Hirect Limited has initiated a postal ballot process to seek shareholder approval for key board appointments and an extension to its capital deployment timeline. The voting window opens on September 4, 2026, and closes on October 3, 2026.

The company is seeking consent for four resolutions, including the appointment of Mr. Rahul Rai as an Independent Director and Mr. Anil Kumar Nemani as Whole-Time Director and Chief Financial Officer. Additionally, shareholders will decide on extending the deadline for utilizing funds from a recent preferential issue.

Board Appointments

Mr. Rahul Rai (DIN: 10651078) is proposed for appointment as an Independent Director for a five-year term commencing August 11, 2026. An alumnus of IIT Varanasi and IIM Ahmedabad, Mr. Rai brings over two decades of global executive experience. He previously served as Global Chief Commercial Officer at ECU Worldwide and Business CEO at Allcargo Logistics. He will receive sitting fees and expense reimbursements within statutory limits.

Mr. Anil Kumar Nemani (DIN: 05210724) is proposed for appointment as a Director liable to retire by rotation, and subsequently as Whole-Time Director designated as Executive Director and CFO. His three-year term begins on August 11, 2026. Mr. Nemani, a Chartered Accountant with over 42 years of experience, has served the company since 1992.

Remuneration Structure

The proposed remuneration for Mr. Nemani includes fixed salary, allowances, variable pay, and stock options. The Board has been authorized to vary his remuneration up to a ceiling of ₹3.5 crore in any financial year.

In the event of inadequate profits, Mr. Nemani is entitled to minimum remuneration comprising the specified salary, allowances, and benefits.

Fund Utilization Timeline Extension

Shareholders are also asked to approve an extension for utilizing funds raised through equity warrants in a preferential issue approved on August 28, 2025. The total estimated amount involved is ₹27.36 crore, assuming 100% warrant conversion.

The timeline for procuring machinery in the initial phase has been extended from March 31, 2026, to December 31, 2026. This adjustment accounts for business requirements and market conditions. The remaining 75% of funds, earmarked for land, buildings, or additional machinery, retains its original deadline of December 31, 2027.

What the Numbers Show

The financial data disclosed in Annexure B indicates that Hirect Limited reported a total income of ₹950.18 crore for FY26, up from ₹656.85 crore in FY25. Net profit rose to ₹57.67 crore in FY26 compared to ₹37.27 crore in the prior year. This growth trajectory coincides with the company’s push to expand manufacturing capabilities via the preferential issue proceeds, suggesting capital expenditure is being aligned with revenue expansion needs.

Voting Process

The postal ballot notice was sent electronically to members registered as on August 28, 2026. Remote e-voting is facilitated by National Securities Depository Limited (NSDL). Results will be announced on or before October 5, 2026.

Hind Rectifiers has credited a dividend of ₹1.40 per equity share to its shareholders on August 13, 2026. The payout follows approval by the company’s members at the 68th Annual General Meeting held on Tuesday, August 11, 2026.

The dividend was disbursed through electronic modes, including NACH, NECS, and Direct Remittance, into the bank accounts of shareholders whose details were available with the company. This ensures timely receipt for those with registered banking information.

Shareholder Instructions

Shareholders holding dematerialized shares whose bank account details are not available with the Depositories are requested to update their information. Similarly, holders of physical shares must ensure their bank details are updated with the Registrar and Transfer Agent. These steps are necessary to ensure smooth receipt of future dividends.

Corporate Governance

The intimation regarding the dispatch of the dividend was issued to the BSE Limited and the National Stock Exchange of India Limited on August 17, 2026. Suhas Pawar, Company Secretary & Compliance Officer of Hind Rectifiers Ltd (formerly known as Hirect Limited), signed the communication.