| Scrip Code | 540700 |
|---|---|
| NSE Symbol | BRNL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE727S01012 |
| Name of company | BHARAT ROAD NETWORK LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 30-05-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 30-05-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Fourth quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Audited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Audited |
| Segment Reporting | Single segment |
| Description of single segment | Single Segment operation |
| Start date and time of board meeting | 30-05-2026 18:00:00 |
| End date and time of board meeting | 30-05-2026 20:15:00 |
| Whether cash flow statement is applicable on company | Yes |
| Type of cash flow statement | Cash Flow Indirect |
| Declaration of unmodified opinion or statement on impact of audit qualification | Statement on impact of audit qualification |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-01-2026 | 01-04-2025 |
| B | Date of end of reporting period | 31-03-2026 | 31-03-2026 |
| C | Whether results are audited or unaudited | Audited | Audited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 4,890.29 | 15,430.11 | |
| Other income | (4,847.88) | 3,088.56 | |
| Total income | 42.41 | 18,518.67 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 0.00 | 0.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 91.63 | 471.81 |
| (e) | Finance costs | 2.24 | 2.33 |
| (f) | Depreciation, depletion and amortisation expense | 2,203.68 | 6,560.53 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 8,757.87 | 17,396.92 |
| Total other expenses | 8,757.87 | 17,396.92 | |
| Total expenses | 11,055.42 | 24,431.59 | |
| 3 | Total profit before exceptional items and tax | (11,013.01) | (5,912.92) |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | (11,013.01) | (5,912.92) |
| 6 | Tax expense | ||
| 7 | Current tax | (50.92) | 21.76 |
| 8 | Deferred tax | 56.87 | 11.24 |
| 9 | Total tax expenses | 5.95 | 33.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | (11,018.96) | (5,945.92) |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | (11,018.96) | (5,945.92) |
| 17 | Other comprehensive income net of taxes | (1.08) | 2.49 |
| 18 | Total Comprehensive Income for the period | (11,020.04) | (5,943.43) |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | (6,303.82) | (2,964.41) | |
| Total profit or loss, attributable to non-controlling interests | (4,715.14) | (2,981.51) | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | (6,304.30) | (2,962.08) | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | (4,715.14) | (2,981.35) | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 8,395.00 | 8,395.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | 0.00 | |
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -13.13 | -7.08 | |
| Diluted earnings (loss) per share from continuing operations | -13.13 | -7.08 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | -13.13 | -7.08 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -13.13 | -7.08 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | 1) The above standalone financial results for the quarter and year ended March 31, 2026 and consolidated financial results for the quarter and year ended March 31, 2026 were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 30, 2026. The Statutory Auditors of the Company have audited these financial results. 2) The Company is primarily engaged in a single business segment of purchase, own, build, develop, design, operate, transfer road and related services. Hence, segment reporting is not applicable. 3) Other Income includes (loss)/gain on account of Investments mandatorily measured at Fair Value Through Profit and Loss (FVTPL). 4) The Company had received an amount of Rs.7,000 lakhs from IL&FS group-IL & FS Financial Services Ltd. (IL & FS) in the FY 2016-17. The Company also has a receivable of Rs 11,419 lakhs from IL & FS group -IL & FS Transportation Networks Limited (ITNL). Pursuant to the directions passed by Hon’ble National Company Law Appellate Tribunal, at New Delhi for restructuring the IL&FS group, all the entities belonging to the group are treated as a single entity and not restructured separately. Further IL &FS has filed an application before the Hon'ble NCLT, Mumbai seeking direction and relief for mutual discharge of dues and payables among various entities. The application filed by ILFS has been dismissed by NCLT, Mumbai. The above matter remains subjudice before NCLT, kolkata. 5) The Company had received an amount of Rs.7,000 lakhs from IL&FS group-IL & FS Financial Services Ltd. (IL & FS) in the FY 2016-17. The Company also has a receivable of Rs 11,419 lakhs from IL & FS group -IL & FS Transportation Networks Limited (ITNL). Pursuant to the directions passed by Hon’ble National Company Law Appellate Tribunal, at New Delhi for restructuring the IL&FS group, all the entities belonging to the group are treated as a single entity and not restructured separately. Further IL &FS has filed an application before the Hon'ble NCLT, Mumbai seeking direction and relief for mutual discharge of dues and payables among various entities. The application filed by ILFS has been dismissed by NCLT, Mumbai. The above matter remains subjudice before NCLT, kolkata. 