Nitco Limited has responded to stock exchange inquiries regarding unusual trading activity in its shares, clarifying that recent volume increases are purely market-driven phenomena. The company issued its response on March 24, 2026, addressing queries from both BSE and NSE about significant trading volume surges.

Stock Exchange Query Response

The clarification came in response to letters dated March 23, 2026, from both BSE and NSE seeking explanations for the notable increase in share trading volumes. Stock exchanges routinely monitor unusual price and volume movements to ensure market transparency and investor protection.

Company's Official Position

Nitco emphasized that all company information remains in the public domain with no pending price-sensitive disclosures. The management confirmed compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, stating no undisclosed events could impact company operations or performance.

The company specifically clarified that the volume increase in its shares is purely market-driven, with no internal factors contributing to the unusual trading activity. This statement aims to address any speculation about undisclosed corporate developments or material information.

Regulatory Compliance Commitment

Nitco reaffirmed its commitment to maintaining transparency and regulatory compliance. The company assured stakeholders of continued adherence to disclosure obligations under SEBI Listing Regulations, emphasizing timely communication of any material developments.

The clarification was signed by Vivek Prannath Talwar, Chairman and Managing Director, reinforcing the company's official stance on the matter. Such clarifications are standard practice when exchanges seek explanations for unusual market movements, ensuring investor confidence and market integrity.

Nitco tiles has issued a comprehensive postal ballot notice to shareholders, seeking approval for key corporate governance matters through remote electronic voting. The notice, dated February 12, 2026, outlines two special resolutions requiring shareholder consent.

Key Resolutions for Shareholder Approval

The postal ballot encompasses two critical special resolutions that will shape the company's leadership and financial flexibility:

Remote E-Voting Schedule and Process

The company has established a comprehensive timeline for the voting process, utilizing National Securities Depository Limited (NSDL) for remote e-voting facilities:

Managing Director Re-appointment Details

Mr. Vivek Prannath Talwar's current tenure as Managing Director expires on March 31, 2026. The proposed re-appointment extends his leadership for another three years through March 31, 2029. Notably, Mr. Talwar will attain 70 years of age in October 2026, requiring special shareholder approval for continuation beyond the statutory age limit under Section 196(3)(a) of the Companies Act, 2013.

Remuneration and Benefits Structure

The re-appointment terms reflect a unique compensation approach:

• Remuneration: Mr. Talwar has voluntarily waived monetary remuneration
• Benefits: Medical reimbursement, leave travel concession, and personal accident cover
• Business Expenses: Reimbursement for travel, boarding, and lodging expenses at actuals
• Transportation: Chauffeur-driven car for official purposes
• Communication: Telephone and communication expenses reimbursement

Financial Performance Context

The explanatory statement provides insight into the company's recent financial performance, showing the challenges faced across three financial years:

Strategic Restructuring and Future Outlook

The company has undertaken significant restructuring efforts, including entering into a restructuring agreement with Authum Investment & Infrastructure Limited on October 22, 2024. Management expects sales revenue to surpass INR 450 crores by the end of the current financial year, with first nine months already exceeding previous year's performance.

Loan and Guarantee Authorization

The second resolution seeks approval for the Board to grant loans, guarantees, or securities up to INR 100,00,00,000 (Rupees Hundred Crores Only) to subsidiaries, associates, joint ventures, or entities where directors have interests, as specified under Section 185 of the Companies Act, 2013.

Shareholder Participation Guidelines

Eligible shareholders whose names appear in the Register of Members as of the cut-off date February 13, 2026, can participate in the remote e-voting process. The company will send the postal ballot notice electronically to registered email addresses, with detailed voting instructions provided through the NSDL platform.