NIBE slides after Q1 PAT slumps 76% YoY to Rs 2 cr
Revenue from operations fell 25.04% to Rs 82.50 crore in Q1 FY26, down from Rs 110.06 crore in the same quarter last year.
Profit before tax (PBT) declined 83.63% to Rs 1.79 crore in Q1 FY26, as against Rs 10.94 crore posted in Q1 FY25.
Meanwhile, the company noted the resignation of Ranjan Choudhary, chief executive officer (CEO), effective from 12 August 2025, due to internal reorganization within the group.
Further, the board has approved the appointment of Prakash Khose as the new CEO of the company, effective from 12 August 2025.
NIBE operates in manufacturing critical components for the defence sector, electric vehicles (E-Vehicles), and software development. The company is engaged in fabrication and machining of components used in the defence sector, as well as assembly of components for E-Vehicles.
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Indian Express
2 minutes ago
- Indian Express
North Block is leaving the building, with files, stationery and nostalgia
In its 94-year existence, North Block has seen a lot. It was the seat of power of the colonial British government, the site of spontaneous celebrations when India became Independent in 1947, and, ever since, has been a witness to successive governments shaping policy for the nation. These days, however, the corridors of the building are nearly deserted, with sections roped off, and locks hanging on doors that till recently hid a flurry of activity. The building is in the process of being emptied as part of the government's plan to redevelop the Central Vista area – the stretch from India Gate to Rashtrapati Bhawan. North Block now is to be repurposed as a museum, with key ministries that have operated out of it since 1931 when its construction finished – including Union Ministries of Home Affairs and Finance, and the Department of Personnel and Training (DoPT) – to be moved to a set of 'Kartavya Bhawan' buildings down the road. However, the work of shifting a government can't be hurried up. And in this case is being coordinated by a ministry – Housing and Urban Affairs, which is also spearheading the Central Vista redevelopment. Other ministries have appointed a nodal officer each for the exercise, which began around a month ago. Under their watch, files are being sorted into marked boxes, computers are being packed, and office supplies are going into cardboard containers. Artwork, including many, many photographs of Mahatma Gandhi, is being bubble-wrapped. The packing is being done by office staff, aided by a team of workers hired for the job. Once packed, the boxes are carried by workers down the stairs to a side entrance, and loaded onto tempos and government cars. These then cover the short distance to the new address. An official working in North Block says the move has been fairly smooth so far, particularly when it comes to files, given that nearly all, save the sensitive ones, are now on the government's E-Office portal. Officials in the know say the DoPT has almost entirely moved out. Jitendra Singh, the Minister of State for Prime Ministers' Office, Science and Technology and Personnel, is expected to shift soon, sources said. The Home Ministry has been allotted Kartavya Bhawan 3, and Union Home Secretary Govind Mohan and the Intelligence Bureau were some of the first ones to shift. According to sources, the shifting of some offices to KB3, as the building is referred to, began before its formal inauguration by Prime Minister Narendra Modi on August 6. The Finance Ministry, however, is yet to begin shifting. An officer in the middle of shifting says: 'I'm soaking in the last few days at this building. Many of my former colleagues who have worked here have been dropping by to see the offices one last time.' Like the South Block that stands across it, North Block, designed by British architect Herbert Baker in red sandstone, incorporating Indian features like jaali, chajja and chhattri, is as much a regal structure as a functional one, with plenty of light and ventilation. The new buildings, in comparison, look like any modern corporate office, with glass cabins for officers, open plan seating for most employees and access-control systems. Offices in the South Block, which houses the Prime Minister's Office and the Ministries of Defence and External Affairs, have not started moving out yet. Once both the buildings are emptied, they are to be restored and refurbished, before reopening as Yuge Yugeen National Museum. The government claims it will be the largest museum in the world. The 'charm' of North Block is what those who have worked here keep coming back to in conversations. G K Pillai, who spent seven years in North Block, first as Joint Secretary from 1996 to 2001 and then as Union Home Secretary from 2009 to 2011, recalls the sense of history that permeates the rooms. 'Stalwarts, including Sardar Vallabhbhai Patel, worked here. Old-timers would tell us about important meetings that took place in the past,' Pillai, who is now retired, says. The former IAS officer adds that he personally believes that not all the ministries from North Block and South Block should have been shifted to the new quarters. 'Some of them could have stayed. The next generation of officers will lose that sense of history,' says Pillai. Durga Shanker Mishra, a 1984-batch IAS officer who retired as Uttar Pradesh Chief Secretary last year, recalls his time in a ground-floor North Block office as Director (Personnel) in the Home Ministry in 2002-2004. 'I have good memories of that office. Though I was a director in Home, I had been given a room on the Finance Ministry's side. It was a well-sized room.' However, Mishra says: 'As is the case with old buildings, there were challenges. It needed more maintenance over the years.' As Secretary, Housing and Urban Affairs, Mishra was, in fact, part of the deliberations when the Central Vista project was planned and started. He says the new Central Secretariat buildings will change the way the government works, in terms of efficiency and coordination. In fact, while senior officers – who along with ministers had large airy offices – are understandably nostalgic about the high-ceilinged large rooms that they are leaving behind, not all in the North Block will regret the change. A majority of its employees worked in cramped spaces, with partitions created within dingy rooms to accommodate more officials over the years. Mezzanine levels were also added to create space, with the temporary additions doubling the number of rooms in both North and South Blocks over the years. A section official says: 'We are looking forward to the new building. I've heard that the canteen is very nice.' But true to form, the open-plan layout of the new Secretariat also has its share of detractors. On August 5, the Central Secretariat Service Forum, which represents around 13,000 employees, wrote a letter to the Prime Minister's Office expressing concerns about 'the lack of privacy and confidentiality' in the new arrangement.
