Net profit of Hindustan Hardy Spicer reported to Rs 0.75 crore in the quarter ended March 2018 as against net loss of Rs 0.37 crore during the previous quarter ended March 2017. Sales rose 37.39% to Rs 11.98 crore in the quarter ended March 2018 as against Rs 8.72 crore during the previous quarter ended March 2017.

For the full year,net profit reported to Rs 0.91 crore in the year ended March 2018 as against net loss of Rs 0.78 crore during the previous year ended March 2017. Sales rose 2.88% to Rs 37.91 crore in the year ended March 2018 as against Rs 36.85 crore during the previous year ended March 2017.

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Hindustan Hardy Spicer will hold a meeting of the Board of Directors of the Company on 07 May 2018, to inter-alia consider and to approve Audited Financial Statements for the year ended 31.03.2018, Audited Financial Results for the quarter and year ended 31.03.2018, and declaration of dividend, if any, for the financial year ended 31.03.2018.

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Hindustan Hardy Spicer announced the resignation of Sharad Jain as Director of the company with effect from 17 April 2018.

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Hindustan Hardy Spicer announced that XLO India, a promoter of the Company has agreed to acquire from Spicer Gelenkwellenbau GmbH, another promoter of the Company, the entire 3,90,000 equity shares of the Company held by Spicer Gelenkwellenbau GmbH, by way of inter se transfer of shares amongst promoters. The Company has initiated steps for changing the corporate name of the Company by deleting the word Spicer from its name.

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