Hatsun Agro Product Limited announced key board decisions following its meeting held on April 10, 2026, including the appointment of a new independent director and approval of postal ballot procedures. The Chennai-based dairy and food products company made these announcements in compliance with SEBI listing regulations pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approves New Independent Director Appointment

The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Rajprabu Harshan as an Additional Director under the Non-Executive Independent Director category. The appointment details are structured as follows:

Director Profile and Background

Mr. Rajprabu Harshan brings significant business experience to the board, having pursued Business Administration in Madurai. His professional background includes expertise in operational strategy and organizational growth, with particular contributions to business performance improvement and warehousing and logistics operations. Currently, he holds a board position at Startex Knitwears Private Limited and serves as Managing Partner of Rice Land and MKAC Jayaraj Nadar & Sons, Madurai. The company confirmed that Mr. Harshan is not related to any other directors and is not debarred from holding directorial positions pursuant to any SEBI Order or order of any such authority.

Postal Ballot Process and Compliance Framework

The board approved several procedural matters related to seeking shareholder approval for the appointment:

Meeting Details and Regulatory Compliance

The board meeting commenced at 12:30 PM and concluded at 1:00 PM on April 10, 2026. All decisions were made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The company provided comprehensive disclosure details including the director's profile, relationship disclosures, and debarment status as required under the listing regulations.

The appointment strengthens Hatsun Agro Product Limited's board composition with additional independent oversight, pending shareholder approval through the postal ballot process. The company operates across multiple dairy and food product segments through various brand portfolios including Arun Ice Creams, Arokya, Ibaco, Aniva, HAP Daily, Hanobar Chocolates, Havia Chocolates, and Santosa.

Hatsun Agro Product Limited has successfully completed its amalgamation with Milk Mantra Dairy Private Limited, marking a significant milestone in the company's expansion strategy. The merger received approval from the National Company Law Tribunal, Cuttack Bench, and has now been formally implemented with all regulatory filings completed as of March 31, 2026.

NCLT Approval and Implementation Timeline

The National Company Law Tribunal, Cuttack Bench sanctioned the Scheme of Amalgamation through an order dated March 10, 2026. Both the transferor company (Milk Mantra Dairy Private Limited) and transferee company (Hatsun Agro Product Limited) filed the tribunal order with their respective Registrar of Companies on March 31, 2026.

The effective date of the amalgamation has been set as April 1, 2025, meaning Milk Mantra Dairy Private Limited is deemed to have been merged with Hatsun Agro Product Limited from this appointed date.

Capital Structure Changes

Following the completion of the amalgamation scheme, Hatsun Agro Product Limited has implemented significant changes to its capital structure. The company's authorized share capital has been increased substantially to accommodate the merger.

The capital restructuring required amendments to the Capital Clause of the company's Memorandum of Association to reflect the new authorized share capital structure.

Regulatory Compliance and Documentation

The company has maintained full compliance with regulatory requirements throughout the amalgamation process. The final announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring proper disclosure to stakeholders.

This development follows a series of earlier intimations to the stock exchanges, demonstrating the company's commitment to transparent communication throughout the merger process.

Strategic Implications

The successful completion of this amalgamation represents a strategic consolidation for Hatsun Agro Product Limited in the dairy sector. With Milk Mantra Dairy Private Limited now fully integrated into its operations, the company is positioned to leverage combined resources and capabilities across its diverse portfolio of brands including Arun, Arokya, Hatsun, Ibaco, and others in the ice cream, dairy, and chocolate segments.