Hester Biosciences Limited has completed the sale of its entire equity investment in Texas Lifesciences Private Limited for an aggregate consideration of INR 23 million. The transaction, which took place on July 8, 2026, involved the transfer of 543,248 equity shares representing an 11% stake to existing shareholders of the company. This move marks a complete exit from the investment, reducing Hester Biosciences' shareholding in Texas Lifesciences Private Limited from 11% to nil.

The divestment was executed in accordance with the terms previously approved by the Board of Directors of Hester Biosciences. The transfer of shares was concluded with existing shareholders of Texas Lifesciences Private Limited, and the company has consequently ceased to hold any equity shares in the entity following the closure of the deal.

Transaction Details

The disclosure was submitted to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Vinod Mali, Company Secretary & Compliance Officer of Hester Biosciences Limited. The key details of the transaction are outlined below:

Hester Biosciences Limited has corrected the gross salary for Executive Director Ms. Priya Gandhi to INR 10 lakh per month, rectifying a typographical error in the notice for its 39th Annual General Meeting (AGM). The company stated that the remuneration terms approved by the Board of Directors specified INR 10 lakh per month, whereas the explanatory statement in the AGM notice had incorrectly listed the figure as INR 8.40 lakh per month. The AGM is scheduled to be held on Tuesday, 21 July 2026 at 10:30 a.m. (IST) through Video Conference or Other Audio Visual Means.

The corrigendum, submitted to BSE Limited and National Stock Exchange of India Limited, clarifies that the adjustment is solely to rectify the clerical error and does not represent a change in the approved remuneration policy. The revised figure will be presented to shareholders for approval as part of the special resolution regarding the re-appointment of Ms. Priya Gandhi for a period of three years commencing from 28 October 2026 to 27 October 2029.

AGM Agenda and Resolutions

The 39th AGM will transact ordinary and special business, including the adoption of audited standalone and consolidated financial statements for the financial year ended 31 March 2026. The Board has recommended a dividend of INR 11 per equity share of INR 10 each fully paid-up for the financial year ended 31 March 2026. Additionally, shareholders will vote on the ratification of the remuneration for Cost Auditor Kiran J. Mehta & Co., set at up to INR 0.25 million plus goods and service tax and reimbursement of out-of-pocket expenses for the financial year ending 31 March 2027.

Executive Director Re-appointment

Ms. Priya Gandhi, who has served as Executive Director since October 2021, is proposed for re-appointment. Her remuneration package includes a gross salary of INR 10 lakh per month, perquisites such as housing, medical expenses, and club memberships, and contributions to provident and superannuation funds. The aggregate remuneration and perquisites in any financial year will not exceed the limits prescribed under the Companies Act, 2013.

Financial Performance

The company reported a net profit after tax of INR 521 million for the financial year 2025-26, compared to INR 318.42 million in the previous year. Total income for the period stood at INR 2,997.71 million. The Board noted that the company has been consistently profitable and expects to continue this trend through capacity utilisation and productivity improvements.