Are Nimbus Projects Ltd latest results good or bad?

Nimbus Projects Ltd's latest financial results for Q3 FY26 indicate significant operational challenges. The company reported net sales of ₹2.26 crores, reflecting a substantial decline of 48.28% compared to the previous quarter. This marks the lowest quarterly revenue since June 2025. The net loss for the quarter reached ₹40.95 crores, a drastic change from a profit in the prior quarter, highlighting a severe deterioration in profitability. The operating margin was deeply negative at -991.15%, indicating that the company's costs far exceeded its revenues. Over the nine-month period ending December 2025, total sales amounted to ₹10.53 crores, which represents a dramatic 94.07% decline from the same period in the previous year. This sharp revenue drop underscores significant difficulties in project execution and revenue recognition within the real estate sector. Additionally, the profit before tax (PBT) for Q3 FY26 was negative ₹44.85 crores, contrasting sharply with a positive figure in the previous quarter. The volatility in other income, which turned negative, further exacerbated the earnings instability. Employee costs and interest expenses remained high, further straining the company's financial position. The company has seen an adjustment in its evaluation, reflecting the ongoing operational distress and the challenges it faces in stabilizing its financial performance. The absence of institutional investor interest and the significant increase in long-term debt raise concerns about its future viability. Overall, Nimbus Projects Ltd is navigating a critical period marked by severe financial and operational hurdles.