Hikal Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Sandip Parikh as an Independent Director. The resolution proposes a tenure of five consecutive years commencing from May 27, 2026. Mr. Parikh was initially appointed as an Additional Director by the Board of Directors following a recommendation from the Nomination & Remuneration Committee.

The appointment requires a special resolution under the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Sandip Parikh (DIN: 00030990) is a Chartered Accountant and Law Graduate with 38 years of experience in Taxation, Assurance, and Transaction Advisory services. He is currently a Partner at M/s. G. K. Choksi & Co. and has confirmed he meets the criteria of independence under the Act and Listing Regulations.

Shareholders registered on the books of the company as of May 29, 2026, are eligible to participate in the voting process. The company has engaged National Securities Depository Limited (NSDL) to facilitate remote e-voting. The voting period begins at 9.00 A.M. (IST) on June 05, 2026, and concludes at 5.00 P.M. (IST) on July 04, 2026.

Postal Ballot Schedule

Mr. Dhruvil Shah of Dhruvil M. Shah and Co LLP has been appointed as the Scrutinizer to ensure the process is conducted fairly. The results of the remote e-voting will be announced within two working days after the conclusion of the voting period and will be available on the company’s website. The notice has been dispatched to members electronically, and physical copies are not being distributed for this ballot.

Hikal Limited reported a consolidated net loss of ₹49 crore for the financial year ended March 31, 2026, compared to a net profit of ₹91 crore in the previous year. The annual loss was primarily driven by exceptional items totaling ₹85 crore, which included an impairment charge of ₹47 crore for repurposing a manufacturing plant at Panoli and costs related to new Labour Codes. For the quarter ended March 31, 2026, the company posted a net profit of ₹14 crore and revenue from operations of ₹519 crore. The board has recommended a total dividend of 30%, including a final dividend of 20%, subject to shareholder approval.

Q4 and FY26 Financial Performance

The quarterly performance showed a recovery, with EBITDA rising to ₹105 crore in Q4FY26 from ₹83 crore in the preceding quarter. However, annual profitability was impacted by the exceptional items. Excluding these items, the profit before tax (PBT) for the year stood at ₹7 crore. The company recorded a total revenue of ₹1,713 crore for FY26 and an EBITDA margin of 12.9%.

Operational Highlights

The Pharmaceutical business witnessed sequential improvement in EBIT margins, with H2 FY26 revenue growing 60% over H1 FY26 to ₹629 crore. The Crop Protection business accelerated during the quarter, with revenues growing 45% quarter-on-quarter and 13% year-on-year to ₹228 crore. Management indicated that the worst of the inventory correction cycle is behind them, though pricing challenges persist due to structural overcapacity and competition. The company also noted that its diversification strategy into Personal Care and Specialty Chemicals is gaining traction.

Outlook and Governance

Jai Hiremath, Executive Chairman, stated that the company is moving from a phase of remediation to sustainable growth. He highlighted that strategic investments in high-potency laboratories and pilot plants are now fully operational. The company expects new products in the Specialty Chemicals and Personal Care segments to contribute meaningfully from FY27 onwards. Additionally, the board appointed Mr. Sandip Parikh as an Additional Director in the category of Independent Director for a period of five years effective May 27, 2026.