Key Quantitative Figures (Standalone)

  • Q2 FY27 (Unaudited): Total Income: ₹64 lakh; Total Expenses: ₹79 lakh; Net Loss: ₹15 lakh; EPS: (₹0.00)
  • Q1 FY27 (Unaudited): Total Income: ₹77 lakh; Total Expenses: ₹68 lakh; Net Profit: ₹9 lakh; EPS: ₹0.00
  • Q2 FY26 (Unaudited): Total Income: ₹87 lakh; Total Expenses: ₹103 lakh; Net Loss: ₹16 lakh; EPS: (₹0.00)
  • H1 FY27 (Unaudited): Total Income: ₹141 lakh; Total Expenses: ₹147 lakh; Net Loss: ₹6 lakh; EPS: (₹0.00)
  • H1 FY26 (Unaudited): Total Income: ₹158 lakh; Total Expenses: ₹104,022 lakh; Net Loss: ₹103,864 lakh; EPS: (₹6.58)
  • FY26 (Audited): Total Income: ₹309 lakh; Total Expenses: ₹104,202 lakh; Net Loss: ₹103,931 lakh; EPS: (₹6.58)
  • Paid-up Equity Capital: ₹15,792 lakh (face value Re 1/share) across all periods

Key Quantitative Figures (Consolidated)

  • Q2 FY27 (Unaudited): Total Income: ₹123 lakh; Total Expenses: ₹268 lakh; Net Loss Attributable to Owners: ₹145 lakh; EPS: (₹0.01)
  • Q1 FY27 (Unaudited): Total Income: ₹169 lakh; Total Expenses: ₹224 lakh; Net Loss Attributable to Owners: ₹55 lakh; EPS: (₹0.00)
  • Q2 FY26 (Unaudited): Total Income: ₹132 lakh; Total Expenses: ₹253 lakh; Net Loss Attributable to Owners: ₹121 lakh; EPS: (₹0.01)
  • H1 FY27 (Unaudited): Total Income: ₹292 lakh; Total Expenses: ₹492 lakh; Net Loss Attributable to Owners: ₹200 lakh; EPS: (₹0.01)
  • H1 FY26 (Unaudited): Total Income: ₹8,349 lakh; Total Expenses: ₹41,949 lakh; Net Loss Attributable to Owners: ₹83,542 lakh; EPS: (₹5.29)
  • FY26 (Audited): Total Income: ₹8,718 lakh; Total Expenses: ₹42,692 lakh; Net Loss Attributable to Owners: ₹83,951 lakh; EPS: (₹5.32)
  • Paid-up Equity Capital: ₹15,792 lakh (face value Re 1/share) across all periods

Assets and Liabilities (Standalone as of September 30, 2026)

  • Total Assets: ₹24,440 lakh (Mar-26: ₹24,501 lakh)
  • Non-Current Assets: ₹18,490 lakh (Investments: ₹18,097 lakh; PPE: ₹10 lakh)
  • Current Assets: ₹5,950 lakh (Cash: ₹4,452 lakh; Investments: ₹1,051 lakh)
  • Equity: Negative ₹18,466 lakh (Share Capital: ₹15,792 lakh; Other Equity: Negative ₹34,258 lakh)
  • Liabilities: ₹42,906 lakh (Non-Current: ₹2,695 lakh; Current: ₹40,211 lakh)
  • Borrowings (Current): ₹36,427 lakh

Assets and Liabilities (Consolidated as of September 30, 2026)

  • Total Assets: ₹56,497 lakh (Mar-26: ₹56,975 lakh)
  • Non-Current Assets: ₹19,184 lakh (Right of Use: ₹11,655 lakh; Investments: ₹7,136 lakh)
  • Current Assets: ₹37,313 lakh (Other Financial Assets: ₹29,088 lakh; Cash: ₹4,580 lakh)
  • Equity Attributable to Owners: Negative ₹145,888 lakh (Share Capital: ₹15,792 lakh; Other Equity: Negative ₹161,680 lakh)
  • Non-Controlling Interest: ₹123,692 lakh
  • Total Liabilities: ₹78,693 lakh (Non-Current: ₹31,740 lakh; Current: ₹46,953 lakh)
  • Borrowings (Non-Current): ₹29,045 lakh

