HMA Agro Industries shareholders approved all seven ordinary and special resolutions at its 18th Annual General Meeting held on September 18, 2026. The meeting concluded at 4:55 pm after ratifying the appointment of M/s VAA & Associates as statutory auditor and increasing the remuneration of Chairperson Gulzar Ahmad.

The quorum was present with 67 members attending out of 68,505 shareholders on record as of September 11, 2026. The deemed venue was the company's registered office in Agra, Uttar Pradesh. Voting results were scrutinized by R.C. Sharma & Associates, with NSDL serving as the e-voting agency.

Voting Results Overview

Promoter and promoter group shareholders, holding 375,577,327 shares, cast 100% of their votes in favor of all non-conflicted resolutions. Public institutional investors held 23,957,364 shares, while public non-institutional investors held 101,235,079 shares. Total votes polled across all resolutions ranged from 6,380,946 to 381,958,273 depending on promoter participation.

Auditor Appointment Details

M/s VAA & Associates, Chartered Accountants (Firm Registration No. 016079C), will hold office from the conclusion of the 18th AGM until the conclusion of the 23rd AGM. The firm, established in 2011, has offices in Agra and Noida and holds Peer Review Certificate No. 024504 valid until February 28, 2029. It has completed AQMM Level 3.

The appointment was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The firm provides services across audit, assurance, taxation, and financial consultancy.

Succession from Outgoing Auditor

The new appointment follows the completion of the first five-year term of M/s MAPSS and Company (Firm Registration No. 012796C). MAPSS and Company served as statutory auditors for HMA Agro Industries and its subsidiaries until the conclusion of the 18th AGM on September 18, 2026.

MAPSS and Company provided written confirmation and no-objection regarding the completion of its tenure and the appointment of VAA & Associates. The outgoing firm also ceased to be the statutory auditor for the company's subsidiaries upon the same date.

Management Address

Gulzar Ahmad, Chairperson and Managing Director, addressed the meeting, providing an overview of business performance and future growth prospects. He thanked stakeholders for their support.

Gulzeb Ahmed, Chief Financial Officer, presented the financial performance for FY26. He also addressed member queries regarding operational performance and expansion plans.

Governance and Attendance

The Audit Committee, Stakeholders' Relationship Committee, and Nomination and Remuneration Committee chairpersons were present to address queries. Statutory Auditor Varun Bansal and Secretarial Auditor Ramesh Chand Sharma also attended.

Viswambharan Parameswaran retires by rotation and was re-elected. Bhabani Sankar Acharya, Whole Time Director, was granted leave of absence.

HMA Agro Industries has executed a Share Sale Agreement dated September 9, 2026, to divest its entire 100% equity stake in subsidiary FNS Agro Foods Limited to its promoter group. The board had initially sanctioned the related-party transaction on September 8, 2026.

The deal involves the transfer of 8,95,593 equity shares of ₹10 each at a consideration of ₹55.92 per share. The aggregate transaction value is ₹5,00,81,560.56. The agreement confirms that the transaction is conducted on an arm's-length basis based on valuation by an independent Registered Valuer.

Transaction Progress

Following the board approval, the formal agreement was signed on September 9, 2026. The transfer of shares will be effected through an off-market transfer in dematerialised form. Completion of the transaction is expected by September 30, 2026.

Upon completion, FNS Agro Foods Limited will cease to be a subsidiary of HMA Agro Industries. The company stated there are no special rights such as director appointment or pre-emptive subscription rights associated with the agreement.

Buyer Identification

The seven identified acquirers comprise members of the Promoter/Promoter Group:

• Four purchasers are Promoters of HMA Agro Industries.
• Three purchasers are relatives of Promoters.

The approved buyers include Mr. Gulzar Ahmad, Mohammad Ashraf Qureshi, Mohammad Mehmood Qureshi, Zulfiqar Ahmad Qureshi, Mohammad Moosa Qureshi, Mohammad Arsal Qureshi, and Mohammad Ajmal Qureshi.

Financial Impact

FNS Agro Foods Limited is not engaged in active business operations. As per audited financial statements as on March 31, 2026, the subsidiary reported nil turnover. Its net worth stood at ₹48.81 million, contributing 0.51% to the parent company's net worth.

Regulatory Compliance

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the SEBI Master Circular dated January 30, 2026. The notice was signed by Nikhil Sundrani, Company Secretary and Compliance Officer, on September 9, 2026.