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N. B. I. Industrial Finance Company Limited (NBIFIN)

₹1,830.70 +0.31% last close, 16 Oct

📊 NSE: NBIFIN 🏢 Finance & Investments 📢 Latest filing: 21 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Operating profit	₹1.5	—	—
Net profit	₹1.1	from loss	+325.7%
EPS (₹)	3.75	from loss	+326.1%

Full quarterly financials → Results calendar →

NBIFIN delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 71.43% of the NBIFIN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 79.85%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average.

71.43%Delivery, 16 Oct

79.85%Own 20-session average

<0.1×Volume vs its average

₹1,830.70NSE close · +0.31%

Delivery in the last 5 sessions: 98.1% · 87.0% · 76.5% · 61.3% · 71.4%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

NBIFIN Trading Window Closes from October 1, 2026 for Q2 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Sep 2026, 03:16 PM

N. B. I. Industrial Finance Company Limited has announced the closure of its trading window for designated persons and their immediate relatives starting October 1, 2026. The closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015 for the declaration of financial results for the second quarter ending September 30, 2026. The window will reopen 48 hours after the financial results are declared.

Trading window closes effective October 1, 2026
Closure pertains to financial results for the 2nd Quarter ending September 30, 2026
Trading window reopens 48 hours after the declaration of Q2 results

💡 Track the upcoming board meeting announcement date where Q2 FY27 financial results will be formally approved and declared.

NBIFIN Clarifies Signatory for June 30, 2026 Results Following Demise of Chairman

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 12:51 PM

N. B. I. Industrial Finance Company Limited responded to an NSE clarification query regarding the signing authority for its financial results for the quarter ended June 30, 2026. The company clarified that its Chairman and Non-Executive Director, Shri Ashok Bhandari, passed away on August 03, 2026. Consequently, at the Board meeting held on August 11, 2026, Shri Bankat Lal Gaggar was elected Chairman of the meeting and authorized to sign the quarterly financial results. The response satisfies procedural listing compliance requirements.

NSE sought clarification regarding authorized signatories for financial results for the quarter ended June 30, 2026
Former Chairman Shri Ashok Bhandari (DIN: 00012210) passed away on August 03, 2026
Board elected Shri Bankat Lal Gaggar as Chairman of the meeting on August 11, 2026, and authorized him to sign the results
Company submitted NEAPS acknowledgement dated August 03, 2026 confirming earlier intimation of demise

💡 Track subsequent filings for formal appointments or reconstitutions of board committees following the demise of the former Chairman.

NBIFIN Shareholders Approve Re-appointment of S. P. Kumar as Manager & CFO for 2 Years

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 12:39 PM

N. B. I. Industrial Finance Company Limited (NBIFIN) has secured shareholder approval via special resolution at its 91st AGM on August 21, 2026, for the re-appointment of Shri Sundrapandiyapuram Pichumani Kumar as Manager and Chief Financial Officer. The re-appointment is effective for a period of 2 years starting from September 27, 2026. This provides leadership continuity for the core financial and managerial oversight of the company's Rs 3,404 Cr investment portfolio.

Re-appointment approved for a term of 2 years commencing September 27, 2026
Passed by special resolution at the 91st Annual General Meeting held on August 21, 2026
Role encompasses both Manager and Chief Financial Officer (CFO)

💡 Track subsequent quarterly financial reports and disclosures to monitor portfolio performance and investment dividend yields under continued financial management.

NBIFIN Concludes 91st AGM; Approves Rs 0.75 Per Share Dividend and Re-appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 21 Aug 2026, 05:01 PM

N. B. I. Industrial Finance Company Limited concluded its 91st Annual General Meeting on August 21, 2026, with 79 members present. Key resolutions transacted include the adoption of FY26 audited financial statements and the approval of an ordinary dividend of Rs 0.75 per equity share (face value Rs 5). Shareholders also considered the re-appointment of directors retiring by rotation and the re-appointment of Mr. Sundrapandiyapuram Pichumani Kumar as Manager and CFO.

