Company Overview
Nagpur Power and Industries Limited (Scrip Code: 532362) filed its Annual Report for FY 2025-26 with BSE Limited in compliance with SEBI Regulation 34(1), disclosing significant financial deterioration and operational challenges.
Financial Performance
Consolidated Results: The company reported a net loss of ₹23.06 crore for FY26, a dramatic reversal from the ₹23.78 crore profit in FY25. This occurred despite 35% revenue growth to ₹841.23 crore, driven by strong performance in Electrical (₹446.71 crore) and Electro Mechanical (₹328.42 crore) divisions. The Ferro Alloys segment reported a loss of ₹23.53 crore on ₹66.10 crore revenue.
Standalone Results: The parent company reported a standalone loss of ₹26.15 crore with nil operational revenue, contrasting with its material subsidiary MMCPL which contributed ₹77.51 crore revenue and ₹47.83 lakh profit.
Capital Structure & Liabilities
Total borrowings increased to ₹234.91 crore, predominantly comprising ₹219.80 crore secured working capital loans from Bank of Baroda. The company provided corporate guarantees of ₹310.70 crore for subsidiary credit facilities and disclosed contingent liabilities of ₹43.14 crore related to legal claims. Trade payables surged to ₹151.03 crore from ₹53.15 crore, while investments decreased to ₹190.52 crore from ₹239.52 crore.
Corporate Governance & AGM
The 30th Annual General Meeting is scheduled for September 29, 2026 to approve the financial statements and special business including reappointment of Mr. Gautam Khandelwal as Executive Chairman with ₹24 lakh annual remuneration and Ms. Nidhi Salampuria as director. No dividend was recommended to conserve capital. The board composition includes three independent directors and key managerial personnel Mr. Santosh Khandelwal (CFO) and Ms. Akansha Patel (Company Secretary).
Regulatory Compliance & Penalties
The company faced BSE penalties totaling ₹75,000 plus taxes for delays in filing quarterly results. All auditor reports were without qualifications, and the company disclosed compliance with related party transaction regulations. Employee strength remained at 5 permanent employees with median remuneration of ₹8.65 lakh.
Subsidiary & Ownership Structure
Promoter group Zeppelin Investments Private Limited holds 43.08% stake, with Gautam Khandelwal holding 5.63%. LIC maintains 6.64% institutional holding. The material subsidiary MMCPL (64.65% owned) showed weakened performance with profit declining to ₹47.83 lakh from ₹1.05 crore in FY25.
Operational Metrics
The company reported imports of ₹114.90 crore for raw materials, exports of ₹39.25 crore, and micro enterprise dues of ₹308.20 lakh. Gratuity obligation stood at ₹221.39 lakh with ₹44.35 lakh expense for the year.
The FY26 performance reflects significant operational challenges despite revenue growth, with increased leverage, working capital pressures, and segment-wise profitability issues leading to substantial losses and capital conservation measures.