Mishra Dhatu Nigam MD, chairman and AGM
NSE: MIDHANIBSE: 541195Aerospace & DefenseSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹368.70.
28 Oct: open ₹371.70, high ₹378.60, low ₹366.85
- 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
- ₹6,974 Cr681st 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
- 51.67
- 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
- 4.55
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.56%
- 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.
- 9.2%
- 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.
- 9.5%
- 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 Mar 2026.
- 0.19
- 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
- 4,73,38929.7% delivered
Mishra Dhatu Nigam's chairperson and managing director is Dr. S. V. S. Narayana Murty, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 30 Sep 2026.
Mishra Dhatu Nigam 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 directorDr. S. V. S. Narayana Murty
- Company Secretary and Compliance OfficerPaul Anotny
6 directors2 independent3 executive1 non-executive
- Dr. S. V. S. Narayana Murty · Chairperson and managing directorExecutive · joined Apr 2025 · reappointed Apr 2025 · 1 listed board
- Madhubala KalluriExecutive · joined Jul 2025 · reappointed Jul 2025 · 1 listed board · 1 committee seat
- Padavittan BabuExecutive · joined Oct 2025 · reappointed Oct 2025 · 1 listed board · 1 committee seat
- Sameer MundraIndependent · joined Aug 2026 · reappointed Aug 2026 · 1 month as independent · 1 listed board · 1 as independent
- Pugazhendhy ArumugamIndependent · joined Aug 2026 · reappointed Aug 2026 · 1 month as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Meera MohantyNominee, non-executive · joined Sep 2026 · reappointed Sep 2026 · 2 listed boards
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.
10 directors who left
- Prakash Rajpurohit, left 17 Sep 2026: Others
- Amit Satija, left 4 Jun 2026: Others
- V. T. Rema, left 17 Apr 2026: Tenure Completion
- Aruna Sarap, left 17 Apr 2026: Tenure Completion
- Ajay Kumar Chauhan, left 17 Apr 2026: Tenure Completion
- Thulasiramanan Muthukumar, left 30 Jun 2025: Tenure Completion
- Gowri Sankara Rao Naramsetti, left 31 May 2025: Tenure Completion
- Dr. Sanjay Kumar Jha, left 31 Dec 2024: Tenure Completion
- Valluri Chakrapani, left 23 Dec 2024: Tenure Completion
- Shalabh Tyagi, left 10 Dec 2024: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 30 Sep 20265 of 6 present2 independent · 48 days in between
- 12 Aug 20264 of 4 present0 independent · 8 days in between
- 3 Aug 20264 of 4 present0 independent · 34 days in between
- 29 Jun 20264 of 4 present0 independent
Audit Committee
Chair Sameer Mundra
Pugazhendhy Arumugam, Padavittan Babu
No meeting listed in the filing.
Nomination and remuneration committee
Chair Sameer Mundra
Pugazhendhy Arumugam, Meera Mohanty
No meeting listed in the filing.
Stakeholders Relationship Committee
Chair Pugazhendhy Arumugam
Madhubala Kalluri, Padavittan Babu
No meeting listed in the filing.
Risk Management Committee
Chair Dr. S. V. S. Narayana Murty
Madhubala Kalluri, Padavittan Babu, Sameer Mundra
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Dr. S. V. S. Narayana Murty
Madhubala Kalluri, Padavittan Babu, Pugazhendhy Arumugam
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.
- ANJANEYULU & CO.Peer-review certificate valid to May 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.
