Summary of Key Information:

Reporting Period: Quarter and Year ended 31st March 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Audited Financial Results and Corporate Actions

Audit Opinion:

Adverse Opinion - The statutory auditors, G. D. Apte & Co., issued an adverse opinion on the consolidated financial results citing four material uncertainties.

Key Financial Highlights [Rs. in Lakhs]:

Consolidated Results:

Year Ended 31-Mar-2026 (Audited):

  • Revenue from Operations: ₹99,247.61
  • Total Income: ₹99,247.79
  • Net Profit: ₹34,012.42
  • EPS: ₹36.48
  • Other Equity: ₹33,281.81
  • Cash and Cash Equivalents: ₹7,518.04
  • Bank Balances (other): ₹31,291.23
  • Total Assets: ₹2,67,584.14
  • Total Liabilities: ₹1,36,773.51
  • Borrowings: ₹74,581.23 (Non-current: ₹59,428.58 + Current: ₹15,152.65)

Quarter Ended 31-Mar-2026 (Audited):

  • Revenue from Operations: ₹29,253.89
  • Total Income: ₹29,253.89
  • Net Profit: ₹4,235.55
  • EPS: ₹3.95

Standalone Results:

Not Specified

Segment-wise Performance [Rs. in Lakhs]:

Year Ended 31-Mar-2026:

  • Wind Mills: Revenue ₹2,293.65, Segment Profit ₹409.35
  • Infrastructure: Revenue ₹96,953.96, Segment Profit ₹57,454.20
  • Total Segment Revenue: ₹99,247.61
  • Total Segment Profit: ₹57,863.55

Quarter Ended 31-Mar-2026:

  • Wind Mills: Revenue ₹251.48, Segment Loss (₹38.96)
  • Infrastructure: Revenue ₹29,002.41, Segment Profit ₹8,681.54
  • Total Segment Revenue: ₹29,253.89
  • Total Segment Profit: ₹8,642.58

Corporate Actions:

1. Re-appointment of Director: Board approved re-appointment of Mr. B. S. Mitkari (DIN: 03632549) as Director liable to retire by rotation, subject to shareholder approval at AGM.

2. Change of Statutory Auditors: M/s. G. D. Apte & Co. will retire at 26th AGM. Board approved appointment of Kirtane & Pandit LLP, Chartered Accountants, Pune (Firm Registration No. 105215W/W100057) as Statutory Auditors for 5 years from FY 2026-27 to FY 2030-31, subject to shareholder approval.

Other Significant Information:

1. Subsidiary Structure: Consolidation includes NICE (74.52%), NHDL (69.53%), NECE (42.16% step-down), and BFUL Resources (100%).

2. NECE Preference Shares: CCPS of ₹49,998.53 lakhs issued in FY11 were converted to equity in FY17. Management maintains equity classification despite auditor disagreement.

3. CRPS Extension: NICE's 7% Cumulative Redeemable Preference Shares tenure extended to 25th March 2040 by NCLT order dated 30th July 2025, reducing borrowings by ₹3,331.92 lakhs.

4. Advance to NECE: ₹3,700 lakhs advance for land acquisition outstanding for over 15 years, eliminated in consolidation.

5. Exceptional Items: Net exceptional item of (₹88.99) lakhs for FY26 due to Labour Code provision adjustments.