26, compared with 7.1% in FY2024-25. Real GVA growth is estimated at 7.9%, compared with 7.3% in the previous year. Nominal GDP is estimated to have increased by 8.9% to 346.36 lakh crore. The data indicate that domestic economic activity remained robust despite the uncertain global environment.
This resilience provides a supportive backdrop for infrastructure-linked industries. However, the strength of Indias overall GDP growth needs to be viewed alongside the sector-specific and seasonal factors that influence road construction and consequently bitumen consumption.
Source:
Public infrastructure investment continued to provide an important structural demand driver for the Indian economy. Under the Union Budget 2026-27, the Ministry of Road Transport and Highways has been provided a total financial outlay of approximately 3,09,291.77 crore. The Government has set an output target of constructing 10,000 km of National Highways during FY2026-27, alongside a target of reaching 6,000 km of cumulative operational high-speed corridors on National Highways.
Continued public investment in highways, road development and related infrastructure provides a structural foundation for demand across the road-construction value chain. For us, this remains particularly relevant because bitumen is principally consumed in road construction and maintenance. The long-term infrastructure pipeline therefore provides a supportive demand environment even though actual offtake can vary across quarters depending on project execution, weather conditions and procurement cycles.
Source: Government of India - Outcome Budget 2026-27, Ministry of Road Transport and Highways 6,000 km of cumulative operational high-speed corridors on National Highways:
A critical feature of Indias economic environment is the countrys high dependence on imported crude oil. According to Government of India data based on Petroleum Planning & Analysis Cell (PPAC), Indias crude-oil import dependence stood at 88.6% during April-January FY2025-26, compared with 88.2% in the corresponding period of FY2024-25. During the same period, India imported approximately 206.3 million tonnes of crude oil, of which 46.9% originated from the Middle East. Eurasia accounted for 34.6% and Northern America for 7.2% of crude imports during the period.
This dependence creates an important transmission channel between international energy markets and the Indian economy. Changes in global crude prices can influence Indias import bill, domestic fuel and transportation costs, inflation and the external balance. The concentration of a substantial portion of crude imports in the Middle East also means that geopolitical disruptions affecting major production centres or shipping routes can have a direct bearing on Indias energy-supply economics.
Source: Government of India - Monthly Economic Review, February 2026
Indias high dependence on imported crude oil also leaves the domestic economy sensitive to movements in international energy prices. The Indian Basket of Crude Oil, which averaged around US$69 per barrel in February 2026, rose sharply following the escalation of the West Asia conflict towards the end of the financial year. The Indian crude basket averaged US$112.39 per barrel in March 2026, representing a 62.9% increase over February and a 55.1% increase over March 2025. The significance of this movement for India is amplified by its high crude-oil import dependence. The Department of Economic Affairs has noted that a 10% increase in crude prices, assuming full pass-through, could increase Indias inflation by approximately 30 basis points.
For petroleum-linked industries, the transmission is more direct. Changes in crude prices influence refinery economics and the pricing of petroleum-derived products, while geopolitical disruption to shipping routes can simultaneously affect freight, insurance, availability and landed costs. The sharp movement in crude prices during March 2026 therefore represented not merely a global commodity event, but a material change in the operating environment for Indias import-dependent petroleum value chain.
Source:
2025 southwest monsoon arrived earlier than its normal schedule, reaching Kerala on 24 May 2025, compared with the normal onset date of 1 June, and covered the entire country by 27June. Seasonal rainfall during June-September 2025 was 108% of the Long Period Average (LPA), with particularly high rainfall recorded in Northwest India at 127% of LPA and Central India at 115% of LPA.
For the road-construction ecosystem, the monsoon is structurally significant because heavy rainfall can affect road-laying schedules, project-site activity, material movement and execution timelines. Accordingly, the strong annual economic growth recorded by India during FY2025-26 coexisted with periods of slower infrastructure execution during the monsoon months.
