Standalone Financial Results (Half-Year Ended September 30, 2026):
Revenue from Operations: ₹51,868.22 lakhs
Other Income (net): ₹58.39 lakhs
Total Income: ₹51,926.61 lakhs
Total Expenses: ₹48,166.88 lakhs
Profit Before Tax: ₹3,759.73 lakhs
Total Tax Expense: ₹795.82 lakhs
Net Profit After Tax: ₹2,963.91 lakhs
Earnings Per Share (Basic): ₹4.09; (Diluted): ₹3.86
Consolidated Financial Results (Quarter Ended September 30, 2026):
Revenue from Operations: ₹30,008.29 lakhs
Other Income (net): ₹30.07 lakhs
Total Income: ₹30,038.36 lakhs
Total Expenses: ₹27,941.82 lakhs
Profit Before Tax: ₹2,096.54 lakhs
Total Tax Expense: ₹368.55 lakhs
Net Profit After Tax: ₹1,727.99 lakhs
Share in profit/(loss) of joint ventures: ₹9.97 lakhs
Net profit attributable to owners: ₹1,737.96 lakhs
Earnings Per Share (Basic): ₹2.31; (Diluted): ₹2.11
Consolidated Financial Results (Half-Year Ended September 30, 2026):
Revenue from Operations: ₹51,868.22 lakhs
Other Income (net): ₹58.39 lakhs
Total Income: ₹51,926.61 lakhs
Total Expenses: ₹48,649.66 lakhs
Profit Before Tax: ₹3,276.95 lakhs
Total Tax Expense: ₹795.82 lakhs
Net Profit After Tax: ₹2,481.13 lakhs
Share in loss of joint ventures: ₹(6.74) lakhs
Net profit attributable to owners: ₹2,474.39 lakhs
Earnings Per Share (Basic): ₹3.43; (Diluted): ₹3.24
Dates of Action
Board Meeting: October 22, 2026 (commenced at 4:30 PM, concluded at 6:45 PM)
CFO Appointment: Effective October 22, 2026
Independent Director Resignation: Effective close of business hours on October 22, 2026
Warrant Conversion: Approved by Executive Committee on August 27, 2026
AGM: 49th Annual General Meeting held on September 25, 2026
Parties Involved
Statutory Auditors: Manubhai & Shah LLP
New CFO: Mr. Salim Yahoo
Resigning Director: Mr. Ravi Kumar Seth (DIN:02427404)
Promoter Entity: JHV Commercials LLP
Subsidiaries: GHV Infra FZ-LLC (wholly owned), GHV Infra Inc. (wholly owned)
Joint Ventures: GHV Infra Projects-RKS-TCIPL, GHV Infra Projects-BIL
UAE Contract Counterparty: Rana Exim FZ-LLC
Purpose/Rationale
The board meeting was held to approve financial results and address key managerial changes.
Mr. Salim Yahoo was appointed CFO based on recommendations from the Nomination and Remuneration Committee and Audit Committee.
Mr. Ravi Kumar Seth resigned due to pre-occupation and other professional commitments.
Capital Structure Impact
Conversion of 16,16,667 convertible warrants from promoter JHV Commercials LLP resulted in allotment of 83,33,335 equity shares (face value ₹5 each).
Paid-up equity share capital increased from ₹3,603.75 lakhs to ₹4,020.42 lakhs.
Balance 21,83,333 warrants remain pending for conversion as of September 30, 2026.
Reclassification of Mrs. Husena A. Musamji (holding 37,50,000 shares, 5.20% stake) from 'Promoter and Promoter Group' to 'Public' category approved at AGM.
Contingent Exposure
EPC Contract for Erisha Smart Manufacturing Hub at RAKEZ, Ras Al Khaimah, UAE concluded in fourth week of September 2026 due to prolonged delays in project approvals and geopolitical uncertainties in West Asia.
Financial implications cannot be determined with reasonable certainty at this stage.
No provision or adjustment recognized in financial results as no financial statement impact identified.
Matter remains contingent pending ongoing discussions and legal proceedings.
Cash Flow Implications
Standalone (Half-Year Ended September 30, 2026):
Net cash used in operating activities: ₹(24,436.77) lakhs
Net cash used in investing activities: ₹(868.75) lakhs
Net cash from financing activities: ₹24,546.80 lakhs
Net decrease in cash: ₹(758.72) lakhs
Consolidated (Half-Year Ended September 30, 2026):
Net cash used in operating activities: ₹(24,677.20) lakhs
Net cash used in investing activities: ₹(629.96) lakhs
Net cash from financing activities: ₹24,548.33 lakhs
Net decrease in cash: ₹(758.83) lakhs
Forward-Looking Information
The company will continue to monitor developments regarding the UAE contract and reassess its position at each reporting date.
Appropriate disclosures and recognition of any financial impact will be made when the outcome becomes reasonably ascertainable.
