Hikal shareholders to vote on Sameer Hiremath’s elevation amid family ownership dispute
At Hikal’s AGM on September 23, shareholders will vote on Sameer Hiremath’s five-year term as CMD. The Hiremath and Kalyani sides hold nearly identical 34% stakes, while proxy advisers are split over the move.
Hikal Ltd shareholders will vote on September 23 to appoint Sameer Hiremath as chairman and managing director for a five-year term starting October 1. This appointment adds to the ongoing family ownership dispute between the Hiremath and Kalyani families. The Hiremath family holds nearly 35% of Hikal, while the Kalyani and BF Investment sides hold about 34%.
Proxy advisers have taken opposing stances on Hiremath's elevation, with InGovern recommending against the appointment and IiAS and SES recommending support. Hikal is a pharmaceuticals and crop protection contract development and manufacturing company with equal stakes between the two families, making the voting outcome potentially significant.
The leadership transition follows a challenging financial year for Hikal, which reported a net loss of Rs 49 crore in FY26 compared to a profit of Rs 91 crore the previous year.
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