V-Mart Retail logo

V-Mart Retail MD, chairman, board of directors and AGM

NSE: VMARTBSE: 534976RetailingSmall Cap

Last close ₹777.20up ₹6.15 (0.80%)BSE ₹785.45

Share price at the NSE close on 23 Oct 2026. Previous close ₹771.05.

52-week range of traded prices to 23 Oct 2026
₹457.90Low, 30 Mar 2026₹882.00High, 13 Nov 2025
Market cap
₹6,185 Cr787th largest listed
P/E
44.9
P/B
6.5
Dividend yield
0.13%
ROE
15.6%
ROCE
22.3%
Debt to equity
0.11
Volume, NSE
1,42,85560.7% delivered

V-Mart Retail 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

  • Managing directorLalit Agarwal
  • ChairpersonAakash Moondhra
  • Company Secretary and Compliance OfficerMegha Tandon

6 directors3 independent2 executive1 non-executive

  • Lalit Agarwal · Managing directorExecutive · joined Jul 2002 · reappointed May 2022 · 1 listed board · 1 committee seat
  • Madan Gopal AgarwalExecutive · joined Jul 2002 · reappointed May 2022 · 1 listed board · 1 committee seat
  • Aakash Moondhra · ChairpersonNon-executive · joined Sep 2014 · reappointed Sep 2024 · 1 listed board · 1 committee seat
  • Govind Shridhar ShrikhandeIndependent · joined Nov 2018 · reappointed Nov 2023 · 91 months as independent · 3 listed boards · 3 as independent · 2 committee seats, 1 as chair
  • Raghuvesh SarupIndependent · joined May 2024 · reappointed May 2024 · 25 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Shweta KumarIndependent · joined May 2024 · reappointed May 2024 · 25 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair

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
  • Murli Ramachandran, left 21 Jan 2025: Tenure Completion
  • Sonal Mattoo, left 21 Jan 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 7 May 20266 of 6 present3 independent · 104 days in between
    • 22 Jan 20266 of 6 present3 independent

  • Audit Committee

    Chair Govind Shridhar Shrikhande

    Shweta Kumar, Aakash Moondhra, Raghuvesh Sarup

    • 7 May 20264 of 4 present3 independent · 104 days in between
    • 22 Jan 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Shweta Kumar

    Raghuvesh Sarup, Govind Shridhar Shrikhande, Aakash Moondhra

    • 7 May 20264 of 4 present3 independent · 104 days in between
    • 22 Jan 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Shweta Kumar

    Lalit Agarwal, Madan Gopal Agarwal

    • 7 May 20263 of 3 present1 independent · 104 days in between
    • 22 Jan 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Raghuvesh Sarup

    Shweta Kumar, Govind Shridhar Shrikhande

    • 7 May 20263 of 3 present3 independent · 104 days in between
    • 22 Jan 20263 of 3 present3 independent

  • Corporate Social Responsibility Committee

    Chair Raghuvesh Sarup

    Lalit Agarwal, Madan Gopal Agarwal, Aakash Moondhra

    • 7 May 20264 of 4 present1 independent · 104 days in between
    • 22 Jan 20264 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.

  • S.R. Batliboi & Co. LLPPeer-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.

V-Mart Retail 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.V-Mart Retail dividend history

Annual general meeting, 30 Jul 2026

30,742 shareholders on the register on 22 Jul 2026; present: 3 promoters and 188 others; votes counted by Harsh Oberoi / M/s Oberoi & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider, and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2026, along with the reports of the Auditors and the Board of Directors (the Board) thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.81% · promoters 100.00% · institutions 75.05% · other public 29.42%

  2. To appoint a director in place of Mr. Lalit Agarwal (DIN 00900900) who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    96.00% for4.00% against

    Against: promoters 0.00% · institutions 4.92% · other public 56.52%

    Turnout: all 81.81% · promoters 100.00% · institutions 75.05% · other public 29.42%

  3. Declaration of Final Dividend on equity shares for the Financial Year ended March 31, 2026
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 81.81% · promoters 100.00% · institutions 75.05% · other public 29.42%

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, 29 Jul 2025, 7 resolutions

25,875 shareholders on the register on 22 Jul 2025; present: 3 promoters and 154 others; votes counted by Harsh Oberoi / M/s Oberoi & Associates.The company's voting result (opens in a new tab)

  1. TO RECEIVE, CONSIDER, AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2025, ALONG WITH THE REPORTS OF THE AUDITORS AND THE BOARD OF DIRECTORS THEREON.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.29% · promoters 100.00% · institutions 90.37% · other public 9.10%

