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Nidhi Granites Limited announced that Jowela Exim Private Limited has allotted 16,00,000 equity shares of Rs 10 each to Nidhi Granites Limited as part of a rights issue, making Jowela Exim Private Limited a subsidiary of Nidhi Granites Limited, according to a filing with the BSE Limited on October 22, 2026.

Nidhi Granites Limited announced that its board approved subscribing to 16,00,000 equity shares of Rs 10 each in Jowela Exim Private Limited for Rs 1,60,00,000, increasing its stake to 16,16,000 equity shares, representing 50.50% of Jowela’s post-issue paid-up equity share capital, which will make Jowela a subsidiary of Nidhi Granites Limited.

Nidhi Granites Limited informed the BSE Limited that the trading window for dealing in the company`s equity shares will be closed from Thursday, October 1, 2026, and will reopen 48 hours after the announcement of the un-audited financial results for the second quarter and half year ended September 30, 2026.

Nidhi Granites Ltd share price dropped 5% to Rs 302.1 after the company`s net profit surged by 49.48% to Rs 2.9 crore, while revenue from operations slipped slightly by 4.92% to Rs 15.84 crore in Q2FY26 over Q1FY26. The market capitalization of Other Construction Materials industry group stocks on BSE stood at Rs 12369.84 crore, advancing by 12.23%. It has inched up 1.59% over last one week and softened by 4.76% in last one month while the market capitalization of Nidhi Granites Ltd has softened by 0.30% and 9.55% in the same period respectively. Profit before tax (PBT) of Nidhi Granites Ltd stood at Rs 3.85 crore in Q2 FY26, expanding by 26.23% year-on-year, and rallying 31.40% quarter-on-quarter. EBITDA came in at Rs 4 crore, jumping 31.51% YoY and surging by 20.29% sequentially. Total expenses contracted by 11.74% to Rs 12.18 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 3.38 crore, registering a fall of 22.65% YoY, while employee benefits expense was at Rs 1.12 crore, soaring 20.43% YoY. For the TTM ended FY26, revenue from operations jumped by 43.99% to Rs 65.2 crore, while net profit saw a strong growth of 300% to Rs 7.68 crore, compared to previous TTM. EBITDA tanked by 101% to Rs 11.76 crore, and PBT witnessed a strong rise of 324.90% to Rs 10.75 crore compared to previous TTM. The company`s consolidated net cash flow from operating activities stood at Rs 5.8 crore in FY26, as against Rs 1.5 crore in FY25. Nidhi Granites Ltd jumped 18.94% in last one year, significantly outperforming the benchmark BSE Sensex which has slipped by 2.83% during the same period.

Nidhi Granites will hold a meeting of the Board of Directors of the Company on 13 August 2026.