Board Meeting Details

The Board of Directors meeting was held on Tuesday, 11th August, 2026, commencing at 04:00 PM and concluding at 07:15 PM.

Key Decisions Taken

1. Adoption of Financial Results: Approved un-audited financial results (standalone and consolidated) for quarter ended 30th June, 2026

2. Dividend Record Date: Fixed Monday, 17th August, 2026 as record date for final dividend entitlement

3. AGM Convening: 35th Annual General Meeting to be held on Thursday, 10th September, 2026 through Video Conferencing/Other Audio Visual Means

Financial Results - Standalone (₹ in Crores)

Income Statement:

  • Revenue from Operations: ₹133.43 (Q1 FY27) vs ₹130.90 (Q1 FY26)
  • Casino Gaming: ₹116.88
  • Hospitality: ₹16.55
  • Other Income: ₹20.57
  • Total Income: ₹154.00
  • Total Expenses: ₹102.90
  • Profit Before Exceptional Items and Tax: ₹51.10
  • Exceptional Item: ₹(200.62) (GST provision)
  • Profit Before Tax: ₹(149.52)
  • Tax Expense (Net): ₹(40.25)
  • Net Loss for Quarter: ₹(109.27)
  • Other Comprehensive Income: ₹14.78
  • Total Comprehensive Loss: ₹(94.49)

Key Metrics:

  • Basic & Diluted EPS: ₹(4.08)
  • Paid-up Equity Share Capital: ₹26.78 crores (face value ₹1 per share)

Financial Results - Consolidated (₹ in Crores)

Income Statement:

  • Revenue from Operations: ₹168.55
  • Casino Gaming: ₹151.85
  • Hospitality: ₹16.55
  • Others: ₹0.43
  • Other Income: ₹9.59
  • Total Income: ₹178.14
  • Total Expenses: ₹150.40
  • Profit Before Exceptional Items and Tax: ₹27.74
  • Exceptional Item: ₹(306.73) (GST provision)
  • Share of Profit from Associates/JVs: ₹(0.80)
  • Profit Before Tax: ₹(279.79)
  • Tax Credit (Net): ₹(67.22)
  • Net Loss for Quarter: ₹(212.42)
  • Other Comprehensive Income: ₹12.85
  • Total Comprehensive Loss: ₹(199.57)

Key Metrics:

  • Basic & Diluted EPS: ₹(7.93)
  • Paid-up Equity Share Capital: ₹26.78 crores

GST Provision Details

The Company recognized an exceptional item of ₹200.62 crore (standalone) and ₹306.73 crore (consolidated) for GST liability following Supreme Court judgment dated 27th May 2026:

Background:

  • Received show cause notices for alleged GST short payment:
  • ₹16,822.98 crore for period July 2017 - March 2022 (Company + 2 subsidiaries)
  • ₹6,384.32 crore for Deltatech Gaming (erstwhile associate)
  • ₹1,752.39 crore for period April 2022 - March 2023
  • Writ petitions filed and stay obtained from High Courts
  • Supreme Court transferred all industry cases and pronounced judgment on 27th May 2026

Provision Calculation:

  • Estimated GST payable: ₹95.04 crore (standalone), ₹143.89 crore (consolidated)
  • Interest: ₹96.08 crore (standalone), ₹148.45 crore (consolidated)
  • Penalty: ₹9.50 crore (standalone), ₹14.39 crore (consolidated)
  • Total provision: ₹200.62 crore (standalone), ₹306.73 crore (consolidated)

Mixed Supply Matter:

GST authorities raised issues regarding alleged mixed supply of casino access, food, beverages, liquor and feeder services. Company believes it has strong grounds to contest these allegations and no provision has been made.

Dividend Information

  • Final dividend of ₹0.50 per share recommended by Board on 22nd April 2026
  • Subject to shareholder approval at AGM on 10th September 2026
  • Record date fixed as 17th August 2026 for entitlement

Operational Updates

1. Casino Closure: Closed Deltin Denzong Casino, Sikkim to improve operational efficiency

2. King Casino: Not operational during quarter as vacated Mandovi River location for new vessel deployment. Requires Bombay High Court permission before new vessel operations

3. Acquisitions: Completed acquisition of Shanta Infratech Private Limited and Easymile Parking Solutions & Management Private Limited on 30th April 2026

Legal Proceedings

1. Slot Machines License: Writ Petition No. 317 of 2019 dismissed by Bombay High Court on 29th April 2026. Special leave petition filed in Supreme Court

2. Online Gaming Investments: Investments in Deltatech Gaming Limited, Head Digital Works Private Limited and Openplay Technologies Private Limited fully impaired due to Promotion and Regulation of Online Gaming Act, 2025

Corporate Actions

Revised Composite Scheme of Arrangement among Delta Corp Limited, Deltin Hotel & Resorts Private Limited, Delta Penland Limited and Deltin Cruises and Entertainment Private Limited. NCLT directed meetings of shareholders and creditors on 13th August 2026, proposed effective date 1st April 2025.

Auditor's Qualification

Walker Chandiok & Co LLP issued unmodified review report but drew attention to GST provision matter. For consolidated results, did not review 9 subsidiaries representing revenues of ₹35.40 crore and net loss of ₹(87.16) crore.