Nidhi Granites Limited has scheduled its 44th Annual General Meeting for July 22, 2026, via video conferencing. The record date to determine shareholder eligibility for voting is July 15, 2026. The meeting will cover the financial results for the year ended March 31, 2026, where the company reported a consolidated profit of ₹767.77 lakh, a significant increase from the previous year's ₹191.85 lakh.

The company’s standalone financial results for the year ended March 31, 2026, show a loss of ₹126.56 lakh, reversing the profit of ₹101.32 lakh recorded in the previous year. Standalone revenue from operations remained flat at ₹17.34 lakh. The divergence between standalone and consolidated performance is attributed to the company’s subsidiaries, particularly Paynov8 Private Limited, which was acquired during the year.

Consolidated Financial Performance

The group’s total income increased to ₹6,548.73 lakh in FY26 from ₹4,733.05 lakh in FY25. The profit before tax for the year stood at ₹1,075.16 lakh, significantly higher than the ₹252.75 lakh reported in the previous year. The financial technology and related services segment contributed ₹1,722.81 lakh to the total revenue, while the paper and paperboard segment generated ₹4,780.24 lakh.

Operational Highlights and Subsidiaries

During the year, the company acquired 100% of the equity share capital of Paynov8 Private Limited, previously known as Auro Fintech Private Limited, for a consideration of ₹60.57 lakh. This acquisition established the financial technology segment. Additionally, SPNP Paper and Pack Private Limited, a wholly-owned subsidiary, divested its entire shareholding in Fine Papyrus Private Limited, which ceased to be a step-down subsidiary effective March 16, 2026.

Board Resolutions and Appointments

Shareholders will vote on the re-appointment of several key personnel. The board has proposed the re-appointment of Darpan Shah as Managing Director for a further term of five years commencing from February 13, 2026. Additionally, the re-appointment of Amit Sinkar and Amit Patankar as Non-Executive Independent Directors for a term of five consecutive years is on the agenda.

The company also seeks shareholder approval to re-appoint M/s. Jogin Raval & Associates as Statutory Auditors for a term of five years. Furthermore, the appointment of M/s. Dholakia & Associates LLP as Secretarial Auditors for a term of five consecutive financial years starting April 1, 2025, will be considered.

Nidhi Granites Limited reported a consolidated net profit of ₹767.77 lakh for the financial year ended March 31, 2026, a significant rise from ₹191.85 lakh in the previous year. The company's revenue from operations grew to ₹6,520.44 lakh from ₹4,527.75 lakh in FY25, driven largely by the inclusion of Paynov8 Private Limited, which became a wholly-owned subsidiary effective April 1, 2025. The standalone financial results, however, showed a net loss of ₹126.56 lakh for the year, compared to a profit of ₹101.32 lakh in the prior year, primarily due to fair value losses on financial investments.

Consolidated Financial Performance

The group's total comprehensive income for the year stood at ₹766.94 lakh. The financial technology segment contributed ₹1,722.81 lakh in revenue, while the paper and paperboard segment reported revenue of ₹4,780.24 lakh. The company's earnings per share (EPS) on a consolidated basis improved to ₹9.60 from ₹2.40 in the previous year. The board of directors has recommended that no dividend be declared for the current financial year.

Operational Highlights and Corporate Actions

During the year, the company acquired 100% of the equity share capital of Paynov8 Private Limited for a consideration of ₹60.57 lakh. Conversely, its subsidiary SPNP Paper and Pack Private Limited divested its entire shareholding in Fine Papyrus Private Limited, which ceased to be a step-down subsidiary effective March 16, 2026. The company also shifted its registered office to Malad West, Mumbai, effective April 1, 2026.

Board Proposals and Appointments

The board has approved the re-appointment of M/s. Jogin Raval & Associates, Chartered Accountants, as statutory auditors for a term of five years. Additionally, the board seeks shareholder approval for the re-appointment of Amit Sinkar and Amit Patankar as Non-Executive Independent Directors for a second term of five years each. Darpan Shah has been re-appointed as Managing Director for a further term of five years commencing February 13, 2026. The company has also fixed July 15, 2026, as the record date to determine shareholder eligibility for voting at the 44th Annual General Meeting scheduled for July 22, 2026.