Kirloskar Brothers MD, chairman and AGM
NSE: KIRLOSBROSBSE: 500241Industrial ProductsSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹1,551.40.
28 Oct: open ₹1,590.00, high ₹1,592.70, low ₹1,500.00
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹12,416 Cr475th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 33.01
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹41 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 29.74
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 4.83
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.45%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 15.7%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹41 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 17.5%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 16.3%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.08
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 71,14026.3% delivered
Kirloskar Brothers' chairperson and managing director is Sanjay Chandrakant Kirloskar and its managing director Rama Sanjay Kirloskar, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 31 Jul 2026.
Kirloskar Brothers 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
- Chairperson and managing directorSanjay Chandrakant KirloskarRelated to the promoter
- Managing directorRama Sanjay Kirloskar
- Company Secretary and Compliance OfficerDevang trivedi
11 directors7 independent2 executive2 non-executive
- Sanjay Chandrakant Kirloskar · Chairperson and managing directorExecutive · joined Nov 1985 · reappointed Nov 2025 · 3 listed boards · 2 as independent · 4 committee seats, 1 as chair
- Alok Sanjay KirloskarNon-executive · joined Jul 2012 · reappointed Aug 2023 · 1 listed board · 1 committee seat
- Rama Sanjay Kirloskar · Managing directorExecutive · joined Jul 2017 · reappointed Aug 2026 · 3 listed boards · 2 as independent · 1 committee seat
- Vivek Sharad PendharkarIndependent · joined Oct 2021 · reappointed Oct 2021 · 59 months as independent · 1 listed board · 1 as independent
- Rekha SethiIndependent · joined Oct 2021 · reappointed Oct 2021 · 59 months as independent · 4 listed boards · 4 as independent · 3 committee seats, 1 as chair
- Vinayak Kashinath DeshpandeIndependent · joined Aug 2023 · reappointed Aug 2023 · 38 months as independent · 4 listed boards · 4 as independent · 4 committee seats, 2 as chair
- Pradyumna Rameshchandra VyasIndependent · joined May 2025 · reappointed May 2025 · 17 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
- M S UnnikrishnanNon-executive · joined Jun 2025 · reappointed Jun 2025 · 16 months as independent · 4 listed boards · 3 as independent · 3 committee seats
- Harsh Vardhan ShringlaIndependent · joined Aug 2025 · reappointed Aug 2025 · 14 months as independent · 2 listed boards · 2 as independent
- Brij Bhushan NagpalIndependent · joined Nov 2025 · reappointed Nov 2025 · 11 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Madhuri Rajeev KanitkarIndependent · joined Sep 2026 · reappointed Sep 2026 · 0 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.
3 directors who left
- Shobinder Duggal, left 24 May 2026: Tenure Completion
- Shrinivas Dempo, left 24 May 2026: Tenure Completion
- Ramni Nirula, left 24 May 2026: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 31 Jul 202610 of 10 present6 independent · 78 days in between
- 13 May 202612 of 13 present8 independent
Audit Committee
Chair Brij Bhushan Nagpal
Vinayak Kashinath Deshpande, M S Unnikrishnan, Pradyumna Rameshchandra Vyas
- 31 Jul 20264 of 4 present3 independent · 13 days in between
- 17 Jul 20264 of 4 present3 independent · 64 days in between
- 12 May 20265 of 5 present4 independent
Nomination and remuneration committee
Chair Vinayak Kashinath Deshpande
Rekha Sethi, M S Unnikrishnan, Pradyumna Rameshchandra Vyas
- 12 May 20266 of 6 present4 independent
Stakeholders Relationship Committee
Chair Vinayak Kashinath Deshpande
Sanjay Chandrakant Kirloskar, Alok Sanjay Kirloskar, Brij Bhushan Nagpal
- 12 May 20264 of 4 present2 independent
Risk Management Committee
Chair M S Unnikrishnan
Rama Sanjay Kirloskar, Vinayak Kashinath Deshpande, Bhavesh Chheda
- 13 Aug 20263 of 3 present1 independent · 207 days in between
- 17 Jan 20263 of 3 present1 independent
Corporate Social Responsibility Committee
Chair Vivek Sharad Pendharkar
Sanjay Chandrakant Kirloskar, Rama Sanjay Kirloskar, Rekha Sethi, Harsh Vardhan Shringla
- 13 May 20264 of 4 present2 independent · no day in between
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 Jun 2026.
