| Scrip Code | 533292 |
|---|---|
| NSE Symbol | A2ZINFRA |
| MSEI Symbol | NA |
| ISIN | INE619I01012 |
| Name of company | A2Z INFRA ENGINEERING 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 | 14-07-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 02-07-2026 |
| 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 | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 14-07-2026 18:05:00 |
| End date and time of board meeting | 14-07-2026 19:00:00 |
| 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 | 9,224.29 | 38,643.79 | |
| Other income | 806.79 | 1,630.03 | |
| Total income | 10,031.08 | 40,273.82 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 4,991.14 | 17,882.29 |
| (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 | 3,404.53 | 15,451.54 |
| (e) | Finance costs | 224.39 | 735.10 |
| (f) | Depreciation, depletion and amortisation expense | 113.97 | 477.64 |
| (f) | Other Expenses | ||
| 1 | other expenses | 1,143.51 | 4,441.84 |
| Total other expenses | 1,143.51 | 4,441.84 | |
| Total expenses | 9,877.54 | 38,988.41 | |
| 3 | Total profit before exceptional items and tax | 153.54 | 1,285.41 |
| 4 | Exceptional items | 527.79 | (516.76) |
| 5 | Total profit before tax | 681.33 | 768.65 |
| 6 | Tax expense | ||
| 7 | Current tax | (9.72) | 252.06 |
| 8 | Deferred tax | 22.64 | (10.02) |
| 9 | Total tax expenses | 12.92 | 242.04 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | (3.00) | (3.00) |
| 11 | Net Profit Loss for the period from continuing operations | 665.41 | 523.61 |
| 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 | 665.41 | 523.61 |
| 17 | Other comprehensive income net of taxes | 21.10 | 21.10 |
| 18 | Total Comprehensive Income for the period | 686.51 | 544.71 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 600.23 | 437.29 | |
| Total profit or loss, attributable to non-controlling interests | 65.18 | 86.32 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 593.70 | 430.76 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 92.81 | 113.95 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 17,611.99 | 17,611.99 | |
| 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 | 0.34 | 0.25 | |
| Diluted earnings (loss) per share from continuing operations | 0.34 | 0.25 | |
| 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 | 0.34 | 0.25 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 0.34 | 0.25 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | ||
| 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 | 2,779.50 | |
| Capital work-in-progress | 552.29 | |
| Investment property | 0.00 | |
| Goodwill | 3,563.65 | |
| Other intangible assets | 1.90 | |
| Intangible assets under development | 21.66 | |
| Biological assets other than bearer plants | 0.00 | |
| Investments accounted for using equity method | 0.00 | |
| Non-current financial assets | ||
| Non-current investments | 49.80 | |
| Trade receivables, non-current | 0.00 | |
| Loans, non-current | 0.00 | |
| Other non-current financial assets | ||
| 1 | Other non-current financial assets | 2,428.77 |
| Total of other non-current financial assets | 2,428.77 | |
| Total non-current financial assets | 2,478.57 | |
| Deferred tax assets (net) | 1,145.94 | |
| Other non-current assets | ||
| 1 | Other non-current assets | 3,467.59 |
| Total of other non-current assets | 3,467.59 | |
| Total non-current assets | 14,011.10 | |
| 2 | Current assets | |
| Inventories | 0.00 | |
| Current financial asset | ||
| Current investments | 0.00 | |
| Trade receivables, current | 8,030.73 | |
| Cash and cash equivalents | 352.24 | |
| Bank balance other than cash and cash equivalents | 122.32 | |
| Loans, current | 3,908.24 | |
| Other current financial assets | ||
| Total of other current financial assets | 11,469.68 | |
| Total current financial assets | 23,883.21 | |
| Current tax assets (net) | 0.00 | |
| Other current assets | ||
| 1 | Other current assets | 8,172.54 |
| Total of other current assets | 8,172.54 | |
| Total current assets | 32,055.75 | |
| 3 | Non-current assets classified as held for sale | 0.00 |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | 0.00 |
| Total assets | 46,066.85 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 17,611.99 | |
| Other equity | (12,664.63) | |
| Total equity attributable to owners of parent | 4,947.36 | |
| Non controlling interest | (1,745.00) | |
| Total equity | 3,202.36 | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 75.11 | |
| 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 non-current financial liabilities | 50.93 |
| Total of other non-current financial liabilities | 50.93 | |
| Total non-current financial liabilities | 126.04 | |
| Provisions, non-current | 2,326.25 | |
| Deferred tax liabilities (net) | 0.00 | |
| Deferred government grants, Non-current | 0.00 | |
