Nivaka Fashions Limited has released its unaudited financial results for the first quarter of the fiscal year 2026, revealing a substantial decline in revenue and a shift from profit to loss compared to the same period last year.

Financial Performance

The company reported a net loss of Rs 47.65 crore for the quarter ended June 30, 2025, a stark contrast to the profit of Rs 23.53 crore recorded in the corresponding quarter of the previous year. This represents a significant downturn in the company's financial performance.

Revenue from operations saw a dramatic decline, plummeting to Rs 0.04 lakh from Rs 130.25 lakh in the same period last year, marking a decrease of over 99%. The total revenue for the quarter stood at Rs 5.20 lakh, compared to Rs 134.60 lakh in the previous year's corresponding quarter, indicating a 96% reduction.

Expense Management and Profitability

Despite the sharp decline in revenue, Nivaka Fashions' total expenses for the quarter were Rs 53.39 lakh, down from Rs 109.83 lakh in the prior year quarter. However, this reduction in expenses was not sufficient to offset the revenue decline, resulting in a loss before tax of Rs 48.19 lakh, compared to a profit before tax of Rs 24.77 lakh in the same quarter last year.

The company's earnings per share (EPS) turned negative at Rs 0.05 for the quarter, compared to a positive EPS of Rs 0.02 in the corresponding quarter of the previous year.

Balance Sheet Highlights

The paid-up equity share capital remained unchanged at Rs 1,026.90 lakh, with a face value of Re 1 per share.

Management Commentary

The company's board of directors, led by Managing Director Mr. Bhavin Jain, approved these unaudited financial results in a meeting held on August 14, 2025. The meeting, which commenced at 4:40 p.m. and concluded at 4:51 p.m., also included a review by the Audit Committee.

Auditor's Review

ADV & Associates, the company's statutory auditors, conducted a limited review of the financial results. Their report, signed by Partner Prakash Mandhaniya, stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Looking Ahead

The significant decline in revenue and the shift to a loss position present challenges for Nivaka Fashions Limited. Investors and stakeholders will likely be watching closely to see how the company plans to address these issues and return to profitability in the coming quarters.

Note: All figures are in Indian Rupees (INR) unless otherwise stated.

Nivaka Fashions Limited has announced a significant change in its key managerial personnel, marking a transition in its corporate governance structure.

New Appointment

Ms. Sanjana Rajesh Gupta has been appointed as the new Company Secretary and Compliance Officer of Nivaka Fashions Limited, effective July 25, 2025. The appointment was approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee during a board meeting held on the same date.

Ms. Gupta, an Associate Member of the Institute of Company Secretaries of India (ICSI) with membership number A77148, brings valuable experience to her new role. Her expertise includes handling secretarial and compliance matters under the Companies Act, 2013 and SEBI Regulations. She is known for her proficiency in ensuring regulatory compliance and liaising with statutory authorities.

Outgoing Company Secretary

The appointment follows the resignation of Ms. Monika Jain from the position of Company Secretary and Compliance Officer. Ms. Jain, who held the membership number A55705, stepped down from her role citing personal reasons. Her resignation also took effect on July 25, 2025, coinciding with Ms. Gupta's appointment.

Board Meeting Outcome

The changes were formalized during a board meeting of Nivaka Fashions Limited on July 25, 2025. The meeting, which commenced at 18:15 and concluded at 18:40, addressed two key agenda items:

1. Approval of Ms. Sanjana Rajesh Gupta's appointment as Company Secretary and Compliance Officer.
2. Acceptance of Ms. Monika Jain's resignation from the same position.

Company Background

Nivaka Fashions Limited, formerly known as B.T. Syndicate Limited, operates under the brand name 'ninecolours'. The company is headquartered at AA-47, Salt Lake City Sec:1, BL-AA, Kolkata, West Bengal 700064, with its corporate office located in Bhiwandi, Thane.

This leadership change comes as part of Nivaka Fashions' ongoing commitment to maintaining high standards of corporate governance and ensuring compliance with regulatory requirements.

Investors and stakeholders are advised to take note of this change in the company's key managerial personnel.