Heritage Foods Limited has completed the acquisition of an additional 20% equity stake in Peanutbutter and Jelly Limited (PBJL), increasing its holding to make PBJL a 71% subsidiary. The equity shares were credited to the company’s demat account on July 27, 2026, finalizing the transaction approved by the Board earlier in the month. This consolidation strengthens Heritage Foods’ control over the peanut butter brand, aligning operational strategy under majority ownership.

The acquisition was executed from existing shareholders of PBJL, as intimated in a previous filing dated July 16, 2026. With the transfer of shares complete, PBJL is now formally recognized as a 71% subsidiary of Heritage Foods Limited with effect from July 27, 2026. The company notified both the Bombay Stock Exchange and the National Stock Exchange of India Limited regarding the completion of the acquisition.

Transaction Details

Heritage Foods Limited, registered under CIN L15209TG1992PLC014332, disclosed the update through its Company Secretary and Compliance Officer, Umakanta Barik. The filing references SECT: STOC: 79-26 and confirms that the shares have been duly credited to the corporate demat account. The company’s scrip codes are 519552 on BSE and HERITGFOOD on NSE.

Strategic Consolidation

The move to increase the stake to 71% allows Heritage Foods to exert greater influence over PBJL’s governance and financial reporting. As a majority stakeholder, Heritage Foods can now consolidate PBJL’s financial results more comprehensively into its own balance sheet. This step follows the initial approval granted on July 16, 2026, signaling a decisive move to integrate the brand fully into its portfolio.

Peanutbutter and Jelly Limited (CIN: U15400MH2022PLC377342) operates in the food processing sector, complementing Heritage Foods’ existing dairy and processed food offerings. The completion of this transaction marks a significant milestone in the company’s expansion strategy within the consumer staples segment.

Heritage Foods Limited shareholders overwhelmingly approved a final dividend of ₹2.50 per equity share for FY26, alongside the adoption of audited financial statements and key director re-appointments, during its 34th Annual General Meeting (AGM) held on July 23, 2026. The meeting, conducted via video conferencing from the Hyderabad registered office, concluded with the formal submission of the consolidated scrutinizer’s report to stock exchanges. All resolutions passed with support exceeding 99.7%, reflecting strong stakeholder confidence in the company’s transition to a nutrition-first food enterprise.

The AGM was presided over by Chairperson A. V. Girija Kumar, with Vice Chairperson & Managing Director N. Bhuvaneswari and Executive Director N. Brahmani presenting the business outlook. The statutory auditors, M/s. Walker Chandiok & Co LLP, and secretarial auditors issued unqualified reports. M/s. Ravi & Subramanyam, Company Secretaries, served as the independent scrutinizer for the remote e-voting and instapoll process conducted under Section 108 of the Companies Act, 2013 and Regulation 44 of SEBI LODR Regulations. The cut-off date for voting eligibility was July 15, 2026.

Voting Results Overview

Shareholders voted on five resolutions: four ordinary items concerning financial statements, dividend declaration, and director rotation, and one special item for the re-appointment of an independent director. The promoter group, holding 38,327,742 shares, voted in favor of all resolutions. Public institutional and non-institutional investors also showed high participation rates, with total votes polled representing approximately 60.7% of outstanding shares.

Detailed Resolution Analysis

The dividend resolution received 5,63,42,275 votes in favor out of 5,63,42,320 polled, with only 45 votes cast against. Similarly, the adoption of standalone and consolidated financial statements for the year ended March 31, 2026, secured nearly unanimous approval, with just 74 votes against each. The re-appointment of the director retiring by rotation saw slightly higher dissent, with 1,048 votes against, primarily from public non-institutional investors.

The special resolution to re-appoint Mr. Muthu Raju Paravasa Raju Vijay Kumar as a Non-Executive Independent Director passed with 99.7861% support. While the promoter group voted entirely in favor, public institutional investors cast 1,19,458 votes against this specific resolution, accounting for the majority of the dissenting votes. Despite this, the resolution comfortably met the requisite majority threshold under the Companies Act.

Governance and Compliance

The voting process utilized National Securities Depository Limited (NSDL) as the service provider for remote e-voting from July 20 to July 22, 2026, and instapoll during the AGM. The scrutinizer unblocked the votes in the presence of two independent witnesses not employed by the company, ensuring procedural integrity. The results have been uploaded to the company’s website and submitted to BSE and NSE as per regulatory requirements.