Kusumgar CEO, chairman and board of directors
NSE: KUSUMGARBSE: 544821Textiles & Apparels
Share price at the NSE close on 2 Nov 2026. Previous close ₹535.50.
2 Nov: open ₹527.00, high ₹555.35, low ₹527.00
- Next results date: the board meets on 5 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. Market capitalisation: how it is worked out
- ₹5,622 Cr
- 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
- No full year
- 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
- No balance sheet
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonesince listing in Jul 2026
- Volume, NSEVolume. Shares traded on the last trading day. Volume in the glossary
- 1,12,478
Kusumgar's chairperson and managing director is Siddharth Yogesh Kusumgar, its managing director Sapna Siddharth Kusumgar and its chief executive Ankur Kothari, as filed for the quarter to Sep 2026.
Kusumgar board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.
- Chairperson and managing directorSiddharth Yogesh KusumgarRelated to the promoter
- Managing directorSapna Siddharth Kusumgar
- Chief executiveAnkur Kothari
- Company Secretary and Compliance OfficerDevanand Mojidra
6 directors3 independent3 executive
- Siddharth Yogesh Kusumgar · Chairperson and managing directorExecutive · joined Aug 2000 · 1 listed board · 1 committee seat
- Sapna Siddharth Kusumgar · Managing directorExecutive · joined Apr 2022 · 1 listed board · 1 committee seat
- Ankur Kothari · Chief executiveExecutive · joined Sep 2020 · 1 listed board · 1 committee seat
- Kaushal Jaysingh SampatIndependent · joined Mar 2025 · reappointed Mar 2025 · 18 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
- Deepti GuptaIndependent · joined Mar 2025 · reappointed Mar 2025 · 18 months as independent · 2 listed boards · 2 as independent · 3 committee seats
- Nihar Ajay ParikhIndependent · joined Jun 2025 · reappointed Jun 2025 · 15 months as independent · 2 listed boards · 2 as independent · 2 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
- 11 Aug 20266 of 6 present3 independent · 28 days in between
- 13 Jul 20265 of 6 present3 independent · 2 days in between
- 10 Jul 20266 of 6 present3 independent · 7 days in between
- 2 Jul 20266 of 6 present3 independent · no day in between
4 earlier meetings
- 1 Jul 20266 of 6 present3 independent · 9 days in between
- 21 Jun 20265 of 6 present2 independent · 15 days in between
- 5 Jun 20266 of 6 present3 independent · 17 days in between
- 18 May 20266 of 6 present3 independent
Audit Committee
Chair Kaushal Jaysingh Sampat
Deepti Gupta, Ankur Kothari
- 11 Aug 20263 of 3 present2 independent · 40 days in between
- 1 Jul 20263 of 3 present2 independent · 25 days in between
- 5 Jun 20263 of 3 present2 independent · 17 days in between
- 18 May 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Deepti Gupta
Siddharth Yogesh Kusumgar, Kaushal Jaysingh Sampat, Nihar Ajay Parikh
- 11 Aug 20264 of 4 present3 independent · 84 days in between
- 18 May 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Kaushal Jaysingh Sampat
Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar
No meeting listed in the filing.
Risk Management Committee
Chair Nihar Ajay Parikh
Ankur Kothari, Kaushal Jaysingh Sampat
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Sapna Siddharth Kusumgar
Siddharth Yogesh Kusumgar, Deepti Gupta
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 Jun 2026.
- MSKA & Associates LLPPeer-review certificate valid to Jul 2027
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Kusumgar 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.
Postal ballot, 17 Sep 2026
34,377 shareholders on the register on 14 Aug 2026; votes counted by Vaibhav Dandawate / MAKARAND M. JOSHI & CO..
- To ratify the ESOP Scheme titled “Kusumgar ESOP 2024”Special89.73% for10.27% against
Against: promoters 0.00% · institutions 87.19% · other public 0.64%
Turnout: all 86.16% · promoters 99.99% · institutions 68.19% · other public 10.00%
To approve grant of stock options to the employees of the Group companies including Holding Company, Subsidiary companies and Associate companies, in India or outside India, of the Company under “Kusumgar ESOP 2024”MoreLess
Special89.73% for10.27% againstAgainst: promoters 0.00% · institutions 87.19% · other public 0.65%
Turnout: all 86.16% · promoters 99.99% · institutions 68.19% · other public 10.00%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
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 17 Sep 2026, 11 fund houses
- To ratify the ESOP Scheme titled “Kusumgar ESOP 2024”
Against Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, SBI Mutual Fund
- Axis Mutual FundThe ESOP 2024 scheme comprises 2,537,250 options, of which 2,187,782 options have already been granted. Upon exercise, the outstanding options would result in dilution of approximately 2.36% on the expanded capital base. While the scheme specifies a minimum vesting period of one year, key parameters such as the exercise price and detailed vesting conditions will be determined by the Committee and communicated through individual grant letters. In addition, the exercise period of up to ten years from vesting is relatively long compared to prevalent market practice. Greater clarity around these terms would have enabled shareholders to better assess the overall alignment and potential economic implications of the scheme. Accordingly, we do not support the resolution.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise price and Maximum options per employee, Vesting Period. Governance concern and transparency concern: Unfettered power to Compensation Committee w.r.t. exercise period, Unfair vesting condition.
