Outcome of Board Meeting held on February 11, 2026 - Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Nine Months ended December 31, 2025
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The Board of Nibe Ordnance and Maritime Limited (formerly Anshuni Commercials Limited, BSE scrip 512091) approved unaudited financial results for Q3 FY26 and 9M FY26 on February 11, 2026. On a standalone basis, the company reported a net loss of ₹88.68 lakhs for Q3 FY26 (versus a loss of ₹23.26 lakhs in Q3 FY25) and a loss of ₹123.17 lakhs for 9M FY26 (versus a profit of ₹3.18 lakhs in 9M FY25). Standalone EPS deteriorated to (₹8.04) for 9M FY26 from ₹0.27 a year ago, with total expenses jumping sharply (Q3 FY26: ₹154.76 lakhs vs Q3 FY25: ₹23.04 lakhs). On a consolidated basis, the company swung to a 9M FY26 loss of ₹145.09 lakhs from a profit of ₹77.51 lakhs in 9M FY25, though Q3 FY26 alone remained profitable at ₹87.74 lakhs. The auditor (Kailash Chand Jain & Co.) issued an unmodified limited review opinion. Management noted that project-related expenses were capitalized into Capital Work-in-Progress during the period and that prior-year figures are not comparable due to changes in the subsidiary consolidation perimeter (subsidiaries include Nibe Maritime, Global Munition, Globe Forge and Global Explosives).
The company has moved from profitability to clear losses on both standalone and consolidated 9M bases, with sharply higher expenses and a capitalisation of project costs that defers P&L impact — a watch-out for shareholders as losses widen despite ongoing capacity build-out in the defence/maritime business.