  2. APPOINTMENT OF MR. LALIT AGARWAL (DIN: 00900900) AS DIRECTOR, LIABLE TO RETIRE BY ROTATION
    Ordinary
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 0.43% · other public 0.01%

    Turnout: all 89.29% · promoters 100.00% · institutions 90.37% · other public 9.10%

  3. REVISION IN REMUNERATION OF MR. VARIN AGGARWAL WHO IS HOLDING AN OFFICE OR PLACE OF PROFIT IN THE COMPANY
    OrdinaryPromoters have an interest in it
    87.63% for12.37% against

    Against: promoters 0.00% · institutions 12.54% · other public 0.01%

    Turnout: all 45.10% · promoters 0.00% · institutions 90.37% · other public 8.99%

  4. APPROVAL FOR THE PAYMENT OF COMMISSIONS TO NON-EXECUTIVE DIRECTORS OF THE COMPANY
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 89.28% · promoters 100.00% · institutions 90.37% · other public 8.99%

  5. APPROVAL FOR THE REVISION IN THE REMUNERATION OF MR. LALIT AGARWAL, (DIN: 00900900) MANAGING DIRECTOR OF THE COMPANY
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.05% · other public 0.01%

    Turnout: all 89.28% · promoters 100.00% · institutions 90.37% · other public 8.99%

  6. APPROVAL FOR THE REVISION IN THE REMUNERATION OF MR. MADAN GOPAL AGARWAL (DIN: 02249947), WHOLE TIME DIRECTOR OF THE COMPANY
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.05% · other public 0.01%

    Turnout: all 89.28% · promoters 100.00% · institutions 90.37% · other public 8.99%

  7. APPOINTMENT OF M/S AGARWAL S. & ASSOCIATES, COMPANY SECRETARIES AS THE SECRETARIAL AUDITORS OF THE COMPANY FOR THE PERIOD OF FIVE CONSECUTIVE YEARS
    Ordinary
    98.88% for1.12% against

    Against: promoters 0.00% · institutions 2.24% · other public 0.01%

    Turnout: all 89.28% · promoters 100.00% · institutions 90.37% · other public 8.99%

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, 12 Jun 2025, 2 resolutions

19,424 shareholders on the register on 9 May 2025; votes counted by CS Vineet K Chaudhary / VKC & Associates.The company's voting result (opens in a new tab)

  1. Increase in Authorised Share Capital and consequent alteration to the Capital Clause of the Memorandum of Association
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.04% · other public 0.05%

    Turnout: all 90.31% · promoters 100.00% · institutions 89.98% · other public 15.51%

  2. Issue of Bonus Shares
    Ordinary
    98.51% for1.49% against

    Against: promoters 0.00% · institutions 2.96% · other public 0.05%

    Turnout: all 90.31% · promoters 100.00% · institutions 89.98% · other public 15.51%

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

Annual general meeting, 31 Jul 2024, 6 resolutions

Present: 3 promoters and 112 others.The company's voting result (opens in a new tab)

  1. Adoption of financial statements
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.22% · promoters 100.00% · institutions 94.59% · other public 3.81%

  2. Appointment of Mr. Madan Gopal Agarwal (DIN: 02249947) as Director, liable to retire by rotation
    Ordinary
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 0.62% · other public 0.00%

    Turnout: all 91.22% · promoters 100.00% · institutions 94.59% · other public 3.81%

  3. Appointment of Mr. Raghuvesh Sarup (DIN: 10626162) as an Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 91.22% · promoters 100.00% · institutions 94.59% · other public 3.81%

  4. Appointment of Ms. Shweta Kumar (DIN: 08596612) as an Independent Director of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 91.22% · promoters 100.00% · institutions 94.59% · other public 3.81%

  5. Appointment of Mr. Aakash Moondhra as a NonExecutive Non-Independent Director
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.10% · other public 0.00%

    Turnout: all 91.22% · promoters 100.00% · institutions 94.59% · other public 3.81%

  6. Approval for Adoption of new set of Articles of Association of the Company
    Special
    94.17% for5.83% against

    Against: promoters 0.00% · institutions 11.66% · other public 0.00%

    Turnout: all 91.22% · promoters 100.00% · institutions 94.59% · other public 3.81%

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, 4 resolutions

Present: 3 promoters and 117 others.The company's voting result (opens in a new tab)

