NK Industries Ltd

NK Industries Ltd: Trading Window closed from 01 October, 2026 till 48 hours after the declaration of the financial results for the quarter and half year ended 30th September, 2026

AGM Details

• Date: 23 September 2026; start time 11:30 AM; via VC/OAVM.
• Record date for voting: 16 September 2026.
• Meeting concluded around 11:41 AM.

Key Resolutions

• Res 1 (Ord): Adopt Standalone and Consolidated financial statements for year ended 31 March 2026.
• Res 2 (Ord): Re-appoint Hasmukhbhai Kacharabhai Patel on rotation.
• Res 3 (Ord): Approve related party transactions under Section 188.
• Res 4 (Special): Remuneration to CMD Nimish Keshavlal Patel for remaining term.

Voting Results

• Res 1: Passed; 4,361,845 votes in favour, 0 against.
• Res 2: Passed; 4,361,845 votes in favour, 0 against.
• Res 3: Passed; 83,602 votes in favour, 0 against.
• Res 4: Passed; 4,123,165 votes in favour, 0 against.

Dividend

• Dividend: Not proposed or declared.

Director Changes

• Re-appointment of Hasmukhbhai Patel on rotation.

Auditors

• Auditor appointments/changes not disclosed in this chunk.

Material Related Party Transactions

• Res 3 approved related party transactions under Section 188; counterparty not disclosed.

Other Material Approvals

• No additional material approvals reported beyond the four resolutions.

AGM Details

• Date/time/mode: 23 September 2026, 11:30 AM, via VC/OAVM.
• Record date for voting: 16 September 2026.
• Meeting concluded at 11:41 AM.

Key Resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements (Ordinary).
• Resolution 2: Re-appointment by rotation of a director (Ordinary).
• Resolution 3: Approval of related party transactions under Section 188 (Ordinary).
• Resolution 4: Remuneration of CMD for remaining term (Special).

Voting Results

• Resolution 1 passed; in favour with no opposition.
• Resolution 2 passed; in favour with no opposition.
• Resolution 3 not passed; limited support observed.
• Resolution 4 passed; special resolution with substantial in-favour votes.

Director Changes

• Director by rotation re-appointment approved.
• No other director changes reported.

Auditors & Secretarial

• No auditor changes disclosed.
• No secretarial/audit changes disclosed.

Related Party & Other Approvals

• Material related party transactions did not receive approval.
• Remuneration for CMD approved as a special resolution.

AGM details

• Date/time: 23 September 2026 at 11:30 AM; Mode: VC/OAVM.
• Record date: 16 September 2026.
• Quorum achieved with 37 members attending.

Resolutions put to vote

• Adoption of standalone and consolidated financial statements for FY 2026.
• Re-appointment of Hasmukhbhai Kacharabhai Patel as Whole Time Director.
• Approval for related party transactions under Section 188.
• Remuneration for Nimish Patel, CMD, for remaining term approved.

Voting status

• Combined voting results to be announced and uploaded on exchanges and company site.

Director changes / Remuneration

• Nimish Patel re-appointed CMD; remuneration for remaining term approved (Apr 1, 2026–Mar 31, 2028).

Auditors

• No changes in statutory/secretarial/cost auditors disclosed.

Key dates

• Book closure for NKIND (Equity) from 17 September 2026 to 23 September 2026 inclusive.
• Purpose: book closure to facilitate AGM attendance and voting.
• AGM scheduled for 23 September 2026 at 11:30 a.m. IST via VC/OAVM.
• Remote e-voting from 20 September 2026 to 22 September 2026.
• Cut-off date for voting eligibility fixed 16 September 2026.
• Equity shares NKIND (Security Code 519494) are the affected security.

Financial snapshot

• Standalone revenue from operations ₹240.00 lakh; flat YoY.
• Consolidated revenue from operations ₹1,244.89 lakh; down from ₹1,612.82.
• Standalone total income ₹288.47 lakh; down from ₹304.51.
• Consolidated total income ₹1,296.96 lakh; down from ₹1,680.65.
• Standalone PBT before tax ₹-285.79 lakh; improved vs ₹-311.22.
• Consolidated PBT ₹-365.52 lakh; slightly worse vs ₹-363.53.
• Standalone PAT ₹-277.35 lakh; prior year ₹-314.63.
• Consolidated PAT ₹-362.31 lakh; prior year ₹-355.27.
• Standalone EPS ₹-4.61; Consolidated EPS ₹-6.03.

