Significant Event - CIRP Withdrawal & OTS Settlement
Corporate Insolvency Resolution Process (CIRP) was initiated against the company effective 15th November 2022 per NCLT order. The Committee of Creditors (97.21% voting share) approved a One-Time Settlement proposal from promoters, leading to NCLT Hyderabad approving withdrawal of CIRP on 10th September 2025 under Section 12A of IBC. The OTS terms included a fund-based offer of ₹750 crore plus continuing guarantee on non-fund based limits of ₹1,229 crore. The company paid entire fund-based amounts to consortium lenders, with the difference of ₹238,400.10 lakhs between outstanding dues and amount paid recognized as exceptional gain.
Financial Performance Highlights (Standalone - ₹ in Lakhs)
| Metric | FY 2025-26 | FY 2024-25 | Change |
| Revenue from Operations | 84,689 | 44,992 | +88.2% |
| Profit Before Tax | 2,08,076 | (6,880) | Turnaround |
| Profit After Tax | 2,04,695 | (6,880) | Turnaround |
| EBITDA | 1,049 | 252 | +316.3% |
| Net Worth | 57,900 | (1,47,291) | Turnaround |
| EPS (Basic) (₹) | 109.35 | (3.68) | Turnaround |
Exceptional Items & Debt Reduction
- Gain of ₹1,98,567.80 lakhs recognized from One-Time Settlement (OTS) of debts
- Impairment provision of ₹13,342.95 lakhs on investment in Gayatri Hitech Hotels Limited
- Write-off of ₹13,411.00 lakhs in subordinate debt to associate company
- Standalone borrowings reduced from ₹401,312.47 lakhs (Mar 2025) to ₹61,984.55 lakhs (Mar 2026)
- Consolidated borrowings reduced from ₹362,562.68 lakhs (Mar 2025) to ₹31,135.43 lakhs (Mar 2026)
Operational Performance & Capital Structure
Revenue from operations increased by 88.23% to ₹846.89 crores, with profit before exceptional items at ₹95.08 crores compared to loss of ₹40.62 crores previous year. The company increased authorized share capital from ₹80 crore to ₹120 crore and completed preferential allotment of 27,71,00,315 equity shares of ₹2 each at ₹10 per share post-year end, increasing paid-up capital to ₹92.86 crore.
Board & Management Changes
Post-CIRP withdrawal on 13th September 2025, the board was reconstituted with Mr. T.V. Sandeep Kumar Reddy as Chairman & Managing Director and Mrs. T. Sarita Reddy as Executive Director. Key managerial appointments included Mr. N. Seshagiri Rao as CFO and Mr. Shashank Jain as Company Secretary.
AGM Details & Related Party Transactions
The 37th Annual General Meeting is scheduled for 28th September 2026 with seven special resolutions including:
- Ratification of remuneration to Cost Auditors
- Approval for ₹150 crore unsecured loan from Gayatri Highways Limited (Related Party)
- Sale of 7,82,87,796 preference shares in Gayatri Hitech Hotels Limited to Gayatri Hotel Ventures Private Limited for ₹34.01 crores
- Approval of material related party transactions with Joint Ventures during CIRP period
Auditor's Report & Key Audit Matters
Emphasis matters included impairment provision on CCCPS investment, write-off of subordinate debt, and delayed recovery of work advances. Key audit matters focused on revenue recognition from construction contracts using percentage of completion method and accounting treatment of the OTS settlement.
Compliance Status & Future Outlook
The company complied with pending SEBI LODR requirements post-CIRP withdrawal and resumed normal operations. Future focus includes business revival, operational strengthening, and leveraging experience in infrastructure sector across roads, irrigation, water distribution, mining and industrial construction.