  1. Adoption of financial statements of the Company for the Financial year ended on 31st March, 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.93% · promoters 100.00% · institutions 97.60% · other public 38.49%

  2. Appointment of Mr. Lalit Agarwal (DIN: 00900900) as Director, liable to retire by rotation.
    Ordinary
    99.98% for0.02% against

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

    Turnout: all 91.93% · promoters 100.00% · institutions 97.60% · other public 38.49%

  3. Re-appointment of Statutory Auditors and fixation of their Remuneration
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 91.93% · promoters 100.00% · institutions 97.60% · other public 38.49%

  4. Re-appointment of Mr. Govind Shridhar Shrikhande (DIN: 00029419) as an Independent Director of the Company.
    Special
    99.91% for0.09% against

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

    Turnout: all 91.93% · promoters 100.00% · institutions 97.60% · other public 38.49%

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 Aug 2022, 7 resolutions

Present: 4 promoters and 82 others.The company's voting result (opens in a new tab)

  1. Adoption of financial statements
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.00%

  2. To declare the dividend for the financial year 2021-22
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.01%

  3. Appointment of Mr. Madan Gopal Agarwal (DIN 02249947) as Director, liable to retire by rotation
    OrdinaryPromoters have an interest in it
    98.86% for1.14% against

    Against: promoters 0.00% · institutions 2.65% · other public 0.01%

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.00%

  4. Approval for payment of Commission to Non- Executive Directors
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.35% · other public 0.03%

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.00%

  5. Approval for the re-appointment of Mr. Lalit M Agarwal (DIN 00900900) as Managing Director of the Company and revision in his remuneration
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.00%

  6. Approval for re-appointment of Mr. Madan Gopal Agarwal (DIN 02249947) as Whole-time Director of the Company and revision in his remuneration.
    SpecialPromoters have an interest in it
    99.03% for0.97% against

    Against: promoters 0.00% · institutions 2.25% · other public 0.01%

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.00%

  7. Approval for amendment in the V-Mart Retail Ltd. Employee Stock Option Plan 2020 (“ESOP Scheme, 2020 ) of the Company.
    Special
    93.24% for6.76% against

    Against: promoters 0.00% · institutions 15.73% · other public 0.03%

    Turnout: all 82.99% · promoters 100.00% · institutions 77.55% · other public 15.00%

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, 25 Aug 2021, 8 resolutions

Present: 2 promoters and 57 others.The company's voting result (opens in a new tab)

  1. To consider and adopt the Audited Financial Statements of thenCompany for the financial year ended March 31, 2021, along withnthe reports of the Auditors and the Board of Directors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.85% · promoters 100.00% · institutions 72.13% · other public 3.89%

  2. To appoint a director in place of Mr. Lalit M. Agarwal (DINn00900900) who retires by rotation and being eligible, offersnhimself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 1.70% · other public 0.01%

    Turnout: all 79.85% · promoters 100.00% · institutions 72.13% · other public 3.89%

  3. Reclassification of Promoter to Public Category
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 33.25% · promoters 0.00% · institutions 72.13% · other public 3.89%

  4. Approval for remuneration and waiver of excess managerialnremuneration paid to Mr. Lalit M Agarwal, Chairman & ManagingnDirector (DIN:00900900)
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.07% · other public 0.01%

    Turnout: all 72.66% · promoters 86.11% · institutions 70.55% · other public 3.89%

  5. Approval for Remuneration and waiver of excess managerial remuneration paid to Mr. Madan Gopal Agarwal, Whole-time Director (DIN 02249947)
    SpecialPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 79.13% · promoters 100.00% · institutions 70.55% · other public 3.89%

  6. Approval for the payment of Commission to Non-Executive Directors
    Ordinary
    76.78% for23.22% against

    Against: promoters 0.00% · institutions 57.09% · other public 0.01%

    Turnout: all 79.06% · promoters 100.00% · institutions 70.40% · other public 3.89%

  7. Payment of remuneration to the Non- Executive, Independent Director(s) of the Company in the event of no profits or inadequate profit
    Ordinary
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 0.55% · other public 0.01%

    Turnout: all 79.13% · promoters 100.00% · institutions 70.55% · other public 3.89%

  8. Approval for amendment in the V-Mart Retail Ltd. Employee Stock Option Plan 2020 (“ESOP Scheme, 2020 ) of the Company.
    Special
    73.44% for26.56% against

    Against: promoters 0.00% · institutions 64.45% · other public 0.00%

    Turnout: all 79.78% · promoters 100.00% · institutions 71.97% · other public 3.89%

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.