| Other non-current liabilities | ||
| 1 | Other non-current liabilities | 2,012.82 |
| Total of other non-current liabilities | 2,012.82 | |
| Total non-current liabilities | 4,465.11 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 9,510.80 | |
| Trade payables, current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 28.83 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 21,780.12 | |
| Total Trade payable | 21,808.95 | |
| Other current financial liabilities | ||
| 1 | Other current financial liabilities | 3,685.16 |
| Total of other current financial liabilities | 3,685.16 | |
| Total current financial liabilities | 35,004.91 | |
| Other current liabilities | 3,370.34 | |
| 1 | Other current liabilities | 3,370.34 |
| Total of other current liabilities | 3,370.34 | |
| Provisions, current | 14.43 | |
| Current tax liabilities (Net) | 9.70 | |
| Deferred government grants, Current | 0.00 | |
| Total current liabilities | 38,399.38 | |
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | 0.00 |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | 0.00 |
| Total liabilities | 42,864.49 | |
| Total equity and liabilites | 46,066.85 | |
| 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) | |||||||
| 1 | Segment- ES | 3,876.77 | 11,371.07 | ||||
| 2 | Segment- FMS | 4,463.87 | 21,840.77 | ||||
| 3 | Segment-MSW | 1,589.86 | 8,606.73 | ||||
| 4 | Segment-others | 0.00 | 0.00 | ||||
| Total Segment Revenue | 9,930.50 | 41,818.57 | |||||
| Less: Inter segment revenue | 706.21 | 3,174.78 | |||||
| Revenue from operations | 9,224.29 | 38,643.79 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Segment- ES | (319.73) | (396.07) | ||||
| 2 | Segment- FMS | 295.09 | 1,122.05 | ||||
| 3 | Segment-MSW | 290.06 | 383.74 | ||||
| 4 | Segment-others | 112.51 | 910.79 | ||||
| Total Profit before tax | 377.93 | 2,020.51 | |||||
| i. Finance cost | 208.79 | 669.62 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | 18.60 | 68.48 | |||||
| Profit before tax | 150.54 | 1,282.41 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Segment- ES | 21,831.38 | 21,831.38 | ||||
| 2 | Segment- FMS | 8,465.61 | 8,465.61 | ||||
| 3 | Segment-MSW | 3,585.80 | 3,585.80 | ||||
| 4 | Segment-others | 4,226.17 | 4,226.17 | ||||
| Total Segment Asset | 38,108.96 | 38,108.96 | |||||
| Un-allocable Assets | 7,957.89 | 7,957.89 | |||||
| Net Segment Asset | 46,066.85 | 46,066.85 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Segment- ES | 19,439.78 | 19,439.78 | ||||
| 2 | Segment- FMS | 5,841.16 | 5,841.16 | ||||
| 3 | Segment-MSW | 9,422.32 | 9,422.32 | ||||
| 4 | Segment-others | 3,010.86 | 3,010.86 | ||||
| Total Segment Liabilities | 37,714.12 | 37,714.12 | |||||
| Un-allocable Liabilities | 5,150.37 | 5,150.37 | |||||
| Net Segment Liabilities | 42,864.49 | 42,864.49 | |||||
| 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 | Items that will not be reclassified yo profit and loss (net) | 21.10 | 21.10 |
| Total Amount of items that will not be reclassified to profit and loss | 21.10 | 21.10 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 0.00 | 0.00 |
| 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 | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | 21.10 | 21.10 |
| 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 | 768.65 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 669.62 | |||||
| Adjustments for decrease (increase) in inventories | 0.00 | |||||
| Adjustments for decrease (increase) in trade receivables, current | 3,078.52 | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0.00 | |||||
| Adjustments for decrease (increase) in other current assets | (1,743.16) | |||||
| 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 | (1,782.25) | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | (1,804.69) | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | (2,127.56) | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 0.00 | |||||
| Adjustments for depreciation and amortisation expense | 477.64 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | (9.24) | |||||
| Adjustments for provisions, non-current | (202.43) | |||||
| Adjustments for other financial liabilities, current | 289.93 | |||||
| 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 | 833.66 | |||||
| Adjustments for share-based payments | 0.00 | |||||
| Adjustments for fair value losses (gains) | 0.00 | |||||
| Adjustments for undistributed profits of associates | 0.00 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | (401.39) | |||||
| Other adjustments to reconcile profit (loss) | 0.00 | |||||
| Other adjustments for non-cash items | 1,407.38 | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | (2,981.29) | |||||
