5415462026-01-012026-03-315415462026-03-315415462025-03-315415462025-04-012026-03-315415462026-01-012026-03-31in-capmkt:OtherExpenses1Member5415462026-01-012026-03-31in-capmkt:OtherExpenses2Member5415462025-04-012026-03-31in-capmkt:OtherExpenses1Member5415462025-04-012026-03-31in-capmkt:OtherExpenses2Member5415462026-03-31OtherCurrentAssetsDomain15415462026-03-31OtherCurrentFinancialLiabilitiesDomain15415462026-03-31OtherCurrentLiabilitiesDomain15415462026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15415462025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15415462026-01-012026-03-31RelatedPartyTransactionDomain15415462025-12-31RelatedPartyTransactionDomain15415462026-03-31RelatedPartyTransactionDomain15415462026-01-012026-03-31RelatedPartyTransactionDomain25415462025-12-31RelatedPartyTransactionDomain25415462026-03-31RelatedPartyTransactionDomain25415462026-01-012026-03-31RelatedPartyTransactionDomain35415462025-12-31RelatedPartyTransactionDomain35415462026-03-31RelatedPartyTransactionDomain35415462026-01-012026-03-31RelatedPartyTransactionDomain45415462025-12-31RelatedPartyTransactionDomain45415462026-03-31RelatedPartyTransactionDomain45415462026-01-012026-03-31RelatedPartyTransactionDomain55415462025-12-31RelatedPartyTransactionDomain55415462026-03-31RelatedPartyTransactionDomain55415462026-01-012026-03-31RelatedPartyTransactionDomain65415462025-12-31RelatedPartyTransactionDomain65415462026-03-31RelatedPartyTransactionDomain65415462026-01-012026-03-31AuditorDomain15415462026-01-012026-03-31in-capmkt:AuditedMember5415462026-03-31in-capmkt:AuditedMember5415462026-01-012026-03-31in-capmkt:AdjustedMember5415462026-03-31in-capmkt:AdjustedMember5415462026-01-012026-03-31AuditQualification15415462026-01-012026-03-31AuditQualification25415462026-01-012026-03-31AuditQualification35415462026-01-012026-03-31AuditQualification4iso4217:INRiso4217:INRxbrli:shares541546GAYAHWSNOTLISTEDINE287Z01012GAYATRI HIGHWAYS LIMITEDMain BoardEquity2025-04-012026-03-312026-05-252026-05-05INRLakhsQuarterlyFourth quarterSingle segmentConstruction, invest, operations and maintenance of roads, highways, vehicle bridges and tunnels and toll roads on BOT, BOOT, BOLT, EPC basis or in any manner2026-05-2512:13:002026-05-2515:40:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2026-02-12https://www.gayatrihighways.com/pdf/CorpGov/Related_Party_Transaction_Policy_01-04-2022.pdffalsetrue2026-01-012026-03-31AuditedStandalone1455150005720000151235000000103100037732000104000136097000174964000-237290000-2372900021300002130000-239420000000-23942000444000-234980004793040002-0.1-0.100-0.1-0.1Please refer the published results available in BSE and NSE for the detailed notes.2025-04-012026-03-31AuditedStandalone14551500037506800052058300000010930001509300005090001594880003120200002085630000208563000324700003247000020531600000002053160004440002057600004793040002-21965020000.860.86000.860.86Operating & maintenance expenses133422000Other Expenses2675000Operating & maintenance expenses149584000Other Expenses99040004020000000000780656000007806560000781058000007054200012559000002853280004814600003764600053453000572559000120776100002561378000479304000-2196502000-1717198000-1717198000318630600031863060008954000319526000085091800005913300059133000119321000102937200053810000134000108331600042785760002561378000Other current assets53453000Other current financial liabilities119321000Other current liabilities538100001509300000-485020000-5186700000100000316720000531000000509000064900000003459500002111100000000-28030000-233363000-24800000000285640000-53364000000000000420000000000000000000034595000000034590800000000000032181600000000-321816000-292720000-2927200015486200012559000000Re-measurement (loss)/gain on defined benefit plans444000444000Re-measurement (loss)/gain on defined benefit plans44400044400000444000444000GAYATRI HIGHWAYS LIMITED******CYBERABAD EXPRESSWAYS LIMITED******Jointly Controlled