Nitco Limited has informed the Exchange about change in Management
NITCO · price
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Nitco Limited's Board, at its February 12, 2026 meeting, approved the Q3 FY26 (quarter ended December 31, 2025) unaudited standalone and consolidated financial results. Standalone revenue from operations for Q3 rose to Rs. 13,117.76 lakhs from Rs. 8,404.98 lakhs a year earlier, but the company posted a loss after exceptional items of Rs. 1,061.47 lakhs in the quarter versus a profit of Rs. 198.51 lakhs in Q2 FY26, mainly due to a Rs. 400.13 lakh one-time gratuity and leave liability charge from the new labour code. For 9M FY26, the company swung to a profit after tax of Rs. 4,057.69 lakhs from a loss of Rs. 73,427.06 lakhs in 9M FY25, driven partly by a Rs. 5,842 lakh one-time income from an Alibaug land joint development agreement. The Board also approved the re-appointment of Mr. Vivek Prannath Talwar as Managing Director and redesignated him as 'Executive Chairman' for 3 years effective April 01, 2026, subject to shareholder approval; the filing notes he is the brother of Ms. Poonam Talwar, an existing Non-Executive Director. Additionally, the Board approved giving loans, guarantees or securities up to Rs. 100 crores to subsidiaries, associates, joint ventures, group entities or related parties and adopted updated governance policies.
Management continuity is maintained as the existing promoter-family Chairman & MD is re-appointed and elevated to Executive Chairman, which may provide short-term stability but further consolidates family control at the top. Investors should note the unresolved Rs. 17,000 lakh DGFT penalty (no provision made), Rs. 855.22 lakh unrecovered capital advance, and ongoing ESOP-related charges as key risk overhangs despite the strong year-on-year revenue growth.