Source: India Meteorological Department - Observed Rainfall Features During Southwest Monsoon 2025
The Indian economic environment therefore presents two complementary forces for our business.
On the demand side, strong economic growth and continued government spending on roads and highways provide a structural foundation for bitumen demand. Indias FY2026-27 road-sector allocation of approximately 3.09 lakh crore and the target of constructing 10,000 km of National Highways demonstrate continued policy support for infrastructure development.
On the cost and supply side, Indias approximately 89% dependence on imported crude oil makes the domestic petroleum value chain sensitive to international crude prices, geopolitical developments, freight and supply-chain conditions. The fact that 46.9% of Indias crude imports during April-January FY2025-26 originated from the Middle East further highlights the relevance of developments in the region to Indias energy economics.
For us, this creates a business environment in which structural infrastructure demand remains favourable, while procurement costs and supply availability can remain volatile. Our focus on multiple sourcing channels, strategically located processing facilities, value-added bitumen products and greater downstream diversification is therefore intended to strengthen our ability to participate in Indias infrastructure growth while managing the volatility inherent in an import-linked petroleum value chain.
Bitumen remains a critical material for Indias road infrastructure, serving as the principal binding agent in flexible pavement construction. Its demand is closely linked to the development, maintenance and rehabilitation of national highways, state roads, rural roads and urban road networks. The industry therefore remains structurally linked to Indias continued investment in transportation infrastructure.
Indias bitumen consumption stood at 8.33 million tonnes in FY2024-25, compared with 8.81 million tonnes in FY2023-24, representing a decline of 5.4%. Importantly, 98% of cumulative bitumen sales during FY2024-25 were consumed by road construction, demonstrating the industrys strong dependence on infrastructure activity.
This makes the industrys demand outlook fundamentally dependent on the pace of road construction, maintenance expenditure, project execution and weather conditions. While infrastructure investment provides a long-term structural demand base, actual bitumen offtake can fluctuate across periods because road-laying activity is seasonal and sensitive to monsoon conditions and project execution schedules.
Source: Petroleum Planning & Analysis Cell (PPAC), Industry POL & NG Con Report 2024-25, PPAC - Industry POL & NG Con Report 2024-25
The underlying demand environment for bitumen remains constructive because of Indias expanding road network and continued public investment in highways and rural connectivity.
The Pradhan Mantri Gram Sadak Yojana (PMGSY-IV), launched in September 2024, is being implemented from FY2024-25 to FY2028-29 with a total outlay of 70,125 crore, targeting connectivity for 25,000 habitations. The programme also envisages greater use of new technologies and green techniques in rural-road construction.
At the national level, continued highway construction and maintenance provide an additional structural demand base. This is particularly relevant for processed and modified bituminous products, where specifications are increasingly application-specific.
For us, this translates into a broad addressable market across national highways, state PWD roads, rural roads, urban roads, road maintenance and specialised infrastructure applications.
Source:
Bitumen demand is inherently seasonal because road construction and resurfacing activity are influenced by the monsoon and project execution cycles. Typically, the April-September period experiences greater weather-related disruption to road-laying activity, while October-March provides a more favourable execution window.
The FY2025 monsoon illustrates the importance of this seasonality. The southwest monsoon arrived in Kerala on 24 May 2025, earlier than the normal onset date of 1 June, and seasonal rainfall during June-September 2025 was 108% of the Long Period Average.
For FY2025-26, however, the normal seasonal recovery in the second half coincided with an additional supply-side disruption arising from the escalation of geopolitical tensions in West Asia. This created a different operating environment from a conventional seasonal cycle.
The Indian bitumen market is also evolving beyond conventional viscosity and penetration grades toward products designed for specific pavement conditions and performance requirements.
The Ministry of Road Transport & Highways has prescribed the use of Polymer Modified Bitumen (PMB) and Crumb Rubber Modified Bitumen (CRMB) for specified pavement applications under its technical specifications.
