You can view the shareholding pattern for the latest three quarters for the company
under two broad categories (Promoter & Non Promters).
Shareholding Pattern as on
31/12/2025
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| (A) Promoter & Promoter Group | 16 | 48,173,220 | 48,173,220 | 43.04 | 42.68 | 48,173,220 | | (B) Public | 68,035 | 63,753,580 | 63,753,580 | 56.96 | 57.32 | 63,563,580 | | (C1) Shares underlying DRs | 0 | 0 | 0 | 0.00 | 0.00 | 0 | | (C2) Shares held by Employee Trust | 0 | 0 | 0 | 0.00 | 0.00 | 0 | | (C) Non Promoter-Non Public | 0 | 0 | 0 | 0.00 | 0.00 | 0 |
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| Individuals / Hindu Undivided Family | 10 | 2,182,335 | 0 | 2,182,335 | 1.95 | 2,182,335 | | Kishor Laxminarayan Rathi HUF | 1 | 1,100,000 | 0 | 1,100,000 | 0.98 | 1,100,000 | | Madhusudan Kabra | 1 | 615,600 | 0 | 615,600 | 0.55 | 615,600 | | Kishor Laxminarayan Rathi | 1 | 406,000 | 0 | 406,000 | 0.36 | 406,000 | | Jayesh Madhusudan Soni | 1 | 10,000 | 0 | 10,000 | 0.01 | 10,000 | | Megha Jhawar | 1 | 8,000 | 0 | 8,000 | 0.01 | 8,000 | | Pratik Prakash Kokane | 1 | 10,000 | 0 | 10,000 | 0.01 | 10,000 | | Shruti Sharad Dhamdhere | 1 | 10,000 | 0 | 10,000 | 0.01 | 10,000 | | Snehal Shamsunder Soni | 1 | 15,000 | 0 | 15,000 | 0.01 | 15,000 | | Chandrakumar Laxminarayan Rathi | 0 | 0 | 0 | 0 | 0.00 | 0 | | Dhanyakumar Kishor Gadiya | 1 | 5,000 | 0 | 5,000 | 0.00 | 5,000 | | Payal Akshay Kulkarni | 0 | 0 | 0 | 0 | 0.00 | 0 | | Piyush Chandrakumar Rathi | 0 | 0 | 0 | 0 | 0.00 | 0 | | Pramila Shamsunder Soni | 0 | 0 | 0 | 0 | 0.00 | 0 | | Radhika Ashish Pujara | 0 | 0 | 0 | 0 | 0.00 | 0 | | Savita Chandrakumar Rathi | 0 | 0 | 0 | 0 | 0.00 | 0 | | Sunil Ramdayal Attal | 1 | 2,735 | 0 | 2,735 | 0.00 | 2,735 | | Any Other (specify) | 0 | 0 | 0 | 0 | 0.00 | 0 | | Advenza Global Limited | 0 | 0 | 0 | 0 | 0.00 | 0 | | Atharva Green Ecotech LLP | 0 | 0 | 0 | 0 | 0.00 | 0 | | Sub Total | 10 | 2,182,335 | 0 | 2,182,335 | 1.95 | 2,182,335 | |
| Any Others (Specify) | 1 | 7,500,000 | 0 | 7,500,000 | 6.70 | 7,500,000 | | Vasant and Prabha Rathi Generation Trust | 1 | 7,500,000 | 0 | 7,500,000 | 6.70 | 7,500,000 | | Individuals (Non-Resident Individuals/ Foreign Individuals) | 5 | 38,490,885 | 0 | 38,490,885 | 34.39 | 38,490,885 | | Vasant Rathi | 1 | 29,623,702 | 0 | 29,623,702 | 26.47 | 29,623,702 | | Rasika Vasant Rathi | 1 | 2,665,825 | 0 | 2,665,825 | 2.38 | 2,665,825 | | Rachana Vasant Rathi | 1 | 2,641,500 | 0 | 2,641,500 | 2.36 | 2,641,500 | | Reshma Namita Rathi | 1 | 2,646,858 | 0 | 2,646,858 | 2.36 | 2,646,858 | | Prabhavati Vasant Rathi | 1 | 913,000 | 0 | 913,000 | 0.82 | 913,000 | | Sub Total | 6 | 45,990,885 | 0 | 45,990,885 | 41.09 | 45,990,885 | | Grand Total | 16 | 48,173,220 | 0 | 48,173,220 | 43.04 | 48,173,220 | |
