Nesco Limited (NESCO)
₹1,050.60 +0.23% last close, 16 Oct
Q2 FY27 results
📅 Next results: 23 Oct 2026 (board meeting)Nesco Limited's board meets on 23 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Nesco's revenue was ₹212 Cr (+9.7% year on year, -15.9% on the previous quarter), and net profit ₹100 Cr (+4.0% year on year); the operating margin was 48.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹212 | +9.7% | -15.9% |
| Operating profit | ₹102 | -7.6% | -13.6% |
| Net profit | ₹100 | +4.0% | +7.5% |
| EPS (₹) | 14.19 | +4.0% | +7.4% |
| Operating margin | 48.1% | — | — |
NESCO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 53.31% of the NESCO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 54.86%. That is close to its usual level. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 51.1% · 63.8% · 61.0% · 55.6% · 53.3%
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
Nesco Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited, the company's Registrar and Share Transfer Agent. It confirms that share certificates received for dematerialisation during the quarter were processed, verified, and cancelled within prescribed timelines. This is a standard quarterly administrative filing with zero impact on operational or financial metrics.
- Compliance certificate filed under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarterly period ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited on October 03, 2026
- Submitted to BSE and NSE on October 06, 2026
Nesco Limited submitted a revised clarification to the National Stock Exchange regarding its financial results for the quarter ended 30 June 2026. The company stated that subsidiary operations during Q1 FY27 involved nominal income and expenditure, resulting in standalone and consolidated financials being nearly identical when reported in Rs. Crores. Additionally, multi-segment reporting covering Realty, Bombay Exhibition Center, Indabrator, Foods, and Way-side Amenities was appropriately detailed in XBRL submissions in accordance with Schedule III of the Companies Act, 2013.
- Clarification filed regarding financial results submitted on 27 July 2026 for quarter ended 30 June 2026
- Subsidiary income and expenditure were nominal, making standalone and consolidated figures nearly identical in Rs. Crores
- Multi-segment reporting submitted in XBRL covering 5 key segments: Realty, Bombay Exhibition Center, Indabrator, Foods, and Way-side Amenities
- Company confirmed compliance with Schedule III format and Indian Accounting Standards
Nesco Limited received a communication from National Highways Logistics Management Limited (NHLML) on September 9, 2026, levying a penalty of ₹2.0972 crore (₹2.10 Cr). The penalty pertains to alleged delays in implementation timelines for a project under tender no. 2024_NHAI_198970_1. The financial penalty represents less than 0.22% of Nesco's TTM revenue (₹951 Cr) and about 0.5% of TTM PAT (₹417 Cr). Nesco stated it plans to make a representation to NHLML and take appropriate contractual actions.
- Penalty of Rs. 2,09,72,000/- levied by National Highways Logistics Management Limited (NHLML)
- Communication received by the company on 09 September 2026
- Penalty issued under tender no. 2024_NHAI_198970_1 regarding project implementation timeline delays
- Penalty value represents ~0.22% of Nesco's TTM revenue of ₹951 Cr
Nesco Limited announced its participation in the Avendus Spark Small Cap Investor Conference on September 8, 2026, and filed an updated investor presentation. The filing details ongoing projects, including an estimated ₹125 Cr capex for Wayside Amenities across 4 awarded highway sites with completion targeted by Q4 (representing ~13.1% of TTM revenue of ₹951 Cr). The presentation also highlighted steady operations across IT Park Towers 3 & 4 (average realizations of ₹184 and ₹178 psf/month) and the ongoing 15,000 sq. m Hall 1 exhibition development.
- Participating in Avendus Spark Small Cap Investor Conference on 8th September 2026 in Mumbai
- Estimated capex of approx. ₹125 Cr for Wayside Amenities (4 sites on Hyderabad-Visakhapatnam Expressway)
- IT Park Tower 3 and Tower 4 generating average rental realizations of ₹184 and ₹178 psf/pm
- Bombay Exhibition Center encompasses 55,384 sq. m existing area, with 15,000 sq. m Hall 1 under development
- Reported Q1 FY27 total income of ₹255 Cr with PAT of ₹99 Cr
Nesco Limited has received a communication from the Brihanmumbai Municipal Corporation (BMC) Assessment and Collection Department regarding property tax payments for its Goregaon (East) properties. The demand covers FY 2026-27 and earlier years and includes a penalty of ₹1,60,65,294 (₹1.61 crore) for delayed payments. The penalty amount is minimal, representing approximately 0.38% of the company's TTM PAT of ₹417 crore. Nesco stated that the intimation has no material impact on operations or financials and has engaged legal counsel to evaluate the notice.
- Received property tax assessment communication from BMC for Goregaon (East) premises on 27 August 2026.
