Supreme Infrastructure Q2 Net Profit ₹3.68 Crore

Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, commencing at 6:30 PM and concluding at 7:55 PM. The board approved the unaudited financial results (standalone and consolidated) for the quarter and half year ended September 30, 2026, pursuant to Regulation 33 of SEBI Listing Regulations.

Key Financial Figures - Standalone (₹ in lakhs)

Quarter Ended September 30, 2026:

Total Income: ₹3,356.27
Revenue from operations: ₹2,900.42
Other income: ₹455.85
Total Expenses: ₹2,988.48
Cost of materials consumed: ₹1,019.43
Subcontracting expenses: ₹1,227.66
Employee benefits expense: ₹104.40
Finance costs: ₹313.06
Depreciation and amortization: ₹100.66
Other expenses: ₹223.27
Profit before exceptional items and tax: ₹367.79
Exceptional items: Nil
Profit before tax: ₹367.79
Tax expense: Nil
Profit for the period: ₹367.79
Other comprehensive income: Nil
Total comprehensive income: ₹367.79
Basic EPS: ₹0.38
Diluted EPS: ₹0.38

Half Year Ended September 30, 2026:

Total Income: ₹5,792.90
Revenue from operations: ₹5,312.64
Other income: ₹480.26
Total Expenses: ₹11,339.42
Cost of materials consumed: Not separately quantified for half year
Subcontracting expenses: ₹2,524.36
Employee benefits expense: ₹197.30
Finance costs: ₹6,273.00
Depreciation and amortization: ₹208.18
Other expenses: ₹481.58
Loss before exceptional items and tax: ₹(5,546.52)
Exceptional items: Nil
Loss before tax: ₹(5,546.52)
Tax expense: Nil
Loss for the period: ₹(5,546.52)
Other comprehensive income: Nil
Total comprehensive loss: ₹(5,546.52)
Basic EPS: ₹(5.69)
Diluted EPS: ₹(5.69)

Comparative Figures - Previous Periods:

Quarter Ended September 30, 2025:

Profit before exceptional items and tax: ₹(16,012.46)
Exceptional items: ₹(6,46,607.33) income
Profit before tax: ₹6,30,594.87
Profit for the period: ₹6,30,594.87
Basic EPS: ₹1,043.40
Diluted EPS: ₹1,001.19

Year Ended March 31, 2026:

Profit before exceptional items and tax: ₹(66,903.92)
Exceptional items: ₹(6,46,563.62) income
Profit before tax: ₹5,79,659.70
Profit for the period: ₹5,79,659.70
Other comprehensive income: ₹1.50
Total comprehensive income: ₹5,79,661.20

Balance Sheet Position as of September 30, 2026 (Standalone)

Total Assets: ₹2,69,705.23
Non-current assets: ₹1,71,264.02
Property, plant and equipment: ₹8,659.45
Capital work-in-progress: ₹51.00
Investments: ₹76,415.87
Other financial assets: ₹359.67
Current assets: ₹98,441.21
Inventories: ₹804.87
Trade receivables: ₹84,661.15
Cash and cash equivalents: ₹183.67
Bank balances other than cash: ₹73.30
Other financial assets: ₹68.45
Other current assets: ₹12,643.44

Equity and Liabilities: ₹2,69,705.23
Equity: ₹18,176.71
Equity share capital: ₹9,750.28 (face value ₹10 each)
Other equity: ₹8,426.43
Non-current liabilities: ₹7,346.02
Borrowings: ₹7,270.16
Other financial liabilities: ₹34.13
Provisions: ₹41.73
Current liabilities: ₹2,44,182.50
Borrowings: ₹1,39,114.72
Trade payables: ₹2,191.59
Micro enterprises and small enterprises: ₹93.67
Other creditors: ₹2,097.92
Other financial liabilities: ₹88,489.72
Other current liabilities: ₹11,741.49
Provisions: ₹48.14
Current tax liabilities: ₹2,596.84

Cash Flow Statement - Half Year Ended September 30, 2026 (Standalone)

Cash flow from operating activities: ₹505.95
Cash flow from investing activities: ₹(337.47)
Cash flow from financing activities: ₹(150.12)
Net decrease in cash: ₹18.36
Cash at beginning: ₹165.31
Cash at end: ₹183.67

Auditors' Modified Review Report - Key Qualifications

Borkar & Muzumdar Chartered Accountants issued a modified review report highlighting four areas of potential material misstatement:

1. Overdue Receivables: Trade receivables of ₹75,648.58 lakhs, unbilled revenue of ₹650.24 lakhs, and other receivables of ₹611.02 lakhs outstanding for substantial periods with no movement. Management assessed no expected credit loss required, but auditors unable to comment on potential adjustments.

