Hindustan Agrigenetics Limited (HAL) has announced that its Committee of Independent Directors has concluded the open offer by Mr. Rajendra Naniwadekar to be fair and reasonable. This development marks a significant milestone in the potential ownership change of the agribusiness company.

Open Offer Details

The open offer, initiated by Mr. Rajendra Naniwadekar (referred to as "the Acquirer"), aims to acquire up to 11,44,052 equity shares of Hindustan Agrigenetics Limited. Key points of the offer include:

• Offer Price: Rs. 54.00 per share
• Face Value: Rs. 10.00 per share
• Target Acquisition: 26% of the company's fully paid-up voting share capital

Timeline of Events

The Committee of Independent Directors reached their decision after a thorough review of the following documents:

1. Public Announcement dated January 13, 2025
2. Detailed Public Statement published on January 20, 2025
3. Letter of Offer dated August 25, 2025

Committee's Decision

In a meeting held on August 28, 2025, the Committee of Independent Directors discussed, analyzed, and reviewed the open offer. Their conclusion that the offer is "fair and reasonable" provides a positive signal to shareholders considering the proposal.

Company Information

Hindustan Agrigenetics Limited, with its registered office in New Delhi, operates under the CIN: L01119DL1990PLC040979. The company's shares are listed on the Bombay Stock Exchange (BSE).

Implications for Shareholders

This endorsement by the Independent Directors committee is a crucial factor for shareholders to consider. While the committee's opinion is that the offer is fair, shareholders should conduct their own assessment based on their individual financial situations and investment goals before making a decision.

Next Steps

Shareholders of Hindustan Agrigenetics Limited should keep an eye out for further communications regarding the open offer process, including important dates and procedures for participating in the offer, if they choose to do so.

The outcome of this open offer could potentially lead to a significant change in the ownership structure of Hindustan Agrigenetics Limited, which may have implications for the company's future direction and strategy.

Hindustan Agrigenetics Limited (HAL) has reported a significant turnaround in its financial performance for the first quarter. The agricultural seeds trading company posted a net profit of ₹40.19 lacs, marking a substantial improvement from the previous quarter's loss of ₹51.61 lacs.

Financial Highlights

All figures in lacs, except EPS

Revenue Breakdown

The company's total revenue saw a significant increase, primarily driven by:

1. Interest Income: ₹19.61 lacs
2. Positive Changes in Investment Values: ₹31.54 lacs
3. Revenue from Operations: ₹4.33 lacs (remained flat compared to the previous year's Q1)

Expense Management

HAL demonstrated effective cost control during the quarter:

All figures in lacs

Balance Sheet Strength

• Paid-up Share Capital: Maintained at ₹440.02 lacs
• Face Value per Share: ₹10
• Total Reserves: Increased to ₹802.51 lacs from ₹762.32 lacs in the previous quarter

Management Commentary

The Board of Directors approved the unaudited financial results for the quarter in their meeting. The meeting was presided over by Managing Director Pritam Kapur.

Auditor's Review

The financial results were subject to a limited review by the company's statutory auditors, Anant Rao & Mallik, Chartered Accountants. The auditors stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Outlook

While Hindustan Agrigenetics Limited has shown a remarkable turnaround, it's important to note that the company operates in the agricultural seeds trading sector, which can be subject to seasonal variations. The company's ability to maintain this positive momentum will be closely watched by investors in the coming quarters.

Hindustan Agrigenetics Limited continues to focus on its core business of trading in agricultural seeds, as confirmed in the company's segment reporting. The management's efforts in improving financial performance and maintaining cost efficiency appear to be yielding positive results.

Note: All financial figures are in Indian Rupees (₹) and are reported on a standalone basis.