Dhanuka Agritech logo

Dhanuka Agritech MD, chairman and AGM

NSE: DHANUKABSE: 507717Fertilizers & AgrochemicalsSmall Cap

Dhanuka Agritech Limited · Face value ₹2 · Listed Sep 1986 on BSE, Jun 2011 on NSE
Last close ₹864.90up ₹32.95 (3.96%)BSE ₹864.15

Share price at the NSE close on 27 Oct 2026. Previous close ₹831.95.

27 Oct: open ₹836.10, high ₹870.00, low ₹831.00

52-week range of traded prices to 27 Oct 2026
₹820.00Low, 26 Oct 2026₹1,470.00High, 31 Oct 2025
Market cap
₹3,856 Cr798th largest listed
P/E
14.38
P/B
2.29
Dividend yield
0.23%
ROE
17.4%
ROCE
18.5%
Debt to equity
0.00
Volume, NSE
24,54850.8% delivered

Dhanuka Agritech's chairperson is Mahendra Kumar Dhanuka and its managing director Rahul Dhanuka, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 3 Aug 2026.

Dhanuka Agritech board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonMahendra Kumar DhanukaRelated to the promoter
  • Managing directorRahul Dhanuka
  • Company Secretary and Compliance OfficerJitin Sadana

10 directors5 independent4 executive1 non-executive

  • Mahendra Kumar Dhanuka · ChairpersonExecutive · joined Feb 1985 · reappointed Aug 2024 · 25 months as independent · 1 listed board · 1 committee seat
  • Rahul Dhanuka · Managing directorExecutive · joined Jan 2002 · reappointed May 2022 · 52 months as independent · 1 listed board · 1 committee seat
  • Ashish SarafExecutive · joined Mar 2017 · reappointed Mar 2022 · 54 months as independent · 1 listed board
  • Sanjay SaxenaIndependent · joined May 2018 · reappointed May 2023 · 100 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Bajrang Lal BajajIndependent · joined May 2019 · reappointed May 2024 · 88 months as independent · 2 listed boards · 2 as independent · 1 committee seat
  • Harsh DhanukaExecutive · joined May 2019 · reappointed May 2024 · 28 months as independent · 1 listed board · 1 committee seat
  • Manish DhanukaNon-executive · joined Nov 2023 · reappointed Nov 2023 · 34 months as independent · 2 listed boards
  • Satish Kumar GuptaIndependent · joined May 2024 · reappointed May 2024 · 28 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Namrata GuptaIndependent · joined May 2019 · reappointed May 2024 · 88 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Sanjiv GoelIndependent · joined Feb 2026 · reappointed Feb 2026 · 7 months as independent · 1 listed board · 1 as independent

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
  • Sachin Kumar Bhartiya, left 9 Feb 2026: Tenure Completion
  • Siraj Azmat Chaudhary, left 21 Jul 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 3 Aug 20268 of 10 present5 independent · 75 days in between
    • 19 May 202610 of 10 present5 independent

  • Audit Committee

    Chair Satish Kumar Gupta

    Sanjay Saxena, Bajrang Lal Bajaj, Mahendra Kumar Dhanuka

    • 3 Aug 20264 of 4 present3 independent · 75 days in between
    • 19 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Sanjay Saxena

    Bajrang Lal Bajaj, Satish Kumar Gupta

    • 19 May 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Sanjay Saxena

    Namrata Gupta, Rahul Dhanuka, Harsh Dhanuka

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Rahul Dhanuka

    Sanjay Saxena, Harsh Dhanuka, Vinod Kumar Bansal

    • 5 Aug 20262 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair Mahendra Kumar Dhanuka

    Bajrang Lal Bajaj, Ashish Saraf

    • 19 May 20263 of 3 present1 independent

  • Banking,Finance and Operations Committee

    Chair Mahendra Kumar Dhanuka

    Rahul Dhanuka, Harsh Dhanuka, Ashish Saraf

    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.

  • S S Kothari Mehta & Co. LLPPeer-review certificate valid to Aug 2028

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.

