Sanghvi Movers logo

Sanghvi Movers MD, chairman and AGM

NSE: SANGHVIMOVBSE: 530073Commercial Services & SuppliesSmall Cap

Sanghvi Movers Limited · Face value ₹1 · Listed May 1995 on BSE, Jan 2007 on NSE
Last close ₹347.60up ₹19.15 (5.83%)BSE ₹347.75

Share price at the NSE close on 28 Oct 2026. Previous close ₹328.45.

28 Oct: open ₹328.00, high ₹353.40, low ₹325.00

52-week range of traded prices to 28 Oct 2026
₹223.80Low, 16 Mar 2026₹528.00High, 10 Aug 2026
Market cap
₹3,009 Cr1,022nd largest listed
P/E
15.10
P/B
2.30
Dividend yield
0.58%
ROE
16.2%
ROCE
14.5%
Debt to equity
0.51
Volume, NSE
3,36,69543.6% delivered

Sanghvi Movers' chairperson is Deepak Ambadas Thombre and its managing director Rishi C. Sanghvi, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 24 Aug 2026.

Sanghvi Movers 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

  • Managing directorRishi C. Sanghvi
  • ChairpersonDeepak Ambadas Thombre
  • Company Secretary and Compliance OfficerVinav Agarwal

7 directors5 independent1 executive1 non-executive

  • Rishi C. Sanghvi · Managing directorExecutive · joined Dec 2018 · reappointed Jul 2024 · 1 listed board · 1 committee seat
  • Maithili Rishi SanghviNon-executive · joined May 2019 · reappointed Aug 2022 · 1 listed board
  • Madhu DubhashiIndependent · joined Aug 2019 · reappointed Jul 2024 · 85 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 3 as chair
  • Indraneel Govind ChitaleIndependent · joined Dec 2023 · reappointed Jan 2024 · 33 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Tushar Vinayak MehendaleIndependent · joined May 2024 · reappointed Jul 2024 · 28 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Deepak Ambadas Thombre · ChairpersonIndependent · joined Dec 2024 · 21 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 2 as chair
  • Ishwar Chand MangalIndependent · joined Mar 2025 · 18 months as independent · 1 listed board · 1 as independent

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

2 directors who left
  • Amitabha Mukhopadhyay, left 7 Sep 2026: Others
  • Madhukar Vinayak Kotwal, left 14 Nov 2024: Others

Committees and meetings

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

  • Board

    • 31 Jul 20267 of 8 present5 independent · 71 days in between
    • 20 May 20267 of 8 present5 independent

  • Audit Committee

    Chair Madhu Dubhashi

    Indraneel Govind Chitale, Tushar Vinayak Mehendale, Deepak Ambadas Thombre, Ishwar Chand Mangal

    • 31 Jul 20265 of 6 present5 independent · 71 days in between
    • 20 May 20265 of 6 present5 independent

  • Nomination and remuneration committee

    Chair Tushar Vinayak Mehendale

    Madhu Dubhashi, Indraneel Govind Chitale, Deepak Ambadas Thombre

    • 20 May 20265 of 5 present5 independent

  • Stakeholders Relationship Committee

    Chair Indraneel Govind Chitale

    Madhu Dubhashi, Rishi C. Sanghvi, Deepak Ambadas Thombre

    • 31 Jul 20264 of 4 present3 independent · 71 days in between

  • Risk Management Committee

    Chair Rishi C. Sanghvi

    Indraneel Govind Chitale, Tushar Vinayak Mehendale, Deepak Ambadas Thombre

    • 20 May 20265 of 5 present4 independent

  • Corporate Social Responsibility Committee

    Chair Maithili Rishi Sanghvi

    Tushar Vinayak Mehendale, Rishi C. Sanghvi, Indraneel Govind Chitale

    • 20 May 20264 of 4 present2 independent

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
2 earlier auditors
  • MSKA & AssociatesNamed in filings from Mar 2025 to Mar 2026
  • MSKA & Associates LLP (Formerly Known as MSKA & Associates)Named in the filing for the quarter to Dec 2025

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.

Sanghvi Movers 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.Sanghvi Movers dividend history

Annual general meeting, 24 Aug 2026

64,293 shareholders on the register on 14 Aug 2026; present: 8 promoters and 128 others; votes counted by Mr. Hrishikesh Wagh / Kanj & Co. LLP.The company's voting result

  1. 1 - To receive, consider and adopt the Audited Standalone and Consolidated financial statements of the Company for the Financial Year ended March 31, 2026 together with Report of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.10% · promoters 100.00% · institutions 31.43% · other public 17.70%

  2. 2 - To declare Final Dividend on equity shares for the Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.11% · promoters 100.00% · institutions 31.84% · other public 17.70%

  3. 3 - Appointment of M/s MSKA & Associates LLP as the Statutory Auditors of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.11% · promoters 100.00% · institutions 31.84% · other public 17.70%

