This is to inform you that the Board of Directors at its meeting held on Thursday, August 07, 2025, has inter-alia consider and approved;1. Un-audited Financial Results for the quarter ended June 30, 20252. Recommendation the appointment of M/s. A. K. Friends & Co., Practicing Company Secretary as the Secretarial Auditor of the Company for a term of 5 consecutive years i.e. commencing from FY 2025-26 till FY 2029-30, subject to approval by the Shareholders at the ensuring Annual General Meeting (AGM).3. The Annual General Meeting of the Company is scheduled to be held on Friday, September 26, 2025.
NECCLTD · price
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NECC's board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations rose about 13.5% year-on-year to Rs. 88.10 crore from Rs. 77.63 crore, and total income came in at Rs. 88.36 crore versus Rs. 78.00 crore last year. Despite the revenue growth, net profit fell sharply to Rs. 1.78 crore from Rs. 3.67 crore, a drop of roughly 51%, as operating and direct costs stayed elevated at Rs. 56.57 crore and total expenses rose. The statutory auditor (Nemani Garg Agarwal & Co.) issued a modified review with three observations: no provision made for doubtful debts, non-recognition of Right-to-Use lease assets, and debit/credit balances still pending confirmation. The board also recommended appointing M/s. A.K. Friends & Co. as Secretarial Auditor for a 5-year term (FY26-FY30), subject to shareholder approval at the AGM on September 26, 2025.
Profit collapsed while revenue grew, signalling clear margin pressure and weak cost control that is likely to be viewed negatively by investors. The auditor's modified observations on bad-debt provisioning and unconfirmed balances add some governance overhang, though the proposed secretarial auditor appointment is routine and the AGM date is standard.