Mishra Dhatu Nigam 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.Mishra Dhatu Nigam dividend history
Annual general meeting, 30 Sep 2026
1,59,943 shareholders on the register on 23 Sep 2026; present: 1 promoter and 62 others; votes counted by CS Navajyoth Puttaparthi / M/s Puttaparthi Jaggannatham & Co..The company's voting result
To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2026, the reports of the Board of Directors and Auditors thereon; and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2026 and report of the Auditors thereonMoreLess
Ordinary97.15% for2.85% againstAgainst: promoters 0.00% · institutions 31.75% · other public 2.22%
Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%
To confirm payment of interim dividend i.e. Re. 0.85 per equity share of Rs.10 each (i.e. @8.50%) and declare final dividend of Rs. 1.25 per equity Share of Rs. 10/- each (i.e. @12.50%) for the financial year ended on March 31, 2026MoreLess
Ordinary99.33% for0.67% againstAgainst: promoters 0.00% · institutions 7.49% · other public 1.87%
Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%
- To appoint a Director in place of Smt. Madhubala Kalluri (DIN: 11202794), who retires by rotation and being eligible, offers herself for re-appointment.Ordinary98.09% for1.91% against
Against: promoters 0.00% · institutions 21.25% · other public 3.15%
Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%
- Appointment of Shri Padavittan Babu (DIN: 11233808) as Director (Production and Marketing) of the CompanyOrdinary98.07% for1.93% against
Against: promoters 0.00% · institutions 21.52% · other public 2.98%
Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%
- Appointment of Shri Sameer Mundra (DIN: 00078727) as Independent Director of the CompanySpecial97.14% for2.86% against
Against: promoters 0.00% · institutions 32.54% · other public 3.00%
Turnout: all 81.21% · promoters 100.00% · institutions 76.31% · other public 0.43%
- Appointment of Shri Pugazhendhy Arumugam (DIN: 11912614) as Independent Director of the CompanySpecial96.17% for3.83% against
Against: promoters 0.00% · institutions 42.69% · other public 3.15%
Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%
- To ratify the remuneration to be paid to SS Zanwar and Associates, Cost Accountants, Cost Accountants as Cost Auditor of the Company for FY 2026-27Ordinary99.76% for0.24% against
Against: promoters 0.00% · institutions 2.69% · other public 3.13%
Turnout: all 81.37% · promoters 100.00% · institutions 77.99% · other public 0.43%
- Appointment of Ms. Meera Mohanty (DIN: 03379561) as Government Nominee Director of CompanyOrdinary96.15% for3.85% against
Against: promoters 0.00% · institutions 43.03% · other public 4.11%
Turnout: all 81.34% · promoters 100.00% · institutions 77.72% · other public 0.43%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 30 Sep 2025, 10 resolutions
1,65,879 shareholders on the register on 23 Sep 2025; present: 1 promoter and 70 others; votes counted by CS Navajyoth Puttaparthi / M/s Puttaparthi Jaggannatham & Co..The company's voting result
To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2025, the reports of the Board of Directors and Auditors thereon; and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and report of the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 2.59%
Turnout: all 82.60% · promoters 100.00% · institutions 83.63% · other public 0.20%
- To appoint a Director in place of Dr. S.V.S. Narayana Murty (DIN: 11065319), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.22% for0.78% against
Against: promoters 0.00% · institutions 7.53% · other public 3.43%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%
- Appointment of Dr. S.V.S. Narayana Murty (DIN:11065319) as Chairman & Managing Director of Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONSOrdinary99.23% for0.77% against
Against: promoters 0.00% · institutions 7.46% · other public 3.33%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%
- Appointment of Smt. Madhubala Kalluri (DIN: 11202794) as Director (Finance) of the Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONSOrdinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.15% · other public 2.98%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%
- Appointment of Shri Amit Satija (DIN: 08989543) as Government Nominee DirectorOrdinary98.16% for1.84% against
Against: promoters 0.00% · institutions 17.72% · other public 4.09%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%
- Re-appointment of Smt. V.T. Rema (DIN: 09561611) as Independent Director of the CompanySpecial94.56% for5.44% against
Against: promoters 0.00% · institutions 52.42% · other public 3.20%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.20%
- Appointment of Shri Ajay Kumar Chauhan (DIN: 09394953) as Independent Director of the CompanySpecial99.26% for0.74% against
Against: promoters 0.00% · institutions 7.14% · other public 3.34%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.20%
- Appointment of Ms. Aruna Sarap (DIN: 09583629) as Independent Director of the CompanySpecial99.27% for0.73% against
Against: promoters 0.00% · institutions 7.06% · other public 3.40%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%
- To appoint D. Hanumantha Raju & Co. – Company Secretaries as Secretarial Auditors of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 4.76%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.19%
- To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2025-26Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.86%
Turnout: all 82.60% · promoters 100.00% · institutions 83.66% · other public 0.20%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 30 Sep 2024, 5 resolutions
Present: 1 promoter and 52 others.