This creates a structural opportunity for companies possessing processing capability, technical expertise and quality-assurance infrastructure. Modified bitumen requires greater processing and quality control than conventional grades and therefore provides an avenue for differentiation beyond pure commodity trading.
For Nexus, this direction is aligned with the Companys expansion into PMB, CRMB and bitumen emulsions, alongside conventional VG and penetration grades.
A further development in the Indian bitumen industry is the emergence of bio-bitumen and other lower-carbon alternatives to conventional petroleum-based binders.
In January 2026, the Ministry of Road Transport & Highways highlighted Indias indigenous development of bio-bitumen from agricultural residue through CSIR-CRRI and CSIR-IIP technology. The Government stated that the technology has the potential to replace up to 30% of conventional bitumen, while a 15% blending level could potentially generate foreign-exchange savings of approximately 4,000 crore annually, subject to the actual blending ratio, feedstock availability and market prices.
Source: PIB - Indigenous Development of Bio-Bitumen from Agricultural Residue
FY 2025-26 was a year of operational transition for us. While revenue from operations moderated from the high base of the previous year, profitability improved, reflecting stronger operating economics, tighter cost discipline, lower finance costs and a higher contribution from value-added processing. The second half of the year was particularly important: revenue was lower than the corresponding period of the previous year, but gross margin, EBITDA margin and PAT margin expanded materially, demonstrating improved quality of earnings.
We continued to operate through our three strategically located facilities at Mundra in Gujarat, Pali in Rajasthan and Bhopal in Madhya Pradesh. Our operating model gives us access to imported and domestic raw material, proximity to important road-construction markets and the ability to process and deliver a broad range of bituminous products. Our product portfolio includes viscosity-grade and penetration-grade bitumen, bitumen emulsions, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), and the Companys licensed KrishibindT bio-bitumen technology. Our three facilities provide a combined processing capacity of 550 tonnes per day, while approximately 15% of revenue is currently derived from value-added products. These operating indicators are important to understanding our move toward a more value-oriented product mix.
We also continued to strengthen quality assurance through our NABL-accredited laboratory infrastructure and our BIS/ISO credentials. Our CSIR-CRRI and CSIR-IIP certified licence for KrishibindT adds a technology-led dimension to the portfolio and provides a platform for participation in the longer-term transition toward more sustainable road-building materials.
We operate three facilities located at Mundra, Pali and Bhopal. Our facilities have capacities of approximately 150 tonnes per day at Mundra, 300 tonnes per day at Pali and 100 tonnes per day at Bhopal, for a combined processing capacity of 550 tonnes per day. The footprint is designed to combine import access, regional market reach and processing flexibility.
Mundra serves as the primary import-oriented hub and supports bitumen and emulsion products. Pali is our largest facility and supports the widest product range, including PMB and CRMB. Bhopal provides a central distribution and processing presence with access to neighbouring states. The configuration gives us the ability to position inventory and processing closer to end markets and to respond to regional demand conditions.
Product Portfolio
| Category | Key products / applications | Strategic role |
| Viscosity-grade bitumen | V0-10, V0-30, V0-40; national/state highways and urban roads | Core volume platform |
| Penetration-grade bitumen | 60/70 and 80/100; industrial and legacy specifications | Established demand base |
| Bitumen emulsions | RS1, RS2, SS1, SS2; rural roads, maintenance and cold-mix applications | Broadens application range |
| Polymer Modified Bitumen | PMB; higher-performance road applications | Value-added growth |
| Crumb Rubber Modified Bitumen | CRMB; modified bitumen applications | Value-added growth |
| Krishibind\u2122 | Bio-bitumen technology under certified licence | Long-term sustainable-road opportunity |
Our portfolio strategy is to increase the share of products where processing, certification and application knowledge create stronger customer relationships and greater value capture. This approach is also consistent with the broader objective of reducing dependence on pure commodity trading economics.
