Nitco Ltd. — Capital/Financing Update 2024

Dec 18, 2024

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NITCO/SE/2024-25/60 December 18, 2024

To,

Corporate Service Department The Listing Department BSE Limited National Stock Exchange of India Limited Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Script code: NITCO Script code: 532722

Sub: Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (‘the Listing Regulations’) - Press Release

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a press release dated December 17, 2024 titled NITCO secures Rs. 105 crores order from Prestige Group .

Kindly take the above information on your records.

Thanking You,

Yours faithfully, For NITCO Limited VIVEK Digitally signed by VIVEK PRANNATH TALWAR DN: c=IN, st=Maharashtra, 2.5.4.20=1ba122b609153a6d361743f9a364e2289b1fe21 16e39287aee98d9129baa257b, postalCode=400026, street=Mumbai Carmichael Road, PRANNATH pseudonym=7579bba5c17a4f29a31a465a6afd3057, title=7098, serialNumber=487a93c67f0077b930e213846f4b503493 TALWAR 6c03ce6ac9ee1c56371ad800c03dc8, o=Personal, cn=VIVEK PRANNATH TALWAR Date: 2024.12.18 16:31:07 +05'30'

_____________

Vivek Talwar Chairperson & Managing Director DIN: 00043180

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Registered Office: NITCO Limited, 3/A, Recondo Compound, Sudam Kalu Ahire Marg, Glaxo, Worli Colony, Mumbai, Maharashtra, India, 400 030. Tel.: 91-22-25772800|25772790. CIN: L26920MH1966PLC016547. Email: investorgrievances@nitco.in Website: www. nitco.in

PRESS RELEASE

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NITCO secures Rs. 105 crores order from Prestige Group

Mumbai, December 17, 2024 – NITCO Ltd., a legacy brand in tiles, marble, and mosaics, today announced that the company has secured orders of Rs 105 crore from the real estate firm Prestige Group. This order reinforces NITCO's reputation as a trusted partner for high-quality tiles and marble.

As per the order, NITCO will supply tiles and marble to Prestige Group’s several real estate projects spread across various cities in the country. Based on the Prestige’s ongoing projects, NITCO expects the order size to increase to about Rs 210 crore.

The company continues to expand its footprint and contribute to shaping India’s architectural landscape with innovative and sustainable surface solutions. The promoters of NITCO Limited have a 40 year old relationship with the Razaak family of the Prestige Group, which exclusively buys its requirements from NITCO.

Commenting on the development, Mr. Vivek Talwar, Managing Director, NITCO Limited, said, “We are delighted to strengthen our association with the Prestige Group, a name synonymous with excellence in real estate with projects in Bangalore, Hyderabad, Chennai, Cochin, NCR, Mumbai, Pune and Goa. This order is a testament to NITCO's commitment to delivering world-class marble and tiles, which enhance the aesthetic appeal of India's finest properties. Our focus is not just on being a supplier of products but a partner with our customers and we are very grateful to Prestige who have given us this opportunity and we try hard to keep up to their very lofty standards.”

As part of its turnaround plans, NITCO undertook several measures over the past year or so like getting a strategic investor Authum Investment & Infrastructure Ltd, restructured its debt, infused fresh capital, and sold its land parcel in Kanjurmarg.

About NITCO Tiles & Marble

With more than 60 years of design, tech and innovation expertise, NITCO Tiles & Marble is a trusted name in the tile manufacturer industry. From designer bathroom tiles and designer kitchen tiles to outdoor tiles and commercial tiles, NITCO caters to all your needs. With 50+ retail outlets all over India, we offer an unmatched sales experience as our foundation lies in product quality and impeccable customer service. Since our inception in 1953, we have remained rooted in our core values of Innovation, Product Quality and Customer First, making us one of the best tile companies in India. With our exhaustive collection of wall tiles, floor tiles & marble, we have expanded our customer base overseas and have a sizable clientele in various other countries.

Disclaimer

This press release contains certain forward-looking statements including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Performance may differ substantially from the expected future results or performance expressed or implied in the forward-looking

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statements. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This “Press Release” does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company’s shares.