Hitech Corporation Limited has informed the Exchange that Board of Directors at its meeting held on May 26, 2025, recommended Final Dividend of Re. 1 per equity share.
HITECHCORP · price
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Hitech Corporation's board, at its May 26, 2025 meeting, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with auditors Kalyaniwalla & Mistry LLP issuing an unmodified opinion. The board recommended a final dividend of Re. 1 per share (10% on face value of Rs. 10), subject to shareholder approval at the 34th AGM. Standalone FY25 revenue came in at Rs. 549.43 crore (slightly down from Rs. 561.79 crore in FY24), while net profit fell sharply to Rs. 7.98 crore from Rs. 22.00 crore in FY24, with EPS at Rs. 4.65 vs Rs. 12.81. The company also acquired Thriarr Polymers (resulting in Rs. 8.41 crore goodwill) and formed US subsidiary Hitech Global Inc., while deciding to close its Sarigam Unit by May 2025 with a Rs. 1.55 crore retrenchment cost booked as an exceptional item. Dr. Swaminathan Sivaram was appointed Chairman in place of Mr. Jayendra Shah effective from the conclusion of the 34th AGM.
The sharp ~64% drop in standalone net profit despite stable revenue is a concern for shareholders and may pressure the stock. However, the continued dividend (Re. 1 per share) signals management's commitment to returning cash. The Sarigam unit closure and recent acquisitions indicate ongoing portfolio restructuring that could affect near-term margins.