Dhanuka Agritech 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.Dhanuka Agritech dividend history

Annual general meeting, 3 Aug 2026

42,503 shareholders on the register on 27 Jul 2026; present: 4 promoters and 91 others; votes counted by Ashok / VAPN & Associates.The company's voting result

  1. To receive, consider, and adopt the Audited 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
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.87%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.50% · other public 0.12%

  2. To declare the Final Dividend on Equity Shares for the Financial Year ended March 31 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.33%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.53% · other public 0.12%

  3. To appoint a Director in place of Mr. Harsh Dhanuka (DIN:00199516), Executive Director of the Company, who retires by rotation and being eligible, offers himself for reappointment;
    Ordinary
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.56% · other public 1.91%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.53% · other public 0.12%

  4. To appoint a Director in place of Mr. Ashish Saraf (DIN:07767324), Executive Director of the Company, who retires by rotation and being eligible, offers himself for reappointment
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.97%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.53% · other public 0.12%

  5. Ratification of remuneration payable to Cost Auditors of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.87%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.53% · other public 0.12%

  6. Approval of Dhanuka Employee Stock Option Plan 2026 (ESOP 2026/ Plan) and grant of Employee Stock Options to the eligible employees of the Company
    Special
    81.11% for18.89% against

    Against: promoters 0.00% · institutions 93.22% · other public 2.76%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.53% · other public 0.12%

  7. Approval of Dhanuka Stock Appreciation Rights Plan 2026 (SAR 2026/ Plan) and grant of Stock Appreciation Rights to the eligible employees of the Company
    Special
    98.86% for1.14% against

    Against: promoters 0.00% · institutions 5.62% · other public 2.76%

    Turnout: all 87.49% · promoters 99.91% · institutions 86.53% · other public 0.12%

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

Postal ballot, 19 Mar 2026, 1 resolution

40,379 shareholders on the register on 13 Feb 2026; votes counted by ASHOK KUMAR / VAPN & ASSOCIATES, COMPANY SECRETARIES.The company's voting result

  1. Appointment of Mr Sanjiv Goel (DIN: 03616090) as an Independent Director of the Company, for the first term of 5 years
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.57%

    Turnout: all 86.77% · promoters 98.77% · institutions 85.34% · other public 0.23%

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 Aug 2025, 8 resolutions

43,038 shareholders on the register on 25 Jul 2025; present: 6 promoters and 63 others; votes counted by Ashok / VAPN & Associates.The company's voting result

  1. To receive, consider, and adopt the Standalone and Consolidated Audited 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
    100.00% for0.00% against

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

    Turnout: all 86.05% · promoters 99.74% · institutions 81.81% · other public 0.07%

  2. To declare the Final Dividend on Equity Shares for the Financial Year ended March 31, 2025;
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

  3. To appoint a Director in place of Mr. Mahendra Kumar Dhanuka (DIN:00628039), Chairman & Executive Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment;MoreLess
    Ordinary
    99.26% for0.74% against

    Against: promoters 0.00% · institutions 3.83% · other public 0.33%

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

  4. To appoint a Director in place of Mr. Manish Dhanuka (DIN:00238798), Non-Executive Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment;
    Ordinary
    98.79% for1.21% against

    Against: promoters 0.00% · institutions 6.30% · other public 0.13%

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

  5. Appointment of M/s. Ranjeet Pandey & Associates, Company Secretaries in Practice as Secretarial Auditors for a term of 5(Five) consecutive years & to fix their remuneration;
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

  6. Ratification of remuneration of Cost Auditors;
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.26%

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

  7. Increase the Annual Commission payable to Mr. Mahendra Kumar Dhanuka, Chairman & Executive Director;
    SpecialPromoters have an interest in it
    97.06% for2.94% against

    Against: promoters 0.00% · institutions 15.28% · other public 1.82%

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

  8. Fix the upper cap on the remuneration payable to the Promoter Directors;
    SpecialPromoters have an interest in it
    95.61% for4.39% against