- Sharp & Tannan Associates, Chartered AccountantsPeer-review certificate valid to Apr 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.
Kirloskar Brothers 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.Kirloskar Brothers dividend history
Postal ballot, 15 Oct 2026
63,946 shareholders on the register on 11 Sep 2026; votes counted by Dinesh Birla / Dinesh Birla & Associates.
- Appointment of Dr. Madhuri Kanitkar (DIN: 11062719) as an Independent Director of the CompanySpecialNot passedRecorded as not passed although most votes were for it; no reason is given67.07% for32.93% against
Against: promoters 39.57% · institutions 0.00% · other public 16.72%
Turnout: all 75.70% · promoters 95.48% · institutions 75.16% · other public 0.49%
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, 31 Jul 2026, 6 resolutions
65,446 shareholders on the register on 24 Jul 2026; present: 7 promoters and 57 others; votes counted by Dinesh Birla / Dinesh Birla & Associates.
- To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026 and the Report of the Board of Directors and Auditors thereon.Ordinary66.98% for33.02% against
Against: promoters 39.57% · institutions 0.00% · other public 0.01%
Turnout: all 75.45% · promoters 95.47% · institutions 74.17% · other public 0.62%
- To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 and the Report of the Auditors thereon.Ordinary66.98% for33.02% against
Against: promoters 39.57% · institutions 0.00% · other public 0.01%
Turnout: all 75.45% · promoters 95.47% · institutions 74.17% · other public 0.62%
- To declare dividend on equity shares of the Company for the Financial Year ended March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 50.60% · promoters 57.69% · institutions 74.53% · other public 0.62%
- To appoint a Director in place of Ms. Rama Kirloskar (DIN: 07474724), who retires by rotation and being eligible, offers herself for re-appointment.Ordinary66.36% for33.64% against
Against: promoters 39.57% · institutions 3.89% · other public 0.14%
Turnout: all 75.52% · promoters 95.47% · institutions 74.53% · other public 0.62%
- To re-appoint Ms. Rama Kirloskar as the Joint Managing Director of the Company from August 03, 2026 to August 02, 2031 and to approve remuneration, payable to herOrdinary55.46% for44.54% against
Against: promoters 39.57% · institutions 70.04% · other public 0.03%
Turnout: all 75.52% · promoters 95.47% · institutions 74.53% · other public 0.62%
- To ratify remuneration payable to the Cost Auditors for the Financial Year 2026-27.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.13%
Turnout: all 75.52% · promoters 95.47% · institutions 74.53% · other public 0.62%
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, 6 Dec 2025, 1 resolution
67,828 shareholders on the register on 31 Oct 2025; votes counted by Dinesh Birla / Dinesh Birla & Associates.The company's voting result
- Appointment of Mr. Brij Bhushan Nagpal (DIN: 01853613) as an Independent Director of the Company.SpecialNot passedRecorded as not passed although most votes were for it; no reason is given67.62% for32.38% against
Against: promoters 38.23% · institutions 0.00% · other public 15.70%
Turnout: all 76.99% · promoters 98.81% · institutions 73.17% · other public 0.53%
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, 10 Sep 2025, 1 resolution
71,305 shareholders on the register on 8 Aug 2025; votes counted by Dinesh Birla / Dinesh Birla & Associates.The company's voting result
- Appointment of Mr. Harsh Vardhan Shringla (DIN: 11203013) as an Independent Director of the Company.SpecialNot passedRecorded as not passed although most votes were for it; no reason is given65.31% for34.69% against
Against: promoters 39.57% · institutions 8.06% · other public 1.66%
Turnout: all 74.48% · promoters 95.47% · institutions 72.14% · 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, 1 Aug 2025, 9 resolutions
69,218 shareholders on the register on 25 Jul 2025; present: 5 promoters and 38 others; votes counted by Dinesh Birla / Dinesh Birla & Associates.The company's voting result
- To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025 and the Report of the Board of Directors and Auditors thereon.Ordinary66.57% for33.43% against
Against: promoters 39.57% · institutions 0.00% · other public 0.10%
