NBI Industrial Finance Company Ltd has reported the demise of Shri Ashok Bhandari, who served as the Chairman and Non-Executive Director of the company. The Board of Directors confirmed that Shri Ashok Bhandari passed away on August 03, 2026. This development marks a significant leadership change for the Kolkata-based non-banking financial company, which has notified stakeholders of the loss through formal regulatory channels.

The company filed an intimation with the National Stock Exchange of India Ltd (NSE) on August 03, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The disclosure was signed by Ashish Kedia, the Company Secretary and Compliance Officer. In addition to the primary regulatory filing, the company referenced SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015, in its annexed details regarding the cessation of directorship.

Shri Ashok Bhandari held the Director Identification Number (DIN) 00012210. According to the regulatory filing, he did not hold directorships in any other listed entities at the time of his passing. The company stated that his unexpected demise is an irreparable loss and extended deep sympathy and condolences to his family from all directors and employees.

Regulatory Disclosures

The following details were provided in Annexure-I of the filing submitted to the exchange:

As per standard corporate governance practices, the company will likely initiate proceedings to appoint a successor to fill the casual vacancy in the Board of Directors. Shareholders are advised to monitor future disclosures regarding board composition changes.

Iris Clothing Limited reported a significant year-on-year improvement in its financial performance for the quarter ended 30th June, 2026 (Q1FY27), with net profit rising sharply and revenue recording healthy growth. The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 27th July, 2026, and have been audited by the Statutory Auditors in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Q1FY27 Financial Performance

Iris Clothing Limited posted a net profit of ₹401.24 lakh for Q1FY27, a notable increase from ₹263.01 lakh recorded in Q1FY26, reflecting strong year-on-year growth. Revenue for the quarter came in at ₹4,728.31 lakh, up from ₹3,742.59 lakh in the corresponding quarter of the previous year. Total expenses for the quarter stood at ₹4,190.02 lakh, compared to ₹3,379.32 lakh in Q1FY26. Tax expense for the quarter was ₹137.05 lakh against ₹100.26 lakh in the year-ago period. Other comprehensive income of ₹4.25 lakh was recorded during the quarter, taking total comprehensive income to ₹405.49 lakh.

The following table presents the key financial metrics for Q1FY27 in comparison with Q1FY26 and the most recent audited quarter (Q4FY26):

Earnings Per Share

Earnings per share (face value of ₹2/- each) for Q1FY27 stood at ₹0.21 on both a basic and diluted basis, compared to ₹0.14 in Q1FY26 and ₹0.34 in Q4FY26. The paid-up equity share capital of the company as of 30th June, 2026 was ₹3,806.63 lakh, unchanged from the audited figure as of 31st March, 2026.

Proposed Acquisition of Infinita Lifestyle Private Limited

In a significant corporate development, the Board of Directors approved a proposal to acquire a 51% stake in Infinita Lifestyle Private Limited at its meeting held on 8th July, 2026. The proposed acquisition is subject to obtaining shareholder approval and such other regulatory approvals as may be required under applicable laws. The company has no subsidiaries, associates, or joint ventures as on 30th June, 2026, and therefore is not required to prepare consolidated financial statements.

Business Overview and Reporting Standards

Iris Clothing Limited operates in a single business segment, predominantly engaged in the manufacturing and trading of garments, as envisaged under Ind AS 108 – Segment Reporting. The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs under the Companies (Indian Accounting Standard) Rules, 2015. Figures for the quarter ended 31st March, 2026 represent balancing figures between the audited full-year figures and the published year-to-date figures up to the third quarter of the relevant financial year. Previous period figures have been regrouped wherever necessary.