Outcome of the Board Meeting and Submission of Audited Standalone & Consolidated financial results for the fourth quarter and year ended 31st March, 2026
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Gayatri Highways Ltd reported standalone profit after tax of Rs. 2,057.60 lakhs for FY26, a massive jump from Rs. 30.67 lakhs in FY25, driven primarily by a Rs. 3,459.50 lakh write-back of liabilities not required. Total income doubled to Rs. 5,205.83 lakhs from Rs. 2,586.66 lakhs. However, the auditors issued a qualified opinion due to multiple issues: discrepancies in loan write-backs with Gayatri Projects Ltd (Rs. 4,816.12 lakhs), default on IL&FS term loan of Rs. 3,822.65 lakhs plus accumulated interest, non-provision of interest for 3 years (Rs. 1,720.20 lakhs), and failure to impair investments in joint ventures Cyberabad Expressways Ltd and Hyderabad Expressways Ltd totaling Rs. 4,946.42 lakhs. The company also defaulted on repayments totaling Rs. 5,015.86 lakhs. Standalone other equity stands at negative Rs. 21,965.02 lakhs, indicating severe negative net worth. The company agreed to sell its stake in HKR Roadways Ltd to Cube Highways by June 2026.
Despite showing profit growth, the company faces serious financial health concerns with negative net worth, loan defaults, qualified audit opinion, and pending asset sales. Shareholders should be cautious as multiple auditor qualifications indicate potential material misstatements in financial statements.