91st AGM held on August 21, 2026, with a total quorum of 79 members attending
Approval of FY26 dividend of Rs 0.75 per share on equity shares of face value Rs 5
Transacted re-appointment of Shri Bankat Lal Gaggar and Shri Jagdish Prasad Mundra as Directors
Considered re-appointment of Mr. Sundrapandiyapuram Pichumani Kumar as Manager and CFO

💡 Track the formal submission of consolidated e-voting scrutinizer results and the subsequent dividend payout timeline.

₹1.11 Cr Q1 PAT; NBIFIN Receives RBI Type-I NBFC-ND Registration

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 11 Aug 2026, 03:31 PM

NBIFIN reported a Profit After Tax of ₹1.11 Cr for Q1 FY27, a significant turnaround from a loss of ₹0.85 Cr in the same quarter last year. Total income rose to ₹2.19 Cr, primarily driven by dividend income of ₹1.45 Cr. The company also received its formal Certificate of Registration as a Type-I NBFC-ND from the RBI. However, the company noted the sad demise of its Chairman, Shri Ashok Bhandari, on August 3, 2026.

Reported a Net Profit of ₹1.11 Cr in Q1 FY27 compared to a loss of ₹0.85 Cr in Q1 FY26.
Total Comprehensive Income reached ₹79.66 Cr, largely due to a ₹79.00 Cr gain in fair valuation of equity instruments.
Dividend income of ₹1.45 Cr accounted for 66% of the total revenue from operations for the quarter.
Received formal Type-I NBFC-ND registration from the Reserve Bank of India.
Chairman Shri Ashok Bhandari passed away on August 3, 2026, leading to a leadership vacancy.

💡 Investors should monitor the appointment of a new Chairman and track the performance of the Shree Cement group, as NBIFIN's valuation is primarily driven by its ₹3,404 Cr investment portfolio rather than its quarterly operating income.

Demise of Chairman Shri Ashok Bhandari on August 03, 2026

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 03 Aug 2026, 04:50 PM

N. B. I. Industrial Finance Company Limited (NBIFIN) has announced the unexpected demise of its Chairman and Non-Executive Director, Shri Ashok Bhandari, on August 03, 2026. The company functions primarily as an investment holding vehicle for the Bangur group, managing a substantial portfolio valued at Rs 3,404.26 Cr as of H1 FY26. Given the company's structure, where its net worth of Rs 2,638 Cr far exceeds its market cap of Rs 651 Cr, leadership stability is important for strategic oversight of these assets. Investors should expect a board meeting soon to appoint a successor.

Demise of Chairman and Non-Executive Director Shri Ashok Bhandari occurred on August 03, 2026
Company manages a massive investment portfolio of Rs 3,404.26 Cr as of H1 FY26
Net worth of the company stands at Rs 2,638 Cr against a market cap of Rs 651 Cr
Promoter holding remains stable at 74.2% as of March 2026
TTM Revenue of Rs 25 Cr and TTM PAT of Rs 16 Cr reflect the low-cost investment holding structure

💡 Monitor upcoming exchange filings for the appointment of a new Chairman and any potential changes to the board's composition or investment strategy.

14-Aug-2026 Set as Record Date for Dividend and 91st AGM of NBIFIN

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 25 Jul 2026, 03:08 PM

N. B. I. Industrial Finance Company Limited has fixed August 14, 2026, as the record date for determining dividend eligibility for FY 2025-26. The dividend is subject to shareholder approval at the 91st Annual General Meeting (AGM) scheduled for August 21, 2026. If approved, the dividend will be paid starting August 24, 2026. The company operates as an investment vehicle with a massive portfolio of ₹3,404.26 Cr, which is significantly higher than its current market capitalization of ₹655 Cr.

Record date for dividend entitlement fixed for 14-Aug-2026
91st Annual General Meeting scheduled for 21-Aug-2026
Dividend payment to commence on or after 24-Aug-2026
Cut-off date for e-voting eligibility also set for 14-Aug-2026
Company manages an investment portfolio valued at ₹3,404.26 Cr as of H1 FY26

💡 Investors should monitor the AGM proceedings on August 21 for the announcement of the specific dividend amount and updates on the valuation of the company's ₹3,404 Cr investment portfolio.

