Nitco Ltd. — Interim / Quarterly Report 2026

Feb 12, 2026

NITCO/SE/2025-26/53 February 12, 2026

To,

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

Dear Sir/Madam,

Sub: Outcome of the Board Meeting of NITCO Limited ("the Company") held today i.e. Thursday, February 12, 2026

We hereby inform that the Board of Directors of the Company at their meeting held today, i.e. Thursday, February 12, 2026 inter-alia transacted the following businesses:

1. Pursuant to Regulation 30 and 33 of the Securities and Exchange Board of India ("SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations"), considered and approved the Unaudited (Standalone and Consolidated) Financial Results for the quarter and nine months ended December 31, 2025 (Q3). A copy of Unaudited (Standalone and Consolidated) Financial Results, notes thereto along with the Limited Review Report thereon issued by M/s. M. M. Nissim & Co LLP, Chartered Accountants, the Statutory Auditors of the Company for the quarter and nine months ended December 31, 2025 (Q3), are attached herewith.

The aforesaid results were reviewed by the Audit Committee and subsequently, approved and taken on record by the Board of Directors of the Company at their respective meetings held today i.e. Thursday, February 12, 2026.

1. Based on the recommendations of Nomination and Remuneration Committee, the Board has approved re-appointment of Mr. Vivek Prannath Talwar (DIN: 00043180) as a Managing director & designated him as "Executive Chairman" (Key Managerial Personnel) for a period of 3 years with effect from April 01, 2026, subject to the approval of shareholders and any statutory authority, if required.

Mr. Vivek Prannath Talwar, Chairman & Managing Director being re-appointed is not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India (SEBI) or any other such authority.

Disclosure of information pursuant to Regulation 30 of Listing Regulations read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, for above listed matters is enclosed as Annexure –A.

1. Based on the recommendations of Audit Committee, the Board has approved subject to shareholders approval of the Company giving loan(s) in one or more tranches including loan represented by way of book debt (the "Loan") to, and/or giving of guarantee(s), and/or providing of security(ies) in connection with any Loan taken/to be taken by any

entity which is a Subsidiary or Associate or Joint Venture or group entity of the Company or any other person in which any of the Directors of the Company is deemed to be interested as specified in the explanation to sub-section 2 of section 185 of the Act (collectively referred to as the "Entities"), upto an aggregate amount not exceeding Rs. 100 Crores (Rupees Hundred Crores Only).

• 1. The Board has approved the Notice of Postal ballot for seeking approval of the Members of the Company by way of special resolution on the following matters:
• a. Re-appointment of Mr. Vivek Prannath Talwar (DIN: 00043180) a Managing director & designated him as "Executive Chairman" (Key Managerial Personnel) of the Company for a period of 3 years w.e.f. April 01, 2026.
• b. Approval of grant of advance, any loan/give guarantee/provide security in connection with loan availed by any person in whom any of the Director of the Company is interested under section 185 of the Companies Act, 2013.

The Postal Ballot process will be conducted through remote e‐voting facility provided by National Securities Depository Limited ("NSDL"). The Cut-off date for the purpose of reckoning the Members for sending out the Postal Ballot Notice electronically and for the purpose of e-voting shall be, Friday, February 13, 2026.

• 1. Further, the Board of Directors of the Company have considered and adopted the following Policies:
• a. The Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information.
• b. Policy for determining Material Subsidiary.
• c. The Whistle Blower Policy.
• d. The Policy of Materiality of Related Party Transactions and on Dealing with Related Party Transactions.

The above mentioned Policies are uploaded on the website of the Company.

The Meeting of Board of Directors of the Company commenced at 2:00 P.M. (IST) and concluded at 04:05 P.M. (IST).

Kindly take the above information on your records.

Thanking You,

Yours faithfully,

For NITCO Limited Rupali Kambli Company Secretary & Compliance Officer Membership No.: A38783 RUPALI SWAMI KAMBLI Digitally signed by RUPALI SWAMI KAMBLI Date: 2026.02.12 18:21:00 +05'30'

Encl.: As above

Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Re-appointment of Mr. Vivek Prannath Talwar (DIN: 00043180) – Chairman & Managing Director

Sr. no.	Particulars	Disclosures
1	Reason for change viz., appointment, re appointment, resignation, removal, death or otherwise;	Re-appointment of Mr. Vivek Prannath Talwar (DIN: 00043180) as Managing Director & designate him as "Executive Chairman" (Key Managerial Personnel) of the Company.
2	Date of appointment/cessation (as applicable) & terms of appointment	Re-appointed for a period of 3 years with effect from April 01, 2026
3	Brief profile (in case of appointment)	Mr. Vivek Talwar has a rich experience of over 44 years in the tile industry. He was instrumental in diversifying the business of the Company by entering into new activities such as dealing in imported marble, vitrified tiles and real estate. His foresight and strategic skills have enabled NITCO to become a leading brand in the interior design industry. His ability to gauge future trends and consumer requirements saw the successful launches of a variety of innovative products. His quest for providing the best quality products, innovative designs and finishes, has made NITCO, the design leader in the industry. Under his guidance, NITCO has set up world class state-of the- art tile and marble processing plant, in Silvassa.
4	Disclosure of relationships between directors (in case of appointment of a Director).	Mr. Vivek Talwar is a brother of Ms. Poonam Talwar, Non- Executive Director of the Company.

