Hitech Corporation logo

Hitech Corporation MD, chairman, board of directors and AGM

NSE: HITECHCORPBSE: 526217Industrial ProductsSmall Cap

Formerly Hitech Plast
Last close ₹406.10down ₹4.30 (1.05%)BSE ₹408.80

Share price at the NSE close on 23 Oct 2026. Previous close ₹410.40.

52-week range of traded prices to 23 Oct 2026
₹112.00Low, 30 Mar 2026₹424.50High, 19 Oct 2026
Market cap
₹698 Cr2,127th largest listed
P/E
39.7
P/B
2.5
Dividend yield
0.25%
ROE
6.3%
ROCE
8.9%
Debt to equity
0.47
Volume, NSE
5,376

Hitech Corporation board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonSwaminathan Sivaram
  • Managing directorMalav A. Dani
  • Company Secretary and Compliance OfficerHetali Mehta

10 directors6 independent2 executive2 non-executive

  • Swaminathan Sivaram · ChairpersonIndependent · joined Dec 2024 · reappointed Dec 2024 · 18 months as independent · 2 listed boards · 2 as independent · 2 committee seats
  • Jayendra R. ShahNon-executive · joined Apr 2024 · reappointed Apr 2024 · 1 listed board · 2 committee seats
  • Malav A. Dani · Managing directorExecutive · joined Feb 2008 · reappointed Aug 2021 · 2 listed boards
  • Mehernosh A. MehtaExecutive · joined Mar 2016 · reappointed Mar 2026 · 1 listed board
  • Aditya M. ShethIndependent · joined Jun 2019 · reappointed Jun 2024 · 84 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Kalpana V. MerchantIndependent · joined Feb 2020 · reappointed Feb 2025 · 75 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Ina Ashwin DaniNon-executive · joined Dec 2023 · reappointed Dec 2023 · 1 listed board
  • Prakash D. TrivediIndependent · joined Dec 2023 · reappointed Dec 2023 · 30 months as independent · 1 listed board · 1 as independent
  • Anjan C. RayIndependent · joined Feb 2024 · reappointed Feb 2024 · 28 months as independent · 1 listed board · 1 as independent
  • Mehli Maneck GolvalaIndependent · joined May 2026 · reappointed May 2026 · 1 month as independent · 1 listed board · 1 as independent

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • Bomi P. Chinoy, left 22 May 2026: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 9 Jun 202610 of 10 present6 independent · 19 days in between
    • 20 May 202611 of 11 present7 independent · 11 days in between
    • 8 May 202610 of 10 present6 independent · 86 days in between
    • 10 Feb 20269 of 10 present6 independent

  • Audit Committee

    Kalpana V. Merchant, Aditya M. Sheth, Jayendra R. Shah, Mehli Maneck Golvala

    • 20 May 20265 of 5 present4 independent · 11 days in between
    • 8 May 20264 of 4 present3 independent · 86 days in between
    • 10 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Aditya M. Sheth

    Jayendra R. Shah, Anjan C. Ray

    • 19 May 20263 of 3 present2 independent · 10 days in between
    • 8 May 20263 of 3 present2 independent · 86 days in between
    • 10 Feb 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Kalpana V. Merchant

    Aditya M. Sheth, Jayendra R. Shah, Mehli Maneck Golvala

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Aditya M. Sheth

    Prakash D. Trivedi, Malav A. Dani, Mehli Maneck Golvala

    • 19 May 20264 of 5 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Kalyaniwalla & Mistry LLPPeer-review certificate valid to Jul 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Hitech Corporation AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Hitech Corporation dividend history

Annual general meeting, 24 Sep 2026

7,088 shareholders on the register on 17 Sep 2026; present: 4 promoters and 44 others; votes counted by MAYANK ARORA / MAYANK ARORA & CO..The company's voting result (opens in a new tab)

  1. a) Approval for the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon. b) Approval for the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 72.98% · promoters 97.74% · institutions 0.00% · other public 0.89%

  2. Declaration of dividend on Equity Shares for the Financial Year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 72.98% · promoters 97.74% · institutions 0.00% · other public 0.89%

  3. Approval for not filling the vacancy caused due to retirement by rotation of Mr. Jayendra R. Shah (DIN: 00132613).
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 72.98% · promoters 97.74% · institutions 0.00% · other public 0.89%

  4. Approval for Material Related Party Transaction with Asian Paints Limited.
    OrdinaryPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 0.23% · promoters 0.00% · institutions 0.00% · other public 0.89%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 10 Jul 2026, 3 resolutions

8,477 shareholders on the register on 5 Jun 2026; votes counted by MAYANK ARORA / MAYANK ARORA AND COMPANY.The company's voting result (opens in a new tab)

  1. Voluntary Delisting of equity shares having face value of INR 10/- (Rupees Ten only) each of Hitech Corporation Limited from BSE Limited and National Stock Exchange of India Limited (Collectively referred as “Stock Exchanges”), where the Equity Shares of the Company are presently listed, in accordance with Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, as amendedMoreLess
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.88%

    Turnout: all 78.07% · promoters 97.76% · institutions 0.00% · other public 20.80%

