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Tulsyan NEC Ltd (513629)

📊 BSE: 513629 🏢 Iron & Steel Products 📢 Latest filing: 28 Aug 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Tulsyan NEC's revenue was ₹147 Cr (-42.8% year on year, -10.9% on the previous quarter), and net profit ₹-21.0 Cr (a bigger loss than a year earlier); the operating margin was -4.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹147	-42.8%	-10.9%
Operating profit	₹-6.0	to loss	loss widened
Net profit	₹-21.0	loss widened	loss widened
EPS (₹)	-13.01	loss widened	loss widened
Operating margin	-4.1%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Tulsyan NEC Releases FY26 Annual Report; 79th AGM Scheduled for September 19, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Aug 2026, 07:28 PM

Tulsyan NEC Limited has submitted its FY26 Annual Report and notice for its 79th Annual General Meeting, scheduled for September 19, 2026. Key agenda items include the adoption of FY26 audited financial statements and the appointment of M/s SRBR and Associates LLP as Statutory Auditors for a 5-year term. The notes on contingent liabilities disclose pending matters including an IBC Section 9 notice claim of ₹13.25 crore by Resurgent Power Projects and an Income Tax addition of ₹48.91 crore for AY 2017-18.

79th AGM to be convened via Video Conferencing on September 19, 2026 at 11:30 AM IST
Proposed appointment of M/s SRBR and Associates LLP as Statutory Auditors for a 5-year term replacing retiring auditors
Disclosed contingent liability of ₹23.13 crore (₹2,312.85 Lacs) under dispute with TNEB / TANGEDCO
Section 9 IBC demand notice of ₹13.25 crore by Resurgent Power Projects disputed with ₹11.78 crore in liquidated damages
Income tax addition under Section 143(3) of ₹48.91 crore for AY 2017-18 disputed at appellate forums

💡 Review voting resolutions and track upcoming corporate governance developments and resolutions of ongoing tax and operational dispute claims.

Tulsyan NEC Convenes 79th AGM on Sept 19, 2026; Issues FY26 Annual Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Aug 2026, 07:24 PM

Tulsyan NEC Limited has released the notice for its 79th Annual General Meeting scheduled for September 19, 2026, alongside its FY25-26 Annual Report. The agenda includes the adoption of financial statements, re-appointment of director Lalit Kumar Tulsyan, and appointment of M/s SRBR and Associates LLP as Statutory Auditors for a 5-year term. Financial disclosures in the report highlight a net loss of ₹64.44 Cr (₹6,443.99 Lakhs) for FY26 compared to a loss of ₹72.70 Cr in FY25, with negative EPS at ₹-39.15.

79th AGM scheduled for Saturday, September 19, 2026 at 11:30 AM IST via Video Conferencing.
Reported FY26 standalone loss before tax of ₹6,443.99 Lakhs vs ₹7,269.61 Lakhs in FY25.
Appointment of M/s SRBR and Associates LLP as Statutory Auditors proposed for a 5-year tenure up to 2031.
FY26 raw materials and stores consumption totaled ₹57,330.33 Lakhs, down from ₹63,252.18 Lakhs in FY25.
FOB value of export earnings dropped to ₹1,163.45 Lakhs in FY26 from ₹2,404.35 Lakhs in FY25.

💡 Track voting outcomes of the AGM on September 19, 2026, and look for management commentary on debt resolution and operational turnaround in upcoming quarterly earnings.

Rs 21.4 Cr Net Loss in Q1 FY27; Tulsyan NEC Reports 43% Revenue Decline and Debt Moratorium

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 02:50 PM

Tulsyan NEC reported a consolidated net loss of Rs 21.41 crore for the quarter ended June 30, 2026, widening from a loss of Rs 10.25 crore in the year-ago period. Consolidated revenue from operations fell 43% YoY to Rs 146.70 crore, primarily due to the power plant being shut down for almost the entire quarter. The company has secured a moratorium on NCD coupon payments until August 31, 2026, and extended the final redemption date to September 30, 2027, signaling significant liquidity pressure. A new fuel supply agreement with Mahanadi Coalfields was signed in May 2026 to potentially lower future power generation costs.

