Hitech Corporation Limited — Important, 13-03-2025: Closure of operations

Hitech Corporation Limited will close its PPMF business unit due to unsatisfactory performance resulting from unfavorable market conditions, rising production costs, and declining demand. The unit generated a turnover of Rs. 6.87 crores, contributing only 1.22% to the company's total revenue of Rs. 563 crores, and reported negative profitability. This closure, expected by the end of May 2025, is not anticipated to adversely affect the company’s overall operations. Investors should view this decision as a prudent move aimed at streamlining operations and focusing on more profitable segments, indicating a positive outlook for the company's future.