V.S.T Tillers Tractors logo

V.S.T Tillers Tractors MD, chairman, board of directors and AGM

NSE: VSTTILLERSBSE: 531266Agricultural, Commercial & Construction VehiclesSmall Cap

Last close ₹3,896.60down ₹114.00 (2.84%)BSE ₹3,907.95

Share price at the NSE close on 23 Oct 2026. Previous close ₹4,010.60.

52-week range of traded prices to 23 Oct 2026
₹3,852.00Low, 23 Oct 2026₹6,374.00High, 1 Jan 2026
Market cap
₹3,372 Cr814th largest listed
P/E
31.0
P/B
3.1
Dividend yield
0.64%
ROE
10.4%
ROCE
13.2%
Debt to equity
0.00
Volume, NSE
7,55650.0% delivered

V.S.T Tillers Tractors 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

  • ChairpersonARUN VELLORE SURENDRARelated to the promoter
  • Company Secretary and Compliance OfficerChinmaya Khatua

7 directors4 independent1 executive2 non-executive

  • SIVA KAMESWARI VISSAIndependent · joined Jul 2016 · reappointed Jul 2021 · 119 months as independent · 2 listed boards · 2 as independent · 6 committee seats, 3 as chair
  • VELLORE VELU PRAVINDRANon-executive · joined Jul 2008 · reappointed Jul 2008 · 1 listed board · 1 committee seat
  • VELLORE TIRUVENGADASWAMY RAVINDRAExecutive · joined May 2018 · reappointed Apr 2024 · 1 listed board
  • ARUN VELLORE SURENDRA · ChairpersonNon-executive · joined May 2018 · reappointed May 2018 · 1 listed board · 1 committee seat
  • NANDAKUMAR JAIRAMIndependent · joined Jun 2021 · reappointed Jun 2026 · 51 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • RAJEN KRISHNANAND PADUKONEIndependent · joined May 2023 · reappointed May 2023 · 28 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • KULA AJITH KUMAR RAIIndependent · joined Nov 2023 · reappointed Nov 2023 · 22 months as independent · 2 listed boards · 1 as independent · 3 committee seats

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

Committees and meetings

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

  • Board

    • 15 May 20267 of 7 present4 independent · 96 days in between
    • 7 Feb 20267 of 7 present4 independent

  • Audit Committee

    Chair RAJEN KRISHNANAND PADUKONE

    SIVA KAMESWARI VISSA, KULA AJITH KUMAR RAI, VELLORE VELU PRAVINDRA

    • 15 May 20264 of 4 present3 independent · 96 days in between
    • 7 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair RAJEN KRISHNANAND PADUKONE

    NANDAKUMAR JAIRAM, ARUN VELLORE SURENDRA

    • 15 May 20263 of 3 present2 independent · 96 days in between
    • 7 Feb 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair RAJEN KRISHNANAND PADUKONE

    NANDAKUMAR JAIRAM, ARUN VELLORE SURENDRA

    • 18 Mar 20263 of 3 present2 independent

  • Risk Management Committee

    Chair KULA AJITH KUMAR RAI

    RAJEN KRISHNANAND PADUKONE, ARUN VELLORE SURENDRA

    • 3 Feb 20263 of 3 present2 independent

  • Corporate Social Responsibility Committee

    Chair ARUN VELLORE SURENDRA

    RAJEN KRISHNANAND PADUKONE, NANDAKUMAR JAIRAM, VELLORE VELU PRAVINDRA

    No meeting listed in the filing.

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.

  • K.S. Rao & Co.Peer-review certificate valid to Aug 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.S.T Tillers Tractors 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.S.T Tillers Tractors dividend history

Annual general meeting, 23 Sep 2026

26,253 shareholders on the register on 16 Sep 2026; present: 15 promoters and 31 others; votes counted by Prasanna Bedi / Bedi & Sons Corporate Solutions LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.70% · promoters 94.73% · institutions 93.64% · other public 0.87%

  2. To receive, consider and adopt the Audited consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Reports of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.70% · promoters 94.73% · institutions 93.64% · other public 0.87%

  3. To declare final dividend of Rs. 25 /- per equity share for the Financial Year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 72.70% · promoters 94.73% · institutions 93.66% · other public 0.87%

