N.K. Industries Ltd. has announced its financial results for the third quarter and nine months ended December 31, 2025, revealing continued losses across both standalone and consolidated operations. The company's performance reflects ongoing operational challenges amid various legal proceedings.

Standalone Financial Performance

The company's standalone operations showed deteriorating performance in Q3 FY26. Total income remained flat at ₹73.38 lakhs compared to ₹71.17 lakhs in Q3 FY25, with net sales maintaining ₹60.00 lakhs across all reported quarters.

For the nine-month period ended December 31, 2025, the company reported a net loss of ₹238.73 lakhs compared to ₹54.10 lakhs in the corresponding period of FY25, representing a significant deterioration of 341.2%.

Consolidated Results Show Deeper Losses

The consolidated financial results, which include three wholly-owned subsidiaries, presented an even more challenging picture. The consolidated net loss for Q3 FY26 reached ₹80.85 lakhs, substantially higher than the ₹42.61 lakhs loss recorded in Q3 FY25.

Consolidated total income declined to ₹271.27 lakhs in Q3 FY26 from ₹385.38 lakhs in Q3 FY25, reflecting reduced operational activity across the group.

Expense Structure and Operational Metrics

On a standalone basis, the company's expense structure showed significant variations. Other expenses increased substantially to ₹65.00 lakhs in Q3 FY26 from ₹10.47 lakhs in Q3 FY25. Employee benefits expenses rose to ₹11.28 lakhs from ₹9.36 lakhs, while depreciation remained relatively stable at ₹59.46 lakhs compared to ₹64.49 lakhs in the previous year.

The company maintained a paid-up equity share capital of ₹600.99 lakhs throughout all reported periods, with shares having a face value of ₹10 each.

Legal and Regulatory Challenges

The auditor's report contains qualifications related to ongoing legal proceedings involving National Spot Exchange Limited (NSEL) transactions from financial year 2012-13. The company faces multiple enforcement actions:

• NSEL has filed recovery proceedings for approximately ₹937 crores plus interest
• Maharashtra government has attached company assets under the MPID Act, 1999
• Directorate of Enforcement proceedings under the Prevention of Money Laundering Act, 2002
• Criminal proceedings under various sections of IPC and MPID Act

The auditors noted that due to these pending matters being sub-judice, they were unable to quantify the final liability and its potential impact on the company's financial position.

Going Concern Considerations

Despite accumulated losses of ₹35,485.95 lakhs as of December 31, 2025, and negative net worth, the financial statements have been prepared on a going concern basis. Management has submitted business plans and cash flow projections indicating confidence in business revival and recovery through improved profitability in the foreseeable future.

NK Industries Ltd has announced the resignation of its Company Secretary and Compliance Officer, Jelin Ashishbhai Dodiya, effective January 2, 2026. The resignation was submitted due to personal reasons, marking a key managerial personnel change for the company.

Resignation Details

The company disclosed the resignation in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table summarizes the key details of the resignation:

Board Response and Next Steps

Hasmukh K Patel, Whole Time Director (DIN: 06587284) of the company, accepted Dodiya's resignation on behalf of the board. Patel has committed to ensuring that all necessary formalities regarding the resignation are completed within the due course of time. The company confirmed that there are no other material reasons for the resignation beyond those stated in Dodiya's resignation letter.

Regulatory Compliance

NK Industries Ltd has fulfilled its disclosure obligations under SEBI regulations by providing the required intimation to both BSE Limited and National Stock Exchange of India Limited. The company's disclosure includes:

• Formal resignation letter from Jelin Dodiya
• Confirmation of cessation date as January 2, 2026
• Statement that no material reasons exist beyond personal circumstances
• Acceptance of resignation by the board through the Whole Time Director

The resignation represents a change in key managerial personnel for NK Industries Ltd, which operates in the edible oil sector. The company will need to identify and appoint a new Company Secretary and Compliance Officer to fulfill these critical corporate governance roles.