EntityInterest received10526000NA10526000142859000153385000Being interest receivable for the period.GAYATRI JHANSI ROADWAYS LIMITED******K G NAIDU******Chief Executive officerRemuneration15048000NA1504800000GAYATRI LALITPUR ROADWAYS LIMITED******K G NAIDU******Chief Executive officerRemuneration15048000NA1504800000GAYATRI HIGHWAYS LIMITED******GAYATRI JHANSI ROADWAYS LIMITED******Jointly Controlled EntityAdvance75900000NA75900000025300000The Company has obtained approval from the members through postal ballot for the material related party transaction.GAYATRI HIGHWAYS LIMITED******GAYATRI LALITPUR ROADWAYS LIMITED******Jointly Controlled EntityAdvance25300000NA25300000025300000The Company has obtained approval from the members through postal ballot for the material related party transaction.GAYATRI HIGHWAYS LIMITED******GAYATRI JHANSI ROADWAYS LIMITED******Jointly Controlled EntitySale of goods or services145515000NA14551500000The Company has obtained approval from the members through postal ballot for the material related party transaction.287337000AuditedQualified opinionM/s. PRSV & Co LLPtrue2027-09-30520583000520583000312020000369360000205760000-3462220000.86-1.442561378000206673600042785760004932208000-1717198000-2865472000The Company has written back Zero Interest Subordinate Loan (ZISL) payable to Gayatri Projects Limited (GPL) of Rs.17,887.51 Lakhs during the financial year 2022-23, out of which GPL has confirmed the write off of Rs.13,411.00 Lakhs and the balance of Rs.4,476.51 Lakhs is yet to be written off in GPL books. As a result, the other equity of the Company is overstated by Rs.4,476.51 Lakhs and the liabilities are understated by Rs.4,476.51 Lakhs. <br></br> <br></br> Further, an amount of Rs. 4,556.60 Lakhs is due to GPL towards the non-interest-bearing loan as per the books of the Company. But as per the confirmation from GPL, the amount due to them is Rs. 4,896.21 Lakhs. As a result, the other equity of the Company is overstated by Rs.339.61 Lakhs and the liabilities of the Company are understated by Rs.339.61 Lakhs. <br></br> Qualified opinionRepetitiveThe management is in disagreement with the quantified value as GPL is yet to pass necessary entries as per various agreements.Not applicableNot applicableNo further commentsThe Company has defaulted in repayment of outstanding term loan of Rs. 3,822.65 Lakhs and outstanding accumulated interest of Rs. 1,193.21 Lakhs (Interest was recognized in the financial statements till 31 March 2023) payable to IL&FS Financial Services Limited. The company has been calculating and recognizing interest only on the defaulted principle of Rs. 3,822.65 Lakhs as per the existing loan agreement since the Company has not received balance confirmation from the said lender. In the absence of balance confirmation, we are unable to comment on the carrying value of term loan principle and outstanding interest as at 31 March 2026 or any adjustment required to and the consequent impact if any on the financial statements had the confirmations been received from the lender.Qualified opinionRepetitiveNot ApplicableThe Management is not in a position to quantify the impact of audit qualification at this point of time.Management is unable to estimate the impact due to the Company has requested for confirmation of balances and is yet to be received.No further commentsThe Company did not provide interest on the outstanding term loan of Rs. 3,822. 