National General Industries Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, issued by M/s. Deepak Bansal & Associates, confirms the company's compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance Status

The practicing company secretary examined the entity's documents, records, and filings for the review period. The report confirms that the listed entity has complied with the provisions of the specified regulations and circulars. No deviations or violations were reported during the audit period.

Key Observations

The report highlights several specific compliance areas and actions taken by the company during the year:

Share Forfeiture Details

The Board of Directors, at their meeting held on November 14, 2025, approved the forfeiture of amounts received against partly paid shares. This decision was made due to the non-payment of the remaining call money.

The forfeiture was approved in compliance with the Companies Act, 2013, and SEBI (LODR) Regulations, 2025. BSE Limited, CDSL, and NSDL also accorded their respective approvals for the same.

Additional Disclosures

The report notes that there were inter-se transfers amongst promoter shareholders during the year based on gifts to immediate relatives. These transfers were conducted in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and the SEBI (Prohibition of Insider Trading) Regulations, 2015. No statutory auditors resigned during the financial year, and no actions were taken by SEBI or stock exchanges against the entity or its promoters.

National General Industries Limited announced its unaudited financial results for the quarter and nine months ended 31st December, 2025, showcasing mixed performance across different periods. The Board of Directors approved these results at their meeting held on 12th February, 2026, along with other significant corporate decisions.

Quarterly Financial Performance

The company's Q3FY26 performance showed modest growth in revenue but declining profitability compared to the previous year. Key quarterly metrics demonstrate the operational challenges faced during the period.

Nine-Month Performance Analysis

The nine-month period revealed more significant challenges, with the company reporting substantial declines in both revenue and profitability. The steel segment, which forms the core business, experienced notable pressure during this period.

Segment-wise Performance

National General Industries operates primarily in two segments - Steel and Others. The steel segment generated revenue of ₹273.04 lakhs in Q3FY26 compared to ₹262.75 lakhs in Q3FY25. The 'Others' segment, consisting mainly of investment income, contributed ₹59.33 lakhs in Q3FY26 versus ₹35.85 lakhs in the corresponding previous quarter.

Corporate Actions and Developments

The Board approved several important decisions during their meeting. The company will shift its registered office within New Delhi from the 3rd Floor to the 1st Floor of Surya Plaza, effective 16th February, 2026. Additionally, the company completed the forfeiture of 10,47,600 partly paid-up equity shares of face value ₹10 each, which had unpaid allotment money. This forfeiture was approved by BSE Limited on 30th January, 2026.

Financial Position and Outlook

The company's total segment assets stood at ₹4,023.22 lakhs as of 31st December, 2025, compared to ₹3,097.92 lakhs in the previous year. The paid-up equity share capital remained at ₹474.46 lakhs. The results were reviewed by the Audit Committee and approved by the Board, with statutory auditors R.K. Govil & Co. conducting a limited review of the financial statements.