  4. 4 - To appoint a Director in place of Mr. Rishi C. Sanghvi (DIN: 08220906), who retires by rotation and being eligible, offers himself for re- appointment.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.11% · promoters 100.00% · institutions 31.84% · other public 17.70%

  5. 5 - Alteration of Articles of Association of the Company.
    Special
    100.00% for0.00% against

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

    Turnout: all 57.11% · promoters 100.00% · institutions 31.84% · other public 17.70%

  6. 6 - Ratification of the remuneration paid to Managing Director for the year 2025-26
    SpecialPromoters have an interest in it
    97.25% for2.75% against

    Against: promoters 0.00% · institutions 65.45% · other public 0.01%

    Turnout: all 28.29% · promoters 39.01% · institutions 31.84% · other public 17.70%

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, 24 Sep 2025, 4 resolutions

67,478 shareholders on the register on 12 Sep 2025; present: 8 promoters and 98 others; votes counted by Mr. Hrishikesh Wagh / Kanj & Co. LLP.

  1. Adoption of Financial Statements
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.07%

    Turnout: all 57.66% · promoters 100.00% · institutions 38.22% · other public 18.63%

  2. Declaration of Dividend
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 57.66% · promoters 100.00% · institutions 38.41% · other public 18.63%

  3. Appointment/ Re-appointment of Director
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 57.66% · promoters 100.00% · institutions 38.41% · other public 18.63%

  4. Appointment of Secretarial Auditor
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.07%

    Turnout: all 57.66% · promoters 100.00% · institutions 38.41% · other public 18.63%

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, 28 Apr 2025, 7 resolutions

70,287 shareholders on the register on 21 Mar 2025; votes counted by Dipti Amit Thite / M/s Dipti Thite & Associates, Company Secretaries.The company's voting result

  1. To Consider and approve the proposal of creation of mortgage/charge on assets of the Company, under Section 180 (1) (a) of the Companies Act, 2013
    Special
    99.65% for0.35% against

    Against: promoters 0.00% · institutions 5.57% · other public 0.28%

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

  2. Enhancement in overall borrowing limits of the Company and creation of mortgage/charge on assets of the Company, under Section 180 (1) (c) of the Companies Act, 2013
    Special
    99.65% for0.35% against

    Against: promoters 0.00% · institutions 5.57% · other public 0.28%

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

  3. Enhancement in limits of Investments/Loans/Guarantees/Securities under Section 186 of the Companies Act, 2013
    Special
    98.67% for1.33% against

    Against: promoters 0.00% · institutions 22.87% · other public 0.28%

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

  4. Approval for material Related Party Transaction under Regulation 23 of SEBI (LODR) Regulation, 2015 between Sangreen Future Renewables Private Limited and the Company
    Ordinary
    99.97% for0.03% against

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

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

  5. Approval for material Related Party Transaction under Regulation 23 of SEBI (LODR) Regulation, 2015 between Samo Renewables Private Limited and the Company
    Ordinary
    99.97% for0.03% against

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

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

  6. Approval for material Related Party Transaction under Regulation 23 of SEBI (LODR) Regulation, 2015 between Sanghvi Movers Middle East Limited and the Company
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.64% · other public 0.27%

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

  7. Appointment of Mr. Ishwar Chand Mangal (DIN: 05003961) as an Independent Director of the Company for a term of five years
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.64% · other public 0.27%

    Turnout: all 57.33% · promoters 100.00% · institutions 58.15% · other public 14.46%

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.

Postal ballot, 13 Jan 2025, 2 resolutions

68,639 shareholders on the register on 6 Dec 2024; votes counted by Hrishikesh Wagh / KANJ & Co. LLP Company Secretaries.The company's voting result

  1. Appointment of Mr. Deepak Ambadas Thombre (DIN: 02421599) as an Independent Director of the Company for a term of five years
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 58.71% · promoters 100.00% · institutions 72.97% · other public 14.02%

  2. Appointment of Mr. Amitabha Mukhopadhyay (DIN: 01806781) as an Independent Director of the Company for a term of five years
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 58.71% · promoters 100.00% · institutions 72.97% · other public 14.02%

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, 3 Sep 2024, 5 resolutions

Present: 4 promoters and 36 others.