    Against: promoters 0.00% · institutions 22.84% · other public 0.42%

    Turnout: all 86.08% · promoters 99.74% · institutions 81.99% · other public 0.07%

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, 13 Sep 2024, 3 resolutions
  1. 1. To designate Mr. Ram Gopal Agarwal on an Honorary position as CHAIRMAN EMERITUS
    SpecialPromoters have an interest in it
    79.57% for20.43% against

    Against: promoters 0.00% · institutions 90.79% · other public 4.17%

    Turnout: all 89.36% · promoters 98.61% · institutions 96.79% · other public 0.51%

  2. 2. To designate Mr. Mahendra Kumar Dhanuka (DIN:00628039) as Chairman & Whole-Time Director of the Company
    SpecialPromoters have an interest in it
    96.38% for3.62% against

    Against: promoters 0.00% · institutions 16.06% · other public 1.98%

    Turnout: all 89.36% · promoters 98.61% · institutions 96.79% · other public 0.51%

  3. 3. To designate Mr. Rahul Dhanuka (DIN:00150140) as Managing Director of the Company
    SpecialPromoters have an interest in it
    96.38% for3.62% against

    Against: promoters 0.00% · institutions 16.06% · other public 2.10%

    Turnout: all 89.36% · promoters 98.61% · institutions 96.79% · other public 0.51%

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, 2 Aug 2024, 11 resolutions

Present: 10 promoters and 55 others.

  1. To receive, consider, and adopt the Standalone and Consolidated Audited 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 n nTo receive, consider, and adopt the Standalone and Consolidated Audited 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 n nMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.23%

    Turnout: all 90.19% · promoters 99.70% · institutions 96.95% · other public 0.18%

  2. To declare the Final Dividend on Equity Shares for the Financial Year ended March 31, 2024 n n
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  3. To appoint a Director in place of Mr. Harsh Dhanuka (DIN:00199516), Executive Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment n n
    OrdinaryPromoters have an interest in it
    98.10% for1.90% against

    Against: promoters 0.00% · institutions 8.47% · other public 1.60%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  4. To appoint a Director in place of Mr. Ashish Saraf (DIN: 07767324), Whole-Time Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment n n
    Ordinary
    99.25% for0.75% against

    Against: promoters 0.00% · institutions 3.34% · other public 1.60%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  5. Ratification of remuneration of Cost Auditors n n
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.88%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  6. Re-appointment of Mr. Bajrang Lal Bajaj (DIN:00041909) as an Independent Director of the Company, for the second term of 5 years n n
    Special
    98.65% for1.35% against

    Against: promoters 0.00% · institutions 6.02% · other public 1.60%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  7. Re-appointment of Ms. Namrata Gupta (DIN:08358673), as an Independent Director of the Company, for the second term of 5 years n n
    Special
    98.69% for1.31% against

    Against: promoters 0.00% · institutions 5.83% · other public 1.60%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  8. Appointment of Mr. Satish Kumar Gupta (DIN: 00766438) as an Independent Director of the Company, for the first term of 5 years n n
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.60%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  9. Re-appointment and Remuneration of Mr. Harsh Dhanuka (DIN: 00199516) as Executive Director of the Company, for a further period of 5 years n n
    SpecialPromoters have an interest in it
    94.29% for5.71% against

    Against: promoters 0.00% · institutions 25.50% · other public 2.22%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  10. Continuation of the appointment of Mr. Mahendra Kumar Dhanuka (DIN 00628039), Vice Chairman & Managing Director of the Company even after attaining the age of 70 years n n
    SpecialPromoters have an interest in it
    97.88% for2.12% against

    Against: promoters 0.00% · institutions 9.46% · other public 1.71%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

  11. Re-appointment and Remuneration of Mr. Mahendra Kumar Dhanuka (DIN: 00628039) as Managing Director under the designation Vice Chairman & Managing Director of the Company, for a further period of 5 years n nMoreLess
    SpecialPromoters have an interest in it
    94.51% for5.49% against

