Disclosure of reason for delay in submission of Audited Financial Results (Standalone & Consolidated) for the quarter & year ended March 31, 2025 under Regulation 33 of SEBI (LODR) Regulations, 2015
NIMBSPROJ · price
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Nimbus Projects Ltd has explained to BSE why it delayed submitting its audited financial results for the quarter and year ended March 31, 2025. The delay was caused by a scheme of amalgamation under which 9 transferor companies (Gupta Fincaps, Urvashi Finvest, Intellectual Securities, Happy Graphics, Link Vanijya, Dynamo Infracon, Pushpak Trading, Mokha Vyapaar, and Padma Estates) were merged into Nimbus Projects with an appointed date of April 1, 2022, following NCLT orders in January-February and April 2025. The merger forced the company to consolidate newly acquired subsidiaries and associates that previously followed IGAAP, requiring a switch to IND-AS accounting standards and changes in accounting policies, which significantly delayed finalization. The Board meeting ran over 8 hours on May 30, 2025, and the audited results were eventually filed with BSE in the early hours of May 31, 2025. The company has apologized for the procedural lapse and requested BSE to condone the delay.
This is a procedural disclosure — the financial results have already been submitted, so there is no direct price impact. However, investors should note that Nimbus Projects has substantially expanded its group structure through the merger and is reporting under IND-AS for the first time with consolidated subsidiaries, which may make future results less directly comparable with earlier periods.