Hi-tech gears has updated stock exchanges regarding the postponement of its National Company Law Appellate Tribunal (NCLAT) hearing on the Corporate Insolvency Resolution Process. The hearing, originally scheduled for February 18, 2026, has been rescheduled to April 20, 2026, due to time constraints at the tribunal.

NCLAT Hearing Details

The NCLAT Principal Bench in New Delhi was unable to hear the matter on the scheduled date of February 18, 2026, citing paucity of time as the reason for postponement. The tribunal has fixed the next hearing date for April 20, 2026, in the case involving Company Secretary and shareholder Naveen Jain as the appellant against Happy Forgings Ltd. and another respondent.

Interim Stay Continuation

The NCLAT has directed the continuation of the interim stay on the Corporate Insolvency Resolution Process (CIRP) that was originally granted through its order dated September 03, 2024. This interim relief remains in effect until the next hearing date, providing temporary protection to the company from the insolvency proceedings.

Legal Representation

The appellant is represented by a team of legal experts including Ms. Pooja M. Saigal as Senior Advocate, along with Mr. Ajay Bhargava, Ms. Wamika Trehan, and Mr. Varun Chopra as Advocates. The first respondent, Happy Forgings Ltd., is represented by Dr. Rajansh Thukral, Ms. Surekha Thukral, Mr. Sidharth Thukral, and Mr. Rajan Thukral.

Company Communication

The company communicated this development to both the National Stock Exchange of India Limited and BSE Limited on February 21, 2026, through a formal intimation signed by Company Secretary and Compliance Officer Naveen Jain. The communication referenced the previous intimation dated December 18, 2025, regarding the NCLAT order passed on December 16, 2025, which had continued the interim stay and fixed the February 18, 2026 hearing date.

The company has attached a copy of the NCLAT order uploaded on the tribunal's website on February 21, 2026, for the stock exchanges' records and requested them to take note of this information.

Hi-Tech Gears Limited has released its comprehensive earnings presentation for the third quarter and nine months ended December 31, 2025, following the publication of its unaudited consolidated financial results. The company informed stock exchanges on February 17, 2026, about the earnings presentation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Q3 FY26 Consolidated Performance Highlights

The company's Q3 FY26 performance showed mixed results with revenue growth but declining profitability metrics across key parameters.

For the quarter ended December 31, 2025, the company reported operational income of ₹2,235 million, representing a 9.0% increase from ₹2,051 million in the corresponding quarter of the previous year. However, profitability metrics declined significantly with net profit after tax falling to ₹9 million compared to ₹69 million in Q3 FY25.

Nine-Month Performance Analysis

The nine-month consolidated performance reflected similar trends with revenue decline and compressed margins.

Standalone Financial Performance

The standalone operations showed better resilience compared to consolidated performance, with Q3 FY26 operational income of ₹1,603 million representing 10.1% YoY growth.

Business Operations and Strategic Initiatives

The company continues its consolidation phase with focus on improving operational efficiency. Key operational highlights include refurbishment of 45% of high-value machines in the machine shop till December 2025, with expected completion around Q2 FY26-27. The company has also strengthened its workforce in critical areas and reduced contractual manpower mix by 20% through addition of apprentices and permanent employees.

Domestic demand improved in Q3 FY26, supported by higher demand in premium motorcycles and scooters across both EV and ICE segments. However, export revenues declined due to uncertain geo-political operating environment in North America.

New Business Wins and Market Expansion

The company reported significant new business wins totaling ₹1,172 million annualized for 9M FY25-26, including ₹860 million from current customers and ₹312 million from new customers. The company has expanded its presence in higher CC bikes (>350 CC) and entered the Indian Passenger Car SUV segment with Mahindra & Mahindra.

Regulatory Compliance and Publication

The unaudited consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors on February 12, 2026. The results were published in The Business Standard newspapers on February 14, 2026, and are available on stock exchange websites and the company's website at www.thehitechgears.com .

The company, headquartered in Gurugram, Haryana, operates manufacturing facilities across India, Canada, and the USA, serving diverse automotive segments including two-wheelers, passenger vehicles, and commercial vehicles with 39 years of experience in precision gear manufacturing.