To receive, consider and adopt:na) the audited standalone financial statements of the Company for the financial year ended March 31, 2024, the reports of the Board of Directors and Auditors thereon; andnb) the audited consolidated financial statements of the Company for the financial year ended March 31, 2024 and report of the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 1.52%
Turnout: all 82.10% · promoters 100.00% · institutions 81.39% · other public 0.30%
- To appoint a Director in place of Shri Thulasiraman Muthukumar (DIN: 09636771), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary98.08% for1.92% against
Against: promoters 0.00% · institutions 19.51% · other public 3.81%
Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%
- Re-employment of Dr. Sanjay Kumar Jha (DIN:07533036) as Chairman & Managing Director of Company.nOrdinary99.15% for0.85% against
Against: promoters 0.00% · institutions 8.63% · other public 5.05%
Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%
- Appointment of Shri Shalabh Tyagi (DIN: 10042888) as Government Nominee Director.nOrdinary96.61% for3.39% against
Against: promoters 0.00% · institutions 34.55% · other public 3.67%
Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%
- To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2024-25.nOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 3.73%
Turnout: all 82.11% · promoters 100.00% · institutions 81.42% · other public 0.30%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 29 Sep 2023, 4 resolutions
Present: 1 promoter and 52 others.
To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023, the reports of the Board of Directors and Auditors thereon; and the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and reportnof the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 3.03%
Turnout: all 85.89% · promoters 100.00% · institutions 86.26% · other public 0.51%
To confirm payment of interim dividend i.e. Rs. 1.68 per equity share of Rs. 10 each (i.e. @16.80%) and declare final dividend of Rs. 1.67 per equity Share of Rs. 10/- each (i.e. @ 16.70%) for the financial year ended on March 31, 2023.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 3.04%
Turnout: all 85.91% · promoters 100.00% · institutions 86.38% · other public 0.51%
- To appoint a Director in place of Dr. Sanjay Kumar Jha (DIN:07533036), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary99.97% for0.03% against
Against: promoters 0.00% · institutions 0.21% · other public 5.93%
Turnout: all 85.91% · promoters 100.00% · institutions 86.38% · other public 0.50%
- To ratify remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2023-24Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 5.71%
Turnout: all 85.91% · promoters 100.00% · institutions 86.38% · other public 0.50%
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, 27 Jan 2023, 1 resolution
- Appointment of Shri Surendra Prasad Yadav (DIN: 02267582) as Government Nominee DirectorOrdinary95.95% for4.05% against
Against: promoters 0.00% · institutions 28.14% · other public 9.67%
Turnout: all 86.49% · promoters 100.00% · institutions 85.81% · other public 0.68%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 29 Sep 2022, 4 resolutions
Present: 1 promoter and 65 others.
To receive, consider and adopt: na) the audited standalone financial statements of the Company for the financial year ended March 31, 2022, the reports of the Board of Directors and Auditors thereon; andnnb) the audited consolidated financial statements of the Company for the financial year ended March 31, 2022 and report of the Auditors thereon.nMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.28%
Turnout: all 87.96% · promoters 100.00% · institutions 86.57% · other public 0.60%
To confirm payment of interim dividend i.e. Rs. 1.56/- per equity share of Rs. 10 each ( i.e. @15.60%) and to declare final dividend of Rs. 1.54/- per Equity Share of Rs. 10/- each (i.e. @ 15.40%) for the financial year ended on March 31, 2022MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.98%
Turnout: all 87.97% · promoters 100.00% · institutions 86.65% · other public 0.60%
- To appoint a Director in place of Shri Gowri Sankara Rao Naramsetti (DIN: 08925899), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary99.61% for0.39% against
Against: promoters 0.00% · institutions 2.44% · other public 2.01%
Turnout: all 87.97% · promoters 100.00% · institutions 86.65% · other public 0.60%
- To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2022-23Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 1.78%
Turnout: all 87.97% · promoters 100.00% · institutions 86.65% · other public 0.60%
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, 3 Aug 2022, 1 resolution
- Appointment of Shri Thulasiraman Muthukumar (T. Muthukumar) (DIN:n09636771) as Director (Production & Marketing)nOrdinary99.54% for0.46% against
Against: promoters 0.00% · institutions 2.85% · other public 15.16%
Turnout: all 87.68% · promoters 100.00% · institutions 89.74% · other public 1.21%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 30 Jun 2022, 1 resolution
