Date: August 14, 2026

Financial Results (Consolidated)

Q1FY27 Performance:

  • Total Income: ₹17.5 billion (▼1% YoY; ▼15% QoQ)
  • Revenue (excluding other income): ₹17.1 billion (▲3% YoY; ▼15% QoQ)
  • EBITDA: ₹5.0 billion (▼4% YoY; ▼5% QoQ)
  • EBITDA Margins: 28%
  • Net Profit After Tax (from continuing operations): Loss of ₹354 million (almost unchanged vs Q1FY26)
  • Other Income: ₹440 million (▼63% YoY; ▼31% QoQ), mainly due to reduction in Late Payment Surcharge (LPS) post realization of overdue receivables of Haryana Discom

FY2026 Annual Performance:

  • Total Income: ₹77.5 billion
  • Revenue: ₹73.3 billion
  • EBITDA: ₹20.2 billion
  • EBITDA Margins: 26%
  • PAT: ₹6.1 billion

Energy Business Performance

Kamalanga Power Project (Q1FY27):

  • Total Income: ₹6.9 billion (▼10.8% YoY)
  • PLF: 87% (vs 91% in Q1FY26, 92% in Q4FY26) due to overhauling of Unit-2
  • EBITDA: ₹2.5 billion (▼13.9% YoY)
  • EBITDA Margins: 36% (▼2% YoY)
  • PAT: ₹970 million (vs ₹512 million in Q1FY26)
  • Fuel Consumption: ▼9.7% YoY

Warora Power Project (Q1FY27):

  • Total Income: ₹4.9 billion (▲2% YoY)
  • PLF: 90% (vs 88% in Q1FY26, 91% in Q4FY26)
  • EBITDA: ₹1.8 billion (▲19% YoY)
  • EBITDA Margins: 37% (▲5% YoY)
  • PAT: ₹758 million (vs ₹391 million in Q1FY26)
  • Fuel Consumption: ▼9.4% YoY

Smart Metering Business

Business Overview:

  • GMR Smart Electricity Distribution Private Limited implementing Advanced Metering Infrastructure (AMI) Project
  • Total Contract Value: ₹75.9 billion (incl. GST)
  • Smart Meters: 7.57 million across 22 districts in UP
  • Cumulatively Installed: ~4.1 million smart meters as of 31 July 2026

Project Details:

  • Kashi Project: 2.73 million meters, ₹27.4 billion contract value (PuVVNL)
  • Triveni Project: 2.29 million meters, ₹23.9 billion contract value (PuVVNL)
  • Agra Project: 2.55 million meters, ₹24.7 billion contract value (DVVNL)

Q1FY27 Performance:

  • Revenue: ₹2.3 billion (vs ₹1.85 billion in Q1FY26)
  • Installation timelines extended to 31 March 2028 for all three clusters (Kashi, Triveni, Agra)
  • Received confirmation letters from PVVNL and DuVVNL Discoms for timeline extension

Transportation and Urban Infrastructure Business

Highways Performance (Q1FY27):

  • Ambala-Chandigarh: Daily traffic 43,500 vehicles (▲5.8% YoY)
  • Total Income: ₹260 million
  • EBITDA: ₹170 million
  • PAT: Loss of ₹19 million
  • Net Debt: ₹279 million

Urban Infrastructure - Krishnagiri SIR:

  • Land: ~366 acres
  • ~56 acres under discussion for sale to Tamil Nadu Govt agency
  • Next phase development planned for ~60 acres
  • 20 acres leased to Industrial Client
  • Industrial cluster catering to electronics, automobile, logistics, engineering and aerospace sectors

EPC Division - Dedicated Freight Corridor:

  • Project completed and handed over to DFCCIL
  • Construction of all sections complete and fully operational
  • Total claims: ₹2,829 crore under litigation
  • Claims considered as of 30 Jun'26: ₹506 crore

Debt Position

Consolidated Debt (as of 30 Jun'26):

  • Gross Debt: Decreased by ₹0.8 billion QoQ
  • Net Debt: ₹93.0 billion (increased by ₹1.4 billion QoQ)

Segment-wise Net Debt:

  • Energy Assets: ₹39.9 billion
  • Holdco Energy: ₹15.5 billion
  • Smart Meter: ₹14.4 billion (increased by ₹5.8 billion QoQ)
  • Highway Assets: ₹4.1 billion
  • Corporate: ₹13.1 billion
  • SEZ: ₹2.3 billion

Finance Cost:

  • Q1FY27: ₹3,151 million (Cash) + ₹30 million (Non-Cash) = ₹3,181 million total
  • Q4FY26: ₹3,346 million (Cash) + ₹579 million (Non-Cash) = ₹3,925 million total
  • Q1FY26: ₹3,198 million (Cash) + ₹1,211 million (Non-Cash) = ₹4,409 million total

Strategic Initiatives

Renewable Energy Expansion:

  • Solar Power Project (~26MW AC) under development at Kamalanga
  • Evaluating proposals to develop Solar + Wind Hybrid Power Project in Karnataka and Andhra Pradesh

GPUIL 2.0 Transition:

  • Focus on smart metering and EV charging initiatives
  • Leveraging group synergies with airports for EV charging infrastructure
  • Nearly 3 decades of presence in power sector
  • Strong management team with project management, O&M capabilities

Overdue Receivables:

  • Total overdue accounted receivables: ~₹6.8 billion
  • Energy: ~₹1.8 billion
  • DFCC: ~₹5.0 billion
  • Excluding claims under litigation

ESG Practices

Q1FY27 Achievements:

  • Warora and Kamalanga maintained high operational performance (88% PLF)
  • Warora introduced internal EV fleet for material movement within plant
  • Kamalanga achieved Safety Shield and Five Golden Star Safety Rating
  • Warora received Narayan Meghaji Lokhande Award 2026 (Bronze)
  • GWEL received CII National EHS Excellence Award (Gold)
  • Warora received IMC Ramkrishna Bajaj National Quality Award
  • Through CSR interventions, about 50,000 people positively impacted

Management Systems:

  • ISO 14001: Environmental Management System
  • ISO 50001: Energy Management System
  • ISO 46001: Water Efficiency Management System
  • ISO 14064: GHG emissions accounting
  • ISO 45001: Occupational Health & Safety
  • ISO 27001 & ISO 27701: Information Security & Data Privacy
  • ISO 22301: Business Continuity Management