaction(s) with Aarti Industries Limited2 for0 against
- Approval of Material Related Party Transaction(s) with Valiant Laboratories Limited2 for0 against
- Approval of Material Related Party Transaction(s) with Aarti Pharmalabs Limited2 for0 against
Mutual fund votes, meeting of 15 Sep 2023, 2 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
2 for0 against- To appoint a Director in place of Dr. Kiritkumar H. Desai (DIN: 08610595), who is liable to retire by rotation and being eligible, offers himself for re-appointment.2 for0 against
- To appoint a Director in place of Shri Sathiababu K. Kallada (DIN: 02107652), who is liable to retire by rotation and being eligible, offers himself for re-appointment.
Against Sundaram Mutual Fund
- Sundaram Mutual FundSathiababu K. Kallada, 61, served as Senior Vice President Product Development and Quality at Aarti Industries Limited, a promoter group company. He has over 36 years of experience in the chemicals industry. He was initially appointed to this board as non-executive non-independent director on 23 November 2020 and was redesignated and appointed as executive director from 1 May 2022. He attended all five board meetings held in FY23. We note that the board comprises of six executive directors, which is disproportionate to the size and scale of the company. Therefore, we do not support his reappointment.
1 for1 against - To re-appoint the Statutory Auditors of the Company.
Against Sundaram Mutual Fund
- Sundaram Mutual FundThe company proposes to reappoint Gokhale & Sathe for a second term of five years, which will complete their overall tenure of ten years as per regulations. The company has not disclosed the proposed audit fee, which is a regulatory requirement. The audit fees for FY22 and FY23 stood at Rs. 0.95 mn and Rs. 1.10 mn respectively. We expect the company to fix the audit fee for FY24 at similar levels. However, Gokhale & Sathe have been associated as the statutory auditors of Aarti Industries Limited and its group companies for over fifteen years: Valiant Organics Limited is part of the same promoter group. We raise concerns over auditor independence and objectivity given the long and continued association with the promoter group. Therefore, we are unable to support Gokhale & Sathe’s reappointment as statutory auditors.
1 for1 against - To approve revision in terms and conditions of appointment of Shri Arvind K. Chheda (DIN: 00299741), Managing Director of the Company.1 for0 against
- To approve revision in terms and conditions of appointment of Shri Mahek M. Chheda (DIN: 06763870), Executive Director of the Company.1 for0 against
- To approve revision in terms and conditions of appointment of Shri Nemin M. Savadia (DIN: 00128256), Executive Director of the Company.1 for0 against
- To approve revision in terms and conditions of appointment of Shri Sathiababu K. Kallada (DIN: 02107652), Executive Director of the Company1 for0 against
- To approve revision in terms and conditions of appointment of Shri Siddharth D. Shah (DIN: 07263018), Executive Director of the Company.1 for0 against
- To approve revision in terms and conditions of appointment of Shri Vishnu J. Sawant (DIN: 03477593), Executive Director of the Company.1 for0 against
- To approve the remuneration of Cost Auditor for Financial Year 2023-24.2 for0 against
6 proposals not matched to one resolution
- Approve revision in fixed remuneration of Arvind K Chheda (DIN: 00299741) as Managing Director from Rs. 3.25 mn to Rs. 3.6 mn for FY241 for0 against
- Approve revision in fixed remuneration of Sathiababu K. Kallada (DIN: 02107652) as Executive Director from Rs. 3.0 mn to Rs. 3.3 mn for FY24
Against Sundaram Mutual Fund
- Sundaram Mutual FundSathiababu K. Kallada, 61, served as Senior Vice President Product Development and Quality at Aarti Industries Limited, a promoter group company. He has over 36 years of experience in the chemicals industry. He was initially appointed to this board as non-executive non-independent director on 23 November 2020 and was redesignated and appointed as executive director from 1 May 2022. He received Rs. 4.5 mn in FY23 (including fair value of stock options granted in FY23). proposes to revise his fixed remuneration from Rs. 3.0 mn to Rs. 3.3 mn for FY24. We estimate his FY24 remuneration at Rs. 5.0 mn (including stock options), which is reasonable. We raise concern that the company has not disclosed the quantum of stock options that he may receive. His remuneration from Aarti Industries Limited has not been provided, and therefore his aggregate compensation across both roles is unclear. Further, we raise concern that the board comprises of six executive directors, which is disproportionate to the size and scale of the company. We do not support the revision.
0 for1 against - Approve revision in remuneration of Mahek M. Chheda (DIN: 06763870) as Executive Director from Rs. 2.2 mn to Rs. 2.4 mn for FY24
Against Sundaram Mutual Fund
- Sundaram Mutual FundMahek M. Chheda, 32, is a whole-time director of the company. He has been on the board since 6 July 2017. He has an aggregate of eight years of work experience, which we believe is not sufficient to be on the board of a listed company. He received Rs. 2.2 mn in FY23. The company proposes to revise his fixed remuneration from Rs. 2.2 mn to Rs. 2.4 mn for FY24. We estimate his FY24 remuneration at Rs. 3.8 mn (including stock options), which is reasonable. We raise concern that the company has not disclosed the quantum of stock options that he may receive. Further, we raise concern that the board comprises of six executive directors, which is disproportionate to the size and scale of the company. Further, we believe that the does not the requisite experience to be on the board of a listed company. We do not support the revision.
