Board Meeting Outcomes

The Board of Directors meeting held on November 03, 2026 (commencing at 4:00 PM IST and concluding at 7:55 PM IST) approved the following:

1. Unaudited Standalone & Consolidated Financial Results together with Limited Review Report for Quarter and Half-year ended September 30, 2026

2. Related Party Transactions as per regulation 23 of SEBI LODR Regulations for half year period from April 01, 2026 to September 30, 2026

3. Reconstitution of Committees of the Board

4. Any other matter with permission of the Chairperson

Standalone Financial Performance (Rs. in Crores)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: Rs. 243.84 crore (Q1 FY27: Rs. 251.46 crore, Q2 FY26: Rs. 150.84 crore)
  • Other income: Rs. 4.73 crore (Q1 FY27: Rs. 3.72 crore, Q2 FY26: Rs. 4.37 crore)
  • Total income: Rs. 248.57 crore (Q1 FY27: Rs. 255.18 crore, Q2 FY26: Rs. 155.21 crore)
  • Total expenses: Rs. 233.04 crore (Q1 FY27: Rs. 235.91 crore, Q2 FY26: Rs. 145.04 crore)
  • Profit before tax: Rs. 15.53 crore (Q1 FY27: Rs. 19.27 crore, Q2 FY26: Rs. 10.17 crore)
  • Tax expense: Rs. 0.16 crore (deferred tax)
  • Net profit: Rs. 15.37 crore (Q1 FY27: Rs. 19.46 crore, Q2 FY26: Rs. 9.72 crore)
  • EPS (Basic): Rs. 0.1287 (Q1 FY27: Rs. 0.1631, Q2 FY26: Rs. 0.0817)
  • EPS (Diluted): Rs. 0.1286 (Q1 FY27: Rs. 0.1629, Q2 FY26: Rs. 0.0815)

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: Rs. 495.30 crore (H1 FY26: Rs. 307.03 crore)
  • Other income: Rs. 8.45 crore (H1 FY26: Rs. 10.58 crore)
  • Total income: Rs. 503.75 crore (H1 FY26: Rs. 317.61 crore)
  • Total expenses: Rs. 468.95 crore (H1 FY26: Rs. 297.20 crore)
  • Profit before tax: Rs. 34.80 crore (H1 FY26: Rs. 20.41 crore)
  • Tax expense: Rs. (0.03) crore (deferred tax credit)
  • Net profit: Rs. 34.83 crore (H1 FY26: Rs. 20.88 crore)
  • EPS (Basic): Rs. 0.2918 (H1 FY26: Rs. 0.1755)
  • EPS (Diluted): Rs. 0.2916 (H1 FY26: Rs. 0.1751)

Expense Breakdown (H1 FY27)

  • Cost of materials consumed: Rs. 221.68 crore
  • Change in inventories: Rs. (7.99) crore
  • Erection and sub-contracting expenses: Rs. 136.45 crore
  • Employee benefit expenses: Rs. 50.27 crore
  • Finance cost: Rs. 5.14 crore
  • Depreciation and amortization: Rs. 7.19 crore
  • Other expenses: Rs. 56.21 crore (net of foreign exchange gains, write-off/write-back adjustments)

Capital Structure

  • Paid-up equity share capital: Rs. 238.73 crore (face value INR 2/- each)
  • Other equity: Rs. 218.19 crore (as at Sep 30, 2026) vs Rs. 260.60 crore (Mar 31, 2026)

Consolidated Financial Performance (Rs. in Crores)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: Rs. 243.84 crore
  • Other income: Rs. 4.73 crore
  • Total income: Rs. 248.57 crore
  • Total expenses: Rs. 233.00 crore
  • Profit before tax: Rs. 15.57 crore
  • Tax expense: Rs. 0.16 crore
  • Net profit attributable to owners: Rs. 15.41 crore
  • EPS (Basic): Rs. 0.1291
  • EPS (Diluted): Rs. 0.1290

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: Rs. 495.30 crore
  • Other income: Rs. 8.45 crore
  • Total income: Rs. 503.75 crore
  • Total expenses: Rs. 468.91 crore
  • Profit before tax: Rs. 34.84 crore
  • Tax expense: Rs. (0.03) crore
  • Net profit attributable to owners: Rs. 34.87 crore
  • EPS (Basic): Rs. 0.2921
  • EPS (Diluted): Rs. 0.2919

