Iykot Hitech Toolroom Ltd Announces Major Governance Changes, Capital Increase, and Operational Shifts

Iykot Hitech Toolroom Ltd Announces Major Governance Changes, Capital Increase, and Operational Shifts​

Iykot Hitech Toolroom Ltd reported significant strategic and governance developments following a Board meeting held on July 24, 2026. The company approved key personnel appointments, an increase in authorized share capital, and the alteration of its corporate objects as part of its expansion into the bullion and precious metals sector.

Key Personnel Appointments and Changes​

The board decisions included several changes to senior management and directorship:

• Director Designation: Ms. Vaishali Sharad Lad was approved for a change in designation from Additional Director (NonExecutive) to Additional Director (Whole-Time Director), effective July 24, 2026, for a period of five years, subject to the approval of members at the ensuing Annual General Meeting.
• CFO Appointment: Mr. Rakesh Oza was appointed as Chief Financial Officer (CFO) with effect from July 24, 2026. Mr. Oza is identified as a Chartered Accountant specializing in financial advisory and taxation.
• Compliance Officers: Ms. Drishti Dawara (Membership No. A71811) was appointed as Company Secretary and Compliance Officer of the company.
• Auditor Appointment: M/s. A. Arul Anto & Co. was appointed as the Internal Auditor for the Financial Year 2026-2027.

The company also noted the resignation of Mr. Balakrishnan Thinagaran from his post as Chief Financial Officer, effective July 24, 2026, citing personal reasons and pre-occupation.

Strategic Corporate Alterations​

The Board of Directors approved several structural changes to the company's foundational documents:

• Capital Increase: The authorized share capital was increased from Rs 15,00,00,000/- (divided into 3,00,00,000 equity shares of Rs 5/- each) to Rs 40,00,00,000/- (divided into 8,00,00,000 equity shares of Rs 5/- each). This increase is intended to provide the company with greater financial flexibility and facilitate funding for its proposed expansion.
• Object Alteration: The Main and Ancillary Object Clause (Clause III) of the Memorandum of Association was altered. The alteration aims to align the company's objects with revised business plans, specifically allowing the company to explore opportunities in the bullion and precious metals sector. This includes manufacturing, trading in gold and silver coins, acquiring land or mining rights, and providing technology-enabled infrastructure for precious metal trading.
• Registered Office Shift: The registered office of the company was approved for shifting from Tamil Nadu to Maharashtra.

Financial Results Announcement​

The Board also approved the Unaudited Financial Results of the Company for the quarter ended June 30, 2026. The financial performance metrics are summarized below:


The company also approved the draft Notice of the Annual General Meeting (AGM), Board's Report, and Secretarial Audit Report. The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting on July 24, 2026.

Stock Price Movement​

Iykot Hitech Toolroom Ltd settled at ₹21.11 on Monday, recording zero change. Throughout the trading session, the shares were locked entirely flat as both the high and low remained at ₹21.11.