Our quality systems are embedded across procurement, processing, testing and dispatch. NABL-accredited laboratory capabilities support reliable batch certification, while BIS and ISO credentials reinforce process discipline. We continue to use our R&D capabilities for product development, benchmarking and identification of alternative raw-material sources. Technology development and product improvement are embedded in normal productive activity and continuous process improvement.
Our logistics model combines an owned commercial fleet with third-party tanker capacity. Temperature-controlled movement is particularly important for bitumen and related products because product handling requirements vary by application. We work closely with road-construction contractors, state PWD-linked customers, hot-mix operators, rural-road contractors and other industrial buyers to align dispatch with project schedules.
Our people remain an important execution enabler across procurement, plant operations, quality, sales, logistics and administration. Our FY 2026 workforce comprised 56 employees, compared with 54 employees in the previous year. We continue to focus on skill development, safety, functional accountability and retention of experienced operating talent.
Industrial relations remain important to a manufacturing and processing business because continuity, safety and discipline directly affect plant performance and customer service. Our approach is therefore centred on safe working practices, clear operating procedures, training and continuous capability development.
KrishibindT Bio-Bitumen Licence - CSIR Certification:
During FY 2025-26, the Company obtained a CSIR-CRRI and CSIR-IIP certified licence (Licence No. CRRI/PME/L38, valid up to January 2031) for KrishibindT bio-bitumen technology. Bio-bitumen is manufactured through the pyrolysis of agricultural biomass (rice straw, cotton stalks and similar lignocellulosic residues), producing a bio-binder that can be used as a partial replacement for, or a modifier to, conventional VG-grade bitumen in flexible pavement construction. Nexus is one of few companies in India to hold this licence. The Central Government has publicly signalled its intent to promote bio-bitumen adoption to reduce Indias bitumen import dependency the CSIR-CRRI and CSIR-IIP technology transfer ceremony of 7 January 2026, at which Nexus was among the recipient companies, was a formal step in this direction.
FY2025-26 saw a moderation in revenue, while profitability remained resilient. Revenue from Operations stood at 26,187.37 lakh compared with 30,493.34 lakh in FY2024-25. At the same time, the lower cost base and improved gross margins supported higher EBITDA and Profit After Tax during the year. EBITDA increased to 1,206.83 lakh from 1,124.71 lakh, while Profit After Tax increased to 639.38 lakh from 608.78 lakh
| Particulars (\u20b9 in Lakhs) | FY 2025-26 | FY 2024-25 | YoY Change |
| Revenue from Operations | 26,187.37 | 30,493.34 | (14.1%) |
| Cost of Goods Sold | 22,874.48 | 27,780.21 | (17.7%) |
| Gross Profit | 3,312.89 | 2,713.13 | +22.1% |
| Gross Profit Margin | 12.65% | 8.90% | +375 bps |
| EBITDA | 1,206.83 | 1,124.71 | +7.3% |
| EBITDA Margin | 4.61% | 3.69% | +92 bps |
| Profit After Tax | 639.38 | 608.78 | +5.0% |
| PAT Margin | 2.44% | 2.00% | +44 bps |
| Earnings Per Share (\u20b9) | 9.20 | 10.14 | (9.3%) |
Consolidated Revenue from Operations stood at 26,187.37 lakhs in FY26, compared with 30,493.34 lakhs in FY25, a decline of 14.1%. The decline was mainly due to lower dispatch volumes during H2 FY26, particularly towards the end of the year amid disruption in bitumen shipping through the Strait of Hormuz.
Cost of Materials Consumed / Traded Goods declined 17.7% to 22,874.48 lakhs, in line with the lower volume throughput during the year. On a per-unit basis, however, raw material costs firmed considerably in the second half - a movement absorbed through pricing discipline and improved product mix rather than at the expense of margin.
