Nibe Ordnance and Maritime Ltd — Updates, 23-05-2025: Company Update

Nibe Ordnance and Maritime Limited has announced a board meeting on which it approved the financial results for the quarter and half-year. The company reported consolidated net profit after tax of ₹114.40 lakh for the year, reversing a loss in the prior year, supported by other income of ₹434.61 lakh. The standalone financials show a profit of ₹11.30 lakh for the year. During the period, the company raised ₹115.98 lakh via a rights issue of 3.31 lakh shares at ₹35 each, with part of the proceeds still unutilized. A new joint venture, Global Premier Limited, was formed. The company adopted a straight-line depreciation method, slightly increasing expenses. Mr. Mukesh Ranga was appointed as Company Secretary and Compliance Officer, and M/s ADV & Associates were re-appointed as Internal Auditors. The statutory auditors issued unmodified opinions on both standalone and consolidated results.