0 for1 against - Approve revision in remuneration of Nemin M. Savadia (DIN: 00128256) as Executive Director from Rs. 1.5 mn to Rs. 2.4 mn for FY24
Against Sundaram Mutual Fund
- Sundaram Mutual FundNemin M Savadia,45, was appointed to the board on 1 May 2022. He has over 25 years of experience in Chemical Industry and has served as Unit Head for the company’s plant at Tarapur. The company proposes to revise his fixed remuneration from Rs. 1.5 mn to Rs. 2.4 mn for FY24. We estimate his FY24 remuneration at Rs. 3.8 mn (including stock options), which is reasonable. We raise concern that the company has not disclosed the quantum of stock options that he may receive. We note that he is the son of former Executive Director – Mahesh Savadia, a professional; and was appointed on the board a day after Mahesh Savadia stepped down. The company has not articulated the reasons for his selection as director on resignation of Mahesh Savadia as Executive Director. We believe the company should have articulated the reasons for his appointment in light of his skills, knowledge, experience and capabilities. Further, we raise concern that the board comprises of six executive directors, which is disproportionate to the size and scale of the company. We do not support the revision.
0 for1 against - Approve revision in remuneration of Siddharth D. Shah (DIN: 07263018) as Executive Director from Rs. 2.2 mn to Rs. 2.4 mn for FY24
Against Sundaram Mutual Fund
- Sundaram Mutual FundSiddharth D. Shah, 39, has around fifteen years of experience in Chemical Industry and has served as Unit Head, Ahmedabad and Jhagadia Unit-1 Plan. He was appointed to the board on 1 June 2022. The company proposes to revise his fixed remuneration from Rs. 2.2 mn to Rs. 2.4 mn for FY24. We estimate his FY24 remuneration at Rs. 3.8 mn (including stock options), which is reasonable. We raise concern that the company has not disclosed the quantum of stock options that he may receive. We note that he is the son of former Executive Director – Dinesh S Shah, a professional; and was appointed on the board a day after Dinesh S Shah stepped down. The company has not articulated the reasons for his selection as director on resignation of Dinesh Shah as Executive Director. We believe the company should have articulated the reasons for his appointment in light of his skills, knowledge, experience and capabilities. Further, we raise concern that the board comprises of six executive directors, which is disproportionate to the size and scale of the company. We do not support the revision.
0 for1 against - Approve revision in remuneration of Vishnu J. Sawant (DIN: 03477593) as Executive Director from Rs. 2.2 mn to Rs. 2.4 mn for FY241 for0 against
2 earlier meetings
Mutual fund votes, meeting of 11 Jul 2023, 1 fund house
- Approval of Material Related Party Transaction(s) with Aarti Industries Limited.1 for0 against
- Approval of Material Related Party Transaction(s) with Valiant Laboratories Limited.1 for0 against
- Appointment of Dr. Sudhirprakash B. Sawant (DIN: 02343218) as an Independent Director of the Company.1 for0 against
Mutual fund votes, meeting of 28 Sep 2022, 1 fund house
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2022, together with the Reports of the Auditors and the Board of Directors thereon.MoreLess
Against Nippon India Mutual Fund
- Nippon India Mutual FundNon-disclosure of latest financial statements of Subsidiaries on the website
0 for1 against- To declare the dividend @35% ie. Rs. 3.50/- per Equity Share of Rs.10/- each for the financial year ended March 31, 2022.1 for0 against
- To appoint a director in place of Shri Mahek M. Chheda (DIN: 06763870), who is liable to retire by rotation and being eligible, offers himself for re-appointment.1 for0 against
- To appoint a director in place of Shri Vishnu J. Sawant (DIN:03477593), who is liable to retire by rotation and being eligible, offers himself for re-appointment.1 for0 against
- Appointment of Shri Navin C. Shah (DIN:01415556) as an Independent Director of the Company.1 for0 against
- Appointment of Smt. Sonal A. Vira (DIN: 09505883) as an Independent Director of the Company.1 for0 against
- Approval for re-appointment of Shri Mahek M. Chheda (DIN: 06763870) as an Executive Director of the Company.1 for0 against
1 proposal not matched to one resolution
Ratification of remuneration of Rs.1,75,000/- plus Tax as applicable and reimbursement for out of pocket expenses to be paid to Ms. Ketki D. Visariya, Cost Accountant (Membership Number 16028), appointed by the Board of Directors based on the recommendation of the Audit Committee, as Cost Auditors of the Company to conduct the audit of cost records of the Company for the financial year ending March 31, 2023.MoreLess
1 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.