Profitability improved during FY2025-26 despite the decline in revenue. Gross Profit increased by 22.1% and Gross Profit Margin improved by 375 basis points to 12.65%. EBITDA increased to 1,206.83 lakh from 1,124.71 lakh, with EBITDA Margin improving to 4.61% from 3.69%. Profit After Tax also increased by 5.0% to 639.38 lakh, while PAT Margin improved to 2.44% from 2.00%. The improvement in margins reflects better gross profitability and the Companys focus on maintaining operating efficiency during the year.
The Companys FY 2025-26 performance is best understood in two halves. H1 (April to September 2025) was affected by an above-normal and early-onset monsoon in India which slowed on-site road construction activity. A pattern typical to the industry cycle, H2 (October 2025 to March 2026) was shaped by a very different dynamic, and the intensification of the West Asia conflict from late February 2026 disrupted Middle East seaborne bitumen supply, driving landed cost sharply higher and constraining imported cargo availability.
| Particulars (\u20b9 Lakhs) | H2 FY25 | H1 FY26 | H2 FY26 | H2 YOY |
| Revenue from Operations | 21,782.25 | 14,118.11 | 12,069.26 | (44.6%) |
| Gross Profit | 1,971.13 | 1,467.11 | 1,845.78 | (6.4%) |
| Gross Profit Margin | 9.05% | 10.39% | 15.29% | +624 bps |
| EBITDA | 804.29 | 464.39 | 742.44 | (7.7%) |
| EBITDA Margin | 3.69% | 3.29% | 6.15% | +246 bps |
| Profit After Tax | 475.35 | 203.29 | 423.90 | (10.8%) |
| PAT Margin | 2.18% | 1.44% | 3.51% | +133 bps |
Profit Before Tax (before exceptional item) increased 8.9% to ?881.85 lakhs from ?809.40 lakhs, notwithstanding a substantially higher depreciation charge during the year. Profit After Tax rose 5.0% to ?639.38 lakhs from ?608.78 lakhs.
| Ratio | FY25 | FY26 | Movement |
| Current Ratio | 1.91x | 2.13x | +11.51% |
| Debt-to-Equity | 0.60x | 0.54x | +10% |
| Debt Service Coverage Ratio | 1.99x | 2.69x | +35.29% |
| Trade Receivables Turnover | 14.15x | 8.53x | +39.7% |
| Inventory Turnover | 30.50x | 30.96x | +1.51% |
| ROE | 29.72% | 18.03% | +39.35% |
| ROCE | 20.77% | 18.39% | +11.19% |
Cash Flow Analysis
| Cash Flow (\u20b9 Lakhs) | FY 2025-26 | FY 2024-25 |
| Net Cash from / (used in) Operating Activities | 684.10 | (775.77) |
| Net Cash used in Investing Activities | (997.52) | (332.52) |
| Net Cash from / (used in) Financing Activities | (72.89) | 1,265.09 |
| Net Change in Cash and Cash Equivalents | (386.31) | 156.80 |
| Cash and Cash Equivalents at Year End | 50.35 | 436.65 |
Operating cash flow turned positive during FY2025-26, with net cash generated from operating activities of ?684.10 lakh compared with an operating cash outflow of ?775.77 lakh in FY2024-25. This turnaround is an important indicator of improved operating cash conversion. The cash-flow statement shows that working-capital movements contributed materially to the improvement, including a ?423.39 lakh cash inflow associated with the change in inventories. At the same time, the increase in trade receivables represented a use of operating cash during the year.
Investing activities absorbed ?997.52 lakh during FY2026 compared with ?332.52 lakh in FY2025, reflecting the Companys higher investment in property, plant and equipment and other non-current assets. Financing activities recorded a net outflow of ?72.89 lakh compared with a net inflow of ?1,265.09 lakh in the previous year.
