AJR INFRA AND TOLLING LIMITED has submitted to the Exchange, the financial results for the period ended December 31, 2025.
Awaiting price reaction for this filing.
AJR Infra and Tolling Limited (formerly Gammon Infrastructure Projects) reported zero revenue from operations for the quarter ended December 31, 2025, with only ₹245.53 lacs in other income. Total expenses stood at ₹384.23 lacs, resulting in a loss before tax of ₹138.70 lacs and a loss after tax of ₹138.62 lacs for Q3. For the nine-month period, a one-time exceptional gain of ₹31,319.27 lacs from the reversal of provisions related to the Sidhi Singrauli Road Project (SSRPL) one-time settlement swung the bottom line to a profit of ₹30,636.42 lacs. The company's other equity remains deeply negative at ₹(1,52,382.79) lacs. The auditor flagged a material uncertainty on going concern, noting current liabilities of ₹1,10,161.93 lacs far exceed current assets, alongside multiple stressed SPV projects and ongoing litigation.
The headline profit is entirely driven by a one-time accounting reversal from a debt settlement, not from any operating business — operational revenue is nil and underlying losses continue. The going concern warning and severely negative net worth signal serious financial distress; shareholders face significant risk despite the positive nine-month PAT.