| Net cash flows from (used in) operations | (2,212.64) | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | (551.19) | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) operating activities | (1,661.45) | |||||
| 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 | 1,000.85 | |||||
| Purchase of property, plant and equipment | 145.94 | |||||
| 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 | 24.06 | |||||
| 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 | 555.15 | |||||
| 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 | 0.00 | |||||
| Interest received | 833.66 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) investing activities | 1,109.36 | |||||
| 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 | 1,150.94 | |||||
| Repayments of borrowings | 0.00 | |||||
| Payments of lease liabilities | 15.84 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 629.76 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) financing activities | 505.34 | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | (46.75) | |||||
| 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 | (46.75) | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 398.99 | |||||
| Cash and cash equivalents cash flow statement at end of period | 352.24 | |||||
| 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 | Disclaimer of 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 | MRKS & Associates | Yes | 30-09-2028 | ||
|---|---|---|---|---|---|
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
|---|---|---|---|
| 1 | Turnover / Total income | 40,273.82 | 40,273.82 |
| 2 | Total Expenditure | 38,988.41 | 38,988.41 |
| 3 | Net Profit/(Loss) | 523.61 | 523.61 |
| 4 | Earnings Per Share | 0.25 | 0.25 |
| 5 | Total Assets | 46,066.85 | 46,066.85 |
| 6 | Total Liabilities | 42,864.49 | 42,864.49 |
| 7 | Net Worth | 3,187.79 | 3,187.79 |
| 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) | Disclaimer of opinion | Since how long continuing | Textual Information(2) | Textual Information(3) | Textual Information(4) | Textual Information(5) |
| 2 | Textual Information(6) | Disclaimer of opinion | Since how long continuing | Textual Information(7) | Textual Information(8) | Textual Information(9) | Textual Information(10) |
| Textual Information(1) | As stated in note 8 to the accompanying Statement, the Holding Company has incurred a net loss after tax of Rs. 279.25 lakhs for the year ended 31st March 2026, and as of that date, the Holding Company’s accumulated losses amount to Rs. 1,07,659.78 lakhs, which have resulted in substantial erosion of its net worth, and the current liabilities exceed current assets by Rs. 6,491.75 lakhs. Also, certain lenders have filed applications with the National Company Law Tribunal (NCLT), Debt Recovery Tribunal (DRT) and other courts for recovery of their dues as detailed in note 8. The Holding Company has also delayed in repayment of borrowings and payment of statutory dues and dues payable to other lenders, as further detailed in note 7. As confirmed by the management, the Holding Company has been in discussions with the lenders regarding settlement of their outstanding borrowings/dues. Further, the expected realisation of the amounts outstanding from certain customers, within the next 12 months, with whom the Holding Company is in discussions is uncertain in the absence of any confirmations from such customers. Such events & conditions and the possible impact of the associated uncertainties on management's assumptions, and other matters as set forth in the note 8, cast significant doubt on the Holding Company's ability to continue as a going concern. In the absence of sufficient appropriate audit evidence to support the management's assessment with respect to settlement of outstanding borrowings/dues and availability of funds, we are unable to comment on the ability of the Holding Company to continue as a going concern. Further, as stated in note 9 to the accompanying Statement, management indicates that a material uncertainty exists that may cast significant doubt on the Tanzania branch's ability to continue as a going concern. Our audit report on the consolidated financial results for the quarter and year ended 31st March 2025 dated 28th May 2025, our review report for the quarter ended 31st Dec 2025 dated 11th Feb 2026 also included a disclaimer of opinion and disclaimer of conclusion, respectively, in respect of this matter. |
|---|---|
| Textual Information(2) | Not quantified by the auditor |
| Textual Information(3) | Not ascertainable |
