Board Meeting Details

The Board of Directors meeting was held on 12th November 2026, commencing at 02:00 PM and concluding at 06:10 PM. The meeting was previously intimated on 02.11.2026.

Matters Approved by Board

  • Unaudited Financial Results: Approved the unaudited Limited Review (Standalone and Consolidated) Financial Results for the 2nd Quarter ended 30th September 2026 along with the Limited Review Report submitted by Statutory Auditors BCAG & Associates (Formerly Basu Chanchani & Deb, Chartered Accountants).
  • Results Publication: Approved the extract of financial results in prescribed format for publication in one English and one Bengali newspaper pursuant to Regulation 47 of SEBI (LODR) Regulations, 2015.

Financial Results Overview (Standalone)

For Quarter Ended 30.09.2026 (Unaudited):

  • Total Income: ₹0.15 lakh
  • Total Expenses: ₹21.00 lakh
  • Loss before tax: ₹(20.85) lakh
  • Loss for the period: ₹(20.85) lakh
  • EPS: ₹(0.03) per share (basic and diluted)

For Six Months Ended 30.09.2026 (Unaudited):

  • Total Income: ₹0.57 lakh
  • Total Expenses: ₹43.06 lakh
  • Loss before tax: ₹(42.49) lakh
  • Loss for the period: ₹(42.49) lakh
  • EPS: ₹(0.05) per share (basic and diluted)

Comparative Figures (Previous Year):

  • Q2 FY26: Loss of ₹(21.64) lakh
  • H1 FY26: Loss of ₹(784.26) lakh
  • FY26 Audited: Loss of ₹(1585.51) lakh

Key Financial Position (Standalone as at 30.09.2026)

  • Equity Share Capital: ₹1656.36 lakh
  • Other Equity: ₹(70400.58) lakh
  • Total Equity: ₹(68744.22) lakh (Negative Net Worth)
  • Total Borrowings: ₹10477.68 lakh (Non-current: ₹1.04 lakh, Current: ₹10476.64 lakh)
  • Other Financial Liabilities: ₹57858.33 lakh
  • Total Assets: ₹445.29 lakh
  • Cash and Cash Equivalents: ₹5.92 lakh
  • Bank Balances (Other): ₹15.00 lakh

Cash Flow Statement (Standalone H1 FY27)

  • Net Cash from Operating Activities: ₹(29.47) lakh
  • Net Cash from Investing Activities: ₹0.03 lakh
  • Net Cash from Financing Activities: ₹0.00 lakh
  • Net decrease in cash: ₹(28.92) lakh
  • Opening cash balance: ₹49.84 lakh
  • Closing cash balance: ₹20.92 lakh

Consolidated Results

For Quarter Ended 30.09.2026 (Unaudited):

  • Total Income: ₹0.16 lakh
  • Total Expenses: ₹21.26 lakh
  • Loss before tax: ₹(21.10) lakh
  • Loss for the period: ₹(23.95) lakh (after tax expense of ₹2.85 lakh)
  • EPS: ₹(0.03) per share (basic and diluted)

Consolidated Entities:

1. Nicco Uco Alliance Credit Limited (Holding Company)

2. Nicco Insurance Agents and consultants Ltd (Subsidiary)

Auditors' Review Report Key Notes

BCAG & Associates issued a limited review report drawing attention to several critical notes:

1. NBFC License Restoration: Appeal against RBI's order regarding cancellation of NBFC Licence is pending before Appellate Authority for Non-banking Financial Companies.

2. SFIO Proceedings: Few cases initiated by SFIO against the company relating to accounting violations are pending before Chief Metropolitan Magistrates' Court.

3. Bank Balance Confirmations: Confirmations of balances are not available from banks where accounts have turned NPA.

4. Investor Complaints: No pending investors complaints as on 30th September 2026.

5. Interest Non-Provision:

  • The board has decided to keep in abeyance charging of interest on dues to consortium bankers and International Finance Corporation Washington with effect from 01.04.2015
  • This has resulted in cumulative understatement of loss by ₹2719.00 crore, inclusive of ₹237 crore for current period
  • Specifically, no interest has been provided for ₹877.16 lakh on three banks (Axis Bank, Indusind Bank and IFCI Ltd) for June & September 2026 quarters
  • The rationale provided is that cases filed by these three banks before Debt Recovery Tribunal have been dismissed for default on the part of the banks
  • The company has taken steps for passing Board Resolutions to give financial effect in the next quarter

Additional Information

  • Property, Plant and Equipment have been taken at book value
  • Previous period figures have been rearranged/regrouped/reclassified wherever necessary
  • The results have been reviewed by the Audit Committee and taken on record by the Board of Directors
  • Scanned copies of results along with Auditors' Report have been posted on company website (www.nuacl.com)