Nicco Engineering Services Limited has filed a substantial acquisition disclosure with BSE Limited, revealing its increased shareholding in Nicco Parks & Resorts Limited. The disclosure, made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details the acquisition of additional shares in the target company.

Acquisition Details

The acquisition involved the purchase of 11,27,117 equity shares of Nicco Parks & Resorts Limited through open market transactions. These shares represent 2.41% of the target company's total share capital and voting rights.

Shareholding Pattern Changes

The acquisition has resulted in a significant change in Nicco Engineering Services Limited's shareholding pattern in the target company.

Promoter Group Holdings

The disclosure identifies Nicco Engineering Services Limited as part of the promoter group of Nicco Parks & Resorts Limited. The promoter group includes several persons acting in concert (PAC), with their combined holdings detailed in the regulatory filing.

Key persons acting in concert include:

• Mr. Rajive Kaul jointly with Ms. Manjari Mrinalini Kaul holding 21,55,000 shares (4.60%)
• Sunflag Commercial Pvt. Ltd. with 26,70,000 shares (5.71%)
• Hindustan Wire Metal Products Private Ltd. holding 4,49,760 shares (0.96%)
• Various other individual and corporate entities with smaller holdings

Total Promoter Group Position

Following the acquisition, the total promoter group holding stands at 91,52,681 shares, representing 19.56% of Nicco Parks & Resorts Limited's total share capital. This consolidated position reflects the combined holdings of Nicco Engineering Services Limited and all persons acting in concert.

Company Structure

Nicco Parks & Resorts Limited has a total equity share capital of 4,68,00,000 shares with a face value of Re. 1/- each. The company's shares are listed on BSE Limited, where this substantial acquisition disclosure has been filed for compliance with regulatory requirements.

The disclosure was signed by Aanchal Kothari, Company Secretary of Nicco Engineering Services Limited, and filed on December 11, 2025, ensuring compliance with SEBI's substantial acquisition regulations.

Nicco Parks & Resorts Limited , a joint sector company with the Government of West Bengal, has announced robust financial results for the second quarter and half-year ended September 30, 2023. The company's performance showcases significant growth in revenue and a remarkable turnaround in profitability.

Key Financial Highlights

Revenue Growth

Nicco Parks' revenue from operations witnessed a substantial increase, reaching Rs. 4,150.15 lakhs in Q2 2023, compared to Rs. 1,377.37 lakhs in the same quarter last year (Q2 2022). This represents an impressive year-on-year growth of 201.31%.

For the half-year period, the company recorded revenue of Rs. 7,501.67 lakhs, a significant improvement from Rs. 3,851.71 lakhs in the corresponding period of the previous year, marking a 94.76% increase.

Profitability Surge

The company's bottom line showed a remarkable improvement. Nicco Parks reported a profit after tax of Rs. 2,349.00 lakhs for Q2 2023, a substantial turnaround from a loss of Rs. 270.60 lakhs in the corresponding quarter of the previous year. This represents a positive swing of Rs. 2,619.60 lakhs in net profit.

For the half-year ended September 30, 2023, the company's profit after tax stood at Rs. 1,957.34 lakhs, compared to Rs. 1,049.35 lakhs in the same period last year, indicating an 86.53% year-on-year increase.

Segment Performance

The company's financial results include contributions from its joint venture, Nicco Jubilee Park Limited, and associate company, Nicco Engineering Services Limited. The park operations segment, which is the primary revenue driver, showed strong performance, contributing significantly to the overall growth.

Board Approval and Dividend

The Board of Directors approved the unaudited standalone and consolidated financial results at a meeting held on November 12, 2023. Additionally, an interim dividend of 100% (Re. 1 on the par value of Re. 1) was declared by the Board in their meeting held on August 12, 2023, for the financial year 2023-2024.

Auditor's Note

It's important to note that the auditors have highlighted a material uncertainty regarding the company's ability to continue as a going concern, pending the formalization of certain agreements. This relates to the renewal of the lease agreement for the land on which the company operates its amusement park and other recreational facilities.

Conclusion

Despite the auditor's note on material uncertainty, Nicco Parks & Resorts Limited has demonstrated strong financial performance in Q2 and H1 of 2023. The significant increase in revenue and the turnaround in profitability indicate positive momentum for the company. However, investors and stakeholders should keep a close eye on the resolution of the lease agreement issue, as it may have implications for the company's long-term operations.