NIBE Ltd

Director resignation and committee chair cessation

• Ranjana Manoj Mimani resigns as Non-Executive, Non-Independent Director effective Sept 29, 2026 due to pre-occupancy.
• Ceases to be Chairperson of the Stakeholders Relationship Committee from the same date.

AGM details

• Held on September 29, 2026 at 3:00 PM IST via VC/OAVM.
• Meeting duration: 3:00 PM to 3:22 PM.
• Record date for e-voting: September 22, 2026; remote voting window: September 26–28, 2026.
• Total attendees: 44 members via video conferencing.

Resolutions

• Ordinary: Adopt Audited standalone and Consolidated Financial Statements with Board and Audit reports.
• Ordinary: Declare dividend of Rs 1.30 per equity share.
• Ordinary: Re-appoint Mrs. Ranjana Manoj Mimani, retiring by rotation.
• Special: Ratify cost auditors' remuneration for FY ending March 31, 2027.
• Special: Authorize Board to borrow funds beyond limit under Section 180(1)(c).
• Special: Authorize Board to create securities on the company’s assets under Section 180(1)(a).
• Special: Approve loans, guarantees, and security under Section 185.
• Special: Board to give loans, guarantees or investments beyond Section 186 limits.
• Ordinary: Approve material related party transactions with Nibe Defence and Aerospace Limited.
• Ordinary: Approve material related party transactions with Nibe Automobile Limited.
• Ordinary: Approve material related party transactions with Karmayogi Manufacturing Private Limited.
• Ordinary: Approve material related party transactions with Nibe Space Private Limited.
• Ordinary: Approve material related party transactions with Nibe Aeronautics Limited.
• Ordinary: Approve material related party transactions with Global Defence Industries Limited.
• Ordinary: Approve material related party transactions with Global Munition Limited.
• Ordinary: Approve material related party transactions with Globe Forge Ltd.

NIBE Ltd: Trading Window closed from Oct 01, 2026 until 48 hours after the announcement of the Unaudited Financial Results for the quarter and half year ending September 30, 2026

MoU announcement

• On 18 September 2026, Naval Group and Nibe Group signed an MoU.
• The MoU sets a framework for cooperation in underwater drones, modular launchers, and mine countermeasure systems.
• It aligns with India's Atmanirbhar Bharat initiative to bolster domestic naval capabilities.

AR access & AGM details

• Letter to shareholders with unregistered emails provides AR FY2025-26 access via website and QR code.
• 21st AGM scheduled for Sept 29, 2026 at 3:00 PM via VC/OAVM.
• AGM cut-off date for voting is Sept 22, 2026.
• Electronic voting window runs Sept 26–28, 2026 (9:00 AM–5:00 PM).
• Annual Report accessible on company site and BSE/NSE portals.
• Reminder to update KYC details for physical shareholders per SEBI circular.

Financial performance

• Standalone revenue from operations: 41,671.34 L; consolidated: 47,444.76 L.
• Standalone PBT: 2,623.56 L; consolidated: 393.29 L.
• Standalone PAT: 1,712.94 L; consolidated: 6.41 L.
• Revenue declined YoY from 48,481.54 L to 41,671.34 L; group revenue 47,444.76 L.
• Standalone EPS: 11.82 Rs; consolidated EPS: 3.88 Rs.
• Dividend per share: Rs 1.30 (13%); cash outflow about Rs 1.98 crore.
• Debt-to-equity: standalone 21.19%; consolidated 23.70%.
• Total assets (standalone): 61,732.59 L; consolidated: 65,295.92 L.
• Net debt (standalone): (7,430.64) L; consolidated: (8,164.09) L.

Dividend & capital return

• Dividend declared: Rs 1.30 per Equity Share (13%).
• Cash outflow approx. Rs 1.98 crore.

Capital structure & liquidity

• Authorized share capital: Rs 30 crore; issued paid-up: Rs 14.94 crore.
• Outstanding shares: 14.94 million; 100% dematerialised.
• Total debt: Rs 9,650.69 L; net debt (standalone): (7,430.64) L; (consolidated): (8,164.09) L.
• Debt-to-equity ratio: standalone 21.19%; consolidated 23.70%.
• Total assets: standalone 61,732.59 L; consolidated 65,295.92 L.

