Proxy Advisers Back Sameer Hiremath For Hikal CMD, Leadership Continuity Takes Centre Stage

Mumbai: Proxy advisory firms Institutional Investor Advisory Services (IiAS) and Stakeholders Empowerment Services (SES) have recommended that Hikal shareholders approve Sameer Hiremath’s appointment as Chairman and Managing Director, citing his experience and leadership continuity.

The proposal is scheduled to come before shareholders at Hikal’s 38th Annual General Meeting on September 23. Hiremath is proposed to be appointed for five years from October 1, 2026.

Nearly Three Decades With Hikal

SES highlighted Hiremath’s association with Hikal for nearly three decades, pointing to his institutional knowledge, business acumen and long-term strategic perspective.

His responsibilities have spanned strategy, business development, key customer relationships, Research & Technology, manufacturing, operations and industry engagement.

IiAS also highlighted Hiremath’s presence on Hikal’s board since 1999 while assessing the proposed leadership transition.

Leadership Transition Ahead

Jai Hiremath is set to step down as Executive Chairperson from October 1. Following the transition, Sameer Hiremath will become the sole representative of the Hiremath promoter faction serving in an executive capacity.

IiAS said the arrangement would help ensure leadership continuity. It also referred to the Supreme Court’s July 2026 decision to send the wider Kalyani-Hiremath dispute for mediation under retired judge L. Nageswara Rao.

Remuneration Gets Support

IiAS recommended approval of Hiremath’s proposed remuneration, estimated at ₹12.9 million annually, compared with ₹13.4 million in FY26.

The advisory firm said the proposed compensation was within Schedule V limits under the Companies Act and broadly aligned with his previous remuneration. However, it said the company should remain judicious with payouts during his tenure.

Dividend Resolution Backed

Both proxy advisers also supported Hikal’s FY2025-26 dividend resolution, comprising a proposed final dividend of ₹0.40 per share alongside the ₹0.20 interim dividend already paid.

IiAS additionally backed ratification of cost auditor fees while flagging that the audit-trail feature in certain software was not enabled for some privileged-user changes during the year.