RUPALI	Digitally signed by RUPALI SWAMI
SWAMI	KAMBLI
KAMBLI	Date: 2026.02.12 18:21:27 + 05'30'

Independent Auditors' Limited Review Report on the Unaudited Standalone Financial Results of the Company for the Quarter and Nine months ended on 31st December 2025 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Review Report to The Board of Directors of Nitco Limited

• I. We have reviewed the accompanying unaudited Standalone financial results ("the Statement") of Nitco Limited ("the Company") for the quarter and nine months ended 3P 1 December, 2025 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.
• 1. This Statement which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the IND AS 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial results based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial results are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Emphasis of Matters

• 1. We draw attention to certain other matters and its consequential impact, if any, on the results including their presentation/ disclosure:
• i. Refer Note 3 to the financial results, which describes the Joint Development Agreement ("JDA") entered into by the Company for the Plotted development of land situated at Alibaug, where consideration is variable and linked to entering into the Joint Development Agreement and sale of Plots. Pursuant to the JDA, the company had recognized income of Rs. 5,842.00 lakhs in June quarter, representing an interest free adjustable advance towards signing of the Joint Development

Agreement. No further development has been made in this regard during the current quarter.

• ii. Refer Note 4 to the financial results, which describe the Board of the Company, on 13th August 2024 and after Nomination & Remuneration Committee approval, granted 9,88,000 stock options to employees at an exercise price of Rs. 25 per option (convertible into an equal number of equity shares). The options vest 50% after one year and the remaining 50% after two years from the grant date. Necessary lender approvals were obtained dw-ing the earlier quarter. Based on a valuation report from a registered valuer, the fair value of each option was determined at Rs. 113.76. Accordingly, an ESOP expense of Rs. 779.07 lakhs have been recognised for the vesting period from August 2024 to December 2025.
• m. Refer Note 5 to the financial results, which describes during the previous financial year; the Company had approved the disposal of its Alibaug factory PPE during the previous year. Based on an initial offer, an impairment provision of Rs. 16,267.01 lakhs were recognised to reflect the PPE' s fair value. During the previous quarter, a fresh scrap-sale offer of Rs. 3,250.00 lakhs led to a further impairment reversal of Rs. 1,650.00 lakhs, which has been credited to depreciation in the previous quarter. A binding contract has been entered with the buyer for disposal within six months, and the assets have been reclassified as Non-current Assets Held for Sale under Ind AS 105.
• iv. Refer Note 6 to the financial results, which describes during the period under review, the company has assessed the financial implications of the changes to the employee benefit plans arising from legislative amendments referred to as the "New Labour Code". Basis that and the relevant requirements under the Indian Accounting Standard, the company has estimated one-time increase in gratuity and leave liability arising out of past service cost amounting to Rs. 400.13 Lakhs and has been disclosed as an "Exceptional Item".
• v. Refer Note 8 to the financial results, Additional Director General Foreign Trade (ADGFT) had levied penalty of Rs. 17,000.00 lakhs which is confirmed by the Appellate bench of DGFT, New Delhi. No provision for the demand is made in the books. Management has received legal opinion that the order is bad in law.
• vi. Refer Note 9 to the financial results, Management has not made provision for impairment of Rs. 855.22 lakhs w.r.t. capital advance given to Saumya Buildcon Pvt Ltd.
• vii. Refer Note 10 to the financial results, which describes, during the previous quarter, the Company had allotted 3,38,150 equity shares and during the current quarter the Company has allotted 56,000 equity shares of face value of Rs. 10 each towards the exercise of vested employee stock options under the NITCO - Employee Stock Option Plan - 2019 to eligible grantees.

viii. The balance with respect to certain bank balances, other current assets and liabilities are subject to confirmation and the balances are currently reported in the results as per the books of accounts.

Our opinion is not modified in respect of these matters.

