HMA Agro Industries Completes Share Purchase Agreement for Laal Agro Food Divestment

HMA Agro Industries has executed a Share Purchase Agreement (SPA) on May 02, 2026 to divest its entire equity stake in wholly owned subsidiary Laal Agro Food Private Limited. The transaction involves the sale of 10,000 equity shares to promoter group buyers Mr. Gulzar Ahmad and Mohammad Kamil Qureshi for a total consideration of ₹1,00,000, determined at ₹10 per equity share based on a valuation report dated April 30, 2026 from a Registered Valuer.

Transaction Details

The divestment follows the Board of Directors' approval granted on April 25, 2026. The sale is expected to be completed by May 30, 2026, subject to the fulfillment of closing conditions outlined in the SPA. Upon completion, Laal Agro Food Private Limited will cease to be a wholly owned subsidiary of the company.

Particulars	Details
Target Company	Laal Agro Food Private Limited
SPA Execution Date	May 02, 2026
Expected Completion	May 30, 2026
Shares Sold	10,000 equity shares
Consideration	₹1,00,000
Price Per Share	₹10

Buyer Information

The Board has approved the divestment to the following identified buyers, who are part of the promoter/promoter group and classified as related parties:

Buyer	Shares Allocated
Mr. Gulzar Ahmad	5,000 shares
Mohammad Kamil Qureshi	5,000 shares

Financial Position of Subsidiary

As per audited financial statements as on March 31, 2025, Laal Agro Food Private Limited reported the following:

Particulars	Amount (in Million)	Percentage
Turnover	Nil	0%
Net worth	11.41	0.14%

The subsidiary is presently not engaged in active business operations and does not meet the criteria of a material subsidiary under Regulation 16(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The transaction is being undertaken on an arm's length basis and qualifies as a related party transaction. It has been approved in accordance with Regulation 23 of the SEBI LODR Regulations. Since Laal Agro Food Private Limited is not a material subsidiary, the provisions of Regulation 24 are not applicable. The transaction does not involve any agreement impacting management or control beyond the transfer of shareholding.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.41%	-1.70%	+12.23%	-21.56%	-24.49%	-58.63%

HMA Agro Industries Limited has published newspaper advertisements on April 28, 2026, in compliance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announcing the completion of postal ballot notice dispatch and providing detailed remote e-voting information to shareholders.

Newspaper Advertisement Publication

The company published advertisements in two newspapers on Tuesday, April 28, 2026, to inform shareholders about the postal ballot process:

Publication Details:	Information
English Newspaper:	Financial Express (New Delhi Edition)
Vernacular Newspaper:	Hindustan (Agra Edition)
Publication Date:	April 28, 2026
Regulatory Compliance:	Regulation 47 of SEBI LODR

E-Voting Schedule and Resolutions

The company is seeking shareholder approval on eight resolutions through postal ballot via remote e-voting process. The voting schedule remains as previously announced:

E-Voting Timeline:	Details
Commencement:	9:00 a.m. IST on April 29, 2026
Conclusion:	5:00 p.m. IST on May 28, 2026
Cut-off Date:	April 24, 2026
Notice Dispatch:	Completed on April 27, 2026

Resolution Details

Shareholders will vote on the following matters:

Resolution Type:	Description
Special Resolution:	Alteration of Articles of Association
Ordinary Resolution:	Appointment of Mr. Gulzar Ahmad as Chairperson and Managing Director
Ordinary Resolution:	Appointment of Mr. Viswambharan Parameswaran as Director and Whole-Time Director
Ordinary Resolution:	Appointment of Mr. Bhabani Sankar Acharya as Director and Whole-Time Director
Special Resolution:	Re-appointment of Mr. Gaurav Rajendra Luthra as Independent Director
Special Resolution:	Shifting of Registered Office from Uttar Pradesh to Delhi NCT

Shareholder Information and Access

The postal ballot notice has been made available across multiple platforms for comprehensive shareholder access. Only members whose names appear in the register of members or list of beneficial owners as of the cut-off date are eligible to vote. The company has appointed CS R.C. Sharma as the Scrutinizer to ensure fair and transparent voting process.

Voting rights will be proportional to shareholders' stake in the paid-up equity share capital as determined on April 24, 2026. The results will be announced on or before May 30, 2026, and displayed on the company website and stock exchange platforms.