Nitco tiles has submitted its quarterly monitoring agency report for the quarter ended December 31, 2025, detailing the utilization of proceeds from its preferential issue worth Rs. 625.21 crore. The report, prepared by Infomerics Valuation and Rating Limited and reviewed by the company's Audit Committee, shows continued progress in deploying the raised funds across various business objectives.

Quarterly Fund Utilization

During the quarter ended December 31, 2025, the company utilized Rs. 16.77 crore specifically for working capital requirements in its tiles and marble business. The funds were primarily deployed for purchasing rough marble blocks, supporting the company's core manufacturing operations.

Object-wise Fund Deployment Status

The monitoring report reveals the current status of fund utilization across the five stated objectives of the preferential issue:

Completed Objectives

• Debt Repayment: Rs. 200.00 crore allocated for repayment of existing debt and redemption of non-convertible debentures has been fully utilized
• Operational Creditors: Rs. 50.00 crore earmarked for payment of outstanding dues to operational creditors has been completely deployed

Ongoing Objectives

Fund Reallocation Strategy

The Board of Directors approved a strategic reallocation of funds on June 30, 2025, based on current business priorities and Audit Committee recommendations. Rs. 48.06 crore was reallocated from the real estate acquisition objective to working capital requirements, adjusting the original allocation from Rs. 50.00 crore to Rs. 98.06 crore for working capital needs.

Preferential Issue Structure

The preferential issue comprised equity shares and convertible warrants with specific terms:

Unutilized Funds Management

The company has deployed unutilized proceeds of Rs. 23.88 crore in fixed deposits with HDFC Bank, earning returns at 7.25% per annum. The deposits have varying maturity dates ranging from January 2026 to July 2026, ensuring liquidity while generating returns on idle funds.

Implementation Timeline

While the company had disclosed a tentative timeline of six months for complete utilization of preferential proceeds, approximately 5% of the funds remain unutilized as of the reporting date. The management has confirmed that proceeds remain in designated bank accounts in accordance with applicable regulations and the company is taking steps to utilize the remaining funds expeditiously for stated objectives.

Regulatory Compliance

The monitoring report confirms no deviations from the objects disclosed in the offer document and no material changes in the means of finance for disclosed objectives. The report was prepared in compliance with Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Nitco Limited has announced that its Board of Directors will convene on February 12, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026. The meeting has been scheduled in accordance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Board Meeting Details

The board meeting will focus on considering and approving the unaudited financial results for both standalone and consolidated operations. The financial results will cover the quarter and nine months ended December 31, 2025, representing the company's Q3FY26 performance.

Trading Window Restrictions

In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, Nitco Limited has implemented a trading window closure for its securities. The restriction period began on January 1, 2026, and aligns with the company's internal code of conduct designed to regulate, monitor, and report trading by insiders.

The trading window will remain closed until 48 hours after the official announcement and declaration of the unaudited financial results. This measure ensures compliance with insider trading regulations and maintains market integrity during the financial disclosure period.

Regulatory Compliance

The board meeting announcement was communicated to both major stock exchanges where Nitco Limited shares are listed. The company has informed BSE Limited and the National Stock Exchange of India Limited about the scheduled meeting, fulfilling its disclosure obligations under the listing regulations.

Company Secretary and Compliance Officer Rupali Kambli signed the official communication on January 22, 2026, ensuring proper documentation and regulatory compliance for the board meeting announcement.