The Companys current ratio remained above 2.0 times at 2.13x at 31 March 2026, compared with 1.91x at 31 March 2025 based on the audited financial-statement figures. The improvement was driven primarily by a reduction in current liabilities, particularly other current liabilities, together with the lower inventory requirement at year-end. Liquidity should nevertheless be monitored in the context of the higher receivables balance, lower cash holdings and the capital-intensive nature of bitumen procurement and processing.
Total Assets expanded to ?6,456.76 lakhs from ?6,053.11 lakhs, an increase of 6.7%. The composition of the balance sheet shifted materially, with Property, Plant & Equipment rising to ?1,331.63 lakhs from ?711.21 lakhs on account, and Other Non-Current Assets rising to ?229.68 lakhs from ?9.38 lakhs. On the funding side, Total Equity expanded to ?3,866.20 lakhs from ?3,226.79 lakhs through retained earnings, while Long-Term Borrowings rose to ?334.72 lakhs from ?69.92 lakhs
Sustained public infrastructure expenditure creates a long-duration demand opportunity for bitumen and allied products.
Expansion of value-added products such as PMB, CRMB and emulsions can improve product mix, customer stickiness and margin resilience.
Import-substitution and sustainability trends can create new opportunities for Krishibind and other alternative bituminous technologies, subject to customer adoption and applicable regulatory requirements.
The Pail tyre-pyrolysis facility creates an adjacent manufacturing opportunity with direct cross-selling potential into the existing road-construction customer base.
The three-location footprint allows us to deepen presence across Western and Central India while improving response time and logistics economics. Quality credentials, NABL laboratory capability and government empanelment further strengthen our ability to participate in quality-sensitive infrastructure procurement
International crude prices, refinery economics and import parity can change rapidly, affecting the landed cost of bitumen. A sudden increase in input prices can compress margins if corresponding customer repricing is delayed. We mitigate this through active procurement, customer-level pricing discipline and close monitoring of inventory exposure.
Geopolitical events can disrupt shipping routes, freight availability and delivery schedules. This is particularly relevant for imported material. Diversified sourcing channels, supplier relationships and the location advantage of Mundra form the first line of mitigation, supplemented by more active planning of inventory and dispatch.
Road construction is influenced by weather, project clearances and execution schedules. Seasonal slowdowns can reduce utilisation and revenue in certain periods. We address this through multiple markets, a broad product portfolio and active working-capital planning.
Infrastructure-linked customers can have extended receivable cycles. A deterioration in collection days can increase borrowing requirements and financing costs. Our response is disciplined customer selection, credit monitoring, collection follow-up and periodic review of outstanding receivables.
Human capital remains a foundation element of the Companys operating model. As on 31 March 2026, the Company employed 64 personnel across its three manufacturing facilities, the Ahmedabad corporate office and the Mundra R&D unit. Industrial relations across all locations remained cordial during the year, and no significant employee grievances or industrial disputes were recorded.
The Company continues to invest in the technical capability of its people, particularly around the operation of the NABL-accredited quality laboratory and the specialised requirements of PMB, CRMB and - prospectively - bio-bitumen production.
The Company has established internal control systems commensurate with the size, scale and complexity of its operations. These controls are designed to ensure the reliability of financial reporting, safeguarding of assets, prevention and detection of frauds and errors, compliance with applicable laws and regulations, and the orderly and efficient conduct of business. The Audit Committee of the Board reviews the effectiveness of internal financial controls, and interacts with the Statutory Auditors and Internal Auditors on their observations and findings. Standard operating procedures are in place across procurement, inventory management, batch testing at the NABL laboratory, despatch and receivables management. During the year under review, no material weaknesses in the design or operating effectiveness of the internal control systems have been identified.