    Against: promoters 0.00% · institutions 24.50% · other public 7.65%

    Turnout: all 90.20% · promoters 99.70% · institutions 97.01% · other public 0.18%

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, 22 Dec 2023, 2 resolutions
  1. Appointment of Mr. Manish Dhanuka (DIN: 00238798) as Non-Executive & Non-Independent Director of the Company
    Ordinary
    95.97% for4.03% against

    Against: promoters 0.00% · institutions 18.99% · other public 1.93%

    Turnout: all 88.75% · promoters 99.58% · institutions 94.54% · other public 0.47%

  2. Providing loan facility upto Rs. 50 crores to Dhanuka Laboratories Limited (DLL):
    SpecialPromoters have an interest in it
    79.47% for20.53% against

    Against: promoters 0.00% · institutions 96.73% · other public 40.71%

    Turnout: all 88.76% · promoters 99.58% · institutions 94.54% · other public 0.52%

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, 2 Aug 2023, 9 resolutions

Present: 12 promoters and 80 others.

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements for the Financial Year ended 31st March, 2023 together with the Reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.84%

    Turnout: all 88.00% · promoters 98.96% · institutions 88.81% · other public 0.11%

  2. To declare Dividend on Equity Shares for the Financial Year ended March 31, 2023
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.07%

    Turnout: all 88.04% · promoters 98.96% · institutions 89.00% · other public 0.11%

  3. To appoint a Director in place of Mr. Ram Gopal Agarwal (DIN :00627386), Whole-time Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.43% for0.57% against

    Against: promoters 0.00% · institutions 2.70% · other public 3.24%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

  4. To appoint a Director in place of Mr. Mridul Dhanuka (DIN:00199441), Non-Executive Director of the Company who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 2.66% · other public 3.24%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

  5. To re-appoint M/s. S.S. Kothari Mehta & Co., Chartered Accountants as Statutory Auditors of the Company for a further period of 5 years (second term).
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.03%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

  6. Ratification of remuneration of Cost Auditors
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.40%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

  7. Increase the Annual Commission payable to Mr. Harsh Dhanuka, Executive Director- Alliances & Supply Chain
    SpecialPromoters have an interest in it
    93.32% for6.68% against

    Against: promoters 0.00% · institutions 31.66% · other public 4.98%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

  8. Shifting of Registered Office of the Company from the Union Territory of Delhi to the state of Haryana.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.03%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

  9. To consider and approve the Alteration of Memorandum of Association pursuant to the shifting of the Registered Office from the Union Territory of Delhi to the state of Haryana
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.03%

    Turnout: all 88.03% · promoters 98.96% · institutions 89.00% · other public 0.06%

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, 2 Aug 2022, 8 resolutions

Present: 19 promoters and 34 others.

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements for the Financial Year ended 31st March, 2022 together with the Reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 85.72% · promoters 97.17% · institutions 83.93% · other public 0.07%

  2. To declare Final Dividend @ 300% i.e. Rs. 6/- per Equity Share for the Financial Year ended 31st March, 2022
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 16.78%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

  3. To appoint a Director in place of Mr. Rahul Dhanuka (DIN:00150140), Whole-Time Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.64% for0.36% against

    Against: promoters 0.00% · institutions 1.73% · other public 1.88%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

  4. To appoint a Director in place of Mr. Arun Kumar Dhanuka (DIN:00627425), Whole-time Director, who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.64% for0.36% against

    Against: promoters 0.00% · institutions 1.72% · other public 2.25%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

  5. Ratification of Remuneration of Cost Auditors
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.19%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

  6. Re-appointment of Mr. Sanjay Saxena (DIN: 01257965) as an Independent Director of the Company, for second term of 5 years
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.10% · other public 1.88%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

  7. Re-appointment of Mr. Ram Gopal Agarwal (DIN: 00627386) as Whole Time Director under the designation Chairman of the Company, for a further period of 5 years.
    SpecialPromoters have an interest in it
    93.32% for6.68% against