- Communication includes a penalty of ₹1,60,65,294 (₹1.61 crore) pertaining to FY 2026-27 and earlier years.
- Penalty equals ~0.38% of TTM PAT (₹417 crore) and ~0.17% of TTM revenue (₹951 crore).
- Company confirmed no material impact on operations and has engaged legal experts to assess next steps.
Nesco Limited has received an Environmental Clearance Certificate from the State Environment Impact Assessment Authority (SEIAA) dated August 26, 2026, for proposed projects in its Realty and Exhibition segments at Nesco Center, Goregaon (East), Mumbai. The certificate was received on August 27, 2026, as a one-time approval. This regulatory milestone enables the company to proceed with seeking the Certificate of Commencement (CC) for development at its core asset.
- Received Environmental Clearance Certificate dated 26 August 2026 from SEIAA on 27 August 2026.
- Applies to proposed development projects in Realty and Exhibition divisions at Nesco Center, Goregaon (East), Mumbai.
- Enables the company to apply for the Certificate of Commencement (CC) subject to compliance conditions.
- Approval granted as a one-time regulatory clearance.
Nesco Limited has scheduled its participation in the Equirus Annual India Conference 2026 on August 13, 2026, in Mumbai. The management will engage in one-to-one and group sessions to discuss the company's business based on publicly available information. This interaction occurs as the company maintains a high TTM operating profit margin of 52.6% and a PAT of Rs 413 Cr. Despite strong fundamentals, the stock has experienced a 23.3% decline over the last 12 months, making institutional engagement noteworthy.
- Investor meeting scheduled for Thursday, August 13, 2026
- Participation in the Equirus Annual India Conference 2026 at Sofitel, BKC
- Format includes both One-to-One and Group Sessions in person
- Company reports TTM Revenue of Rs 932 Cr and TTM PAT of Rs 413 Cr
- Operating Profit Margin (OPM) remains high at 52.6% as per latest annual data
Nesco Limited has announced its participation in the Nirmal Bang Semi-Annual Investor Conference 2026, scheduled for August 10, 2026, in Mumbai. The interaction will include one-on-one and group sessions with institutional investors and analysts. The company has stated that discussions will be limited to publicly available information, with no unpublished price-sensitive information (UPSI) being shared. This meeting comes as the company maintains a strong financial profile with a TTM revenue of ₹932 Cr and a high operating margin of 52.6%.
- Meeting scheduled for Monday, August 10, 2026, at Trident, BKC, Mumbai.
- Participation in the Nirmal Bang Semi-Annual Investor Conference 2026.
- Interaction format includes both one-on-one and group sessions.
- Company reported a TTM PAT of ₹413 Cr and TTM Revenue of ₹932 Cr.
- Discussions will strictly adhere to publicly available information.
Nesco Limited reported a milestone FY26 with total income crossing ₹1,000 Cr for the first time, reaching ₹1,031 Cr (up 22% YoY). The Foods division was the standout performer with 107% revenue growth to ₹238 Cr, while the core Realty division grew 8.6% to ₹398 Cr. The company has commenced construction on Tower 2, a major integrated office and hotel project with a 60-month completion timeline. Nesco remains debt-free with a strong liquidity position of ₹1,471 Cr, representing nearly 20% of its current market capitalization.
- Total income for FY26 reached ₹1,031 Cr, a 22% increase over the previous year
- Foods division revenue surged by 107% to ₹238 Cr, driven by 12 restaurants and catering services
- Realty division reported ₹398 Cr in revenue with Towers 3 and 4 maintaining 100% occupancy
- Company maintains a debt-free status with cash and liquidity of ₹1,471 Cr
- Wayside Amenities vertical is developing 4 sites with operations expected to start by end of FY27
Nesco Limited has appointed Mr. Ashish Joshi as the Chief Procurement & Contracts Officer, effective July 28, 2026. Mr. Joshi is designated as Senior Managerial Personnel and brings over 30 years of experience in strategic procurement and supply chain management within the real estate and infrastructure sectors. His previous leadership roles include stints at major developers such as Oberoi Realty and Piramal Realty. This appointment aligns with Nesco's operational focus on infrastructure upgrades and its expansion into Way Side Amenities (WSAs).
- Appointment of Mr. Ashish Joshi as Chief Procurement & Contracts Officer effective July 28, 2026
- Mr. Joshi brings over 30 years of experience in strategic procurement, sourcing, and vendor development
- Previous leadership experience includes roles at Piramal Realty, Puravankara Limited, Oberoi Realty, and Runwal Developers
- The appointment is part of the Senior Managerial Personnel (SMP) cadre as per SEBI regulations
Nesco Limited shareholders have officially ratified all resolutions at the 67th Annual General Meeting held on July 27, 2026. A dividend of ₹7.00 per equity share (350% of face value) for FY26 was approved, following a year where the company reported a TTM PAT of ₹413 Cr. Key management changes were confirmed, including the appointment of Mr. Rajesh G. Upadhyay as Whole-time Director (Executive Director - Commercial & Operations). The voting results showed overwhelming support, with most resolutions passing with nearly 100% approval from the 53 million votes polled.