Turnout: all 74.53% · promoters 95.47% · institutions 72.28% · other public 0.46%
- To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 and the Report of the Auditors thereon.Ordinary66.57% for33.43% against
Against: promoters 39.57% · institutions 0.00% · other public 0.10%
Turnout: all 74.53% · promoters 95.47% · institutions 72.28% · other public 0.46%
- To declare dividend on equity shares of the Company for the Financial Year ended March 31, 2025.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 49.70% · promoters 57.69% · institutions 72.80% · other public 0.46%
- To appoint a Director in place of Mr. Alok Kirloskar (DIN 05324745), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary66.32% for33.68% against
Against: promoters 39.57% · institutions 1.83% · other public 0.14%
Turnout: all 74.61% · promoters 95.47% · institutions 72.77% · other public 0.46%
- To re-appoint Mr. Sanjay C. Kirloskar as the Managing Director of the Company from November 19, 2025 to March 21, 2027 and to approve remuneration, payable to him.Ordinary55.86% for44.14% against
Against: promoters 39.57% · institutions 69.32% · other public 0.13%
Turnout: all 74.61% · promoters 95.47% · institutions 72.77% · other public 0.46%
- To appoint Mr. Pradyumna Vyas, as an Independent Director of the Company.SpecialNot passedRecorded as not passed although most votes were for it; no reason is given66.61% for33.40% against
Against: promoters 39.57% · institutions 0.00% · other public 0.12%
Turnout: all 74.61% · promoters 95.47% · institutions 72.77% · other public 0.46%
- To appoint Mr. M.S. Unnikrishnan, as Non-Executive and Non-Independent Director of the Company, liable to retire by rotation.Ordinary66.02% for33.98% against
Against: promoters 39.57% · institutions 3.79% · other public 0.15%
Turnout: all 74.61% · promoters 95.47% · institutions 72.77% · other public 0.46%
- To appoint Messrs Dinesh Birla and Associates as Secretarial Auditors for a term of 5 consecutive years from the Financial Year 2025-26.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 74.61% · promoters 95.47% · institutions 72.76% · other public 0.46%
- To ratify remuneration payable to the Cost Auditors for the Financial Year 2025-26.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.37%
Turnout: all 74.61% · promoters 95.47% · institutions 72.77% · other public 0.46%
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, 5 resolutions
Present: 8 promoters and 32 others.
- To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024 and the Reports of the Board of Directors and Auditors thereonOrdinary67.23% for32.77% against
Against: promoters 38.23% · institutions 0.00% · other public 0.35%
Turnout: all 76.04% · promoters 98.83% · institutions 68.83% · other public 0.80%
- To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 and the Report of the Auditors thereonOrdinary67.23% for32.77% against
Against: promoters 38.23% · institutions 0.00% · other public 2.62%
Turnout: all 76.04% · promoters 98.83% · institutions 68.83% · other public 0.80%
- To declare dividend on equity shares of the Company for the Financial Year ended March 31, 2024Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.35%
Turnout: all 51.33% · promoters 61.05% · institutions 70.19% · other public 0.80%
- To appoint a Director in place of Ms. Rama Kirloskar (DIN 07474724),who retires by rotation and being eligible, offers herself for re-appointment.Ordinary67.32% for32.68% against
Against: promoters 38.23% · institutions 0.00% · other public 0.47%
Turnout: all 76.24% · promoters 98.83% · institutions 70.16% · other public 0.80%
- To ratify remuneration payable to the Cost Auditors for the Financial Year 2024-25.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.35%
Turnout: all 76.24% · promoters 98.83% · institutions 70.16% · other public 0.81%
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.
Postal ballot, 10 Sep 2023, 1 resolution
- Appointment of Mr. Vinayak Deshpande (DIN 00036827), as an Independent Director of the CompanySpecial66.66% for33.34% against
Against: promoters 38.23% · institutions 0.00% · other public 0.11%
Turnout: all 74.74% · promoters 98.82% · institutions 74.47% · other public 3.40%
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.