Used Tyre Pyrolysis Oil (TPO) Manufacturing Facility at Pali:
The Company completed construction of a 30 Tonnes-per-Day (TPD) Used Tyre Pyrolysis Oil manufacturing plant at its Pali facility, with commercial production commenced on 30 August 2026. TPO is a value-added industrial heating fuel used by road construction contractors in hot-mix plants for heating bitumen prior to road laying, and functions as a cost-effective substitute for Light Diesel Oil (LDO). The commercial rationale for the TPO facility is direct customer synergy: the same road construction contractors that purchase Nexxuss bitumen are the primary consumers of the heating fuel used to prepare that bitumen for laying, allowing cross-selling into the existing customer network without additional acquisition cost. The facility is supported by 500 KL of on-site liquid storage capacity, and civil foundations and structural layout have been designed to support a scale-up to a total site capacity of 60 TPD in a subsequent phase. The Phase-1 investment was funded through a combination of internal accruals and term loan (with the availability of applicable interest subsidy benefit)
We enter FY 2026-27 with a stronger operating platform, improved margins and a clearer focus on value creation. The external environment is expected to remain supportive of infrastructure-led demand, while geopolitical and commodity-market risks remain relevant. Our strategy is therefore to combine growth opportunities with disciplined risk management rather than pursue volume without adequate economic returns.
Our priorities for the coming year are to deepen the share of value-added products, strengthen procurement and logistics efficiency, improve working-capital conversion, expand our customer base across infrastructure and industrial applications, and integrate new adjacent manufacturing opportunities. We will continue to build the technical and quality capabilities necessary to participate in more demanding applications and to support long-term product differentiation.
The road infrastructure outlook remains constructive. Indias continued public investment in highways and transport infrastructure, together with the large installed road network, provides a broad demand base for bitumen and related products. The growth opportunity for us will increasingly depend on our ability to capture value from this demand through the right product mix, regional coverage, quality credentials and service reliability.
This Management Discussion and Analysis contains statements that may be considered forward-looking within the meaning of applicable securities laws and regulations. Such statements are based on Managements current expectations, assumptions and estimates and are subject to risks and uncertainties, including but not limited to changes in government policy, economic conditions, commodity prices, interest rates, foreign exchange rates, freight and supply-chain conditions, customer demand, competition, regulatory developments, technology adoption and the Companys ability to execute its business plans. Actual results may differ materially from those expressed or implied by such statements. The Company does not undertake to publicly update any forward-looking statement except as may be required under applicable law.
Details of contracts or arrangements or transactions not at arms length basis: No such transactions were entered during the financial year 2025-26
Details of material contracts or arrangement or transactions at arms length basis:
(Amount in Lakhs)
| Name(s) of the related party and nature of relationship | Nature of transactions | Duration of the transactions | Salient terms of the contracts or arrangements or transactions including the value, if any: | Date(s) of approval by the Board, if any: | Amount paid as advances, if any: |
| Nextp Petrochem LLP - Group Company - Related Party | Purchase of Goods | Yearly | Upto 100 Crores | 10th April, 2025 | - |
| Nextp Petrochem LLP | Sales of Goods/ Services | Yearly | Upto Rs. 100.00 Lakhs | 10th April, 2025 | - |
| Jignesh Senghani | Rent | Yearly | Upto Rs. 100 Crores | 10th April, 2025 | - |
| Mohanl Senghani | Rent | Yearly | Upto Rs. 100 Crores | 10th April, 2025 | - |
By Order of the Board of Directors For Nexxus Petro Industries Limited
| Haresh Mohanlal Senghani |
| Chairman & Managing Director |
| DIN: 08163360 |
Particulars of Employees
(a) The ratio of remuneration of each Director to the median employees remuneration for the financial year:
| Sr. | Name | Designation | Ratio |
| 1. | Haresh Mohanlal Senghani | Managing Director | 18.55:1 |