For MM Nissim & Co LLP Chartered Accountants (Reg. No. 107122W/W100672)

Ankur Shah Partner Mem. No. 114771 Mumbai, 12th February, 2026. UDIN: 2 G ii 4 7 7-1 4 V k UDE 2 2 4 ^~

:::::::= =====-~--c--------- ------

Regd. Office: Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai - 400 018. Tel. $: 912269879900$ $: 35113710/23/25/28$ LLPIN : $AAT - 7548$ Website : www.mmnissim.com

Independent Auditors' Limited Review Report on the Unaudited Consolidated Financial Results of the Company for the Quarter and Nine months ended on 31^st December 2025 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Review Report to The Board of Directors of Nitco Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Nitco Limited (the 'Holding Company') and its subsidiaries (including Limited Liability Partnership ("LLP") (Holding Company, its Subsidiaries together referred to as the 'Group') for the quarter and nine months ended on 31^st December 2025 ("Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation') as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the IND AS 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the financial results based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial results are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all Significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing regulations, to the extent applicable.

1. The Statement includes the results of the following:

A. Subsidiaries:

• i. Nitco Realities Private Limited
• ii. Rejoice Realty Private Limited
• iii. Norita Investments Private Limited
• iv. Reliant Properties and Realty LLP- Limited Liability Partnership

B. Step Down Subsidiaries:

• i. Maxwealth Properties Private Limited
• ii. Meghdoot Properties Private Limited
• iii. Roaring Lion Properties Private Limited
• iv. Feel Better Housing Private Limited
• v. Quick Solutions Properties Private Limited
• vi. Silver Sky Real Estates Private Limited
• vii. Opera Properties Private Limited
• viii. Ferocity Properties Private Limited
• ix. Glamorous Properties Private Limited
• x. Nitco IT Parks Private Limited
• xi. Nitco Aviation Private Limited
• xii. Aileen Properties Private Limited
• xiii. Ouick Innovation Lab Private Limited
• xiv. Recondo Limited

Emphasis of Matters

• 1. We draw attention to certain other matters and its consequential impact, if any, on the results including their presentation / disclosure:
• Refer Note 3 to the financial results, which describes the Joint Development i. Agreement ("JDA") entered into by the Company for the Plotted development of land situated at Alibaug, where consideration is variable and linked to entering into the Joint Development Agreement and sale of Plots. Pursuant to the JDA, the company had recognized income of Rs. 5,842.00 lakhs in June quarter, representing an interest free adjustable advance towards signing of the Joint Development Agreement. No further development has been made in this regard during the current quarter.
• Refer Note 4 to the financial results, which describe the Board of the Company, on 13^th ii. August 2024 and after Nomination & Remuneration Committee approval, granted 9,88,000 stock options to employees at an exercise price of Rs. 25 per option (convertible into an equal number of equity shares). The options vest 50% after one year and the remaining 50% after two years from the grant date. Necessary lender approvals were obtained during the earlier quarter. Based on a valuation report from a registered valuer, the fair value of each option was determined at Rs. 113.76.

Accordingly, an ESOP expense of Rs. 779.07 lakhs have been recognised for the vesting period from August 2024 to December 2025.

• Refer Note 5 to the financial results, which describes during the previous financial year; iii. the Company had approved the disposal of its Alibaug factory PPE during the previous year. Based on an initial offer, an impairment provision of Rs. 16,267.01 lakhs were recognised to reflect the PPE's fair value. During the previous quarter, a fresh scrap-sale offer of Rs. 3,250.00 lakhs led to a further impairment reversal of Rs. 1,650.00 lakhs, which has been credited to depreciation in the previous quarter. A binding contract has been entered with the buyer for disposal within six months, and the assets have been reclassified as Non-current Assets Held for Sale under Ind AS 105.
• Refer Note 6 to the financial results, which describes during the period under review, iv. the company has assessed the financial implications of the changes to the employee benefit plans arising from legislative amendments referred to as the "New Labour Code". Basis that and the relevant requirements under the Indian Accounting Standard, the company has estimated one-time increase in gratuity and leave liability arising out of past service cost amounting to Rs. 400.13 Lakhs and has been disclosed as an "Exceptional Item".
• Refer Note 8 to the financial results, Additional Director General Foreign Trade V. (ADGFT) had levied penalty of Rs. 17,000.00 lakhs which is confirmed by the Appellate bench of DGFT, New Delhi. No provision for the demand is made in the books. Management has received legal opinion that the order is bad in law.
• vi. Refer Note 9 to the financial results, Management has not made provision for impairment of Rs. 855.22 lakhs w.r.t. capital advance given to Saumya Buildcon Pvt Ltd.
• Refer Note 10 to the financial results, which describes, during the previous quarter, the vii. Company had allotted 3,38,150 equity shares and during the current quarter the Company has allotted 56,000 equity shares of face value of Rs. 10 each towards the exercise of vested employee stock options under the NITCO - Employee Stock Option Plan - 2019 to eligible grantees.
• The balance with respect to certain bank balances, other current assets and liabilities viii. are subject to confirmation and the balances are currently reported in the results as per the books of accounts.

Our opinion is not modified in respect of these matters.

