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NSIL - Nalwa Sons Invst

📊 NSE: NSIL 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 10:16

📢 Recent Corporate Announcements

NSIL Q3 FY26 Standalone PAT Declines 13.4% YoY to ₹5.01 Crore

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 01:06 PM

Nalwa Sons Investments Limited (NSIL) reported a standalone Profit After Tax (PAT) of ₹5.01 crore for the quarter ended December 31, 2025, compared to ₹5.79 crore in the same quarter last year. Total revenue from operations remained nearly flat at ₹8.26 crore versus ₹8.37 crore YoY. For the nine-month period, dividend income saw a significant drop to ₹34.37 crore from ₹55.19 crore in the previous year. However, Other Comprehensive Income (OCI) showed a positive swing of ₹25.02 crore due to fair value changes in equity instruments, reversing a massive loss in the prior year's quarter.

Standalone Net Profit for Q3 FY26 stood at ₹500.90 Lakhs vs ₹578.70 Lakhs YoY.
Total Revenue from Operations for the quarter was ₹825.74 Lakhs, a marginal 1.3% decrease YoY.
9M FY26 Dividend Income fell sharply to ₹34.37 Crore from ₹55.19 Crore in 9M FY25.
Other Comprehensive Income (OCI) turned positive at ₹25.02 Crore compared to a loss of ₹1,244.71 Crore in Q3 FY25.
Quarterly EPS decreased to ₹9.75 from ₹11.27 in the corresponding period of the previous year.

💡 As NSIL is primarily an investment company, its performance is highly sensitive to dividend payouts and market valuations of its portfolio holdings. Investors should focus on the intrinsic value of the underlying assets rather than quarterly profit fluctuations.

NSIL Q3 Standalone PAT Declines 13.4% YoY to ₹5.01 Crore; 9M Comprehensive Loss Widens

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 12:51 PM

Nalwa Sons Investments Limited (NSIL) reported a standalone net profit of ₹500.90 Lakhs for Q3 FY26, down from ₹578.70 Lakhs in the corresponding quarter last year. Total standalone revenue remained nearly flat at ₹825.74 Lakhs compared to ₹836.84 Lakhs YoY. The company's nine-month performance shows a significant decline in profitability, with PAT falling to ₹42.54 Crore from ₹59.49 Crore. Most concerning is the nine-month total comprehensive loss of ₹475.71 Crore, driven by massive negative fair value changes in its equity investment portfolio.

Standalone PAT for Q3 FY26 decreased by 13.4% YoY to ₹500.90 Lakhs.
Nine-month standalone PAT dropped to ₹4,253.77 Lakhs from ₹5,949.40 Lakhs in the previous year.
Total Comprehensive Income for the nine-month period stands at a loss of ₹475.71 Crore due to fair value adjustments.
Dividend income for the quarter was minimal at ₹1.19 Lakhs compared to ₹1,294.15 Lakhs in the preceding quarter.
Recognized an exceptional item of ₹2.36 Lakhs related to the impact of New Labour Codes.

💡 Investors should monitor the volatility in the company's investment portfolio, as fair value changes are significantly impacting total comprehensive income. The stock remains a play on the underlying value of its group company holdings rather than operational cash flows.

NSIL Q3 FY26 Standalone PAT Declines 13.4% YoY to ₹5.01 Crore

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 12:40 PM

Nalwa Sons Investments Limited (NSIL) reported a standalone net profit of ₹5.01 crore for the quarter ended December 31, 2025, down from ₹5.79 crore in the corresponding quarter last year. Total revenue from operations remained nearly flat at ₹8.26 crore compared to ₹8.37 crore YoY. A significant turnaround was noted in Total Comprehensive Income, which reached ₹30.03 crore due to positive fair value changes in equity instruments, reversing a massive loss in the previous year's quarter. For the nine-month period, standalone PAT declined by 28.5% to ₹42.54 crore.

Standalone Net Profit for Q3 FY26 stood at ₹500.90 Lakhs vs ₹578.70 Lakhs in Q3 FY25.
Standalone Revenue from Operations was ₹825.74 Lakhs, a marginal decline from ₹836.84 Lakhs YoY.
Total Comprehensive Income swung to a positive ₹3,003.07 Lakhs from a loss of ₹1,23,891.82 Lakhs in the previous year's quarter.
Nine-month (9M FY26) Standalone PAT decreased to ₹4,253.77 Lakhs from ₹5,949.40 Lakhs in 9M FY25.
The company recorded an exceptional item of ₹2.36 Lakhs related to provisions for the New Labour Codes.