- Appointment of Smt. Vallikkat Thanayankizhil Rema (V.T. Rema) (DIN: 09561611) as annIndependent DirectorSpecial95.48% for4.52% against
Against: promoters 0.00% · institutions 30.27% · other public 7.45%
Turnout: all 87.10% · promoters 100.00% · institutions 86.19% · other public 1.14%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 30 Sep 2026, 8 fund houses
To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2026, the reports of the Board of Directors and Auditors thereon; and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2026 and report of the Auditors thereonMoreLess
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
- Axis Mutual FundWe have relied upon the auditors' report, which has raised an emphasis of matter stating that the other non-current assets, trade receivables, other current financial assets, other current assets, other non-current liabilities, trade payables, other current financial liabilities and other current liabilities of the standalone and consolidated financial statements are subject to receipt of confirmation of balances/reconciliation, which post confirmation may have an impact on the financials of the company. The auditor's opinion is not modified in this regard. Based on the auditors' report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (IND-AS). We raise concern that the company has not constituted an audit committee in line with regulations and did not have sufficient independent directors on the board when the accounts were finalized. We do not support the resolution.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified financial statements (except certain non-material remarks in CARO report). Governance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for6 againstTo confirm payment of interim dividend i.e. Re. 0.85 per equity share of Rs.10 each (i.e. @8.50%) and declare final dividend of Rs. 1.25 per equity Share of Rs. 10/- each (i.e. @12.50%) for the financial year ended on March 31, 2026MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Sufficient funds available for payment of final dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
4 for4 against- To appoint a Director in place of Smt. Madhubala Kalluri (DIN: 11202794), who retires by rotation and being eligible, offers herself for re-appointment.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman Independent Director.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman ID.
4 for4 against - Appointment of Shri Padavittan Babu (DIN: 11233808) as Director (Production and Marketing) of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman Independent Director.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman ID.
4 for4 against - Appointment of Shri Sameer Mundra (DIN: 00078727) as Independent Director of the Company
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Term of appointment is ambiguous and against spirit of the law.
- Axis Mutual FundSameer Mundra, 51, is proprietor of Hytech Engineers and Precision Engineering. He is Director of MP JFC Industries Private Limited and LUB E-Mart Advanced Platform Foundation. He holds B.E. in Production Engineering from NIT Surat.Public sources indicate that he has political affiliations, which we believe may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as a part of his profile. We do not support the resolution.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Term of appointment is ambiguous and against spirit of the law.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding).
2 for6 against - Appointment of Shri Pugazhendhy Arumugam (DIN: 11912614) as Independent Director of the Company
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundAppointment of Shri Pugazhendhy Arumugam (DIN: 11912614) as an Independent Director of MIDHANI with effect from August 25, 2026, up to August 24, 2029, or until further orders of the Ministry of Defence, whichever is earlier.
- Axis Mutual FundPugazhendhy Arumugam, 57, is engaged in agriculture, with a particular focus on organic farming and horticulture. He has legal experience with exposure to matters relating to property, banking and labour laws, including assisting in providing legal advice and dealing with related legal matters. He has done M. Sc. and LL.B. Public sources indicate that he has political affiliations, which we believe may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as a part of his profile. We do not support the resolution.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Term of appointment is ambiguous and against spirit of the law.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for6 against - To ratify the remuneration to be paid to SS Zanwar and Associates, Cost Accountants, Cost Accountants as Cost Auditor of the Company for FY 2026-278 for0 against
- Appointment of Ms. Meera Mohanty (DIN: 03379561) as Government Nominee Director of Company
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundThe Company has not provided notice prior to 21 days. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman Independent Director.