Annual general meeting, 30 Sep 2020, 7 resolutions

Present: 5 promoters and 55 others.The company's voting result (opens in a new tab)

  1. ORDINARY - Adoption of financial statements of the Company for the financial year ended March 31, 2020, along with the reports of the Auditors and the Board of Directors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.70% · promoters 100.00% · institutions 60.01% · other public 4.21%

  2. ORDINARY - Appointment of Mr. Madan Gopal Agarwal DIN 02249947 as Directors, liable to retire by rotation
    Ordinary
    99.47% for0.53% against

    Against: promoters 0.00% · institutions 1.56% · other public 0.01%

    Turnout: all 77.45% · promoters 100.00% · institutions 64.27% · other public 4.21%

  3. SPECIAL - Re-appointment of Ms. Sonal Mattoo DIN 00106795 as an Independent Director of the Company for second term of five consecutive years
    Special
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.45% · other public 0.01%

    Turnout: all 77.13% · promoters 100.00% · institutions 63.51% · other public 4.21%

  4. SPECIAL - Re-appointment of Mr. Murli Ramachandran DIN 00264018 as an Independent Director of the Company for second term of five consecutive years.
    Special
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.50% · other public 0.01%

    Turnout: all 77.13% · promoters 100.00% · institutions 63.51% · other public 4.21%

  5. SPECIAL - Approval of V-Mart Retail Ltd. Employee Stock Option Plan 2020 “ESOP Scheme, 2020
    Special
    87.14% for12.86% against

    Against: promoters 0.00% · institutions 38.15% · other public 0.01%

    Turnout: all 76.96% · promoters 100.00% · institutions 63.10% · other public 4.21%

  6. SPECIAL- Approval for raising funds
    Special
    99.59% for0.41% against

    Against: promoters 0.00% · institutions 1.19% · other public 0.01%

    Turnout: all 77.45% · promoters 100.00% · institutions 64.27% · other public 4.21%

  7. ORDINARY - Increase in Authorised Share Capital
    Ordinary
    100.00% for0.01% against

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

    Turnout: all 77.45% · promoters 100.00% · institutions 64.27% · other public 4.21%

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.

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 30 Jul 2026, 5 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider, and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2026, along with the reports of the Auditors and the Board of Directors (the Board) thereon.MoreLess
    5 for0 against
  • To appoint a director in place of Mr. Lalit Agarwal (DIN 00900900) who retires by rotation and being eligible, offers himself for re-appointment
    Against Angel One Mutual Fund, Edelweiss Mutual Fund
    • Angel One Mutual FundGovernance concern: Director proposed pursuant to retirement by rotation does not appear to be the longest in office.
    • Edelweiss Mutual FundNo governance concern identified with respect to the proposed appointee. Governance concern: Director proposed pursuant to retirement by rotation does not appear to be the longest in office.
    3 for2 against
  • Declaration of Final Dividend on equity shares for the Financial Year ended March 31, 2026
    5 for0 against

Mutual fund votes, meeting of 29 Jul 2025, 17 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 FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2025, ALONG WITH THE REPORTS OF THE AUDITORS AND THE BOARD OF DIRECTORS THEREON.
    17 for0 against
  • APPOINTMENT OF MR. LALIT AGARWAL (DIN: 00900900) AS DIRECTOR, LIABLE TO RETIRE BY ROTATION
    17 for0 against
  • REVISION IN REMUNERATION OF MR. VARIN AGGARWAL WHO IS HOLDING AN OFFICE OR PLACE OF PROFIT IN THE COMPANY
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted in view of the following concerns: • There is insufficient justification for the proposed remuneration as it is deemed to be excessive and surpasses the remuneration paid to executive director in FY2025. • The approval will be valid till perpetuity and shareholders will not get to review the payments in the future.
    16 for1 against
  • APPROVAL FOR THE PAYMENT OF COMMISSIONS TO NON-EXECUTIVE DIRECTORS OF THE COMPANY
    17 for0 against
  • APPROVAL FOR THE REVISION IN THE REMUNERATION OF MR. LALIT AGARWAL, (DIN: 00900900) MANAGING DIRECTOR OF THE COMPANY
    17 for0 against
  • APPROVAL FOR THE REVISION IN THE REMUNERATION OF MR. MADAN GOPAL AGARWAL (DIN: 02249947), WHOLE TIME DIRECTOR OF THE COMPANY
    17 for0 against
  • APPOINTMENT OF M/S AGARWAL S. & ASSOCIATES, COMPANY SECRETARIES AS THE SECRETARIAL AUDITORS OF THE COMPANY FOR THE PERIOD OF FIVE CONSECUTIVE YEARS
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww 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.
    • Edelweiss Mutual Fund, Groww Mutual FundCompliant with law. Transparency concern: Remuneration of outgoing auditor not disclosed, thus, material change, if any, with proposed audit fee cannot be ascertained.
    13 for3 against
1 proposal not matched to one resolution
  • Appointment of M/s Agarwal S. and Associates, Company Secretaries, (Firm Registration Number: P2003DE049100) as the Secretarial Auditors of the Company for a term of 5 (five) years from the Financial Year 2025-26 until the conclusion of 28th Annual General Meeting of the Company which will be held for the financial year 2029-30 on such remuneration as may be approved by the Board of Directors in consultation with the Auditors.MoreLess
    1 for0 against
6 earlier meetings

