NIBE hits the floor after reporting dismal Q2 numbers

Revenue from operations fell 46.04% year-on-year (YoY) to Rs 73.37 crore in the quarter ended 30 September 2025.

The company reported pre-tax loss of Rs 13.15 crore in Q2 FY26 as compared to profit before tax of Rs 12.08 crore reported in the same quarter last year.

Total expenses fell 30.28% YoY to Rs 87.03 crore during the quarter. The cost of materials consumed stood at Rs 9.36 crore (down 34.86% YoY), while employee benefit expenses rose 59.53% YoY to Rs 7.53 crore during the period under review.

On a half-yearly basis, the company reported a consolidated net loss of Rs 6.55 crore in H1 FY26, compared with a net profit of Rs 17.03 crore in H1 FY25. Revenue from operations declined 36.65% YoY to Rs 155.87 crore in H1 FY26.

Meanwhile, the company's board has informed that Rajesh Khatri, chief financial officer (CFO) of the company, has resigned with effect from 12 November 2025, due to personal reasons.

Further, the board has approved the appointment of Jigar Shah as the new chief financial officer (CFO) of the company, with effect from 12 November 2025.

Additionally, the board has approved the acquisition of a 48.95% shareholding in Nibe Meson Naval, currently held by Quest Flow Controls (formerly Meson Valves India).

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.

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