    Against: promoters 0.00% · institutions 32.37% · other public 4.13%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

  8. Payment of remuneration to Mr. Rahul Dhanuka as Whole-time Director in terms of Regulation 17(6)(e) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015
    SpecialPromoters have an interest in it
    93.33% for6.67% against

    Against: promoters 0.00% · institutions 32.32% · other public 3.93%

    Turnout: all 85.73% · promoters 97.17% · institutions 83.96% · other public 0.07%

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 3 Aug 2026, 8 fund houses

  • To receive, consider, and adopt the Audited 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
    8 for0 against
  • To declare the Final Dividend on Equity Shares for the Financial Year ended March 31 2026
    8 for0 against
  • To appoint a Director in place of Mr. Harsh Dhanuka (DIN:00199516), Executive Director of the Company, who retires by rotation and being eligible, offers himself for reappointment;
    Against Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern w.r.t. merit of proposed appointee. Governance concern: Skewed remuneration practice in favor of promoter Executive Directors of the Company.
    6 for2 against
  • To appoint a Director in place of Mr. Ashish Saraf (DIN:07767324), Executive Director of the Company, who retires by rotation and being eligible, offers himself for reappointment
    8 for0 against
  • Ratification of remuneration payable to Cost Auditors of the Company
    8 for0 against
  • Approval of Dhanuka Employee Stock Option Plan 2026 (ESOP 2026/ Plan) and grant of Employee Stock Options to the eligible employees of the Company
    Against Bandhan Mutual Fund, DSP Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Exercise period-NRC has discretion to alter the exercise period and change the exercise period at its discretion, which may result in situations where exercise period is not uniformly applicable to all employees.
    • DSP Mutual FundUnder ESOP 2026, the company can issue up to 50,000 stock options at an exercise price equivalent to the face value which is currently Rs. 2.0. The vesting of the stock options will be based on continued employment with the company. We do not favour ESOP schemes where the exercise price can be at a significant discount to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the options are issued at significant discount to the market price. Further, in case of a deep discount we expect the vesting of the stock options to be based on clearly defined performance metrics along with a confirmation that the targets along with their achievement will be disclosed by the company in the subsequent annual reports. Hence, we do not support the resolution.
    • HDFC Mutual FundESOPs are being granted at a deep discount to market price. We do not support the resolution.
    • Kotak Mahindra Mutual FundUnder ESOP 2026, the company can issue up to 50,000 stock options at an exercise price equivalent to the face value which is currently Rs. 2.0. The vesting of the stock options will be based on continued employment with the company. The company states, that company is issuing the ESOPs on face value, and it is as per the regulatory requirements. the maximum number of stocks would be 50000 shares which is .11% of existing paid-up capital. Details of ESOP Scheme mentions that vesting period is minimum 1 year and maximum 5 years, as may be determined by Board. Moreover, for the exercise period for the ESOPs, it is mentioned that it will commence from date of vesting but upto 8 years or lesser and at the discretion of NRC. We do not support the discretion in case of ESOPs. Hence, we do not favour the resolution.
    2 for6 against
  • Approval of Dhanuka Stock Appreciation Rights Plan 2026 (SAR 2026/ Plan) and grant of Stock Appreciation Rights to the eligible employees of the Company
    Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations 2021: Exercise Price to be determined as per Board/NRC discretion; such disclosure defeats the intended purpose of law. Governance Concern: Exercise period-NRC has discretion to alter the exercise period and change the exercise period at its discretion; lesser period as may be decided by the Committee.
    5 for3 against

Mutual fund votes, meeting of 19 Mar 2026, 10 fund houses

  • Appointment of Mr Sanjiv Goel (DIN: 03616090) as an Independent Director of the Company, for the first term of 5 years
    10 for0 against

