Nureca Limited (NURECA)
₹320.85 +0.36% last close, 16 Oct
Q2 FY27 results
📅 Next results: 21 Oct 2026 (board meeting)Nureca Limited's board meets on 21 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Nureca's revenue was ₹40.3 Cr (+18.0% year on year, +13.9% on the previous quarter), and net profit ₹3.1 Cr (+277.2% year on year); the operating margin was 8.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹40.3 | +18.0% | +13.9% |
| Operating profit | ₹3.4 | from loss | from loss |
| Net profit | ₹3.1 | +277.2% | from loss |
| EPS (₹) | 3.21 | +296.3% | from loss |
| Operating margin | 8.5% | — | — |
NURECA exchange data
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📢 Recent Corporate Announcements
Nureca Limited submitted a manual disclosure under Regulation 7(2) of the SEBI PIT Regulations on October 01, 2026. The filing confirms that promoter Saurabh Goyal acquired equity shares of the company. The submission was made manually as an abundant precaution because the transactions were not appearing on the stock exchange platform under the automated system-driven disclosure mechanism.
- Disclosure submitted on October 01, 2026 under SEBI PIT Regulation 7(2)
- Transactions undertaken by promoter Mr. Saurabh Goyal
- Filing made manually due to non-appearance on automated system-driven reporting
- Current promoter holding stands at 68.09% as of June 2026
Nureca Limited submitted a manual disclosure under Regulation 7(2) of the SEBI PIT Regulations regarding share acquisitions by promoter Mr. Saurabh Goyal. The company noted that while these trades fall under the automated system-driven disclosure mechanism, certain transactions failed to reflect on the stock exchange platform automatically. The manual submission was made as an abundant precaution to place the acquisitions on record. Specific transaction volumes and transaction values were not detailed in the cover letter.
- Promoter Saurabh Goyal acquired equity shares of Nureca Limited
- Filing made under SEBI PIT Regulation 7(2) dated September 30, 2026
- Manual disclosure submitted because trades failed to reflect on the automated exchange platform
- Specific share quantity and transaction value were not disclosed in the filing cover
Nureca Limited submitted a manual disclosure under Regulation 7(2) of the SEBI Prohibition of Insider Trading Regulations on September 29, 2026. The filing notes that promoter Saurabh Goyal acquired shares of the company, but the transactions failed to appear on the exchange platform via the automated system-driven mechanism. Exact share volumes and acquisition prices were not detailed in the cover letter. Promoters currently hold 68.09% of the company's equity as of June 2026.
- Promoter Saurabh Goyal acquired equity shares of Nureca Limited
- Filing made manually under SEBI PIT Regulation 7(2) due to an issue with the automated system-driven disclosure platform
- Total promoter holding stood at 68.09% as of the June 2026 quarter
- Filing dated September 29, 2026
Nureca Limited submitted a manual disclosure under Regulation 7(2) of SEBI PIT Regulations on September 28, 2026. The filing notes that promoter Saurabh Goyal has acquired/purchased equity shares of the company. The submission was filed manually as an abundant precaution because the transactions were not appearing under the automated system-driven disclosure mechanism. Specific transaction details, such as the exact number of shares and monetary value, were not disclosed in the cover letter.
- Disclosure filed under SEBI PIT Regulation 7(2) on September 28, 2026
- Promoter Saurabh Goyal purchased/acquired equity shares of the company
- Manual submission made due to transactions missing from the automated system-driven mechanism
- Promoter group already held 68.09% of company equity as of June 2026
Nureca Limited has submitted a disclosure under SEBI PIT Regulation 7(2) regarding the acquisition of equity shares by promoter Mr. Saurabh Goyal. The manual disclosure was submitted as an abundant precaution because the transactions were not appearing on the stock exchange system-driven platform. Specific transaction details such as the exact share volume, transaction price, and total monetary value were not disclosed in the cover filing.
- Disclosure filed on September 26, 2026, under Regulation 7(2) of SEBI PIT Regulations
- Shares purchased by Designated Person and Promoter, Mr. Saurabh Goyal
- Cover letter notes transactions failed to appear on system-driven automated reporting
- Specific share quantity and transaction value were not disclosed in the cover text
Nureca Limited submitted manual insider trading disclosures under SEBI PIT Regulation 7(2) regarding open-market share purchases by promoter Mr. Saurabh Goyal. The company noted that transactions executed on September 10, 2026, and thereafter failed to appear on exchange platforms under automated system-driven disclosures, prompting this precautionary filing. Specific quantities, share prices, and total transaction values were not disclosed in this covering letter.
