Pursuant to regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors ....
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Nikhil Adhesives' Board approved Q1 FY26 (quarter ended June 30, 2025) unaudited standalone results. Revenue from operations fell to Rs. 12,347.14 lakhs vs Rs. 16,116.64 lakhs in Q1 FY25, a decline of about 23%. Profit after tax dropped to Rs. 356.74 lakhs vs Rs. 503.86 lakhs (~29% lower), and EPS slipped to Rs. 0.78 from Rs. 1.10. The Board recommended appointing PHD & Associates as Statutory Auditor for a 5-year term (FY 2025-26 to FY 2029-30), subject to AGM approval, and M/s Somani & Associates as Secretarial Auditor for 5 years. The 39th AGM is fixed for September 23, 2025 via video conferencing. The Board also reconstituted all key committees and voluntarily adopted a Risk Management Committee. The company disclosed a change in inventory valuation from FIFO to Weighted Average method (retrospectively applied) and a strategic decision to scale down the trading division and focus on manufacturing.
The sharp YoY decline in both revenue and profit, partly due to the trading division wind-down, is a negative signal for short-term earnings, though the manufacturing focus may improve margins over time. The auditor change and full board committee reconstitution suggest governance housekeeping, while the inventory accounting change improves comparability with peers.