Mutual fund votes, meeting of 1 Aug 2025, 7 fund houses

8 proposals
  • To receive, consider, and adopt the Standalone and Consolidated Audited 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
    7 for0 against
  • To declare the Final Dividend on Equity Shares for the Financial Year ended March 31, 2025;
    7 for0 against
  • To appoint a Director in place of Mr. Mahendra Kumar Dhanuka (DIN:00628039), Chairman & Executive Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment;MoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. No concern on the merits of the Director. Governance concern: Combined position of Executive Chairman; Skewed remuneration practice towards Promoter Directors
    6 for1 against
  • To appoint a Director in place of Mr. Manish Dhanuka (DIN:00238798), Non-Executive Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment;
    7 for0 against
  • Appointment of M/s. Ranjeet Pandey & Associates, Company Secretaries in Practice as Secretarial Auditors for a term of 5(Five) consecutive years & to fix their remuneration;
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNo concern on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed fee payable to Secretarial Auditors not disclosed.
    6 for1 against
  • Ratification of remuneration of Cost Auditors;
    7 for0 against
  • Increase the Annual Commission payable to Mr. Mahendra Kumar Dhanuka, Chairman & Executive Director;
    Against Bandhan Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of the Director. Governance concern: Combined position of Executive Chairman; Skewed remuneration practice towards Promoter Directors
    • HDFC Mutual FundMr. Mahendra Dhanuka's proposed remuneration is higher for the size and scale of business. We do not support the resolution.
    4 for3 against
  • Fix the upper cap on the remuneration payable to the Promoter Directors;
    Against Bandhan Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration practice and increased limits are excessive
    • HDFC Mutual FundThe promoter family remuneration is high at considering the size and scale of business. We do not support the resolution.
    4 for3 against

Mutual fund votes, meeting of 13 Sep 2024, 10 fund houses

3 proposals
  • 1. To designate Mr. Ram Gopal Agarwal on an Honorary position as CHAIRMAN EMERITUS
    Against Axis Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Axis Mutual Fund, DSP Mutual FundRam Gopal Agarwal, 75, is the founder and former Executive Chairperson of the company. He had relinquished the position of Executive Chairperson of the company w.e.f. 2 August 2024 and is being designated as Chairperson Emeritus. The company has mentioned that he will not draw any salary from the company but will only be entitled to the certain benefits and perquisites which may exceed Rs. 0.25 mn per month. We acknowledge his contribution towards the growth of the company. However, the company seeks approval to reimburse first class air fare for him and his family/dependent and medical expenses of self and family, which are personal in nature – such personal expenses must be borne by the director themselves. We expect the Nomination and Remuneration Committee to cap the value of these benefits/perquisites. We are unable to support the resolution.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Governance concern: No absolute cap on benefits.
    • HDFC Mutual FundThe shareholders would not get a chance to periodically review the appointment of the director as he is not liable to retire by rotation
    • Kotak Mahindra Mutual FundRam Gopal Agarwal, 75, is the founder and former Executive Chairperson of the company. He had relinquished the position of Executive Chairperson of the company w.e.f. 2 August 2024 and is being designated as Chairperson Emeritus. We acknowledge his contribution towards the growth of the company. However, since the company has not provided clarification on the details of the actual expenses that will be reimbursed to him, voting against the resolution.
    3 for7 against
  • 2. To designate Mr. Mahendra Kumar Dhanuka (DIN:00628039) as Chairman & Whole-Time Director of the Company
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of executive chairman; skewed remuneration practice
    7 for3 against
  • 3. To designate Mr. Rahul Dhanuka (DIN:00150140) as Managing Director of the Company
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundComplaint with law. Governance concern: Skewed remuneration practice
    7 for3 against