- Promoter Saurabh Goyal acquired equity shares starting 10 September 2026 and on subsequent dates
- Filing submitted manually under Regulation 7(2) due to failure of system-driven disclosures to reflect on the exchange
- Promoter holding stood at 68.09% as of the June 2026 shareholding pattern
- Specific volume and monetary value of shares bought were not disclosed in the covering letter
Nureca Limited submitted an insider trading disclosure under SEBI PIT Regulation 7(2) on September 10, 2026. The filing confirms that Ms. Smita Goyal, a member of the Promoter Group, acquired shares of the company. Detailed transaction parameters such as the exact volume, transaction price, and total value were not disclosed in the text extract. As of June 2026, promoter holding stood at 68.09%.
- Disclosure submitted under Regulation 7(2) read with Regulation 6(2) of SEBI PIT Regulations
- Transaction involves acquisition of shares by Promoter Group member Ms. Smita Goyal
- Filing dated September 10, 2026
- Total shares acquired and consideration value were not disclosed in the excerpt
Nureca Limited submitted an insider trading disclosure under SEBI PIT Regulation 7(2) on September 09, 2026. The filing notes that Ms. Smita Goyal, a member of the promoter group, has acquired shares of the company. Specific transaction details, including share quantity and monetary value, were not itemized in the cover letter text. Promoter holding as of June 2026 stood at 68.09% against a current market capitalization of ₹332 Cr.
- Disclosure submitted under Regulation 7(2) of SEBI PIT Regulations on September 09, 2026
- Acquisition made by Ms. Smita Goyal, identified as a member of the Promoter Group
- Company market cap stands at ₹332 Cr with existing promoter holding of 68.09% as of June 2026
- Exact quantity, price, and trade value not disclosed in the provided letter
Nureca Limited has submitted a manual disclosure under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015, following a share purchase by a designated person. The manual filing was made as an abundant precaution because the transaction was not captured by the stock exchanges' automated system-driven disclosure mechanism. Specific details regarding the number of shares and transaction value were not detailed in the cover letter. Nureca has a market cap of ₹329 Cr and promoter holding stood at 68.09% as of June 2026.
- Disclosure filed under SEBI PIT Regulation 7(2) on August 29, 2026
- Share purchase executed by a designated person of the company
- Manual disclosure triggered due to technical glitch in automated exchange system-driven disclosure
- Current promoter holding stands at 68.09% as of June 2026
Nureca Limited has received a Final Order of Rectification under Section 161 of the CGST Act, 2017, regarding pending tax proceedings for the period 2021-22. The matter has been formally disposed of upon payment/reversal of Input Tax Credit (ITC) amounting to Rs 15,40,311 (Rs 0.15 crore). Consequently, the original GST demand raised via DRC-07 has been dropped by the authorities. The total financial impact is negligible relative to Nureca's TTM revenue of Rs 153 crore.
- Matter disposed of upon reversal of Input Tax Credit (ITC) of Rs. 15,40,311
- Final rectification order under Section 161 of CGST Act received on 06th August, 2026
- Pertains to the historical tax period 2021-22
- Earlier tax demand raised under DRC-07 has been dropped by GST authorities
Nureca Limited has issued a manual disclosure under SEBI (Prohibition of Insider Trading) Regulations on August 11, 2026, regarding share acquisitions by a designated person. The company noted that while the transaction is correctly reflected on the depository portal, it has not yet appeared in the stock exchange's automated system-driven disclosure mechanism. This manual filing serves as a precautionary measure to ensure regulatory compliance despite the technical glitch at the exchange level. Investors should note that insider buying typically signals management confidence, though the specific volume was not detailed in this cover letter.
- Manual disclosure filed under Regulation 7(2) of SEBI (PIT) Regulations on August 11, 2026.
- Transaction involves the acquisition of shares by a designated person of the company.
- Automated system-driven disclosure mechanism failed to capture the transaction despite depository portal entry.
- Company is actively coordinating with BSE and NSE to resolve the technical non-reflection.
- Promoter holding stood at 68.09% as of the June 2026 quarter.
Nureca Limited has received a Final Order of Rectification under Section 161 of the CGST Act, 2017, regarding a tax dispute for the period 2021-22. The matter has been settled through the reversal of Input Tax Credit (ITC) amounting to Rs 15,40,311. This resolution concludes the litigation with no further demands from the tax authorities. While the settlement amount is approximately 7.5% of the company's TTM PAT of Rs 2 crore, it represents only 0.1% of TTM revenue, making it non-material to overall operations.
