Nitco Limited has informed the Exchange regarding Outcome of Board Meeting held on May 02, 2025.
NITCO · price
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The Board of Nitco Limited approved audited financial results (standalone and consolidated) for Q4 and FY ended March 31, 2025. Standalone revenue from operations fell to Rs. 31,177 lakhs in FY25 from Rs. 32,301 lakhs in FY24. The company reported a massive standalone loss of Rs. 73,621 lakhs and a consolidated loss of Rs. 74,121 lakhs for the full year, primarily due to a one-time exceptional loss of Rs. 47,315 lakhs linked to debt restructuring with Authum Investment & Infrastructure Ltd (AIIL). EPS swung to Rs. (74.09) from Rs. (21.79) in FY24. The Board also appointed M/s. SKPAG & Co. as Internal Auditors for FY26 and M/s. Mihen Halani & Associates as Secretarial Auditors for a 5-year term (FY26–FY30).
Massive equity dilution has occurred—promoter holding fell from 46.79% to 16.23% while AIIL now owns 49.19% of the company after Rs. 46,324 lakhs raised via preferential allotment and debt-to-equity conversion. While debt restructuring addresses legacy issues and auditors flagged no going concern uncertainty, the steep FY25 loss, hefty DGFT penalty exposure (Rs. 17,000 lakhs), and major shareholding shifts make this a high-risk, high-event filing for existing retail shareholders.