Mutual fund votes, meeting of 2 Aug 2024, 10 fund houses

11 proposals
  • To receive, consider, and adopt the Standalone and Consolidated Audited 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 n nTo receive, consider, and adopt the Standalone and Consolidated Audited 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 n nMoreLess
    10 for0 against
  • To declare the Final Dividend on Equity Shares for the Financial Year ended March 31, 2024 n n
    10 for0 against
  • To appoint a Director in place of Mr. Harsh Dhanuka (DIN:00199516), Executive Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment n n
    Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: No absolute cap on variable pay, Skewed remuneration towards promoters.
    5 for5 against
  • To appoint a Director in place of Mr. Ashish Saraf (DIN: 07767324), Whole-Time Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment n n
    10 for0 against
  • Ratification of remuneration of Cost Auditors n n
    10 for0 against
  • Re-appointment of Mr. Bajrang Lal Bajaj (DIN:00041909) as an Independent Director of the Company, for the second term of 5 years n n
    Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as an ID
    5 for5 against
  • Re-appointment of Ms. Namrata Gupta (DIN:08358673), as an Independent Director of the Company, for the second term of 5 years n n
    Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as an ID
    5 for5 against
  • Appointment of Mr. Satish Kumar Gupta (DIN: 00766438) as an Independent Director of the Company, for the first term of 5 years n n
    10 for0 against
  • Re-appointment and Remuneration of Mr. Harsh Dhanuka (DIN: 00199516) as Executive Director of the Company, for a further period of 5 years n n
    Against Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Axis Mutual FundHarsh Dhanuka, 41, is a part of promoter group and Executive Director - Alliances & Supply Chain. He has been associated with the company since 2007. He has attended all four board meetings held in FY24. The company has capped Harsh Dhanuka’s pay at Rs 50.0 mn and the promoter executive pay at Rs 400.0 mn for the period FY23 to FY27. We estimate Harsh Dhanuka’s FY25 pay at Rs 50.0 mn: which is high in comparison to peers. In FY24, the aggregate promoter family remuneration was high at Rs 237.3 mn (7.4% of the consolidated profits of FY24). Further, there is a high number of promoter family members on the board of the company (four executive directors including Harsh Dhanuka and one non-executive director). Hence, we do not support the resolution.
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: No absolute cap on variable pay, Skewed remuneration towards promoters.
    4 for6 against
  • Continuation of the appointment of Mr. Mahendra Kumar Dhanuka (DIN 00628039), Vice Chairman & Managing Director of the Company even after attaining the age of 70 years n n
    Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundNo concern on merit of Director. Non-compliant with Companies Act 2013: No prior approval of shareholders for attaining age of 70 years. Governance concern: No absolute cap on variable pay, Skewed remuneration towards promoters.
    5 for5 against
  • Re-appointment and Remuneration of Mr. Mahendra Kumar Dhanuka (DIN: 00628039) as Managing Director under the designation Vice Chairman & Managing Director of the Company, for a further period of 5 years n nMoreLess
    Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundNo concern on merit of Director. Non-compliant with Companies Act 2013: No prior approval of shareholders for attaining age of 70 years. Governance concern: No absolute cap on variable pay, Skewed remuneration towards promoters.
    5 for5 against

Mutual fund votes, meeting of 22 Dec 2023, 4 fund houses

2 proposals
  • Appointment of Mr. Manish Dhanuka (DIN: 00238798) as Non-Executive & Non-Independent Director of the Company
    4 for0 against
  • Providing loan facility upto Rs. 50 crores to Dhanuka Laboratories Limited (DLL):
    Against HDFC Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund
    • HDFC Mutual FundLack of clarity on the rationale for granting loan as well as the full terms of the transaction including interest and repayment period
    • JM Financial Mutual FundNon-compliant: Non-disclosure of full particulars as required under Section 185(2) of Companies Act, 2013.
    • Kotak Mahindra Mutual FundThe resolution contains non-disclosure of full particulars as required under Section 185(2) of Companies Act, 2013 due to which shareholders cannot take an informed decision in absence of the details. Hence voting against.
    1 for3 against

