HMA Agro Industries Limited Approves Divestment of Wholly Owned Subsidiaries FNS and Laal Agro
HMA Agro Industries Limited announced that its Board of Directors, during a meeting held on April 25, 2026, approved the divestment of its entire equity stake held in its two wholly owned subsidiaries: FNS Agro Foods Limited and Laal Agro Food Private Limited.The Company intends to divest its shareholding in both entities to identified acquirers, subject to the execution of definitive agreements and completion of customary conditions precedent. Consequent to the proposed transaction, both FNS and Laal will cease to be subsidiaries of HMA Agro Industries Limited.
The proposed divestment is being executed on an arm's length basis, and the transaction is classified as a related party transaction.
Divestment Details and Subsidiary Profiles
The Board of Directors has approved the proposed divestment to a collective group of buyers identified as: Mr. Gulzar Ahmad, Mohammad Ashraf Qureshi, Mohammad Mehmood Qureshi, Mohammad Kamil Qureshi, Wajid Ahmed or Gulzeb Ahmed, Mr. Parvez Alam, and Zulfiqar Ahmad Qureshi. These individuals are noted as forming part of the promoter/promoter group of the holding company.The projected timeline for the sale indicates that the consideration for the proposed transaction, which will be determined based on a valuation report from a registered valuer, is expected to be finalized by May 30, 2025.
Financial Overview of Subsidiaries
The following tables detail the financial contribution and transaction particulars for the two subsidiaries undergoing divestment.FNS Agro Foods Limited (FNS)
| Particulars | Detail | Amount (in Million) | Percentage of Turnover |
|---|---|---|---|
| Shares Held | 8,95,593 equity shares of face value of ₹10/- each | ||
| Turnover (Last Financial Year) | Nil | Nil | 0% |
| Net Worth (Last Financial Year) | As per audited financial statements as on 31st March 2025 | 50.71 | 0.64% |
| Expected Completion of Sale | By May 30, 2025 | ||
| Buyers | Mr. Gulzar Ahmad, Mohammad Ashraf Qureshi, Mohammad Mehmood Qureshi, Mohammad Kamil Qureshi, Wajid Ahmed or Gulzeb Ahmed, Mr. Parvez Alam, Zulfiqar Ahmad Qureshi |
Laal Agro Food Private Limited (Laal)
| Particulars | Detail | Amount (in Million) | Percentage of Turnover |
|---|---|---|---|
| Shares Held | 9,999 equity shares of face value of ₹10/- each | ||
| Turnover (Last Financial Year) | Nil | Nil | 0% |
| Net Worth (Last Financial Year) | As per audited financial statements as on 31st March 2025 | 11.41 | 0.14% |
| Expected Completion of Sale | By May 30, 2025 | ||
| Buyers | Mr. Gulzar Ahmad, Mohammad Kamil Qureshi |
The Company stated that the divestment transaction does not constitute sale, lease, or disposal of an undertaking within the meaning of Section 180(1)(a) of the Companies Act, 2013.
HMAAGRO Stock Price Movement
On Monday, HMA Agro Industries Limited shares edged higher, settling at ₹24.42 after gaining 2.09%. The stock closed on significant momentum, having traded on a volume of 344,748 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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