65 Lakhs due to IL&FS Financial Services Limited for the period 01 April 2023 to 31 March 2026. The Companys records indicate that, had management provided interest for the period 01 April 2023 to 31 March 2026, the cumulative loss and the corresponding liability would have been increased by Rs. 1,720.20 Lakhs and total equity would have been reduced by Rs. 1,720.20 Lakhs calculated on interest of 15% p.a.Qualified opinionRepetitiveThe management is in negotiations to settle the debt amicably, hence it cannot quantify the actual liability at this point of time.Not ApplicableNot ApplicableNo further commentsa. The Company has invested Rs.434.32 lakhs as equity and 0.001% optionally convertible debentures of Rs.1,112.48 lakhs as well as advanced loans including interest till 31 March 2026 of Rs.2,853.28 lakhs. Further it has to receive an amount of Rs.83.52 lakhs towards receivable for deputation. All these amounts aggregate to Rs.4,483.60 lakhs in Cyberabad Expressways Limited (CEL), a jointly controlled entity. <br></br> <br></br> As per the audited financial statements of the CEL as on 31 March 2026, the negative net worth stood at Rs.12,864.50 lakhs. Consequent to the erosion in the net worth of CEL, the exposure of the Company to the extent of Rs. 4,483.60 lakhs is required to be impaired fully. IndAS 36 requires the company to provide for impairment in the value of investments and other financial assets by providing for the amount of impairment in the Profit & Loss Account. <br></br> <br></br> b. The Company has invested Rs. 1,581.36 lakhs as equity (50% share in equity) and Rs. 20.88 lakhs towards receivable for deputation aggregating to Rs. 1,602.24 lakhs in Hyderabad Expressways Limited (HEL), a jointly controlled entity. <br></br> <br></br> As per the audited financial statements of the HEL as on 31 March 2026, the positive net worth stood at Rs. 8,040.29 lakhs including a loan of Rs. 5,761.46 lakhs advanced to CEL. As per the above paragraph, CEL has a negative net-worth of Rs.12,864.50 lakhs as on 31 March 2026. <br></br> <br></br> Continuing for the reasons stated in the above paragraph, the loan advanced by HEL is in our opinion, doubtful of recovery resulting in reduction of net-worth of HEL to Rs. 2,278.83 lakhs. The Company owns 50% of the equity share capital of HEL and hence the Company share of net-worth in HEL works out to Rs. 1,139.42 lakhs vis--vis the exposure of Rs. 1,602.24 lakhs. This result in impairment to an extent of Rs.462.82 Lakhs from out of the investments made in HEL and Receivables due. Ind AS 36 requires the company to provide for this impairment in the value of investments and other financial assets by providing for the amount of impairment in the Profit & Loss Account. <br></br> <br></br> Since the Company has not impaired the cost of investments, debentures, loans granted to jointly controlled entities and trade receivables to an extent of Rs. 4,483.60 lakhs to CEL and Rs.462.82 Lakhs to HEL in its books, the Loss for the year and other Comprehensive Income are understated by the said amount. The other equity in the balance sheet is overstated by Rs. 4,946.42 lakhs. Our conclusion on the statement is qualified in respect of the above matters. <br></br> Qualified opinionRepetitiveThere is an income receivable by Cyberabad Expressways Limited (CEL) due from the Government of Telangana/HGCL/HMDA. The company has won the case in Arbitration, Commercial court and two additional cases in the Honble High Court of Telangana. Eventhough Section 37 petition is pending in Honble High Court of Telangana, the company is insisting the payment of dues through an Executive Petition in Commercial Court which is pending. The Company further informed that it is confident of winning the case and receive the amount of more than Rs. 400 Crores (approx.) from the Government of Telangana/HGCL/HMDA. <br></br> <br></br> But as there is still an opportunity to the government to further escalate the case in higher legal forums like High Court or Supreme Court, CEL, a Jointly controlled Entity, has not recognized the income as the receipt of funds is contingent in nature. Accordingly, the management has not impaired its cost of investments, loans and receivables from CEL and also from HEL. <br></br> Not ApplicableNot ApplicableNo further commentsK.G.NAIDUP.K.SAHOOM.V.NARASIMHA RAOY.VENKATESWARLUHYDERABAD2026-05-2550158600050158600000501586000