HMT Limited has scheduled its 73rd Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will commence at 2:00 pm and will be conducted through Video Conferencing or Other Audio Visual Means (OAVM), in compliance with SEBI and Ministry of Corporate Affairs regulations.

The company published notices in Financial Express, Hosadiganta, and Rajasthan Patrika on September 8, 2026, informing shareholders of the upcoming meeting. Members can attend the AGM virtually via the platform hosted by KFin Technologies Limited.

Meeting Details

The AGM aims to transact the business outlined in the official notice. Shareholders participating through video conferencing will be counted towards the quorum under Section 103 of the Companies Act, 2013.

E-Voting and Documentation

Shareholders will have the opportunity to cast their votes through an electronic voting system. Remote e-voting is available for members holding shares in dematerialized or physical mode, as well as those who have not registered email addresses. Instructions for joining the meeting and casting votes are detailed in the AGM notice.

The Notice of the AGM and the Annual Report for FY26 will be sent electronically to members with registered email addresses. Shareholders without registered emails will receive a letter containing web links to access these documents. The reports are also available on the company website and stock exchange portals.

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.