Financial Performance Overview

Nimbus Projects reported a dramatic turnaround from profitability to significant losses in FY26. The consolidated financial results show a net loss of ₹8,798.86 lakhs, a severe decline from the previous year's profit of ₹6,367.50 lakhs. This resulted in a basic and diluted loss per share of ₹(45.55), compared to earnings per share of ₹58.75 in FY25. The standalone performance was also weak with revenue of ₹146.73 lakhs and a loss of ₹1,212.94 lakhs.

Key factors driving the losses included a ₹4,056.84 lakh loss on sale of investments and a ₹1,154.89 lakh loss on fair value changes of equity instruments. Significant expenses included Advertisement Expenses of ₹806.82 lakhs and Brand Building expenses of ₹197.43 lakhs.

Corporate Restructuring and Amalgamation

The company completed a major corporate restructuring through the amalgamation of nine transferor companies (including Gupta Fincaps Pvt. Ltd., Urvashi Finvest Pvt. Ltd.) sanctioned by NCLT Delhi and Kolkata. The scheme, with an appointed date of April 1, 2022, added identifiable net assets of ₹21,098.45 lakhs at fair value. The purchase consideration of ₹10,600.92 lakhs resulted in a capital reserve of ₹10,498.94 lakhs and goodwill of ₹1.41 lakhs. The authorized share capital increased from ₹4,500 lakhs to ₹9,721 lakhs due to the merger.

33rd Annual General Meeting Details

The 33rd AGM is scheduled for September 29, 2026, to be conducted virtually via video conference. The meeting includes nine resolutions covering adoption of financial statements, director appointments (including Ms. Neha Atal Poddar as Independent Woman Director and Mr. Anand Kumar as Non-Executive Director), appointment of new statutory auditors (M/s Doogar & Associates), and approval of material related party transactions totaling over ₹1,900 crore with various promoter entities and associate companies.

Remote e-voting will be available through NSDL from September 26-28, 2026, with Mr. Kapil Dev Vashisth appointed as scrutinizer. The cut-off date for determining eligible members is September 22, 2026.

Corporate Governance and Board Structure

The Board maintained full compliance with SEBI LODR regulations, holding 11 meetings during FY26 with excellent attendance records. The Board comprised five Directors including three independent members. Key committees (Audit, Nomination and Remuneration, Stakeholders Relationship) were fully functional with regular meetings.

Management changes included the resignation of CFO Mr. Jitendra Kumar and appointment of Mr. Nitesh Kumar Gupta as new CFO effective February 10, 2026. Ms. Ritika Aggarwal continued as Company Secretary and Compliance Officer.

Project Portfolio and Real Estate Developments

The company continues to develop several real estate projects across Noida and Greater Noida:

  • Nimbus Sunworld Arista: Successfully launched in Sector-168, Noida with 340 residential units
  • The Palm Village: Located on Yamuna Expressway, has booked 962 residential units and 16 commercial units
  • Express Park View-II: Received Completion Certificate on January 28, 2026
  • The Hyde Park: Completed with 2,091 flats and 58 commercial units sold
  • The Golden Palms: Received Completion Certificate for all phases with 1,393 flats booked

Total collections across projects exceeded ₹2,800 crore, demonstrating continued operational activity despite financial challenges.

Related Party Transactions and Financial Position

The company engaged in significant related party transactions, particularly with promoter entities and associate companies including Capital Infraprojects, Nimbus India Limited, and World Resorts Limited. Total closing balances showed receivables from related parties of ₹9,093.11 lakhs and payables of ₹5,870.74 lakhs.

The financial position deteriorated with key ratios showing Debt-Equity Ratio increasing to 0.85 from 0.55 and Return on Equity turning negative at -0.27%. The company maintained 96.31% of shares in dematerialized form with promoter holding at 70.50%.

Regulatory Compliance and Audit Matters

The company confirmed compliance with all mandatory requirements of Corporate Governance under SEBI LODR Regulations. No penalties or strictures were imposed by regulatory authorities during the last three years. The financial statements received unmodified audit opinions from Oswal Sunil & Company, though with emphasis on matters relating to investment in partnership firms and going concern issues in associate companies.

Contingent liabilities included various income tax demands totaling approximately ₹9.18 lakhs and a GST demand of ₹14.18 lakhs. The company maintained adequate internal financial controls and used accounting software with active audit trail features throughout the year.