Hittco Tools Limited announced multiple corporate decisions following its board meeting held on January 19, 2026, at the company's registered office. The meeting, which commenced at 10:00 AM and concluded at 3:00 PM, addressed several key matters including share allotment, forfeiture, and director appointment.

Preferential Share Allotment Approved

The board approved the issuance and allotment of up to 4,45,000 equity shares on a preferential basis, subject to regulatory and shareholder approvals. The allotment will be conducted in accordance with Chapter V of the SEBI ICDR Regulations and other applicable laws.

The board also considered a valuation report from a registered valuer as part of the preferential allotment process. Additionally, the company cancelled the special resolution passed at the 31st Annual General Meeting held on September 30, 2025, regarding the previous preferential allotment approval.

Share Forfeiture Due to Non-Payment

The board approved the forfeiture of 2,47,600 partly paid equity shares of face value ₹10.00 each due to non-payment of call money as per the terms of issue. The forfeited shares will be cancelled, and the Register of Members will be updated accordingly.

New Independent Director Appointment

Following recommendations from the Nomination and Remuneration Committee, the board appointed Mr. Ranjan Kotekar (DIN: 02964263) as Additional Independent Director effective January 19, 2026. Mr. Kotekar brings over 10 years of management experience and is described as having a positive, inspiring, and experienced personality.

Machinery Rental Agreement

The company entered into a machinery rental agreement with related party Hittco Industries Private Limited for manufacturing equipment to enhance production capacity.

Administrative Appointments

The board appointed M/s Manjeet & Associates, Company Secretary in practice, as Scrutinizer for conducting the postal ballot process in a fair and transparent manner. The company will make necessary disclosures and filings with statutory authorities in compliance with applicable laws for all approved matters.

Hittco Tools Limited has officially communicated to BSE Limited that corporate governance requirements under SEBI (LODR) Regulations, 2015 do not apply to the company for the quarter ended December 31, 2025. The notification, dated January 13, 2026, cites specific financial thresholds that exempt the company from these regulatory obligations.

Regulatory Exemption Criteria

The company's exemption from corporate governance provisions is based on two key financial parameters as specified under Regulation 15(2) of SEBI (LODR) Regulations, 2015:

Since both parameters fall below the prescribed limits, Hittco Tools Limited is not required to comply with corporate governance reporting requirements under Regulation 27(2) of SEBI (LODR) Regulations, 2015.

Corporate Governance Report Waiver

The communication to BSE, signed by Managing Director Surendra Bhandari (DIN: 00727912), formally requests the exchange to take note of the company's exempt status. This exemption means the company will not submit corporate governance reports for the third quarter of fiscal year 2026, maintaining compliance with regulatory provisions while acknowledging its current financial position.

Investor Grievance Status

Cameo Corporate Services Limited, serving as the company's registrar and transfer agent, submitted the investor grievance redressal report for the October-December 2025 quarter. The report indicates a clean record with no investor complaints:

The company maintains its registered office at No-17-C, KIADB Industrial Area, 2nd Phase, Peenya, Bangalore-560058, and operates under CIN: L28939KA1995PLC016888. With BSE scrip code 531661 and ISIN INE863C01019, Hittco Tools Limited continues to fulfill its disclosure obligations while operating within the regulatory framework designed for smaller listed entities.