Outcome of Board Meeting held on February 9, 2026
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NHC Foods' board approved unaudited standalone and consolidated results for Q3 and 9M ended December 31, 2025. Standalone revenue from operations jumped about 59% year-on-year to Rs. 11,698 lakhs in Q3 FY26 and Rs. 33,070 lakhs for 9M FY26, up from Rs. 7,337 lakhs and Rs. 20,688 lakhs respectively a year ago. However, standalone profit after tax actually fell to Rs. 187.51 lakhs in Q3 (from Rs. 209.35 lakhs) and Rs. 489.02 lakhs for 9M (from Rs. 579.66 lakhs), showing margin compression despite the strong topline growth. On a consolidated basis, 9M revenue was Rs. 34,291 lakhs and PAT Rs. 566.16 lakhs, helped by a UAE subsidiary. The board also approved a plan to raise up to USD 27 million (about Rs. 230 crore) through equity, warrants, QIP, or other instruments, and increased the Section 180(1)(a) borrowing limit to Rs. 500 crore. A postal ballot notice was approved for shareholder approvals. Both the Rights Issue (Rs. 47.42 crores) and Warrants (Rs. 8.13 crores) proceeds have been fully utilised with no deviation.
Strong revenue growth is a positive, but declining standalone profits and a large upcoming fund raise of up to USD 27 million may lead to equity dilution, which existing shareholders should watch closely. The stock could see short-term pressure from the dilution overhang, though the capital raise signals expansion plans.