Zuari Agro Chemicals MD, chairman and AGM
NSE: ZUARIBSE: 534742Fertilizers & AgrochemicalsSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹191.27.
28 Oct: open ₹191.27, high ₹192.50, low ₹188.18
- Next results date: the board meets on 2 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹803 Cr1,486th 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
- 0.86
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹812 crore of one-off items, the largest of them in the quarter to Sep 2025.
- 6.31
- 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
- 0.38
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- 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.
- 47.6%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹812 crore of one-off items, the largest of them in the quarter to Sep 2025.
- 6.4%
- 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.
- 6.9%
- 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.
- 0.31
- 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
- 61,51245.7% delivered
Zuari Agro Chemicals' chairperson is Saroj Kumar Poddar and its managing director Nitin Manguesh Kantak, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 16 Sep 2026.
Zuari Agro Chemicals 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
- ChairpersonSaroj Kumar PoddarRelated to the promoter
- Managing directorNitin Manguesh Kantak
- Company Secretary and Compliance OfficerAsheeba Pereira
8 directors4 independent1 executive3 non-executive
- Saroj Kumar Poddar · ChairpersonNon-executive · joined May 2011 · 5 listed boards
- Nitin Manguesh Kantak · Managing directorExecutive · joined Sep 2020 · reappointed Sep 2023 · 1 listed board · 1 committee seat
- Akshay PoddarNon-executive · joined Nov 2011 · reappointed Dec 2014 · 6 listed boards · 2 committee seats, 1 as chair
- Dipankar ChatterjiIndependent · joined Feb 2020 · reappointed Feb 2023 · 79 months as independent · 3 listed boards · 3 as independent · 7 committee seats, 3 as chair
- Reena SuraiyaIndependent · joined Jun 2021 · reappointed Jun 2024 · 63 months as independent · 1 listed board · 1 as independent · 2 committee seats
- AmandeepIndependent · joined May 2022 · reappointed May 2025 · 52 months as independent · 1 listed board · 1 as independent · 3 committee seats, 2 as chair
- Sanjeev LallIndependent · joined Sep 2022 · reappointed Sep 2025 · 49 months as independent · 2 listed boards · 2 as independent · 1 committee seat
- Pramod Kumar GuptaNon-executive · joined Jun 2026 · 1 listed board · 2 committee seats, 1 as chair
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.
1 director who left
- ATHAR SHAHAB, left 2 Jun 2026: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 31 Jul 20266 of 8 present2 independent · 76 days in between
- 15 May 20267 of 8 present3 independent
Audit Committee
Chair Dipankar Chatterji
Reena Suraiya, Amandeep, Pramod Kumar Gupta
- 31 Jul 20263 of 3 present3 independent · 76 days in between
- 15 May 20263 of 4 present2 independent
Nomination and remuneration committee
Chair Dipankar Chatterji
Akshay Poddar, Amandeep
- 31 Jul 20262 of 3 present1 independent · 76 days in between
- 15 May 20262 of 3 present1 independent
Stakeholders Relationship Committee
Chair Pramod Kumar Gupta
Nitin Manguesh Kantak, Reena Suraiya
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Amandeep
Akshay Poddar, Nitin Manguesh Kantak
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.
- K.P.RAO & COPeer-review certificate valid to Apr 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.
Zuari Agro Chemicals 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.Zuari Agro Chemicals dividend history
Annual general meeting, 16 Sep 2026
43,267 shareholders on the register on 9 Sep 2026; present: 9 promoters and 48 others; votes counted by Shivaram Bhat / Shivaram Bhat.The company's voting result
To receive, consider and adopt the Audited Standalone Financial Statements and Audited Consolidated Financial Statements for the financial year ended 31st March 2026 and the reports of the Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 1.01%
Turnout: all 66.02% · promoters 100.00% · institutions 31.63% · other public 0.42%
- To re-appoint Mr. Saroj Kumar Poddar (DIN: 00008654), who retires by rotation and being eligible, offers himself for reappointmentOrdinary99.43% for0.57% against
Against: promoters 0.00% · institutions 52.02% · other public 16.60%
Turnout: all 66.02% · promoters 100.00% · institutions 31.63% · other public 0.42%
- To re-appoint Statutory Auditors and fix their remunerationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.22%
Turnout: all 66.02% · promoters 100.00% · institutions 31.63% · other public 0.42%
- To consider and approve Material Related Party Transactions of Zuari Farmhub Limited (Subsidiary Company) with Paradeep Phosphates LimitedOrdinaryPromoters have an interest in it99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.22%
Turnout: all 0.82% · promoters 0.00% · institutions 31.63% · other public 0.42%
- Continuation of Mr. Saroj Kumar Poddar (DIN: 00008654), as a Non-Executive, Non-Independent Director and Chairman of the CompanySpecial99.62% for0.38% against
Against: promoters 0.00% · institutions 33.36% · other public 16.44%
Turnout: all 66.02% · promoters 100.00% · institutions 31.63% · other public 0.42%
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, 23 Jul 2026, 2 resolutions
