Financial Results Overview

Standalone Performance (Quarter Ended September 30, 2026):

  • Total Income: ₹63.40 crore (₹6,340.20 lakhs)
  • Revenue from Operations: ₹62.96 crore (₹6,296.03 lakhs)
  • Other Income: ₹0.44 crore (₹44.17 lakhs)
  • Total Expenses: ₹61.19 crore (₹6,119.38 lakhs)
  • Profit Before Tax: ₹2.21 crore (₹220.81 lakhs)
  • Tax Expense: ₹0.04 crore current tax; ₹(0.45) crore deferred tax
  • Net Profit: ₹2.20 crore (₹220.40 lakhs)
  • Basic EPS: ₹0.39; Diluted EPS: ₹0.39

Half-Year Performance (April-September 2026):

  • Total Income: ₹116.14 crore (₹11,614.11 lakhs)
  • Net Profit: ₹4.23 crore (₹422.87 lakhs)
  • Basic EPS: ₹0.38

Audit Qualification Details

Basis of Qualified Conclusion:

The statutory auditors, Bilimoria Mehta & Co., issued a qualified conclusion due to:

  • Inventories include Work-in-Progress (WIP) of ₹77.88 crore (₹7,787.54 lakhs) pertaining to ongoing construction projects
  • Management provided engineering completion certificates but insufficient cost records, cost allocation details, and basis of computation
  • Unable to verify whether WIP correctly valued or if write-down to NRV/provision for obsolescence required
  • Consequential impact on financial results remains unascertainable

Management's Response:

  • Estimates nil impact based on engineering completion certificates and valuations
  • Confident of realizing WIP into revenue within one year
  • Qualification is repeated from previous periods

Segment-wise Performance

Revenue Breakdown (Q2 FY2026):

  • Construction Services: ₹51.53 crore (₹5,152.96 lakhs)
  • Trading Material: ₹1.20 crore (₹119.98 lakhs)
  • Total: ₹52.73 crore (₹5,272.94 lakhs)

Segment Results (Q2 FY2026 Profit before tax and interest):

  • Construction Services: ₹4.25 crore (₹425.34 lakhs)
  • Trading Material: ₹0.02 crore (₹2.40 lakhs)

Financial Position (Standalone as at September 30, 2026)

Assets:

  • Total Assets: ₹530.79 crore (₹53,079.41 lakhs)
  • Non-current Assets: ₹116.28 crore (₹11,627.95 lakhs)
  • Current Assets: ₹414.51 crore (₹41,451.46 lakhs)
  • Inventories: ₹77.88 crore (₹7,787.54 lakhs)
  • Trade Receivables: ₹219.74 crore (₹21,973.69 lakhs)
  • Cash & Cash Equivalents: ₹0.15 crore (₹147.92 lakhs)

Liabilities and Equity:

  • Equity Share Capital: ₹28.49 crore (₹2,849.31 lakhs)
  • Reserves & Surplus: ₹268.74 crore (₹26,873.89 lakhs)
  • Total Equity: ₹297.23 crore (₹29,723.21 lakhs)
  • Borrowings: ₹83.78 crore (₹8,377.91 lakhs total - ₹9.18 crore non-current + ₹74.60 crore current)
  • Trade Payables: ₹92.18 crore (₹9,217.95 lakhs)

Cash Flow Statement (Half-Year Ended September 30, 2026)

  • Net Cash from Operating Activities: ₹(21.93) crore negative (₹2,192.74 lakhs)
  • Net Cash from Investing Activities: ₹0.94 crore positive (₹94.36 lakhs)
  • Net Cash from Financing Activities: ₹20.20 crore positive (₹2,019.60 lakhs)
  • Net decrease in Cash: ₹0.79 crore (₹78.78 lakhs)

Regulatory and Compliance Matters

New Labour Codes Implementation:

  • Government consolidated 29 labour legislations into four Labour Codes effective November 21, 2025
  • Management assessment including actuarial valuation shows no material incremental impact on gratuity obligations
  • No adjustment made in financial results
  • Company evaluating impact on other areas including contract workforce
  • Management does not expect any material impact

Joint Venture Investment:

  • Group has investment in Generic Bootes Constructions LLP with substantial control
  • Share of loss from joint venture: ₹0.0003 crore (₹0.03 lakhs) for Q2 FY2026

Additional Information

  • Financial results reviewed by Audit Committee and approved by Board on November 14, 2026
  • Prepared in accordance with Indian Accounting Standards (Ind AS)
  • Previous period figures regrouped/reclassified for comparability
  • Complete results available on BSE, NSE websites and company website www.gecpl.com