Consolidated revenue dropped 43% YoY to Rs 146.70 crore from Rs 257.30 crore in June 2025.
Net loss widened to Rs 21.41 crore compared to a loss of Rs 10.25 crore in the same quarter last year.
Power segment revenue collapsed to Rs 2.15 crore from Rs 74.40 crore YoY due to a major plant shutdown.
NCD terms revised to include a coupon payment moratorium from April 1, 2026, to August 31, 2026.
Finance costs remained high at Rs 20.32 crore for the quarter, representing ~14% of total revenue.

💡 Investors should monitor the operational status of the power plant in Q2 and the company's ability to resume 'ramped-up' coupon payments starting September 2026. The high debt-to-equity ratio of 2.19 and continued losses make this a high-risk situation.

Tulsyan NEC Approves Q1 Results and Recommends New Statutory Auditors for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 10 Aug 2026, 02:42 PM

Tulsyan NEC held its board meeting on August 10, 2026, to approve the un-audited financial results for the quarter ended June 30, 2026. The board recommended the appointment of M/s. SRBR and Associates LLP as Statutory Auditors for a five-year term (2026-2031), replacing the retiring auditors. Additionally, the company noted the resignation of Mr. G. Nagesh, President-Operation, effective May 31, 2026. The company continues to face financial headwinds with a TTM net loss of ₹64 crore and a high debt-to-equity ratio of 2.19.

79th Annual General Meeting (AGM) scheduled for September 19, 2026.
New Statutory Auditors recommended for a 5-year term ending in 2031.
Internal Auditors M/s. Madhu Balan & Associates appointed for a period through FY 2029-30.
Resignation of Mr. G. Nagesh (President-Operation) confirmed effective May 31, 2026.
TTM Revenue stands at ₹807 crore against a small market capitalization of ₹60 crore.

💡 Investors should review the detailed Q1 FY27 financial statements to check for any improvement in operating margins, which were 0% in FY26.

Tulsyan NEC Board Meeting on August 10, 2026, to Approve Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 04 Aug 2026, 11:39 AM

Tulsyan NEC Ltd has scheduled a board meeting for August 10, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company is currently facing significant financial headwinds, with a TTM net loss of ₹64 Cr and a high debt-to-equity ratio of 2.19. Revenue has shown a declining trend, falling from ₹257 Cr in June 2025 to ₹165 Cr in March 2026. Investors should monitor the upcoming results for any signs of operational stabilization or margin improvement.

Board meeting scheduled for August 10, 2026, to approve Q1 FY27 results
Trading window closed from July 01, 2026, to August 12, 2026
Company reported a net loss of ₹19.0 Cr in the most recent quarter (March 2026)
Total debt stands at ₹406 Cr against a market capitalization of only ₹57 Cr
TTM revenue of ₹807 Cr reflects a contraction compared to FY25 revenue of ₹868 Cr

💡 Monitor the financial results on August 10, 2026, specifically focusing on whether the company can reverse its negative operating profit trend seen in the March 2026 quarter.

Tulsyan NEC Divests 99.80% Stake in Subsidiary Sapient Packing for Rs 99,800

🟡 NEUTRAL ⭐ 4/10

M&A 📅 16 Jul 2026, 05:39 PM

Tulsyan NEC Limited has completed the disinvestment of its entire 99.80% stake in its subsidiary, Sapient Packing Private Limited (SPPL), as of July 16, 2026. The stake, comprising 9,980 equity shares, was sold to Mrs. Alka Tulsyan, a member of the promoter group, for a total consideration of Rs 99,800. SPPL was a dormant entity with zero revenue and a net worth of Rs 1,00,000 as of March 31, 2026. This transaction simplifies the company's corporate structure by removing a non-operational unit.

Divested 99.80% stake representing 9,980 equity shares of Rs 10 each
Total consideration received for the sale is Rs 99,800
Subsidiary reported NIL revenue for the financial year ending March 31, 2026
Net worth of the divested subsidiary was Rs 1,00,000
Transaction completed on July 16, 2026, with a promoter group member

💡 Investors should view this as a routine corporate cleanup of a dormant subsidiary. No significant financial impact is expected given the negligible transaction value and zero revenue of the unit.

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