- Axis Mutual FundMs. Meera Mohanty, 49, is an Indian Administrative Service (IAS) officer of the Himachal Pradesh cadre, belonging to the 2005 batch. At present, she is Joint Secretary (P&C), Ministry of Defence, Department of Defence Production. Prior to her present assignment, she was Joint Secretary in the Prime Minister’s Office (PMO). While she is not liable to retire by rotation, we draw comfort from the SEBI LODR amendments which have built in sufficient guardrails and will need the company to seek periodic reappointment for his nomination after a five-year interval. We expect the Government of India to first address the board composition, before appointing its nominees to the board. We do not support the resolution.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed appointee. Non-Compliant with Companies act and SS- 2 Secretarial standard on general meeting: The Company has not provided notice prior to 21 days. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors & Woman ID.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for6 against
Mutual fund votes, meeting of 30 Sep 2025, 8 fund houses
To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2025, the reports of the Board of Directors and Auditors thereon; and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and report of the Auditors thereon.MoreLess
8 for0 against- To appoint a Director in place of Dr. S.V.S. Narayana Murty (DIN: 11065319), who retires by rotation and being eligible, offers himself for re-appointment.
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
5 for3 against - Appointment of Dr. S.V.S. Narayana Murty (DIN:11065319) as Chairman & Managing Director of Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing director; Delayed shareholder’s approval.
5 for3 against - Appointment of Smt. Madhubala Kalluri (DIN: 11202794) as Director (Finance) of the Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS8 for0 against
- Appointment of Shri Amit Satija (DIN: 08989543) as Government Nominee Director
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: Delayed shareholder’s approval.
- Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Delayed shareholder’s approval.
5 for3 against - Re-appointment of Smt. V.T. Rema (DIN: 09561611) as Independent Director of the Company
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorship, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval;Term of appointment is ambiguous.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of Director. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorship, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorship, no consecutive terms between the two appointments; Delayed Shareholders’ approval
2 for6 against - Appointment of Shri Ajay Kumar Chauhan (DIN: 09394953) as Independent Director of the Company
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous; Appointment for a period of 1 year only.
- Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of Directors. Governance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law; Appointment for a period of 1 year only.
5 for3 against - Appointment of Ms. Aruna Sarap (DIN: 09583629) as Independent Director of the Company
Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous; Appointment for a period of 1 year only.
- Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of Directors. Governance concern: Delayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law; Appointment for a period of 1 year only.
5 for3 against - To appoint D. Hanumantha Raju & Co. – Company Secretaries as Secretarial Auditors of the Company8 for0 against
- To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2025-268 for0 against
Mutual fund votes, meeting of 30 Sep 2024, 8 fund houses
5 proposals
To receive, consider and adopt:na) the audited standalone financial statements of the Company for the financial year ended March 31, 2024, the reports of the Board of Directors and Auditors thereon; andnb) the audited consolidated financial statements of the Company for the financial year ended March 31, 2024 and report of the Auditors thereon.MoreLess
8 for0 against- To appoint a Director in place of Shri Thulasiraman Muthukumar (DIN: 09636771), who retires by rotation and being eligible, offers himself for re-appointment.
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment is compliant with law. No concern on the merit of proposed appointee. Governance Concern: Board is non-compliant with requisite number of IDs, therefore, concern raised against appointment of NID.
5 for3 against - Re-employment of Dr. Sanjay Kumar Jha (DIN:07533036) as Chairman & Managing Director of Company.n
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundRe-appointment is compliant with law. No concern on the merit of proposed appointee. Governance Concern: Combined position as Chairman & Managing Director. Board is non-compliant with requisite number of IDs, therefore, concern raised against appointment of NID.
5 for3 against - Appointment of Shri Shalabh Tyagi (DIN: 10042888) as Government Nominee Director.n
Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundAppointment compliant with law. No concern on the merits of the proposed appointee. Governance Concern: Delayed shareholders’ approval. Board is non-compliant with requisite number of IDs, therefore, concern raised against appointment of NID.
4 for4 against - To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2024-25.n8 for0 against
Mutual fund votes, meeting of 29 Sep 2023, 7 fund houses
8 proposals
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023, the reports of the Board of Directors and Auditors thereon; and the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and reportnof the Auditors thereon.MoreLess
6 for0 againstTo confirm payment of interim dividend i.e. Rs. 1.68 per equity share of Rs. 10 each (i.e. @16.80%) and declare final dividend of Rs. 1.67 per equity Share of Rs. 10/- each (i.e. @ 16.70%) for the financial year ended on March 31, 2023.MoreLess
6 for0 against- To appoint a Director in place of Dr. Sanjay Kumar Jha (DIN:07533036), who retires by rotation and being eligible, offers himself for re-appointment.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Non-Compliant Board and Holding dual position of Chairman & MD.
