Nidhi Granites' September profit rises 82% to Rs 2.35 crore

Nidhi Granites Limited reported consolidated net profit of Rs 2.35 crore for the quarter ended September 30, 2026, up 82% from Rs 1.29 crore a year earlier, as financial technology segment profit reached Rs 2.88 crore and paper and paperboard revenue rose to Rs 12.25 crore.

What were Nidhi Granites’ September-quarter earnings?

Nidhi Granites recorded consolidated revenue from operations of Rs 18.98 crore in the September 2026 quarter, a 44% increase from Rs 13.18 crore in the September 2025 quarter. Total income, including Rs 3.59 lakh of other income, was Rs 19.01 crore, compared with Rs 13.25 crore a year earlier.

Profit before tax rose to Rs 3.48 crore from Rs 1.83 crore, while tax expense increased to Rs 1.13 crore from Rs 54.09 lakh. Net profit consequently rose to Rs 2.35 crore from Rs 1.29 crore, and total comprehensive income was Rs 2.37 crore against Rs 1.29 crore. Basic and diluted earnings per share, which were not annualised, increased to Rs 2.96 from Rs 1.61.

Which businesses generated Nidhi Granites’ quarterly revenue and profit?

Paper and paperboard was Nidhi Granites’ largest revenue segment in the September 2026 quarter, generating Rs 12.25 crore, compared with Rs 9.45 crore in the corresponding quarter a year earlier. Financial technology and related services generated Rs 6.73 crore, up from Rs 3.73 crore, while the construction-material and garments segments reported no revenue in the quarter.

Financial technology and related services generated the largest segment result before tax and interest, at Rs 2.88 crore, compared with Rs 1.62 crore a year earlier. Paper and paperboard segment result rose to Rs 81.39 lakh from Rs 52.34 lakh, whereas garments recorded a Rs 6,000 loss. The combined segment result was Rs 3.70 crore, before Rs 21.53 lakh of other unallocated expenditure net of unallocated income.

How did Nidhi Granites perform in the first half of FY27?

Nidhi Granites’ revenue from operations for the six months ended September 30, 2026 was Rs 34.82 crore, up from Rs 32.99 crore in the six months ended September 30, 2025. Net profit for the first half rose to Rs 5.25 crore from Rs 3.53 crore, while profit before tax increased to Rs 7.34 crore from Rs 4.88 crore.

Financial technology revenue increased to Rs 11.81 crore from Rs 8.39 crore in the first half, and its segment result rose to Rs 5.51 crore from Rs 3.86 crore. Paper and paperboard revenue declined to Rs 22.87 crore from Rs 24.50 crore, although its segment result increased to Rs 1.74 crore from Rs 1.59 crore.

Sequentially, September-quarter revenue of Rs 18.98 crore exceeded the June-quarter figure of Rs 15.84 crore, but net profit declined from Rs 2.90 crore. Total expenses rose to Rs 15.53 crore in the September quarter from Rs 12.18 crore in the June quarter, while profit before tax fell to Rs 3.48 crore from Rs 3.85 crore.

What changed in Nidhi Granites’ balance sheet and cash flow?

Nidhi Granites’ consolidated assets stood at Rs 42.26 crore on September 30, 2026, compared with Rs 32.70 crore on March 31, 2026. Non-current assets increased to Rs 16.83 crore from Rs 11.19 crore, including intangible assets of Rs 6.49 crore versus Rs 3.68 crore, while current trade receivables rose to Rs 13.18 crore from Rs 9.15 crore.

Total equity increased to Rs 27.80 crore from Rs 22.54 crore, with other equity at Rs 19.80 crore at September 30. Current liabilities increased to Rs 13.23 crore from Rs 8.96 crore, including trade payables to micro and small enterprises of Rs 5.80 crore, compared with Rs 4.19 crore at the March year-end.

Cash generated from operating activities in the first half was Rs 7.71 crore, compared with Rs 2.45 crore in the prior-year period. Investing activities used Rs 6.83 crore, including Rs 4.28 crore for property, plant, equipment, intangible assets and right-of-use assets, and Rs 2.45 crore of loans advanced. Cash and cash equivalents ended the period at Rs 4.61 crore, up from Rs 3.88 crore at March 31.

Conclusion

Nidhi Granites’ September-quarter mix showed paper and paperboard as the main revenue contributor, at Rs 12.25 crore, while financial technology and related services produced the largest segment result before tax and interest, at Rs 2.88 crore. In the first half, fintech revenue and segment profit both increased, while paper revenue declined despite a higher segment result.

The next reported periods will show the effect of Nidhi Granites’ October 15, 2026 acquisition of an additional 16,00,000 Jowela Exim Private Limited shares for Rs 1.60 crore. The transaction raised its holding to 50.5%, making Jowela a subsidiary after the September 30 reporting date; the company also disclosed that several balance-sheet balances remain subject to confirmation and reconciliation.