  4. To consider appointment of a director in place of Mr. V V Pravindra (DIN: 00239888), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.01% · other public 1.82%

    Turnout: all 72.70% · promoters 94.73% · institutions 93.66% · other public 0.87%

  5. To appoint Messrs. Brahmayya and Co, Chartered Accountants (Firm Registration No.000515S),as the statutory Auditors of the Company.
    Ordinary
    92.02% for7.98% against

    Against: promoters 0.00% · institutions 29.17% · other public 1.45%

    Turnout: all 72.70% · promoters 94.73% · institutions 93.66% · other public 0.87%

  6. To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2027.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.57%

    Turnout: all 72.70% · promoters 94.73% · institutions 93.66% · other public 0.87%

  7. Appointment of Mrs. Shuba Kumar, (DIN: 02081919) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 72.70% · promoters 94.73% · institutions 93.66% · other public 0.87%

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

Postal ballot, 17 Jun 2026, 1 resolution

25,145 shareholders on the register on 8 May 2026; votes counted by THIRUPAL GORIGE / M/S THIRUPAL GORIGE & ASSOCIATES LLP.The company's voting result (opens in a new tab)

  1. Re-appointment of Dr. Nandakumar Jairam (DIN: 00321693) as an Independent Director of the Company for a second term of five years effective from June 21, 2026, to June 20, 2031 (both days inclusive).
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.90%

    Turnout: all 72.32% · promoters 94.73% · institutions 90.92% · other public 1.26%

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, 10 Sep 2025, 6 resolutions

21,806 shareholders on the register on 3 Sep 2025; present: 19 promoters and 24 others; votes counted by Prasanna Bedi / Bedi & Sons Corporate Solutions LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.43%

    Turnout: all 74.01% · promoters 94.73% · institutions 92.89% · other public 0.57%

  2. To receive, consider and adopt the Audited consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.43%

    Turnout: all 74.01% · promoters 94.73% · institutions 92.89% · other public 0.57%

  3. To declare final dividend of ₹ 20 /- per equity share for the Financial Year ended March 31, 2025.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.43%

    Turnout: all 74.02% · promoters 94.73% · institutions 92.93% · other public 0.57%

  4. To consider appointment of a director in place of Mr. Arun V. Surendra (DIN: 01617103), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    OrdinaryPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.10% · other public 4.48%

    Turnout: all 74.02% · promoters 94.73% · institutions 92.93% · other public 0.57%

  5. To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2026.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.45%

    Turnout: all 74.02% · promoters 94.73% · institutions 92.93% · other public 0.57%

  6. Appointment of Secretarial Auditors of the Company.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.83%

    Turnout: all 74.02% · promoters 94.73% · institutions 92.93% · other public 0.57%

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.

Annual general meeting, 19 Sep 2024, 5 resolutions

Present: 12 promoters and 23 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 42.90%

    Turnout: all 76.76% · promoters 99.82% · institutions 96.11% · other public 0.54%

  2. To receive, consider and adopt the Audited consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 42.92%

    Turnout: all 76.76% · promoters 99.82% · institutions 96.11% · other public 0.54%

  3. To declare final dividend of ¿ 20 /- per equity share for the Financial Year ended March 31, 2024.
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 42.90%

    Turnout: all 76.79% · promoters 99.82% · institutions 96.25% · other public 0.54%

  4. To consider appointment of a director in place of Mr. V.T. Ravindra (DIN: 00396156), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    OrdinaryPromoters have an interest in it
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.02% · other public 42.93%

    Turnout: all 76.79% · promoters 99.82% · institutions 96.25% · other public 0.54%

  5. To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2025.
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 42.90%

    Turnout: all 76.79% · promoters 99.82% · institutions 96.25% · other public 0.54%

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, 21 Jan 2024, 4 resolutions

The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. V.T. Ravindra (DIN: 00396156), as Managing Director of the Company.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 73.26% · promoters 99.23% · institutions 94.45% · other public 1.78%

  2. Approval of the Employee Stock Option Scheme (VST Restricted Stock Unit Plan 2024).
    Special
    96.37% for3.63% against

