Hirect Replaces Global CEO Douglas Bailey With Chidambaram Balakrishnan

Q1 FY27 Consolidated Results YoY: Revenue at 258 Cr vs 215 Cr, up 20.3%. EBITDA at 17.5 Cr vs 24.5 Cr, down 28.3%. EBITDA Margin at 6.8% vs 11.4%, contraction of 460bps. PAT attributable to owners at 9.4 Cr vs 12.8 Cr, down 26.2%; includes a one-time exceptional gain of 3.5 Cr. Employee costs grew 115.6% vs revenue growth of 20.3%; Other Income rose to 4.3 Cr from 0.2 Cr. Engineering Products profit increased to 27.7 Cr from 21.7 Cr, while EMS remained loss-making at 8.5 Cr despite narrowing its loss from 17.9 Cr; consolidated comparatives exclude Elventive France. Global CEO Douglas J. Bailey resigned citing personal reasons, and Chidambaram Balakrishnan was appointed as replacement.