Nitco Limited has recovered the full balance of a long-outstanding capital advance from Saumya Buildcon Private Limited. The company received ₹995.98 lakhs on August 24, 2026, settling a debt that had remained unpaid for more than a decade.

The advance was originally extended by Nitco in connection with the procurement of land. However, the proposed transaction with Saumya Buildcon did not materialise, leaving the amount outstanding for years. This recovery forms part of Nitco’s ongoing efforts to regularise and recover long-pending advances.

Recovery Details

Vivek Talwar, Chairman & Managing Director of Nitco, confirmed that no amount remains outstanding from Saumya Buildcon in respect of this specific capital advance. The company notified both the BSE and NSE of the settlement via regulatory filing NITCO/SE/2026-27/34.

What the Numbers Show

The recovery of nearly ₹10 crore represents a clean-up of legacy balance sheet items. Since the original land transaction failed over ten years ago, this cash inflow reverses a long-standing non-operational receivable, improving working capital efficiency without impacting current operational revenue streams.

Nitco Limited received a dismissal of its writ petition by the Delhi High Court regarding a customs duty interest demand of ₹15.17 crore. The company plans to file a Special Leave Petition (SLP) in the Supreme Court.

The Delhi High Court, in an order dated August 21, 2026, dismissed the petition challenging a final Settlement Order from November 14, 2019. The court observed that the challenge to the Show Cause Notice dated June 18, 2018, on limitation grounds could not be reopened.

Legal Proceedings and Financial Impact

The dispute centers on alleged customs duty liability under the EPCG scheme. The court found no infirmity in the direction for quantifying interest under Clause (e) of Para 51(ii) of the Final Settlement Order. Nitco received the order on August 24, 2026.

The company stated there is no material impact on its operations or other activities. Vivek Talwar, Chairman and Managing Director, signed the disclosure under Regulation 30 of the SEBI Listing Regulations.