Hindustan Motors Limited, a prominent Indian automotive manufacturer, has announced significant changes to its Board of Directors and set the date for its upcoming Annual General Meeting (AGM). The company's Board has approved these decisions through a circular resolution passed on August 12, 2025.

New Board Appointments

The Board of Directors has approved two key appointments, both effective from September 24, 2025:

1. Mrs. Mou Mukherjee has been appointed as a Non-Executive and Non-Independent Director. This appointment follows the completion of her second term of five consecutive years as an Independent Director of the company.

2. Mr. Sourav Daspatnaik joins the Board as a Non-Executive and Independent Director.

Professional Backgrounds

Mrs. Mou Mukherjee

• Extensive experience in finance, accounts, taxation, and administration
• Expertise in strategic business development and foreign trade

Mr. Sourav Daspatnaik

• Engineer and management professional with cross-functional experience
• Proven track record in business building and operational excellence

83rd Annual General Meeting

Hindustan Motors has scheduled its 83rd Annual General Meeting for Wednesday, September 24, 2025. The company has stated that the Notice of AGM along with the full Annual Report will be provided to shareholders in due course.

Board Committee Reconstitution

In light of these new appointments, the Board has also approved the reconstitution of several key committees:

1. Audit Committee
2. Nomination and Remuneration Committee
3. Committee of Independent Directors

These changes reflect Hindustan Motors' commitment to maintaining strong corporate governance practices and adapting its leadership structure to meet current business needs.

The company has duly informed the stock exchanges of these developments, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Hindustan Motors Limited, known for its iconic Ambassador car, continues to evolve its corporate structure as it navigates the changing landscape of the Indian automotive industry. These board-level changes and the upcoming AGM are likely to be of interest to shareholders and industry observers alike.

Hindustan Motors Limited (HM) has reported a net profit of Rs 4.16 crore for the quarter ended June 30, marking a significant turnaround from a loss of Rs 71 lakh in the previous quarter. The company's financial results, approved by its Board of Directors, reveal a total income of Rs 5.11 crore for the quarter, primarily derived from other income.

Financial Performance

The company's other income for the quarter included Rs 3.62 crore from unspent liabilities and provisions no longer required, specifically related to the settlement of Uttarpara Municipal Tax dues. This contributed significantly to the company's profitability for the period.

Operational Changes and Challenges

HM continues to face operational challenges, with the company not having any significant operations for an extended period. The Government of West Bengal has resumed and taken possession of 395 acres of land that comprised the factory at Uttarpara, following legal proceedings that concluded with the Supreme Court dismissing the company's appeal in July.

Despite these challenges, the company's management maintains a 'going concern' basis for its financial statements. HM has been continuously rationalizing costs post the "suspension of work" at the Uttarpara plant, which has been in effect since May 24, 2014.

Financial Position

As of March 31, Hindustan Motors reported:

The company remains debt-free in terms of financial debt, with liabilities mainly on employee accounts, trade payables, and other obligations. The current assets exceed current liabilities, indicating sufficient liquidity to meet its liabilities.

Corporate Governance and Future Plans

In a significant move, the Board of Directors has approved a proposal for voluntary delisting of the company's equity shares from the National Stock Exchange (NSE). However, HM will continue to be listed on the BSE Limited, which has nationwide trading terminals.

Additionally, the Board has decided to reappoint Mr. Om Prakash Gupta as an Independent Director for a second five-year term, subject to shareholder approval at the upcoming Annual General Meeting.

Outlook

Hindustan Motors is actively exploring new avenues for business growth and is seeking new business or technology partners to capitalize on its remaining assets and generate additional revenue. The company's ability to adapt and find new revenue streams will be crucial for its future viability, especially in light of the recent land resumption and ongoing operational challenges.

As Hindustan Motors navigates through these significant changes, stakeholders will be closely watching the company's efforts to revitalize its business model and return to sustainable operations.