- Business
- Hittco Tools Limited Hittco Tools Limited manufactures and sells high-speed steel (HSS) and solid carbide cutting tools for machining a wide variety of metals and acrylic materials; its core products include HSS jobber drills, center drills, end mills, taps, reamers, cobalt twist drills, solid carbide twist drills, high performance endmills, endmills for non-ferrous metals, die and mould endmills, general purpose endmills, and carbide high performance drills. The company serves industries such as aerospace, automotive, oil and gas, and general engineering through a global network of distributors, with primary operations in India and exports to multiple countries. Founded in 1974 with manufacturing commencing that year and incorporated as a public limited company in 1995, Hittco Tools Limited maintains two production facilities totaling approximately 5,000 square meters in the Peenya Industrial Area on the outskirts of Bengaluru, India, its headquarters location. In recent developments during fiscal year 2023-2024, the company appointed a new company secretary effective August 31, 2023, changed its statutory auditors from Bothra Nirmal Associates to DTSB & Associates to fill a casual vacancy and for a five-year term through 2028-2029, added independent directors Rajeev Gobindram Hassanand and Rajeev Shantilal Desai for five-year terms until June 2029, proposed expansion of its memorandum of association object clauses to include businesses in hospitality, real estate development, civil engineering, and power generation, and sought approval to increase authorized share capital from INR 70 million to INR 150 million.