Hitech Corporation Recommends ₹1 Dividend, Reappoints MD, Approves FY26 Results
Hitech Corporation's board approved audited financial results for the year ended March 31, 2026, and recommended a dividend of Re. 1 per share, subject to shareholder approval. The board also re-appointed Mr. Malav Dani as Managing Director for five years, effective August 5, 2026. Mr. Jayendra Shah will retire by rotation at the next AGM.
The dividend recommendation and key management reappointment have a moderate impact on investor sentiment. The approval of financial results is a routine event.
The announcement includes positive elements such as dividend recommendation and reappointment of the Managing Director, along with the approval of financial results.
Hitech Corporation Limited has announced the outcomes of its Board Meeting held on May 20, 2026. The Board approved the audited standalone and consolidated financial statements and results for the fourth quarter and financial year ended March 31, 2026. The auditors, M/S KALYANIWALLA & MISTRY LLP, issued unmodified opinions on both standalone and consolidated financial statements. 2026. 2026. The Board meeting commenced at 02:30 p.m. and concluded at 5:50 p.m.
The Board recommended a dividend of Re. 1 (10%) per equity share of face value ₹10 each for the financial year ended March 31, 2026, subject to shareholder approval at the 35th Annual General Meeting (AGM).
Mr. Malav Dani (DIN: 01184336) has been re-appointed as Managing Director for a five-year term starting August 5, 2026, based on the recommendation of the Nomination and Remuneration Committee and subject to necessary approvals. Mr. Jayendra Shah (DIN: 00132613), Non-Executive Non-Independent Director, will retire by rotation at the upcoming 35th AGM, with the Board acknowledging his contributions.
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Hitech Corporation Limited filed this with the NSE as a statutory disclosure, categorised under dividend. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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