Board approves FY26 results, demerger of EPC biz to Adani Infra, 2 new independent directors

Punj Lloyd board approved audited FY26 results and a scheme to demerge its Indian EPC business (turnover Rs 209.13 Cr) into Adani Infra (India) Ltd via unlisted preference shares, no cash. Two independent directors (Sushama Oza, Toral Rajput) appointed for 3 years. Company was in liquidation since 2022; NCLT approved Adani acquisition plan in Feb 2026 with Rs 13,118 Cr debt cancelled. Auditor gave a qualified opinion on inventory and asset impairment.