Nureca's ₹100 cr capex is 37% of its market cap. The CFO is leaving.
A profit turnaround gives Nureca the credibility to bet big on a Punjab factory. The ₹100 crore capex is a huge commitment for a ₹267 crore company. The CFO exits just as the project starts.
— 3 earlier stories on Nureca Ltd. →What's new
- Nureca swung to a net profit of ₹2.97 crore in FY26, reversing a ₹6.68 crore loss.
- Revenue grew 28% to ₹147.2 crore, and the board approved up to ₹100 crore in new capex.
- CFO Naresh Gupta resigns June 26; finance manager Chander Kant succeeds him.
Why this matters
The ₹100 crore bet is massive for a company with a ₹267 crore market cap. The turnaround from loss to profit gives management some license, but the CFO departure during a major capital deployment is a red flag. The new manufacturing focus could improve margins, but it also concentrates risk in a single Punjab facility.
What we're watching
- How the ₹100 crore plant is funded—debt, equity, or internal cash.
- Whether the CFO change disrupts oversight during the company's biggest-ever investment.
- If the new capacity translates into faster revenue or better gross margins.
The full read
Nureca posted its first annual profit in years. Net profit of ₹2.97 crore on 28% revenue growth to ₹147.2 crore. The board is reinvesting, approving up to ₹100 crore in new capex for a Punjab factory making medical devices and hygiene products. That ₹100 crore is 37% of the company's ₹267 crore market cap. The bet is that owning manufacturing will lift margins and scale. It's a sharp pivot from a year ago, when the company was still losing ₹6.68 crore. The wrinkle: CFO Naresh Gupta is leaving on June 26, just as the cash starts flowing out the door. His replacement, Chander Kant, is a promotion from finance manager. Continuity, yes. But a new face during the highest-stakes capital deployment in the company's public history.
Questions answered
- How large is the capex relative to Nureca's size?
- The approved ₹100 crore capex is 37% of Nureca's ₹267 crore market capitalization. It is an aggressive commitment for a company that just returned to profit.
- What was Nureca's financial performance in FY26?
- Revenue increased 28% to ₹147.2 crore, and the company reported a net profit of ₹2.97 crore. It had posted a net loss of ₹6.68 crore in the prior fiscal year.
- Why is the CFO leaving?
- Naresh Gupta is stepping down to 'pursue outside career opportunities,' according to the filing. Chander Kant, the current finance manager, will succeed him.
- What is the capex for?
- The funds are for expanding manufacturing capacity for medical devices and hygiene products at a company-owned facility in Punjab.
Story so far
All notes on NURECA →- 29 May 2026 · 8:41 PM IST Nureca's ₹100 cr capex is 37% of its market cap. The CFO is leaving.
- today Nureca promoter buys 60,842 shares, nudging stake to 34.35%
- 8d ago Nureca raised its Punjab plant budget 28%. It calls the first number a typo.
- 11d ago Nureca posts FY25 results and adds a whole-time director