- Approved a dividend of ₹7.00 per equity share of face value ₹2 each for the financial year ended March 31, 2026
- Confirmed the appointment of Mr. Rajesh G. Upadhyay as Whole-time Director (Executive Director - Commercial & Operations)
- Adoption of FY26 Standalone and Consolidated financial statements passed with 100% of votes in favour
- Special resolution for the re-appointment of Mrs. Sudha S. Patel passed with 99.84% majority
- A total of 53,007,821 votes were polled for the dividend resolution across 218 participating shareholders
Nesco Limited conducted its 67th Annual General Meeting on July 27, 2026, to pass seven key resolutions. These included the adoption of FY26 financial statements and the declaration of a dividend for the same period. A notable management change is the appointment of Mr. Rajesh G. Upadhyay as a Whole-time Director, designated as Executive Director (Commercial & Operations). The Chairman also addressed performance across business verticals, including the Realty division and the Indabrator engineering division.
- 67th Annual General Meeting held on July 27, 2026, via Video Conference.
- 7 resolutions proposed, including the adoption of FY26 standalone and consolidated financial statements.
- Appointment of Mr. Rajesh G. Upadhyay as Whole-time Director (Executive Director - Commercial & Operations).
- Re-appointment of Mrs. Sudha S. Patel as a Non-executive, Non-independent Director.
- Meeting duration was 75 minutes, concluding at 4:45 PM IST.
Nesco Limited has responded to a clarification sought by the National Stock Exchange regarding its financial results for the quarter and year ended March 31, 2026. The company confirmed that there are no discrepancies between its PDF and XBRL filings concerning reserves and comprehensive income. It clarified that standalone and consolidated figures are nearly identical because the transactions in its subsidiary (Nesco Retail) were nominal during this period. This filing serves as a technical confirmation of the previously reported Mar 2026 PAT of ₹93.0 crore.
- Clarification issued regarding the financial statements originally submitted on May 25, 2026
- Company confirms zero mismatch in 'Reserves excluding revaluation' between PDF and XBRL formats
- Subsidiary operations for FY26 described as nominal, involving only equity contribution and minor expenses
- Mar 2026 quarterly revenue confirmed at ₹252.0 crore with an OPM of 46.8% for that specific quarter
- Maintains TTM PAT of ₹413 crore and a strong net worth of ₹2,996 crore
Nesco Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document confirms that for the quarter ended June 30, 2026, all share certificates received for dematerialization were processed, cancelled, and substituted with the depository's name in the register of members. This filing is a standard procedural requirement facilitated by the Registrar and Share Transfer Agent, MUFG Intime India Pvt. Ltd. There are no operational or financial updates included in this announcement.
- Quarterly compliance certificate submitted for the period ending June 30, 2026
- Confirmation of dematerialization processing by MUFG Intime India Pvt. Ltd (formerly Link Intime)
- Compliance maintained under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Nesco Limited has scheduled its 67th Annual General Meeting (AGM) for July 27, 2026, at 3:30 PM IST via video conferencing. The company has released its Annual Report for the financial year 2025-26 and is reaching out to shareholders who have not yet registered their email addresses to provide access to the documents. This is a standard regulatory procedure following the conclusion of the fiscal year. Investors should review the report for detailed operational performance across its IT park, exhibition, and engineering divisions.
- 67th Annual General Meeting scheduled for July 27, 2026, at 03:30 P.M. IST
- Annual Report for the financial year 2025-26 (FY 2026) has been officially released
- Mandatory electronic payment of dividends for physical holders without updated KYC effective since April 1, 2024
- Company is utilizing a web-link based distribution for shareholders without registered email addresses
- TTM Revenue stands at ₹932 Cr with a high Operating Profit Margin of 52.6%
Financial Performance
Revenue Growth by Segment
Nesco Realty grew 15.03% YoY to INR 36,616.83 lakhs; Nesco Foods grew 15.98% YoY to INR 11,515.41 lakhs; Bombay Exhibition Center declined 4.20% YoY to INR 20,029.94 lakhs; Indabrator declined 2.16% YoY to INR 5,038.53 lakhs.
Geographic Revenue Split
Primary revenue is generated in Mumbai, Maharashtra (Realty, BEC, Foods). Indabrator operates manufacturing plants in Karamsad and Vishnoli, Gujarat, contributing to domestic engineering sales.