  2. To approve the re-appointment of Mr. Malav Dani (DIN: 01184336) as Managing Director of the Company.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.74%

    Turnout: all 79.70% · promoters 99.96% · institutions 0.00% · other public 20.77%

  3. To approve the appointment of Mr. Mehli Golvala (DIN: 02234105) as an Independent Non-Executive Director.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.11%

    Turnout: all 79.71% · promoters 99.96% · institutions 0.00% · other public 20.78%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 25 Mar 2026, 1 resolution

9,000 shareholders on the register on 13 Feb 2026; votes counted by MAYANK ARORA / MAYANK ARORA AND COMPANY.The company's voting result (opens in a new tab)

  1. Approval for re-appointment of Mr. Mehernosh Mehta (DIN: 00372340) as a Whole Time Director of the Company for a period of 1 year
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.73%

    Turnout: all 71.30% · promoters 95.54% · institutions 0.00% · other public 0.71%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 24 Jul 2025, 6 resolutions

9,494 shareholders on the register on 18 Jul 2025; present: 3 promoters and 45 others; votes counted by MAYANK ARORA / MAYANK ARORA & CO..The company's voting result (opens in a new tab)

  1. a) Approval for the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and the Auditors thereon. b) Approval for the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.46%

    Turnout: all 73.40% · promoters 97.74% · institutions 0.32% · other public 2.58%

  2. To declare dividend on Equity Shares for the Financial Year ended March 31, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.46%

    Turnout: all 73.40% · promoters 97.74% · institutions 0.32% · other public 2.58%

  3. Appointment of a Director in place of Mrs. Ina Ashwin Dani (DIN: 00053695), who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.46%

    Turnout: all 73.40% · promoters 97.74% · institutions 0.32% · other public 2.58%

  4. Approval for Appointment of M/s. Nilesh Shah & Associates, Company Secretaries, as the Secretarial Auditor of the Company for a term of five consecutive years from the Financial Year 2025-26 to the Financial Year 2029-30.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.46%

    Turnout: all 73.40% · promoters 97.74% · institutions 0.32% · other public 2.58%

  5. Approval for Material Related Party Transaction with Asian Paints Limited.
    OrdinaryPromoters have an interest in it
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.46%

    Turnout: all 0.65% · promoters 0.00% · institutions 0.32% · other public 2.58%

  6. Approval for remuneration to related party, Mr. Chirag Gosalia, holding Office or Place of Profit.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.64%

    Turnout: all 73.40% · promoters 97.74% · institutions 0.32% · other public 2.58%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 19 Dec 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. To approve the appointment of Dr. Swaminathan Sivaram (DIN: 00009900) as a Non-Executive Independent Director of the Company for a term of five yearsand approval for appointment beyond 75 years of age
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.68%

    Turnout: all 74.53% · promoters 99.96% · institutions 0.00% · other public 0.50%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 25 Jul 2024, 5 resolutions

Present: 4 promoters and 49 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Reports of the Board of Directors and the Auditors thereon.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.08%

    Turnout: all 75.23% · promoters 99.96% · institutions 0.00% · other public 3.24%

  2. Declaration of dividend on Equity Shares for the Financial Year ended March 31, 2024.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.08%

    Turnout: all 75.23% · promoters 99.96% · institutions 0.00% · other public 3.24%

  3. Appointment of a Director in place of Mr. Mehernosh A Mehta (DIN: 00372340), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.08%

    Turnout: all 75.23% · promoters 99.96% · institutions 0.00% · other public 3.24%

  4. Approval for Alteration in object clause of Memorandum of Association.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.08%

    Turnout: all 75.23% · promoters 99.96% · institutions 0.00% · other public 3.24%

  5. Approval for re-appointment of Ms. Kalpana V. Merchant (DIN: 00827907) as a Non-Executive Independent Director for a second term of five consecutive years commencing from February 27, 2025.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.08%

    Turnout: all 75.23% · promoters 99.96% · institutions 0.00% · other public 3.24%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 21 Jun 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. To approve the re-appointment of Mr. Aditya M. Sheth (DIN: 02289144) as a Non-Executive Independent Director for a second term of five consecutive years commencing from June 25, 2024
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.31%

    Turnout: all 74.55% · promoters 99.96% · institutions 0.00% · other public 0.56%

  2. To approve limits under section 186 of Companies Act, 2013 for making investments, giving loans and giving security or guarantee
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.35%

    Turnout: all 74.55% · promoters 99.96% · institutions 0.00% · other public 0.56%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 29 Apr 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Appointment of Dr. Anjan Ray (DIN: 03630088) as an Independent Non-Executive Director for a term of 5 years with effect from 7th February 2024
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.10%

    Turnout: all 74.50% · promoters 99.96% · institutions 0.00% · other public 0.36%

  2. Appointment of Mr. Jayendra R. Shah (DIN: 00132613) as Non-Executive Non Independent Director of the Company and approval for appointment beyond 75 years of age
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.37%

    Turnout: all 74.50% · promoters 99.96% · institutions 0.00% · other public 0.36%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
No
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.