Hilltone Software & Gases Limited has appointed Parinda Mohanbhai Patel as its Chief Financial Officer, effective August 1, 2026, while simultaneously accepting the resignation of Independent Director Dipika Modi. The changes were approved during a Board meeting held on July 30, 2026, at the company’s registered office in Mehsana. Alongside these leadership shifts, the Board reviewed operational updates, highlighting imminent production starts and recent order inflows across its Gas, Engineering, and Software divisions.

The appointment of Ms. Patel follows a recommendation from the Nomination and Remuneration Committee. She brings experience from Angel Broking Pvt. Ltd and The Gujarat Co-op Credit Society Ltd., where she served as a Banking Officer for six years. Her background includes an MBA from Gujarat Technological University and a Bachelor of Commerce from Gujarat University. Concurrently, the Board accepted Ms. Modi’s resignation, which takes effect at the close of business hours on July 31, 2026. Consequently, she will cease to be a member or chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.

Ms. Modi cited personal reasons and other professional commitments for her departure. In her resignation letter dated July 30, 2026, she confirmed that there are no material reasons for her resignation other than those stated. The company disclosed that there are no relationships between directors regarding this appointment or cessation, as required under SEBI regulations.

During the meeting, the Chairman and Managing Director provided an update on the company’s operational status. The Gas Division is set to commence production of Argon, Carbon Dioxide, and Oxygen Plant Tanks within one month. Additionally, the company reported trading activity and new purchase orders across its segments.

The Board meeting commenced at 3:30 P.M. and concluded at 5:15 P.M. The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Circular dated July 13, 2023. The company secretary, Hinisha Patel (Membership No: A59842), signed off on the communication to BSE Limited.

Leadership Changes

Parinda Mohanbhai Patel assumes the role of CFO with immediate effect from August 1, 2026. Her profile indicates expertise in Finance, Accounting, Taxation, and Audit. Prior to joining Hilltone, she worked as a senior executive at Angel Broking Pvt. Ltd for one year. Her six-year tenure as a Banking Officer at The Gujarat Co-op Credit Society Ltd. further solidifies her financial domain knowledge.

Dipika Modi (DIN: 11269866) steps down as Independent Director. Her exit reduces the independent representation on key board committees. The company stated that statutory filings under the Companies Act, 2013, will be completed as per requirements.

Operational Update

The operational review highlighted near-term revenue drivers. The Gas Division’s upcoming tank production line aims to expand capacity for industrial gases. The Engineering Division’s new purchase order of ₹26.86 Lacs adds to its order book, while the Software Division closed sale orders worth ₹23.5 Lacs in the current financial year. These figures reflect ongoing business momentum across diverse verticals.

Hital Shah, Whole Time Director of Hilltone Software and Gas , acquired 1,000 equity shares on June 8, 2026, increasing his stake in the company. The transaction represents 0.0079% of the equity share capital and was executed through a market purchase on the BSE. The total value of the transaction was ₹47,325.

The disclosure was submitted to the stock exchange on June 9, 2026, in compliance with Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. Hinisha Patel, Company Secretary & Compliance Officer, confirmed the filing.

Prior to this acquisition, Shah held 671,500 shares, constituting 5.10% of the company's shareholding. Following the purchase, his total holding has increased to 672,500 shares, which represents 5.10% of the equity share capital. The shares were traded under the script code 544308 on the BSE.

Transaction Details