| 2. | Rahul Mohanlal Senghani | Whole-Time Director | 18.55:1 |
| 3. | Anil Bhatt | Chief Financial Officer | 2.75:1 |
| 4. | Ghadiali Zehra Murtaza | Company Secretary | 1.09:1 |
| 5. | Hussain Bootwala | Non-Executive Director & Independent Director | NA |
| 6. | Parshwa Shah | Non-Executive Director & Independent Director | NA |
| 7. | Dhruvi Ramesh Patel | Non-Executive Director & Independent Director | NA |
| 8. | Dhruvi Ramesh Patel | Non-Executive Director & Independent Director | NA |
*The company does not pay any remuneration to marked directors
(b) The percentage increase in remuneration of each Director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year:
| Sr. | Name | Designation | Percentage |
| 1. | Haresh Mohanlal Senghani | Managing Director | 15.00 |
| 2. | Rahul Mohanlal Senghani | Whole-Time Director | 15.00 |
| 3. | Gaurav Mehta | Chief Financial Officer | Nil |
| 4. | Hussain Bootwala* | Non-Executive Director & Independent Director | - |
| 5. | Parshwa Shah* | Non-Executive Director & Independent Director | - |
| 6. | Dhruvi Ramesh Patel* | Non-Executive Director & Independent Director | - |
| 7. | Zehra Murtaza Ghadiali | Company Secretary | 4.90 |
| 8. | Anil Bhatt | Chief Financial Officer | NA |
* The company does not pay any remuneration to marked directors
(c) The percentage increase in the median remuneration of employees in the financial year ended 31st March, 2026: (3.33)
(d) The number of permanent employees on the rolls of the Company as on 31st March 2026: 64 Employees
(e) Average percentile increases in the salaries of the employees and managerial remuneration:
i. Employees other than KMP: (11.63) ii. KMP: Nil iii. Employees Other than management: (3.33)
The Board of Directors of the Company hereby affirmed that remuneration of all the Key Managerial Personnel of the Company are as per the Remuneration Policy of the Company.
By Order of the Board of Directors For Nexxus Petro Industries Limited
| Date: 04th September, 2026 |
| Place: Ahmedabad |
To, Board of Directors Nexxus Petro Industries Limited
As required under the Regulation 17 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations) read with Schedule II part B of the Listing Regulations, we hereby certify that;
We have reviewed the Balance Sheet and Profit and Loss account, its schedule and notes to the accounts and cash flow statements for the year ended 31st March 2026 and that to the best of our knowledge and belief;
a) These statements do not contain any materially untrue statement or omit any material fact or contain statements that may be misleading;
b) These statements together present a true and fair view of the Companys affairs and are in compliance with existing accounting standards, applicable laws and regulations.
We also certify that based on our knowledge and information provided to us, there are no transactions entered into by the Company during the year which are fraudulent, illegal or violate the Companys Code of Conduct.
We accept the responsibilities for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which we are aware and the steps taken or propose to take to rectify these deficiencies.
We have indicated to the Auditors and the Audit Committee:
a) Significant change in internal control over financial reporting during the year.
b) Significant changes in accounting policies during the year and that the same have been disclosed in notes to the financial statements; and
c) Instances of significant fraud of which we have become aware and involvement therein, if any, of the management or an employee having a significant role in the Companys internal control system over financial reporting.
For and on behalf of Board Nexxus Petro Industries Limited
| Date: 04th September, 2026 |
| Place: Ahmedabad |
| Anil Bhatt | Haresh Mohanlal Senghani |
| Chief Financial Officer | (Chairman & Managing Director) |
| DIN: 08163360 |
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2026, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132 (Member ID - NSE: 10975 BSE: 179 MCX: 55995 NCDEX: 01249), DP SEBI Reg. No. IN-DP-185-2016, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, Merchant Banker SEBI Regn. No. INM000010940, RA SEBI Regn. No: INH000000248, BSE Enlistment Number (RA): 5016, AMFI-Registered Mutual Fund Distributor & SIF Distributor
ARN NO : 47791 (Date of initial registration – 17/02/2007; Current validity of ARN – 08/02/2027), PFRDA Reg. No. PoP 20092018, IRDAI Corporate Agent (Composite) : CA1099
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
