National Standard (India) Ltd

Meeting Details

• Board meeting scheduled for Thursday, October 22, 2026.

Key Agenda Items

• Consider and approve the unaudited financial results for Q2 and H1 ended Sep 30, 2026.

Other Notes

• Trading window closed from October 1, 2026 until 48 hours after results declaration.

National Standard (India) Limited: Trading Window closed from October 1, 2026 till the expiry of 48 hours after declaration of the Un-audited financial results of the Company for the quarter and half year ended September 30, 2026

AGM Details

• 63rd AGM held on 28 Aug 2026 at 3:00 PM IST via VC/OAVM.
• Record date for voting: 21 Aug 2026.
• Attendance: 30 members via VC/OAVM.

Resolutions and outcomes

• Resolution 1: Adopt Audited Financial Statements — Passed.
• Resolution 2: Re-appoint Kurian Arimpur by rotation — Passed.
• Resolution 3: Appoint Walker Chandiok & Co LLP as Statutory Auditors — Passed.
• Resolution 4: Appoint Vikas Jain as Non-Executive Non-Independent Director — Passed.
• Resolution 5: Appoint Sanjay Bahad as Non-Executive Independent Director — Passed.
• Resolution 6: Re-appoint Ritika Bhalla as Non-Executive Independent Director — Passed.
• Resolution 7: Approve Material Related Party Transactions with Cowtown Infotech Services Limited — Passed.

Governance changes

• Directors: Kurian Arimpur reappointed; Sanjay Bahad appointed; Ritika Bhalla re-appointed.
• Auditors: Walker Chandiok & Co LLP appointed as Statutory Auditors.

Material related party transactions

• Material RPT with Cowtown Infotech Services Limited approved.

Disposal and holdings

• Target: National Standard (India) Ltd.
• Disclosing parties: Narinder Pal Singh Shinh (Seller); Gurpreet Kaur Shinh (PAC-Spouse); Manita Shinh (PAC-Daughter); Harsimran Shinh (PAC-Daughter).
• Promoter status: None of the disclosing parties belong to Promoter/Promoter group.
• Transaction type: Sale of 506,685 NSIL shares (2.53%).
• Mode: Open Market; Date: 18 August 2026.
• Pre-transaction holdings: Seller 936,062 shares (4.68%); PAC spouse 1,360,282 (6.80%); PAC daughters 122,500 (0.61%); PAC daughter 145 (0.00%).
• Total pre-transaction holdings: 2,418,989 shares (12.09%).
• Post-transaction: Seller 429,377 shares (2.15%).
• Post-transaction: PAC spouse post-holding 1,360,282 shares (6.80%).
• Post-transaction: PAC daughters post-holding 122,500 shares (0.61%); PAC daughter 145 (0.00%).
• Total post-transaction holdings: 1,912,304 shares (9.56%).
• Equity capital before/after: 2,000,000 shares.
• Total diluted capital after: 2,000,000 shares.

Financial performance

• Revenue from operations: 2,041.81 lakh for FY2025-26.
• Total income: 3,995.77 lakh.
• Profit before tax: 1,327.93 lakh.
• Tax expense: 362.04 lakh.
• Profit after tax: 965.89 lakh.
• Earnings per share: ₹4.83 (basic/diluted).
• Dividend: No dividend declared.
• Net worth: 28,199.54 lakh.
• Total assets: 28,486.68 lakh.
• Borrowings: No borrowings.
• Cash and cash equivalents: 1,171.50 lakh.
• Revenue declined YoY to 2,041.81 lakh from 2,232.97.
• Real estate project completed in 2018; no ongoing project.

Capital structure & liquidity

• Share capital remains at ₹2,000.00 lakh.
• Holding company Lodha Developers Limited holds 73.94%.
• Cash/bank balances: ₹20.56 lakh; fixed deposits: ₹1,150.95 lakh.
• Total cash at year-end: ₹1,171.50 lakh.
• Company has no borrowings; funded via internal accruals.
• Current ratio: 96.91 as at 31-Mar-2026.
• Net worth: ₹28,199.54 lakh; total assets: ₹28,486.68 lakh.

Corporate actions & governance

• Merger by absorption with Lodha Developers Limited filed with NCLT on 11-Jun-2026.
• Board to seek shareholder approvals for merger plan.
• Vikas Jain appointed Additional Director from 6-Jul-2026.
• Sanjay Bahad appointed Independent Director for five years from 6-Jul-2026.
• Ritika Bhalla reappointed Independent Director from 12-Jul-2027 to 11-Jul-2032.
• Kurian Arimpur retires by rotation; re-appointment recommended.
• Ms Smita Ghag resigned 6-Nov-2025; Bhushan Shah and Vinod Shah terms ended in 2026.
• Board size six; one woman independent director (Ritika Bhalla).

Related party transactions

• Material RPT with Cowtown Infotech Services Limited; aggregate up to ₹75 crore.
• Cowtown sale of building materials; ₹1,930.51 lakh in FY2025-26.
• Lodha sale of building materials; ₹109.90 lakh in FY2025-26.
• Loans/advances to Cowtown up to ₹50 crore; at SBI FD rate.
• Cowtown is fellow subsidiary; 100% owned by Lodha Developers Limited.
• RPTs are at arm's length and in ordinary course.
• Audit Committee reviews RPTs; board approvals as required.

Audit & governance

• Walker Chandiok & Co LLP appointed as Statutory Auditors for five years (2026-2031).
• Remuneration proposed: ₹5.0 lakh per annum; FY26 remuneration for retiring auditors ₹7.5 lakh.
• MSKA & Associates LLP were the retiring auditors; new appointment recommended.
• Secretarial audit: Shravan A. Gupta & Associates; no qualifications.
• Board meetings held: Five in FY2025-26; attendance high.
• Annexure V certificate on Corporate Governance; compliance confirmed.

Board changes & governance

• Vikas Jain appointed Additional Director (Non-Executive, Non-Independent) from 6-Jul-2026.
• Sanjay Bahad appointed Independent Director for five years from 6-Jul-2026.
• Ritika Bhalla appointed as Independent Director for second term (2027-2032).
• Kurian Arimpur retires by rotation; re-appointment recommended.
• Directors include one woman Independent Director; board has six members.
• Cessations: Bhushan Shah and Vinod Shah concluded terms in 2026.

CSR & ESG

• CSR applicability confirmed; CSR spend in FY2025-26: ₹50.00 lakh.
• CSR policy available on the company website.
• Average net profit for CSR: ₹1,674.51 lakh; 2% equals ₹33.49 lakh.
• Net CSR obligation for 2025-26: ₹11.45 lakh; set-off carried ₹38.55 lakh.
• CSR focus areas include health, education, environment; governance by CSR Committee.
• Board oversight and disclosure of CSR expenditure per policy.

AGM Details

• 63rd AGM scheduled for 28 August 2026 at 3:00 PM IST via VC/OAVM.

Key Resolutions

• Re-appoint independent director for a second five-year term, July 12, 2027–July 11, 2032, subject to member approval.

Other Material Approvals

• Scheme of merger with holding company filed with NCLT Mumbai; awaiting approval.

Cessation of Independent Director

• Vinod Shah to cease as Independent Director from close of business hours July 19, 2026 for term completion.