  1. To receive, consider and adopt the Audited Standalone financial statements of the Company for the Financial Year ended March 31, 2024, including audited Balance Sheet as at March 31, 2024 and the Statement of Profit and Loss for the year ended on that date and the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.36% · promoters 100.00% · institutions 73.39% · other public 20.58%

  2. To declare Final Dividend on equity shares for the Financial Year 2023-24.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.36% · promoters 100.00% · institutions 73.48% · other public 20.58%

  3. To appoint a Director in place of Mr. Rishi C. Sanghvi (DIN: 08220906), who retires by rotation and being eligible, offers himself for re-appointment and that on re-appointment there will not be any break in his service as Managing Director.MoreLess
    OrdinaryPromoters have an interest in it
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 2.57% · other public 0.01%

    Turnout: all 61.36% · promoters 100.00% · institutions 73.48% · other public 20.58%

  4. To approve Sub-Division of 1 (One) Equity Share of Rs. 2/- (Rs. Two Only) each into 2 (Two) Equity Shares of Rs. 1/- (Rs. One Only) each.
    Special
    100.00% for0.00% against

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

    Turnout: all 61.36% · promoters 100.00% · institutions 73.48% · other public 20.58%

  5. Alteration of Memorandum and Articles of Association of the Company.
    Ordinary
    98.50% for1.50% against

    Against: promoters 0.00% · institutions 20.36% · other public 0.01%

    Turnout: all 61.36% · promoters 100.00% · institutions 73.48% · other public 20.58%

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

Postal ballot, 19 Jul 2024, 4 resolutions
  1. Appointment of Mr. Tushar Mehendale (DIN: 01846705) as an Independent Director of the Company.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 61.31% · promoters 100.00% · institutions 85.24% · other public 19.75%

  2. Appointment of Mrs. Madhu P. Dubhashi (DIN: 00036846) for second term as an Independent Director ofnthe Company.
    Special
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 2.32% · other public 0.15%

    Turnout: all 61.31% · promoters 100.00% · institutions 85.24% · other public 19.75%

  3. Payment of remuneration to Mr. Rishi C. Sanghvi – Managing Director for Financial Year 2023-24.
    SpecialPromoters have an interest in it
    87.57% for12.43% against

    Against: promoters 0.00% · institutions 35.76% · other public 0.56%

    Turnout: all 14.06% · promoters 0.00% · institutions 85.24% · other public 19.75%

  4. Re-appointment of Mr. Rishi C. Sanghvi (DIN: 08220906) as Managing Director of the Company.
    SpecialPromoters have an interest in it
    88.31% for11.69% against

    Against: promoters 0.00% · institutions 34.37% · other public 0.15%

    Turnout: all 14.06% · promoters 0.00% · institutions 85.24% · other public 19.75%

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, 29 Jan 2024, 2 resolutions
  1. Appointment of Ms. Bhumika Batra (DIN:03502004) as an Independent Director of the Company for a term of 5 (five) years
    Special
    97.74% for2.26% against

    Against: promoters 0.00% · institutions 71.22% · other public 0.20%

    Turnout: all 54.82% · promoters 99.88% · institutions 46.52% · other public 12.03%

  2. Appointment of Mr. Indraneel Chitale (DIN:07720280) as an Independent Director of the Company for a term of 5 (five) years
    Special
    99.98% for0.02% against

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

    Turnout: all 54.82% · promoters 99.88% · institutions 46.52% · other public 12.04%

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, 22 Aug 2023, 7 resolutions

Present: 4 promoters and 45 others.

  1. Adoption of Standalone and Consolidated Financial Statements for year ended on 31 March 2023, including including audited Balance Sheet as at 31 March 2023 and the Statement of Profit and Loss for the year ended on that date and the Reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.86% · promoters 100.00% · institutions 82.60% · other public 25.98%

  2. Declaration of Final Dividend on equity shares for the Financial Year 2022-23
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.88% · promoters 100.00% · institutions 83.14% · other public 25.98%

  3. Re-appointment of Mr. Sham D. Kajale (DIN: 00786499), who retires by rotation
    Ordinary
    98.39% for1.61% against

    Against: promoters 0.00% · institutions 35.86% · other public 0.09%

    Turnout: all 62.88% · promoters 100.00% · institutions 83.14% · other public 25.98%

  4. Alteration of Capital clause of Memorandum of Association of the Company by increase in Authorised Capital
    Ordinary
    99.76% for0.24% against

    Against: promoters 0.00% · institutions 5.37% · other public 0.00%

    Turnout: all 62.88% · promoters 100.00% · institutions 83.14% · other public 25.98%

  5. Alteration of Object clause of Memorandum of Association of the Company
    Special
    100.00% for0.00% against

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

    Turnout: all 62.88% · promoters 100.00% · institutions 83.14% · other public 25.98%

  6. Payment of remuneration to Mr. Rishi C. Sanghvi – Managing Director
    SpecialPromoters have an interest in it
    93.74% for6.26% against

    Against: promoters 0.00% · institutions 34.95% · other public 0.00%

    Turnout: all 15.63% · promoters 0.00% · institutions 83.14% · other public 25.98%

  7. Payment of remuneration to Mr. Sham D. Kajale – Joint Managing Director & CFO
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 62.88% · promoters 100.00% · institutions 83.14% · other public 25.98%

