Hittco Tools Limited , a Bangalore-based company, has announced the forfeiture of 2,47,600 equity shares due to non-payment of call money. This decision was approved by the company's Board of Directors during a meeting held on November 14, 2025.

Key Details of the Forfeiture

The forfeiture action affects partly paid-up equity shares with a face value of ₹10 each. Shareholders failed to pay the balance allotment money of ₹5 per share, despite receiving repeated reminders and a final notice from the company.

Affected Shareholders

The forfeited shares belonged to two entities:

Regulatory Compliance

Hittco Tools Limited has stated that the forfeiture process was carried out in accordance with the applicable provisions of the Companies Act, 2013, relevant Rules, and the company's Articles of Association. The action also complies with SEBI (LODR) Regulations, following standard procedures for reporting outcomes to the stock exchange.

Impact on Share Capital

Following the forfeiture, the company plans to update its Register of Members and corporate records accordingly. This action may affect the company's paid-up share capital, potentially reducing it by the number of forfeited shares.

Financial Performance Context

In its recent financial results, Hittco Tools Limited reported a loss for the quarter ended September 30, 2025. The company posted a net loss of ₹24.55 lakh, compared to a loss of ₹29.06 lakh in the corresponding quarter of the previous year.

Conclusion

The forfeiture of equity shares underscores the importance of timely payment of call money by shareholders. It also highlights the company's commitment to maintaining proper capital structure and compliance with regulatory requirements. Investors and stakeholders may want to monitor how this action could impact Hittco Tools Limited's financial position and future capital raising activities.

Hittco Tools Limited , a cutting tools manufacturer, has reported its financial results for the second quarter of fiscal year 2026, along with significant operational changes. The company faced challenges in the quarter ended September 30, 2025, as it navigated through a period of reduced revenue and continued losses.

Financial Performance

Hittco Tools posted a net loss of Rs 24.55 lakh for Q2 FY2026, showing an improvement from the loss of Rs 48.83 lakh in the corresponding quarter of the previous year. However, the company's revenue saw a substantial decline:

The significant drop in revenue by 45.03% year-over-year indicates challenging market conditions for the company's cutting tools business.

Operational Updates

In a notable development, Hittco Tools has shifted its registered office and factory premises to a new location. The company is now operating from:

No. 17-C, KIADB Industrial Area, 2nd Phase, Peenya, Bangalore-560058

This relocation may be part of the company's efforts to streamline operations and potentially reduce costs in the face of financial pressures.

Balance Sheet Highlights

As of September 30, 2025, Hittco Tools reported:

The company's balance sheet reflects a debt-to-equity ratio of approximately 1.86, indicating a significant reliance on debt financing.

Board Actions

In its board meeting held on November 14, 2025, Hittco Tools took several important decisions:

1. Approval of the unaudited standalone financial results for Q2 FY2026.
2. Forfeiture of 2,47,600 partly paid-up equity shares due to non-payment of the balance allotment money by shareholders.

Looking Ahead

While Hittco Tools has managed to reduce its losses compared to the previous year, the substantial decline in revenue presents ongoing challenges. The company's strategic decisions, including the relocation of its operations and the forfeiture of shares, may be aimed at improving its financial position and operational efficiency.

Investors and stakeholders will be watching closely to see if these measures, along with any potential market improvements, can help Hittco Tools return to profitability in the coming quarters.