HEXATRADEX - Hexa Tradex
📢 Recent Corporate Announcements
Hexa Tradex Limited has announced a significant leadership restructuring effective February 5, 2026. Mr. Pravesh Srivastava, the current Company Secretary, has been elevated to the position of Chief Executive Officer (CEO & CS). Mr. Pooran Singh, who has 15-20 years of experience and previously served as the Internal Auditor, has been appointed as the new Chief Financial Officer (CFO). Furthermore, M/s KUG & Associates, a firm with over 30 years of experience, has been appointed as the Internal Auditor for the 2026-2027 fiscal year.
- Mr. Pravesh Srivastava appointed as CEO and Company Secretary effective February 5, 2026
- Mr. Pooran Singh transitioned from Internal Auditor to CFO with 15-20 years of financial experience
- M/s KUG & Associates appointed as Internal Auditor for FY 2026-2027, bringing 30+ years of expertise
- The leadership changes were approved in a Board meeting held on February 5, 2026, between 3:30 PM and 4:15 PM
Hexa Tradex reported a standalone net loss of ₹69.82 lakhs for the quarter ended December 31, 2025, a sharp decline from a profit of ₹442.41 lakhs in the year-ago period. Total income fell significantly to ₹2.01 lakhs from ₹675.09 lakhs YoY, largely due to the absence of high 'Other Income' seen in the previous year. However, the company recorded a massive Total Comprehensive Income of ₹16,118.54 lakhs, driven by a ₹18,771.17 lakh gain in the fair valuation of non-current investments. Investors should note that the company's delisting process is substantially complete and awaiting final exchange approvals.
- Standalone revenue from operations for Q3 FY26 was ₹2.01 lakhs compared to nil in Q3 FY25.
- Net loss for the quarter stood at ₹69.82 lakhs versus a profit of ₹442.41 lakhs in the same quarter last year.
- Total Comprehensive Income reached ₹16,118.54 lakhs due to significant fair value gains on investments.
- Delisting application has been filed with BSE and NSE and is currently pending approval.
- A SEBI Show Cause Notice from March 2024 remains pending for disposal following settlement applications.
Mr. Neeraj Kanagat has resigned from his dual roles as Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of Hexa Tradex Limited, effective January 9, 2026. He is also stepping down from these positions at the company's material subsidiary, Hexa Securities and Finance Company Limited. This transition is described as part of a restructuring and growth realignment within the PR Jindal Group to foster operational synergies. The company has not yet named a successor for these critical leadership positions.
- Mr. Neeraj Kanagat to step down as CEO and CFO effective January 9, 2026
- Resignation covers both Hexa Tradex and its material subsidiary, Hexa Securities and Finance Company Limited
- Transition is part of a PR Jindal Group-wide restructuring for operational synergies
- The move is intended to drive focused execution across various group businesses
Hexa Tradex Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by RCMC Share Registry Private Limited, confirms that share certificates received for dematerialization during the quarter ended December 31, 2025, were processed correctly. This filing, dated January 06, 2026, confirms that the company has substituted the names of depositories in its records within the stipulated timeframe. This is a standard regulatory requirement for all listed companies in India.
- Submission of compliance certificate for the quarter ending December 31, 2025
- Verification conducted by RCMC Share Registry Private Limited (RTA)
- Confirms compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Financial Performance
Revenue Growth by Segment
Total income from operations grew by 29,734% YoY, reaching INR 677.25 lakhs compared to INR 2.27 lakhs in the previous year. Primary segments include Trading & Other Activities and Investment & Finance.
Geographic Revenue Split
Revenue is derived from national and international trading of goods and services. Specific percentage split by region is not disclosed in available documents.
Profitability Margins
The company achieved a Net Profit Margin of 27.7% for the year under review, with a profit after tax of INR 187.87 lakhs compared to a loss of INR 259.29 lakhs in the previous year.
EBITDA Margin
Core profitability improved significantly as the company moved from a loss of INR 259.29 lakhs to a profit of INR 187.87 lakhs. Standalone EPS for the half-year ended September 30, 2025, was (0.29).
Capital Expenditure
The company maintains a low-asset model with Property, Plant, and Equipment valued at only INR 0.24 lakhs as of September 30, 2025, down from INR 0.27 lakhs in March 2025.
Credit Rating & Borrowing
Total consolidated borrowings stood at INR 1,984.38 lakhs as of September 30, 2025, comprising INR 634.28 lakhs in non-current and INR 1,350.10 lakhs in current borrowings.
Operational Drivers
Raw Materials
Wide variety of wholesale products for cash and carry trading; specific commodity names are not disclosed.
Import Sources
Cross-border trading involves global markets; specific countries are not disclosed in available documents.
Capacity Expansion
Not applicable as the company operates in trading and finance rather than manufacturing.
Raw Material Costs
Not disclosed as a percentage of revenue; however, the company faces potential risks from vendor or customer failures impacting procurement costs.
Strategic Growth
Growth Strategy
Growth is driven by the delisting process initiated by acquirers, which is substantially complete. The company also focuses on fair valuation of investments, which contributed INR 83,686.83 lakhs to Other Comprehensive Income.
Products & Services
National and international trading services, acting as import/export agents, brokers, and wholesale traders of various goods.
Market Expansion
Focuses on national and international trading; specific target regions for expansion are not disclosed.
Market Share & Ranking
Operates in an intensely competitive trading industry; specific ranking is not disclosed.
External Factors
Industry Trends
The industry is shifting toward higher protectionism and tariff barriers, requiring advanced risk management and scenario planning to navigate global trade disruptions.
Competitive Landscape
The trading industry is described as intensely competitive by nature, with risks from both established players and new entrants.
Competitive Moat
Competitive advantage is derived from its association with the Jindal Group and its robust risk management framework, though sustainability is challenged by intense industry competition.
Macro Economic Sensitivity
Highly sensitive to global economic fluctuations; IMF projects global growth at 2.80% for 2025 and 3.00% for 2026.
Geopolitical Risks
Significant exposure to trade tensions and policy uncertainty, particularly regarding unilateral tariffs announced by major trading partners like the United States.
Regulatory & Governance
Industry Regulations
Subject to SEBI Listing Obligations and Disclosure Requirements (LODR). Received a warning letter from NSE and BSE on October 14, 2025, regarding Corporate Governance Regulation 18(1)(d) and 20(3).
Taxation Policy Impact
Deferred tax liabilities (net) stood at INR 72,842.39 lakhs as of September 30, 2025. Recognition of profit in OCI was net of taxes.
Legal Contingencies
SEBI issued a Show Cause Notice (SCN) on March 18, 2024, alleging violations of the SEBI Act; the company has filed settlement applications which are currently pending disposal.
Risk Analysis
Key Uncertainties
Primary risks include strategic competition, commercial vendor/customer failures, and financial non-payment risks which threaten profitability and margins.
Geographic Concentration Risk
Cross-border trading exposes the company to political and global economic uncertainties across multiple regions.
Third Party Dependencies
Significant dependency on vendors and customers; failures in these third-party relationships are identified as a major commercial risk.
Credit & Counterparty Risk
Prioritizes credit risk management, particularly with regular customers, to mitigate threats to profitability from delayed payments.