Key Quantitative Figures

Standalone Financial Results (Amounts in ₹ Lakhs):

Quarter Ended March 31, 2026:

  • Total Income: 15,677.23
  • Revenue from Operations: 14,351.55
  • Other Income: 1,325.68
  • Total Expenses: 14,233.11
  • Profit Before Tax: 1,444.12
  • Tax Expense: 400.88 (Current: 404.47, Deferred: 1.30, Excess Provision: -5.89)
  • Profit for Period: 1,044.24
  • EPS (Basic & Diluted): ₹0.43

Year Ended March 31, 2026:

  • Total Income: 42,552.58
  • Revenue from Operations: 40,271.41
  • Other Income: 2,281.17
  • Total Expenses: 39,437.31
  • Profit Before Tax: 3,115.27
  • Tax Expense: 828.98 (Current: 825.00, Deferred: 8.87, Excess Provision: -5.89)
  • Profit for Period: 2,287.29
  • EPS (Basic & Diluted): ₹0.93
  • Paid-up Equity Share Capital: 2,881.72
  • Other Equity: 53,060.48
  • Debt Equity Ratio: 0.01

Consolidated Financial Results (Amounts in ₹ Lakhs):

Quarter Ended March 31, 2026:

  • Total Income: 16,839.36
  • Revenue from Operations: 15,840.66
  • Other Income: 998.70
  • Total Expenses: 12,343.80
  • Profit Before Tax: 4,495.56
  • Tax Expense: 1,258.96 (Current: 1,278.40, Deferred: -14.55, Excess Provision: -5.89)
  • Profit for Period: 3,237.60
  • Share of Profit of Associates: 0.14
  • EPS (Basic & Diluted): ₹1.32

Year Ended March 31, 2026:

  • Total Income: 59,585.15
  • Revenue from Operations: 57,957.55
  • Other Income: 1,627.59
  • Total Expenses: 53,630.28
  • Profit Before Tax: 5,954.87
  • Tax Expense: 1,686.06 (Current: 1,698.93, Deferred: -6.98, Excess Provision: -5.89)
  • Profit for Period: 4,268.81
  • Share of Profit of Associates: 0.48
  • EPS (Basic & Diluted): ₹1.74
  • Paid-up Equity Share Capital: 2,881.72
  • Other Equity: 59,503.90
  • Debt Equity Ratio: 0.64

Dates of Action

  • Board Meeting Date: May 26, 2026 (12:00 Noon to 06:30 P.M.)
  • Financial Period Ended: March 31, 2026
  • Auditor's Report Date: May 26, 2026

Parties Involved

  • Statutory Auditors: VMRS & Co., Chartered Accountants (FRN: 122750W)
  • Cost Auditor: N. Ritesh & Associates (Ritesh N. Talati, FCMA)
  • Target Company: Gammon Engineers and Contractors Private Limited (GECPL)
  • Stock Exchange: National Stock Exchange of India Limited (NSE)

Board Decisions and Rationale

1. Approval of Financial Results: Board considered and approved standalone & consolidated audited financial results for quarter and year ended March 31, 2026, along with unmodified auditor's report.

2. Appointment of Cost Auditor: Approved appointment of N. Ritesh & Associates as Cost Auditor for FY 2026-27 pursuant to Section 148 of Companies Act, 2013.

3. NSE Listing Proposal: Re-approved proposal for listing securities on NSE Main Board, subject to fulfilment of eligibility criteria and regulatory approvals. Previous approval dated May 30, 2025 could not be implemented due to capital structure fluctuations from warrant conversions.

4. Withdrawal of Gammon Acquisition Offer: Approved withdrawal of binding offer for acquisition of EPC business of Gammon Engineers and Contractors Private Limited, originally submitted in August 2025. Rationale: Proposed acquisition and target operations no longer considered viable.

Financial Impact

  • Financial results represent actual audited performance for FY2026
  • NSE listing proposal has no immediate financial impact pending approvals
  • Gammon acquisition withdrawal terminates potential acquisition liability
  • Cost auditor appointment involves standard professional fees

Capital Structure Impact

  • Paid-up equity share capital increased from ₹2,230.12 lakhs (March 2025) to ₹2,881.72 lakhs (March 2026) due to conversion of share warrants
  • No further capital structure changes announced

Cash Flow Implications

As per audited cash flow statements:

Standalone (₹ Lakhs):

  • Net Cash from Operating Activities: 29,508.85
  • Net Cash Used in Investing Activities: (39,483.84)
  • Net Cash from Financing Activities: 9,772.11
  • Net Decrease in Cash: (202.88)

Consolidated (₹ Lakhs):

  • Net Cash from Operating Activities: 9,729.14
  • Net Cash Used in Investing Activities: (43,979.39)
  • Net Cash from Financing Activities: 33,888.99
  • Net Decrease in Cash: (361.26)

Subsidiaries and Associates Included in Consolidation

1. Hazoor Infra Projects Private Limited (Wholly Owned Subsidiary)

2. Square Port Shipyard Private Limited (Wholly Owned Subsidiary)

3. Hazoor New and Renewable Energy Private Limited (Wholly Owned Subsidiary)

4. Rappture Projects Private Limited (Associate Company)

5. HMPL-SBD-SAS-JV (Joint Venture)