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Mumbai, May 16 (IANS) Hind Rectifiers Limited on Saturday reported a 55 per cent year-on-year decline in consolidated net profit for the fourth quarter ended March 31 (Q4 FY26).

The company posted a net profit of Rs 4.51 crore for the January-March quarter, compared with Rs 9.99 crore in the corresponding period last financial year (Q4 FY25), according to its stock exchange filing.

Revenue from operations, however, rose 51 per cent year-on-year to Rs 279.8 crore during the quarter, against Rs 185.1 crore in the year-ago period.

EBITDA for the quarter declined 58 per cent to Rs 8.42 crore from Rs 19.9 crore a year earlier.

The EBITDA margin also narrowed sharply to 3 per cent, compared with 10.8 per cent in the corresponding quarter last financial year.

The company’s board recommended a dividend of Rs 1.40 per equity share of face value Rs 2 each, equivalent to 70 per cent, for the financial year ended March 31, 2026.

The company said the dividend would be paid within 30 days of its declaration by shareholders at the upcoming annual general meeting (AGM), the date of which will be announced later.

In another key development, the board approved the re-appointment of Suramya Nevatia as Managing Director for a further term of three years from August 17, 2026, to August 16, 2029, subject to shareholders’ approval.

The board also approved revisions in remuneration and other terms of appointment of Akshada Nevatia as Executive Director, based on the recommendation of the Nomination and Remuneration Committee. The proposal is also subject to shareholders’ approval.

Shares of Hind Rectifiers Limited ended Friday’s trading session at Rs 945.30 on the Bombay Stock Exchange (BSE), gaining Rs 38.30 or 4.22 per cent.

Hind Rectifiers Limited, popularly known as Hirect, is a Mumbai-based engineering firm founded in 1958 that focuses on manufacturing power semiconductors, propulsion systems and railway transportation equipment for sectors such as railways, defence and industrial power.

--IANS

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