HITECHCORP2024-01-012024-03-31 HITECHCORP2024-01-012024-03-31 HITECHCORP2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member HITECHCORP2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member HITECHCORP2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 526217 HITECHCORP NOTLISTED Hitech Corporation Limited Equity 2023-04-01 2024-03-31 2024-05-16 2024-05-10 INR Lakhs Yearly 15:00:00 18:15:00 2024-05-16 2024-05-16 true Cash Flow Indirect Declaration of unmodified opinion Single segment Manufacturing of Plastic Containers 2024-01-01 2024-03-31 Audited Standalone 1386291000.00 5003000.00 1391294000.00 827386000.00 0.00 -14184000.00 98075000.00 35993000.00 80419000.00 270365000.00 1298054000.00 93240000.00 0.00 93240000.00 22141000.00 4701000.00 26842000.00 0.00 66398000.00 0.00 0.00 0.00 0.00 66398000.00 -305000.00 66093000.00 0.00 0.00 171757000.00 10 3.87 3.87 0.00 0.00 3.87 3.87 1. The above audited financial results which are published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, as amended, have been reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors of the Company at their respective meetings held on May 16, 2024. These results have been audited by the Statutory Auditors of the Company who have issued unmodified audit opinion thereon. 2. The audited financial results are prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013, read with Companies (Indian Accounting Standards) Rules, 2015 (as amended). 3. Subsequent to the March 31, 2024, the company has formed a 100% subsidiary Hitech Global. INC having its registered office in the state of Delaware, with initial capital of USD 100,000 (equivalent to Rs. 84.60 lakhs) 4. The Company has started commercial production at their newly started plant at Dahej w.e.f. March 22, 2024. 5. The Company has identified Plastic Packaging as its single primary reportable segment in accordance with the requirements of Ind AS 108 - Operating Segments. Accordingly, no separate segment information has been provided. 6. During the previous financial year, the Company received Orders from the Land Acquisition, Rehabilitation & Resettlement Authority, D & N. H., Silvassa under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (‘the Act’), aggregating Rs. 485.97 Lakhs as compensation for the compulsory acquisition of Land under the Act, which included interest of Rs. 31.10 Lakhs. The exceptional item of Rs. 380.61 Lakhs represents the excess of the compensation amount (net of interest) over the related carrying cost of the Asset held for Sale. 7. The Board of Directors have, subject to approval by shareholders in the ensuing Annual General Meeting, recommended a dividend of Rs. 1 per share (at the rate of 10%), on the equity shares of the Company for the year ended March 31, 2024, the liability for the same to be accounted once approved by the shareholders at the ensuing Annual General Meeting. 8. The figures for the quarter ended March 31, 2024 and March 31, 2023 are balancing figures between audited figures in respect of the full financial years and the cumulative figures up to the third quarter of those respective financial years. Single segment 2023-04-01 2024-03-31 Audited Standalone 5617947000.00 16119000.00 5634066000.00 3392646000.00 0.00 -7013000.00 395282000.00 142581000.00 297099000.00 1113258000.00 5333853000.00 300213000.00 0.00 300213000.00 80767000.00 -583000.00 80184000.00 0.00 220029000.00 0.00 0.00 0.00 0.00 220029000.00 -764000.00 219265000.00 0.00 0.00 171757000.00 10 2462433000.00 12.81 12.81 0.00 0.00 12.81 12.81 Other Expenses 270365000.00 Other Expenses 1113258000.00 2496021000.00 147857000.00 67376000.00 0.00 243000.00 11403000.00 0.00 63373000.00 74776000.00 84210000.00 70588000.00 2941071000.00 420662000.00 0.00 423373000.00 6433000.00 1815000.00 0.00 37581000.00 469202000.00 55388000.00 945252000.00 5618000.00 3891941000.00 171757000.00 2462433000.00 2634190000.00 2634190000.00 246333000.00 72212000.00 318545000.00 69162000.00 25187000.00 412894000.00 463660000.00 190353000.00 142924000.00 796937000.00 10697000.00 27188000.00 10035000.00 844857000.00 1257751000.00 3891941000.00 142581000.00 -45858000.00 -56799000.00 0.00 -21617000.00 -4509000.00 -7379000.00 189000.00 0.00 20127000.00 0.00 1296000.00 0.00 297099000.00 0.00 8489000.00 0.00 -3198000.00 0.00 988000.00 0.00 3586000.00 0.00 0.00 0.00 0.00 0.00 -8024000.00 0.00 319799000.00 620012000.00 0.00 0.00 0.00 74270000.00 0.00 545742000.00 0.00 0.00 0.00 11403000.00 0.00 0.00 0.00 0.00 41189000.00 513461000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1451000.00 0.00 110000.00 0.00 -482114000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 325934000.00 227712000.00 18987000.00 0.00 17342000.00 142627000.00 0.00 0.00 -80734000.00 -17106000.00 0.00 -17106000.00 23539000.00 6433000.00 -417000.00 -1033000.00 -112000.00 -269000.00 0.00 0.00