HFCL Limited concluded its 39th Annual General Meeting on September 29, 2026, with shareholders approving all seven resolutions placed before them. The meeting was conducted entirely through Video Conferencing and Other Audio Visual Means, adhering to regulatory guidelines for virtual shareholder gatherings.

During the proceedings, members adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The Board’s report and the statutory auditors’ reports were also approved. The auditors confirmed that their reports contained no qualifications or adverse remarks affecting the company’s functioning.

Dividend and Director Reappointment

Shareholders approved a dividend of ₹0.20 per equity share, representing a 20% payout on the face value of ₹1 per share for FY26. Additionally, Mr. Arvind Kharabanda, Non-Executive Director, was reappointed following his retirement by rotation. He is aged 79 years and offered himself for reappointment as eligible.

Related Party Transactions

The meeting addressed several special business items concerning material related party transactions involving HTL Limited, a material subsidiary of HFCL. These approvals cover modifications and new transactions for both FY27 and FY28.

Meeting Proceedings and Voting

Mr. Mahendra Nahata, Managing Director, presided over the meeting after being elected as Chairman. The quorum was confirmed by President and Company Secretary Mr. Manoj Baid, who noted that 87 members attended the virtual session. Voting was conducted electronically via the National Securities Depository Limited (NSDL) platform. Remote e-voting had commenced on September 26, 2026, and closed on September 28, 2026, while live e-voting remained open for 30 minutes post-meeting.

The Managing Director provided an overview of the company’s financial performance for FY26 and its future outlook. Twenty-two shareholders registered as speakers, and queries received prior to the meeting were addressed by management. The scrutinizer, Mr. Baldev Singh Kashtwal, announced the combined voting results on October 1, 2026.

What the Numbers Show

The voting data reveals a distinct divergence in shareholder sentiment between routine financial approvals and directorial appointments. While the adoption of financial statements and the declaration of dividend received overwhelming support with 99.99% votes in favour, the special resolution for the reappointment of Mr. Arvind Kharabanda attracted significant dissent. Approximately 5% of the total votes polled were cast against this resolution, primarily driven by institutional investors who voted against at a rate of 13.2%. This contrasts sharply with the near-unanimous support for related party transactions involving HTL Limited, which passed with over 99.98% in favour among eligible voters.

HFCL Limited will participate in the "Goldman Sachs India - Hidden Gems" event on September 30, 2026. The management team will engage with investors and analysts through virtual group and one-on-one interactions to discuss general business updates and industry trends.

Event details and format

The company confirmed its participation in a filing to stock exchanges. The interaction is scheduled to take place virtually, allowing for broader access by institutional investors. HFCL stated that only information available in the public domain will be shared during these sessions, ensuring compliance with disclosure norms.

Regulatory compliance

This intimation is made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations. In line with Regulation 46(2)(o), the details have been hosted on the company's website for public access.

The schedule may undergo changes due to exigencies on the part of the company or investors. For further inquiries, stakeholders were directed to contact the Investor Relations department via email or telephone.