Hitech Corporation Limited has published the notice for its postal ballot and remote e-voting process in newspapers, including The Business Standard and Mumbai Lakshadeep, on June 11, 2026. The company seeks shareholder approval for the voluntary delisting of its equity shares from BSE Limited and National Stock Exchange of India Limited. The delisting proposal, backed by promoter group entity Geetanjali Trading and Investments Private Limited, offers an indicative price of ₹353 per equity share, a 40.08% premium over the floor price of ₹252 per share.

The Board approved the proposal on June 9, 2026, based on a due diligence report and share capital audit report. The acquirer currently holds 74.43% of the total paid-up equity share capital and intends to acquire the remaining 25.57% held by public shareholders. Shareholders whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date, Friday, June 5, 2026, are entitled to vote. The delisting requires a special resolution where votes cast by public shareholders in favor must be at least two times the votes cast against it.

Remote e-voting commences on June 11, 2026, at 9:00 a.m. and concludes on July 10, 2026, at 5:00 p.m. M/s. Mayank Arora, Practising Company Secretaries, has been appointed as the scrutinizer. The results are scheduled to be declared on or before July 14, 2026. The notice also includes resolutions for the re-appointment of Mr. Malav Dani as Managing Director for five years from August 5, 2026, and the appointment of Mr. Mehli Golvala as an Independent Non-Executive Director for five years effective from May 8, 2026.

Mr. Dani’s proposed remuneration is ₹63,00,000 per annum, excluding perquisites and commission. The Postal Ballot Notice is available on the company's website and the websites of NSDL, BSE, and NSE.

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.