Mutual fund votes, meeting of 12 Jun 2025, 18 fund houses

  • Increase in Authorised Share Capital and consequent alteration to the Capital Clause of the Memorandum of Association
    18 for0 against
  • Issue of Bonus Shares
    18 for0 against

Mutual fund votes, meeting of 31 Jul 2024, 13 fund houses

  • Adoption of financial statements
    13 for0 against
  • Appointment of Mr. Madan Gopal Agarwal (DIN: 02249947) as Director, liable to retire by rotation
    Against Groww Mutual Fund
    • Groww Mutual FundNon-Compliance with Section 196(3)(a) of Companies Act, 2013– No specific prior approval of shareholders for continuation beyond 70 years of age and no specific justification for continuation.
    12 for1 against
  • Appointment of Mr. Raghuvesh Sarup (DIN: 10626162) as an Independent Director of the Company
    13 for0 against
  • Appointment of Ms. Shweta Kumar (DIN: 08596612) as an Independent Director of the Company
    13 for0 against
  • Appointment of Mr. Aakash Moondhra as a NonExecutive Non-Independent Director
    Against Groww Mutual Fund
    • Groww Mutual FundCompliant with law. Governance concern: No cooling off period of 1 year between appointment as NED and after completion of term as ID. Appointment as NED will raise question over his independence in the previous term as ID.
    12 for1 against
  • Approval for Adoption of new set of Articles of Association of the Company
    Against Groww Mutual Fund, Invesco Mutual Fund
    • Groww Mutual FundCompliant with Law. Governance concern: Clause of holding position of CMD by the same person in AOA & Provision for appointment of Alternate Director.
    • Invesco Mutual FundThe company seeks approval to replace the existing AOA with the new AOA in line with the new Companies Act, 2013. The revised AoA is not available on the website: shareholders shall be required to visit the company’s registered/ corporate office to review and understand the revised AoA. In the absence of any clarity on which clauses will be altered and given that the AoA is not accessible, we are unable to make an informed decision
    11 for2 against

Mutual fund votes, meeting of 15 Sep 2023, 12 fund houses

  • Adoption of financial statements of the Company for the Financial year ended on 31st March, 2023
    12 for0 against
  • Appointment of Mr. Lalit Agarwal (DIN: 00900900) as Director, liable to retire by rotation.
    12 for0 against
  • Re-appointment of Statutory Auditors and fixation of their Remuneration
    12 for0 against
  • Re-appointment of Mr. Govind Shridhar Shrikhande (DIN: 00029419) as an Independent Director of the Company.
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundAssociation may adversely impact independence
    11 for1 against

Mutual fund votes, meeting of 30 Aug 2022, 12 fund houses

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

  • Adoption of financial statements
    12 for0 against
  • To declare the dividend for the financial year 2021-22
    9 for0 against
  • Appointment of Mr. Madan Gopal Agarwal (DIN 02249947) as Director, liable to retire by rotation
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundShareholder's approval not obtained on time for appointment of director
    9 for1 against
  • Approval for payment of Commission to Non- Executive Directors
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this resolution is desired as this is a case of Non-Executive Directors participating in incentive schemes, which should be dissuaded.
    11 for1 against
  • Approval for the re-appointment of Mr. Lalit M Agarwal (DIN 00900900) as Managing Director of the Company and revision in his remuneration
    12 for0 against
  • Approval for re-appointment of Mr. Madan Gopal Agarwal (DIN 02249947) as Whole-time Director of the Company and revision in his remuneration.
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundShareholder's approval not obtained on time for appointment of director
    11 for1 against
  • Approval for amendment in the V-Mart Retail Ltd. Employee Stock Option Plan 2020 (“ESOP Scheme, 2020 ) of the Company.
    Against Kotak Mahindra Mutual Fund, Nippon India Mutual Fund
    • Kotak Mahindra Mutual FundNon-compliant with SEBI SBEB Regulations - Exercise price inadequately disclosed.
    • Nippon India Mutual FundInadequate disclosure
    10 for2 against
3 proposals not matched to one resolution
  • 2) Approve dividend of Rs. 0.75 per equity share of face value Rs. 10.0 each for FY22.
    1 for0 against
  • Approve dividend of Rs. 0.75 per equity share of face value Rs. 10.0 each for FY22
    2 for0 against
  • Reappoint Madan Gopal Agarwal (DIN: 02249947) as Whole-time director for five years from 31 May 2022 and approve revision in his remuneration from 1 April 2022
    2 for0 against

