HMA Agro Industries has scheduled a Board of Directors meeting for September 8, 2026, to consider the complete divestment of its subsidiary, FNS Agro Foods Limited.

The company intends to dispose of its entire 100% equity shareholding in the subsidiary during the session. The meeting will be conducted via Video Conferencing or Other Audio Visual Means (OAVM) starting at 3:30 pm.

Agenda Details

The primary agenda item involves the approval of the divestment. The board may also consider any other matters permitted by the Chairperson during the course of the meeting.

Regulatory Compliance

The intimation was issued pursuant to Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Nikhil Sundrani, Company Secretary and Compliance Officer, on September 3, 2026.

HMA Agro Industries confirmed the completion of its 18th Annual General Meeting (AGM) notice dispatch through newspaper advertisements published on August 28, 2026. The company filed this intimation with stock exchanges on August 29, 2026, in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations.

The meeting is scheduled for Friday, September 18, 2026, at 3:30 pm through Video Conferencing or Other Audio Visual Means. This confirmation follows the issuance of a revised notice on August 27, 2026, which corrected typographical errors in the initial filing dispatched on August 26, 2026.

Compliance and Dispatch Details

The newspaper advertisements were placed in Financial Express (English) and Hindustan (Hindi) to meet the requirements of Section 108 of the Companies Act, 2013, read with Rule 20 of the Companies (Management and Administration) Rules, 2014. The filing was authorized by Mr. Gulzar Ahmad, Chairperson and Managing Director.

Key AGM Dates

• Cut-off for voting eligibility: Friday, September 11, 2026
• Remote e-voting commencement: Tuesday, September 15, 2026 at 9:00 am
• Remote e-voting end: Thursday, September 17, 2026 at 5:00 pm
• Book closure period: Saturday, September 12, 2026 to Friday, September 18, 2026

National Securities Depository Limited (NSDL) continues to provide remote e-voting facilities. M/s R.C. Sharma & Associates serves as the scrutinizer. The register of members and share transfer books will remain closed from September 12, 2026 to September 18, 2026.

Auditor Appointment

Based on the Audit Committee’s recommendation, the board proposed appointing M/s VAA & Associates (FRN: 016079C) as statutory auditors for five consecutive years. The firm holds Peer Review Certificate No. 024504 and has completed AQMM Level 3.

The appointment is subject to shareholder approval and will hold office from the conclusion of the 18th AGM to the 23rd AGM. The proposed annual audit fee for FY27 is ₹27.5 lakh, plus applicable taxes and out-of-pocket expenses. No relationship between directors and the proposed auditors was disclosed.

Director Reappointment

The AGM agenda includes the reappointment of Mr. Viswambharan Parameswaran (DIN: 09822921), who retires by rotation. He has been serving as Whole-Time Director since April 25, 2026, focusing on compliance, administration, and corporate governance. He currently holds no shareholding in the company.

MD Remuneration Increase

Shareholders will be asked to approve a 25% increase in the remuneration of Mr. Gulzar Ahmad, Chairperson and Managing Director, effective October 1, 2026. His basic monthly salary will rise from ₹10 lakh to ₹15 lakh.

The increase aligns with prevailing industry standards for similar positions in companies of comparable size. The total managerial remuneration remains subject to the limits prescribed under Section 197 of the Companies Act, 2013.

Borrowing Powers

The board seeks shareholder approval via special resolution to increase borrowing powers to ₹2,000 crore under Section 180(1)(c) of the Companies Act, 2013. Additionally, shareholders will decide on authorizing the board to create charges on movable and immovable properties up to ₹2,000 crore under Section 180(1)(a).

Another special resolution proposes increasing the threshold for loans, guarantees, and investments under Section 186 to ₹2,000 crore.