Profitability Margins
Consolidated Total Income from Operations for H1 FY26 reached INR 485.03 Cr, a 34.28% increase from INR 361.21 Cr in H1 FY25. Net profit trends are supported by a debt-free balance sheet and high liquid resources.
EBITDA Margin
Not explicitly disclosed as a percentage, but consolidated total income for Q2 FY26 grew 28.44% YoY to INR 263.58 Cr, indicating strong core operational growth.
Capital Expenditure
Internal funds were deployed towards capital expenditure in the Realty division during FY25. The company maintains liquid resources of INR 1,113.05 Cr to fund ongoing expansion.
Credit Rating & Borrowing
The company remains debt-free as of 31 March 2025, eliminating interest rate risk on borrowings and maintaining a highly liquid balance sheet.
Operational Drivers
Raw Materials
Steel and industrial machinery components for the Indabrator division. Specific percentage of total cost not disclosed.
Import Sources
Sourced domestically for engineering operations in Gujarat; specific import countries not disclosed.
Capacity Expansion
Nesco Realty operates 17.50 lakh+ sq. ft. of chargeable area within a 2.5 million sq. ft. IT/ITES Park. Indabrator is undergoing infrastructure and process upgrades to enhance manufacturing capabilities.
Raw Material Costs
Impacted by commodity price fluctuations; procurement strategies focus on efficiency-driven cost optimization to mitigate market volatility.
Manufacturing Efficiency
Indabrator focuses on streamlined operations and enhanced system implementation to drive equipment sales and cost optimization.
Strategic Growth
Expected Growth Rate
34.28%
Growth Strategy
Achieving growth through the development of Way Side Amenities (WSAs) at 11 locations along national expressways via Nesco Retail Private Limited, infrastructure upgrades in the Indabrator division, and leveraging the revival of trade events at the Bombay Exhibition Center.
Products & Services
IT/ITES office spaces, Exhibition and event halls, Shot blasting and peening machines, Catering and food services, Highway way side amenities.
Brand Portfolio
Nesco Realty, Bombay Exhibition Center (BEC), Indabrator, Nesco Foods.
New Products/Services
Way Side Amenities (WSAs) offering fuel and non-fuel services across 11 national expressway locations; expected to expand the company's footprint beyond urban hubs.
Market Expansion
Strategic expansion into India’s high-growth expressway corridors through the WSA vertical to become a pan-India player in food and retail.
Market Share & Ranking
Indabrator is a market leader in surface preparation technologies with over 60 years of expertise.
Strategic Alliances
Awarded 3 mandates by National Highways Logistics Management Limited (NHLML) for WSA development.
External Factors
Industry Trends
Revival of physical business and trade events is driving growth in the Exhibitions segment, while the 'Make in India' initiative supports the Engineering vertical.
Competitive Landscape
Machinery space faces heightened competition from global players with localized manufacturing and aggressive pricing strategies.
Competitive Moat
Sustainable competitive advantage derived from a debt-free balance sheet, INR 1,113 Cr in liquid assets, and prime real estate location on Mumbai's Western Express Highway with seamless metro/rail access.
Macro Economic Sensitivity
Sensitive to India's GDP growth, domestic manufacturing pushes (Make in India/PLI), and Tier I/II city consumption trends.
Consumer Behavior
Evolving consumer tastes in the hospitality sector require ongoing innovation and agility in the Nesco Foods division.
Geopolitical Risks
Global volatility and geopolitical developments are cited as risks that could cause actual results to differ from projections.
Regulatory & Governance
Industry Regulations
FSSAI compliance, labeling norms, and hygiene standards for Nesco Foods; SEBI (LODR) Regulations for corporate governance; NHLML mandates for highway amenities.
Environmental Compliance
Indabrator must comply with stricter workplace health, safety, and environmental regulations, necessitating enhanced compliance systems.
Taxation Policy Impact
Subject to changes in domestic tax policies and regulatory frameworks; specific effective tax rate not disclosed.
Legal Contingencies
The company reported no transactions that were fraudulent, illegal, or in violation of the code of conduct for FY25. Specific court case values not disclosed.
Risk Analysis
Key Uncertainties
Regulatory delays, market volatility, and potential impact of natural disasters or force majeure events on business continuity.
Geographic Concentration Risk
High revenue concentration in Mumbai (Goregaon), though expanding to 11 locations via highway amenities.
Third Party Dependencies
Dependency on National Highways Logistics Management Limited for the expansion of the WSA business vertical.
Technology Obsolescence Risk
Indabrator faces risks from evolving client expectations; mitigated through continuous infrastructure and process upgrades.
Credit & Counterparty Risk
Investment portfolio is predominantly allocated across bonds, debt mutual funds, corporate deposits, and NCDs, subject to quarterly review by the audit committee.