Other Matters

The Statement includes the unaudited interim financial results and other financial information of three subsidiaries, fourteen step-down subsidiaries, and one limited liability partnership, whose financial data reflects total revenue of Rs. 57.86 Lakhs and Rs. 170.95 Lakhs, total net profit after tax of Rs. 134.79 Lakhs and total net loss after tax of Rs. 414.34 Lakhs, and total comprehensive income of Rs. 128.60 Lakhs and total comprehensive loss of Rs. 394.69 Lakhs for the quarter and nine months ended December 31, 2025, respectively.

These interim results of components have not been reviewed by their respective auditors and are incorporated based solely on the financial information approved and furnished to us by the Management; accordingly, our conclusion on the Statement, in so far as it relates to the affairs of these entities, is derived exclusively from such unaudited information. According to the information and explanations provided by the Management, these interim financial results are not material to the Group.

Our opinion is not modified in respect of this matter.

For M M Nissim & Co LLP Chartered Accountants (Reg. No. 107122W/W100672)

Ankur Shah

Partner Mem. No. 114771 Mumbai, 12th February, 2026.
UDIN: 26114771ULG XWM8888

TILES MARBLE MOSAICO

NITCO LIMITED

Registered Office: 3/A, Recondo Compound, Sudam Kalu Ahire Marg, Glaxo, Worli Colony, Mumbai, Maharashtra, India, 400 030. Tel No.: 91-22-25772800, Fax: 022 25786484, Email: investorgrievances@nitco.in, Website: www.nitco.in, CIN: L26920MH1966PLC016547

STATEMENT OF STANDALONE & CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED DECEMBER 31, 2025

											(Rs. in Lakhs, except earnings per share)
			STANDALONE						CONSOLIDATED
		Three Month Ended			Nine Month Ended	Year ended		Three Month Ended		Nine Month Ended		Year ended
Particulars	31.12.2025	30.09.2025	31.12.2024	31.12.2025	31.12.2024	31.03.2025	31.12.2025	30.09.2025	31.12.2024	31.12.2025	31.12.2024	31.03.2025
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Revenue from Operations
Sale of Products
i) Tiles and other related products	12,971.73	10,617.96	8,367.34	32,660.13	21,807.79	31,066.04	13,029.56	10,677.91	8,424.76	32,831.01	21,973.75	31,292.27
ii) Real estate (Refer note no 3)				5,842.00						5,842.00
Other operational revenue	146.03	92.13	37.64	294,40	76.17	(110.77)	146.06	92.16	37.64	294.47	112.08	147.06
Total Revenue from Operations	13,117.76	10,710.09	8,404.98	38,796.53	21,883.96	30,955.27	13,175.62	10,770.07	8,462.40	38,967.48	22,085.83	31,439.33
Other Income	174.66	231.79	54.73	691.72	316.79	1,297.33	260.09	349.61	54.89	956.90	317.26	1,335.08
Total Income	13,292.42	10,941.88	8,459.71	39,488.25	22,200.75	32,252.60	13,435.71	11,119.68	8,517.29	39,924.38	22,403.09	32,774.41
Expenses
Cost of materials consumed	2,431.42	2,001.72	1,061.74	5,622,34	2,504.06	3,779.86	2,484.01	2,053.51	1,109.87	5,773.69	2,857,14	4,183.86
Purchase of Stock in trade	7,107.76	6,101.49	5,361.25	19,371.22	13,736.72	19,719.18	7,107.76	6,101.49	5,361.25	19,371.22	13,736.72	19,719.18
Changes in inventories of finished goods, Stock in trade and	(207.51)	(327.98)	(318.69)	(1, 176.66)	521.16	49.96	(207.51)	(327.98)	(318.69)	(1, 176.66)	521.16	49.96
work-in-progress
Employee benefits expense (Refer note no 4)	1,894.24	2,201.09	1,390.60	5,549.45	3.962.15	5.379.69	1.894.24	2.201.09	1,390.60	5.549.45	3,962.15	5,379.69
Depreciation and amortization expense (including Impairment)
(Refer note no 5)	150.77	(1,408.66)	16,987.86	(1,002.66)	18,423.99	18,722.83	206.47	(1, 352.96)	16,987.86	(835.55)	18,423.99	18,778.53
Finance cost (net)	106.25	96.38	1,056.48	314.79	6,398.16	6,628.98	248.06	238.21	1,267.02	739.07	6,680.32	7,018.63
Other expenses	2,470.83	2,079.33	1,478.95	6,351.95	3.897.04	5,630.60	2,498.79	2,112.22	1,421.73	6,459.69	3,867.27	5,580.06
Total Expenses	13,953.76	10,743.37	27,018.19	35,030.43	49,443.28	59,911.10	14,231.82	11,025.58	27,219.64	35,880.91	50,048.75	60,709.91
Profit/(Loss) before tax	(661.34)	198.51	(18, 558.48)	4,457.82	(27, 242.53)	(27, 658.50)	(796.11)	94.10	(18, 702.35)	4,043.47	(27, 645.66)	(27, 935.50)
Exceptional items-gain/(loss) (Refer note no 6)	(400.13)		(47,314.92)	(400.13)	(46, 184.53)	(46, 184.53)	(400.13)		(47, 314.92)	(400.13)	(46, 184.53)	(46, 184.53)
Profit/(Loss) before tax and after exceptional items	(1,061.47)	198.51	(65, 873.40)	4,057.69	(73, 427.06)	(73, 843.03)	(1, 196.24)	94.10	(66, 017.27)	3,643.34	(73,830.19)	(74, 120.03)
Tax expenses
Current Tax (Refer note no 14)								$\sim$				(0.63)
Profit/(Loss) after tax for the period	(1,061.47)	198.51	(65, 873.40)	4,057.69	(73, 427.06)	(73, 843.03)	(1, 196.24)	94.10	(66, 017.27)	3,643.34	(73,830.19)	(74, 120.66)
Profit/(Loss) attributable to Non-Controlling Interest							(6.19)	(6.29)	0.40	(19.66)	(0.34)	(5.41)
Profit/(Loss) attributable to the Owners of the Parent							(1, 190.05)	100.39	(66, 017.67)	3,663,00	(73, 829.85)	(74, 115.25)
Other Comprehensive Income (OCI)
(i) Items that will not be reclassified to profit or loss	25.58	(55.56)	4.12	(12.71)	0.94	(9.97)	25.58	(55.56)	4.12	(12.71)	0.94	(9.97)
(ii) Tax relating to items that will not be reclassified to profit or
loss
Other Comprehensive Income (OCI)	25.58	(55.56)	4.12	(12.71)	0.94	(9.97)	25.58	(55.56)	4.12	(12.71)	0.94	(9.97)
OCI attributable to Non-Controlling Interest
OCI attributable to the Owners of the Parent	25.58	(55.56)	4.12	(12.71)	0.94	(9.97)	25.58	(55.56)	4.12	(12.71)	0.94	(9.97)

