Hiliks Technologies announced on September 17, 2026, that its promoter, Extros Developers Private Limited, has executed a non-binding Letter of Intent (LOI) to sell a 4.65% equity stake in the company.

The proposed transaction involves the sale of 5,00,000 equity shares to a consortium comprising Enact Technologies Private Limited, Mr. Penumatsa Venkata Raju, and Mr. Venkata Lakshmi Narasimha Swamy Boyapati. The company confirmed that the proposed sellers and acquirers are not classified as related parties as of the date of the intimation.

Transaction Details

The deal is structured as a cash acquisition. The final price per share is yet to be determined and will be mutually negotiated after the completion of due diligence by the involved parties. The indicative timeline for closing the transaction remains undetermined pending these steps.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction is subject to applicable laws, including the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, where relevant. No governmental or regulatory approvals beyond standard compliance requirements were explicitly detailed as pre-conditions in the filing, though the process remains subject to definitive document execution.

Hiliks Technologies reported a 324% year-on-year surge in standalone revenue from operations to ₹29.59 crore for FY26, driven by large-scale railway project execution. Profit after tax rose 81% to ₹0.84 crore. The company also secured a new ₹37.75 crore order for signalling works.

The financial year marked a structural shift towards Railway Signalling & Telecommunications (S&T), which contributed 74% of total revenue. This vertical grew from nil in the previous year to ₹218.92 crore in standalone terms (reported as ₹218.915 thousand in notes, scaled to crore context in highlights). Technology services revenue remained stable at ₹76.96 crore.

Financial Performance

The company’s total income reached ₹296.09 crore, up from ₹69.77 crore in FY25. Despite a sharp increase in expenses to ₹283.91 crore due to material procurement for the 'Railone' project, profitability improved significantly.

Order Book and Business Updates

Subsequent to the financial year-end, Hiliks received an order valued at approximately ₹37.75 crore for signalling and telecommunication works associated with the Motumari-Vishnupuram Doubling Project. With this addition, the cumulative pending order book stands at approximately ₹70 crore.

The company strengthened its capital base during the year, increasing equity share capital from ₹8.82 crore to ₹10.75 crore through the conversion of warrants. It remains debt-free with a net worth of ₹26.65 crore as of March 31, 2026.

Corporate Governance and AGM

The company will hold its 41st Annual General Meeting on September 25, 2026, via video conferencing. Key agenda items include:

• Re-appointment of Mr. Sandeep Copparapu as Whole-Time Director for a three-year term until August 2030.
• Appointment of M/s Jain Alok & Associates as Secretarial Auditor for five years.
• Re-appointment of directors retiring by rotation.

E-voting will be facilitated by Central Depository Services (India) Ltd from September 22 to September 24, 2026. The book closure period is from September 19 to September 25, 2026.

What the Numbers Show

The transition into EPC-scale project execution has materially altered the cost structure. While revenue quadrupled, expenses increased by 348%, primarily due to ₹196.07 crore in material purchases for the Railone project. However, the operating leverage was positive, with PAT growing faster than EBITDA. The debt-free balance sheet provides flexibility to manage the working capital intensity inherent in government infrastructure contracts.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE966Q01010/6b325498-b9f3-425f-bc98-f508e39fd7ee.pdf