Nidhi Granites Limited , a diversified company with interests in construction materials, paper and paperboard, garments, and financial technology services, has reported a mixed financial performance for the second quarter of fiscal year 2026. The company also announced plans to change its name to NGL Limited, subject to necessary approvals.

Financial Performance

For the quarter ended September 30, 2025, Nidhi Granites reported:

All figures in crore rupees

The standalone results show a net loss of ₹32.89 crore for the quarter, while the consolidated results present a more positive picture with a net profit of ₹129.18 crore. This significant difference highlights the performance of the company's subsidiaries, particularly in the financial technology sector.

Segment-wise Performance

The company's consolidated results reveal varying performances across its business segments:

1. Construction Material: No revenue reported for this quarter.
2. Paper and Paperboard: Generated revenue of ₹944.94 crore.
3. Garments: No revenue reported for this quarter.
4. Financial Technology and Related Services: Reported revenue of ₹373.16 crore.

Acquisition Impact

The company's acquisition of Auro Fintech Pvt Ltd (now renamed Paynov8 Pvt Ltd) on April 1, 2025, has impacted the consolidated results. The financial technology segment, which includes Paynov8, contributed ₹373.16 crore to the revenue and showed a segment result before tax and interest of ₹161.98 crore.

Proposed Name Change

The Board of Directors has approved a proposal to change the company name from Nidhi Granites Limited to NGL Limited. This change is subject to shareholder approval and necessary regulatory clearances.

Future Outlook

While the standalone entity faces challenges, as evidenced by the quarterly loss, the consolidated results show a different picture. The performance of subsidiaries, particularly in the financial technology sector, suggests a strategic shift that may influence future performance.

The proposed name change to NGL Limited may reflect the company's evolving business focus beyond its original granite business. Investors and stakeholders will be watching closely to see how this diversification strategy unfolds in the coming quarters.

Investors are advised to consider both standalone and consolidated results, along with segment-wise performance, when evaluating the company's overall financial position.

Nidhi Granites Limited has announced a significant change in its corporate structure, with its wholly owned subsidiary undergoing a name change. The company, previously known as Auro Fintech Private Limited, has been rebranded as Paynov8 Private Limited, effective October 15, 2025.

Corporate Action Details

The name change has been officially approved and registered by the Registrar of Companies, as confirmed in a regulatory filing by Nidhi Granites Limited. The Certificate of Incorporation reflecting this change has been duly issued, marking the formal transition to the new identity.

Timeline and Background

Regulatory Compliance

The company has adhered to the regulatory requirements by intimating the BSE Limited about this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ensures transparency and keeps stakeholders informed about significant changes within the organization.

Legal Considerations

As per Section 12 of the Companies Act, Paynov8 Private Limited is required to display its old name alongside the new one for a period of two years at all places where the company name is required to be displayed. This ensures continuity and clarity for all stakeholders during the transition period.

Investors and stakeholders are advised to take note of this change and update their records accordingly. For the latest information on the company and its directors, interested parties can refer to the Ministry of Corporate Affairs website at www.mca.gov.in/MCA21 .