Hirect: Global CEO Bailey resigns, Balakrishnan named successor

Ceo ResignedCeo Appointed ExternalKmp ResignedManagement Changes View source PDF Explain this filing

HIRECT · price

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Price reactionminutes from the announcement price · days from the prior close

-5.7%Reaction day

₹1295.50

prior close

₹1223.70

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.2%-5.5% vs market

Industrial Products peers, median of 131sector-0.3%-5.3% vs sector

On the reaction day the stock moved 5.5 pts less than Nifty Microcap 250 and 5.3 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-5.7-0.2-5.5-0.3-5.3

Next day

-3.0+0.2-3.2-0.5-2.6

-4.1+0.4-4.5-0.5-3.7

-3.0+0.4-3.4-0.6-2.4

-2.7+0.6-3.2-1.7-1.0

-2.6+0.9-3.5-1.3-1.3

-0.6+0.9-1.5-1.0+0.4

15d

-3.6+0.9-4.5-2.4-1.2

-4.2+2.3-6.5+0.0-4.2

-13.9-1.1-12.8-1.2-12.7

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UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 131Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Hirect Limited (formerly Hind Rectifiers) announced Douglas J. Bailey has resigned as Global CEO effective August 11, 2026 due to personal reasons. Chidambaram Balakrishnan, with three decades of experience at Caterpillar Rail and GE Transportation, appointed as new Global CEO with immediate effect. Board also appointed Rahul Rai as Independent Director for 5 years and Anil Kumar Nemani as Executive Director and CFO for 3 years. Q1 FY27 standalone revenue was Rs 236.39 crore with net profit of Rs 15.09 crore.

Likely market impact

Smooth CEO transition with immediate external replacement. Strong Q1 profitability supports growth outlook. Watch new strategic direction under incoming leadership.