Registered Office: 3/A, Recondo Compound, Sudam Kalu Ahire Marg, Glaxo, Worli Colony, Mumbai. Maharashtra. India. 400 030. Tel No.: 91-22-25772800, Fax: 022 25786484, Email: investorgrievances@nitco.in, Website: www.nitco.in, CIN: L26920MH1966PLC016547

STATEMENT OF STANDALONE & CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED DECEMBER 31, 2025

											(Rs. in Lakhs, except earnings per share)
	STANDALONE						CONSOLIDATED
		Three Month Ended	Year ended Nine Month Ended				Three Month Ended		Nine Month Ended	Year ended
Particulars	31.12.2025	30.09.2025	31.12.2024	31.12.2025	31.12.2024	31.03.2025	31.12.2025	30.09.2025	31.12.2024	31.12.2025	31.12.2024	31.03.2025
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Total Comprehensive Income	(1,035.89)	142.95	(65, 869.28)	4,044.98	(73, 426.12)	(73, 853.00)	(1, 170.66)	38.54	(66, 013.15)	3,630.63	(73, 829.25)	(74, 130.63)
Non-Controlling Interest							(6.19)	(6.29)	0.40	(19.66)	(0.34)	(5.41)
Total Comprehensive Income for the period attributable to the	(1,035.89)	142.95	(65, 869.28)	4,044.98	(73, 426.12)	(73,853.00)	(1, 164.47)	44.83	(66, 013.55)	3,650.29	(73,828.91)	(74, 125.22)
Owners of the Parent
Paid-up equity share capital (Face Value Rs. 10 per share)	22,911.61	22,906.01	7,185.90	22,911.61	7,185.90	22,872.20	22,911.61	22,906.01	7,185.90	22,911.61	7,185.90	22,872.20
Reserves excluding revaluation reserves as per balance sheet						3,279.00						1,790.12
Earnings per share (Face Value of Rs.10/- each) (not
annualized):
Basic - After Exceptional Item	(0.46)	0.09	(91.67)	1.77	(102.18)	(74.09)	(0.52)	0.04	(91.87)	1.59	(102.74)	(74.59)
Basic - Before Exceptional Item	(0.29)	0.09	(25.83)	1.95	(37.91)	(27.61)	(0.34)	0.04	(26.03)	1.77	(38.47)	(28.11)
Diluted - After Exceptional Item	(0.46)	0.08	(91.67)	1.60	(102.18)	(74.09)	(0.52)	0.04	(91.87)	1.44	(102.74)	(74.59)
Diluted - Before Exceptional Item	(0.29)	0.08	(25.83)	1.76	(37.91)	(27.61)	(0.34)	0.04	(26.03)	1.60	(38.47)	(28.11)