₹0.75 Dividend Recommended; 91st AGM Scheduled for August 21, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 25 Jul 2026, 12:28 PM

NBIFIN has scheduled its 91st Annual General Meeting (AGM) for August 21, 2026, where it will seek approval for a dividend of ₹0.75 per share (15% of face value). The company is also proposing the re-appointment of two directors over the age of 75 and the re-appointment of its Manager/CFO for a two-year term with a monthly basic salary of ₹1.32 lakh. Despite a massive investment portfolio of ₹3,404.26 Cr, the company's market cap remains low at ₹655 Cr, reflecting a significant holding company discount. The cut-off date for voting and dividend eligibility is August 14, 2026.

Recommended a dividend of ₹0.75 per equity share of ₹5 face value for FY26.
AGM scheduled for August 21, 2026, with a voting cut-off date of August 14, 2026.
Proposed re-appointment of CFO for 2 years with a monthly basic salary of ₹1,32,890 plus allowances.
Investment portfolio valued at ₹3,404.26 Cr as of H1 FY26, which is 5.2x the current market cap of ₹655 Cr.

💡 Monitor the AGM voting results for the approval of the dividend and the re-appointment of key management personnel.

NBIFIN Reports Zero Dematerialization Requests for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Jul 2026, 03:26 PM

N. B. I. Industrial Finance Company Limited (NBIFIN) has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The Registrar and Transfer Agent, Maheshwari Datamatics Pvt. Ltd., confirmed that no dematerialization requests were processed during the period from April 1, 2026, to June 30, 2026. This is a standard administrative filing and does not impact the company's financial position or its substantial investment portfolio of ‡3,404.26 Cr.

Compliance certificate submitted for the quarter ended June 30, 2026.
Zero (0) dematerialization requests were confirmed by the Registrar during the quarter.
The filing covers the period from April 1, 2026, to June 30, 2026.
Company maintains a massive investment portfolio of ‡3,404.26 Cr relative to its ‡545 Cr market cap.

💡 This is a routine regulatory filing. Investors should continue to monitor the valuation of the company's ‡3,404 Cr investment portfolio, particularly its stake in Shree Cement, which is the primary driver of its net worth.

NBIFIN Trading Window to Close from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Jun 2026, 06:34 PM

N. B. I. Industrial Finance Company Limited has notified the exchange regarding the closure of its trading window for designated persons starting July 1, 2026. This closure is mandatory under SEBI (Prohibition of Insider Trading) Regulations ahead of the Q1 financial results for the period ending June 30, 2026. The window will remain shut until 48 hours after the results are publicly disclosed. This is a standard administrative procedure and does not indicate any fundamental change in the company's operations.

Trading window closure effective from July 1, 2026.
Closure pertains to the financial results for the quarter ending June 30, 2026.
Reopening scheduled 48 hours after the official declaration of results.
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory update; investors should wait for the announcement of the board meeting date to review the Q1 performance.

NBIFIN Shareholders Approve Alteration of Memorandum of Association with 99.88% Majority

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 24 Jun 2026, 06:01 PM

N. B. I. Industrial Finance Company Limited has received shareholder approval to alter its Memorandum of Association (MoA) through a special resolution. The voting process, which concluded on June 24, 2026, saw overwhelming support with 99.88% of votes cast in favor. A total of 2,464,770 valid votes were recorded during the remote e-voting period. This regulatory update signifies a formal change in the company's foundational charter, though specific details of the amendment were not disclosed in the scrutinizer's report.

Special Resolution for alteration of Memorandum of Association passed with 99.88% approval.
Total valid votes cast were 2,464,770, representing 65 folios.
Votes in favor amounted to 2,461,830 shares, while only 2,940 shares (0.12%) voted against.
The e-voting period was conducted between May 26, 2026, and June 24, 2026.
The scrutinizer, Rohit Kumarr Mundhra, confirmed the resolution met the requisite majority for a Special Resolution.

💡 Investors should review the specific details of the MoA alteration in the original Postal Ballot Notice to understand if the company is expanding its business objects or changing its capital structure. No immediate trading action is required as this is a standard corporate governance procedure.

NBIFIN Promoters Confirm No Share Encumbrance for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 22 Jun 2026, 03:30 PM

Prashant Bangur, on behalf of the promoters and persons acting in concert (PAC) of N. B. I. Industrial Finance Company Limited, has submitted a formal declaration under SEBI (SAST) Regulations. The disclosure confirms that no encumbrance or pledge was created on the shares held by the promoter group during the financial year 2025-26. This annual compliance filing ensures transparency regarding the status of promoter shareholding. The document was submitted to the National Stock Exchange on April 6, 2026.

Compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Promoters and Persons Acting in Concert (PAC) confirmed zero new encumbrances created during FY 2025-26.
The disclosure was filed by Prashant Bangur on behalf of the entire promoter group.
Ensures the company meets NSE listing requirements for the financial year ending March 2026.

💡 No immediate action is required as this is a routine regulatory filing confirming that promoter shares remain unpledged. Investors should maintain their current outlook based on the company's fundamental performance.

NBIFIN to Alter MOA to Align with RBI Type-I NBFC-ND Status

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 22 May 2026, 11:34 AM

N. B. I. Industrial Finance Company Limited (NBIFIN) is seeking shareholder approval to amend its Memorandum of Association (MOA) to comply with Reserve Bank of India (RBI) directions. The company aims to be re-categorized as a Type-I NBFC-ND, which necessitates the removal of all 'lending' and 'borrowing' provisions from its object clauses. This change indicates that the company will not accept public funds or maintain a customer interface in the future. A postal ballot for this special resolution will be conducted via e-voting from May 26, 2026, to June 24, 2026.

Board approved MOA alterations on May 22, 2026, to meet RBI requirements for Type-I NBFC-ND registration.
The amendments involve deleting 'lend' and 'borrow' phrases from the company's primary object clauses.
The company will transition into a non-deposit taking NBFC with no public funds and no customer interface.
E-voting for the special resolution is scheduled to take place between May 26 and June 24, 2026.
Post-amendment, the company will focus strictly on investment activities in various securities and commodities.

💡 Investors should recognize that NBIFIN is transitioning into a pure-play investment vehicle with restricted operational leverage. Monitor the performance of the company's investment portfolio as it will become the sole driver of value.

NBIFIN to Amend MOA for RBI Compliance as Type-I NBFC-ND

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 22 May 2026, 11:30 AM

N. B. I. Industrial Finance Company Limited (NBIFIN) is amending its Memorandum of Association (MOA) to align with RBI requirements for Type-I NBFC-ND status. The Board approved the removal of 'lending' and 'borrowing' activities from its object clauses during a meeting on May 22, 2026. This reclassification confirms the company will not accept public funds and will not have a customer interface. Shareholders are required to approve these changes via a special resolution through a postal ballot ending June 24, 2026.

Board approved MOA alterations on May 22, 2026, to meet RBI's Type-I NBFC-ND criteria.
Key amendments include deleting 'lend', 'borrow', and 'financiers' from primary object clauses.
Postal ballot e-voting period is scheduled from May 26, 2026, to June 24, 2026.
The company will continue to operate as an investment-focused NBFC without public fund acceptance.
The meeting of the Board concluded within 35 minutes, starting at 10:40 and ending at 11:15 hours.

💡 Investors should note the formalization of the company's business model as a pure investment vehicle and participate in the upcoming postal ballot. Monitor the company's investment portfolio as it will no longer engage in active lending or borrowing.

NBIFIN Amends MOA to Align with RBI Type-I NBFC-ND Regulatory Requirements

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 22 May 2026, 11:27 AM

The Board of N. B. I. Industrial Finance Company Limited has approved amendments to its Memorandum of Association (MOA) to comply with RBI's Type-I NBFC-ND requirements. This reclassification requires the company to remove all 'lending' and 'borrowing' provisions from its primary object clauses. The company will continue to operate as an investment-focused NBFC but will formally cease to accept public funds or maintain customer interfaces. Shareholder approval for these changes is being sought via a postal ballot ending on June 24, 2026.

Board approved MOA alterations on May 22, 2026, to meet RBI's Type-I NBFC-ND criteria.
Specific deletions include the words 'lend, borrow' and 'financiers' from the primary business objects.
Postal ballot e-voting period is scheduled from May 26, 2026, to June 24, 2026.
The company will remain a Non-Banking Financial Company post-amendment, focusing on investment activities.
Amendments also include updates to clauses regarding information technology services and rural development sponsorship.

