Hitech Corporation News

Hitech Corporation Seeks Shareholder Approval for Director Re-appointment

Hitech Corporation Limited has issued a postal ballot notice seeking shareholder approval for the re-appointment of Mr. Mehernosh Mehta as Whole Time Director for one year from March 17, 2026 to March 16, 2027.

Hitech Corporation Board Meet Set for Feb 10, 2026

Hitech Corporation Limited has scheduled a board meeting on February 10, 2026, to consider and approve audited standalone and consolidated financial results for Q3FY26 ended December 31, 2025.

Hitech Corporation Reports Mixed Q2 Results with Profit Decline and Leadership Extensions

Hitech Corporation Limited announced its quarterly results for the second quarter and half year ended September 30, 2025. The company reported a standalone net profit of ₹150.98 lakhs for Q2 2025, down from ₹292.35 lakhs in Q2 2024. For the half year, standalone profit increased to ₹491.20 lakhs from ₹697.05 lakhs in the previous year. Total income for Q2 stood at ₹1,844.72 lakhs compared to ₹1,687.72 lakhs last year. On a consolidated basis, Q2 net profit was ₹418.38 lakhs versus ₹294.31 lakhs in Q2 2024. The Board approved term extensions for three key personnel: Mr. Raghavendra Prasad (General Manager-HR) for two years from March 13, 2025, Mr. V.S.R. Anjaneyulu (Vice President-Technology Center) for one year from September 6, 2025, and Mr. Mehernosh Mehta (Whole-Time Director) beyond his internal retirement age of 58 years until March 16, 2026. The company operates in plastic products as its primary business segment.

Hitech Corporation Faces Rs 1.85 Crore Stamp Duty Demand from Gujarat Authority

Hitech Corporation Limited received an order from the Collector and Additional Superintendent of Stamps, Gandhinagar, demanding stamp duty of Rs 26.49 lakh and a fine of Rs 1.59 crore related to a slump sale agreement from 2006. The demand pertains to moveable and immoveable properties transferred through a slump sale agreement between Mipak Plastics Private Limited and Mipak Polymers Private Limited dated May 30, 2006. These entities later merged with Hitech Corporation through court-approved amalgamation schemes in 2010 and 2015. The company had previously paid stamp duty of Rs 5.82 lakh to Maharashtra State Stamp Authority for the same transaction. Hitech Corporation stated there is no material impact on its financial, operational, or other activities and plans to file an appeal against the order within prescribed timelines.