Financial Results Approval
The Board approved the Audited Standalone and Consolidated Financial Results for the Quarter and Year ended 31 March 2026. The auditor's report contains an unmodified opinion, as confirmed by the CFO declaration.
Key Financial Figures (Standalone)
Quarter Ended 31 March 2026:
- Revenue from Operations: ₹251.62 crore
- Other Income: ₹20.51 crore
- Total Income: ₹272.13 crore
- Total Expenses: ₹155.68 crore
- Profit Before Tax: ₹116.45 crore
- Total Tax Expense: ₹23.40 crore
- Profit After Tax: ₹93.05 crore
- Basic & Diluted EPS: ₹13.21
Year Ended 31 March 2026:
- Revenue from Operations: ₹932.06 crore
- Other Income: ₹99.52 crore
- Total Income: ₹1,031.58 crore
- Total Expenses: ₹515.91 crore
- Profit Before Tax: ₹515.67 crore
- Total Tax Expense: ₹102.87 crore
- Profit After Tax: ₹412.80 crore
- Basic & Diluted EPS: ₹58.59
- Reserves (excluding Revaluation): ₹2,982.40 crore
Segment Performance (FY2026)
- Realty: Revenue ₹397.92 crore, Profit ₹331.76 crore
- Bombay Exhibition Center: Revenue ₹259.82 crore, Profit ₹133.12 crore
- Indabrator: Revenue ₹35.81 crore, Profit ₹2.65 crore
- Foods: Revenue ₹238.51 crore, Profit ₹25.79 crore
- Way-Side Amenities: Revenue not specified, Loss ₹5.28 crore
Dividend Recommendation
The Board recommended a Final Dividend of ₹7 per equity share (face value ₹2 each) for FY2025-26, compared to ₹6.50 per share in the previous year. The total dividend payout amounts to ₹49.32 crore, subject to shareholder approval at the 67th Annual General Meeting.
Annual General Meeting
The 67th AGM will be held on Monday, 27 July 2026 at 3:30 pm (IST) through video conference/other audio-visual means.
Record Date
The record date for determining dividend entitlement and AGM purpose is fixed as Monday, 20 July 2026. The dividend will be paid on or before Wednesday, 12 August 2026 if approved by shareholders.
Management Appointment
The Board approved the appointment of Mr. Rajesh G. Upadhyay (DIN: 10963113) as Additional Director & Whole-time Director, designated as Executive Director (Commercial & Operations) effective 1 June 2026. His term will be for three years until 31 May 2029, subject to shareholder approval.
Profile of Mr. Upadhyay:
- Age: 66 years, Bachelor of Commerce
- 45+ years experience in manufacturing operations and engineering
- Joined Nesco in 1982 as cost assistant, rose to Vice President (Operations) for Indabrator division until retirement in 2018
- Currently serves in consulting capacity
- Expertise in shot blasting machines, spares and abrasives manufacturing
- Led teams of 300+ employees and contributed to CSR initiatives in Gujarat
- Not related to any existing Directors or KMPs
Auditor Appointments
Internal Auditors for FY2026-27:
- Deloitte Touche Tohmatsu India LLP (LLP Identification Number AAE-8458) reappointed
Cost Auditors for FY2026-27:
- M/s. Y.S. Thakar & Co. (Firm Registration No. 000318) reappointed for Indabrator division
- Remuneration subject to shareholder ratification
Board and Committee Reconstitution (effective 1 June 2026)
Board Composition:
1. Mr. Krishna S. Patel - Chairman & Managing Director
2. Ms. Sudha S. Patel - Non-Executive Non-Independent Director
3. Ms. Amrita V. Chowdhury - Non-Executive Independent Director
4. Mr. Manish I. Panchal - Non-Executive Independent Director
5. Dr. Ramakrishnan Ramamurthi - Non-Executive Independent Director
6. Mr. Arun L. Todarwal - Non-Executive Independent Director
7. Mr. Rajesh G. Upadhyay - Additional and Whole-time Director
Committee Memberships:
Detailed committee assignments provided for each director across various board committees.
Meeting Details
The Board Meeting commenced at 4:15 pm and concluded at 6:30 pm on 25 May 2026.
Additional Information
- The financial results incorporate the impact of new labor codes effective from 21 November 2025, assessed as not material
- Figures for previous periods have been regrouped where necessary
- Cash and cash equivalents stood at ₹14.26 crore as of 31 March 2026
- Paid-up equity share capital remains unchanged at ₹14.09 crore