6) The Standalone and Consolidated figures for the last quarter for current financial year and the last quarter for previous Financial year are the balancing figures between the audited figures in respect of the full financial year ended March 31, and the published unaudited (with limited review) year to date figures upto the third quarter ended December 31,of the respective Financial Year. 7) During the year, Orissa Steel Expressway Pvt. Ltd (OSEPL) has received Rs. 39,167.96 lakhs from NHAI under the Settlement Agreement executed under Vivad se Vishwas scheme on account of compensation against termination claims of the project which has been recognized in Other Equity as capital receipts as the management believes that the same is on account of compensation for cancellation / termination that impairs or destroys the profit making apparatus or source of income i.e. business has ended before it was commenced. 8) In case of Subsidiary Company, Guruvayoor Infrastructure Pvt. Ltd. (GIPL), Claims & Counter claims are being pursued before the Arbitral Tribunal both by GIPL & National Highway Authority of India (NHAI) which is still pending adjudication. 9) The Officers of the Directorate of Enforcement (ED) conducted search proceedings u/s 17(1) of the Prevention of Money Laundering Act,2002 (PMLA) at the Office Premises of the Subsidiary, Guruvayoor Infrastructure Pvt. Ltd (GIPL) . This was pursuant to the CBI Investigation and FIR being filed alleging criminal conspiracy leading to unlawful gain of Rs. 10,244 Lakhs. Subsequently, CBI has filled chargesheet on March 27, 2024, wherein the alleged undue gain has been quantified at around Rs. 2,447 Lakhs. The ED has passed an order against GIPL, to freeze the movable properties (including Bank balance and fixed deposits) to the tune of Rs. 12,521.42 lakhs. GIPL has preferred an Appeal against the said order of The Adjudicating Authority before the Hon'ble Appellate Tribunal (PMLA). Concurrently, ED has also filed a prosecution complaint before the Hon’ble Additional Special Sessions Court , at Ernakulam. The matter is sub-judice. 10) The Subsidiary Company, Guruvayoor Infrastructure Pvt. Ltd. (GIPL) has availed financial assistance from one of the financial institution and is currently in discussion with them regarding the potential restructuring of this financial support. GIPL is hopeful of a positive outcome in this regard. Considering this development, interest amounting to Rs 2,195.39 Lakhs has not been provided from October 01,2024 onwards. 11) In case of Solapur Tollways Private Limited (STPL), pursuant to initiation of CIRP, vide NCLT-Kolkata Order dated December 20, 2024, the Company ceases control over STPL. 12) Kurukshetra Expressway Private Limited (KEPL), an associate of the Company has been awarded Rs. 86,087 lakhs by Arbitral Tribunal towards the Losses including termination payment (net of counter claims) vide order dated August 16, 2024 . National Highway Authority of India ,( NHAI) has challenged the award before Hon'ble Delhi High Court and the matter is subjudice. 13) Mahakaleshwar Tollways Pvt Ltd. (MTPL) an associate of the Company , pursuing claims of Rs. 214,916 lakhs including Termination payment and other damages had filed Arbitration Petition before the Madhya Pradesh Arbitration Tribunal – Bhopal on October 30, 2021 under Madhya Pradesh Madhyastham Adhikaran Adhiniyam, 1983 . The matter is subjudice. 14) The figures for the corresponding previous period have been regrouped/ reclassified wherever necessary, to make them comparable. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | Year ended (dd-mm-yyyy) | |
|---|---|---|
| Date of start of reporting period | 01-04-2025 | |
| Date of end of reporting period | 31-03-2026 | |
| Whether results are audited or unaudited | Audited | |
| Nature of report standalone or consolidated | Consolidated | |
| Assets | ||
| 1 | Non-current assets | |
| Property, plant and equipment | 160.42 | |
| Capital work-in-progress | 0.00 | |
| Investment property | 4.85 | |
| Goodwill | 2,506.23 | |
| Other intangible assets | 47,397.61 | |
| Intangible assets under development | 0.00 | |
| Biological assets other than bearer plants | 0.00 | |
| Investments accounted for using equity method | 0.00 | |
| Non-current financial assets | ||
| Non-current investments | 9,314.37 | |
| Trade receivables, non-current | 0.00 | |
| Loans, non-current | 0.00 | |
| Other non-current financial assets | ||
| 1 | Other non-current assets | 244.66 |
| Total of other non-current financial assets | 244.66 | |
| Total non-current financial assets | 9,559.03 | |
| Deferred tax assets (net) | 4,703.30 | |