- Final Order received under Section 161 of the CGST Act, 2017 for the 2021-22 tax period
- Settlement reached via reversal of Input Tax Credit (ITC) totaling Rs 15,40,311
- Matter officially concluded and disposed of with no further tax demands
- Settlement amount represents approximately 7.5% of the TTM Net Profit of Rs 2 crore
Nureca Limited concluded its 10th Annual General Meeting on July 28, 2026, transacting four key resolutions including the adoption of FY26 financial statements. Shareholders considered the re-appointment of Mr. Saurabh Goyal as Managing Director for a three-year term and the appointment of Ms. Smita Goyal as Whole-time Director. The statutory auditors, M/s Singhi & Co., provided an unqualified opinion on the FY26 financials. This meeting occurs as the company manages a TTM revenue of ₹147 Cr with a thin net profit of ₹2 Cr.
- Re-appointment of Mr. Saurabh Goyal as Managing Director for a 3-year tenure
- Adoption of Standalone and Consolidated Financial Statements for the year ended March 31, 2026
- Statutory Auditors expressed an unqualified opinion for the FY26 audit report
- Appointment of Ms. Smita Goyal as Whole-time Director via Special Resolution
- Meeting conducted via Video Conferencing with a quorum present as per regulatory requirements
Nureca Limited conducted its 10th Annual General Meeting on July 28, 2026, focusing on leadership continuity and financial reporting. Key resolutions included the re-appointment of Mr. Saurabh Goyal as Managing Director for a three-year term and the appointment of Ms. Smita Goyal as a Whole-time Director. The company adopted its FY26 financial statements, which received an unqualified opinion from statutory auditors. Despite a high P/E of 158.3, the company maintains a strong promoter holding of 68.1% and a low debt-to-equity ratio of 0.01.
- Re-appointment of Mr. Saurabh Goyal as Managing Director for a fixed term of 3 years
- Adoption of Standalone and Consolidated Financial Statements for the year ended March 31, 2026
- Appointment of Ms. Smita Goyal as a Whole-time Director via Special Resolution
- Statutory Auditors M/s Singhi & Co. expressed an unqualified opinion on FY26 financials
- Meeting concluded within 48 minutes, including the e-voting window
Nureca reported a strong operational turnaround in Q1 FY27, achieving its highest quarterly revenue in four years at ₹40.3 Cr, an 18% YoY increase. The company returned to profitability with a PAT of ₹3.1 Cr, recovering from a ₹6.09 Cr loss in the preceding quarter (Mar 2026). A key highlight is the company's liquidity, with ₹110 Cr in net cash and investments, which represents approximately 37% of its current market capitalization of ₹299 Cr. The shift toward in-house manufacturing is progressing, now contributing 27% of total revenue.
- Revenue of ₹40.3 Cr represents a 14% QoQ and 18% YoY growth, the highest since Q4 FY22.
- PAT turned positive at ₹3.1 Cr compared to a loss of ₹6.09 Cr in Q4 FY26.
- Net cash and investments stand at ₹110 Cr, providing a significant valuation floor relative to the ₹299 Cr market cap.
- In-house manufacturing contribution reached 27% of revenue in Q1 FY27, up from 26% in FY26.
- Dr Trust 360 app user base expanded to 2.4 million users, strengthening the digital health ecosystem.
Financial Performance
Revenue Growth by Segment
The company operates as a digital-first healthcare entity with over 93% of revenue generated through online sales. Standalone revenue from operations grew 21.28% YoY to INR 1,146.40 Mn in FY25 compared to INR 945.21 Mn in FY24. In Q2 FY26, revenue reached INR 528 Mn, representing a 7% YoY growth from INR 493 Mn in Q2 FY25.
Geographic Revenue Split
While specific regional percentages are not disclosed, the company maintains a registered office in Mumbai and a correspondence office in Chandigarh. Sourcing and management activities are indicated in Guangzhou, China, where directors signed financial statements on May 05, 2025.
Profitability Margins
Profitability has shown a significant turnaround. The standalone loss before tax narrowed by 85.9% from INR 32.69 Mn in FY24 to INR 4.60 Mn in FY25. By H1 FY26, the consolidated PAT margin reached 10%, a substantial recovery from the negative margins in previous fiscal years.
EBITDA Margin
The consolidated EBITDA margin stood at 24% for H1 FY26. This reflects a strong recovery in core profitability compared to the -1% EBITDA margin reported in FY24 and 0% in FY25, driven by better cost management and higher sales volumes.
Capital Expenditure
Nureca follows an asset-light business model. Fixed assets were reported at INR 8.3 Crore in H1 FY26, showing a slight increase from INR 4.0 Crore in FY25. This low CAPEX requirement allows the company to remain debt-free while scaling operations.
Credit Rating & Borrowing
The company is debt-free as of H1 FY26. Finance costs for FY25 were INR 11.15 Mn, up from INR 4.60 Mn in FY24, primarily related to lease liabilities or short-term working capital requirements rather than long-term debt.
