NIS Management Limited has announced the appointment of M/s KGRS & Co., Chartered Accountants as the statutory auditor for five subsidiary companies, effective March 14, 2026. This appointment follows the recent resignation of the previous auditor M/s Datta Roy & Associates from the same subsidiaries.

New Auditor Appointment Details

The appointment was approved at Extra-Ordinary General Meetings held on March 14, 2026, for four subsidiary companies, while Keertika Education & Associates LLP approved the appointment at its meeting on the same date. M/s KGRS & Co. will serve from the conclusion of these meetings until the conclusion of the ensuing Annual General Meeting.

Affected Subsidiary Companies

The new auditor appointment covers the same five subsidiary companies that were previously served by the resigned auditor:

• NIS Facility Management Services Private Limited
• Keertika Academy Private Limited
• NIS Ace Management Private Limited
• Achilles Resolute Private Limited
• Keertika Education & Associates LLP

About the New Auditor

KGRS & Co is described as a peer-reviewed firm with a comprehensive team of professionals including FCAs, CPA(USA), CISA(USA), CS, DISA, LLB, Registered Valuers, Insolvency Professionals, and Procurement Experts. The firm provides integrated advisory, assurance, tax, and auditing services to businesses, corporates, and private clients globally.

Background and Previous Developments

The appointment addresses the casual vacancy created when M/s Datta Roy & Associates resigned from their positions on March 13, 2026, citing preoccupation and other professional commitments. The previous auditor had confirmed no pending audit issues or disagreements with management at the time of resignation.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Managing Director Debajit Choudhury signed the regulatory filings on March 14, 2026, ensuring compliance with all necessary requirements under the Companies Act, 2013 and Limited Liability Partnership Act.

NIS Management Limited submitted its investor presentation on unaudited financial results for Q3FY26 and nine months ended December 31, 2025, to BSE Limited under Regulation 30 on February 14, 2026. The presentation provides comprehensive insights into the company's performance and strategic outlook following the board-approved results announced on February 12, 2026.

Regulatory Submission and Compliance

The investor presentation was formally submitted to the Listing and Compliance Department of Bombay Stock Exchange Limited, with the company's Managing Director Debajit Choudhury (DIN: 00932489) signing the submission letter. The presentation has been uploaded on the company's investor website at https://nis.co.in/Investors for stakeholder access.

Financial Performance Highlights

The presentation revealed that NIS Management achieved consolidated revenue of ₹102.80 crores in Q3FY26, with EBITDA of ₹5.69 crores representing a margin of 5.48%. For the nine-month period, consolidated revenue reached ₹316.81 crores with EBITDA of ₹22.42 crores, reflecting an improved margin of 7.04%.

Business Model and Market Position

The presentation highlighted NIS Management's scalable, annuity-based business model serving over 1,500 sites across multiple sectors. The company operates in the Indian security services market estimated at ₹1,574 billion in 2024, positioning itself among the fastest-growing segments driven by urbanization and infrastructure expansion.

Strategic Growth Initiatives

The company outlined future expansion plans focusing on deepening presence in Maharashtra, Gujarat, NCR, and Tier-2 cities while scaling integrated facility management across government and corporate sectors. NIS Management targets gradual EBITDA margin improvement over the medium term through operational efficiency and service diversification.

IPO Proceeds and Capital Allocation

Following its BSE SME listing in September 2025, the company raised ₹51.75 crores through the IPO. The presentation confirmed strategic utilization of proceeds for working capital requirements and general corporate purposes, supporting the company's expansion objectives across its diversified service portfolio including security, housekeeping, and facility management services.