The Board has at its meeting held today approved the re-appointment of Mr. Drapan Shah (DIN: 07650896) as the Managing Director for a further term of 5 years effective from 13th February ....
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At a board meeting on 13th February 2026, Nidhi Granites approved its December quarter (Q3 FY26) financial results, the re-appointment of Managing Director Darpan Shah for another 5 years starting the same day, and the relocation of its registered office from Andheri East to Malad West effective 1st April 2026. On a standalone basis the company reported a net loss of Rs. 32.30 lakhs in Q3 FY26 against a profit of Rs. 13.90 lakhs in Q3 FY25, with nine-month FY26 losses of Rs. 93.29 lakhs. On a consolidated basis, however, net profit rose sharply to Rs. 220.61 lakhs in Q3 FY26 (vs Rs. 94.22 lakhs YoY) and to Rs. 573.81 lakhs for nine months, driven by a new Financial Technology segment added after the April 2025 acquisition of Paynov8 (formerly Auro Fintech) for Rs. 60.57 lakhs. Consolidated revenue grew to Rs. 1,555.07 lakhs in Q3 from Rs. 1,341.49 lakhs YoY, with paper contributing the bulk and fintech contributing Rs. 416.29 lakhs. MD Darpan Shah, who has 25+ years of payments and banking experience (JP Morgan, Yes Bank, IndusInd Bank), is married to CFO Kavita Shah.
Leadership continuity is assured with the MD's 5-year re-appointment, while consolidated profits have more than doubled YoY thanks to the new fintech subsidiary, masking weak standalone operations. Investors should watch how the fintech segment scales and whether standalone losses reverse.