Nicco Parks & Resorts has issued a postal ballot notice dated August 13, 2026, seeking member approval for the appointment of two new directors. The resolutions cover the induction of Mr. Soumitra Sankar Sengupta as a Nominee Director and Mr. Shiv Siddhant Narayan Kaul as a Non-Executive, Non-Independent Director.

The company will conduct remote e-voting through National Securities Depository Limited (NSDL). The voting window commences on September 17, 2026, at 9:00 am and concludes on October 16, 2026, at 5:00 pm. Members holding shares as of the cut-off date, September 11, 2026, are eligible to vote.

Board Appointments

The postal ballot seeks approval for two ordinary resolutions regarding board composition:

• Mr. Soumitra Sankar Sengupta: Appointment as a Nominee Director representing West Bengal Tourism Development Corporation Limited (WBTDC). He replaces Mr. Abhishek Kumar Tiwary, whose nomination was withdrawn by the Department of Tourism, Government of West Bengal.
• Mr. Shiv Siddhant Narayan Kaul: Appointment as a Non-Executive, Non-Independent Director. He is currently the Managing Director of Nicco Engineering Services Limited.

Both appointees were initially appointed as additional directors on July 20, 2026, and are liable to retire by rotation upon confirmation by shareholders.

Director Profiles

Mr. Sengupta brings administrative expertise from his role as a 2009-batch IAS officer and Managing Director of WBTDC. Mr. Kaul holds a Master’s degree in Operation Research and Financial Engineering from Princeton University and possesses significant exposure to the theme parks industry.

Voting Process

In compliance with Ministry of Corporate Affairs circulars, the notice is being dispatched electronically only to members with registered email addresses. Physical copies are not being sent. Shareholders can access the e-voting facility via the NSDL platform or their depository participants.

The Company Secretary, Ankit Kumar Bhardwaj, confirmed that the results will be declared immediately after the conclusion of the e-voting period on October 16, 2026.

Nicco Parks & Resorts reported a widened net loss in its first quarter of FY27, reflecting continued pressure on its amusement park and resort operations in Kolkata. The company posted a standalone net loss of ₹72.87 lakh for the quarter ended June 30, 2026, compared to a net loss of ₹31.58 lakh in the same period last year. This deterioration follows a pre-tax loss that expanded to ₹82.78 lakh from ₹54.47 lakh year-on-year.

Revenue performance also softened, with total income from operations falling 26.8% year-on-year to ₹19.05 crore, down from ₹26.29 crore in Q1FY26. The decline coincides with ongoing regulatory uncertainties regarding the lease agreement for the land hosting the company’s primary assets.

Financial Performance

The consolidated financial results mirrored the standalone figures, with total income remaining flat at ₹19.05 crore due to the absence of significant subsidiary contributions impacting the top line differently. The consolidated net loss stood at ₹72.24 lakh, slightly lower than the standalone loss.

Note: Previous year figures derived from disclosed EPS and share capital data where direct quarterly net profit was not explicitly tabulated in the extract but implied by the comparison context.

What the Numbers Show

The divergence between the relatively stable equity base and the deteriorating profitability highlights the fixed-cost burden on the company. With other equity standing at ₹99.44 crore as of March 31, 2026, the current quarter’s loss represents a minor erosion of net worth. However, the 27% drop in revenue suggests that visitor footfalls or ticket pricing have been impacted by the operational limbo surrounding the lease status.

Operational Challenges

The primary headwind remains the unresolved lease renewal with the Department of Tourism, Government of West Bengal. The initial 33-year lease term expired on February 28, 2023. Although the management states that an application for renewal is under active consideration and principle approval has been given, the formal agreement remains unexecuted.

Compounding this issue, the state government repossessed approximately 1.46 acres of land used for F&B and recreational facilities in November 2025. Pending formalization of new arrangements, Nicco Parks continues to manage these operations on behalf of the West Bengal Tourism Development Corporation Limited (WBTDCL). The company recognized management and supervision charges of ₹5.48 lakh for the quarter, a sharp decline from ₹31.10 lakh in the preceding quarter ended March 2026.

Board Actions and Dividend

Despite the loss, the Board of Directors approved an interim dividend of 25 paise per equity share of face value ₹1 each. The board also noted provisions for employee benefit expenses related to the implementation of the new Labour Codes notified by the Government of India in November 2025.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board at its meeting held on August 13, 2026. The statutory auditors have conducted a limited review of the results.