NIBE Limited has informed the Exchange about the appointment of the Secretarial Auditor of the company
NIBE · price
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NIBE Limited reported weak Q1 FY26 results with consolidated revenue falling to ₹8,249.92 lakhs from ₹11,258.80 lakhs a year ago, a decline of about 27%. Net profit dropped sharply to ₹104.26 lakhs from ₹872.90 lakhs, with EPS falling to ₹0.72 from ₹5.88. The company operates mainly in defence and aviation segments, with defence contributing nearly all revenue. The board accepted the resignation of CEO Ranjan Choudhary (due to internal group reorganization) and appointed Prakash Khose, a mechanical engineer with 34 years of global experience, as the new CEO. M/s D Maurya & Associates was appointed as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), and M/s Dhananjay Laxman Gawade & Co was appointed as Cost Auditor for FY 2025-26. The board also deferred its proposed preferential issue fundraise citing current market volatility.
Sharp year-on-year decline in both revenue and profit may weigh on short-term investor sentiment, though the CEO transition and auditor appointments are routine governance matters. The deferred fundraise removes near-term dilution risk but signals caution from the board on valuations.