Mutual fund votes, meeting of 25 Aug 2021, 14 fund houses

  • To consider and adopt the Audited Financial Statements of thenCompany for the financial year ended March 31, 2021, along withnthe reports of the Auditors and the Board of Directors thereon.
    14 for0 against
  • To appoint a director in place of Mr. Lalit M. Agarwal (DINn00900900) who retires by rotation and being eligible, offersnhimself for re-appointment.
    14 for0 against
  • Reclassification of Promoter to Public Category
    14 for0 against
  • Approval for remuneration and waiver of excess managerialnremuneration paid to Mr. Lalit M Agarwal, Chairman & ManagingnDirector (DIN:00900900)
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate profits, hence not approved
    12 for1 against

    1 abstained

  • Approval for Remuneration and waiver of excess managerial remuneration paid to Mr. Madan Gopal Agarwal, Whole-time Director (DIN 02249947)
    13 for0 against

    1 abstained

  • Approval for the payment of Commission to Non-Executive Directors
    Against Bank of India Mutual Fund, DSP Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Bank of India Mutual Fund, DSP Mutual Fund, SBI Mutual FundThe commission paid in the past to Non-Executive Directors in reasonable and in line with market practices: ranging from 0. 5% to 0. 7% of profit before tax over the past five years. Notwithstanding, the company has not defined a tenure for payment of commission and the resolution is effectively valid for perpetuity. We believe shareholders must get a chance to periodically approve such payments and therefore do not support the resolution. Further, the company must consider setting a cap in absolute terms on the commission payable.
    • HSBC Mutual FundA vote AGAINST this resolution is desired as this is a case of Non-Executive Director participating in incentive schemes, which should be dissuaded.
    • Invesco Mutual FundThe commission paid in the past to Non-Executive Directors in reasonable and in line with market practices: ranging from 0.5% to 0.7% of profit before tax over the past five years. Notwithstanding, the company has not defined a tenure for payment of commission and the resolution is effectively valid for perpetuity. We believe shareholders must get a chance to periodically approve such payments and therefore do not support the resolution. Further, the company must consider setting a cap in absolute terms on the commission payable.
    • Nippon India Mutual FundPerpetual approval, hence not approved
    7 for6 against

    1 abstained

  • Payment of remuneration to the Non- Executive, Independent Director(s) of the Company in the event of no profits or inadequate profit
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST this resolution is desired as this is a case of Non-Executive Directors participating in incentive schemes, which should be dissuaded.
    12 for1 against

    1 abstained

  • Approval for amendment in the V-Mart Retail Ltd. Employee Stock Option Plan 2020 (“ESOP Scheme, 2020 ) of the Company.
    Against Bank of India Mutual Fund, DSP Mutual Fund, Invesco Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Bank of India Mutual Fund, DSP Mutual Fund, SBI Mutual FundThe company seeks shareholder approval to increase the option pool under the scheme to 0. 5 mn stock options. The company has disclosed that stock options can be granted at a discount of up to 50% of market price, which further increases the cost under the scheme. While the stock options have performance-based vesting, the scheme gives the Nomination and Remuneration Committee (NRC) overriding powers to amend the grant period, grant price and the eligibility criteria under the ESOP policy without shareholder approval.
    • Invesco Mutual FundThe company seeks shareholder approval to increase the option pool under the scheme to 0.5 mn stock options. The company has disclosed that stock options can be granted at a discount of up to 50% of market price, which further increases the cost under the scheme. While the stock options have performance-based vesting, the scheme gives the Nomination and Remuneration Committee (NRC) overriding powers to amend the grant period, grant price and the eligibility criteria under the ESOP policy without shareholder approval.
    • Nippon India Mutual FundOverriding powers to amend the grant period, grant price and the eligibility criteria to Nomination and Remuneration Committee (NRC)
    9 for5 against