Operational Drivers
Raw Materials
As an asset-light company, the primary cost is 'Purchase of stock-in-trade' (finished medical and healthcare devices), which accounted for INR 864.89 Mn in FY25, representing 75.4% of total revenue.
Import Sources
The company likely sources finished goods from China, as evidenced by the presence of the Managing Director and CEO in Guangzhou, China, for the signing of the FY25 financial statements.
Key Suppliers
Specific supplier names are not disclosed, but the company relies on third-party manufacturers for its 'Dr Trust' and other branded healthcare products to maintain its asset-light status.
Capacity Expansion
Current capacity is not measured in MT/MW as the company is a digital-first brand aggregator. Expansion is focused on product portfolio breadth rather than manufacturing plants.
Raw Material Costs
Purchase of stock-in-trade increased 36.8% YoY to INR 864.89 Mn in FY25. This cost represents the largest operational outflow, making margins highly sensitive to procurement pricing and import duties.
Manufacturing Efficiency
Efficiency is measured by inventory and debtor management rather than plant utilization. The Debtor Turnover Ratio is highly efficient at 15.3 days in H1 FY26, reflecting the cash-and-carry nature of online retail.
Logistics & Distribution
Distribution is primarily handled through e-commerce marketplaces. Other expenses, which include logistics and marketing, rose 13.4% to INR 303.31 Mn in FY25.
Strategic Growth
Expected Growth Rate
7-21%
Growth Strategy
Growth is driven by a 'Digital First' strategy focusing on high-growth online healthcare segments. The company is optimizing its portfolio by striking off non-performing subsidiaries like Nureca Healthcare Private Limited (Dec 2025) and utilizing a buyback of 5,80,000 shares to improve shareholder value and signal management confidence.
Products & Services
The company sells world-class healthcare solutions including medical devices, wellness products, and advanced technology-integrated healthcare monitors.
Brand Portfolio
Dr Trust is the primary brand mentioned in the corporate vision and investor communications.
New Products/Services
The company is focusing on 'cutting-edge technology' and 'personalized care' solutions, though specific revenue contribution percentages for new launches in FY26 are not itemized.
Market Expansion
The company aims to be a 'global leader in healthcare innovation,' suggesting plans to expand its digital footprint beyond the Indian market into international e-commerce territories.
Strategic Alliances
No specific JVs or partner names were disclosed in the provided documents for the FY25-26 period.
External Factors
Industry Trends
The home healthcare industry is growing rapidly due to increased health awareness. Nureca is positioned as a digital-first mover, benefiting from the shift from traditional retail to online healthcare shopping.
Competitive Landscape
The company competes with both traditional medical device manufacturers and new-age D2C wellness brands in the digital space.
Competitive Moat
The moat is built on brand equity (Dr Trust) and a lean, asset-light distribution model. This is sustainable as long as the company maintains high quality-control standards and high ratings on e-commerce platforms.
Macro Economic Sensitivity
Highly sensitive to consumer discretionary spending and healthcare inflation. A slowdown in urban consumption would directly impact the demand for premium home-healthcare devices.
Consumer Behavior
There is a visible shift toward proactive health monitoring at home, which supports the company's core product categories like blood pressure and glucose monitors.
Geopolitical Risks
Trade barriers or import restrictions on medical electronics from China could significantly disrupt the supply chain, as key management operates from Guangzhou.
Regulatory & Governance
Industry Regulations
Operations are subject to CDSCO (Central Drugs Standard Control Organisation) standards for medical devices and Legal Metrology rules for packaged commodities.
Environmental Compliance
ESG compliance costs are not specifically itemized in the financial statements.
Taxation Policy Impact
The company reported a standalone tax expense of zero for FY25 due to the loss before tax of INR 4.60 Mn.
Legal Contingencies
The auditors noted no instances of significant fraud. There are no specific high-value pending court cases or tribunal disputes mentioned in the provided financial summaries.
Risk Analysis
Key Uncertainties
The primary uncertainty is the sustainability of high margins if competition intensifies on major e-commerce platforms, potentially impacting margins by 5-10%.
Geographic Concentration Risk
Revenue is concentrated in the Indian market via online channels, while the supply chain is concentrated in China.
Third Party Dependencies
High dependency on third-party logistics and e-commerce platforms for the delivery of products to end customers.
Technology Obsolescence Risk
The company faces the risk of rapid technological changes in medical sensors; failure to upgrade the 'Dr Trust' app or device tech could lead to market share loss.
Credit & Counterparty Risk
Credit risk is low as evidenced by the Debtor Turnover Ratio of 15.3 days, indicating that most sales are prepaid or settled quickly by marketplaces.
