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N2N Technologies Ltd (512279)

📊 BSE: 512279 🏢 Diversified Commercial Services 📢 Latest filing: 25 Sep 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, N2N Technologies' revenue was ₹0.2 Cr (-53.9% year on year, -10.6% on the previous quarter), and net profit ₹-0.1 Cr (a bigger loss than a year earlier); the operating margin was -82.2%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹0.2	-53.9%	-10.6%
Operating profit	₹-0.1	loss widened	loss narrowed
Net profit	₹-0.1	loss widened	loss narrowed
EPS (₹)	-0.39	loss widened	loss narrowed
Operating margin	-82.2%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

N2N Technologies Director Rahul Dilip Shah Resigns Following Open Offer Management Takeover

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 25 Sep 2026, 04:54 PM

N2N Technologies has announced the resignation of Director Mr. Rahul Dilip Shah with effect from September 24, 2026. The resignation follows a change in management and control resulting from an open offer made by Harmony Remedies Private Limited and PACs. Additionally, Mr. Shah stated an inability to devote requisite time due to being based in the United States. N2N Technologies holds a market capitalization of approximately ₹11 Cr.

Director Mr. Rahul Dilip Shah stepped down effective September 24, 2026
Resignation cited change in control following an Open Offer by Harmony Remedies Private Limited and PACs
Director is based in the USA, citing inability to devote necessary time to affairs of the company

💡 Monitor upcoming board reconstitutions and disclosures outlining the incoming management's operational strategy post-open offer.

N2N Technologies Receives ROC Extension to Hold FY26 AGM by December 31, 2026

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 22 Sep 2026, 07:04 PM

N2N Technologies Limited has received approval from the Registrar of Companies (ROC), Pune, extending the timeline to convene its Annual General Meeting (AGM) for FY 2025-2026 up to December 31, 2026. The extension follows a change in control and management stemming from an open offer concluded by Harmony Remedies Private Limited and PACs. With an equity market capitalization of just Rs 11 Cr, investors should monitor corporate governance and strategic shifts under the incoming management.

ROC Pune granted extension to hold AGM for FY 2025-2026 until December 31, 2026
Change in control and management noted following a recently concluded open offer
Acquisition and open offer executed by Harmony Remedies Private Limited along with PACs

💡 Track the revised AGM notice, formal adoption of annual accounts, and upcoming disclosures regarding new board appointments and business plans from Harmony Remedies.

CFO and Director Tushar Shah Resigns Following Change in Management Control

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 13 Aug 2026, 12:11 PM

Mr. Tushar Shah has resigned from his roles as Director and Chief Financial Officer (CFO) of N2N Technologies Ltd, effective August 13, 2026. This resignation is a direct result of the change in management and control following a recently concluded Open Offer. The company is a micro-cap with a market capitalization of ₹11 Cr and is currently loss-making, reporting a net loss of ₹2.78 Cr for FY26 on a total revenue of just ₹1.34 Cr. Investors should monitor the incoming management team's strategy to address the negative operating margins of -210.6%.

Resignation of Mr. Tushar Shah as Director and CFO effective August 13, 2026.
Departure is linked to the change in control of the company pursuant to a recently concluded Open Offer.
Company reported a significant net loss of ₹2.78 Cr in FY26 compared to a net worth of ₹4 Cr.
TTM revenue stands at a minimal ₹1 Cr, highlighting the small scale of current operations.
Operating Profit Margin (OPM) is deeply negative at -210.6% as per latest TTM data.

💡 Investors should wait for the announcement of the new management team and their business plan, as the change in control could lead to a complete shift in the company's operational focus.

CFO and Director Tushar Shah Resigns Following Change in Management Control

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 13 Aug 2026, 12:09 PM

Mr. Tushar Shah has resigned from his roles as Director and Chief Financial Officer (CFO) of N2N Technologies, effective August 13, 2026. This resignation is a direct result of the change in management and control following a recently concluded Open Offer. The company is currently in a weak financial position, reporting a TTM revenue of just Rs 1 Cr and a net loss of Rs 3 Cr. Investors should note that this transition marks a significant shift in leadership for the Rs 11 Cr market-cap company.

Resignation of Mr. Tushar Shah as Director and CFO effective August 13, 2026.
Departure is attributed to the change in control following a recently concluded Open Offer.
Company operates with a very small TTM revenue base of Rs 1 Cr.
Operating profit margin (OPM) stands at a negative 210.6% for the trailing twelve months.
Market capitalization is approximately Rs 11 Cr, indicating a micro-cap status.

💡 Monitor the appointment of the new CFO and any strategic updates from the incoming management to address the company's significant operating losses and negative ROCE of -45.2%.

N2N Technologies to cease IT business effective Aug 13, 2026, following management change

🔵 WATCH ⭐ 9/10

MANAGEMENT 📅 12 Aug 2026, 07:45 PM

N2N Technologies has announced the complete cessation of its IT and Software Consulting business effective August 13, 2026. This move follows a change in management and control after a recently concluded Open Offer by Harmony Remedies Private Limited, Firoze Kapadia, and Aditi Parikh. The company has relieved all employees and consultants from its IT division, which accounted for its entire TTM revenue of Rs 1 Cr. The new management is currently evaluating new business opportunities, effectively turning the company into a shell entity pending a strategic pivot.

