NIBE Limited has informed the Exchange regarding the appointment of the cost auditor of the company
NIBE · price
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NIBE Limited's board approved unaudited Q1 FY26 results (quarter ended June 30, 2025), with consolidated revenue from operations falling about 27% year-on-year to Rs 8,249.92 lakhs (from Rs 11,258.80 lakhs), while consolidated net profit plunged roughly 88% to Rs 104.26 lakhs (from Rs 872.90 lakhs). On a standalone basis, revenue declined around 23% to Rs 8,119.01 lakhs and PAT fell about 43% to Rs 389.03 lakhs. CEO Ranjan Choudhary resigned citing internal group reorganization, and Mr. Prakash Khose (a mechanical engineer with 34 years of experience in automotive, aerospace, and defence) was appointed as the new CEO with effect from August 12, 2025. The board also appointed a new Cost Auditor for FY26 and a new Secretarial Auditor for a five-year term (FY26–FY30), and deferred its planned preferential issue fund raise due to current market volatility.
Sharp year-on-year declines in both revenue and profit for Q1 FY26 are negative signals for near-term earnings momentum, though the CEO transition and deferred fund raise are administrative in nature. Shareholders should watch whether the new leadership can stabilize margins and whether the company resumes its capital raise plans when markets improve.