Place: MUMBAI Date: 12-February-2026

ALIMBAI

Vivek Talwar Chairman & Managing Director (DIN: 00043180)

LES

MARBLE

MOSAICO

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		SEGMENTWISE REVENUE RESULTS FOR THE QUARTER ANO NINE MONTH ENDED DECEMBER 31, 2025
												(Rs in Lakhs)
			STANDALONE						CONSOLIDATED
		Three Month Ended			Nine Month Ended	Year ended		Three Month Ended
Particulars	31.12.2025 (Unaudited)	30.09.2025 (Unaudited)	31.12.2024 (Unaudited)		31.12.2025 31.12.2024 (Unaudited) (Unaudited)	31.03.2025 (Audited)	31.12.2025 (Unaudited)	30.09.2025 (Unaudited)	31.12.2024 (Unaudited)	31.12.2025 (Unaudited)	31.12.2024 (Unaudited)	31 .03.2025 (Audited)
Net Sales/ Income from Operations
- Tiles and other related products	13,117.68	10,710.09	8,404.90	32,954.37	21,883.54	31,165.69	13,117.68	10,710.09	8,404.90	32,954.37	21,883.54	31,165.69
- Real estate	0.08		0.08	5,842.16	0.42	11.50	57.94	59.98	57.50	6,013.11	202.29	273.64
Total Revenue	13,117.76	10,710.09	8,404.98	38,796.53	21,883.96	31,177.19	13,175.62	10,770.07	8,462.40	38,967.48	22,085.83	31,439.33
Segment results
-Tiles and other related products	(484.57)	324.84	(17,396.36)		(976.34) (20,614.04)	(21,409.24)	(484.57)	324.84	(17,396.36)	(976.34)	(20,823.69)	(21,618.89)
- Real estate	(245.18)	(261.74)	(160.37)	5,057.23	(547.12)	(695.69)	(323.58)	(342.14)	(93.86)	4,802.00	(458.91)	(633.06)
Total Segment Profit/ (loss) Before Finance Cost an d Oth er Income	(729.75)	63.10	(17,556.73)	4,080.89	(21,161.16)	(22,104.93)	(808.15)	(17.30)	(17,490.22)	3,825.66	(21,282.60)	(22,251.95)
Interest and other financial cost	106.25	96.38	1,056.48	314.79	6,398.16	6,628.98	248.06	238.21	1,267.02	739.07	6,680.32	7,018.63
Other Income	174.66	231.79	54.73	69i.72	316.79	1,297.33	260.09	349.61	54.89	956.90	317.26	1,335.08
Profit/ (Loss) before exceptional items & tax	(661.34)	198.51	(18,558.48)	4,457.82	(27,242.53)	(27,436.58)	(796.11)	94.10	(18,702.35)	4,043.49	(27,645.66)	(27,935.50)
Exceptional items-gain/{loss)	(400.13)		(47,314.92)		(400.13) (46,184.53)	(46,184.53)	(400.13)		(47,314.92)	(400.13)	(46,184.53)	(46,184.53)
Profit/ (loss) before tax and after exceptional item	(1,061.47)	198.51	(65,873.40)	4,057.69	(73,427.06)	(73,621.11)	(1,196.24)	94.10	(66,017.27)	3,643.36	(73,830.19)	(74,120.03)
Capital Employed
- Tiles and other related products	28,067.74	27,373.16	53,054.10	28,067.74	53,054.10	19,027.58	28,067.74	27,373.16	53,054.07	28,067.74	53,054.07	19,027.58
- Real estate	25,084.65	24,628.74	15,497.57	25,084.65	15,497.57	19,865.66	22,507.40	(66,858.56)	14,191.04	22,507.40	14,191.04	19,426.05
- Unallocated/ Corporate	(22,063.20)	(20,040.63)		(42,093.69) (22,063.20) (42,093.69)		(12,742.04)	(21,394.69)	(19,517.03)	(42,093.69)	(21,394.69)	(42,093.69)	(13,796.79)
Net Capital Employed (A·B)	31,089.19	31,961.27	26,457.98	31,089.19	26,457.98	26,151.20	29,180.45	(59,002.43)	25,151.42	29,180.45	25,151.42	24,656.84
Segmental Assets
- Tiles and other related products	43,635.61	41,089.90	72,496.81	43,635.61	72,496.81	35,123.47	43,635.61	41,089.90	72,496.76	43,635.61	72,496.76	35,123.47
- Real estate	39,684.77	39,374.59	30,134.08	39,684.77	30,134.08	34,574.61	48,259.71	(40,995.80)	34,175.03	48,259.71	34,175.03	43,733.57
- Unallocated/ Corporate	2,985.05	4,520.94	594.47	2,985.05	594.47	8,588.19	8,023.10	9,367.06	594.47	8,023.10	594.47	13,254.02
Total Segmental Assets (A)	86,305.43	84,985.43	1,03,225.36		86,305.43 1,03,225.36	78,286.27	99,918.42	9,461.16	1,07,266.26	99,918.42	1,07,266.26	92,111.06
Segment Liabilities
- Tiles and other related products	15,567.87	13,716.74	19,442.71	15,567.87	19,442.71	16,095.89	15,567.87	13,716.74	19,442.69	15,567.87	19,442.69	16,095.89
- Real Estate	14,600.12	14,745.85	14,636.51	14,600.12	14,636.51	14,708.95	25,752.31	25,862.76	19,983.99	25,752.31	19,983.99	24,307.52
- Unallocated/ Corporate	25,048.25	24,561.57	42,688.16	25,048.25	42,688.16	21,330.23	29,417.79	28,884.09	42,688.16	29,417.79	42,688.16	27,050.81