    Against: promoters 0.00% · institutions 15.04% · other public 0.95%

    Turnout: all 73.26% · promoters 99.23% · institutions 94.45% · other public 1.78%

  3. Approval for grant of employee stock units to the employees of its group company(ies) including Holding, subsidiary(ies) or its associate company(ies) in India or otherwise under of VST Tillers Tractors Limited - Restricted Stock Unit Plan 2024’ (“RSU Plan” / “Plan”).MoreLess
    Special
    79.87% for20.13% against

    Against: promoters 0.00% · institutions 83.52% · other public 0.90%

    Turnout: all 73.26% · promoters 99.23% · institutions 94.45% · other public 1.78%

  4. Appointment of Mr. Kula Ajith Kumar Rai, (DIN: 01160327) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 73.26% · promoters 99.23% · institutions 94.45% · other public 1.78%

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, 1 Sep 2023, 4 resolutions

Present: 26 promoters and 25 others.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, 2023, together with the Reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.41% · promoters 93.96% · institutions 94.53% · other public 0.38%

  2. To declare final dividend of Rs. 25 /- per equity share for the Financial Year ended March 31, 2023.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.50% · promoters 93.96% · institutions 95.01% · other public 0.38%

  3. To consider appointment of a director in place of Mr. V.V Pravindra (DIN: 00239888), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    OrdinaryPromoters have an interest in it
    95.57% for4.43% against

    Against: promoters 0.00% · institutions 16.49% · other public 0.01%

    Turnout: all 71.50% · promoters 93.96% · institutions 95.01% · other public 0.38%

  4. To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2024.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.50% · promoters 93.96% · institutions 95.01% · other public 0.38%

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

Postal ballot, 23 Jul 2023, 1 resolution

The company's voting result (opens in a new tab)

  1. Appointment of Mr. Rajen Krishnanand Padukone (DIN: 00262729) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.27%

    Turnout: all 72.33% · promoters 93.96% · institutions 94.41% · other public 2.25%

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, 19 Aug 2022, 5 resolutions

Present: 25 promoters and 22 others.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, 2022.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.04% · promoters 94.37% · institutions 97.33% · other public 0.40%

  2. To declare Final Dividend of Rs.20/- per equity share for the Financial Year ended March 31, 2022.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 73.06% · promoters 94.37% · institutions 97.41% · other public 0.40%

  3. Appointment of Mr. V. T. Ravindra (DIN: 00396156) a Director who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.20%

    Turnout: all 73.06% · promoters 94.37% · institutions 97.41% · other public 0.40%

  4. Appointment of Mr. V. S. Arun (DIN: 01617103) a Director who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    98.04% for1.96% against

    Against: promoters 0.00% · institutions 6.75% · other public 0.20%

    Turnout: all 73.06% · promoters 94.37% · institutions 97.41% · other public 0.40%

  5. To ratify the remuneration of the Cost Auditors payable for the Financial Year ending March 31, 2023.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.31%

    Turnout: all 73.06% · promoters 94.37% · institutions 97.41% · other public 0.40%

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 17 Jun 2026, 3 fund houses

  • Re-appointment of Dr. Nandakumar Jairam (DIN: 00321693) as an Independent Director of the Company for a second term of five years effective from June 21, 2026, to June 20, 2031 (both days inclusive).
    3 for0 against

Mutual fund votes, meeting of 10 Sep 2025, 4 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 Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    4 for0 against
  • To receive, consider and adopt the Audited consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    4 for0 against
  • To declare final dividend of ₹ 20 /- per equity share for the Financial Year ended March 31, 2025.
    4 for0 against
  • To consider appointment of a director in place of Mr. Arun V. Surendra (DIN: 01617103), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Chairman related to Managing Director, may lead to concentration of power. Excessive Full-Time Positions
    3 for1 against
  • Appointment of Secretarial Auditors of the Company.
    4 for0 against
1 proposal not matched to one resolution
  • Ratification of remuneration of Rs. 3,00,000/- (Exclusive of applicable GST) per annum plus out of pocket expenses payable to M/s. Rao, Murthy and Associates, Cost Accountants (having Firm Registration No. 000065) appointed by the Board of Directors as Cost Auditors of the Company to conduct the audit of cost records of the Company for the FY 2025-26.MoreLess
    4 for0 against
5 earlier meetings

