Nitco Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Nitco Limited reported standalone revenue from operations of Rs 53,971.43 lakhs for FY2026, a jump of ~73% from Rs 31,177.19 lakhs in FY2025, driven by strong tiles business growth and Rs 5,842 lakhs from a Joint Development Agreement at Alibaug. The company swung to a net profit of Rs 3,422.17 lakhs from a net loss of Rs 73,621.11 lakhs in the prior year, helped by a large impairment reversal of Rs 1,650 lakhs on Alibaug factory PPE. However, Q4 standalone showed a loss of Rs 635.52 lakhs. An exceptional item of Rs 400.13 lakhs was recorded due to the New Labour Code's impact on gratuity and leave liability. Statutory auditors issued an unmodified opinion but drew emphasis of matter on nine items including a Rs 17,000 lakh unprovided DGFT penalty, unprovided Rs 855.22 lakh capital advance to Saumya Buildcon, pending balance confirmations, and the Kanjurmarg property sale (advance of Rs 14,300 lakhs received). Key management appointments were made including Kamal Abrol as CFO and Amit Dhawan as Senior Advisor.
The strong revenue growth and return to profitability are positives, but investors should note the multiple emphasis of matter items — particularly the Rs 17,000 lakh DGFT penalty and pending receivables/confirmations — which increase risk and warrant close monitoring in future quarters.