HMT Limited will hold its 73rd Annual General Meeting (AGM) on September 30, 2026. The meeting includes the appointment of N. Ramesh Kumar as Chairman & Managing Director and the re-appointment of Smt. Sameena Kohli.

The company published notices in Financial Express, Hosadiganta, and Rajasthan Patrika on September 8, 2026. The AGM will be conducted via Video Conferencing or Other Audio Visual Means (OAVM) through KFin Technologies Limited, complying with SEBI LODR Regulations 2015 and Ministry of Corporate Affairs rules.

Meeting Details

Shareholders participating via video conferencing count towards the quorum under Section 103 of the Companies Act, 2013. The Notice of the AGM and the Annual Report for FY26 are available electronically to members with registered emails.

Agenda Items

The AGM covers ordinary and special business items:

• Financial Statements: Receive, consider, and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, along with Directors' and Auditors' reports.
• Director Re-appointment: Appoint Smt. Sameena Kohli (DIN: 10663362) as a director in place of her retirement by rotation.
• Auditor Remuneration: Authorize the Board to fix remuneration for Independent Auditors appointed by the C&AG of India for 2026-27.
• C&MD Appointment: Appoint Shri N. Ramesh Kumar (DIN: 11630127) as Chairman & Managing Director, pursuant to a Ministry of Heavy Industries order dated March 24, 2026.
• Government Nominee Director: Appoint Ms. Nigar Fatima Husain (DIN: 11688785) as Government Nominee Director, per a Ministry of Heavy Industries order dated April 27, 2026.

E-Voting and Documentation

Remote e-voting is available for members holding shares in dematerialized or physical mode. Shareholders without registered emails will receive letters with web links to access the AGM notice and annual report.

Voting Schedule

Share Transfer Closure

The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026 (both days inclusive) for the purpose of the AGM.

HMT Limited has been penalised ₹7,58,740 each by the Bombay Stock Exchange and the National Stock Exchange for regulatory non-compliance. The fines relate to the absence of requisite independent directors on the company’s board during the quarter ended June 30, 2026.

The penalties, inclusive of GST, stem from violations of Regulations 17(1), 18(1), and 19(1)/19(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exchanges cited deficiencies in the composition of the Board of Directors, Audit Committee, and Nomination and Remuneration Committee.

Regulatory Context

HMT Limited disclosed that it is a Government of India undertaking where all directors are appointed by the government in accordance with its Articles of Association. The company stated that it has requested the Administrative Ministry to appoint the required number of independent directors, including one independent woman director, to comply with SEBI norms.

The regulatory action highlights the strict enforcement of governance standards even for public sector undertakings, particularly regarding the mandatory presence of independent oversight on key committees.

Remedial Actions

Following the quarter ended June 30, 2026, the company appointed Shri Dharmender Varada and Smt Seema Mishra as independent directors effective August 17, 2026. This appointment was made to rectify the compliance gap identified by the exchanges.

Waiver Application

Pursuant to the Standard Operating Procedure (SOP) circular issued by the stock exchanges, HMT Limited is currently in the process of applying for a waiver of the imposed fines. The company cited its status as a government entity and the procedural nature of director appointments as grounds for seeking relief from the penalties.

What the Numbers Show

The total financial impact of this regulatory action stands at ₹15,17,480 (₹7,58,740 x 2). While the amount is nominal relative to typical corporate revenues, the timing of the remedial appointments—nearly two months after the quarter-end—underscores a lag in administrative alignment between government appointments and exchange compliance deadlines.