Mutual fund votes, meeting of 19 Sep 2024, 7 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 Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    7 for0 against
  • To receive, consider and adopt the Audited consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    7 for0 against
  • To declare final dividend of ¿ 20 /- per equity share for the Financial Year ended March 31, 2024.
    7 for0 against
  • To consider appointment of a director in place of Mr. V.T. Ravindra (DIN: 00396156), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    7 for0 against
2 proposals not matched to one resolution
  • Approve remuneration of Rs. 275,000 payable to Rao, Murthy & Associates, cost auditor for FY25
    1 for0 against
  • Ratification of remuneration of Rs. 2,75,000/- (Exclusive of applicable GST) per annum plus out of pocket expenses payable to M/s. Rao, Murthy and Associates, Cost Accountants having Firm Registration No. 000065 appointed by the Board of Directors as Cost Auditors of the Company to conduct the audit of cost records of the Company for the FY 2024 - 25.MoreLess
    6 for0 against

Mutual fund votes, meeting of 21 Jan 2024, 7 fund houses

  • Re-appointment of Mr. V.T. Ravindra (DIN: 00396156), as Managing Director of the Company.
    7 for0 against
  • Approval of the Employee Stock Option Scheme (VST Restricted Stock Unit Plan 2024).
    Against HSBC Mutual Fund
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted because the exact performance conditions, vesting thresholds and targets have not been disclosed.
    6 for1 against
  • Approval for grant of employee stock units to the employees of its group company(ies) including Holding, subsidiary(ies) or its associate company(ies) in India or otherwise under of VST Tillers Tractors Limited - Restricted Stock Unit Plan 2024’ (“RSU Plan” / “Plan”).MoreLess
    Against Bank of India Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bank of India Mutual FundThrough a separate resolution, the company proposes to extend the RSU 2024 scheme to employees of other group companies including holding, subsidiaries associate companies. As of 31 March 2023, the company does not have any subsidiaries or associates. While we support the grant of stock options to employees of unlisted subsidiaries, we do not support these to be extended to employees of group companies, associates or listed holding companies.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Scheme proposed to be extended to Associate Company(ies) without compelling reason.
    • HSBC Mutual FundA vote AGAINST these resolutions is warranted because the exact performance conditions, vesting thresholds and targets have not been disclosed.
    • Kotak Mahindra Mutual FundThe company proposes to extend the RSU 2024 scheme to employees of other group companies including holding, subsidiaries associate companies. As of 31 March 2023, the company does not have any subsidiaries or associates. While we support the grant of stock options to employees of unlisted subsidiaries, we do not support these to be extended to employees of associates. Hence voting against.
    • Nippon India Mutual FundStock options extended to employees of group companies , associates
    1 for6 against
  • Appointment of Mr. Kula Ajith Kumar Rai, (DIN: 01160327) as an Independent Director of the Company.
    7 for0 against

Mutual fund votes, meeting of 1 Sep 2023, 7 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, 2023, together with the Reports of the Board of Directors and Auditors thereon.
    7 for0 against
  • To declare final dividend of Rs. 25 /- per equity share for the Financial Year ended March 31, 2023.
    7 for0 against
  • To consider appointment of a director in place of Mr. V.V Pravindra (DIN: 00239888), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers, himself for re-appointment.MoreLess
    Against HSBC Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund
    • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: The board independence norms are not met (based on our reclassification), and V. V Pravindra is a non-independent director nominee.
    • Motilal Oswal Mutual Fund, PGIM India Mutual FundCompliant with law. No issues on merits of the proposed appointee. Governance concern: Holding two full-time positions.
    4 for3 against
  • To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2024.
    1 for0 against
1 proposal not matched to one resolution
  • Ratification of remuneration of Rs.2.5 Lakhs (Exclusive of applicable GST) per annum plus out of pocket expenses payable to M/s. Rao, Murthy & Associates, Cost Accountants having Firm Registration No. 000065 appointed by the Board of Directors as Cost Auditors of the Company to conduct the audit of cost records of the Company for the financial year 2023-24.MoreLess
    6 for0 against

