HMT Limited shareholders approved the audited standalone and consolidated financial statements for the financial year ended March 31, 2026, during the company's 73rd Annual General Meeting held on September 30, 2026. The meeting, conducted via video conferencing, also ratified several key director appointments, including the designation of N. Ramesh Kumar as Chairman and Managing Director.

The voting results, submitted to stock exchanges on October 1, 2026, indicate overwhelming support for all proposed resolutions. For the adoption of financial statements (Resolution 1), 112,83,60,915 votes were cast in favor, representing 99.9945% of valid votes. Only 62,613 votes were cast against this resolution.

Key Board Appointments Ratified

The AGM authorized the appointment of several directors as per Ministry of Heavy Industries orders. These appointments were passed with similar margins of support:

• N. Ramesh Kumar was appointed as Chairman & Managing Director (C & MD), liable to retire by rotation.
• Ms. Nigar Fatima Husain was appointed as Government Nominee Director, liable to retire by rotation.
• Shri Dharmender Varada was appointed as an Independent Director, not liable to retire by rotation.
• Smt. Seema Mishra was appointed as an Independent Director, not liable to retire by rotation.
• Smt. Sameena Kohli was re-appointed as a director in place of herself, who retired by rotation.

Voting Participation and Scrutiny

The meeting saw participation from both promoters and public shareholders. The promoter group, holding 1,12,80,56,626 shares, voted entirely in favor of all resolutions via remote e-voting. Public non-institutional shareholders, who held 7,60,09,504 shares, recorded a turnout where approximately 0.48% of their holding voted. Among these public voters, roughly 83% supported the resolutions, while 17% voted against.

Vinod HN & Associates, a chartered accountant firm, served as the scrutinizer for the e-voting process. The report confirmed that all resolutions were passed with the requisite majority under the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

What the Numbers Show

A distinct divergence exists between promoter and public shareholder sentiment. While the promoter group exercised 100% of its voting power in favor of every resolution, public non-institutional shareholders showed notable dissent. In Resolution 2 (re-appointment of Smt. Sameena Kohli), public non-institutional votes against rose slightly to 65,614, compared to 62,613 for the financial statements adoption. This suggests that while the governance decisions were uncontested by the government promoter, a small but consistent segment of retail investors expressed opposition to specific board compositions.

HMT Limited has appointed M/s G R S M & Associates as its statutory auditor and M/s Gautam N Associates as branch auditor for the financial year 2026-27. The Comptroller and Auditor General of India made the appointments, which were disclosed to stock exchanges on September 10, 2026.

The statutory auditor will handle corporate and consolidated accounts for HMT and its group companies based in Bengaluru. This marks a continuation of the existing engagement, with no change in the statutory auditor firm.

Audit Scope and Assignments

M/s Gautam N Associates will serve as the branch auditor. Their mandate covers the Food Processing Machinery Division in Aurangabad, Maharashtra, and a turnkey project located in Indore, Madhya Pradesh.

Auditor Profiles

G R S M & Associates is a Bengaluru-based partnership firm established in 1986. The firm holds an ICAI registration number of 000863S and possesses a valid peer review certificate. It is empanelled with the Reserve Bank of India under Category I classification and is eligible for audits of public sector undertakings by the CAG.

The firm employs seven partners and approximately 25 professional staff members, including chartered accountants and professionals qualified in CISA, DISA, and CMA. Its core services encompass statutory audits under Indian GAAP and Ind-AS frameworks, internal audits, and tax compliance.

M/s Gautam N Associates was established in 1980 and operates from Chhatrapati Sambhajnagar and Mumbai. The firm’s partner in Chhatrapati Sambhajnagar, Gautam Nandawat, holds a Certificate of Practice since 1980 and has served as an independent director at CLC Industries Ltd. The Mumbai partner, Anumeha Nandawat, holds a Certificate of Practice since 2011 and an MS in General Management from the University of Leeds.

Gautam N Associates has previously handled statutory audits for listed entities such as Nath Bio-genes (India) Ltd and APT Packaging Ltd, as well as major banks including the State Bank of India and Bank of Baroda.