Meeting Details
- Date: Tuesday, August 11, 2026
- Time: 01:00 p.m. (IST)
- Location: Conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM)
- Type: 68th Annual General Meeting
- Cut-off Date: Tuesday, August 4, 2026 for determining shareholder eligibility
Proposed Resolutions and Implications
Ordinary Business
1. Adoption of Financial Statements: To receive, consider and adopt (a) the audited standalone financial statement for FY ended March 31, 2026 with reports of Board and Auditors; and (b) the audited consolidated financial statement for FY ended March 31, 2026 with Auditors' report.
2. Dividend Declaration: To declare dividend at the rate of ₹1.40 (Rupees One and Forty Paisa only) per equity share, i.e. 70% of face value of ₹2/- each on fully paid-up equity shares for FY ended March 31, 2026.
3. Director Re-appointment: To appoint Mr. Parimal Merchant (DIN: 00201962) who retires by rotation and offers himself for re-appointment.
Special Business
4. Ratification of Cost Auditor Remuneration: To ratify remuneration of ₹80,000 plus applicable taxes and reimbursement of actual out-of-pocket expenses to M/s. N. Ritesh & Associates, Cost Accountants (Firm Registration No. R100675) for conducting cost audit for FY ending March 31, 2027.
5. Re-appointment of Managing Director: Special resolution to re-appoint Mr. Suramya Nevatia (DIN: 06703910) as Managing Director for 3 years from August 17, 2026 to August 16, 2029 with revised remuneration structure including fixed components and performance-linked incentive of 5% of profit before tax.
6. Revision in Executive Director Remuneration: Special resolution to revise remuneration payable to Mrs. Akshada Nevatia (DIN: 05357438), Executive Director during her existing tenure up to January 14, 2029, including fixed components and performance-linked incentive of 3% of profit before tax.
Voting Process and Methods
- Remote E-voting: Facility provided through National Securities Depository Limited (NSDL)
- Voting Period: Friday, August 7, 2026 at 09:00 a.m. to Monday, August 10, 2026 at 05:00 p.m.
- Cut-off Date: Tuesday, August 4, 2026 for determining voting rights
- Physical Meeting: Not applicable as meeting is conducted through VC/OAVM only
- Proxy Facility: Not applicable for VC/OAVM meetings
- Representation: Institutional members may appoint representatives through Board/Governing body resolution/Authorization emailed to scrutinizer
Scrutinizer Appointment
The Board has appointed Mr. Mahesh Soni (Membership No. F3706), or failing him, Ms. Sonia Chettiar (Membership No. F12649), partners at M/s. GMJ & Associates, Practicing Company Secretaries, as Scrutinizer to scrutinize the voting and remote e-voting process in a fair and transparent manner.
Compliance with Laws and Regulations
The notice confirms compliance with:
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act, 2013 and relevant rules
- Ministry of Corporate Affairs Circulars (03/2025, 9/2024, 9/2023, 10/2022, 2/2022, 21/2021)
- Secretarial Standard on General Meetings issued by ICSI
- All documents are being sent electronically in compliance with SEBI and MCA circulars
Dividend Information
- Record Date: Tuesday, August 4, 2026
- Payment Method: Electronic mode to bank accounts where details are available
- TDS Applicability: Dividend is taxable and TDS will be deducted as per Income Tax Act, 2025
- Unclaimed Dividend: Dividends unclaimed for 7 years will be transferred to Investor Education and Protection Fund (IEPF)
Additional Financial Information
The explanatory statement provides financial performance indicators:
- Total Income: ₹950.18 crores (2025-2026) vs ₹656.85 crores (2024-2025)
- Net Profit: ₹57.67 crores (2025-2026) vs ₹37.27 crores (2024-2025)
- Paid-up Capital: ₹6.87 crores (2025-2026) vs ₹3.43 crores (2024-2025)
- Reserves & Surplus: ₹214.39 crores (2025-2026) vs ₹156.60 crores (2024-2025)
Director Remuneration History
- Mr. Suramya Nevatia: ₹174.78 lakhs (2023-2024), ₹363.64 lakhs (2024-2025), ₹488.60 lakhs (2025-2026)
- Mrs. Akshada Nevatia: ₹46.21 lakhs (2023-2024), ₹210.57 lakhs (2024-2025), ₹311.21 lakhs (2025-2026)
Document Availability
All documents are available on:
- Company website: www.hirect.com
- NSDL website: www.evoting.nsdl.com
- BSE website: www.bseindia.com
- NSE website: www.nseindia.com