Nutricircle Limited announced that its statutory auditor, M/s. NSVR & Associates LLP, has resigned effective September 1, 2026.

The Hyderabad-based company disclosed the resignation to the Bombay Stock Exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

NSVR & Associates LLP cited pre-occupation with other assignments as the reason for stepping down. The firm stated it was unable to devote sufficient time to the company’s affairs.

The resignation letter, dated September 1, 2026, was signed by partner R. Srinivasu. The firm confirmed there were no concerns or material reasons other than workload constraints prior to the resignation.

Timeline and Next Steps

NSVR & Associates LLP was appointed as statutory auditor at the 30th Annual General Meeting held on September 29, 2023. Their term was scheduled to expire at the conclusion of the 35th AGM in 2028.

The audit committee and board of directors will address the casual vacancy in their upcoming meetings. They will take necessary steps to appoint a new statutory auditor.

Key Facts

The company has enclosed the resignation letter and required disclosures with the exchange filing.

Nutricircle Limited (formerly Shreyash Industries Limited) reported a sharp acceleration in top-line growth for the first quarter of FY27, with revenue from operations more than doubling compared to the same period last year.

The company’s standalone results for the quarter ended June 30, 2026, show income from operations reaching ₹550.06 lakh, a substantial increase from ₹219.17 lakh in the corresponding quarter of FY26. This represents a year-on-year growth of approximately 151%. Sequentially, revenue also expanded by 12.7% from ₹488.26 lakh in the preceding quarter ended March 31, 2026.

Financial Performance

Profitability metrics improved alongside the revenue surge. Net profit before tax and exceptional items stood at ₹3.77 lakh, up from ₹3.14 lakh in the prior year period. After-tax net profit remained consistent with the pre-tax figure at ₹3.77 lakh, indicating no significant tax adjustments or exceptional items impacted the bottom line for the quarter.

Earnings per share (basic) for the quarter were ₹0.03, compared to ₹0.02 in the previous quarter and ₹0.03 in the corresponding quarter of the previous year.

What the Numbers Show

The divergence between revenue growth and profit expansion highlights the current operating leverage dynamics. While revenue scaled by over 150% year-on-year, net profit grew by a more modest 20%. This suggests that costs scaled disproportionately with the initial volume spike, or that margin compression occurred as the company ramped up operations. The year-to-date revenue for FY26 stood at ₹1,776.61 lakh, providing context that the Q1 FY27 figure represents a significant quarterly contribution relative to the prior full year's run rate.

Corporate Actions

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on August 14, 2026. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.

The company’s Chief Operating Decision Maker reviews operations as a single reportable segment; therefore, segmental reporting as per IND-AS-108 has not been made. Paid-up equity share capital remains at ₹1,110 lakh, unchanged from the previous quarter.