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.

The Board of Directors of Hitech Corporation , at its meeting held on May 08, 2026, approved a comprehensive set of leadership changes spanning new appointments, a senior-level promotion, a director induction, a term cessation, and a resignation. The disclosures were made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 04:00 p.m. and concluded at 6:30 p.m.

Summary of Leadership Changes

The board acted on recommendations from the Nomination and Remuneration Committee and the Audit Committee to effect the following changes across the company and its wholly owned subsidiary:

*Subject to shareholder approval

New CFO Appointment: Mrs. Mugdha Khare

Mrs. Mugdha Amol Khare has been appointed as Chief Financial Officer and Key Managerial Personnel of Hitech Corporation with effect from May 08, 2026. A qualified Chartered Accountant and Company Secretary with a Bachelor of Commerce from Mumbai University, she brings over 16 years of experience across treasury, taxation, forex, banking, audit, MIS, investor relations, risk assessment, and strategic business initiatives.

Her career spans leading organisations including BSR & Co. (affiliate to KPMG), Bhuta Shah & Co., NOCIL Limited, and most recently Astec Life Sciences Limited, where she serves as Chief Financial Officer since August 2024. At NOCIL, where she served as Deputy General Manager for over a decade, she managed a corporate treasury of INR 4,500–5,000 million, handled a borrowing book of INR 5,500 million, and oversaw forex exposure of INR 7,000–7,500 million through forward and option contracts. She was rated "Excellent" five times and promoted four times during her 11-year tenure.

Independent Director Induction: Mr. Mehli Golvala

Mr. Mehli M. Golvala (DIN: 02234105) has been appointed as an Additional Director in the Non-Executive Independent category for a term of 5 years from May 08, 2026 to May 07, 2031, subject to shareholder approval. A Fellow Member of the ICAI with over 40 years of experience in taxation laws, Mr. Golvala previously served as Managing Partner and Senior Tax Partner at Kalyaniwalla & Mistry LLP. He specialises in tax advisory and litigation across manufacturing, real estate, shipping, and financial services sectors for both domestic and multinational corporations.

Mr. Golvala currently serves as an Independent Director on the Board of Geetanjali Trading and Investments Private Limited, the holding company. The company has confirmed that he is not related to any Director, Key Managerial Personnel, or member of the Promoter/Promoter Group, and has not been debarred from holding directorial office by SEBI or any other authority.

Senior Management Appointments and Promotion

Mr. Girish Haganoor has been appointed as President of Thriarr Polymers Private Limited, the wholly owned subsidiary, effective May 07, 2026. A seasoned executive with over 30 years of experience in the automotive, aerospace, and mass transit sectors, he holds a B.E. in Mechanical Engineering and an M.S. in Manufacturing Management from BITS Pilani. He was most recently Head of Engineering & Project Management at Tata AutoComp Systems Ltd. since 2005, and was conferred the MD Award in 2020 for securing a significant business win from Alstom. In his new role, he will oversee Operations, Sales & Marketing, and Projects, reporting to Mr. Malav Dani, Board Member.

Mr. Ravi G. Balasubramanian, previously Vice President – Manufacturing, has been elevated to President and Senior Management Personnel of the company effective May 08, 2026. With over 4 decades in the plastics and polymer sector, he holds a B.Tech in Plastics Technology from ICT, Mumbai and an M.S. in Manufacturing Management from BITS Pilani. His responsibilities will span Supply Chain covering Operations & Maintenance, Procurement, Quality & Technical Support, and Sales & Marketing.

Exits: Cessation and Resignation

Mr. Bomi Chinoy (DIN: 07519315) will cease as Non-Executive Independent Director upon completion of his second term of 5 years, effective from the close of business hours on May 22, 2026. Separately, Mr. Jasraj Singh has resigned from the position of Chief Operating Officer on health grounds, and will be relieved from the services of the company with effect from the close of business hours on May 15, 2026. In his resignation letter dated May 5, 2026, Mr. Singh cited the need to prioritise his well-being and personal responsibilities, and confirmed his commitment to ensuring a smooth handover to his successor.

All disclosures have been made in accordance with Regulation 30 read with Clause 7 of Part A of Schedule III of the Listing Regulations, and are available on the company's website at www.hitechcorporation.co .