44,576 shareholders on the register on 19 Jun 2026; votes counted by SHIVARAM BHAT / SHIVARAM BHAT.The company's voting result
- Appointment of Mr. Nitin M Kantak (DIN: 08029847) as Managing Director of the Company and approval of remuneration payable to himSpecial98.77% for1.23% against
Against: promoters 0.00% · institutions 83.35% · other public 2.14%
Turnout: all 66.34% · promoters 100.00% · institutions 38.76% · other public 0.48%
- Appointment of Mr. Pramod Kumar Gupta (DIN:00064041) as a Non-Executive Non-Independent Director of the CompanyOrdinary99.75% for0.25% against
Against: promoters 0.00% · institutions 7.68% · other public 59.40%
Turnout: all 66.34% · promoters 100.00% · institutions 38.76% · other public 0.48%
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, 20 Mar 2026, 1 resolution
45,684 shareholders on the register on 13 Feb 2026; votes counted by SHIVARAM BHAT / SHIVARAM BHAT.The company's voting result
- Approval for Alteration of the object clause and adoption of amended Memorandum of AssociationSpecial99.84% for0.16% against
Against: promoters 0.00% · institutions 0.00% · other public 15.32%
Turnout: all 67.09% · promoters 100.00% · institutions 40.16% · other public 2.17%
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, 8 Jan 2026, 1 resolution
46,271 shareholders on the register on 28 Nov 2025; votes counted by SHIVARAM BHAT / SHIVARAM BHAT.The company's voting result
- Approval for payment of remuneration to Mr. Nitin M. Kantak (08029847), Executive Director in the category of Whole Time Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 9.08%
Turnout: all 66.11% · promoters 100.00% · institutions 31.73% · other public 0.13%
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, 23 Sep 2025, 7 resolutions
47,938 shareholders on the register on 16 Sep 2025; present: 9 promoters and 51 others; votes counted by Ms. Shubhangi Venkatesh Baichwal / Ms. Shubhangi Venkatesh Baichwal.The company's voting result
To receive, consider and adopt the Audited Standalone Financial Statements and Audited Consolidated Financial Statements for the financial year ended 31st March, 2025 and the reports of Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 66.27% · promoters 99.92% · institutions 26.26% · other public 0.76%
- To re-appoint Mr. Athar Shahab (DIN: 01824891), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary99.48% for0.52% against
Against: promoters 0.00% · institutions 39.76% · other public 0.22%
Turnout: all 66.27% · promoters 99.92% · institutions 26.26% · other public 0.76%
- To ratify the payment of Remuneration payable to M/s. S. S. Sonthalia & Co, Cost AuditorOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.19%
Turnout: all 66.27% · promoters 99.92% · institutions 26.26% · other public 0.76%
- To consider and approve appointment of Mr. Shivaram Bhat as Secretarial Auditor for a term of five consecutive financial years from 1st April, 2025 to 31st March, 2030.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.18%
Turnout: all 66.27% · promoters 99.92% · institutions 26.26% · other public 0.76%
- To consider and approve Enhancement in the Limits of investments/Loans and Guarantees under section 186 of the Companies Act, 2013.Special98.68% for1.32% against
Against: promoters 0.00% · institutions 100.00% · other public 0.29%
Turnout: all 66.27% · promoters 99.92% · institutions 26.26% · other public 0.76%
To consider and approve Slump sale of the Company’s granulated single super phosphate plant and certain associated business to Mangalore Chemicals & Fertilizers Limited under Section 188 of the Companies Act, 2013.MoreLess
OrdinaryPromoters have an interest in it99.02% for0.98% againstAgainst: promoters 0.00% · institutions 0.00% · other public 4.55%
Turnout: all 1.11% · promoters 0.00% · institutions 26.26% · other public 0.76%
To consider and approve Slump sale of the Company’s granulated single super phosphate plant and certain associated business to Mangalore Chemicals & Fertilizers Limited under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and business transfer agreement with Mangalore Chemicals and Fertilizers Limited.MoreLess
Special99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.00% · other public 4.55%
Turnout: all 66.27% · promoters 99.92% · institutions 26.26% · other public 0.76%
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 Jul 2025, 1 resolution
45,827 shareholders on the register on 20 Jun 2025; votes counted by SHIVARAM BHAT / SHIVARAM BHAT.The company's voting result
- Re-appointment of Mr. Sanjeev Lall (DIN: 08740906) as a Non-Executive and Independent Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 6.82%
Turnout: all 60.08% · promoters 91.54% · institutions 10.62% · other public 0.28%
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 Apr 2025, 1 resolution
47,323 shareholders on the register on 21 Mar 2025; votes counted by SHIVARAM BHAT / SHIVARAM BHAT.The company's voting result
- Re-appointment of Mr. Amandeep (DIN: 00226905) as a Non-Executive and Independent Director of the CompanySpecial99.94% for0.06% against
Against: promoters 0.00% · institutions 16.43% · other public 16.12%
Turnout: all 65.46% · promoters 100.00% · institutions 12.11% · other public 0.24%
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, 27 Sep 2024, 4 resolutions
Present: 9 promoters and 33 others.
