Outcome of Board meeting - Financial Results
NITCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nitco Limited reported audited standalone financial results for FY26 with total income of Rs 5,481 lakhs compared to Rs 3,247 lakhs in FY25, marking significant improvement from the prior year's massive loss of Rs 73,621 lakhs. The Q4 standalone result shows a loss of Rs 635.52 lakhs. Key highlights include appointment of Mr. Kamal Abrol as new CFO, monetization of Kanjurmarg land for Rs 143 crores with R Siddhatva Developers, and disposal of Alibaug factory PPE. Auditors issued unmodified opinion but drew emphasis on a Rs 17,000 lakh DGFT penalty (not provided for), Rs 855.22 lakh unimpaired capital advance, and pending property transactions. Exceptional item of Rs 400.13 lakhs relates to New Labour Code implementation.
The company has turned around from massive losses in FY25 to profitability in FY26, though Q4 showed continued losses. The large contingent liability from DGFT penalty and unimpaired advances represent risk factors. Asset monetization through property sales should improve liquidity.