Time of India
6 minutes ago
- Time of India
Nitin Gadkari promises single-digit logistics cost in India by 2026
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. Union Minister of Road Transport and Highways, Nitin Gadkari , on Sunday affirmed that India's logistics cost will come down to single-digit by the end of logistics cost of India is 14-16 per cent, China's is 8 per cent, and Europe and America have 12 per cent each, Gadkari said, addressing the event in the national capital that marked the inauguration of two major National Highway projects by Prime Minister Narendra Modi."I want to assure the Prime Minister and all of you that before the end of 2026, the logistics cost of our country will come in the single digits, which will be very important for our exports. We will become even more competitive," the Minister said. Prime Minister Modi today inaugurated two major National Highway projects worth a combined cost of nearly ₹11,000 projects -- the Delhi section of the Dwarka Expressway and the Urban Extension Road-II (UER-II) -- have been developed under the Government's comprehensive plan to decongest the capital, with the objective of greatly improving connectivity, cutting travel time, and reducing traffic in Delhi and its surrounding 10.1 km long Delhi section of Dwarka Expressway has been developed at a cost of around Rs. 5,360 crore. The section will also provide Multi-modal connectivity to Yashobhoomi, DMRC Blue line and Orange line, the upcoming Bijwasan railway station and the Dwarka cluster Bus Depot. This section comprises:The Prime Minister earlier inaugurated the 19 km long Haryana section of the Dwarka Expressway in March Minister also inaugurated the Alipur to Dichaon Kalan stretch of Urban Extension Road-II (UER-II) along with new links to Bahadurgarh and Sonipat, built at a cost of around ₹5,580 will ease traffic on Delhi's Inner and Outer Ring Roads and busy points like Mukarba Chowk, Dhaula Kuan, and NH-09. The new spurs will provide direct access to Bahadurgarh and Sonipat, enhance industrial connectivity, reduce city traffic, and expedite goods movement in the NCR.... With both these projects, the people of Delhi NCR will get great relief from traffic jams. If I say that the problem of 50 per cent traffic jam in Delhi will be reduced due to these highways, I think it will not be surprising," Union Minister Gadkari said.
News18
27 minutes ago
- News18
Arunachal's agri-allied sector witnessing rapid growth: Khandu
Itanagar, Aug 17 (PTI) Arunachal Pradesh Chief Minister Pema Khandu on Sunday said the state's agriculture and allied sector is moving on a fast track of growth and transformation, with farmers steadily shifting towards higher productivity, sustainability and prosperity. Khandu, in a post on X, said an amount of Rs 142.67 crore has been directly transferred to 99,656 farmers under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme. 'This direct financial support has strengthened the confidence of our farmers and helped them invest more in their fields," he said. The chief minister also highlighted that 1,02,295 farmers have been provided with soil health cards, enabling them to understand soil conditions and adopt scientific farming practices. 'Healthy soil is the foundation of healthy crops, and we are ensuring our farmers get the right knowledge to use their land sustainably," he said. On irrigation, Khandu said that under the PM-Per Drop More Crop programme, 26,163 hectares of farmland have been covered and 5,658 farmers benefited through efficient micro-irrigation facilities. The CM also underlined the state's push for organic farming. He said 15,099 farmers have been supported under the Mission Organic Value Chain Development project, with Rs 23.25 crore released to promote chemical-free cultivation. 'Organic farming is not only eco-friendly, but also enhances the market value of our produce," he said. Khandu added that 96,492 Kisan Credit Cards (KCCs) have been issued, achieving 99.26 percent saturation in the state. 'This ensures that almost every eligible farmer now has timely access to credit, removing dependency on informal sources," he noted. To modernise farm practices, the government has also distributed 42,418 modern farm tools over the last nine years. 'Tools and technology are empowering our farmers to increase productivity and reduce manual drudgery," Khandu said. 'From credit to crops, tools to technology, Arunachal's farmers are moving towards higher productivity, sustainability, and prosperity," the chief minister said. PTI UPL RBT view comments First Published: August 17, 2025, 17:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