To receive, consider and adopt the Audited Standalone Financial Statements and Audited Consolidated Financial Statements for the financial year ended 31st March, 2024 and the reports of Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 4.82%
Turnout: all 65.36% · promoters 99.89% · institutions 9.78% · other public 0.09%
- To re-appoint Mr. Akshay Poddar (DIN : 00008686) who retires by rotation and being eligible, offers himself for re-appointmentOrdinaryPromoters have an interest in it99.93% for0.07% against
Against: promoters 0.00% · institutions 33.23% · other public 6.88%
Turnout: all 64.88% · promoters 99.16% · institutions 9.78% · other public 0.09%
- To ratify the payment of Remuneration payable to Cost AuditorOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 7.12%
Turnout: all 65.36% · promoters 99.89% · institutions 9.78% · other public 0.09%
To approve the proposed transfer of 3,92,06,000 equity shares of Mangalore Chemicals & Fertilizers Limited held by the Company to Zuari Maroc Phosphates Private Limited, pursuant to and as an integral part of the draft Composite Scheme of Arrangement entered into by and amongst Mangalore Chemicals & Fertilizers Limited, Paradeep Phosphates Limited and their respective shareholders and creditors.MoreLess
OrdinaryPromoters have an interest in it83.17% for16.83% againstAgainst: promoters 0.00% · institutions 16.29% · other public 19.06%
Turnout: all 0.16% · promoters 0.00% · institutions 9.78% · other public 0.09%
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.
Fines and tax disputes
Reported in the filing for the quarter to Sep 2026.
- Fine or penaltyRegistrar of Companies, Goa, Ministry of Corporate AffairsSince 25 Aug 2026
Adjudication Order bearing Order ID PO/ADJ/08-2026/GA/02729, dated 24th August 2026, passed under Section 454 of the Companies Act, 2013. The Order imposes a penalty of Rs. 3,00,000 on the Company and Rs. 50,000 each on four of present and former KMPs.
The matter relates to the Directors Responsibility Statement forming part of the Board's Report for the financial year ended 31st March 2021, The order records an alleged non-compliance with Section 134(3)(c)of the Companies Act,2013 in respect of a compliance with specified Indian Accounting Standards, read with Section 129(1) of the Companies Act,2013.MoreLess
- Fine or penaltyDeputy Commissioner, State Tax, Lucknow, Utter PradeshSince 11 Sep 2026
Penalty U/S 76 of OF THE SGST ACT & CGST ACT
Demand of GST liability for the financial year 2018-19 for Generation of duplicate E-way bill. Total Alleged demand is as below: GST Amount - Rs 2,42,860 Interest amount as applicable at 18% p.a. Rs 3,45,562 penalty is Rs 2,42,860 The Company is currently reviewing the order in consultation with its legal and tax advisors for filing an appeal.MoreLess
- Fine or penaltyOFFICE OF THE SUPERINTENDENT, RANGE-VI DIVISION-II, CGST & CENTRAL EXCISE, RAIGAD COMMISSIONERATE,Since 11 Sep 2026
Demand for excess ITC claimed and levy of interest amount as applicable at 18% p.a. along with 10% Penalty on the said GST demand
Demand for GST liability for the Financial year 2022-23 and 2023-24 under:- - Rule 42 Reversal - Inadmissible ITC aviled on blocked credit - Wrongful availment of ITC not reflected in Table 8A of GSTR 9 Total Alleged demand is as below: GST Amount - Rs 2,84,342 Interest amount as applicable at 18% p.a. penalty is Rs 58,380 The Company is currently reviewing the order in consultation with its legal and tax advisors for filing an appeal.MoreLess
- Tax disputePr. Commissioner of Income Tax Panaji, Goa w.r.t. Zuari Farmhub Limited, a material subsidiary of the Company.Since 16 Jun 2023Adjourned the subject matter to 3rd November, 2026.
At the filing before: Pr. Commissioner of Income Tax Panaji, Goa filed an appeal before Hon'ble National Company Law Appellate Tribunal, Principal Bench appealing against the order dated 04.05.2023 passed by the Hon'ble National Company Law Tribunal, Mumbai Bench ("NCLT") in matter of Zuari Farmhub LimitedMoreLess
- Tax disputeAssessment order ( Faceless) Income tax Department AY 2022-23Since 28 Mar 2024
1. The Order Giving Effect (OGE) to the CIT(A) order was passed on July 28, 2026, granting partial relief to the Company. 2. Subsequently, on August 13, 2026, the Company filed a rectification application under Section 154 of the Income-tax Act, 1961, against the OGE. A favorable order was received on October 1, 2026. Consequently, the matter stands closed with no further outstanding liabilityMoreLess
At the filing before: Order u/s 250 dt 25.06.2026 passed allowing major relief. Disallowances of Interest paid under section 36(1)(iii)) Rs. 104.13 Crores is allowed, and deleted the addition on account of LTCG Rs. 163.59 Crores, while matters relating to re-computation of capital gain referred to JAO. OGE application filed with JAO on 07th July 26 to give effect to the order.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- 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.