Financial Performance
GMR Airports Limited reported consolidated Q2 FY26 net profit of ₹65.38 crore on revenue of ₹4,188.49 crore, with EBITDA at ₹1,568.57 crore. For H1 FY26, the company achieved profit after tax of ₹213.34 crore compared to a loss of ₹102.05 crore in the previous year. Key financial ratios show debt equity ratio of (33.25) times, debt service coverage ratio of 0.57 times, and operating profit margin of 38.30%.
Board and Management Changes
The Board appointed Mr. Sanjeev Gupta as Executive Director and Deputy CEO effective October 29, 2026, and accepted the resignation of Mr. Alexis Benjamin Riols as Non-Executive Director effective October 28, 2026, citing professional commitments. Mr. Grandhi Kiran Kumar was confirmed as Whole-time Director with remuneration of ₹2.69 crore per year.
Related Party Transactions
The company disclosed extensive related party transactions totaling ₹1,118.58 crore for the period, including ₹69.93 crore dividend received from GMR Hyderabad International Airport Limited. Significant transactions include interest received of ₹68.6 crore from GMR Power And Urban Infra Limited, sales of ₹27.02 crore to GMR Hyderabad International Airport, and investments in subsidiaries totaling ₹30,304.85 crore. Outstanding loans to related parties stood at ₹4,139.64 crore.
Regulatory Compliance and Fund Utilization
The company confirmed full utilization of ₹500 crore Non-Convertible Bonds proceeds without deviation from the offer document. The disclosure complies with SEBI Listing Regulations (Regulation 30, 33, 51, 52) and includes detailed annexures covering financial results, director appointments, and related party transactions.
Legal and Operational Matters
Auditors highlighted ongoing litigation between Delhi International Airport Limited (DIAL) and Airports Authority of India regarding Monthly Annual Fee for March 2020 to February 2022. The Arbitral Tribunal ruled in favor of DIAL, upheld by Delhi High Court, with AAI's appeal scheduled for hearing on December 3, 2026. Other significant matters include ongoing tariff regulation discussions with AERA and useful life assessment changes reducing depreciation by ₹150.97 crore annually.
Capital Structure
The equity share capital increased to ₹1,066.10 crore as of September 30, 2026, due to allotment of 10.2 crore equity shares against conversion of Optionally Convertible Redeemable Preference Shares from GMR Infra Services Private Limited.