Board Meeting Details

The Board of Directors of PBA Infrastructure Limited met on 13th August 2026, commencing at 4:00 p.m. and concluding at 11:50 p.m. The meeting considered and approved the following matters:

Financial Results Approval

  • Approved the unaudited Financial Results for the quarter ended 30th June 2026, pursuant to Regulation 33 of SEBI LODR Regulations, 2015
  • The results were accompanied by a Limited Review Report issued by the statutory auditors

Annual General Meeting Arrangements

  • Approved Notice convening the 52nd Annual General Meeting (AGM) together with Board's Report and annexures for FY ended 31st March 2026
  • Approved date, day, time and mode of conducting the 52nd AGM:
  • Date and Day: Saturday, 26th September 2026
  • Time: 4:00 p.m.
  • Mode: Through Video Conferencing (VC) / Other Audio-Visual Means (OAVM)

Book Closure and Record Date

  • Register of Members and Share Transfer Books will remain closed from 20th September 2026 to 26th September 2026 (both days inclusive)
  • Record Date: 19th September 2026 for determining eligibility of members for the 52nd AGM

Scrutinizer Appointment

  • Appointed M/s. J C Associates, Practicing Company Secretaries, represented by Ms. Jacintha Castelino (Membership No. 9798, COP No. 12162) as scrutinizer
  • To scrutinize remote e-voting process and e-voting/poll at the 52nd AGM

Director Re-appointment

  • Approved subject to member approval, the re-appointment of Mrs. Pooja Ketan Gandhi (DIN: 09440681) as Non-Executive Independent Director
  • Second term of five consecutive years commencing from 29th December 2026

Statement of Deviation or Variation

  • Disclosure under Regulation 32(1) of SEBI LODR Regulations read with SEBI Circular CIR/CFD/CMD1/162/2019 dated 24th December 2019 not applicable
  • Company did not raise any funds through public issue, rights issue, preferential issue, QIP, or any other applicable issue during the quarter

Financial Results Summary (Standalone)

Quarter Ended 30.06.2026 (₹ in Lakhs):

  • Total Income: 0.00
  • Total Expenses: 118.08
  • Profit/Loss before tax: (118.08)
  • Tax expense: 0.00
  • Profit/Loss for the period: (118.08)
  • Total Comprehensive Income: (118.08)
  • Attributable to owners: (64.94)
  • Non-controlling interest: (53.13)
  • Basic & Diluted EPS: (0.87)

Comparative Figures:

  • Quarter Ended 30.06.2025: Net Loss of (34.86) lakhs, EPS (0.26)
  • Year Ended 31.03.2026: Net Loss of (8,201.75) lakhs, EPS (60.75)

Limited Review Report - Qualified Opinion

Statutory auditors N K Mittal & Associates issued a qualified limited review report with the following observations:

Basis for Qualified Opinion:

1. Default in Lender Obligations: Company has defaulted in repayment of obligations towards lenders with ₹315.15 Crores overdue as per SARFAESI Notice. Subsequent consortium meeting confirmed outstanding book liability dues aggregating to ₹214.59 Crore from four banks:

  • Union Bank of India: ₹35.78 Crore
  • Karur Vyasya Bank: ₹13.63 Crore
  • Punjab and Sindh Bank: ₹14.19 Crore
  • Canara Bank: ₹150.99 Crore

2. SBI Settlement: State Bank of India received ₹26.50 crore towards settlement and issued NOC, outside consortium exposure

3. Auction Advertisement: Bank advertised e-auction stating outstanding as ₹205.10 crore as on 31/12/2025

4. Shriram Finance Settlement: Loan of ₹2.18 Crore settled under OTS Scheme

5. Legal Proceedings: Company received notice of physical possession of secured assets, filed counter case and received stay from DRT court

6. Going Concern: Defaults indicate material uncertainty about Company's ability to function as going concern. Total outside liabilities exceed current assets

7. NPA Status: Company classified as Non-Performing Asset by banks since January 2018, not providing interest since then

8. Revenue Recognition: Company follows percentage completion method. Claims of ₹13.07 Crore classified as WIP (Current Asset) are subject to uncertainty regarding recoverability. Total WIP is ₹26.87 Crores including unbilled work of ₹13.80 Crores

9. Fixed Assets: Fixed asset register still under compilation

10. Legal Cases: Arbitration proceedings/legal cases against Company which may result in compensation/interest/penalties

Additional Information

  • Results reviewed by Audit Committee and approved by Board of Directors
  • Previous period figures recasted, rearranged & reclassified for comparability
  • Company engaged primarily in Civil Construction & Infrastructure business
  • Results prepared in accordance with Indian Accounting Standards