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

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 24 Aug 2026, 2 fund houses

  • 1 - To receive, consider and adopt the Audited Standalone and Consolidated financial statements of the Company for the Financial Year ended March 31, 2026 together with Report of the Board of Directors and Auditors thereonMoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundUnqualified Financial Statements (except certain non-material remarks identified in CARO report). Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: Non-disclosure of financial statements of Subsidiary Companies on the website of the Company for FY 2025-26.
    1 for1 against
  • 2 - To declare Final Dividend on equity shares for the Financial Year 2025-26.
    2 for0 against
  • 3 - Appointment of M/s MSKA & Associates LLP as the Statutory Auditors of the Company
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNo concern on the merits of proposed auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Non-disclosure of Audit fee / remuneration payable to Statutory Auditors.
    1 for1 against
  • 4 - To appoint a Director in place of Mr. Rishi C. Sanghvi (DIN: 08220906), who retires by rotation and being eligible, offers himself for re- appointment.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Law. No concern on the merits of Director. Governance concern: Holds two full-time executive positions in the Company, which operate in unrelated lines of business.
    1 for1 against
  • 5 - Alteration of Articles of Association of the Company.
    2 for0 against
  • 6 - Ratification of the remuneration paid to Managing Director for the year 2025-26
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Law. No concern on the merits of Director. Governance concern: Holds two full-time executive positions in the Company, which operate in unrelated lines of business. Transparency concern: Inconsistencies/ Inadequate remuneration disclosures.
    1 for1 against

Mutual fund votes, meeting of 24 Sep 2025, 3 fund houses

  • Adoption of Financial Statements
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundUnqualified Financial Statements (except certain non-material remarks identified in CARO report). Non-Compliant with Companies Act, 2013 and SEBI LODR Regulations: Non-disclosure of financial statements of all Subsidiaries for FY 2024-25 on website.
    2 for1 against
  • Declaration of Dividend
    3 for0 against
  • Appointment/ Re-appointment of Director
    3 for0 against
  • Appointment of Secretarial Auditor
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNo concern on merit of proposed secretarial auditors. Non-Compliant with Regulation 36(5) of SEBI (LODR), 2015: Proposed audit fee payable to Secretarial Auditors not disclosed by the Company in the Notice.
    2 for1 against