💡 As NSIL is an investment holding company, investors should monitor the market value of its underlying portfolio (primarily Jindal Group companies) rather than short-term PAT fluctuations. The significant volatility in Total Comprehensive Income reflects the market performance of its equity holdings.

NSIL Board Meeting on Feb 13 to Approve Q3 FY2025-26 Financial Results

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 06 Feb 2026, 03:54 PM

Nalwa Sons Investments Limited (NSIL) has scheduled a board meeting for February 13, 2026, to consider and approve its unaudited standalone and consolidated financial results. The results will cover the third quarter and the nine-month period ending December 31, 2025. This meeting is a mandatory regulatory requirement under SEBI (LODR) Regulations. Additionally, the company confirmed that the insider trading window will remain closed until February 18, 2026.

Board meeting scheduled for February 13, 2026, to approve Q3 financial results.
Results will include both standalone and consolidated figures for the period ended December 31, 2025.
Trading window for insiders is set to reopen on February 18, 2026.
The announcement is in compliance with Regulation 29 of SEBI (LODR) Regulations, 2015.

💡 Investors should monitor the company's financial performance on February 13 to assess the health of its investment portfolio. No immediate action is necessary as this is a routine regulatory notification.

NSIL Files Quarterly Compliance Certificate for Share Dematerialization (Q3 FY26)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 16 Jan 2026, 05:34 PM

Nalwa Sons Investments Limited (NSIL) has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing, dated January 16, 2026, covers the quarter ended December 31, 2025. It confirms that share certificates received for dematerialization were processed, mutilated, and cancelled within the prescribed timelines. This is a standard administrative procedure to ensure the integrity of the company's electronic shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Registrar MUFG Intime Private Limited confirms processing of all dematerialization requests.
Physical share certificates were mutilated and cancelled after due verification by the depository participant.
Confirmation that dematerialized securities are listed on the BSE and NSE where earlier shares were listed.

💡 No action is required from investors as this is a routine regulatory filing confirming administrative compliance. Investors should continue to monitor the company's financial performance and upcoming earnings reports.

NSIL Shareholders Approve Re-appointment of Two Independent Directors via Postal Ballot

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Jan 2026, 12:16 PM

Nalwa Sons Investments Limited (NSIL) has announced the successful passage of two special resolutions via postal ballot for the re-appointment of Independent Directors. Mr. Kanwaljit Singh Thind and Mrs. Shruti Shrivastava have both been re-appointed for a second five-year term. Both resolutions received approximately 79.26% votes in favor, meeting the requisite majority for special resolutions. While promoters and institutions supported the moves, there was significant dissent from public non-institutional shareholders, with over 99.8% of votes cast in that category opposing the appointments.

Re-appointment of Mr. Kanwaljit Singh Thind approved with 79.26% votes in favor and 20.74% against.
Re-appointment of Mrs. Shruti Shrivastava approved with 79.26% votes in favor and 20.74% against.
Promoter group cast 2,856,391 votes (100% of their polled votes) in favor of both resolutions.
Public Non-Institutions showed high dissent, with 773,898 votes cast against the re-appointments.
Total valid votes cast across both resolutions amounted to 3,873,653 from a base of 38,606 shareholders.

💡 Investors should note the continuity in the company's board leadership following these approvals. However, the high level of dissent from retail/non-institutional shareholders may indicate underlying governance concerns that warrant closer observation in future filings.

NSIL Shareholders Approve Re-appointment of Two Independent Directors with 79.26% Majority

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Jan 2026, 12:15 PM

Nalwa Sons Investments Limited (NSIL) has announced the results of its postal ballot, confirming the re-appointment of Mr. Kanwaljit Singh Thind and Mrs. Shruti Shrivastava as Independent Directors for second five-year terms. Both special resolutions were passed with 79.26% of the total votes in favor. While promoters and institutional investors supported the resolutions, there was significant dissent from non-institutional public shareholders, with over 99.8% of their cast votes opposing the appointments. The voting process involved 3,873,653 valid votes from a total shareholder base of 38,606.

Re-appointment of Mr. Kanwaljit Singh Thind approved with 3,070,425 votes (79.26%) in favor.
Re-appointment of Mrs. Shruti Shrivastava approved with 3,070,422 votes (79.26%) in favor.
Promoter group provided 100% support for both resolutions with 2,856,391 votes.
High dissent observed in the non-institutional public category, with 773,898+ votes (99.8%) cast against both directors.
Institutional investors supported the resolutions with 87.87% of their votes in favor.

💡 Investors should recognize the continuity in board leadership but remain aware of the high level of retail shareholder dissent, which could signal governance concerns. No immediate portfolio action is required as the management's proposals were legally ratified.