55,216.24 53,024.16 76,767.38 55,216.24 76,767.38 52,135.07 70,737.97 68,463.59

Place : MUMBAI

Date : 12-February-2026

82,114.84 70,737.97 82,114.84 67,454.22

Total Sei?ment Liabilities (B)

• 1. The above financial results of Nitco Limited ("Company/ Parent Company") were reviewed by the Audit Committee and the Board of Directors and taken on record at their Meeting held on 12th February 2026. The same have also been subjected to Limited review by the Statutory Auditbrs.
• 1. The above results have been prepared in accordance with the principles and procedures of the Indian Accounting Standards ('Ind AS') as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified under section 133 of the C_ompanies Act, 2013 and other accounting principles generally accepted in India.
• 1. During the previous financial year, the Board of Directors had approved the proposed plotted development of the Alibaug Land in collaboration with a buyer (the 'Developer'), on such terms and conditions as may be mutually agreed between the parties, following which the said property was classified from non-current assets to inventory. In earlier quarter, the Parent Company had entered into a Joint Development Agreement ('JDA') with the Developer for the plotted development of the land, under which the consideration is variable and linked to entering of joint development agreements and the sale of plots. Pursuant to the JDA, the Parent Company had recognised income of Rs. 5,842.00 Lakhs, representing an Interest Free Adjustable Advance ('IFAA') towards signing of the joint development agreement. As on 31st December 2025 the company has received IFAA of Rs . 1,778.00 Lakhs and the company expects the balance to be received within this financial year.
• 1. The Board of Directors of the Parent Company in their meeting held on 13th August, 2024, after obtaining the approval of the Nomination & Remuneration Committee, approved the grant of 9,88,000 Stock options to its employees at an exercise price of Rs 25 per option which are convertible into equal number of equity shares of the Parent Company. 50% of Options will vest at the end of 1 year from the date of grant and balance 50% at the end of 2 years from the date of grant. The said options had been granted by the Board of Directors of the Parent Company subject to requisite approvals from the lenders which has been received during the previous quarter.

The Parent Company has obtained a fair valuation report for its Employee Stock Option Plan (ESOP) from a registered valuer in accordance with applicable provisions of the Companies Act, 2013 and the relevant accounting standards. Based on such valuation report, the fair value of the stock options granted has been determined at Rs 113.76 (using Black Scholes method) and the Parent Company has accordingly recognised a cost of Rs . 779.06 lakhs towards ESOP cost for the vesting period from August 2024 to December 2025.

1. In the previous financial year, the company had proposed to dispose of the entire Property, Plant and Equipment (PPE) of the Alibaug factory after obtaining approval from the Directors for plotted development of the factory site. The compt had initially estimated a realizable . value of Rs. 1,600.00 lakhs from the s e of td PP rlmary offer

Registered Office : NITCO Limited, 3/A, Recondo Compound, Sudam Kalu Ahire Tel.: 91-22 -25772800 / 25772790, CIN: L26920MH 1966PLC01 6547. Email : investorgrievances@nitco.inWebsite:www.nitco.in I

received. Accordingly, an impairment provision of Rs. 16,267.01 lakhs was recorded in the books of account to reflect the fair value of PPE.

During the previous quarter the company received a scrap sale offer for the said PPE for Rs. 3,250 lakhs based on which management had revised impairment of the PPE to the extent of Rs. 1,650.00 Lakhs, had reversed the impairment and credited it to depreciation ..

Management had entered into a binding contract with the party and decided to dispose the PPE in six months as per the said contract. Accordingly the asset has been classified from PPE to Non-current asset held for sale.