Mutual fund votes, meeting of 28 Apr 2025, 8 fund houses

7 proposals

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Enhancement in limits of Investments/Loans/Guarantees/Securities under Section 186 of the Companies Act, 2013
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Quantum Mutual Fund
    • Angel One Mutual FundGovernance & Transparency Concern: Lack of adequate justifications & disclosure. Umbrella approval to cover any person/entity in the proposed limit.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with the law. Governance & Transparency Concern: Lack of adequate justifications & disclosure. Umbrella approval to cover any person/entity in the proposed limit.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Quantum Mutual FundAs on 31st March 2024, Sanghvi Movers Ltd.’s investments and loans to body corporates under Section 186 amounted to Rs. 0.7 bn. The approval granted under Section 186 of the Companies Act, 2013 allows the company to extend loans, guarantees, or securities to any company in which its directors have an interest, including promoter companies. The company must disclose granular details including names of these companies, the nature and size of their operations and terms of support, to enable shareholders to make an informed decision. Given the lack of clarity, we do not support the resolution.
    2 for6 against
  • Approval for material Related Party Transaction under Regulation 23 of SEBI (LODR) Regulation, 2015 between Sangreen Future Renewables Private Limited and the Company
    8 for0 against
  • Approval for material Related Party Transaction under Regulation 23 of SEBI (LODR) Regulation, 2015 between Samo Renewables Private Limited and the Company
    8 for0 against
  • Approval for material Related Party Transaction under Regulation 23 of SEBI (LODR) Regulation, 2015 between Sanghvi Movers Middle East Limited and the Company
    8 for0 against
  • Appointment of Mr. Ishwar Chand Mangal (DIN: 05003961) as an Independent Director of the Company for a term of five years
    8 for0 against
2 proposals not matched to one resolution
  • To borrow from time to time such sum or sums of money as they may deem fit by way of loans / debentures or any other mode of borrowing as may be deemed fit by the Board of Directors for the purpose of the business of the Company notwithstanding that the money(s) to be borrowed together with the money(s) already borrowed by the Company (apart from temporary loans obtained from the Company's Bankers in the ordinary course of business) shall exceed the aggregate of the paid- up capital of the Company and its free reserves, reserves not set apart for any specific purpose provided that the total amount together with the money(s) already borrowed by the Board of Directors from existing Rs. 1,000.00 Crores to Rs. 2,000.00 Crores at any time.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Quantum Mutual Fund
    • Angel One Mutual FundGovernance Concern: Majority of the Borrowing Limit is unutilized. Absence of specific reasons for the proposed increase. Transparency Concern: Ambiguity with respect to the proposed increase in limits; Lack of clarity if the same is an absolute increase or is it over and above the Paid-Up Capital.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with the law. Governance Concern: Majority of the Borrowing Limit is unutilized. Absence of specific reasons for the proposed increase. Transparency Concern: Ambiguity w.r.t. the proposed increase in limits; Lack of clarity if the same is an absolute increase or is it over and above the Paid-Up Capital.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Quantum Mutual FundThe company has existing borrowing limits of Rs. 10 bn which is proposed to be increased to Rs. 20 bn. As of September 2024, the company’s consolidated borrowings stood at 3.4 bn translating to 34% of the existing limits, which means close to 2/3rd of the borrowing limit remains unutilized. While we understand the company needs to do capex for the increasing order book, the same can be met from internal accruals. The capex for FY’25 stood at Rs. 3.6 bn which is well within the existing borrowing limit. The company has not provided adequate rationale for the increase in borrowing limit. Therefore, we do not favour the resolution.
    2 for6 against
  • To mortgage and/ or charge, in addition to the mortgages/ charges created/ to be created by the Company, in such form and manner and with such ranking and at such time and on such terms as the Board may determine, on all or any of the movable and/ or immovable properties of the Company, both present and future and/ or the whole or any part of the undertaking(s) of the Company together with the power to take over the management of the business and concern of the Company in certain events of default, in favour of the Lenders, Agents and Trustees for securing the borrowings of the Company availed/ to be availed by way of Loans (in foreign currency and/or rupee currency) and Securities (comprising Fully/ Partly convertible Debentures and/ or Non- convertible Debentures with or without detachable or non detachable Warrants and/ or Secured Premium Notes or other debt instruments), issued or to be issued by the Company, from time to time, subject to the limit up to Rs. 2,000.00 Crores.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Quantum Mutual Fund
    • Angel One Mutual FundGovernance Concern: Majority of the Borrowing Limit is unutilized. Absence of specific reasons for the proposed increase. Transparency Concern: Ambiguity with respect to the proposed increase in limits; Lack of clarity if the same is an absolute increase or is it over and above the Paid-Up Capital.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with the law. Governance Concern: Majority of the Borrowing Limit is unutilized. Absence of specific reasons for the proposed increase. Transparency Concern: Ambiguity w.r.t. the proposed increase in limits; Lack of clarity if the same is an absolute increase or is it over and above the Paid-Up Capital.
    • Quantum Mutual FundThe company has existing borrowing limits of Rs. 10 bn which is proposed to be increased to Rs. 20 bn. As of September 2024, the company’s consolidated borrowings stood at 3.4 bn translating to 34% of the existing limits, which means close to 2/3rd of the borrowing limit remains unutilized. While we understand the company needs to do capex for the increasing order book, the same can be met from internal accruals. The capex for FY’25 stood at Rs. 3.6 bn which is well within the existing borrowing limit. The company has not provided adequate rationale for the increase in borrowing limit. Therefore, we do not favour the resolution.
    3 for5 against

Mutual fund votes, meeting of 13 Jan 2025, 7 fund houses

2 proposals
  • Appointment of Mr. Deepak Ambadas Thombre (DIN: 02421599) as an Independent Director of the Company for a term of five years
    7 for0 against
  • Appointment of Mr. Amitabha Mukhopadhyay (DIN: 01806781) as an Independent Director of the Company for a term of five years
    7 for0 against

Mutual fund votes, meeting of 3 Sep 2024, 5 fund houses

5 proposals
  • To receive, consider and adopt the Audited Standalone financial statements of the Company for the Financial Year ended March 31, 2024, including audited Balance Sheet as at March 31, 2024 and the Statement of Profit and Loss for the year ended on that date and the Reports of the Board of Directors and Auditors thereon.MoreLess
    5 for0 against
  • To declare Final Dividend on equity shares for the Financial Year 2023-24.
    5 for0 against
  • To appoint a Director in place of Mr. Rishi C. Sanghvi (DIN: 08220906), who retires by rotation and being eligible, offers himself for re-appointment and that on re-appointment there will not be any break in his service as Managing Director.MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. No concern on profile of director. Governance concern: Holding combined position of Chairman & MD; Remuneration skewed in favor of Promoter Director.
    2 for3 against
  • To approve Sub-Division of 1 (One) Equity Share of Rs. 2/- (Rs. Two Only) each into 2 (Two) Equity Shares of Rs. 1/- (Rs. One Only) each.
    5 for0 against
  • Alteration of Memorandum and Articles of Association of the Company.
    5 for0 against

