Hirect Limited (formerly Hind Rectifiers Limited) reported a standalone net profit of ₹150.91 million for Q1FY26, up from ₹128.13 million in the same quarter last year, while revenue from operations grew to ₹2,363.92 million from ₹2,147.74 million. The Board of Directors, meeting on August 11, 2026, also approved the company’s name change to Hirect Limited, effective July 24, 2026, and made significant leadership changes including the appointment of Chidambaram Balakrishnan as Global Chief Executive Officer.

Q1FY26 Financial Performance

The company’s consolidated net profit stood at ₹65.01 million for the quarter, compared to a loss of ₹15.89 million in Q4FY26 and a profit of ₹127.65 million in Q1FY25. Consolidated revenue from operations increased to ₹2,584.48 million from ₹2,147.74 million year-on-year. The improvement in consolidated profitability was driven by higher revenues and operational efficiencies, despite a net loss attributable to non-controlling interests of ₹29.21 million.

Standalone EBITDA margin contracted to 10.6% from 11.3% in the previous year, indicating that operating expenses grew at a faster pace than revenue. However, the absolute EBITDA figure rose modestly, supporting the growth in net profit. The segment results highlight that the Engineering Products segment contributed ₹276.76 million to the standalone segment profit, while the new CTC/PICC/EPICC segment generated ₹12.84 million in its first quarter of reporting as a separate operating unit.

Leadership Changes and Governance

The Board appointed Rahul Rai as an Additional Director (Non-Executive Independent Director) for a five-year term starting August 11, 2026. Rai, an alumnus of IIT (BHU) Varanasi and IIM Ahmedabad, brings over 20 years of global executive experience. Additionally, Anil Kumar Nemani was appointed as an Additional Director and Whole-Time Director, designated as Executive Director and Chief Financial Officer, for a three-year term. Nemani has been with the company since 1992 and holds qualifications in B.Com, Chartered Accountancy, and Cost & Management Accounts.

In a significant leadership shift, Chidambaram Balakrishnan was appointed as Global Chief Executive Officer and Senior Management Personnel, replacing Douglas J. Bailey who resigned effective August 11, 2026. Balakrishnan brings over three decades of experience, including roles as Managing Director at Caterpillar Rail and Regional Director at GE Transportation.

What the Numbers Show

The divergence between standalone and consolidated results warrants attention. While the standalone entity reported a healthy net profit of ₹150.91 million, the consolidated result was significantly lower at ₹65.01 million. This gap is primarily due to the performance of subsidiaries, particularly Elventive France, which reported a net loss after tax of ₹85.91 million for the quarter. The inclusion of Elventive France in the consolidated figures from September 2025 onwards impacts comparability with the prior year, where such losses were not present. Investors should monitor the integration and performance trajectory of international subsidiaries as they become a larger part of the group’s financial profile.

Hind Rectifiers Limited , now operating as Hirect Limited, will host an earnings conference call on August 12, 2026, at 10:30 AM IST. The virtual meeting is scheduled to discuss the company's financial and operational performance for Q1FY27. This disclosure ensures transparency for investors regarding the firm's latest quarterly results under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company notified the BSE Limited and National Stock Exchange of India Limited of the schedule on August 6, 2026. The interaction will be conducted via a virtual group call. Management has clarified that discussions will be based solely on publicly available information. No unpublished price-sensitive information (UPSI) is intended to be discussed during the interactions.

Key Participants

Senior leadership will address analysts and institutional investors during the call. The participant list includes:

Dial-In Details

Investors are requested to pre-register for the call using the provided link in the original notice. For those joining via telephone, the following access numbers have been provided:

The Company Secretary & Compliance Officer, Suhas Pawar, signed the intimation. The company noted that changes to the schedule may occur due to exigencies on the part of participants or the company.