Annual general meeting, 1 Aug 2023, 4 resolutions
Present: 8 promoters and 39 others.
To receive, consider and adopt - a) Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the Reports of Auditors and Board of Directors thereon; and b) Audited Consolidated Financial Statements of the Company for the Financial Year ended on March 31, 2023, together with the Reports of the Auditors thereon.MoreLess
Ordinary66.17% for33.83% againstAgainst: promoters 38.23% · institutions 0.00% · other public 0.00%
Turnout: all 73.65% · promoters 98.82% · institutions 74.08% · other public 0.89%
- To declare Dividend on Equity Shares of the Company for the Financial Year 2022-23Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.10%
Turnout: all 48.85% · promoters 61.04% · institutions 75.08% · other public 0.89%
- To appoint a Director in place of Mr. Alok Kirloskar (DIN 05324745), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary66.22% for33.78% against
Against: promoters 38.23% · institutions 0.00% · other public 0.10%
Turnout: all 73.76% · promoters 98.82% · institutions 75.08% · other public 0.89%
- To ratify remuneration payable to M/s. Parkhi Limaye & Co., Cost Accountants for the Financial Year 2023-24Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.76% · promoters 98.82% · institutions 75.08% · other public 0.89%
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.
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 31 Jul 2026, 9 fund houses
- To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026 and the Report of the Board of Directors and Auditors thereon.9 for0 against
- To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 and the Report of the Auditors thereon.9 for0 against
- To declare dividend on equity shares of the Company for the Financial Year ended March 31, 2026.9 for0 against
- To appoint a Director in place of Ms. Rama Kirloskar (DIN: 07474724), who retires by rotation and being eligible, offers herself for re-appointment.9 for0 against
- To re-appoint Ms. Rama Kirloskar as the Joint Managing Director of the Company from August 03, 2026 to August 02, 2031 and to approve remuneration, payable to her
Against Angel One Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundTransparency Concern & Governance Concern : Non-disclosure of remuneration from Subsidiary & Joint Venture of the company, hence fairness of total remuneration to be paid from the Group cannot be ascertained. No absolute cap on variable pay or total remuneration & Board discretion to determine variable pay.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concerns identified w.r.t. merit, profile & time commitments of the proposed appointee. Transparency Concern & Governance Concern w.r.t. resolution #5: Non-disclosure of remuneration from Subsidiary & Joint Venture of the company, hence fairness of total remuneration to be paid from the Group cannot be ascertained. No absolute cap on variable pay or total remuneration & Board discretion to determine variable pay.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
5 for4 against - To ratify remuneration payable to the Cost Auditors for the Financial Year 2026-27.9 for0 against
Mutual fund votes, meeting of 6 Dec 2025, 20 fund houses
- Appointment of Mr. Brij Bhushan Nagpal (DIN: 01853613) as an Independent Director of the Company.20 for0 against
Mutual fund votes, meeting of 10 Sep 2025, 16 fund houses
1 proposal
- Appointment of Mr. Harsh Vardhan Shringla (DIN: 11203013) as an Independent Director of the Company.16 for0 against
Mutual fund votes, meeting of 1 Aug 2025, 16 fund houses
9 proposals
- To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025 and the Report of the Board of Directors and Auditors thereon.16 for0 against
- To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 and the Report of the Auditors thereon.16 for0 against
- To declare dividend on equity shares of the Company for the Financial Year ended March 31, 2025.16 for0 against
- To appoint a Director in place of Mr. Alok Kirloskar (DIN 05324745), who retires by rotation and being eligible, offers himself for re-appointment.16 for0 against
- To re-appoint Mr. Sanjay C. Kirloskar as the Managing Director of the Company from November 19, 2025 to March 21, 2027 and to approve remuneration, payable to him.
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund
- Angel One Mutual FundGovernance Concern: Holds combined position of Chairman and Managing Director may leads to concentration of power in the hands of single person; No absolute cap on variable pay or total remuneration & Nomination & Remuneration Committee discretion to determine variable payment.