Mutual fund votes, meeting of 19 Jul 2024, 4 fund houses

4 proposals
  • Appointment of Mr. Tushar Mehendale (DIN: 01846705) as an Independent Director of the Company.
    4 for0 against
  • Appointment of Mrs. Madhu P. Dubhashi (DIN: 00036846) for second term as an Independent Director ofnthe Company.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundRe-appointment Compliant with Law. Governance & Transparency Concern: Inadequate disclosures regarding attendance performance.
    2 for2 against
  • Payment of remuneration to Mr. Rishi C. Sanghvi – Managing Director for Financial Year 2023-24.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on profile of director. Governance Concern: Lack of clarity regarding whether approval will be required for waiver of remuneration. Past remuneration skewed in favour of promoter director.
    2 for2 against
  • Re-appointment of Mr. Rishi C. Sanghvi (DIN: 08220906) as Managing Director of the Company.
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on profile of the director. Non-Compliant with SEBI LODR Regulations. Delayed approval of shareholders. Governance Concern: No absolute cap on variable pay. Past remuneration skewed in favour of the promoter director. Gap in the Board approval process.
    2 for2 against

Mutual fund votes, meeting of 29 Jan 2024, 2 fund houses

2 proposals
  • Appointment of Ms. Bhumika Batra (DIN:03502004) as an Independent Director of the Company for a term of 5 (five) years
    2 for0 against
  • Appointment of Mr. Indraneel Chitale (DIN:07720280) as an Independent Director of the Company for a term of 5 (five) years
    2 for0 against

Mutual fund votes, meeting of 22 Aug 2023, 2 fund houses

7 proposals
  • Adoption of Standalone and Consolidated Financial Statements for year ended on 31 March 2023, including including audited Balance Sheet as at 31 March 2023 and the Statement of Profit and Loss for the year ended on that date and the Reports of the Board of Directors and Auditors thereonMoreLess
    2 for0 against
  • Declaration of Final Dividend on equity shares for the Financial Year 2022-23
    2 for0 against
  • Re-appointment of Mr. Sham D. Kajale (DIN: 00786499), who retires by rotation
    2 for0 against
  • Alteration of Capital clause of Memorandum of Association of the Company by increase in Authorised Capital
    2 for0 against
  • Alteration of Object clause of Memorandum of Association of the Company
    2 for0 against
  • Payment of remuneration to Mr. Rishi C. Sanghvi – Managing Director
    2 for0 against
  • Payment of remuneration to Mr. Sham D. Kajale – Joint Managing Director & CFO
    2 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 penaltyDepartment of Transport GujaratSince 3 Jul 2026

    over dimensional consignment fine of Rs. 16,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport Madhya PradeshSince 5 Jul 2026

    over dimensional consignment fine of Rs. 5,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 3 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 8 Jul 2026

    over dimensional consignment fine of Rs. 10,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 14 Jul 2026

    over dimensional consignment fine of Rs. 10,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 14 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 14 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 14 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
36 more
  • Fine or penaltyDepartment of Transport GujaratSince 14 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 15 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport Madhya PradeshSince 16 Jul 2026

    over dimensional consignment fine of Rs. 10,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 27 Jul 2026

    over dimensional consignment fine of Rs. 10,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 28 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport Madhya PradeshSince 29 Jul 2026

    over dimensional consignment fine of Rs. 10,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 29 Jul 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 1 Aug 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport Tamil NaduSince 9 Aug 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport ChattisgarhSince 12 Aug 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyGovernement of OdishaSince 13 Aug 2026

    over dimensional consignment fine of Rs. 20,250/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 20 Aug 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 23 Aug 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport UttarakhadSince 4 Sep 2026

    over dimensional consignment fine of Rs. 500/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 7 Sep 2026

    over dimensional consignment fine of Rs. 30,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 10 Sep 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 11 Sep 2026

    over dimensional consignment fine of Rs. 30,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 14 Sep 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 15 Sep 2026

    over dimensional consignment fine of Rs. 30,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport GujaratSince 24 Sep 2026

    over dimensional consignment fine of Rs. 30,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyGovernement of OdishaSince 28 Sep 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyGovernement of OdishaSince 29 Sep 2026

    over dimensional consignment fine of Rs. 20,000/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Fine or penaltyDepartment of Transport UttarakhadSince 4 Sep 2026

