Supreme Infrastructure India Limited - Financial Results and Board Meeting Outcomes

Key Quantitative Figures

Standalone Financial Performance (₹ in lakhs):

  • Q4 FY26 Performance:
  • Revenue from operations: ₹1,388.92
  • Total income: ₹1,553.80
  • Net loss: ₹(6,026.13)
  • Basic EPS: ₹(7.68)
  • Diluted EPS: ₹(7.43)
  • FY26 Annual Performance:
  • Revenue from operations: ₹6,533.86
  • Total income: ₹6,727.06
  • Net profit: ₹5,79,659.70 (includes exceptional gain)
  • Basic EPS: ₹738.95
  • Diluted EPS: ₹715.08
  • Paid-up equity share capital: ₹9,673.58 lakhs (Face value ₹10 each)
  • Other equity: ₹13,972.96 lakhs
  • Total assets: ₹2,67,420.41 lakhs
  • Total liabilities: ₹2,43,697.17 lakhs
  • Net worth: ₹23,723.24 lakhs

Consolidated Financial Performance (₹ in lakhs):

  • Q4 FY26 Performance:
  • Revenue from operations: ₹1,388.92
  • Total income: ₹1,553.80
  • Net loss: ₹(6,031.60)
  • Basic EPS: ₹(7.69)
  • Diluted EPS: ₹(7.44)
  • FY26 Annual Performance:
  • Revenue from operations: ₹6,533.86
  • Total income: ₹6,727.06
  • Net profit: ₹5,79,649.97
  • Basic EPS: ₹738.94
  • Diluted EPS: ₹715.07
  • Paid-up equity share capital: ₹9,750.28 lakhs
  • Other equity: ₹13,600.41 lakhs
  • Total assets: ₹2,68,870.21 lakhs
  • Total liabilities: ₹2,45,767.94 lakhs
  • Net worth: ₹23,350.69 lakhs

Exceptional Items

Standalone and Consolidated:

  • Gain from reversal of interest and principal on implementation of Scheme: ₹(3,67,801.46) lakhs
  • Reversal of interest where No Dues Certificate pending: ₹(2,78,805.87) lakhs
  • Compensation paid on settlement with trade payables: ₹43.70 lakhs
  • Total exceptional items (income): ₹(6,46,563.62) lakhs for FY26

Material Financial Exposures

Trade Receivables and Other Assets Under Qualification:

  • Trade receivables: ₹7,56,44.24 lakhs outstanding for substantial period
  • Unbilled revenue: ₹650.24 lakhs
  • Other receivables: ₹611.02 lakhs
  • Management considers fully recoverable despite no movement and lack of balance confirmations

Investments in Erstwhile Subsidiaries:

1. Supreme Infrastructure BOT Private Limited (SIBPL):

  • Investment: ₹142,556.84 lakhs
  • Trade receivables from step-down subsidiaries: ₹2,145.81 lakhs
  • Admitted to CIRP on May 22, 2024
  • Consolidated net worth fully eroded
  • Management believes intrinsic value derived from BOT SPV investments

2. Supreme Panvel Indapur Tollways Private Limited (SPITPL):

  • Investment: ₹15,677.22 lakhs
  • Trade receivables: ₹3,814.98 lakhs
  • Unbilled revenue: ₹3,201.67 lakhs
  • Admitted to CIRP on August 30, 2024
  • NHAI termination notice stayed by Delhi High Court
  • Arbitration proceedings ongoing with NHAI

Corporate Guarantees:

  • Total corporate guarantees: ₹1,51,347.85 lakhs (FY25: ₹1,53,315.69 lakhs)
  • Given to lenders of subsidiary/group companies who have defaulted in repayment
  • Breakdown:
  • Supreme Vasai Bhiwandi Tollways: ₹15,378.00 lakhs
  • Supreme Panvel Indapur Tollways: ₹90,000.00 lakhs
  • Patiala Nabha Infra Projects: ₹4,569.85 lakhs
  • Supreme Kopargaon Ahmednagar Tollways: ₹14,900.00 lakhs
  • Kotkapura Muktsar Tollways: ₹8,500.00 lakhs
  • Kopargaon Ahmednagar Phase-I Tollways: ₹18,000.00 lakhs
  • Management assesses no liability recognition required as part of Scheme of Arrangement