- Axis Mutual FundSanjay Kirloskar, 68, is part of the promoter family and serves as the Chairperson and Managing Director of Kirloskar Brothers Limited. We raise concern over his membership of the Nomination and Remuneration Committee (NRC). We believe the NRC must only comprise Independent Directors to avoid any potential conflict of interest. His FY25 pay aggregated Rs. 99.0 mn. Based on the proposed terms, we estimate his annual pay at Rs. 147.5 mn, including commission. His commission will be determined by the Board/ NRC. The company should cap the commission in absolute terms and disclose the performance metrics that determine variable pay. While his pay is reasonable for his role and responsibilities, we raise concern that he is eligible for uncapped medical reimbursements for himself and his family. We believe these expenses are personal in nature and should be borne by the directors themselves. For medical coverage, the company may consider acquiring health insurance, rather than supporting the entire medical expenses at actuals. We do not support the resolution.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Holds combined position of Chairman and Managing Director may leads to concentration of power in the hands of single person; No absolute cap on variable pay or total remuneration & NRC discretion to determine variable payment.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundGovernance Concern: Holds combined position of Chairman and Managing Director may leads to concentration of power in the hands of single person; No absolute cap on variable pay or total remuneration & NRC discretion to determine variable payment.
- UTI Mutual FundSanjay Kirloskar, 68, is part of the promoter family and serves as the Chairperson and Managing Director of Kirloskar Brothers Limited. We raise concern over his membership of the Nomination and Remuneration Committee (NRC). We believe the NRC must only comprise Independent Directors to avoid any potential conflict of interest. His FY25 pay aggregated Rs. 99.0 mn. Based on the proposed terms, we estimate his annual pay at Rs. 147.5 mn, including commission. His commission will be determined by the Board/ NRC. The company should cap the commission in absolute terms and disclose the performance metrics that determine variable pay. While we support the reappointment, the overall compensation given to promoters is crossing our internal remuneration threshold. Hence we do not support the resolution.
6 for10 against - To appoint Mr. Pradyumna Vyas, as an Independent Director of the Company.16 for0 against
- To appoint Mr. M.S. Unnikrishnan, as Non-Executive and Non-Independent Director of the Company, liable to retire by rotation.16 for0 against
- To appoint Messrs Dinesh Birla and Associates as Secretarial Auditors for a term of 5 consecutive years from the Financial Year 2025-26.16 for0 against
- To ratify remuneration payable to the Cost Auditors for the Financial Year 2025-26.16 for0 against
Mutual fund votes, meeting of 2 Aug 2024, 9 fund houses
5 proposals
- To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024 and the Reports of the Board of Directors and Auditors thereon9 for0 against
- To consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 and the Report of the Auditors thereon9 for0 against
- To declare dividend on equity shares of the Company for the Financial Year ended March 31, 20249 for0 against
- To appoint a Director in place of Ms. Rama Kirloskar (DIN 07474724),who retires by rotation and being eligible, offers herself for re-appointment.9 for0 against
- To ratify remuneration payable to the Cost Auditors for the Financial Year 2024-25.9 for0 against
Mutual fund votes, meeting of 10 Sep 2023, 6 fund houses
1 proposal
- Appointment of Mr. Vinayak Deshpande (DIN 00036827), as an Independent Director of the Company6 for0 against
Mutual fund votes, meeting of 1 Aug 2023, 5 fund houses
4 proposals
To receive, consider and adopt - a) Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the Reports of Auditors and Board of Directors thereon; and b) Audited Consolidated Financial Statements of the Company for the Financial Year ended on March 31, 2023, together with the Reports of the Auditors thereon.MoreLess
5 for0 against- To declare Dividend on Equity Shares of the Company for the Financial Year 2022-235 for0 against
- To appoint a Director in place of Mr. Alok Kirloskar (DIN 05324745), who retires by rotation and being eligible, offers himself for re-appointment5 for0 against
- To ratify remuneration payable to M/s. Parkhi Limaye & Co., Cost Accountants for the Financial Year 2023-245 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Fines and tax disputes
Reported in the filing for the quarter to Sep 2026.
