Nirav commercial has executed a Business Transfer Agreement (BTA) with Hind Aluminium Industries Limited for the proposed sale of its aluminium grills, doors and windows manufacturing business for ₹1.25 crores. The company informed BSE on February 17, 2026, that the agreement has been signed following the Board of Directors' approval on February 4, 2026.

Agreement Execution and Timeline

The Business Transfer Agreement becomes effective subject to shareholder approval. The transaction involves selling the business of manufacturing and selling aluminium grills, doors and windows under the brand name 'Elesar Focchi' as a going concern on a slump sale basis.

Financial Impact of Divestment

The divested business represents a significant portion of Nirav Commercials' operations. Based on audited financial statements as on March 31, 2025, the undertaking's financial contribution includes:

Related Party Transaction Details

The transaction qualifies as a Material Related Party Transaction as both companies share common promoters. The same set of promoter shareholders hold 51.95% of share capital in Nirav Commercials Limited and 66.47% of share capital in Hind Aluminium Industries Limited.

Hind Aluminium Industries Limited, listed on BSE Limited, operates from the same registered office at B-1, Tulsi Vihar, Dr. A. B. Road, Worli Naka, Mumbai. The buyer is engaged in manufacturing wire rods and conductors, mining, and power generation through windmills and solar power plants across Maharashtra, Karnataka and Rajasthan.

Regulatory Compliance and Next Steps

The company will obtain necessary approvals under Section 180 of the Companies Act, 2013 and Regulation 37A of the LODR Regulations before completing the transaction. Shareholders will receive detailed disclosures in the Notice of Postal Ballot or General Meeting for approval of the sale. The transaction will be conducted at arm's length basis and will not result in any change to the shareholding pattern of Nirav Commercials Limited.

Nirav Commercials Limited has fulfilled its regulatory obligations by publishing its unaudited financial results for the quarter and nine months ended December 31, 2025, in newspapers on February 11, 2026. The company published the results in English daily "The Free Press Journal" and Marathi daily "Navshakti" as required under Regulation 47 read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Publication

Company Secretary & Compliance Officer Amey Ashok Borkar submitted the newspaper publication copies to BSE Limited on February 11, 2026, confirming compliance with listing requirements. The company operates under scrip code 512425 on BSE and maintains its registered office at B-1, Tulsi Vihar, Dr. A. B. Road, Worli Naka, Mumbai – 400 018.

Q3 FY26 Financial Performance

The published financial results revealed challenging operational performance for the quarter ended December 31, 2025:

Nine-Month Performance Overview

For the nine-month period ended December 31, 2025, the company showed mixed results:

Board Approval and Auditor Review

The Board of Directors approved these unaudited financial results during their meeting held on February 10, 2026. Chairman & Director Lalit Kumar Daga (DIN-00089905) signed the published results. The financial results were subjected to limited review by statutory auditors, who noted that provision for gratuity and leave encashment has not been made as per actuarial valuation as required under Ind AS 19.

Business Operations and Capital Structure

Nirav Commercials operates in a single business segment focused on manufacturing aluminium products. The company maintains its equity share capital at ₹0.39 crores with a face value of ₹10 per share. Despite operational losses at the net level, the company recorded significant other comprehensive income, resulting in total comprehensive income of ₹0.67 crores for Q3 FY26.