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Hitech Corporation Ltd.

BSE: 526217 | NSE: HITECHCORP |

Shares falling in the `Trade-to-Trade` or `T-segment` are traded in this series and no intraday is allowed. This means trades can only be settled by accepting or giving the delivery of shares.
Series: BE | ISIN: INE120D01012 | SECTOR: Plastics

BSE Live

Oct 21, 16:00
85.00 1.65 (1.98%)
Volume
AVERAGE VOLUME
5-Day
1,272
10-Day
805
30-Day
546
1,600
  • Prev. Close

    83.35

  • Open Price

    85.00

  • Bid Price (Qty.)

    85.00 (25)

  • Offer Price (Qty.)

    87.50 (500)

NSE Live

Oct 21, 15:31
86.00 1.00 (1.18%)
Volume
AVERAGE VOLUME
5-Day
895
10-Day
1,031
30-Day
1,979
919
  • Prev. Close

    85.00

  • Open Price

    84.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2018 2015 2014 2004

Chairman's Speech

Dear Partners,

As the country inches its way towards becoming the fifth largest economy in the world, we as a corporation have experienced changes in both behaviour and values. The wave of economic reform that came with the implementation of GST and demonetization, supported by policy stimulus, is beginning to take root and is moving us as a community, towards a more moral way of conducting business. With 7.5% GDP rate and an expanding middle class, we are poised for an unprecedented growth.

It has always been our philosophy to be in close proximity of our customers, in order to have a better understanding of their requirements and offer them the quickest advantage of the best and latest technology in the field of plastic packaging. We work tirelessly to develop innovative products by adopting sophisticated techniques and modernized automation, all in an effort to reduce costs and improve economic value. The Company''s product designs are equivalent to best products of similar nature in the market.

Through our extensive domestic presence, we hope to extend benefits of research in leading edge polymer science and plastic processing to various industries, by using barrier materials to extend the shelf life of dairy and processed food and by using of specialized thermoplastic material for packaging of liquids. This will help in retaining their basic characteristics. We are also at the vanguard of mould development through software analysis and direct machining. Our process involves combining materials of mould construction for better quality controlled moulded parts that results in faster and more precise mould manufacturing. Two of our facilities are now certified as ''Green Channel'' partners in addition to having the requisite ISO compliances, pending SEDEX approvals. With this, we hope to standardize our promise of superior quality which is the hallmark of our brand, which generates sustainable value for the members.

After rebuilding of our Rohtak facility, we have not only reworked and updated our existing plants but are also building state of the art facilities at Mysuru and Vishakhapatnam (Vizag) at the behest of one of the Company''s most trusted partners. These plants will be operational before the end of the next financial year and will add to our total processing capacity.

We are also now fully compliant with the newly mandated Indian Accounting Standard (IND-AS).

It has been our resolute mission to promote life skills and value education through our CSR arm ''Sab Ka Mangal Ho Foundation''. We have planned and successfully implemented various projects like free eye check-up camps in industrial areas and mid-day meal programs for under privileged children. Now, we are determined to bring yoga education to children in various orphanages. The project was initiated in February 2018 and we have already completed the pilot projects at six orphanages in Mumbai and Pune and hope to extend this initiative across the country, as this project is a prized initiative of the Company with which it hopes to enhance the quality of life and transform millions of lives.

Lastly, I would like to express my gratitude to you all for your continued support and faith in your Company''s endeavours.

Warm Regards,

Malav Dani