2. SIBPL Exposure: Non-current investments of ₹1,42,556.84 lakhs and trade receivables of ₹2,221.36 lakhs from step-down subsidiaries of Supreme Infrastructure BOT Private Limited (admitted to CIRP on May 22, 2024). Management considers fully recoverable, but auditors unable to comment due to eroded net worth and CIRP status.

3. SPITPL Exposure: Investments of ₹15,677.22 lakhs, trade receivables of ₹3,814.98 lakhs, and unbilled revenue of ₹3,201.67 lakhs from Supreme Panvel Indapur Tollways Private Limited (admitted to CIRP on August 30, 2024). Matter under arbitration with NHAI. Management considers fully recoverable, but auditors unable to comment due to CIRP status and arbitration uncertainty.

4. Interest Non-Accrual: During previous year, reversed interest of ₹2,78,805.87 lakhs pertaining to three lenders from whom No Dues Certificates were pending. Received NDCs on October 31, 2026 (post-reporting date). Company did not accrue:

Interest on reversed amounts: ₹44,440.34 lakhs, ₹11,704.44 lakhs, and ₹23,003.55 lakhs till September 30, 2026
Interest for Q2 FY2026: ₹5,641.99 lakhs on outstanding amounts

This resulted in understatement of loss by ₹17,346.43 lakhs for quarter and ₹28,645.53 lakhs for half year, and overstatement of net worth by ₹50,082.33 lakhs.

Emphasis of Matter

1. Corporate Guarantees: Company provided corporate guarantees of ₹1,51,347.85 lakhs to lenders of subsidiaries/group companies who have defaulted in repayments. Management believes invocation risk is remote based on resolution progress and has not recognized any liability.

2. Exceptional Items: Previous year included exceptional gain of ₹3,67,801.46 lakhs from one-time settlement with lenders.

Other Matter

Company reported net profit of ₹367.79 lakhs for quarter but accumulated losses of ₹1,04,949.45 lakhs and net worth of ₹18,176.71 lakhs as of September 30, 2026. After adjusting for interest non-accrual matter, company would have net loss of ₹16,978.64 lakhs for quarter, accumulated losses of ₹4,33,937.68 lakhs, and negative net worth of ₹3,10,711.49 lakhs.

Scheme of Compromise and Arrangement with financial creditors fully implemented on October 31, 2026 (post-reporting date), sanctioned by NCLT Mumbai Bench on March 28, 2025. Received No Dues Certificates from all lenders.

Consolidated Financial Results

The consolidated results include:

Supreme Mega Structure Private Limited (standalone)
Supreme Infrastructure Overseas LLC (consolidated)

Key Consolidated Figures (₹ in lakhs):

Quarter Ended September 30, 2026:

Profit attributable to owners: ₹366.37
Basic EPS: ₹0.38

Half Year Ended September 30, 2026:

Loss attributable to owners: ₹(5,549.38)
Basic EPS: ₹(5.69)

Consolidated net worth: ₹17,801.30 lakhs as of September 30, 2026.

Notes to Financial Statements

Scheme of Compromise Implementation

Scheme under Sections 230-232 of Companies Act, 2013 sanctioned by NCLT on March 28, 2025
Fully implemented on October 31, 2026 with receipt of No Dues Certificates from all lenders
During previous year, issued 7,10,37,388 equity shares at ₹86.94 per share and 2,21,12,953 warrants at ₹86.94 per warrant through preferential allotment
Proceeds used for payments to lenders

Segment Information

Company principally engaged in single business segment "Engineering and Construction" which is seasonal in nature.

Corporate Guarantees Details

Breakdown of ₹1,51,347.85 lakhs corporate guarantees:

Supreme Vasai Bhiwandi Tollways: ₹15,378.00 lakhs
Kotkapura Muktsar Tollways: ₹8,500.00 lakhs
Kopargaon Ahmednagar Phase-I Tollways: ₹18,000.00 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

Management believes each SPV has independent cash flows and resolution plans are being implemented separately.

Exceptional Items

Previous year exceptional items of ₹6,46,607.33 lakhs comprised:

Reversal of interest and principal on Scheme implementation: ₹3,67,801.46 lakhs
Reversal of interest where NDCs pending: ₹2,78,805.87 lakhs