Hitech Corporation Limited, a leading player in the plastic products industry, has announced its financial results for the first quarter ended June 30, 2025, showcasing robust growth and improved profitability.

Strong Revenue Growth

The company reported consolidated revenue of ₹16,490.48 crore for Q1 FY2026, marking a significant increase of 15.6% compared to ₹14,262.04 crore in the corresponding quarter of the previous year. This substantial growth in revenue reflects the company's strong market position and increased demand for its plastic products.

Improved Profitability

Hitech Corporation's consolidated profit after tax (PAT) for the quarter stood at ₹474.79 crore, representing a notable increase of 22.2% from ₹388.57 crore in Q1 FY2025. This improvement in profitability demonstrates the company's effective cost management and operational efficiency.

Financial Highlights

*All figures in ₹ crore, except EPS

Segment Performance

Hitech Corporation continues to focus on plastic products as its primary business segment. The company's strong performance in this segment has contributed significantly to its overall growth.

Earnings Per Share

The consolidated basic earnings per share (EPS) for Q1 FY2026 improved to ₹2.76, compared to ₹2.26 in the same quarter last year, reflecting a growth of 22.1%.

Standalone Performance

On a standalone basis, Hitech Corporation reported revenue of ₹15,282.06 crore and a profit after tax of ₹340.14 crore for Q1 FY2026. The standalone basic EPS stood at ₹1.98.

Board Approval

The Board of Directors of Hitech Corporation Limited approved both the audited standalone and unaudited consolidated financial results during their meeting held on August 8, 2025.

Subsidiaries

Hitech Corporation's subsidiaries, including Thriarr Polymers Private Limited and Hitech Global Inc, have contributed to the company's consolidated performance.

The strong Q1 FY2026 results demonstrate Hitech Corporation's resilience and growth potential in the plastic products industry. With its focus on operational efficiency and market expansion, the company appears well-positioned for continued success in the coming quarters.

Hitech Corporation , a prominent player in the plastic processing industry, has announced a strategic move that may reshape its operational landscape. The company has decided to close its Plastic Processing Machinery Facility (PPMF) business unit located in Gujarat.

Closure Details

The PPMF unit, which has been a part of Hitech Corporation's diverse portfolio, is set to cease operations. This decision comes as part of the company's ongoing efforts to streamline its business operations and focus on core competencies.

Limited Impact on Overall Operations

In a statement released by the company, Hitech Corporation has assured stakeholders that the closure of the PPMF unit is not expected to have a significant impact on its overall operations. This suggests that the unit may have been a relatively small contributor to the company's total revenue or that the company has plans in place to mitigate any potential losses.

Strategic Implications

While the company has not disclosed the specific reasons behind this decision, such moves are often part of broader strategic initiatives. These can include:

• Consolidation of manufacturing facilities
• Reallocation of resources to more profitable business segments
• Adaptation to changing market demands or technological advancements

Looking Ahead

As Hitech Corporation moves forward with this decision, investors and industry observers will be keen to see how the company realigns its resources and what this means for its future growth strategy. The closure of the PPMF unit may open up opportunities for the company to invest in other areas of its business or explore new ventures.

It's important to note that while this development is significant for the company's operations in Gujarat, Hitech Corporation maintains that its overall business trajectory remains stable. Stakeholders will likely look forward to more detailed communications from the company regarding the timeline of the closure and any potential impact on employment in the region.

Investors are advised to monitor future announcements and financial reports from Hitech Corporation to fully understand the implications of this strategic decision on the company's long-term performance and market position.