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| Mutual Funds | 9 | 2,417,455 | 0 | 2,417,455 | 2.16 | 2,417,455 | | Alternate Investment Funds | 5 | 3,745,999 | 0 | 3,745,999 | 3.35 | 3,745,999 | | Clarus Capital I | 1 | 2,960,891 | 0 | 2,960,891 | 2.65 | 2,960,891 | | NBFCs registered with RBI | 1 | 2,500 | 0 | 2,500 | 0.00 | 2,500 | | Foreign Portfolio Investors Category I | 67 | 13,488,754 | 0 | 13,488,754 | 12.05 | 13,488,754 | | Nalanda India Equity Fund Limited | 1 | 9,465,501 | 0 | 9,465,501 | 8.46 | 9,465,501 | | Marval Guru Fund | 1 | 2,000,000 | 0 | 2,000,000 | 1.79 | 2,000,000 | | Foreign Portfolio Investors Category II | 8 | 1,941,698 | 0 | 1,941,698 | 1.73 | 1,941,698 | | Polunin Emerging Markets Small Cap Fund, LLC | 1 | 1,545,857 | 0 | 1,545,857 | 1.38 | 1,545,857 | | Foreign Direct Investment | 1 | 13,509,522 | 0 | 13,509,522 | 12.07 | 13,509,522 | | Orbimed Asia III Mauritius FVCI Limited | 1 | 13,509,522 | 0 | 13,509,522 | 12.07 | 13,509,522 | | Sub Total | 91 | 35,105,928 | 0 | 35,105,928 | 31.36 | 35,105,928 | |
| Any Others (Specify) | 1,600 | 1,528,291 | 0 | 1,528,291 | 1.37 | 1,528,291 | | HUF | 1,524 | 674,491 | 0 | 674,491 | 0.60 | 674,491 | | Trusts | 3 | 552,717 | 0 | 552,717 | 0.49 | 552,717 | | LLP | 47 | 244,513 | 0 | 244,513 | 0.22 | 244,513 | | Clearing Members | 25 | 36,070 | 0 | 36,070 | 0.03 | 36,070 | | Unclaimed or Suspense or Escrow Account | 1 | 20,500 | 0 | 20,500 | 0.02 | 20,500 | | Bodies Corporate | 296 | 1,374,074 | 0 | 1,374,074 | 1.23 | 1,374,074 | | Resident Individuals holding nominal share capital up to Rs. 2 lakhs | 64,327 | 18,029,387 | 0 | 18,029,387 | 16.11 | 17,839,387 | | Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs | 6 | 1,494,674 | 0 | 1,494,674 | 1.34 | 1,494,674 | | Non Resident Indians (NRIs) | 1,698 | 3,579,295 | 0 | 3,579,295 | 3.20 | 3,579,295 | | Pradip Bhailal Shah | 1 | 1,875,400 | 0 | 1,875,400 | 1.68 | 1,875,400 | | Key Managerial Personnel | 2 | 175,775 | 0 | 175,775 | 0.16 | 175,775 | | Investor Education and Protection Fund (IEPF) | 1 | 128,984 | 0 | 128,984 | 0.12 | 128,984 | | Directors and their relatives (excluding independent directors and nominee directors) | 2 | 1,902,250 | 0 | 1,902,250 | 1.70 | 1,902,250 | | Mukund Madhusudan Kabra | 1 | 1,826,750 | 0 | 1,826,750 | 1.63 | 1,826,750 | | Foreign Nationals | 0 | 0 | 0 | 0 | 0.00 | 0 | | Relatives of promoters (other than 'immediate relatives' of promoters disclosed under 'Promoter and Promoter Group' category) | 12 | 434,922 | 0 | 434,922 | 0.39 | 434,922 | | Sub Total | 67,944 | 28,647,652 | 0 | 28,647,652 | 25.62 | 28,457,652 | |
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