Nikita Greentech FY26 net profit falls 51.6% to ₹1,113.90 lakh

Nikita Greentech Recycling Limited reported a 51.6% decline in net profit to ₹1,113.90 lakh for the financial year ended March 31, 2026, compared to ₹2,301.88 lakh in the previous year. Revenue from operations fell 3.9% to ₹35,007.17 lakh from ₹36,442.43 lakh in FY25. The Board approved the audited standalone financial results for the half year and full year ended March 31, 2026, along with the re-appointment of key directors and auditors.

Financial Performance

The company's total income for FY26 stood at ₹36,579.93 lakh, a decrease from ₹37,918.62 lakh in the prior year. Profit before tax dropped to ₹1,639.86 lakh from ₹3,264.70 lakh. Basic earnings per share (EPS) decreased to ₹4.52 from ₹12.67 in the previous year. The Statutory Auditors, M/s. Mittal Goel & Associates, issued an audit report with an unmodified opinion on the standalone financial results.

Particulars	FY26 (₹ in Lakhs)	FY25 (₹ in Lakhs)
Revenue from Operations	35,007.17	36,442.43
Total Income	36,579.93	37,918.62
Profit Before Tax	1,639.86	3,264.70
Net Profit	1,113.90	2,301.88
Basic EPS	4.52	12.67

Board Approvals and Appointments

The Board approved the re-appointment of Mrs. Sandhya Bansal as Executive Director liable to retire by rotation and for a further five-year term from November 30, 2026, to November 29, 2031, subject to shareholder approval. Mr. Ayush Bansal was also re-appointed as Whole-Time Director for five years from April 1, 2026, to March 31, 2031, subject to shareholder approval.

Additionally, the Board re-appointed M/s. MMA & Partners as Secretarial Auditor for the financial years 2026-27 to 2028-29 and appointed M/s. VMT & Co. LLP as Internal Auditor for FY27. The resignation of M/s. Arora Vikas & Associates as Internal Auditor effective May 8, 2026, was noted.

Capital Allocation and Compliance

The company confirmed the full utilisation of IPO proceeds amounting to ₹6,754.18 lakh as of March 31, 2026. The funds were utilized for capital expenditure towards a power plant (₹5,000 lakh), working capital (₹500 lakh), general corporate purposes (₹815.23 lakh), and issue expenses (₹438.95 lakh). M/s. Mittal Goel & Associates certified the utilisation of proceeds in accordance with NSE Circular No. NSE/CML/2024/23.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+9.94%	+3.66%	-36.17%	-36.91%	-10.72%	-10.72%

Nikita Greentech Recycling Limited (formerly known as Nikita Papers Limited) has informed the stock exchanges of a change in its Internal Auditor, pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). The intimation was filed on May 09, 2026, and signed by Divam Mittal, Company Secretary & Compliance Officer.

Resignation of Internal Auditor

M/s. Arora Vikas And Associates, Chartered Accountants, holding ICAI Membership No. 413859 and Firm Registration Number (FRN) 017300C, has tendered its resignation from the position of Internal Auditor of the company. The resignation is effective from the close of business hours on Friday, May 08, 2026. The firm cited pre-occupation and engagement in other professional assignments as the reason for its inability to continue conducting the internal audit effectively.

The key details of the resignation, as disclosed pursuant to SEBI regulations, are summarised below:

Parameter:	Details
Firm Name:	M/s. Arora Vikas And Associates, Chartered Accountants
FRN:	017300C
ICAI Membership No.:	413859
Reason for Change:	Resignation — pre-occupation and engagement in other professional assignments
Effective Date of Cessation:	May 08, 2026 (close of business hours)
Shares Held in Company:	NIL

Disclosure Under SEBI Regulations

The disclosure has been made in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, issued on July 11, 2023 and last updated on January 30, 2026. As this is a resignation and not an appointment, disclosures pertaining to brief profile, directorship in other listed entities, and relationship between directors have been marked as Not Applicable.

In its resignation letter dated May 08, 2026, M/s. Arora Vikas And Associates formally requested the Board of Directors of Nikita Greentech Recycling to accept the resignation and relieve the firm from the position. The letter was signed by CA Vikas Arora, Partner, from Muzaffarnagar, Uttar Pradesh.

Replacement Process Underway

Nikita Greentech Recycling has stated that it has initiated the process of identifying a suitable replacement for the Internal Auditor position. The company has committed to informing the stock exchanges upon the appointment of a new Internal Auditor. The above information has also been made available on the company's website at www.nikitagreentechrecycling.com .