Hikal Limited has issued the notice for its 38th Annual General Meeting (AGM), scheduled for Wednesday, September 23, 2026. The meeting will seek shareholder approval for the appointment of Mr. Sameer Hiremath as Chairman and Managing Director (CMD) and a final dividend of ₹0.40 per share for FY26.

The AGM will be conducted through Video Conferencing or Other Audio Visual Means (VC/OAVM). The deemed venue is the company’s registered office in Mumbai.

Leadership Transition

Mr. Jai Hiremath, the Founder, will step down as Executive Chairman effective October 1, 2026, concluding nearly four decades of leadership. The Board proposes appointing Mr. Sameer Hiremath, currently Vice-Chairman and Managing Director, as CMD for five years from October 1, 2026, to September 30, 2031.

Mr. Hiremath’s remuneration will be fixed based on Schedule V limits of the Companies Act, 2013, for an initial three-year period until September 30, 2029. He holds a BE in Chemicals, an MBA, and an MS in IT from Boston University.

Dividend Details

The Board had previously recommended a final dividend of ₹0.40 per equity share of face value ₹2 each during its May 27, 2026, meeting. This follows an interim dividend of ₹0.20 per share declared earlier in the year. If approved, the total dividend for FY26 will aggregate to ₹0.60 per share.

The record date for determining shareholder eligibility for the final dividend is Friday, September 4, 2026. Payments will be made on or before October 23, 2026.

Other Business Items

Shareholders will also consider the re-appointment of Mr. Sarangan Suresh as a Director, who retires by rotation. Additionally, the meeting will approve a revision in his remuneration as Whole-Time Director, effective October 1, 2026. His monthly salary will increase from ₹3,33,333 to ₹3,75,000, with other benefits capped at ₹45 lakh annually.

The ratification of remuneration for Cost Auditors M/s. V.J. Talati & Co. for FY27, amounting to ₹5,25,000 plus taxes and expenses, is also on the agenda.

E-Voting and Taxation

Remote e-voting will be open from September 19, 2026, at 9:00 am to September 22, 2026, at 5:00 pm. The cut-off date for e-voting eligibility is September 16, 2026.

Dividend income is taxable in the hands of shareholders. TDS will be deducted at 10% for resident individuals with valid PANs. Non-residents may avail beneficial tax treaty rates by submitting required documents, including Form 41 and Tax Residency Certificates, by September 10, 2026.

Hikal has appointed Sameer Hiremath as its Chairman and Managing Director. The Board of Directors approved the five-year term on August 26, 2026.

The appointment is subject to shareholder approval at the ensuing Annual General Meeting. Hiremath will assume office on October 1, 2026, serving until September 30, 2031.

Leadership Transition

Hiremath currently serves as Vice Chairman and Managing Director. He brings nearly three decades of experience with the company. His background includes leadership in strategy, business development, research, technology, manufacturing, and operations.

He holds a degree in Petrochemical Engineering. He also possesses an MBA and an MS in Information Technology from Boston University, USA.

Regulatory Compliance

The Nomination and Remuneration Committee and Audit Committee recommended the appointment. The board unanimously approved it during a meeting that commenced at 11:30 am and concluded at 1:12 pm.

The company confirmed that Hiremath is not debarred from holding office by any SEBI order or other authority. He is the son of Jai Hiremath and Sugandha Hiremath.

This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.