Hitech Corporation Limited recently notified the stock exchanges regarding significant transitions within its Board of Directors and key leadership roles following a board meeting on May 08, 2026. The notice detailed several appointments and cessations, including the induction of a new Chief Financial Officer and an Additional Independent Director. These changes are aimed at strengthening the company’s strategic management as it continues its expansion in the rigid plastic packaging sector.

The company approved the appointment of Mrs. Mugdha Khare as the Chief Financial Officer (CFO) and Key Managerial Personnel effective May 08, 2026. Additionally, Mr. Mehli Golvala was appointed as an Additional Independent Director for a five-year term, subject to shareholder approval. Leadership elevations included Mr. Ravi G. Balasubramanian to the role of President and Senior Management Personnel, while Mr. Girish Haganoor was appointed President of the wholly-owned subsidiary, Thriarr Polymers Private Limited. Conversely, the company announced the resignation of COO Mr. Jasraj Singh on health grounds and the upcoming cessation of Mr. Bomi Chinoy’s term as an Independent Director on May 22, 2026.

Incorporated in 1991, Hitech Corporation Limited is a leading manufacturer of rigid plastic packaging products, serving industries such as paints, agrochemicals, personal care, and food & beverages. In 2025, the company expanded its footprint by acquiring 100% of Thriarr Polymers Private Limited, specializing in thermosets and thermoplastics, and incorporating Hitech Global Inc. in the USA to handle international marketing. Despite facing systemic challenges like rising polymer costs due to global geopolitical volatility in early 2025, the company maintains 13 manufacturing facilities across India and continues to update its infrastructure, including a recently commissioned Technology Centre in Pune.

For the financial year ending March 31, 2025, Hitech Corporation reported a consolidated revenue of ₹561.43 Crores compared to ₹562 Crores in the previous year. The company’s quarterly performance showed volatility, with the December 2025 quarter reporting a standalone net loss of ₹3.27 Crores. This downturn was attributed to rising overheads and muted demand during that period. As of December 2025, the company is primarily promoter-held, with Geetanjali Trading and Investments Private Limited holding 69.11% of the equity. Prominent individual investors in the company include Jalaj A. Dani and Vita Jalaj Dani.