💡 Investors should recognize this as a regulatory compliance step that formalizes the company's role as a non-lending investment entity. No immediate impact on financial performance is expected, but it clarifies the company's restricted operational scope under RBI guidelines.

View All NBIFIN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: Non-Banking Financial Activity. Total income for H1 FY26 was INR 9.01 Cr, representing a 35.63% decrease from INR 13.99 Cr in H1 FY25. This decline was primarily driven by a 38.71% drop in dividend income, which fell from INR 13.04 Cr to INR 7.99 Cr.

Geographic Revenue Split

100% of revenue is generated within India, with operations managed from its headquarters in Kolkata, West Bengal.

Profitability Margins

Net Profit Margin for H1 FY26 was 63.09%, an improvement from 60.64% in H1 FY25. Despite a 33.03% drop in absolute Net Profit (from INR 8.48 Cr to INR 5.68 Cr), margins remained robust due to the low operating cost structure of an investment holding company.

EBITDA Margin

Operating Profit before tax for H1 FY26 was INR 7.62 Cr, representing a margin of 84.6% on total income. This high core profitability is typical for investment firms with minimal employee and administrative overheads.

Capital Expenditure

Not disclosed in available documents as the company is an investment firm with negligible requirements for physical infrastructure or manufacturing assets.

Credit Rating & Borrowing

Not disclosed in available documents. However, the company is virtually debt-free with finance costs of only INR 0.09 Lakhs for H1 FY26.

⚙️ Operational Drivers

Raw Materials

Not applicable for a Non-Banking Financial Company (NBFC). The primary 'input' is capital, which is sourced from its massive equity base.

Capacity Expansion

The company expanded its investment portfolio during H1 FY26 with a net 'Purchase of Investments' totaling INR 5.43 Cr, increasing its total investment asset base to INR 3,404.26 Cr.

Raw Material Costs

Not applicable. Operating expenses are primarily administrative, with 'Other Expenses' totaling INR 18.82 Lakhs in H1 FY26, representing 2.09% of total income.

Manufacturing Efficiency

Not applicable. Efficiency is measured by investment yield; dividend yield for H1 FY26 was approximately 0.23% on the book value of investments.

📈 Strategic Growth

Growth Strategy

Growth is driven by the appreciation of its INR 3,404.26 Cr investment portfolio and strategic consolidation, such as the amalgamation with Western India Commercial Company Limited. The company also holds a strategic stake in Shree Cement Marketing Limited (Associate) to benefit from the cement industry's growth.

Products & Services

Investment holding services, financing, and non-banking financial activities.

Brand Portfolio

NBIFIN

Market Expansion

The company shifted its registered office to HMP House, Kolkata, effective November 17, 2025, to optimize administrative functions within the local limits.

Strategic Alliances

Maintains a strategic associate relationship with Shree Cement Marketing Limited.

🌍 External Factors

Industry Trends

The NBFC sector is seeing increased regulatory compliance requirements. NBIFIN is positioned as a stable, high-net-worth investment vehicle for the Bangur group, focusing on long-term capital preservation and growth.

Competitive Landscape

Competes with other large-cap investment holding companies and NBFCs in the Indian financial sector.

Competitive Moat

The company's moat is its massive capital reserve. 'Other Equity' of INR 3,215.54 Cr against a small share capital of INR 1.48 Cr provides an unparalleled financial buffer that allows it to withstand prolonged market downturns.

Macro Economic Sensitivity

Highly sensitive to equity market performance and interest rate cycles, which affect the valuation of its financial assets and the dividend-paying capacity of its portfolio companies.

Geopolitical Risks

Indirect exposure through its investment portfolio; global economic shifts affecting the Indian cement and industrial sectors could reduce dividend inflows.

⚖️ Regulatory & Governance

Industry Regulations

Complies with RBI NBFC regulations and SEBI (LODR) Regulations, including Regulation 33 for financial reporting and Regulation 31(4) regarding promoter share encumbrances.

Taxation Policy Impact

The effective tax rate for H1 FY26 was 22.7%, with a current tax expense of INR 1.73 Cr on a Profit Before Tax of INR 7.62 Cr.

⚠️ Risk Analysis

Key Uncertainties

Concentration risk is high as the company operates in a single segment. Market risk is the primary uncertainty, with 99.9% of assets tied to investment valuations.