Key Quantitative Figures

Standalone Financials (₹ in lakhs):

  • Q4 FY26 Total Income: ₹512.35
  • Q4 FY26 Total Expenses: ₹1,749.84
  • Q4 FY26 Net Loss: ₹239.62
  • FY26 Total Income: ₹5,205.83
  • FY26 Total Expenses: ₹3,121.29
  • FY26 Net Profit: ₹2,052.07
  • Paid-up Equity Share Capital: ₹4,793.04 (Face Value ₹2 per share)
  • Earnings/(Loss) Per Share (Basic & Diluted): (₹0.10) for Q4 FY26, ₹0.86 for FY26

Consolidated Financials (₹ in lakhs):

  • Q4 FY26 Total Income: ₹512.35
  • Q4 FY26 Total Expenses: ₹1,749.84
  • Q4 FY26 Net Profit: ₹689.94
  • FY26 Total Income: ₹5,205.83
  • FY26 Total Expenses: ₹3,121.29
  • FY26 Net Loss: ₹122.46
  • Earnings/(Loss) Per Share (Basic & Diluted): ₹0.29 for Q4 FY26, (₹0.05) for FY26

Dates of Action/Approval

  • Board Meeting Date: 25th May 2026
  • Meeting Commencement: 12:13 PM
  • Meeting Conclusion: 3:40 PM
  • Financial Period: Quarter and Year ended 31st March 2026
  • Audit Committee Review Date: 25th May 2026

Parties Involved

  • Statutory Auditors: M/s. PRSV & Co. LLP, Chartered Accountants
  • Subsidiaries: Indore Dewas Tollways Limited, Balaji Highways Holding Private Limited
  • Jointly Controlled Entities: Cyberabad Expressways Limited, Hyderabad Expressways Limited, HKR Roadways Limited, Gayatri Jhansi Roadways Limited, Gayatri Laltpur Roadways Limited
  • Lenders: IL&FS Financial Services Limited (defaulted loan)
  • Counterparty for Stake Sale: Cube Highways and Infrastructure V Pte Limited

Financial Impact Disclosed

Auditor Qualifications and Their Impact:

1. Gayatri Projects Limited (GPL) Loan Write-back Issue:

  • ₹4,476.51 lakh potentially overstated in equity and understated in liabilities
  • Additional ₹339.61 lakh discrepancy in non-interest-bearing loan confirmation

2. IL&FS Financial Services Default:

  • Defaulted term loan: ₹3,822.65 lakh
  • Defaulted accumulated interest: ₹1,193.21 lakh (recognized till 31st March 2023)
  • Unprovided interest for April 2023-March 2026 period: ₹1,720.20 lakh (calculated at 15% p.a.)

3. Impairment Requirements:

  • Cyberabad Expressways Limited: Full impairment of ₹4,483.60 lakh exposure required
  • Hyderabad Expressways Limited: Impairment of ₹462.82 lakh required
  • Total potential impairment impact: ₹4,946.42 lakh

Capital Structure Impact

  • No change in paid-up equity share capital of ₹4,793.04 lakh
  • Other equity showed negative balance of ₹(21,965.02) lakh as of 31st March 2026 (standalone)

Cash Flow Implications

Standalone Cash Flows (₹ in lakhs):

  • Net cash from operating activities: ₹(2,709.20) for FY26
  • Net cash from investing activities: ₹5,633.61 for FY26
  • Net cash from financing activities: ₹(3,218.17) for FY26
  • Net decrease in cash and cash equivalents: ₹(292.73) for FY26
  • Cash and cash equivalents at end of period: ₹1,255.90 lakh

Strategic Updates

1. HKR Roadways Stake Sale:

  • Agreement dated 12th February 2026 to sell entire stake to Cube Highways and Infrastructure V Pte Limited
  • Expected completion date: 30th June 2026, subject to pre-disbursement conditions
  • Investment reclassified as 'held for sale' under Ind AS 105

2. Subsidiary Status:

  • Indore Dewas Tollways Limited under Corporate Insolvency Resolution Process (CIRP) since 31st October 2023
  • Liquidator appointed, financials included only up to 30th October 2023

3. Labour Code Implementation:

  • Government notified new Labour Codes effective November 21, 2025
  • Company assessed impact as not material and accounted for in FY26 results

Forward-looking Guidance

No explicit forward-looking guidance or management commentary provided in the disclosure.

Material Changes

  • Default in repayment of term loan and interest amounting to ₹5,015.86 lakh outstanding as of 31st March 2026
  • Significant auditor qualifications impacting the financial statements by approximately ₹4,946.42 lakh
  • Change in accounting treatment for HKR Roadways investment to 'held for sale'

Additional Information

  • The company primarily engages in construction, investment, operations and maintenance of roads, highways, bridges, tunnels and toll roads on BOT, BOOT, BOLT, EPC basis
  • Operating segment: Single reportable business segment (roads and highways)
  • Geographical segment: India only
  • Previous year figures have been regrouped/reclassified for comparability