NIBE approves acquisition, names new CFO amid Q2 loss

NIBE Limited’s board of directors, at its meeting on November 12, 2025, approved the unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2025. The board also approved the acquisition of a 48.95% shareholding in Nibe Meson Naval Limited from Quest Flow Controls Limited for ₹10 per share. This acquisition aims to achieve full management control and strategic flexibility, with completion expected by November 30, 2025. Nibe Meson Naval Limited, incorporated on January 1, 2024, manufactures and supplies fluid control equipment and systems.

In leadership changes, Rajesh Khatri resigned as chief financial officer and key managerial personnel effective November 12, 2025, due to personal reasons. Concurrently, the board approved the appointment of Jigar Shah as the new chief financial officer. Shah is a chartered accountant with over 28 years of experience in infrastructure project development.

The consolidated financial results show a net loss after tax of (₹968.76) for the second quarter ended September 30, 2025, compared to a net profit of ₹104.26 in the previous quarter. The standalone results reported a net loss after tax of (₹492.75) for the same period, against a net profit of ₹389.03 in the prior quarter.