| Other non-current assets | ||
| Total of other non-current assets | ||
| Total non-current assets | 64,331.44 | |
| 2 | Current assets | |
| Inventories | 0.00 | |
| Current financial asset | ||
| Current investments | 0.00 | |
| Trade receivables, current | 120.61 | |
| Cash and cash equivalents | 12,597.57 | |
| Bank balance other than cash and cash equivalents | 22,415.76 | |
| Loans, current | 13,185.49 | |
| Other current financial assets | ||
| Total of other current financial assets | 28,482.07 | |
| Total current financial assets | 76,801.50 | |
| Current tax assets (net) | 1,389.11 | |
| Other current assets | ||
| 1 | Other current assets | 1,028.66 |
| Total of other current assets | 1,028.66 | |
| Total current assets | 79,219.27 | |
| 3 | Non-current assets classified as held for sale | |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | |
| Total assets | 1,43,550.71 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 8,395.00 | |
| Other equity | 31,867.69 | |
| Total equity attributable to owners of parent | 40,262.69 | |
| Non controlling interest | 13,176.74 | |
| Total equity | 53,439.43 | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 17,073.14 | |
| Trade payables, non-current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 0.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | |
| Total Trade payable | 0.00 | |
| Other non-current financial liabilities | ||
| 1 | Other Financial Liabilities | 7,077.34 |
| Total of other non-current financial liabilities | 7,077.34 | |
| Total non-current financial liabilities | 24,150.48 | |
| Provisions, non-current | 15,935.90 | |
| Deferred tax liabilities (net) | ||
| Deferred government grants, Non-current | ||
| Other non-current liabilities | ||
| Total of other non-current liabilities | ||
| Total non-current liabilities | 40,086.38 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 26,357.73 | |
| Trade payables, current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 59.83 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 271.88 | |
| Total Trade payable | 331.71 | |
| Other current financial liabilities | ||
| 1 | Other Financial Liabilities | 15,663.63 |
| Total of other current financial liabilities | 15,663.63 | |
| Total current financial liabilities | 42,353.07 | |
| Other current liabilities | 65.85 | |
| 1 | Other current liabilities | 65.85 |
| Total of other current liabilities | 65.85 | |
| Provisions, current | 7,605.98 | |
| Current tax liabilities (Net) | 0.00 | |
| Deferred government grants, Current | 0.00 | |
| Total current liabilities | 50,024.90 | |
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | |
| Total liabilities | 90,111.28 | |
| Total equity and liabilites | 1,43,550.71 | |
| Disclosure of notes on assets and liabilities | ||
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-01-2026 | 01-04-2025 | |||||
| Date of end of reporting period | 31-03-2026 | 31-03-2026 | |||||
| Whether results are audited or unaudited | Audited | Audited | |||||
| Nature of report standalone or consolidated | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-01-2026 | 01-04-2025 |
| B | Date of end of reporting period | 31-03-2026 | 31-03-2026 |
| C | Whether results are audited or unaudited | Audited | Audited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | - Remeasurement of the defined benefit plans | (0.65) | 3.13 |
| Total Amount of items that will not be reclassified to profit and loss | (0.65) | 3.13 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 0.43 | 0.64 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | ||
| 5 | Total Other comprehensive income | (1.08) | 2.49 |
| Particulars | Year ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|
| A | Date of start of reporting period | 01-04-2025 | ||||
| B | Date of end of reporting period | 31-03-2026 | ||||
| C | Whether results are audited or unaudited | Audited | ||||
| D | Nature of report standalone or consolidated | Consolidated | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | (5,912.92) | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 2.33 | |||||
| Adjustments for decrease (increase) in inventories | 0.00 | |||||
| Adjustments for decrease (increase) in trade receivables, current | (6,668.07) | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0.00 | |||||
| Adjustments for decrease (increase) in other current assets | 0.00 | |||||
| Adjustments for decrease (increase) in other non-current assets | 0.00 | |||||
| Adjustments for other financial assets, non-current | 0.00 | |||||
| Adjustments for other financial assets, current | 0.00 | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | 0.00 | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 0.00 | |||||
| Adjustments for depreciation and amortisation expense | 6,560.53 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | 0.00 | |||||
| Adjustments for provisions, non-current | 0.00 | |||||
| Adjustments for other financial liabilities, current | 0.00 | |||||
