Hindusthan Insulators & Industries Ltd approved the appointment of Shailendra Jhalani as Whole-time Director, designated Deputy Managing Director, at its October 3, 2026 board meeting, according to a BSE filing. The appointment takes effect on October 4 and requires members' approval. The board also approved a proposal to increase authorised share capital to Rs 121 crore.

Jhalani resigned as Chief Financial Officer with effect from October 3, consequent to his proposed appointment. His approved tenure as Whole-time Director and Key Managerial Personnel runs for three years, through October 3, 2029.

The board appointed him as an Additional Director effective October 4, with that office lasting until the next general meeting or three months from appointment, whichever is earlier. A chartered accountant with over 27 years of professional experience, Jhalani heads commercial activities, including marketing and production, at the company's Insulators & Electricals Company unit.

Independent director appointment and capital proposal

The board also approved Mool Chand Gauba's appointment as an Additional Director in the Non-Executive Independent Director category. His first five-year term, from October 3, 2026 to October 2, 2031, is subject to members' approval. His additional directorship lasts until the next general meeting or three months from appointment, whichever is earlier.

Gauba has experience in banking, financial management and corporate finance. The company stated that neither appointee is debarred from holding a directorship by SEBI or another authority.

The proposed authorised capital increase is from Rs 108.50 crore to Rs 121 crore, through an amendment to the memorandum of association. The revised structure comprises:

  • 11.75 crore equity shares of Rs 2 each, against the existing 5.50 crore shares.
  • An unchanged 9.75 crore preference shares of Rs 10 each.

The capital proposal requires shareholder approval and any applicable regulatory or statutory approvals.

September results and Gwalior operations

The board approved unaudited standalone results for the quarter and half year ended September 30, 2026. Quarterly net profit stood at Rs 5,536.71 lakh, against a loss of Rs 4,330.03 lakh a year earlier. The comparative quarter included an exceptional loss of Rs 4,630.12 lakh; the latest quarter had no exceptional item.

Half-year net profit was Rs 9,198.87 lakh, against a loss of Rs 4,347.89 lakh in the corresponding previous period.

The company also said it is evaluating measures to strengthen its Conductor Unit-Gwalior operations, improve utilisation of existing facilities and augment operational capabilities to pursue emerging conductor-segment opportunities.