Unaudited Standalone Financial results for quarter and three months ended 30th June 2025
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On the reaction day the stock moved 12.2 pts less than Nifty Microcap 250 and 11.7 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Nikhil Adhesives Limited reported weak Q1 FY26 results with revenue from operations falling to Rs. 12,347.14 lakhs from Rs. 16,116.64 lakhs in the same quarter last year, a decline of about 23%. Profit before tax dropped to Rs. 467.19 lakhs (vs Rs. 650.51 lakhs) and profit after tax fell to Rs. 356.74 lakhs (vs Rs. 503.86 lakhs), down roughly 29% year-on-year. EPS slipped to Rs. 0.78 from Rs. 1.10. The company changed its inventory valuation method from FIFO to Weighted Average (raw materials/packing) and Standard Cost (others), and restated all prior period numbers, with a cumulative Rs. 59.82 lakhs hit on opening retained earnings as of April 1, 2024. Management said the company is scaling down its low-margin trading division to focus on manufacturing. The auditor (Jay Shah & Associates) gave an unqualified limited review report, and the board proposed appointing PHD & Associates as the new statutory auditor for FY26–FY30.
Negative near-term sentiment: sharp YoY decline in revenue and profit suggests demand weakness and likely margin pressure as the company exits trading. The change in accounting policy and auditor change add short-term noise but are presented as improving comparability and governance.