Nidhi Granites posts zero Q2 revenue and Rs 22.04 lakh loss

Nidhi Granites Limited reported zero standalone revenue and a Rs 22.04 lakh net loss for the quarter ended 30 September 2026, compared with a Rs 27.11 lakh profit in the preceding quarter. Nidhi Granites’ non-current investments were Rs 11.39 crore, accounting for most of its Rs 11.49 crore standalone assets at the reporting date.

What did Nidhi Granites report for the September 2026 quarter?

Nidhi Granites reported no revenue from operations and no other income in the quarter ended 30 September 2026. This compared with revenue from operations of Rs 13.97 lakh and other income of Rs 19.13 lakh in the quarter ended 30 June 2026, when total income was Rs 33.10 lakh.

The standalone net result was a Rs 22.04 lakh loss for the September quarter, against a Rs 27.11 lakh profit in the June quarter and a Rs 32.89 lakh loss in the quarter ended 30 September 2025. Basic and diluted earnings per share, not annualised, were negative Rs 0.28, compared with positive Rs 0.34 in the immediately preceding quarter.

The Board approved the unaudited results on 13 November 2026 after the Audit Committee’s recommendation. The independent auditor issued a limited review report dated 13 November 2026, stating that nothing had come to its attention to indicate that the standalone statement did not make the disclosures required under the listing regulations.

Why did Nidhi Granites make a standalone loss?

Nidhi Granites made the Rs 22.04 lakh loss because it recorded Rs 25.13 lakh of expenses without income in the September 2026 quarter. Other expenses were Rs 22.79 lakh, professional fees were Rs 1.53 lakh and listing fees were Rs 0.81 lakh; the statement reported no material, employee, finance or depreciation expenses.

Other expenses increased from Rs 1.58 lakh in the June 2026 quarter to Rs 22.79 lakh in the September quarter, while professional fees rose from Rs 0.88 lakh to Rs 1.53 lakh. In the corresponding September 2025 quarter, other expenses were higher at Rs 36.19 lakh, contributing to a Rs 37.87 lakh total expense figure and a Rs 32.89 lakh loss.

The September-quarter loss before tax was Rs 25.13 lakh, and the tax line was negative Rs 3.09 lakh, producing the reported post-tax loss of Rs 22.04 lakh. Nidhi Granites did not report exceptional items or other comprehensive income for the quarter, so total comprehensive loss was also Rs 22.04 lakh.

How did Nidhi Granites perform in the first six months?

Nidhi Granites reported Rs 13.97 lakh of standalone revenue and Rs 19.13 lakh of other income for the six months ended 30 September 2026, resulting in total income of Rs 33.10 lakh. It reported a Rs 5.07 lakh net profit for the half year, reversing a Rs 60.98 lakh loss in the six months ended 30 September 2025.

The half-year improvement reflected total expenses of Rs 28.40 lakh, compared with Rs 81.97 lakh a year earlier, while income rose from Rs 10.16 lakh to Rs 33.10 lakh. Other expenses fell to Rs 24.37 lakh from Rs 78.49 lakh, although professional fees increased to Rs 2.40 lakh from Rs 1.85 lakh.

Nidhi Granites reported Rs 4.70 lakh profit before tax for the six-month period, against a Rs 71.80 lakh loss before tax in the corresponding period. Half-year basic and diluted earnings per share, not annualised, were Rs 0.06, compared with negative Rs 0.76 a year earlier, on paid-up equity share capital of Rs 8 crore.

What does Nidhi Granites’ standalone balance sheet show?

Nidhi Granites held Rs 11.39 crore in non-current investments as of 30 September 2026, up from Rs 11.28 crore on 31 March 2026. Those investments represented most of its Rs 11.49 crore total standalone assets, while current assets declined to Rs 9.16 lakh from Rs 15.55 lakh.

Cash and cash equivalents fell to Rs 1.43 lakh at 30 September 2026 from Rs 9.51 lakh at 31 March 2026. The half-year cash-flow statement reported an Rs 8.08 lakh net reduction in cash and cash equivalents, and showed Rs 14 lakh of investment in another entity under investing activities.

Total equity increased to Rs 11.41 crore at 30 September 2026 from Rs 11.35 crore at the preceding year-end, including Rs 8 crore of equity share capital and Rs 3.41 crore of other equity. Nidhi Granites reported no borrowings at either date; current liabilities were Rs 1.77 lakh, including Rs 0.90 lakh of trade payables, while deferred tax liabilities were Rs 6.24 lakh.

The filing says balances under trade payables, other financial assets, other current liabilities and banks remain subject to confirmation and reconciliation. Any consequential adjustment will be accounted for in the year of confirmation or reconciliation, leaving this matter unresolved in the standalone accounts as of 30 September 2026.

How did Nidhi Granites’ standalone result compare with the group?

Nidhi Granites’ consolidated financial statements reported Rs 18.98 crore revenue from operations and Rs 2.35 crore net profit for the quarter ended 30 September 2026. That contrasts with the parent-only statement’s zero revenue and Rs 22.04 lakh loss.

Consolidated revenue increased from Rs 15.84 crore in the June 2026 quarter and Rs 13.18 crore in the September 2025 quarter to Rs 18.98 crore. Consolidated net profit was lower than the Rs 2.90 crore reported in June 2026 but higher than Rs 1.29 crore a year earlier; consolidated basic earnings per share were Rs 2.96, versus negative Rs 0.28 on the standalone statement.

For the six months ended 30 September 2026, the group reported Rs 34.82 crore of revenue from operations and Rs 5.25 crore net profit, against Rs 32.99 crore and Rs 3.53 crore respectively a year earlier. Nidhi Granites identified four reportable business segments at group level, whereas the standalone entity said it operates in one segment and therefore did not apply Indian Accounting Standard 108 on operating segments.

Conclusion

Nidhi Granites’ September 2026 standalone result shows an entity with no quarterly operating revenue, a Rs 22.04 lakh loss and an asset base concentrated in Rs 11.39 crore of non-current investments. The first-half standalone profit of Rs 5.07 lakh was nevertheless better than the previous year’s Rs 60.98 lakh loss, while the consolidated group reported Rs 2.35 crore quarterly profit on Rs 18.98 crore of revenue.

The next disclosed development is Nidhi Granites’ acquisition of an additional 16,00,000 Jowela Exim Private Limited shares for Rs 1.60 crore on 15 October 2026. That raised its holding to 50.5%, making Jowela a subsidiary after the 30 September reporting date; future filings can show how that change and the pending balance confirmations affect reported standalone and consolidated figures.