Cash Flows (Standalone H1 FY27)

  • Operating Activities: Net Cash Used: ₹257 lakh
  • Investing Activities: Net Cash Generated: ₹277 lakh (Sale of Investments: ₹184 lakh; Interest Received: ₹93 lakh)
  • Financing Activities: No cash flow
  • Net Change in Cash: Increase of ₹20 lakh (Opening Cash: ₹4,432 lakh; Closing Cash: ₹4,452 lakh)

Cash Flows (Consolidated H1 FY27)

  • Operating Activities: Net Cash Used: ₹468 lakh
  • Investing Activities: Net Cash Generated: ₹684 lakh (Sale of Investments: ₹591 lakh; Interest Received: ₹93 lakh)
  • Financing Activities: Net Cash Used: ₹207 lakh (Repayment of Short-term Loans)
  • Net Change in Cash: Increase of ₹9 lakh (Opening Cash: ₹4,571 lakh; Closing Cash: ₹4,580 lakh)

Significant Events and Disclosures

1. CIRP Status: The company was admitted into CIRP on July 15, 2024. NCLT Hyderabad restored the CIRP via order dated October 16, 2026, directing completion within 120 days. Resolution Professional received claims of ₹21,79,248 lakh from financial creditors, admitting ₹15,94,489 lakh (including ₹14,89,486 lakh from GVK Coal lenders). Two resolution plans were rejected by CoC.

2. GVK Coal Developers (Associate): The company provided guarantees for loans up to USD 1,132.45 million (₹10,86,962 lakh) to GVK Coal. An England court order dated October 19, 2023, crystallized liability at USD 2.19 billion. The company impaired investments/receivables of ₹79,048 lakh in earlier years. Australian subsidiaries of GVK Coal commenced liquidation on October 29, 2026.

3. GVK Energy Limited (Subsidiary): Admitted into CIRP on May 7, 2025. Deconsolidated from May 6, 2025, resulting in a loss of ₹104,158 lakh. Investments and loans to GVKEL impaired by ₹84,120 lakh and ₹19,690 lakh in Q1 FY26.

4. Edelweiss/Phoenix ARC Settlement: AHPCL (GVKEL subsidiary) issued NCDs and prepaid loans. Edelweiss invoked pledge on 46.6 crore AHPCL shares. A settlement of ₹33,000 lakh at 12.5% interest was entered on October 9, 2023, with ₹13,000 lakh paid. Facilities assigned to Phoenix ARC, which filed claims of ₹116,399 lakh; RP admitted ₹105,003 lakh. NCLT rejected GVKEL's resolution plan post-reporting period.

5. GVK Ratle Hydro Project: Arbitration award of ₹29,048 lakh in favor against JKPDD. Appeal pending in Supreme Court. Adopted liquidation basis accounting.

6. GVK Perambalur SEZ: Investment property of ₹11,655 lakh mortgaged to Canara Bank. Bank exercised lien for GVK Coal liabilities. Writ petition filed in Telangana High Court. ED attached property under PMLA; status quo maintained.

7. CBI/ED Investigations: CBI filed chargesheet on February 9, 2023, against MIAL, GVK officials for alleged fund siphoning. ED filed complaint under PMLA in April 2021. Proceedings stayed by Sessions Court; next hearings on November 21, 2026 (Sessions Court) and December 11, 2026 (Trial Court).

8. Adani Airport Holdings Transaction: Sold GVKADL to AAHL per August 31, 2020, agreement. AAHL transferred OCDs of ₹137,464 lakh to GVKPIL in YECPL and SRIL. ₹137,464 lakh received; OCDs treated as redeemed except ₹7,136 lakh disclosed as non-current investment.

Auditor's Review Report

Auditors issued a disclaimer of conclusion due to uncertainties regarding going concern, guarantees, litigation, and CIRP outcomes. Emphasis placed on GVK Coal guarantees, GVKEL deconsolidation, Edelweiss settlement, CBI/ED investigations, and SEZ property issues.

Financial Impact

Financial impact of guarantees and litigation is not quantified in the disclosure. The outcome of CIRP will determine ultimate liabilities.