Nova Agritech Limited has informed the Exchange regarding Outcome of Board Meeting regarding Re-Appointment of Internal & Cost Auditors
NOVAAGRI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nova Agritech reported a significant revenue decline in FY2026. Standalone revenue fell by 53% to ₹7,801.50 lakhs from ₹16,585.58 lakhs in FY2025, while consolidated revenue declined 11% to ₹26,159.42 lakhs. The company attributed this to a temporary suspension of manufacturing and marketing operations for its registered biostimulant products due to a delayed renewal of its Fertiliser Marketing Authorization License. The license was renewed on 20 January 2026 and operations have fully resumed. Standalone PAT dropped 76% to ₹393.92 lakhs, and consolidated PAT fell 53% to ₹1,283.84 lakhs. The auditors issued unmodified (unqualified) opinions with an Emphasis of Matter paragraph highlighting the revenue decline. The Board reappointed V P S & Associates as Internal Auditors and M P R & Associates as Cost Auditors for FY 2026-27.
The steep revenue decline is concerning, but management classifies it as temporary and operationally resolved. Shareholders should monitor whether FY2027 revenue rebounds to prior levels, as this was a one-time regulatory-related disruption rather than a structural business weakness.