Summary of Key Information:
Reporting Period (Quarter/Year): Quarter ended June 30, 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting and Unaudited Financial Results
Date of Board Meeting / Approval: August 13, 2026
Audit Opinion: Unmodified report with emphasis of matter on going concern and litigation
Auditor’s Comment: Highlighted material uncertainty regarding going concern and reliance on management assertions for certain exposures
Key Financial Highlights [Rs in lacs]
Standalone Results:
Revenue from Operations: ₹0 (Previous Q1: ₹0; QoQ: No change)
Total Income: ₹503.79 (Previous Q1: ₹186.03; YoY: +170.8%)
Net Profit: ₹(131.63) loss (Previous Q1: ₹30,496.12 profit; YoY: Deterioration)
EPS: ₹(0.01) after exceptional items (Previous Q1: ₹3.24)
Other Equity: ₹(1,20,934.97) as of March 31, 2026
Cash and Cash Equilibralents: Not Specified
Debt: Not Specified
Consolidated Results:
Revenue from Operations: ₹0 (Previous Q1: ₹0; QoQ: No change)
Total Income: ₹107.88 (Previous Q1: ₹134.26; YoY: -19.7%)
Net Profit: ₹(1,889.09) loss attributable to owners (Previous Q1: ₹1,10,256.34 profit; YoY: Deterioration)
EPS: ₹(0.20) after exceptional items (Previous Q1: ₹11.80)
Other Equity: ₹(1,04,388.33) as of March 31, 2026
Cash and Cash Equilibralents: Not Specified
Debt: Not Specified
Segment-wise Performance:
The company operates in a single segment: "Infrastructure Development" within India.
Corporate Actions:
No dividend declarations, share splits, bonus issues, buybacks, or capital raising activities announced.
Other Significant Information:
Material Uncertainty Related to Going Concern:
- Standalone: Current liabilities exceed current assets by ₹1,13,130.41 lacs
- Consolidated: Current liabilities exceed current assets by ₹98,551.07 lacs
- Liquidity crunch affecting operations with increasing severity
- Outcome dependent on favorable decisions in outstanding litigations
Litigation Details:
1. Patna Highway Projects Limited (PHPL):
- Supreme Court appeals filed against NCLAT orders (Civil appeals admitted, next date not notified)
- Corporate guarantee of ₹1,19,024.39 lacs invoked by Phoenix ARC but not accounted due to litigation
- Funded exposure: ₹21,294.65 lacs (fully provided)
- Non-funded exposure: ₹1,19,024.39 lacs
2. Rajahmundry Godavari Bridge Limited (RGBL):
- Entire exposure written off
- Recovery proceedings stayed until miscellaneous applications decided (next hearing: September 18, 2026)
3. Indira Container Terminal Private Limited:
- Control transferred to new management, retained 16.29% beneficial interest
- Funded exposure: ₹4,832.94 lacs
- Non-funded exposure: ₹3,500 lacs (bank guarantee)
4. Pravara Renewable Energy Limited:
- Plant illegally occupied by Karkhana, receiver appointed by DRT not reporting transactions
- Entire funded exposure provided, non-funded exposure: ₹19,167.00 lacs
- Statutory auditors disclaimed opinion for FY2024 and FY2025
Exceptional Items:
- Consolidated: Impairment provision of ₹1,883.59 lacs in Sikkim Hydro Power Ventures Limited
- Previous year: Income of ₹31,319.27 lacs from reversal of provision towards SSRPL
Entities in Consolidation:
Includes 18 subsidiaries, 1 associate, and 1 joint venture as listed in Annexure A.