Major business developments

• Completed technical trial for 100 km range system for Indian Army (Pokhran/Joshimath).
• Test-fired SURYASTRA Universal Rocket Launcher System up to 300 km at ITR, Chandipur.
• No Cost No Commitment mortar system NCNC trial for Indian Army.
• Inaugurated Advance Shirdi Defence Manufacturing Complex for 155 mm ammunition.

Governance & leadership

• Board size: 6 Directors; Independent Directors exceed half.
• Rajagopalan Madhavan appointed Independent Director on 25/03/2026.
• CEO changes: Prakash Khose appointed 12/08/2025; Ganesh Nibe appointed CEO 14/08/2026.
• Board met 6 times in FY2025-26.
• KMP changes: CFO and other leadership changes during year.

Related party transactions & governance

• RPT approvals: with NDAL, NAL, KMPL, NSPL, GDIL, Globe Forge, Global Munition per LODR 2015.
• Material RPT thresholds announced: NDAL Rs 290 Cr; NAL Rs 122 Cr; NSPL Rs 80 Cr; KMPL Rs 78.5 Cr; GDIL Rs 242.2 Cr; GFL Rs 336 Cr; GML Rs 336 Cr.
• No material RPT beyond thresholds; all RPTs at arm's length.

Audit & internal controls

• Statutory auditors: Kailash Chand Jain & Co.; Secretarial: D Maurya & Associates.
• Auditor's report: no qualifications; Internal controls deemed adequate and effective.

CSR & sustainability

• CSR spend: Rs 47.07 Lakh; CSR committee met twice; CSR policy on website.
• Annexure-V: CSR projects disclosed; no unspent CSR amount.

Management discussion & outlook

• Defence sector indigenous production growth aided by Atmanirbhar Bharat.
• Opportunities: PLI, space, aeronautics, UAVs; export expansion and domestic procurement priority.
• Risks: policy shifts, inflation, supply chain, currency volatility, skilled labour shortages.

Cash flow highlights

• Operating cash flow: standalone negative; consolidated negative.
• Investing cash flow: standalone -7,798.24 L; consolidated -7,721.06 L.
• Financing cash flow: standalone 12,796.33 L; consolidated 12,704.49 L.

AGM Details

• AGM date/time: 29 September 2026 at 3:00 PM via VC/OAVM.
• Cut-off date for voting eligibility: 22 September 2026.
• Remote e-voting opens 26 September 2026 and closes 28 September 2026.
• Venue deemed at registered office for VC/OAVM.
• Book closure: 23 to 29 September 2026.
• Record date for e-voting eligibility: 22 September 2026.
• Dividend, if approved, Rs 1.30 per share.

Ordinary Business

• Adopt standalone and consolidated financial statements for FY 2025-26.
• Declare dividend of Rs 1.30 per equity share.
• Re-appoint director retiring by rotation: Mrs. Ranjana Mimani.

Cost Auditor Remuneration

• Ratify cost auditor remuneration for FY 2027: Rs 1,60,000.

Financing Powers

• Borrowing power: up to Rs 1,000 Cr beyond existing limits.
• Pledge/mortgage/charge on assets to secure borrowings up to Rs 1,000 Cr.
• Authority to incur borrowings and delegate powers as needed.
• Authorize board to create charges up to Rs 1,000 Cr.

Related Party Transactions

• NDAL: material RPT up to Rs 290 Cr.
• NAL: material RPT up to Rs 122 Cr.
• KMPL: material RPT up to Rs 78.5 Cr.
• NSPL: material RPT up to Rs 80 Cr.
• Nibe Aeronautics Limited: up to Rs 356 Cr.
• Global Defence Industries Limited: up to Rs 242.2 Cr.
• Globe Forge Limited: up to Rs 336 Cr.
• Global Munition Limited: up to Rs 336 Cr.
• Related parties shall abstain from voting on Items 7–16.

Director Annexure

• Annex: Mrs. Ranjana Mimani; Non-Executive, Non-Independent; re-appointment terms.