Balance Sheet Position (Standalone as at Sep 30, 2026)

Assets (Rs. in Crores)

  • Total assets: Rs. 3,074.08 crore (Mar 31, 2026: Rs. 2,913.09 crore)
  • Non-current assets: Rs. 90.61 crore (Property, plant and equipment: Rs. 75.36 crore)
  • Current assets: Rs. 2,983.47 crore (Inventories: Rs. 176.42 crore, Trade receivables: Rs. 2,316.51 crore, Cash and cash equivalents: Rs. 128.18 crore)

Liabilities and Equity (Rs. in Crores)

  • Total equity: Rs. 456.92 crore (Mar 31, 2026: Rs. 499.33 crore)
  • Non-current liabilities: Rs. 2,054.25 crore (Long-term borrowings: Rs. 2,004.58 crore)
  • Current liabilities: Rs. 562.91 crore (Short-term borrowings: Rs. 169.69 crore, Trade payables: Rs. 193.26 crore)

Cash Flow Statement (Standalone H1 FY27)

  • Net cash from operating activities: Rs. 32.83 crore
  • Net cash used in investing activities: Rs. (8.77) crore
  • Net cash from financing activities: Rs. 6.79 crore
  • Net increase in cash and equivalents: Rs. 30.85 crore
  • Cash and equivalents at period end: Rs. 128.18 crore

Borrowings Position (Standalone)

  • Short-term borrowings: Rs. 169.69 crore (Sep 30, 2025: Rs. 23.00 crore)
  • Long-term borrowings: Rs. 2,004.58 crore (Sep 30, 2025: Rs. 1,934.65 crore)
  • Total borrowings: Rs. 2,174.27 crore (Sep 30, 2025: Rs. 1,957.65 crore)

Auditor's Limited Review Report

SARC & Associates, Chartered Accountants (Firm Regn No: 006085N) issued limited review reports on both standalone and consolidated financial results with unmodified opinion but with following qualifications:

Key Reliance Areas:

1. Management representations regarding existence and valuation of all assets and liabilities

2. Trade receivables reconciliation process not yet completed - company made provision of Rs. 15.75 crore for expected credit loss

3. Inclusion of unaudited management accounts of 5 branches and audited accounts of 2 branches (Tunisia and Uganda)

Branch Operations Summary (7 project sites):

  • Total income: Rs. 9.79 crore
  • Total expenditure: Rs. 0.14 crore
  • Total profit including other comprehensive income: Rs. 10.95 crore
  • Total assets: Rs. 229.37 crore (Trade receivables: Rs. 218.57 crore)
  • Total liabilities: Rs. 14.15 crore

Subsidiary Matters:

  • Financial results include 4 subsidiaries with total revenues NIL, net profit Rs. 0.04 crore, total assets Rs. 21.64 crore
  • Several overseas subsidiaries have fully eroded net worth due to accumulated losses
  • Investments in impaired subsidiaries: Jyoti Energy Limited (Rs. 0.05 crore), JSL Corporate Services Limited (Rs. 3.50 crore), Jyoti Structures FZE (Rs. 3.17 crore)

Related Party Transactions (H1 FY26)

Total transactions worth Rs. 2.50 crore with related parties including:

  • Director sitting fees: Rs. 0.24 crore to various directors
  • Executive compensation: Rs. 1.79 crore to key managerial personnel
  • Professional fees: Rs. 0.48 crore to Mr. Rajendra Prasad Singh

Committee Reconstitution

Nomination and Remuneration Committee:

1. Dr. Govind Prasad Saha - Chairperson

2. Mrs. Monica Akhil Chaturvedi - Member

3. Mr. Abhinav Rishi Angirish - Member

Risk Management Committee:

1. Mr. Raajeev B Batra - Chairperson

2. Mr. Anil Jain - Member

3. Dr. Govind Prasad Saha - Member

Compliance Declaration

The company declared that statutory auditors issued limited review report with unmodified opinion on both standalone and consolidated unaudited financial results for quarter and half year ended September 30, 2026.