Sameer Hiremath secured 52% of the votes, breaking down 44% from the Hiremath family and 8% from public shareholders for, versus 43% from the Kalyani family and 5% from public shareholders against. The close 52‑48 split shows how public investors tipped the balance in a battle that has rattled the market.
A long‑running dispute over shared assets between the Hiremaths and Kalyanis has been mediated by a former Supreme Court judge, but the latest vote has stalled any chance of a quick settlement. The feud centers on control of Hikal’s shareholdings and subsidiaries, and the two families have avoided any public moves that might worsen tensions.
With Hiremath’s appointment, he becomes the only family member on Hikal’s board, while his father, chairman Jai Hiremath, and mother, non‑executive director Sugandha Hiremath, will resign on Oct 1. This change is expected to streamline decision‑making but also consolidate the family’s influence over the company’s strategy.
The Kalyani camp also rejected Hikal’s FY26 financial statements, Sarangan Suresh’s reappointment as executive director, and the auditors’ remuneration. Only the FY26 dividend received their support, a move that surprised observers who thought the accounts would pass quietly.
The board will convene next month to discuss the dividend payout and the implications of the new leadership. Investors are watching closely as the company navigates this leadership shift amid a broader corporate governance debate.