Mutual fund votes, meeting of 30 Sep 2020, 8 fund houses

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

  • ORDINARY - Adoption of financial statements of the Company for the financial year ended March 31, 2020, along with the reports of the Auditors and the Board of Directors thereon
    6 for0 against

    2 abstained

  • ORDINARY - Appointment of Mr. Madan Gopal Agarwal DIN 02249947 as Directors, liable to retire by rotation
    7 for0 against

    1 abstained

  • SPECIAL - Re-appointment of Ms. Sonal Mattoo DIN 00106795 as an Independent Director of the Company for second term of five consecutive years
    7 for0 against

    1 abstained

  • SPECIAL - Re-appointment of Mr. Murli Ramachandran DIN 00264018 as an Independent Director of the Company for second term of five consecutive years.
    7 for0 against

    1 abstained

  • SPECIAL - Approval of V-Mart Retail Ltd. Employee Stock Option Plan 2020 “ESOP Scheme, 2020
    7 for0 against

    1 abstained

  • SPECIAL- Approval for raising funds
    4 for0 against

    1 abstained

  • ORDINARY - Increase in Authorised Share Capital
    7 for0 against

    1 abstained

2 proposals not matched to one resolution
  • Approve issuance of equity linked securities up to Rs. 5.0 bn
    2 for0 against
  • To authorise the Board of Directors to create, issue, offer and allot (including with provisions for reservations on firm and/or competitive basis, or such part of issue and for such categories of persons as may be permitted) such number of Securities (as defined hereinafter), for cash at such price or prices (as may be deemed fit, including a premium or discount) that may be decided by the Board in terms of the applicable regulations and as permitted under the applicable law, in one or more tranches, with or without green shoe option for an aggregate amount of up to Rs 500 Crore by way of a public issue, preferential allotment, private placement, including a qualified institutions placementMoreLess
    1 for0 against

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

Fines

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyAssistant Labour Commissioner (ALC), Firozabad, U.P.Since 30 May 2026

    An order was passed directing payment of alleged wage variance along with compensation. The Company is currently evaluating appropriate legal remedies and appeals on merits.

    Alleged structural interpretation variance regarding the state minimum wage classifications for the period of February 2023 to July 2023.
  • Fine or penaltyAuthority under the Minimum Wages Act, 1948 / Deputy Labour Commissioner, Prayagraj, U.P.Since 18 Apr 2026

    An ex-parte order was issued directing payment of an alleged wage variance and compensation. The Company has already initiated legal proceedings to file a restoration application.

    Alleged non-compliance with localized minimum wage structures for the period from 24.03.2023 to 24.08.2023.
  • Fine or penaltyAuthority under the Minimum Wages Act, 1948 / Regional Assistant Labour Commissioner, Varanasi, U.P.Since 5 Apr 2026

    An ex-parte order was issued regarding alleged wage and overtime variances at the company retail store. The Company is actively pursuing a formal restoration application before the authority.

    Alleged non compliance with local minimum wage structures and short payments/ un-reconciled overtime hours concerning localized retail staff.
  • Fine or penaltyAdditional Chief Judicial Magistrate, Sonitpur, TezpurSince 21 May 2026

    The Court ordered a fine of Rs 1000/- under section 30(2)(i) of Minimum Wages Act, and a fine of Rs 1000/- under section 28 of Payment of Bonus Act, 1965 observed during a routine labour department inspection.

    Alleged procedural/record-keeping gaps under the Minimum Wages Act and Payment of Bonus Act, 1965.
  • Fine or penaltyDeputy Controller (Enforcement), Legal Metrology Department, Jammu & KashmirSince 5 May 2026

    The Department of Legal Metrology imposed a fine on a product manufactured by a third-party vendor in furtherance of a seizure memo dated 17.02.2026. The said Fine was on account of violation of S.36(1) of Legal Metrology Act, 2009.

    Alleged font size and design layout labelling variance under Rule 32(A) of the Legal Metrology (Packaged Commodities) Rules, 2011, committed entirely by a third-party manufacturer on an off-the-shelf pre-packaged productMoreLess
  • Fine or penaltyAdjudicating Officer / Additional District Magistrate (Finance & Revenue), Chitrakoot, U.P.Since 25 May 2026

    A final order was issued regarding a third-party branded product sample ("Tapioca Sago"). The order directs a penalty of Rs 40,000/- on the local manager of the company, while the primary liabilities of compliance under the order rest on the Manufacturer and Marketer of the Product i.e. the third-party supplier/vendor.