5 for1 against - To ratify remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2023-246 for0 against
4 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 2, as a fund house numbered it1 for0 against
- Item 3, as a fund house numbered it1 for0 against
- Item 4, as a fund house numbered it1 for0 against
Mutual fund votes, meeting of 27 Jan 2023, 5 fund houses
1 proposal
- Appointment of Shri Surendra Prasad Yadav (DIN: 02267582) as Government Nominee Director
Against Invesco Mutual Fund, Nippon India Mutual Fund, Taurus Mutual Fund
- Invesco Mutual FundSurendra Prasad Yadav, 54, is currently the Joint Secretary (Land Systems), Department of Defence, Ministry of Defence, Government of India. He is M. Tech, Indian Forest Service (IFoS) of West Bengal cadre. He has been appointed as a Nominee Director of Government of India from 10 November 2022. Although his appointment is in line with statutory requirements, we are unable to support the resolution as the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominee on the board. He is not liable to retire by rotation, which given his non-executive role, creates board permanency. We believe shareholders must get a chance to periodically vote on director (re)appointments
- Nippon India Mutual FundHalf of the board of directors are not Independent
- Taurus Mutual FundSurendra Prasad Yadav, 54, is currently the Joint Secretary (Land Systems), Department of Defence, Ministry of Defence, Government of India. He is M. Tech, Indian Forest Service (IFoS) of West Bengal cadre. He has been appointed as a Nominee Director of Government of India from 10 November 2022. Although his appointment is in line with statutory requirements, we are unable to support the resolution as the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominee on the board. He is not liable to retire by rotation, which given his non-executive role, creates board permanency. We believe shareholders must get a chance to periodically vote on director (re)appointments.
2 for3 against
Mutual fund votes, meeting of 29 Sep 2022, 4 fund houses
4 proposals
To receive, consider and adopt: na) the audited standalone financial statements of the Company for the financial year ended March 31, 2022, the reports of the Board of Directors and Auditors thereon; andnnb) the audited consolidated financial statements of the Company for the financial year ended March 31, 2022 and report of the Auditors thereon.nMoreLess
4 for0 againstTo confirm payment of interim dividend i.e. Rs. 1.56/- per equity share of Rs. 10 each ( i.e. @15.60%) and to declare final dividend of Rs. 1.54/- per Equity Share of Rs. 10/- each (i.e. @ 15.40%) for the financial year ended on March 31, 2022MoreLess
4 for0 against- To appoint a Director in place of Shri Gowri Sankara Rao Naramsetti (DIN: 08925899), who retires by rotation and being eligible, offers himself for re-appointment4 for0 against
- To ratify the remuneration to be paid to BVR & Associates, Cost Accountants as Cost Auditor of the Company for FY 2022-234 for0 against
Mutual fund votes, meeting of 3 Aug 2022, 4 fund houses
1 proposal
- Appointment of Shri Thulasiraman Muthukumar (T. Muthukumar) (DIN:n09636771) as Director (Production & Marketing)n4 for0 against
Mutual fund votes, meeting of 30 Jun 2022, 4 fund houses
1 proposal
- Appointment of Smt. Vallikkat Thanayankizhil Rema (V.T. Rema) (DIN: 09561611) as annIndependent Director
Against Invesco Mutual Fund, Nippon India Mutual Fund
- Invesco Mutual FundMs. V.T. Rema, 64, is Retired Vice Principal of Government College, Pattambi, Kerala. She has completed her M.A. in English and Master’s in Philosophy from Calicut University, Kerala. She has worked with Government College Kerala from 1984 to 2014 as an Associate Professor before retiring as Vice Principal. As per the company’s website, she is State Vice President for Bhartiya Janata Party, Kerala. We do not support her appointment as an Independent Director as we believe her political affiliation may unnecessarily politicize the decisions of the company and distract the management from its core focus.
- Nippon India Mutual FundTerm of appointment is ambiguous
2 for2 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
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
- No
- 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
- 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.