    over dimensional consignment fine of Rs. 758/-

    The Company has received the challan towards fine and the same has been paid by the Company.
  • Tax disputeMaharashtra Sales Tax DepartmentSince 24 Nov 2016
    The Company had received a favorable order for FY 2008-09 and FY 2009-10, The Honorable Bombay High Court vide its order dated 04 December 2023 held that giving cranes on hire does not involve the transfer of the right to use the cranes, as the effective control and possession always remained with the Company. Hence, the Department's appeal stood dismissed. Basis the above favorable judgement for FY 2008-09 from High Court , refund Letter was submitted to Nodal officer on 03 Sep 2025. In case of assesment for FY 2010-11 final hearing is scheduled on 15th June 2026, other assessments from FY 2011-12 to FY 2017-18, awaiting for hearing from department before the first Appellate Authority. To best of our knowledge & information Maharashtra Sales department didn't file an appeal in next available forum & therefore it does not have any impact on financial performance of the company.MoreLess
    At the filing before: The Company had received notices of demand in respect of Order of Assessment of FY 2010-11, FY 2013-14, FY 2014-15, FY 2015-16, FY 2016-17 and FY 2017-18 towards VAT and CST liability treating hiring of cranes as transfer of right to use of cranes.MoreLess
  • Tax disputeSML. Vs. STO. Chichira Check Post and Others, RN. No. 1730 of 2012Since 1 Jan 2012
    Awaiting for hearing date.
    At the filing before: Matter pending before Tribunal for final adjdication on applicablity of VAT
  • Tax disputeSML Vs. Check Post Shamlaji, Memo No. 342 to 345 of 2014Since 10 Jan 2014
    Till date we have not received any notice from the authority for renewal of BGs. Also the status of this matter will not be chnaged until and unless we receive any notice from the said assessment authority. No change in prior status. "MoreLess
    At the filing before: Sales Tax Authorities at Gujarat considering us as Dealer and imposed liabllity for payment of GVAT. 1. SML crawler crane CKE 2500 (15) was moving into Gujrat state and was detained at Amirgadh check post and Shamalji check post of Commercial Tax dept.Gujrat and issued notice for furnish security because SML not registered under Gujrat VAT Act,2003. 2. SML issued BG No. 0896616BG0000162 dt 22-03-2016 of RS. 15,50,000/- in favour of The commissioner of commercial Tax, Commercial Tax Office, Ashram Road, Ahmedabad u/s. 28 of Gujrat VAT Act,2003 3. The said office directed to SML to furnish BG for getting certificate under Gujrat VAT Act, 2003. 4. The said BG has been issued/furnished under sec. 28 of Gujrat VAT Act, 2003. 5. The validity said BG was 19-03-2016 upto 18-03-2017. 6. Validity of the said BG has expired in 2017. 7. Till today SML has not received any notice of said office regarding extention of BG. 8. SML tried to call in commissioner of commercial Tax, Office but unable to connect as contact numbers are not reachable.MoreLess
  • Tax disputeSML Vs. Check Post Amirgadh, Memo No. 342 to 345 of 2014Since 10 Jan 2014
    Till date we have not received any notice from the authority for renewal of BGs. Also the status of this matter will not be chnaged until and unless we receive any notice from the said assessment authority. No change in prior status. "MoreLess
    At the filing before: Sales Tax Authorities at Gujarat considering us as Dealer and imposed liabllity for payment of GVAT. 1. SML crawler crane CKE 2500 (15) was moving into Gujrat state and was detained at Amirgadh check post and Shamalji chec1. SML Crawler Crane Model No LR 1400-1 sr. no. 74016 was moving from Begusarai, Bihar to Gujrat. 2. The said crane was moving into vehicle no. GJ 12 Y 9845 and RJ 01 GA 1956 was detained by Amirgad Check post of commercial dept of Gujrat. 3. The Commercial Tax dept directed to SML to make registration under Gujrat VAT Act, 2003 and passed the order to furnish security under sec. 28 of Gujrat VAT Act,2003. 4. SML challenged the order of said dept before the Commercial Tax dept. of Gujrat. 5. As per order of Tax dept. SML has submit Bank Guarantee bearing no. 0106151GFIN0005 of Dena Bank dt 20-02-2015 for Rs. 15,00,000/- ( which was expired on 19-02-2016). 6. SML received letter dt 25/02/2016 of checkpost of Tax dept. demanded to submit fresh Bank guarantee. 7. As per said notice SML submitted fresh Bank guarantee bearing no. 0896616BG0000125 dt. 03-05-2016 for Rs. 15,00,000/-,for the period of 6 month from 02-03-2016 to 01-09-2016. 8. The said bank guarantee also expired on 01-09-2016. 9. Thereafter, SML did not received any notice regarding the extension BG from Commercial Tax dept till today. 10. SML will contact to concern office/dept will get updade of said BG. 11. Tried to contact and called on phone number of said office but did not reached.MoreLess
  • Tax disputeThe Commercial tax Officer, Thoppur Check Post, Tamil NaduSince 16 Jul 2007
    Revision Petition no. 103/2009 is pending for final hearing before Addl Commissioner of Commercial Taxes, Chennai. The matter is case on 20-04-2022 for final hearing.
