Nicco Uco Alliance reports net loss of ₹1585.51 lakh in FY26

Nicco Uco Alliance Credit Limited reported a net loss of ₹1585.51 lakh for the financial year ended March 31, 2026, widening from a loss of ₹1383.18 lakh in the previous year. The company’s board of directors approved the audited standalone and consolidated financial results for the fourth quarter and fiscal year ended March 31, 2026, during a meeting held on May 19, 2026.

Financial Performance

For the year ended March 31, 2026, the company recorded a total income of ₹44.60 lakh, compared to ₹16.71 lakh in the previous year. Total expenses for the period stood at ₹1630.05 lakh, up from ₹1409.91 lakh in FY25. The basic and diluted earnings per share (EPS) for the year were reported at negative ₹1.91, compared to negative ₹1.74 in the prior year.

Audit and Regulatory Compliance

The statutory auditors, BCAG & Associates, issued a qualified opinion on the financial statements. The qualifications primarily relate to the cancellation of the company’s NBFC registration by the Reserve Bank of India (RBI) and the non-confirmation of balances by banks and financial institutions where accounts have turned non-performing assets (NPAs). The company has preferred an appeal against the RBI order and stated that the accounts have been prepared on a going concern basis based on legal opinion.

The company submitted the results to BSE Limited in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The extract of the financial results will be published in English and Bengali newspapers pursuant to Regulation 47.

Metric	FY26 (₹ in Lacs)	FY25 (₹ in Lacs)
Total Income	44.60	16.71
Total Expenses	1630.05	1409.91
Net Profit/Loss	(1585.51)	(1383.18)
EPS (Basic)	(1.91)	(1.74)

The communication to the stock exchange was signed by Sanjushree Paul, the Company Secretary & Compliance Officer.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE917B01023/634f8f78-92eb-439d-b6b7-6faaded8a2f0.pdf

Nicco UCO Alliance Credit Limited has issued a formal notice dated May 08, 2026, convening a meeting of its Board of Directors on Tuesday, May 19, 2026, at 02:00 PM. The meeting is scheduled to be held at the company's registered office at Nicco House, 2nd Floor, 2, Hare Street, Kolkata – 700 001. The notice was issued by Sanjushree Paul, Company Secretary and Compliance Officer, with a copy marked to Mr. M. Chatterjee, CFO.

Board Composition

The meeting notice was addressed to the following members of the Board of Directors:

Designation:	Name
Chairman	Mr. Uditentu Sarkar
Managing Director & CEO	Mr. Kaustubha Basu
Director	Mr. P K Nag
Director	Ms. Anita Lahiri
Additional Director	Mr. Abhijit Banerjee

Key Agenda Items

The board meeting carries a detailed 32-point agenda spanning governance, financial reporting, compliance, and administrative matters. The following table highlights the major items scheduled for consideration:

Agenda Item:	Details
Financial Results Approval	Standalone and consolidated financial results for the 4th quarter and audited financial statements for the year ended March 31, 2026
Internal Audit Report	Approval of Internal Audit Report for the half-year ended March 31, 2026
Director Re-appointment	Re-appointment of Non-Independent Woman Director Mrs. Anita Lahiri (DIN: 10520216), who retired by rotation
Independent Director Appointment	Appointment of Mr. Abhijit Banerjee (DIN: 11398136) as Independent Director, subject to shareholder approval
MD & CEO Re-appointment	Re-appointment of Mr. Kaustubha Basu (DIN: 10185801), above age 70, as Managing Director & CEO for a further term of three (3) years, subject to shareholder approval
Secretarial Auditor Appointment	Appointment of a Practicing Company Secretary as Secretarial Auditor for five (5) consecutive years, subject to shareholder approval
Internal Auditor Appointment	Appointment of M/s. Dey Chakraborty & Sen, Practicing Chartered Accountants, as Internal Auditor for FY 2026-2027
42nd AGM	Approval of date, time, venue, and notice of the 42nd Annual General Meeting along with the Explanatory Statement
Book Closure	Notice of Book Closure pursuant to Section 91(5) of the Companies Act, 2013 for FY 2025-2026
Subsidiary Loan Proposal	Consideration of Audit Committee recommendation regarding a loan from subsidiary Nicco Insurance Agents & Consultants Limited (NIACL)

Compliance and Governance Matters

The agenda also encompasses a range of statutory compliance and corporate governance items. These include:

Noting the minutes of the previous Audit Committee meeting held on February 12, 2026
Noting the minutes of the previous Stakeholder Relationship Committee meeting held on February 12, 2026
Noting the minutes of the previous Nomination & Remuneration Committee meeting held on March 19, 2026
Confirmation of the minutes of the previous Board meeting held on March 19, 2026
Disclosures of Directors' interest under Sections 184 and 189 of the Companies Act, 2013
Disclosures of Directors' non-disqualification status under Section 164(2) of the Companies Act, 2013
Declaration of Independence by Independent Directors under Section 149(7) of the Companies Act, 2013 and Regulation 25 of SEBI (LODR), 2015
Noting SEBI (LODR) compliance for the 4th quarter ended March 31, 2026, pursuant to Regulation 6(2)(b)
Review of investor complaints and grievances received and resolved during the quarter ended March 31, 2026, pursuant to Regulation 13(3) of SEBI (LODR) Regulations, 2015
Approval of the Board of Directors' Report and Corporate Governance Report for FY 2025-2026
Approval of the Secretarial Audit Report and Secretarial Compliance Report for FY 2025-2026
Approval of E-Form DPT-3 filing for FY 2025-2026

Legal Proceedings Update

The board is also scheduled to note the present status of several ongoing legal matters, including:

Legal proceedings pending before the Court of the Learned Executive and Judicial Magistrate (Bankshall Court), Kolkata (Misc. Case No. 215 of 2025) and City Civil Court at Kolkata (Title Suit No. 2565 of 2025)
Legal proceedings filed before the Bankshall Court, Kolkata (Misc. Case No. 250 of 2025)
Legal proceedings initiated by UCO Bank before the Debt Recovery Tribunal (DRT) bearing Original Application No. 118 of 2005
Appeal filed by UCO Bank before the Hon'ble NCLAT against the order of the Hon'ble NCLT, Kolkata

Additional administrative items on the agenda include authorization of company officials to authenticate E-Forms for FY 2026-2027, delegation of authority for investment dealings for FY 2026-2027, appointment of a Scrutinizer to conduct the voting process at the 42nd Annual General Meeting, and any other matter with the permission of the Chairman.