- ICICI Prudential Mutual FundDue to inadequate disclosures w.r.t. exercise price or pricing formula for shares to be allotted under the ESOP plan, the AMC has voted against the resolution.
- Kotak Mahindra Mutual FundThe options pool comprises 2,537,250 options, of which 2,187,782 options have already been granted. The options when exercised would result in a dilution of ~2.36% on the expanded capital base. The minimum vesting period is one year, while the specific vesting schedule and conditions will be set out in the grant letter issued to employees. The exercise price is not specified, and it shall be such price, as determined by the committee from time to time. As per the Red Herring Prospectus, options granted prior to the IPO were issued at an exercise price of Re. 1.0, equivalent to the face value of the shares. Also, the maximum exercise period of ten years from the date of vesting appears long and is higher than general market practice. Given the lack of clarity on the exercise price and the maximum vesting period. Hence, we do not support the resolution.
- Mirae Asset Mutual FundIn line with the internal voting guidelines (Passive holding)
- SBI Mutual FundThe options pool comprises 2,537,250 options, of which 2,187,782 options have already been granted. The options when exercised would result in a dilution of ~2.36% on the expanded capital base. The minimum vesting period is one year, while the specific vesting schedule and conditions will be set out in the grant letter issued to employees. The exercise price is not specified, and it shall be such price, as determined by the committee from time to time. As per the Red Herring Prospectus, options granted prior to the IPO were issued at an exercise price of Re. 1.0, equivalent to the face value of the shares. Also, the maximum exercise period of ten years from the date of vesting appears long and is higher than general market practice. We do not favour ESOP schemes where the exercise price can be at a significant discount (greater than 20%) 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. Given the lack of clarity on the exercise price and the maximum vesting period, we do not support the scheme. Hence, we do not support the resolution.
2 for9 against To approve grant of stock options to the employees of the Group companies including Holding Company, Subsidiary companies and Associate companies, in India or outside India, of the Company under “Kusumgar ESOP 2024”MoreLess
Against Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, SBI Mutual Fund
- Axis Mutual FundThe company proposes to extend the benefits of ESOP 2024 to employees of its holding, subsidiary and associate companies. While extending stock-based incentive schemes across group entities is not uncommon, our view on this resolution is linked to our observations on Resolution No. 1. In the absence of greater clarity on the underlying scheme terms, we are unable to support the proposed extension.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual FundInter-linked with resolution #1. Governance Concern: Scheme extended to Holding Company and Associate Company without adequate justification and affirmation on cost reimbursement provision.
- ICICI Prudential Mutual FundDue to inadequate disclosures w.r.t. exercise price or pricing formula for shares to be allotted under the ESOP plan, the AMC has voted against the resolution.
- Kotak Mahindra Mutual FundThe company proposes to extend the Kusumgar ESOP 2024 (ESOP 2024) scheme to eligible employees of group companies including holding, subsidiary companies and associate companies. While we support extension ESOP schemes to unlisted subsidiaries, our view is linked to our view on resolution #1. We do not support the resolution.
- Mirae Asset Mutual FundIn line with the internal voting guidelines (Passive holding)
- SBI Mutual FundThe company proposes to extend the ‘Kusumgar ESOP 2024’ (ESOP 2024) scheme to eligible employees of group companies including holding, subsidiary companies and associate companies. While we support extension ESOP schemes to unlisted subsidiaries, our view is linked to our view on resolution #1. We do not support the resolution.
2 for9 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 Sep 2026.
- Tax disputeIncome Tax DepartmentSince 21 Mar 2026Pending
- Tax disputeIncome Tax DepartmentSince 21 Mar 2026Pending
- Tax disputeIncome Tax DepartmentSince 27 Jun 2017Pending
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
- No
- The chair is related to the managing director
- Yes
- 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.
How money raised was used
The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.