    At the filing before: 1. 16/07/2007 SML Vehicle bearing Rgd. No. GJ 16 V 6864, TN 20 P 8037 and TN 20 P 8035 was moving towards at Gulbarga, Karnataka loading counterparts of tyre crane intercepted and detained by the check post officer at Thoppur Checkpost and alleging that therehas been an evasion of tax under sec 4(1) of the TNVAT tax and without considering submissions of SML passed amounting/levied and collected a tax of Rs. 1,64,384/- and C fees of Rs. 3,28,770/- aggregating to Rs. 4,93,155/-. 2. SML filed Revision Petition no. 37/2007 aginst the order of check post officer, Thoppur before Joint Commissioner (CT) Salem Devision. 3. On 18-09-2008 Joint Commissioner (CT) passed the order Revision Petition partly allowed and partly dismissed ( The levy of tax of Rs. 1,64,385/- is sustained and the levy of compounding fee of Rs. 3, 28,770/- is set aside). 4. Aggrived by the said order SML filed Revision Petition no. 103/2009 before Additional Commissioner of Commercial Taxes, Chennai for cancellation of the levy of tax of Rs. 1, 64,385/- and refund of the tax of Rs. 1,64,385/-. 5. SML received the notice of the office of Addl Commissioner of Commercial Tax Chennai in March 2022 for appearance on 28-3-2022 for final hearing. 6. SML apeared through advocate and sought time for final hearing, the office of tax adjouned the case and kept the case on 20-4-2022 for final hearing.MoreLess
  • Tax disputeGST Department MaharashtraSince 30 Apr 2022
    As per the provisions of the Goods and Services Tax (GST) law, ITC can only be claimed to the extent reflected in GSTR-2A/8A. Therefore, the excess ITC claimed in GSTR-3B/9 is not eligible for set-off, leading to its disallowance in the assessment. An appeal was filed against the demand notice with the Maharashtra GST Department on 22nd July 2022. Company believes that they have a strong merit in the case & will ger favorable order.MoreLess
    At the filing before: Input Tax Credit (ITC) claimed in GSTR-3B/GSTR-9 for the financial year 2017-18 exceeds the amount confirmed in GSTR-2A or 8A of GSTR-9.
  • Tax disputeGST Department Andhra PradeshSince 13 Jan 2023
    An appeal was filed against the demand notice with the Andhra Pradesh GST Department on 24th February 2023 & hearing is yet to take place. Company believes that they have a strong merit in the case & will ger favorable order.MoreLess
    At the filing before: The Input Tax Credit (ITC) claimed on certain input purchases for the Financial Year 2018-19 has been disallowed. The Assessing Officer has pointed out a discrepancy in the turnover reported between GSTR-9 and GSTR-3B for the Financial Year 2018-19. The turnover reported in GSTR-9 does not match the turnover declared in GSTR-3B, resulting in an inconsistency that requires rectification.MoreLess
  • Tax disputeGST Department TamilnaduSince 31 Dec 2024
    An appeal was filed against the demand notice with the Tanilnadu GST Department on 12th March 2025 & hearing is yet to take place. Company believes that they have a strong merit in the case & will ger favorable order.MoreLess
    At the filing before: Unreconciled turnover reported in GSTR-9C and Difference in tax payment in reconciliation with GSTR-9 for the Financial Year 2020-21 has been Mismatch. The Assessing Officer has pointed out a discrepancy in the turnover reported between GSTR-9 and GSTR-3B for the Financial Year 2020-21. The turnover reported in GSTR-9 does not match the turnover declared in GSTR-3B, resulting in an inconsistency that requires rectification.MoreLess
  • Tax disputeGST Department TamilnaduSince 18 Feb 2024
    Awaiting for hearing date.
    At the filing before: E way Bill Generated with Incorrect Details. Paid penelty as per notice on time.
  • Tax disputeGST Department GujaratSince 30 Apr 2024
    Awaiting for hearing date.
    At the filing before: E way Bill Generated with Incorrect Details. Paid penelty as per notice on time.
  • Tax disputeGST Department TamilnaduSince 21 Apr 2024
    An appeal was filed agsinst penalty filed on 12th June-25 with TamilNadu GST Department. Pending for Hearing
    At the filing before: 1.Blocked Credit Section 17 Apportionment Of Credit and Blocked Credit Fy 2022-23 2.RCM on Indirect Expenses Incurred by the Taxable Person as Per Profit and Loss. 3.Outward Supply (Sales) Turnover Mismatch And Short Tax Paid as per GSTR-9 Vs GSTR-3B Return. 4.ITC To Be Reversed As Per Credit Note as per GSTR-2A. 5.Tax Liability as per Mismatch between GSTR-7 vs GSTR-3B.MoreLess
  • Tax disputeGST Department Utter PradeshSince 13 Nov 2025
    An appeal was filed on 29th Jan 2026 with Uttar Pradesh GST Department & hearing took place on 10th March 2026. Next hearing is scheduled on 16th April 2026.
    At the filing before: Tax Authority quitioned that the movement of crane and its components via Delivary challan is in nature of sale transaction i.e. outward supply should be treated and GST is to be paid on supply.
  • Tax disputeGST Department GujuratSince 13 Feb 2026
    Awaiting for hearing date.
    At the filing before: E way Bill Generated with Incorrect Details. Paid penelty as per notice on time.

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
11Dec 2400Mar 2500Jun 2511Sep 2511Dec 2500Mar 2600Jun 2600Sep 26

Open at the quarter's end

0Dec 240Mar 250Jun 250Sep 250Dec 250Mar 260Jun 260Sep 26
None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
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.