Nikita Greentech Announces Board Approvals for Financial Results, Key Appointments, and Fund Utilization
Mumbai, May 25, 2026 - Nikita Greentech Recycling Limited, formerly known as Nikita Papers Limited, announced several corporate governance updates and approved its audited financial results for the half year and the full financial year ended March 31, 2026. The Board of Directors convened its meeting on May 25, 2026, to review the company's performance and finalize appointments for critical roles.The company released comprehensive financial statements, including the balance sheet, profit and loss account, and cash flow statement, for the periods ended March 31, 2026, and for the year ending March 31, 2025.
Financial Performance Highlights
The Board considered and approved the audited standalone financial results for the period ending March 31, 2026.The Balance Sheet details for March 31, 2026, showed total equity and liabilities of 48,985.02 (in Rs. Lakhs). Total assets for the same period were reported at 48,985.02.
The Company’s financial performance across the years shows significant movements:
| Statement | Metric | For the Year Ended March 31, 2026 | For the Year Ended March 31, 2025 |
|---|---|---|---|
| Profit & Loss | Total Income | 1,795,415 | 3,791,862 |
| Total Expenses | 1,727,795 | 3,465,392 | |
| Profit Before Tax | 676.20 | 326.47 | |
| Cash Flow Statement | Net Cash flow from Operating activities | 1,904.42 | (1,994.91) |
| Net Cash flow from Investing activities | (7,777.95) | (237.60) | |
| Net Cash flow from Financing activities | 5,991.32 | 1,683.38 | |
| Net Cash flow Generated | 117.78 | (549.14) |
The Cash Flow Statement further illustrated the Company's cash generation activities for the respective periods.
Corporate Governance and Appointments
The Board approved several key corporate governance updates, including changes to the audit and director structure.Auditor Appointments
- Internal Auditor: The Board approved the appointment of M/s. VMT & Co. LLP, Chartered Accountants (Firm Registration No. N500048), as the Internal Auditor for the financial year 2026-27.
- Secretarial Auditor: M/s. MMA & Partners, Company Secretaries (FRN.: P2015UP081000), were approved for re-appointment as the Secretarial Auditor for the financial years 2026-27 and 2028-29.
Director Appointments
The Board approved the re-appointment of two key directors:1. Mrs. Sandhya Bansal: She was re-approved for re-appointment as Executive Director for a five-year term, effective from November 30, 2026, to November 29, 2031. She also received approval for re-appointment as a Director liable to retire by rotation.
2. Mr. Ayush Bansal: He was re-approved for re-appointment as Whole-Time Director for five years, effective from April 1, 2026, to March 31, 2031.
Internal Auditor Resignation
The Board noted the resignation of M/s. Arora Vikas & Associates, Chartered Accountants, from the position of Internal Auditor, effective from the close of business hours on May 08, 2026.Utilization of Issue Proceeds
Mittal Goel & Associates, Chartered Accountants, issued a Utilization Certificate confirming how the company's issue proceeds were utilized for the second half-year ended March 31, 2026.The total issue proceeds of 6,754.18 Lakh were fully utilized by the Company for the stated purposes.
| Object of Utilization | Amount Disclosed (In Rs. Lakh) | Actual Utilised Amount (In Rs. Lakh) | Un-utilised Amount (In Rs. Lakh) |
|---|---|---|---|
| Capital expenditure for Power Plant | 5,000 | 5,000.00 | 0 |
| Working Capital requirements | 500 | 500.00 | 0 |
| General Corporate Purposes | 815.23 | 815.23 | 0.00 |
| Issue Expenses | 438.95 | 438.95 | 0.00 |
| Total | 6,754.18 | 6,754.18 | 0 |
The auditors certified that the utilization was entirely in accordance with the objects specified in the Offer Document, with no deviation or variation in the use of funds.
NIKITA Stock Price Movement
On Monday, NIKITA GREENTECH RECYCLING LIMITED shares edged higher, finishing at ₹73, representing a 0.76% gain. The equity saw considerable activity, trading on a volume of 42,000 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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