Hi-Green Carbon Limited has notified the National Stock Exchange of India under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that a significant operational milestone has been achieved at its wholly owned subsidiary's manufacturing facility in Madhya Pradesh. The intimation, dated May 12, 2026, was filed by Managing Director & CFO Amitkumar H. Bhalodi.

Plant Installation Milestone at Dhar Facility

The installation and erection of plant and machinery at the 100 Tonne per Day (TPD) capacity plant of Shantol Recycling Private Limited—a wholly owned subsidiary of Hi-Green Carbon—has been completed. The facility is situated in the Dhar District of Madhya Pradesh. According to the regulatory filing, the installation work was completed last week, marking a key step in the subsidiary's operational readiness.

The following table summarises the key details of this development:

Trial Run and Regulatory Approvals

Following the completion of installation, a trial run of the plant is scheduled to commence from May 13, 2026. However, the commencement of full commercial operations at the Dhar plant is subject to the receipt of the 'Consent to Operate' from the Madhya Pradesh Pollution Control Board (MPPCB). The company has confirmed that the application for this approval has already been submitted to the MPPCB.

The regulatory clearance from MPPCB remains a prerequisite before the plant can transition from trial operations to full-scale commercial production. Hi-Green Carbon has not indicated a specific timeline for the receipt of this approval in its filing.

Regulatory Disclosure

The intimation was submitted to the National Stock Exchange of India Ltd. in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to disclose material developments to the exchanges in a timely manner. The filing was signed by Amitkumar H. Bhalodi, Managing Director & CFO of Hi-Green Carbon Limited (DIN: 00410150), on May 12, 2026.

Hi-Green Carbon Limited has announced the appointment of new statutory auditors following a Board meeting held on May 08, 2026. The Board approved the engagement of M/s. JPMK & Associates as Secretarial Auditors and M/s. P.N. Rangani & Associates as Internal Auditors. These appointments are effective immediately and cover the financial years 2025-26 and 2026-27. The disclosures were made to the National Stock Exchange of India Ltd. in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Appointment Details

The Board of Directors met at the company's registered office on May 08, 2026, to finalise these appointments. The meeting commenced at 05:00 p.m. and concluded at 05:40 p.m. The primary agenda items included the selection of auditors to ensure compliance with corporate governance standards. The following table summarises the key details of both appointments:

Secretarial Auditor Profile

M/s. JPMK & Associates, a firm of Practicing Company Secretaries based in Rajkot, has been appointed to conduct the secretarial audit. The firm was established on January 1, 2013, and is currently led by partners CS Piyush Jethva (FCS 6377) and CS Nirav Vekariya (FCS 11660). The firm holds a Peer Review Certificate and specialises in corporate laws, secretarial compliance, and corporate governance. Their services also include IPO advisory, mergers and takeovers, and representation before regulatory authorities.

Internal Auditor Profile

M/s. P.N. Rangani & Associates, Chartered Accountants, has been appointed as the Internal Auditor for a two-year term. The firm, established in 2019, is led by proprietor CA Pintu N. Rangani. Located in Rajkot, the firm offers a wide range of services including statutory audit, tax audit, internal audit, and management audit. Their practice areas also cover taxation matters such as Income Tax and GST, as well as consultancy services for corporate compliances and tax planning.

The company confirmed that there is no relationship between the directors of Hi-Green Carbon Limited and the newly appointed auditor firms. The appointments are aimed at strengthening the company's internal control and compliance framework for the specified financial years.