Q1 loss widens; board approves pivot to bullion and jewellery business

Iykot Hitech posted Q1 FY27 loss of Rs 44.97 lakh vs Rs 2.56 lakh profit YoY, with net sales falling to Rs 7.23 lakh. Board approved a major pivot into bullion, gold, silver, jewellery and mining. Authorised capital to rise from Rs 15 cr to Rs 40 cr to fund expansion. Registered office shifting from Tamil Nadu to Maharashtra. CFO Balakrishnan Thinagaran resigned; Rakesh Oza appointed new CFO.