    Alleged quality and moisture content variance found under Section 26(2)(ii) of the Food Safety and Standards Act, 2006, strictly involving an intact, sealed item supplied to the store by an external third-party manufacturer.MoreLess
  • Fine or penaltySenior Inspector, Legal Metrology, Prayagraj, U.P.Since 24 Apr 2026

    The Controller of Legal Metrology Departmental imposed a fine on multiple third-party products being retailed at the company store observing violation of labelling rules as per the legal metrology act and rules.

    Alleged font size declaration variances on the packaging labels of multiple third-party branded goods and products retailed at the store under the provisions of the Legal Metrology Act, 2009.
  • Fine or penaltyAssistant Commissioner (State Tax), Mobile Squad, Pilibhit, Uttar PradeshSince 22 May 2026

    An order was issued directing the detention of a vehicle under Section 129 and the subsequent imposition of a penalty of Rs 2,27,688/-. The Company has fulfilled the penalty payment to secure the release of goods and is currently evaluating appropriate legal remedies, with an appeal proposed before the competent appellate authority.

    Alleged procedural variance concerning the expiration of e-way bills during transit under the provisions of Rule 138.
9 more
  • Fine or penaltyState Tax Department, Hyderabad, TelanganaSince 4 May 2026

    Assessment for Financial Years 2021-22 to 2023-24 has been initiated by the GST authority u/s 65 and final order was issued to discharge the liability.

    Alleged audit observations pertaining to short payment of GST and reconciliation variances.
  • Fine or penaltyState Tax Department, Berhampur, OdishaSince 2 Jun 2026

    Assessment for Financial Years 2020-21 to 2023-24 has been initiated by the GST authority u/s 65 and final order was issued to discharge the liability.

    Alleged audit observations relating to short payment of GST and reconciliation difference.
  • Fine or penaltyAsstt. Commissioner - Bokaro I, Divison : Ranchi, CBICSince 25 Aug 2025

    Direction to the company to pay penalty amount of Rs. 41,166/-

    Non compliance of the Goods and Service Tax Act, 2017
  • Fine or penaltyAsstt. Commissioner - Bokaro I, Divison : Ranchi, CBICSince 25 Aug 2025

    Direction to the company to pay penalty amount of Rs. 30,732/-

    Non compliance of the Goods and Service Tax Act, 2017
  • Fine or penaltyAssistant Commissioner of Income Tax, Circle-7(2), KolkataSince 21 Mar 2026

    Direction to the company to pay penalty amount of 9,78,336/-

    Order u/s 271(1)(c) along with demand order u/s 156 received.
  • Fine or penaltyLabour Commissioner, UP Chitrakoot Area, BandaSince 7 Jun 2025

    Received an order passed by labour court Banda for payment of Rs.13,74,614/- based on a complaint filed by labour inspector for non-payment of minimum wages & overtime wages as per applicable statute.

    Non Payment of wages & overtime wages to workers as per the Minimum Wages Act.
  • Fine or penaltyDeputy Labour Commissioner, UP Chitrakoot Area, BandaSince 12 Jun 2025

    Received an order passed by labour court Banda for payment of Rs.11,20,852/- based on a complaint filed by labour inspector for non-payment of minimum wages & overtime wages as per applicable statute.

    Non Payment of wages & overtime wages to workers as per the Minimum Wages Act.
  • Fine or penaltyDistrict Consumer Redressal Forum- SambhalSince 21 May 2025

    Received an ex-parte order passed by district consumer forum for payment of Rs.15,000/- based on a complaint filed by a consumer. The subject matter of dispute raised by the Consumer vide the said matter was pertaining to a promotional scheme implemented at the store of V-Mart.

    The Consumer Forum accepted the case ex-parte observing deficiency of service on account of non-fulfilment of a promotional scheme implemented at the store.
  • Fine or penaltyOffice of the Municipal Council, Banka (Nagar Parishad, Banka), Government of Bihar.Since 20 Jan 2026

    The Municipal Council of Banka has issued a notice regarding the unauthorized installation of promotional flex banners on electric poles within the city limits. A total penalty of Rs. 10,00,000/- was been imposed

    The authority identified the installation of flex banners on electric poles in the Banka city area without prior authorization or permission from the Municipal Council.

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
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.