The Hi-Tech Gears Limited has informed the Exchange regarding appointment of Mr. Nirbhay Kumar, proprietor of M/s Nirbhay Kumar & Associates, Practicing Company Secretary as Scrutinizer to scrutinize the Ballot paper, remote e-voting and e-voting process during the ensuing Annual General meeting of the Company.
HITECHGEAR · price
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The Hi-Tech Gears Limited announced weak Q1 FY26 (quarter ended June 30, 2025) results, with consolidated profit after tax falling nearly 58% year-on-year to Rs 59.98 million from Rs 142.37 million. Total consolidated income dropped 16.3% to Rs 2,200.94 million, hurt by weaker performance in both India and Canada segments. The Canada segment saw revenue decline to Rs 569.22 million (from Rs 792.53 million) with segment profit collapsing to Rs 6.75 million from Rs 60.70 million. On a standalone basis, PAT fell about 35% to Rs 93.92 million and EPS dropped to Rs 5.00 from Rs 7.65. The board also approved reclassifying Dev Darshan Construction Pvt Ltd from 'Promoter Group' to 'Public' category, subject to stock exchange approval. Additionally, M/s PG & Associates was appointed as Secretarial Auditor for five years (FY26–FY30), and Mr. Nirbhay Kumar was named Scrutinizer for the 39th AGM.
Shareholders should note the sharp decline in Q1 earnings, especially the steep fall in consolidated profits and weakness in the Canadian business, which could weigh on the stock in the short term. The promoter group reclassification, once approved, will increase the public float, potentially improving liquidity but signaling a reduced promoter stake in that entity.