Complete cessation of IT and Software Consulting business effective August 13, 2026
All employees and consultants from the IT division have been relieved from service
Change in control triggered by an Open Offer from Harmony Remedies Private Limited and associates
Discontinuation of a business segment that generated Rs 1.34 Cr in FY26 revenue
New business activities are currently under evaluation by the incoming management

💡 Investors should closely monitor future filings for the disclosure of the new business line and any potential capital infusion or asset acquisition by the new promoters.

4 New Directors Appointed Following Change in Control by Harmony Remedies

🟢 POSITIVE ⭐ 8/10

MANAGEMENT 📅 12 Aug 2026, 07:35 PM

N2N Technologies has reconstituted its board with 4 new director appointments effective August 12, 2026, following a change in management and control. This shift results from a recently concluded Open Offer by Harmony Remedies Pvt Ltd and associates. The new leadership includes professionals with 40+ years of pharmaceutical experience and agro-commodity backgrounds, which is significant for a company with a small market cap of Rs 11 Cr and a TTM revenue of only Rs 1 Cr. This move potentially signals a strategic turnaround for the currently loss-making entity (FY26 PAT of Rs -2.78 Cr).

4 Additional Directors appointed including a Chairman and two Executive Directors on August 12, 2026.
Management control shifted to Harmony Remedies Pvt Ltd following a successful Open Offer.
Mr. Mehul J. Parekh joins as Executive Director bringing 40+ years of pharmaceutical industry experience.
The company is currently struggling with a TTM revenue of only Rs 1 Cr and an OPM of -210.6%.
New board includes expertise in Treasury, Pharma, Agro-commodities, and Corporate Finance.

💡 Watch for upcoming board meetings regarding a potential change in the company's primary business objects or any fresh capital infusion from the new promoters.

Harmony Remedies Takes Control of N2N Technologies; Company to Exit IT Business

🔵 WATCH ⭐ 9/10

M&A 📅 12 Aug 2026, 07:11 PM

Harmony Remedies India Private Limited, along with two Persons Acting in Concert (PACs), has successfully taken management control of N2N Technologies effective August 13, 2026. This follows the completion of an Open Offer under SEBI Takeover Regulations. Notably, the company has announced it will cease its existing IT & Software consulting business operations. Given the company's micro-cap status (Rs 11 Cr market cap) and TTM revenue of only Rs 1 Cr, this total change in leadership and business direction is highly material.

Management and control transition to Harmony Remedies India Private Limited effective August 13, 2026
Outgoing promoters Rahul Dilip Shah and Rekha Rani Sarawgi to cease being promoters
Company officially announced it will cease to be engaged in the IT & Software consulting business
Board meeting for approval concluded in 18 minutes on August 12, 2026
Rahul Dilip Shah's shareholding to be reclassified into the Public category

💡 Investors should monitor upcoming filings for the specific new business line the company intends to enter and the full reconstitution of the Board of Directors.

N2N Technologies Q1 Net Loss Widens to ₹12.49 Lacs as Revenue Drops 54% YoY

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 12 Aug 2026, 06:31 PM

N2N Technologies reported a weak set of results for Q1 FY27, with revenue from operations falling 54.3% YoY to ₹15.20 Lacs from ₹33.28 Lacs. The net loss widened significantly to ₹12.49 Lacs compared to a loss of ₹1.70 Lacs in the corresponding quarter of the previous year. A critical concern is that employee benefit expenses at ₹22.30 Lacs alone exceeded the total revenue for the quarter. The company remains a micro-cap with a market capitalization of approximately ₹11 Cr and continues to struggle with negative operating margins.

Revenue from operations declined 54.3% YoY to ₹15.20 Lacs from ₹33.28 Lacs.
Net loss for the quarter widened to ₹12.49 Lacs, up from a loss of ₹1.70 Lacs in Q1 FY26.
Employee benefit expenses stood at ₹22.30 Lacs, representing 146.7% of the total quarterly revenue.
Total expenses of ₹27.69 Lacs were nearly double the total income of ₹15.20 Lacs.
Earnings Per Share (EPS) worsened to ₹(0.39) from ₹(0.05) in the year-ago period.

💡 Investors should monitor the company's ability to secure new tech support contracts to scale revenue, as current income is insufficient to cover even basic employee costs.

Board Meeting on Aug 12 for Q1 Results and Change in Promoter Control

🔵 WATCH ⭐ 8/10

MANAGEMENT 📅 06 Aug 2026, 09:28 PM

N2N Technologies has scheduled a board meeting for August 12, 2026, to approve its Q1 FY27 financial results and formalize a change in management and promoter control. This transition follows a recently concluded Open Offer, which is a significant event for a micro-cap company with a market capitalization of only ₹11 Cr. The board will also consider the appointment of new directors as part of this change in control. Given the company's TTM revenue of just ₹1 Cr and a TTM loss of ₹3 Cr, this change in leadership is a critical development for potential business restructuring.

Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results.
Formal change of Management and Control of the company to be considered.
Change of Promoters following the recently concluded Open Offer.
Appointment of new Directors to the board pursuant to the change in control.
Company reported a significant loss of ₹2.79 Cr in the most recent quarter (Mar 2026).

💡 Investors should closely monitor the August 12 board meeting outcome to identify the new promoters and understand their strategic roadmap for turning around this loss-making entity.

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