- Fine or penaltyNSE LimitedSince 25 Aug 2026₹87,320
The Company has received an email dated August 10, 2026, from NSE Limited (“NSE”), seeking clarification on observation of non-compliance with Regulation 19(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in relation to the composition of the Nomination and Remuneration Committee (“NRC”) as reported in the Corporate Governance Report for the quarter ended June 30, 2026. The Company responded on August 12, 2026, confirming that it had inadvertently interpreted the requirement of at least two-thirds of the members of the NRC being Independent Directors as requiring a minimum of three Independent Directors in a five-member Committee and appropriate corrective action would be undertaken to ensure compliance. Further, the Company had promptly initiated corrective measures by re-constitution NRC strictly as per Reg. 19 w.e.f. August 14, 2026. The Company submitted the response to NSE on August 14, 2026, stating that the non-compliance was inadvertent and without any mala fide intent and that corrective action had been initiated upon receipt of the observations from the Stock Exchange. In view of the above, NSE in its notice dated August 25, 2026 levied a penalty of Rs. 87,320/-. Accordingly, the penalty of Rs. 87,320/- was paid to NSE on September 01, 2026.
Non-compliance with Regulation 19(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, due to the Nomination and Remuneration Committee comprising three Independent Directors out of five members, representing 60% of the total membership, instead of the prescribed minimum of two-thirds of its members being Independent Directors, as reported in the Corporate Governance Report for the quarter ended June 30, 2026.MoreLess
- Fine or penaltyBSE LimitedSince 25 Aug 2026₹87,320
The Company has received an email dated August 11, 2026, from BSE Limited (“BSE”), seeking clarification on observation of non-compliance with Regulation 19(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in relation to the composition of the Nomination and Remuneration Committee (“NRC”) as reported in the Corporate Governance Report for the quarter ended June 30, 2026. The Company responded on August 12, 2026, confirming that it had inadvertently interpreted the requirement of at least two-thirds of the members of the NRC being Independent Directors as requiring a minimum of three Independent Directors in a five-member Committee and appropriate corrective action would be undertaken to ensure compliance. Further, the Company had promptly initiated corrective measures by re-constitution NRC strictly as per Reg. 19 w.e.f. August 14, 2026. The Company submitted the response to BSE on August 14, 2026, stating that the non-compliance was inadvertent and without any mala fide intent and that corrective action had been initiated upon receipt of the observations from the Stock Exchange. In view of the above, BSE in its notice dated August 25, 2026 levied a penalty of Rs. 87,320/-. Accordingly, the penalty of Rs. 87,320/- was paid to BSE on September 01, 2026.
Non-compliance with Regulation 19(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, due to the Nomination and Remuneration Committee comprising three Independent Directors out of five members, representing 60% of the total membership, instead of the prescribed minimum of two-thirds of its members being Independent Directors, as reported in the Corporate Governance Report for the quarter ended June 30, 2026.MoreLess
- Tax disputeOffice of Assistant Commissioner of State Tax, Dwarakanagar Circle, Vishakhapatnam, State Tax Department, Government of Andhra PradeshSince 12 Aug 2025
The Hon'ble High Court for State of Andhra Pradesh at Amaravati vide Order dated November 05, 2025, has extended interim stay granted earlier, till further orders and directed to post the matter after filing of counter-affidavit. The Respondent filed its Counter Affidavit on November 26, 2025 and the Company filed Rejoinder on April 10, 2026. case will be listed for Arguments before High CourtMoreLess
At the filing before: The Hon'ble High Court for State of Andhra Pradesh at Amaravati vide Order dated November 05, 2025, has extended interim stay granted earlier, till further orders and directed to post the matter after filing of counter-affidavitMoreLess
- Tax disputeCGST and Central Excise, Chennai North Commissionerate, ChennaiSince 22 Jan 2026An appeal pertaining to the demand raised for the relevant period has been filed along with the mandatory pre-deposit as applicable under the CGST Act
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
- 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
- Yes
- The filing has a part on fines and penalties
- Yes
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.