NIS Management Ltd has obtained a stay order from the Hon'ble High Court at Calcutta regarding a demand for damages amounting to ₹2.17 crore issued by the Employees' State Insurance Corporation (ESIC). The stay suspends proceedings related to the recovery of these dues until December 15, 2026, or until further orders by the court, whichever is earlier.

The company filed a Writ Petition challenging various notices received from ESIC seeking payment or recovery of the specified damages. The court's intervention provides temporary relief to the facility management firm while the legal challenge proceeds.

Details of the Legal Proceedings

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key details of the development are outlined below:

The company challenged the validity of the notices and the proposed recovery action before the High Court. The stay order effectively halts any coercive action by ESIC to recover the amount during the specified period.

Regulatory Disclosure Context

This update follows the standard reporting requirements for listed entities regarding material developments in litigation. The filing confirms that the litigation does not involve key management personnel, promoters, or ultimate persons in control, as those fields were marked "Not Applicable" in the regulatory annexure. Similarly, no settlement terms have been reached at this stage.

NIS Management Limited secured work orders aggregating ₹120.14 crore since its listing on the BSE SME platform in September 2025. The diversified services provider outlined this growth trajectory and its strategic priorities at its first Annual General Meeting held on September 25, 2026.

The company reported total income of ₹436.70 crore for FY26, registering a growth of 7.74% over ₹405.33 crore in FY25. EBITDA increased by 12.19% to ₹33.53 crore, with margins improving to 7.68%. Adjusted Profit After Tax stood at ₹19.12 crore. Q4 FY26 was the strongest quarter in the company’s history, with total income of ₹118.03 crore and an EBITDA margin of 9.41%.

Key resolutions passed

Shareholders considered and approved two primary items of ordinary business during the session:

1. Adoption of the audited standalone and consolidated financial statements for FY26, along with the reports of the Board of Directors and Auditors.
2. Re-appointment of Nilima Neogi (DIN: 8165984), who retired by rotation and offered herself for re-appointment as Executive Director.

Order book highlights

Since its IPO, NIS has expanded its presence across government, public-sector and private-sector clients. Key orders include:

• Reliance Group: ₹30.77 crore from Reliance Projects & Property Management Services Limited and an additional ₹14.94 crore mandate.
• Bihar: Two five-year contracts worth ₹19.57 crore and ₹14.65 crore from the Building Construction Department, Patna, and an additional ₹10.36 crore order from the Central Building Division.
• West Bengal: ₹11.90 crore from West Bengal State Electricity Distribution Company Limited, alongside mandates from the Irrigation & Waterways Directorate, WEBEL and the Public Works Department.
• Maharashtra: ₹2.18 crore CCTV surveillance mandate from Mumbai Police, secured by the Company’s electronic security subsidiary.
• Skill Development: ₹7.93 crore DDU-GKY project from ORMAS, Odisha, and ₹1.50 crore from the Government of West Bengal.

Financial performance overview

The company’s balance sheet strengthened, with net worth reaching ₹196 crore and the debt-to-equity ratio declining to 0.42x. The workforce has expanded to more than 19,100 employees, supporting operations across approximately 1,500 sites in fourteen states.

Strong start to FY27

NIS continued its growth momentum in FY27, reporting total income of ₹115.44 crore, up 15.68% year-on-year. EBITDA increased by over 36%, while Profit After Tax grew by 35% to ₹6.40 crore. ICRA reaffirmed its short-term rating at A2 and revised its long-term outlook from BBB+ Stable to BBB+ Positive. NIS SME also received Rhodium status under the State Bank of India's SME Star Rating Programme in August 2026.

What the numbers show

The divergence between FY26 revenue growth (7.74%) and FY27 Q1 revenue growth (15.68%) suggests that several contracts commenced towards the latter part of FY26 are beginning to contribute significantly to the top line. With a debt-to-equity ratio of 0.42x and net worth of ₹196 crore, the company has maintained a conservative balance sheet while scaling operations, providing headroom for the targeted ₹500 crore consolidated revenue in FY27.

Voting and scrutiny process

Himanshu Gupta of Himanshu S K Gupta & Associates was appointed as the scrutinizer to oversee the e-voting process. The Chairman stated that the voting results would be announced within 48 hours of the meeting's conclusion. These results are scheduled to be uploaded on the company’s investor relations website and made available on the Bombay Stock Exchange platform.

The meeting concluded at 12:36 pm with a vote of thanks to the shareholders for their participation.