NSIL to Close Trading Window from Jan 1, 2026 for Q3 FY26 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Dec 2025, 11:51 AM

Nalwa Sons Investments Limited (NSIL) has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This routine regulatory measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure is ahead of the declaration of the company's unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges.

Trading window closure effective from Thursday, January 1, 2026.
Closure pertains to the financial results for the quarter and nine months ending December 31, 2025.
The restriction applies to all insiders and designated persons as per SEBI regulations.
Trading window will reopen 48 hours after the announcement of the financial results.
The date for the Board meeting to approve results will be announced separately.

💡 This is a standard regulatory filing with no impact on company fundamentals; investors should wait for the upcoming financial results to assess performance.

NSIL: Postal Ballot for Re-appointment of Independent Directors

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 10 Dec 2025, 04:08 PM

Nalwa Sons Investments Limited (NSIL) is seeking shareholder approval via postal ballot for the re-appointment of Mr. Kanwaljit Singh Thind (DIN: 06969654) and Mrs. Shruti Shrivastava (DIN: 08697973) as Independent Directors for a second term of five consecutive years, effective January 21, 2026, until January 20, 2031. The remote e-voting period will commence on December 11, 2025, at 9:00 a.m. (IST) and end on January 9, 2026, at 5:00 p.m. (IST). Shareholders as of the cut-off date, December 5, 2025, are eligible to vote. The results will be announced on or before January 13, 2026.

Re-appointment of Mr. Kanwaljit Singh Thind (DIN: 06969654) as Independent Director for a second term until January 20, 2031.
Re-appointment of Mrs. Shruti Shrivastava (DIN: 08697973) as Independent Director for a second term until January 20, 2031.
Remote e-voting starts on December 11, 2025, at 9:00 a.m. (IST) and ends on January 9, 2026, at 5:00 p.m. (IST).
Cut-off date for voting eligibility is December 5, 2025.
Results of the postal ballot will be announced on or before January 13, 2026.

💡 Shareholders should review the explanatory statement and cast their votes before the January 9, 2026 deadline. Monitor the company's website and stock exchange announcements for the results of the postal ballot on or before January 13, 2026.

NSIL re-appoints Kanwaljit Singh Thind & Shruti Shrivastava as Independent Directors

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 09 Dec 2025, 05:16 PM

Nalwa Sons Investments Limited (NSIL) has announced the re-appointment of Mr. Kanwaljit Singh Thind (DIN: 06969654) and Mrs. Shruti Shrivastava (DIN: 08697973) as Independent Directors for a second term. The re-appointments are subject to shareholder approval and are effective from January 21, 2026. Both directors will serve for another five consecutive years. This decision follows the recommendation of the Nomination and Remuneration Committee.

Re-appointment of Mr. Kanwaljit Singh Thind (DIN: 06969654) as Independent Director.
Re-appointment of Mrs. Shruti Shrivastava (DIN: 08697973) as Independent Director.
Second term of five consecutive years effective from January 21, 2026.
Mr. Kanwaljit Singh Thind has over 37 years of experience.
Mrs. Shruti Shrivastava has approximately 13 years of experience as a corporate lawyer.

💡 Investors should monitor the shareholder approval process for the re-appointments. No immediate action is required, but stay informed about board composition changes.

NSIL Re-appoints Kanwaljit Singh Thind & Shruti Shrivastava as Independent Directors

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 09 Dec 2025, 05:14 PM

Nalwa Sons Investments Limited (NSIL) has announced the re-appointment of Mr. Kanwaljit Singh Thind (DIN: 06969654) and Mrs. Shruti Shrivastava (DIN: 08697973) as Independent Directors for a second term of five consecutive years. The re-appointments are effective from January 21, 2026, and are subject to shareholder approval. Mr. Thind has over 37 years of experience, while Mrs. Shrivastava has approximately 13 years of experience as a corporate lawyer. Both directors have confirmed they are not debarred from holding office.

Re-appointment of Mr. Kanwaljit Singh Thind (DIN: 06969654) as Independent Director.
Re-appointment of Mrs. Shruti Shrivastava (DIN: 08697973) as Independent Director.
Second term of five consecutive years for both directors, effective January 21, 2026.
Mr. Kanwaljit Singh Thind has over 37 years of experience.
Mrs. Shruti Shrivastava has approximately 13 years of experience.

💡 Investors should note the re-appointment of the independent directors and consider this information when evaluating the company's governance and future performance. Monitor shareholder voting outcomes related to these appointments.

