Geetanjali Trading and Investments Private Limited, a member of the promoter group of Hitech Corporation Limited , has proposed to acquire all fully paid-up equity shares from public shareholders at an indicative price of INR 353 per share. The acquirer intends to voluntarily delist the equity shares from BSE Limited and National Stock Exchange of India Limited through a delisting offer. The proposal is subject to the SEBI (Delisting of Equity Shares) Regulations, 2021.

The Initial Public Announcement was made on May 25, 2026, by Kreo Capital Private Limited, acting as the manager to the offer. The acquirer, along with other members of the promoter group, aims to purchase equity shares with a face value of INR 10 each. The delisting process will follow the regulatory framework established by the Securities and Exchange Board of India (SEBI).

The rationale for the delisting includes the company's small market cap of Rs. 261.66 Crores and low free float of Rs. 64.46 Crores over the last six months. The acquirer stated that the listed status does not offer meaningful liquidity advantages to public shareholders. The indicative price of INR 353 per share is higher than the lifetime high price of Rs. 351.35 on the exchanges.

As on the date of the announcement, the acquirers hold 1,27,84,480 Equity Shares, aggregating to 74.43% of the paid-up Equity Share capital of the company. The acquirer confirmed that they have not sold any equity shares in the six months prior to the announcement and have firm financial arrangements to fulfill payment obligations.

The voluntary delisting proposal is driven by the acquirer's intention to consolidate ownership and reduce ongoing compliance costs. Public shareholders will have the opportunity to exit their holdings through the reverse book building process. The discovered price will be determined as the price at which shares are accepted through eligible bids, taking the acquirer's shareholding to 90% of the total issued shares.

Hitech Corporation has announced its audited financial results for the quarter and financial year ended March 31, 2026. The Board of Directors, at its meeting held on May 20, 2026, approved the standalone and consolidated financial statements, recommended a dividend, and approved the re-appointment of the Managing Director.

Financial Performance

For the financial year ended March 31, 2026, the company reported a consolidated net profit of ₹1,518.86 lakhs, an increase compared to ₹893.67 lakhs in the previous year. Total income for the year rose to ₹64,467.70 lakhs from ₹56,492.42 lakhs in FY25. On a standalone basis, net profit for the year stood at ₹802.34 lakhs.

In the quarter ended March 31, 2026, the company recorded a consolidated net profit of ₹888.72 lakhs, rebounding from a loss of ₹261.70 lakhs in the preceding quarter ended December 31, 2025. Total income for the quarter was ₹16,891.38 lakhs.

Dividend Declaration

The Board of Directors has recommended a dividend of Re. 1 per equity share, representing 10% of the face value of ₹10 each, for the financial year ended March 31, 2026. This dividend is subject to the approval of shareholders at the ensuing 35th Annual General Meeting.

Board Decisions

On the recommendation of the Nomination and Remuneration Committee, the Board approved the re-appointment of Mr. Malav Dani as Managing Director for a term of five years commencing August 5, 2026, subject to requisite approvals. Additionally, Mr. Jayendra Shah, Non-Executive Non-Independent Director, will retire by rotation at the upcoming Annual General Meeting.

The statutory auditors, M/S KALYANIWALLA & MISTRY LLP, issued an audit report with an unmodified opinion for the standalone and consolidated financial statements. The trading window, which was closed ahead of the results announcement, will reopen 48 hours after the financial results are made public.