| Textual Information(4) | The Holding Company has incurred a net loss after tax of Rs. 279.25 lakhs for the year ended March 31, 2026 and has accumulated losses amounting Rs. 1,07,659.78 lakhs as at March 31, 2026. At present, holding company is facing acute liquidity issues on account of delayed realization of trade receivables from the clients. Also, certain lenders have filed an application with the Debt Recovery Tribunal for recovery of its dues for which management believes that no additional liability shall devolve on the Holding Company in addition to the carrying value of such liability as at March 31, 2026. Further, two parties have also filed applications with the National Company Law Tribunal (NCLT) for recovery of their dues. The said outstandings are disputed in nature, and Holding Company is pursuing the same before the NCLT hence at present the said matters are sub-judice. Conditions explained above, indicate existence of uncertainties that may cast significant doubt on the Holding Company’s ability to continue as a going concern due to which the Holding Company may not be able to realise its assets and discharge its liabilities in the normal course of business in future. However, the management is evaluating various options and has entered into one-time settlement agreements with various lenders, including interest and other related terms and conditions apart from further negotiating the terms with the remaining lenders for settlement of its existing debt obligations. Further the management is in discussions with certain customers for an immediate recovery of the amount due from them and believes that the substantial portion of such trade receivables shall be realized within the upcoming year. Management believes that the Holding Company will be able to settle its remaining debts in the due course and in view of the proposed settlement of debt obligations together with the expected increased realisation from the trade receivables, no adjustments are required in the consolidated financial result and accordingly, these have been prepared on a going concern basis. |
| Textual Information(5) | Included in details of auditor’s qualification (Disclaimer of Opinion) stated above. |
| Textual Information(6) | As stated in note 7 to the accompanying Statement, the Holding Company has outstanding borrowings from certain banks (referred to as ‘the Lenders’) which have been classified as non-performing assets (‘NPA borrowings’), the Holding Company has not recognised interest for the quarter ended 31st March 2026 aggregating to Rs. 255.09 lakhs (accumulated interest as at 31st March 2026 being Rs. 3,935.93 lakhs), payable under the terms of the said agreements, as estimated by the management on the basis of expected re-negotiation with the Lenders. Pending confirmations/ reconciliations from the Lenders and in the absence of sufficient appropriate evidence to substantiate management's assessment, we are unable to comment on the adjustments, if any, that may be required to the carrying values of the aforesaid borrowings and dues (including interest) payable to the Lenders in accordance with the terms of loan agreements and Settlement Agreement, and the consequential impact of such adjustments on the accompanying Statement. Our audit report on the consolidated financial results for the quarter and year ended 31st March 2025 dated 28th May 2025, our review report for the quarter ended 31st Dec 2025 dated 11th Feb 2026 also included a disclaimer of opinion and disclaimer of conclusion, respectively, in respect of this matter. |
| Textual Information(7) | Not quantified by the auditor |
| Textual Information(8) | Not ascertainable |
| Textual Information(9) | The loan accounts of the Holding Company have been classified as Non-Performing Assets by certain banks and no interest has been charged on the said accounts. Further, the Holding Company has also not charged any interest on the said borrowings, therefore provision for interest has not been made in the books of accounts and to that extent interest costs and loan liabilities have been understated. The extent of exact amount is under determination and reconciliation with the bank, however as per the details available, the amount of unaccrued interest, on approximate basis, on the said loans amounts to Rs. 255.09 lakhs, Rs. 1,038.82 lakhs and Rs. 3,935.93 lakhs for the quarter ended March 31, 2026, year ended March 31, 2026 and as at March 31, 2026 respectively (Rs. 272.97 lakhs, Rs. 1,339.08 lakhs and Rs. 3,788.34 lakhs for the quarter ended December 31, 2025, March 31, 2025 and year ended March 31, 2025 respectively). The Holding Company has made one time settlement with certain lenders or already in discussion with the said banks for settlement of their dues. |
| Textual Information(10) | Included in details of auditor’s qualification (Disclaimer of Opinion) stated above. |
| Name of CEO / Managing director | Amit Mittal |
|---|---|
| Name of CFO | Lalit Kumar |
| Name of audit committee chairman | Atima Khanna |
| Name of statutory auditor | MRKS & Associates |
| Name of other signatory, if any, with designation | |
| Place | Gurugram |
| Date | 14-07-2026 |