View All NSIL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

For FY2024-25, the Investment & Finance segment generated INR 10,835.81 lakh, while the Trading of Goods segment contributed INR 1,686.60 lakh. In H1 FY2025-26, Investment & Finance revenue was INR 5,819.36 lakh (down 31.15% from INR 8,451.76 lakh in H1 FY2024-25) and Trading of Goods revenue was INR 363.05 lakh (down 75.59% from INR 1,487.57 lakh in H1 FY2024-25).

Profitability Margins

Operating Profit Margin for FY2024-25 was 58.86%, a significant decrease of 38.91% from 96.36% in the previous year. Net Profit Margin was 41.43%, down 41.34% from 70.63% YoY. These declines were primarily driven by a decrease in profit after tax and a simultaneous increase in sales/revenue base.

EBITDA Margin

Operating Profit Margin stood at 58.86% for FY2024-25. Core profitability was impacted by a 26.30% decrease in Return on Net-worth, which fell from 10.02% to 7.39% due to lower profit after tax and an expanded net worth base.

Credit Rating & Borrowing

The company is classified as an NBFC-Middle Layer with total assets of INR 18,561.66 Crore. Specific credit ratings and borrowing interest rates are not disclosed.

⚙️ Operational Drivers

Raw Materials

As an NBFC and investment company, the primary 'raw material' is capital/funds. For the trading segment, specific goods are not named, but the segment generated INR 1,686.60 lakh in FY2024-25.

Capacity Expansion

Not applicable for an investment and trading firm; however, the company manages an asset base of INR 18,561.66 Crore as of March 31, 2025.

Raw Material Costs

Not applicable. Operating expenses include employee benefits of INR 34.08 lakh in H1 FY2025-26 (up 12.77% from INR 30.22 lakh YoY) and other expenses of INR 53.63 lakh.

Manufacturing Efficiency

Not applicable. The company focuses on investment value maximization and prudent leveraging of growth opportunities within the regulatory framework.

📈 Strategic Growth

Growth Strategy

The company aims to achieve growth by developing systems to face global economic challenges and focusing on sustainable growth in its investee companies. Strategy includes maximizing stakeholder value through prudent investment evaluation and leveraging growth opportunities in the competitive NBFC industry while maintaining strict regulatory compliance.

Products & Services

Investment services, financing (NBFC activities), and trading of goods.

Brand Portfolio

Nalwa Sons Investments Limited.

Market Expansion

The company is looking forward to sustainable growth in its investee companies to enhance entrenched value for shareholders.

Strategic Alliances

The company has three subsidiaries (Nalwa Trading Limited, Brahmaputra Capital and Financial Services Limited, Jindal Steel & Alloys Limited) and one associate (Jindal Equipment Leasing and Consultancy Services Limited).

🌍 External Factors

Industry Trends

The NBFC industry is evolving under the RBI's Scale Based Regulation (SBR) framework; NSIL is positioned in the 'Middle Layer' with assets exceeding INR 1,000 Crore. The industry is shifting toward more rigorous internal financial controls and audit trail requirements.

Competitive Landscape

The company faces competition from other NBFCs and financial institutions, though management notes that the primary challenges are economic rather than direct competitor-driven.

Competitive Moat

The company's moat is derived from its significant asset base (INR 18,561.66 Crore) and its strategic holdings in Jindal group-related entities, providing a stable stream of dividend and interest income.

Macro Economic Sensitivity

Highly sensitive to domestic and global economic scenarios which affect the valuation of the investment portfolio and the profitability of investee companies.

Geopolitical Risks

Global economic challenges are identified as a primary risk factor that could offset associated investment risks.

⚖️ Regulatory & Governance

Industry Regulations

Registered as an NBFC under Section 45 IA of the RBI Act, 1934. Complies with the Companies Act, 2013, and SEBI (LODR) Regulations, 2015. Must maintain an audit trail (edit log) for all relevant transactions as per Rule 3(1) of the Companies (Accounts) Rules, 2014.

Taxation Policy Impact

Standalone tax expense for FY2024-25 was INR 1,552.86 lakh on a PBT of INR 5,248.13 lakh, representing an effective tax rate of approximately 29.59%.

Legal Contingencies

The company has pending litigations and tax demands. Auditors identified the assessment of these contingencies as a Key Audit Matter, involving significant management judgment and legal opinions to determine necessary provisions.

⚠️ Risk Analysis

Key Uncertainties

Market volatility affecting 'Net gain on fair value changes' (INR 790.20 lakh in FY2024-25) and potential credit defaults in the NBFC portfolio.

Third Party Dependencies

High dependency on the financial health and dividend-paying capacity of its investee companies.

Technology Obsolescence Risk

The company has implemented accounting software with audit trail features to mitigate risks of data tampering and ensure financial reporting reliability.