DHARAN INFRA-EPC LIMITED has submitted to the Exchange, the financial results for the period ended September 30, 2025.
DHARAN · price
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Dharan Infra-EPC (formerly KBC Global) filed delayed unaudited Q2 and H1 FY26 results on March 6, 2026, attributing the delay to late financial data from subsidiaries. Standalone revenue from operations collapsed to ₹315.06 lakhs in H1 FY26 from ₹1,553.01 lakhs in H1 FY25, an roughly 80% year-on-year fall, while the company reported a standalone net loss of ₹1,160.92 lakhs and a consolidated net loss of ₹1,255.05 lakhs. The company is under Corporate Insolvency Resolution Process (CIRP) after NCLT admitted Tata Capital Housing Finance's petition for a ₹28.04 crore default on December 12, 2025; a ₹10 crore settlement was later paid and the Interim Resolution Professional has filed a Section 12A withdrawal application, with the next hearing set for March 20, 2026. The auditor (Sharp Aarth & Co LLP) issued a qualified opinion, flagging FEMA violations related to misuse of USD 95 million FCCB proceeds, and explicitly highlighted material uncertainty about the company's ability to continue as a going concern given sustained losses, mostly non-operational construction sites, and unpaid statutory dues including GST, income tax, and TDS.
This is a high-risk, distressed situation for shareholders — the company is under insolvency proceedings, carries a qualified audit opinion, and has going-concern doubts, meaning stock price remains vulnerable and outcomes hinge on the March 20, 2026 NCLT hearing and the pending RBI compounding process for FEMA violations.