Scheme of Arrangement and Debt Resolution

  • Scheme approved by NCLT Mumbai Bench vide order dated March 28, 2025
  • Full payment made to 11 out of 14 financial creditors who issued No Dues Certificates
  • Partial payment made to remaining 3 lenders (extension sought from Court)
  • Charge release formalities completed for lenders who gave No Dues Certificates
  • Application filed before Court seeking extension for final settlement with 3 lenders

Capital Raising Activities

  • Preferential allotment of 7,10,37,388 equity shares at ₹86.94 per share (including premium of ₹76.94) to promoters, promoter groups, non-promoters & lender banks
  • Allotment of 2,21,12,953 warrants convertible into equity shares at ₹86.94 per warrant
  • During Q4 FY26, conversion of 7,67,000 warrants into equity shares
  • Funds utilized for payment to lenders as specified

Material Uncertainty Related to Going Concern

  • Company incurred net loss of ₹6,026.14 lakhs in Q4 FY26
  • Accumulated losses: ₹99,402.93 lakhs (Standalone); ₹99,380.78 lakhs (Consolidated)
  • Net worth: ₹23,723.24 lakhs (Standalone); ₹23,350.69 lakhs (Consolidated)
  • Pending settlement with 3 major lenders
  • Without considering audit qualifications, adjusted accumulated losses would be ₹3,99,645.59 lakhs (Standalone) and ₹3,99,623.44 lakhs (Consolidated) with negative net worth
  • Management believes going concern appropriate due to partial scheme implementation, future business prospects, and exit of majority financial creditors

Board Committee Reconstitution

Effective July 09, 2026:

Audit Committee:

  • Mr. Chander Parkash Sharma (Non-Executive Independent Director) - Chairperson
  • Mrs. Kaveri Ramchandra Deshmukh (Non-Executive Independent Director) - Member
  • Mr. Pankaj Prakash Sharma (Non-Executive Non-Independent Director) - Member

Nomination and Remuneration Committee:

  • Mrs. Kaveri Ramchandra Deshmukh (Non-Executive Independent Director) - Chairperson
  • Mr. Chander Parkash Sharma (Non-Executive Independent Director) - Member
  • Mr. Pankaj Prakash Sharma (Non-Executive Non-Independent Director) - Member

Stakeholders Relationship Committee:

  • Mr. Chander Parkash Sharma (Non-Executive Independent Director) - Chairperson
  • Mrs. Kaveri Ramchandra Deshmukh (Non-Executive Independent Director) - Member
  • Mr. Pankaj Prakash Sharma (Non-Executive Non-Independent Director) - Member

Audit Qualifications

Auditors Borkar & Muzumdar issued qualified opinion on both standalone and consolidated financial results citing:

1. Trade Receivables and Other Current Assets: Non-provisioning for expected credit loss on ₹7.56 lakh crore of receivables outstanding for substantial period without movement or confirmation

2. Investments in SIBPL: Non-provisioning for investment of ₹142,556.84 lakhs and trade receivables of ₹2,145.81 lakhs despite SIBPL being under CIRP with fully eroded net worth

3. Investments in SPITPL: Non-provisioning for investment of ₹15,677.22 lakhs, trade receivables of ₹3,814.98 lakhs, and unbilled revenue of ₹3,201.67 lakhs despite SPITPL being under CIRP and arbitration with NHAI

4. Interest Reversal: Reversal of interest amounting to ₹2,78,805.87 lakhs pertaining to 3 lenders without accruing interest on reversal of ₹10,907.54 lakhs (Q4) and ₹21,436.79 lakhs (FY26), resulting in overstatement of profit by ₹3,00,242.66 lakhs and net worth by same amount

Cash Flow Information (Standalone FY26)

  • Net cash used in operating activities: ₹(776.90) lakhs
  • Net cash used in investing activities: ₹(247.89) lakhs
  • Net cash from financing activities: ₹1,088.83 lakhs
  • Net decrease in cash: ₹64.04 lakhs
  • Cash and cash equivalents at year-end: ₹165.31 lakhs

Subsidiaries Included in Consolidation

1. Supreme Mega Structure Private Limited (Standalone financial result)

2. Supreme Infrastructure Overseas LLC (Consolidated financial result)

Declaration by CFO

Siddharth Jain, Chief Financial Officer, declared that statutory auditors have issued audit report with unmodified opinion on audited financial results, in compliance with Regulation 33(3)(d) of SEBI LODR.