Narmada agrobase Limited announced the resignation and appointment of internal auditors following regulatory compliance requirements under the Companies Act, 2013 and SEBI Listing Regulations. The company filed comprehensive disclosures with both NSE and BSE on March 28, 2026, detailing the transition in its internal audit function.

Auditor Transition Details

The company processed two significant changes in its internal audit arrangements effective March 28, 2026. M/s. Rajesh Bhati & Associates tendered their resignation, while M/s. Hanish Agrawal & Associates was simultaneously appointed as the new internal auditor.

Resignation Background

CA Rajesh Kumar, Proprietor of M/s. Rajesh Bhati & Associates (Membership No: 177156), submitted his resignation citing preoccupation and other personal commitments. The chartered accountant firm confirmed that no material reasons beyond those stated contributed to the resignation decision. In their resignation letter dated March 28, 2026, the firm expressed gratitude for the cooperation received during their tenure and wished the company future success.

New Auditor Appointment

M/s. Hanish Agrawal & Associates brings substantial expertise to the internal auditor role. Mr. Hanish Rameshbhai Agrawal, the firm's principal, possesses over 8 years of extensive experience in taxation, auditing, accounting, and regulatory compliance. His professional competencies include:

• GST and TDS compliance management
• Corporate compliance filings
• Risk assessment and management
• Internal process optimization
• Financial and taxation analysis

Regulatory Compliance Framework

The appointment aligns with compliance requirements under the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company fulfilled its disclosure obligations under Regulation 30 read with Schedule III of the Listing Regulations, providing comprehensive details as required by SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Neerajkumar Sureshchandra Agarwal, Chairman and Managing Director, signed the official communications to stock exchanges with digital signatures, ensuring proper regulatory compliance and transparency in the transition process. The notifications included detailed annexures outlining reasons for change, appointment dates, and professional profiles as mandated by regulatory requirements.

Narmada Agrobase Limited has delivered a strong financial performance in the third quarter of FY26, demonstrating significant revenue growth despite challenging market conditions. The Gujarat-based company, engaged in agricultural products, reported its unaudited results for the quarter ended December 31, 2025, showcasing robust operational metrics across key financial parameters.

Financial Performance Overview

The company's quarterly performance reflects strong operational execution with notable improvements in revenue generation. Total income from operations reached ₹2,135.35 lakhs in Q3 FY26, representing a substantial increase from the previous year's corresponding quarter.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Narmada Agrobase maintained steady performance across most financial metrics. The company generated total income from operations of ₹4,438.89 lakhs compared to ₹3,638.09 lakhs in the corresponding nine-month period of the previous year, reflecting a growth of 22.01%.

Investor Presentation Release

Following the strong quarterly results, Narmada Agrobase Limited has released its comprehensive investor presentation for Q3 & 9M FY26 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The presentation, dated February 20, 2026, provides detailed insights into the company's business segments, growth drivers, and strategic initiatives.

Business Segments and Growth Strategy

The investor presentation highlights the company's diversified business portfolio spanning cattle feed and cottonseed products. The company operates with well-known brands including "Narmada Super", "Gaay Chhaap", and "Churma", maintaining a 99% client retention rate. The presentation outlines key growth drivers including product diversification with pelletized cattlefeed and molasses-enriched feed blocks, regional market expansion into Maharashtra and Punjab-Haryana, and international expansion into Southeast Asia, the Middle East, and Africa.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 13, 2026. The results comply with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The investor presentation and complete financial results are available on the company's website at www.narmadaagrobase.com and on stock exchange websites. The company maintains a stable capital structure with paid-up equity share capital of ₹3,793.64 lakhs.