Mutual fund votes, meeting of 23 Jul 2023, 6 fund houses

  • Appointment of Mr. Rajen Krishnanand Padukone (DIN: 00262729) as an Independent Director of the Company.
    6 for0 against

Mutual fund votes, meeting of 19 Aug 2022, 7 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, 2022.
    6 for0 against
  • To declare Final Dividend of Rs.20/- per equity share for the Financial Year ended March 31, 2022.
    6 for0 against
  • Appointment of Mr. V. T. Ravindra (DIN: 00396156) a Director who retires by rotation and being eligible offers himself for re-appointment.
    6 for0 against
  • Appointment of Mr. V. S. Arun (DIN: 01617103) a Director who retires by rotation and being eligible offers himself for re-appointment.
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundV S Arun, 46, is part of the promoter family and Non-Executive Non-Independent Director of the company. He leads the VST Group’s automobile franchise vertical and the financial services business (NBFC). He attended 100% (5 out of 5) board meetings in FY22. We do not support his reappointment since there are excessive number of family members on the board: one executive director and four non-executive directors.
    5 for1 against
  • To ratify the remuneration of the Cost Auditors payable for the Financial Year ending March 31, 2023.
    6 for0 against
5 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundV S Arun, 46, is part of the promoter family and Non-Executive Non-Independent Director of the company. He leads the VST Group’s automobile franchise vertical and the financial services business (NBFC). He attended 100% (5 out of 5) board meetings in FY22. We do not support his reappointment since there are excessive number of family members on the board: one executive director and four non-executive directors.
    0 for1 against
  • Item 5, as a fund house numbered it
    1 for0 against

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

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeIncome Tax Appellate TribunalSince 12 May 2017
    Status-quo
    At the filing before: Disallowance of expenditure incurred in connection with earning exempted income pertaining to financial year 2010-11.
  • Tax disputeIncome Tax Appellate TribunalSince 1 Apr 2019
    Status-quo
    At the filing before: Disallowance of Marketing Expenses pertaining to financial year 2011-12.
  • Tax disputeCommissioner of Income Tax (Appeals)Since 10 Apr 2019
    Status-quo
    At the filing before: Disallowance of expenditure incurred in connection with earning exempted income pertaining to financial year 2011-12.
  • Tax disputeIncome Tax Appellate TribunalSince 19 Dec 2017
    Status-quo
    At the filing before: Disallowance of expenditure incurred in connection with earning exempted income pertaining to financial year 2012-13.
  • Tax disputeIncome Tax Appellate TribunalSince 10 Feb 2017
    Status-quo
    At the filing before: Disallowance of expenditure incurred in connection with earning exempted income pertaining to financial year 2013-14.
  • Tax disputeCommissioner of Income Tax (Appeals)Since 26 Jan 2020
    Status-quo
    At the filing before: Disallowance of expenditure incurred in connection with earning exempted income pertaining to financial year 2016-17.
  • Tax disputeCommissioner of Income Tax (Appeals)Since 15 Apr 2022
    Status-quo
    At the filing before: Disallowance of Advance written off and 80G disallowance pertaining to financial year 2016-17.
  • Tax disputeCommissioner of Income Tax (Appeals)Since 9 Oct 2022
    Status-quo
    At the filing before: Disallowance u/s 14A pertaining to financial year 2019-20.
2 more
  • Tax disputeAppellate TribunalSince 20 May 2017
    Penalty on this case is quashed by the Appellate authority
    At the filing before: Disallowance of Concessional Custom Duty availed under Customs Notification No.12/2012 for Reaper Combinder pertaining to financial year 2014 - 2017.
  • Tax disputeGST Appellate AuthoritySince 26 Mar 2023
    Closed
    At the filing before: There was a demand by the Tamil Nadu GST Dept pertaining to mismatch of Sales as per GSTR 1 and 3B, mismatch of Input tax credit as per GSTR 2A and 3B, Mismatch with E- way bills and non-submission of details for Expenses. This claim of GST Dept relates to last 3 financials year i.e. FY 2017-18 to FY 2019-20.MoreLess

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
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.