Mutual fund votes, meeting of 2 Aug 2023, 3 fund houses

9 proposals
  • To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements for the Financial Year ended 31st March, 2023 together with the Reports of the Board of Directors and Auditors thereonMoreLess
    3 for0 against
  • To declare Dividend on Equity Shares for the Financial Year ended March 31, 2023
    3 for0 against
  • To appoint a Director in place of Mr. Ram Gopal Agarwal (DIN :00627386), Whole-time Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment
    3 for0 against
  • To appoint a Director in place of Mr. Mridul Dhanuka (DIN:00199441), Non-Executive Director of the Company who retires by rotation and being eligible, offers himself for re-appointment
    3 for0 against
  • To re-appoint M/s. S.S. Kothari Mehta & Co., Chartered Accountants as Statutory Auditors of the Company for a further period of 5 years (second term).
    3 for0 against
  • Ratification of remuneration of Cost Auditors
    3 for0 against
  • Increase the Annual Commission payable to Mr. Harsh Dhanuka, Executive Director- Alliances & Supply Chain
    Against HDFC Mutual Fund
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    2 for1 against
  • Shifting of Registered Office of the Company from the Union Territory of Delhi to the state of Haryana.
    3 for0 against
  • To consider and approve the Alteration of Memorandum of Association pursuant to the shifting of the Registered Office from the Union Territory of Delhi to the state of Haryana
    3 for0 against

Mutual fund votes, meeting of 2 Aug 2022, 5 fund houses

8 proposals
  • To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements for the Financial Year ended 31st March, 2022 together with the Reports of the Board of Directors and Auditors thereonMoreLess
    5 for0 against
  • To declare Final Dividend @ 300% i.e. Rs. 6/- per Equity Share for the Financial Year ended 31st March, 2022
    5 for0 against
  • To appoint a Director in place of Mr. Rahul Dhanuka (DIN:00150140), Whole-Time Director of the Company, who retires by rotation and being eligible, offers himself for re-appointment.
    5 for0 against
  • To appoint a Director in place of Mr. Arun Kumar Dhanuka (DIN:00627425), Whole-time Director, who retires by rotation and being eligible, offers himself for re-appointment.
    5 for0 against
  • Ratification of Remuneration of Cost Auditors
    5 for0 against
  • Re-appointment of Mr. Sanjay Saxena (DIN: 01257965) as an Independent Director of the Company, for second term of 5 years
    5 for0 against
  • Re-appointment of Mr. Ram Gopal Agarwal (DIN: 00627386) as Whole Time Director under the designation Chairman of the Company, for a further period of 5 years.
    Against HDFC Mutual Fund, ICICI Prudential Mutual Fund
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    • ICICI Prudential Mutual FundThe AMC has voted against the resolution as the estimated proposed remuneration for FY2023 is high in comparison to industry peers and the size of the business. Further, with six promoter family members on the board, the total promoter remuneration paid in FY2022 was high, being 9.5% of consolidated Profit Before tax for FY2022.
    3 for2 against
  • Payment of remuneration to Mr. Rahul Dhanuka as Whole-time Director in terms of Regulation 17(6)(e) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015
    Against HDFC Mutual Fund, ICICI Prudential Mutual Fund
    • HDFC Mutual FundThe proposed remuneration is high considering the size and complexity of the business
    • ICICI Prudential Mutual FundThe AMC has voted against the resolution as the estimated proposed remuneration for FY2023 is high in comparison to industry peers and the size of the business. Further, with six promoter family members on the board, the total promoter remuneration paid in FY2022 was high at 9.5% of consolidated Profit Before tax for FY2022 .The company is seeking approval to pay remuneration that may exceed 2.5% of net profits or ₹50.0 million and aggregate remuneration to all executive directors may exceed 5% of the net profits of the company. There is no cap on overall remuneration in absolute terms.
    3 for2 against

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

Stakes in unlisted companies

Reported in the filing for the quarter to Sep 2026.

  • Unlisted stake boughtDhanuka Agritech Europe Private LimitedSince 26 Aug 2026

    100.00% bought in the quarter; holding 100.00%, from 0.00%

Investor complaints and compliance

Quarter by quarter.

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

  • Received
  • Resolved
00Dec 2422Mar 2500Jun 2500Sep 2500Dec 2511Mar 2622Jun 2600Sep 26

Open at the quarter's end

0Dec 240Mar 250Jun 250Sep 250Dec 250Mar 260Jun 260Sep 26
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
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.