Gammon India submits revised Q1FY26 results, auditor flags going concern risk
Awaiting price reaction for this filing.
Gammon India filed revised consolidated Q1FY26 results, restated due to Rs 126.28 Cr exchange gain misclassification. Revenue from operations fell to Rs 6.46 Cr from Rs 7.26 Cr YoY. Loss after tax narrowed to Rs 193.63 Cr from Rs 315.82 Cr. Auditor gave a qualified conclusion on Rs 30 Cr claims recoverability and Rs 830.74 Cr cumulative penal interest. Going concern uncertainty flagged - current liabilities exceed current assets by Rs 12,896 Cr, loans are NPA since 2017, trading is suspended. Resolution plan awaits lender consensus.
Restated results with qualified audit and going concern doubt highlight severe financial distress. Shareholders face high uncertainty on company survival and resolution plan outcome.