Haryana Financial Corporation has appointed Shri Hitesh Kumar Meena, IAS, as an Independent Director on its Board. The Board of Directors approved the appointment during a meeting held on August 12, 2026. This addition to the Board strengthens the corporation’s governance structure with an executive possessing multi-departmental experience in state administration and finance.

The company issued an intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015, to the Listing Compliance Monitoring Team at BSE Ltd. The filing confirms that the appointment was made in compliance with regulatory requirements for independent directors.

Shri Hitesh Kumar Meena brings extensive administrative experience to the Board. He is aged 31 years and holds an M.Tech degree. His current roles include:

• Additional Secretary to Government, Haryana, Finance Department
• Additional Secretary to Government, Haryana, Public Works (B&R) Department
• Additional Chief Executive Officer, Haryana Kisan Kalyan Pradhikaran

The filing states that Shri Hitesh Kumar Meena does not hold any equity shares of the Corporation in his personal capacity. Furthermore, he is not related to any Key Managerial Personnel (KMP) of the Corporation, ensuring independence in his role.

Governance Compliance

The company submitted the brief profile of the newly appointed director in compliance with Regulation 36(3) of the SEBI (LODR) Regulations, 2015. The profile was attached to the intimation sent to the stock exchange. Anu, the Compliance Officer with Membership No. ACS 54872, signed the communication on behalf of the Corporation.

Haryana Financial Corporation reported a net loss of ₹0.40 crore for the quarter ended June 30, 2026, as the entity continues its wind-up process and advances plans to delist from BSE Limited. The State Government of Haryana, acting through Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC), is acquiring the remaining 0.64% public shareholding to facilitate eventual liquidation under Section 45 of the State Financial Corporations Act, 1951.

The Board of Directors approved the unaudited financial results and the Initial Public Announcement (IPA) for the voluntary delisting on August 12, 2026. VC Corporate Advisors Private Limited serves as the Manager to the Delisting Offer, while CS Alok Purohit was appointed as the Peer Reviewed Company Secretary to conduct due diligence in compliance with Regulation 10 of the SEBI (Delisting of Equity Shares) Regulations, 2021.

Q1FY27 Financial Performance

The corporation recorded total income of ₹0.53 crore in Q1FY27, driven entirely by other miscellaneous income of ₹0.53 crore, as income from operations remained at ₹0.00 crore. Total expenditure stood at ₹0.90 crore, primarily comprising staff costs of ₹0.80 crore. This resulted in a pre-tax loss of ₹0.37 crore, which widened to a net loss of ₹0.40 crore after provisioning for NPAs and investments of ₹0.03 crore.

For the full year ended March 31, 2026, the corporation had reported a net profit of ₹7.73 crore. However, quarterly results show consistent losses since then, with Q4FY26 reporting a net loss of ₹0.22 crore. The basic and diluted earnings per share (EPS) for Q1FY27 were negative ₹0.02.

Delisting Progress and Shareholder Exit

The delisting process aims to provide an exit to public shareholders holding 13,19,900 shares, which constitute 0.64% of the total paid-up equity capital of ₹207.66 crore. Promoters hold the remaining 99.36%. The exit price will be determined in consultation with the Manager to the Delisting Offer, ensuring it meets the floor price requirements under Regulation 19A of the Delisting Regulations.

Prem Ravinder & Co., the statutory auditors, issued a limited review report noting that material uncertainties exist regarding the corporation’s ability to continue as a going concern due to the recommended winding up. The corporation has not sanctioned loans or borrowed funds since May 2010, and all outstanding borrowings have been repaid. Current resources are being utilized solely to meet existing commitments and liabilities.

What the Numbers Show

The financial data underscores the non-operational status of harafin , with zero income from core lending activities for three consecutive quarters. The persistent quarterly losses are driven by fixed staff costs that exceed minimal miscellaneous income. With gross NPAs standing at 100% of net loans, the asset quality is effectively dormant, aligning with the strategic decision to liquidate rather than revive operations. The delisting serves as the final procedural step to close the entity’s public listing obligations.