Nidhi Granites Reports Q3FY26 Results, Announces MD Re-appointment and Office Relocation
Nidhi Granites Limited reported mixed Q3FY26 results with strong consolidated performance driven by its Financial Technology segment. The company achieved consolidated revenue of ₹1,555.07 lakhs and net profit of ₹220.61 lakhs, marking significant growth from the previous year. The Board approved Mr. Darpan Shah's re-appointment as Managing Director for five years and decided to relocate the registered office to Malad West, Mumbai.
*this image is generated using AI for illustrative purposes only.
Nidhi Granites Limited announced its unaudited financial results for the quarter ended December 31, 2025, along with significant corporate developments during its Board meeting held on February 13, 2026.
Financial Performance Overview
The company's financial performance showed contrasting results between its standalone and consolidated operations for Q3FY26:
| Performance Metric: | Standalone Q3FY26 | Consolidated Q3FY26 | Consolidated Q3FY25 |
|---|---|---|---|
| Revenue from Operations: | Nil | ₹1,555.07 lakhs | ₹1,341.49 lakhs |
| Total Income: | ₹0.13 lakhs | ₹1,562.33 lakhs | ₹1,392.87 lakhs |
| Net Profit/(Loss): | (₹32.30 lakhs) | ₹220.61 lakhs | ₹94.22 lakhs |
| Earnings Per Share: | (₹0.40) | ₹2.75 | ₹1.17 |
On a consolidated basis, the company demonstrated strong growth with revenue from operations increasing to ₹1,555.07 lakhs in Q3FY26 compared to ₹1,341.49 lakhs in Q3FY25. The consolidated net profit surged to ₹220.61 lakhs from ₹94.22 lakhs in the corresponding quarter of the previous year.
Nine-Month Performance Analysis
For the nine months ended December 31, 2025, the consolidated performance showed robust growth:
| Nine-Month Metrics: | FY26 (Apr-Dec) | FY25 (Apr-Dec) | Growth |
|---|---|---|---|
| Revenue from Operations: | ₹4,854.22 lakhs | ₹3,479.47 lakhs | +39.5% |
| Net Profit: | ₹573.81 lakhs | ₹279.51 lakhs | +105.3% |
| Basic EPS: | ₹7.16 | ₹3.48 | +105.7% |
Segment-wise Business Performance
The company operates across four distinct business segments with varying contributions:
Q3FY26 Segment Revenue:
- Financial Technology Services: ₹416.29 lakhs (new segment)
- Paper and Paperboard: ₹1,138.71 lakhs
- Garments: ₹0.07 lakhs
- Construction Materials: Nil
The Financial Technology and related services segment, introduced following the acquisition of Auro Fintech Private Limited (now renamed Paynov8 Private Limited), contributed significantly with ₹416.29 lakhs in revenue and ₹239.77 lakhs in segment profit before tax for Q3FY26.
Key Corporate Developments
The Board approved several important corporate decisions during the meeting:
| Development: | Details |
|---|---|
| MD Re-appointment: | Mr. Darpan Shah re-appointed for 5 years from February 13, 2026 |
| Office Relocation: | Registered office shifting to Malad West, Mumbai from April 1, 2026 |
| Previous Location: | Madhu Industrial Park, Andheri East, Mumbai |
| New Address: | 2010, 20th Floor, 9 Business Bay, Malad West, Mumbai 400064 |
Leadership Profile
Mr. Darpan Shah brings over 25 years of experience in payment solutions, cross-border remittances, and e-commerce business. His professional background includes tenures with JP Morgan Chase (NY, USA), Times of Money Ltd, Yes Bank Ltd, and IndusInd Bank Ltd as Vice President & Head – Global Remittances & E-commerce Business. He is actively engaged in business expansion and M&A activities in the payment space for the company.
Subsidiary Operations
The company's subsidiary structure includes SPNP Paper and Pack Private Limited, Yug Fashion Garments Private Limited, Paynov8 Private Limited (formerly Auro Fintech Private Limited), and step-down subsidiary Fine Papyrus Private Limited. The acquisition of Auro Fintech Private Limited for ₹60.57 lakhs on April 1, 2025, has significantly contributed to the company's financial technology segment performance.
The paid-up equity share capital remains stable at ₹800.00 lakhs with a face value of ₹10 per share across all reporting periods.
Historical Stock Returns for Nidhi Granites
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -8.48% | -7.76% | -11.78% | -8.98% | -42.56% | +188.59% |
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