HMT Limited has announced the cessation of Dr. Kartik Chandulal Bhadra as Non-Official Independent Director effective March 28, 2026. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, informing both BSE Limited and National Stock Exchange of India Limited about this board change.

Cessation Details

The cessation is due to the completion of Dr. Bhadra's term as Non-Official Independent Director, marking a routine conclusion of his directorial tenure rather than resignation or removal. The company has provided comprehensive details as required under SEBI listing regulations.

Regulatory Compliance

HMT Limited has fulfilled all disclosure requirements under SEBI regulations, providing detailed information through Annexure-A as mandated by SEBI Master Circular. The company confirmed that standard disclosures regarding resignation letters, detailed reasons, and other material information are not applicable since this is a term completion rather than voluntary resignation.

Company Communication

The disclosure was signed by Kishor Kumar S, Assistant General Manager (Company Secretary), on March 27, 2026. The communication was addressed to both major stock exchanges where HMT Limited shares are listed - BSE Limited (Scrip Code: 500191) and National Stock Exchange of India Limited (Scrip Code: HMT).

Administrative Process

As this cessation results from natural term completion, several standard requirements typically associated with director resignations do not apply. These include submission of resignation letters with detailed reasons, confirmation of no other material reasons for departure, and disclosure of other listed entity directorships held by the departing director.

The company has maintained transparency in its board governance by promptly disclosing this change to stakeholders and regulatory authorities, ensuring compliance with all applicable listing obligations and disclosure requirements.

HMT Limited has announced the appointment of Shri N Ramesh Kumar as Chairman & Managing Director (Additional Charge), effective March 25, 2026. The appointment follows the completion of Shri Rajesh Kohli's tenure and comes with comprehensive leadership credentials from Bharat Heavy Electricals Limited (BHEL).

Leadership Appointment Details

The Ministry of Heavy Industries, Government of India, through its order dated March 24, 2026, approved the entrustment of additional charge to Shri N Ramesh Kumar, who currently serves as Executive Director (SBD) at BHEL. The appointment is subject to ex-post facto approval from the Appointments Committee of the Cabinet (ACC).

Professional Background and Expertise

Shri N Ramesh Kumar brings over 35 years of industry experience to HMT Limited. He graduated from BITS, Pilani with BE (Hons) Mechanical Engineering and joined BHEL's Electronics Division at Bangalore in August 1990 as a Graduate Engineer Trainee. He subsequently pursued Post Graduation (PGDMM) from IGNOU and received advanced leadership training at IIM-Ahmedabad and IIM-Bangalore.

Technical Expertise and Achievements

During his tenure at BHEL, Shri N Ramesh Kumar worked across diverse advanced technology areas including Gas Turbine Controls, Distributed Control Systems, new product development, strategic planning, material procurement and management, and erection and commissioning of various solar projects. He led teams in design, engineering, and commissioning of Gas Turbine Controls for refineries and captive power plants in both domestic and overseas projects.

His recent responsibilities as Executive Director in BHEL Bangalore included EPC for solar projects (floating, ground mount, and rooftop), development of new products for substation and transmission business, creation of manufacturing facilities for Indian Railway's wheel casting, and establishment of a Centre of Excellence for KAVACH (Train collision and avoidance systems).

Regulatory Compliance and Transition

HMT Limited has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Shri N Ramesh Kumar is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority. The appointment announcement was signed by Kishor Kumar S, AGM (Company Secretary), ensuring proper corporate governance protocols during this leadership transition.