Nitin Castings Limited has appointed Ms. Meghna Vihang Makda as an Additional Director (Non-Executive - Independent), effective July 25, 2026. The Board of Directors approved the appointment during a meeting held on July 25, 2026, following a recommendation from the Nomination and Remuneration Committee. This addition to the Board strengthens the company’s governance structure with a director possessing significant expertise in financial advisory and regulatory compliance.

The appointment is subject to shareholder approval. Ms. Makda’s term is fixed for five years, commencing from July 25, 2026. The Board confirmed that she meets the independence criteria prescribed under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. She is not debarred from holding office by any order from SEBI or other authorities.

Ms. Makda is a Fellow Chartered Accountant with over 10 years of experience in corporate and financial advisory, audit, taxation, compliance, fundraising, valuation, and due diligence. She has extensive experience advising large and mid-sized organizations on financial and regulatory matters. Currently, she serves as an Independent Director on the Board of another listed company. The disclosure states that she has no associations with any existing directors of Nitin Castings Limited.

Appointment Details

Regulatory Compliance

The company made this disclosure pursuant to Regulation 30 read with Schedule III of the SEBI LODR Regulations. The filing also references SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The Board meeting commenced at 05:30 PM and concluded at 06:00 PM on July 25, 2026.

Nitin Castings Limited reported a net profit of ₹106.29 crore for the financial year ended March 31, 2026, a decline of 14.4% from ₹124.12 crore in the previous year. Revenue from operations for FY26 stood at ₹1,470.87 crore, compared to ₹1,505.74 crore in FY25. The board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026.

For the fourth quarter ended March 31, 2026, the company recorded a net profit of ₹17.52 crore, while revenue from operations was ₹346.30 crore. The statutory auditors, M/s. Jhunjhunwala Jain & Associates LLP, issued an unmodified opinion on the standalone financial results. The company noted a statutory impact of ₹59.32 lakh due to new Labour Codes, classified as an exceptional item.

Financial Performance

The company's total expenditure for FY26 increased to ₹1,368.27 crore from ₹1,377.13 crore in the previous year. Finance costs rose to ₹78.95 lakh from ₹43.09 lakh. Earnings per share (EPS) for the year stood at ₹20.67, down from ₹24.14 in FY25.

Segment and Disclosures

Nitin Castings is engaged in the manufacture of Alloy Steel Castings and has no separate reportable segment as per Ind AS 108. The board also approved the voluntary delisting proposal initiated by the promoter group, with applications pending before the stock exchanges. The company continues to comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pending completion of the delisting process.