Key Financial Figures - Standalone (Amount in ₹ Million)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹8,832.19 (vs ₹11,537.47 in Q2 FY26, -23.4% YoY)
  • Other income: ₹249.26 (vs ₹165.68 in Q2 FY26)
  • Total income: ₹9,081.45 (vs ₹11,703.15 in Q2 FY26)
  • Total expenses: ₹8,621.08 (vs ₹10,805.27 in Q2 FY26)
  • Profit before exceptional items and tax: ₹460.37 (vs ₹897.88 in Q2 FY26, -48.7% YoY)
  • Exceptional item: Loss of ₹21.23 million (related to subsidiary stake sale)
  • Profit before tax: ₹439.14 (vs ₹897.88 in Q2 FY26, -51.1% YoY)
  • Tax expense: ₹117.83
  • Profit after tax: ₹321.31 (vs ₹673.06 in Q2 FY26, -52.3% YoY)
  • EPS: ₹4.93 (vs ₹10.33 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹17,904.55 (vs ₹28,629.90 in H1 FY26, -37.5% YoY)
  • Profit before tax: ₹805.01 (vs ₹2,571.65 in H1 FY26, -68.7% YoY)
  • Profit after tax: ₹604.03 (vs ₹1,927.75 in H1 FY26, -68.7% YoY)
  • EPS: ₹9.27 (vs ₹29.58 in H1 FY26)

Key Financial Figures - Consolidated (Amount in ₹ Million)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹9,735.87
  • Profit before tax: ₹1,047.15
  • Profit after tax: ₹797.61
  • EPS: ₹12.24

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹20,741.72
  • Profit before tax: ₹1,043.09
  • Profit after tax: ₹352.43
  • EPS: ₹5.41

Subsidiary Divestment Transactions

The Board had previously approved divestment of 100% investment in five wholly-owned subsidiaries on August 13, 2025. The transactions occurred as follows:

Previous Year (FY26):

1. H.G. Khammam Devarapalle PKG-2 Private Limited: 100% stake sold on March 20, 2026 for ₹1,077.70 million, resulting in gain of ₹419.36 million (standalone)/₹145.66 million (consolidated)

2. H.G. Khammam Devarapalle PKG-1 Private Limited: 49% stake sold on March 30, 2026 for ₹682.72 million, resulting in gain of ₹292.07 million (standalone)/₹178.70 million (consolidated)

Previous Quarter (Q1 FY27):

1. H.G. Khammam Devarapalle PKG-1 Private Limited: Remaining 51% stake sold on June 09, 2026 for ₹730.32 million, resulting in gain of ₹323.73 million (standalone)/₹19.73 million (consolidated)

2. H.G. Raipur Visakhapatnam OD-6 Private Limited: 100% stake sold on April 23, 2026 for ₹760.21 million, resulting in gain of ₹41.60 million (standalone)/loss of ₹268.15 million (consolidated)

3. H.G. Raipur Visakhapatnam OD-5 Private Limited: 49% stake sold on June 05, 2026 for ₹1,256.61 million, resulting in loss of ₹64.21 million (standalone)/loss of ₹484.95 million (consolidated)

Current Quarter (Q2 FY27):

1. H.G. Raipur Visakhapatnam OD-5 Private Limited: Remaining 51% stake sold on July 23, 2026 for ₹1,353.55 million, resulting in loss of ₹21.23 million (standalone)

CBI Investigation Disclosure

The Central Bureau of Investigation (CBI), Anti-Corruption Bureau, Patna took four company employees into custody on January 21, 2026, pursuant to an FIR invoking Sections 7, 7A, 8 and 9 of the Prevention of Corruption Act, 1988. The agency conducted searches at company offices and the residence of Chairman and Managing Director Harendra Singh.

  • Cash confiscated: ₹0.77 million from one employee (booked as recoverable) and ₹0.93 million from CMD's residence (personal funds)
  • All four employees have been granted bail
  • No charge sheet filed yet against the company or its employees
  • Based on management assessment, legal opinion, and external firm review, the company concludes no impact on financial results at this stage

Segment Information

The company has one reportable segment (EPC business - roads, railways, solar plants) for standalone results and two reportable segments (EPC business and Renewable business) for consolidated results.

Capital Structure

Paid-up equity share capital remains unchanged at ₹651.71 million (face value ₹10 per share).

Cash Flow Highlights

Standalone (H1 FY27):

  • Net cash from operating activities: ₹185.55 million
  • Net cash from investing activities: ₹1,351.85 million
  • Net cash used in financing activities: ₹1,421.52 million
  • Net increase in cash: ₹115.88 million

Consolidated (H1 FY27):

  • Net cash from operating activities: ₹835.17 million
  • Net cash from investing activities: ₹2,093.27 million
  • Net cash used in financing activities: ₹2,977.14 million
  • Net decrease in cash: ₹48.70 million