• 1. The company has assessed the financial implications of the changes to the employee benefit plans arising from legislative amendments referred to as the "new labour code". Basis that and the relevant requirements under the Indian Accounting Standard, the company has estimated one-time increase in gratuity and leave liability arising out of past service cost amounting to Rs. 400.13 Lakhs and has been disclosed as a "Exceptional Item".
• 1. During the previous financial year, the Parent Company raised a total of Rs. 46,323.80 Lakhs through preferential allotment basis. This amount comprises of the following:
• Rs. 40,924.87 lakhs raised through issue of 4,43,63,000 Equity Shares
• Rs . 5,398.93 lakhs being 25% of the total amount ra ised through issue of 2,34,10,000 Fully Convertible Share Warrants.

The balance 75% of 2,34,10,000 Fully Convertible of share warrants totalling to Rs. 16,196.79 lakhs is expected to be raised within 18 months from the date of issue.

As of 31st December 2025, the Parent Company has utilized Rs. 44,170.93 lakhs out of the total ~46,323.80 lakhs raised. The utilization has been in line with the specified limits for each objective. The details of fund utilization are as follows:

Purpose of Utilisation	Amount (Rs in Lakhs)
Repayment of existing debt and redemption of existing non- convertible debentures	20,000.00
Payment of outstanding dues to operational creditors	5,000.00
Working capital requirements	9,041.81
Acquisition of real estate / land and/or corporate entities	8,997.88
holding real estate/ land, in order to propel the growth of the Company and expansion of its business operations
General corporate purpose	1,131.24
Total	44,170.93

Registered Office: NITCO Limited, 3/A, Recondo Compound, Sudam Kalu Ahire Marg, Glaxo, Worli Colony, Mumbai - 400030 Tel.: 91-22 -2S772800 I 25772790, CIN: L26920MH1 966PLC01 6547. Email : investorgrievances@nitco.inWebsite:www.nitco.in

• 1. The Additional Directorate General Foreign Trade (ADGFT) levied penalty of Rs. 17,000 Lakhs for irregular/ non fulfilment of export obligations and the same has been confirmed by the Appellate Bench of DGFT, New Delhi. The Parent Company has filed a Writ Petition in Hon'ble Bombay High Court as the said Order was bad in law & not in accordance to the cardinal Principles of Equity, Law and Good Conscience. No provision has been made in the books of accounts for the same.
• 1. The Parent Company had in past given capital advance of Rs . 855.22 lakhs (net of recovery) to Saumya Buildcon Pvt Ltd (SBPL) for procurement of land for which transaction did not materialize due to condition of real estate market. The Parent Company has received balance confirmation from SBPL as at 30th September, 2025 confirming the balance amount. The management has reviewed the SBPL's financial statements to assess their ability to repay the advance. Based on this review, the management expects advance to be fully recovered in FY 2025-26 and hence no provision has been made in the books of accounts for the same.
• 1. During the previous quarter the Company had allotted 3,38,150 equity shares and during the current quarter the Company has allotted 56,000 equity shares of face value of Rs . 10 each towards the exercise of vested employee stock options under the NITCO - Employee Stock · Option Plan 2019 to eligible grantees.
• 1. The Parent Company had obtained shareholder's approval for sale of the property located at Kanjurmarg, currently held in Inventory (Real Estate), for a monetary consideration of Rs. 23,200 lakhs and non-monetary consideration in the form of office space in the proposed project to be developed by the Buyer. The Parent Company had received an advance of Rs. 14,300 lakhs from the Buyer against this transaction. The Parent Company is in the process of completing the conditions precedents to the transaction which will facilitate execution of the definitive agreement. Pending definitive agreement, the sale has not been recognised in the books of accounts and the advance received from the Buyer has been disclosed as advance from customer.
• 1. During the previous financial year, the Parent Company had obtained approval from the Board of Directors for entering into a deed of assignment of lease hold rights held in the land situated at MIDC, village Panchpakhadi - Thane and had transferred the said property from non-current asset to inventory. The Parent Company had assigned the leasehold rights in favour of a buyer for a monetary consideration of Rs . 11 lakhs and non-monetary consideration of constructed carpet area of 7459.2 sq. meter or 25% of the FSI area whichever is higher in the project proposed to be developed by the buyer. Revenue from the assignment of the lease will be recognised upon satisfaction of the relevant condition, including receipt of regulatory approvals.

Registered Office : NITCO Limited, 3/A, Recondo Compound, Sudam Ka lu Ahire Marg, Glaxo, Worli Colony, Mumbai - 400030 Tel.: 91-22 -25772800 I 25772790, CIN: L26920MH1 966PLC016547. Email : investorgri evances@nitco.in Website: www.nitco.in

• 1. The Balance with respect to certain bank balances, other current assets and liabilities are subject to confirmation and the balances are currently reported in the result as per the books of accounts.
• 1. In view of the Parent Company's accumulated losses, provision for tax is not required in these results.
• 1. The previous quarter/ year figures are regrouped/ restated/ redass;fie:'.,/earrl wherever necessary, to make them comparable.

Place: MUMBAI

Date : 12th February 2026 Ch rman & Managing Director (DIN: 00043180)