NIBE slipped 3.50% to Rs 1,222.90 after the company's consolidated net profit dropped 75.97% to Rs 1.90 crore in Q1 FY26, compared to Rs 7.91 crore posted in Q1 FY25.
Revenue from operations fell 25.04% to Rs 82.50 crore in Q1 FY26, down from Rs 110.06 crore in the same quarter last year.Profit before tax (PBT) declined 83.63% to Rs 1.79 crore in Q1 FY26, as against Rs 10.94 crore posted in Q1 FY25.
Meanwhile, the company noted the resignation of Ranjan Choudhary, chief executive officer (CEO), effective from 12 August 2025, due to internal reorganization within the group.
Further, the board has approved the appointment of Prakash Khose as the new CEO of the company, effective from 12 August 2025.
NIBE operates in manufacturing critical components for the defence sector, electric vehicles (E-Vehicles), and software development. The company is engaged in fabrication and machining of components used in the defence sector, as well as assembly of components for E-Vehicles.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app