| Adjustments for other financial liabilities, non-current | 0.00 | |||||
| Adjustments for unrealised foreign exchange losses gains | 0.00 | |||||
| Adjustments for dividend income | 0.00 | |||||
| Adjustments for interest income | 0.00 | |||||
| Adjustments for share-based payments | 0.00 | |||||
| Adjustments for fair value losses (gains) | (116.89) | |||||
| Adjustments for undistributed profits of associates | 0.00 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | 0.00 | |||||
| Other adjustments to reconcile profit (loss) | 0.00 | |||||
| Other adjustments for non-cash items | 169.69 | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | (52.41) | |||||
| Net cash flows from (used in) operations | (5,965.33) | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 2,834.41 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 1,014.87 | |||||
| Other inflows (outflows) of cash | (2,753.57) | |||||
| Net cash flows from (used in) operating activities | (12,568.18) | |||||
| Cash flows from used in investing activities | ||||||
| Cash flows from losing control of subsidiaries or other businesses | 0.00 | |||||
| Cash flows used in obtaining control of subsidiaries or other businesses | 0.00 | |||||
| Other cash receipts from sales of equity or debt instruments of other entities | 0.00 | |||||
| Other cash payments to acquire equity or debt instruments of other entities | 0.00 | |||||
| Other cash receipts from sales of interests in joint ventures | 0.00 | |||||
| Other cash payments to acquire interests in joint ventures | 0.00 | |||||
| Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Cash payment for investment in partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Proceeds from sales of property, plant and equipment | 0.00 | |||||
| Purchase of property, plant and equipment | 721.68 | |||||
| Proceeds from sales of investment property | 0.00 | |||||
| Purchase of investment property | 0.00 | |||||
| Proceeds from sales of intangible assets | 0.00 | |||||
| Purchase of intangible assets | 0.00 | |||||
| Proceeds from sales of intangible assets under development | 0.00 | |||||
| Purchase of intangible assets under development | 0.00 | |||||
| Proceeds from sales of goodwill | 0.00 | |||||
| Purchase of goodwill | 0.00 | |||||
| Proceeds from biological assets other than bearer plants | 0.00 | |||||
| Purchase of biological assets other than bearer plants | 0.00 | |||||
| Proceeds from government grants | 0.00 | |||||
| Proceeds from sales of other long-term assets | 0.00 | |||||
| Purchase of other long-term assets | 0.00 | |||||
| Cash advances and loans made to other parties | 0.00 | |||||
| Cash receipts from repayment of advances and loans made to other parties | 0.00 | |||||
| Cash payments for future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Cash receipts from future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Dividends received | 2,498.86 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | 31,015.85 | |||||
| Net cash flows from (used in) investing activities | 32,793.03 | |||||
| Cash flows from used in financing activities | ||||||
| Proceeds from changes in ownership interests in subsidiaries | 0.00 | |||||
| Payments from changes in ownership interests in subsidiaries | 0.00 | |||||
| Proceeds from issuing shares | 0.00 | |||||
| Proceeds from issuing other equity instruments | 0.00 | |||||
| Payments to acquire or redeem entity's shares | 0.00 | |||||
| Payments of other equity instruments | 0.00 | |||||
| Proceeds from exercise of stock options | 0.00 | |||||
| Proceeds from issuing debentures notes bonds etc | 0.00 | |||||
| Proceeds from borrowings | 0.00 | |||||
| Repayments of borrowings | 0.00 | |||||
| Payments of lease liabilities | 0.00 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 8,000.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) financing activities | (8,000.00) | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | 12,224.85 | |||||
| Effect of exchange rate changes on cash and cash equivalents | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 0.00 | |||||
| Net increase (decrease) in cash and cash equivalents | 12,224.85 | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 372.72 | |||||
| Cash and cash equivalents cash flow statement at end of period | 12,597.57 | |||||
| Whether results are audited or unaudited | Audited |
|---|---|
| Declaration of unmodified opinion or statement on impact of audit qualification | Statement on impact of audit qualification |
| Auditor's opinion | Qualified opinion |
| Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results |
| Sr No. | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto | ||
| 1 | S S Kothari Mehta & Co. LLP | Yes | 31-08-2028 | ||
|---|---|---|---|---|---|
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
|---|---|---|---|
| 1 | Turnover / Total income | 18,518.67 | 35,807.94 |
| 2 | Total Expenditure | 24,431.59 | 30,004.20 |
| 3 | Net Profit/(Loss) | (5,912.92) | 5,803.74 |
