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:

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:

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:

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.

Nidhi Granites Limited has officially notified BSE Limited regarding its exemption from corporate governance provisions under SEBI regulations for the third quarter of FY26. The company falls below the prescribed thresholds that would otherwise mandate compliance with extensive corporate governance requirements.

Regulatory Exemption Details

Under Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Nidhi Granites Limited qualifies for exemption from corporate governance provisions due to its financial parameters as of March 31, 2025:

This exemption specifically covers compliance requirements under Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46, along with para-C, D and E of Schedule V of LODR.

Financial Performance Trajectory

The company's financial growth over the past three years demonstrates significant expansion in both paid-up capital and net worth:

The data reveals substantial capital expansion, with paid-up equity capital doubling from FY24 to FY25, while net worth increased by ₹1.01 crores during the same period.

Compliance Impact

As a result of this exemption, Nidhi Granites Limited is not required to submit corporate governance reports for the quarter ended December 31, 2025. The company has formally communicated this status to BSE Limited through its Company Secretary, Krinisha Sanghvi, ensuring transparency in regulatory compliance matters.

The exemption has been certified by Jogin Raval & Associates, Chartered Accountants, who verified the company's financial parameters based on audited financial statements. This professional validation supports the company's claim for regulatory relief under SEBI guidelines.