Dividend & cash flow

• No dividend declared for FY2025-26 due to losses.
• Net cash from operations (Standalone) ₹-279.27 lakh.
• Cash and cash equivalents ₹61.50 lakh at year-end.
• No bank borrowings; lease liabilities ₹98.46 lakh (non‑current).

Balance sheet posture

• Standalone and Consolidated assets show ongoing liquidity challenges.
• Current ratio stands at 8.08 (standalone).
• No term loans; lease liabilities observed; total assets near ₹1,89,061.67 lakh (consolidated).
• Properties with titles not in company name carry ₹18.86 lakh carrying value.

Audit & going concern

• Auditors issued qualified opinion on standalone Ind AS; going concern emphasized.
• Accumulated losses standalone: ₹35,492.13 lakh; consolidated: ₹35,763.86 lakh; negative net worth.
• NSEL/MPID/ED actions are ongoing; amounts partially indeterminable.

Governance & board

• Board includes Nimish K. Patel (Chairman/MD) and Hasmukh K. Patel (WTD).
• Snehal Patel and Himanshi Shah are Independent Directors; Jelin Dodiya resigned Jan 2, 2026.
• Ashna Harishkumar Pahwa appointed Company Secretary 13 Mar 2026.

Related party transactions

• Maximum annual related-party transactions cap with NK Proteins Pvt Ltd ₹200 crore.
• Dry lease of factory to NK Proteins; arm's length; renewal 1 year from Apr 1, 2026.
• Closing balances with related parties include NK Oil Mills ₹961.60 lakh and NK Proteins ₹2,345.73 lakh.

Subsidiaries & consolidation

• Three wholly owned subsidiaries: NK Oil Mills, Banpal OilChem, Tirupati Retail India.
• AWN Agro Pvt Ltd not consolidated due to loss of control; Annexure AOC‑1 included.
• Consolidated statements reflect subsidiaries; JV AWN Agro not consolidated.

Risks & outlook

• Management aims revival via cost controls and asset utilization; liquidity remains constrained.
• Castor oil market dynamics, regulatory risk, and ongoing litigations pose downside risk.

AGM Details

• 38th AGM on 23 September 2026 at 11:30 A.M. through VC/OAVM.
• Cut-off voting date: 16 September 2026 for e-voting eligibility.
• Members’ register closure 17–23 September 2026 (inclusive).

Key Resolutions

• Ordinary: Adopt standalone and consolidated financial statements and reports.
• Ordinary: Re-appointment of Hasmukhbhai Patel as Director, retiring by rotation.
• Ordinary: Approve related party transactions with NK Proteins Pvt Ltd up to ₹200 crore.
• Special: Approve remuneration for Nimish Keshavlal Patel for remaining term up to ₹50 lakh p.a.

Dividend

• No dividend proposed or declared for 2025-26 due to losses.

Voting Results

• Voting results not disclosed in this filing.

Director Changes

• Hasmukh Patel retires by rotation; reappointed as Director.
• Jelin Dodiya resigned as Company Secretary on 02-01-2026.
• Ashna Harishkumar Pahwa appointed Company Secretary & Compliance Officer on 13-03-2026.
• Nomination & Remuneration Committee: Nimish Patel added as member from 30-03-2026; Hasmukh Patel ceased.

Auditors

• Statutory Auditor: M/s Pankaj R. Shah & Associates; 5-year term (35th–40th AGM, 2023–2027).
• Secretarial Auditor: M/s Chirag Shah & Associates; 5-year term (2025–2030), subject to AGM approval.

Related Party Transactions

• RPT with NK Proteins Pvt Ltd; Dry Lease renewal; 1-year from 01/04/2026; ₹200 crore.

Other Material Approvals

• Remuneration for MD approved for remaining term; up to ₹50 lakh per annum.

Financial results and AGM notice

• Unaudited standalone and consolidated quarterly results for quarter ended 30 June 2026 approved; limited review reports obtained.
• Notice of AGM and Directors' Report for FY 2025-26 approved.

Auditor comments and going concern

• Review report contains qualified opinion basis due to NSEL-related transactions; liabilities subjudice.
• Emphasis of Matter: accumulated losses and negative net worth; going concern based on management revival plan.

Regulatory and legal disclosures

• NSEL recovery proceedings against NK Proteins and NK Industries; liabilities not quantified; subjudice.
• MPID Act attachment on assets; matter subjudice; no quantified liability.
• ED/PMLA proceedings and related appeals; subjudice; impact not quantified.