| 4 | Earnings Per Share | -7.08 | 8.11 |
| 5 | Total Assets | 1,43,550.71 | 1,45,319.33 |
| 6 | Total Liabilities | 90,111.27 | 99,333.91 |
| 7 | Net Worth | 40,262.69 | 33,379.69 |
| Sr. | Details of Audit Qualification | Type of Audit Qualification | Frequency of qualification | For Audit Qualification(s) where the impact is quantified by the auditor | For Audit Qualification(s) where the impact is not quantified by the auditor | ||
|---|---|---|---|---|---|---|---|
| Management's Views | (i) Management's estimation on the impact of audit qualification | (ii) If management is unable to estimate the impact, reasons for the same | Auditors' Comments on (i) or (ii) above | ||||
| 1 | Textual Information(1) | Qualified opinion | Repetitive | Textual Information(2) | Textual Information(3) | Textual Information(4) | Textual Information(5) |
| Textual Information(1) | Details of Audit Qualification: i. The Holding Company has not recognized interest on the financial assistance availed from July 01, 2024 onwards which is not in compliance of Ind AS 1 Presentation of Financial Statements read with Ind AS 109 Financial Instruments. Due to this, loss before tax of the Group for the quarter ended March 31, 2026 has been understated by Rs. 884.96 lakhs and loss before tax of the Group for the year ended March 31, 2026 has been understated by Rs. 4,107.69 lakhs and the current liabilities as at March 31, 2026 has been understated by Rs. 7,027.26 lakhs. ii. Guruvayoor Infrastructure Private Limited (GIPL), a subsidiary of the Holding Company,has not recognized interest on the financial assistance availed from October 01, 2024 onwards which is not in compliance of Ind AS 1 Presentation of Financial Statements read with Ind AS 109 Financial Instruments. Due to this, loss before tax of the Group for the quarter ended March 31, 2026 has been understated by Rs. 361.22 lakhs and loss before tax of the Group for the year ended March 31, 2026 has been understated by Rs. 1,464.92 lakhs and the current liabilities as at March 31, 2026 has been understated by Rs. 2,195.39 lakhs. iii. Orissa Steel Expressway Private Limited (OSEPL), a subsidiary of the Holding Company, has recognized an amount of Rs. 17,289.27 lakhs received from NHAI on account of compensation against termination claims of the project in Other Equity instead of recognizing the same in the Statement of Profit and Loss which is not in compliance of Ind AS 109 Financial Instruments. As a result, the loss for the quarter and year ended March 31, 2026 has been overstated by Rs. 17,289.27 lakhs. However, there is no impact in Other Equity. |
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| Textual Information(2) | For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views: i. The Company has availed financial assistance from a financial institution amounting to Rs. 19,357.72 lakhs and the same was repayable on March 31, 2025. Total interest accrued in books of accounts amounts to Rs. 12,015.55 lakhs till June 30, 2024. Interest amounting to Rs. 7,027.26 lakhs have not been provided from July 01, 2024 onwards. Company has defaulted in repayment of principal and interest due on March 31, 2025. Partial payment of Rs. 8,000 lakhs has been done in the month of December 2025 towards Interest by the Company. The Company is currently in discussions for the potential restructuring / resolution of this financial support. The Company is hopeful of a positive outcome in this regard. Considering these, interest has not been recognised from July 01, 2024 onwards and repayments have been put on hold. ii. The Subsidiary Company, Guruvayoor Infrastructure Pvt. Ltd. (GIPL) has availed financial assistance from one of the financial institution and is currently in discussion with them regarding the potential restructuring of this financial support. GIPL is hopeful of a positive outcome in this regard. Considering this development, interest amounting to Rs 2,195.39 Lakhs has not been provided from October 01,2024 onwards. iii. During the year, Orissa Steel Expressway Pvt. Ltd (OSEPL) has received Rs. 39,167.96 lakhs from NHAI under the Settlement Agreement executed under Vivad se Vishwas scheme on account of compensation against termination claims of the project which has been recognized in Other Equity as capital receipts as the management believes that the same is on account of compensation for cancellation / termination that impairs or destroys the profit making apparatus or source of income i.e. business has ended before it was commenced. |
| Textual Information(3) | NA |
| Textual Information(4) | NA |
| Textual Information(5) | NA |
| Name of CEO / Managing director | Anirup Sen |
|---|---|
| Name of CFO | Manisha Chandalia |
| Name of audit committee chairman | Jaydeep Chakraborty |
| Name of statutory auditor | S S Kothari Mehta & Co. LLP |
| Name of other signatory, if any, with designation | RANA SEN, AUDITOR, SSKMIN |
| Place | Kolkata |
| Date | 30-05-2026 |