GTL Limited has submitted to the Exchange, the financial results for the quarter and year ended March 31, 2026.
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GTL Limited reported FY2026 revenue of Rs 22,437.20 lakhs, down 11.6% from Rs 25,387.94 lakhs in FY2025. The company posted a net profit of Rs 58,254.74 lakhs (vs loss of Rs 838.18 lakhs last year), driven almost entirely by exceptional items of Rs 61,044.45 lakhs, primarily from accounting impact of its One Time Settlement (OTS) with lenders (Rs 73,991.19 lakhs) partially offset by a Rs 17,900 lakh crystallized pledge claim. Before exceptional items, the company reported a loss of Rs 6,324.71 lakhs. Auditors GDA & Associates issued a modified opinion for the ninth consecutive time because the company did not provide Rs 21,296.46 lakhs of interest on unsettled borrowings; had it been recognized, profit would reduce to Rs 33,423.28 lakhs and EPS from Rs 37.03 to Rs 23.49. The company's net worth remains deeply negative at Rs -5,44,605.26 lakhs and current liabilities exceed current assets by over Rs 513 crore.
The modified audit opinion (ninth in a row), severely negative net worth, and going concern uncertainty indicate extreme financial distress. The profit boost from OTS accounting gains is non-recurring and masks underlying operational weakness with revenue declining and losses before exceptional items. Shareholders face ongoing risk as three lenders remain unsettled and the company's ability to continue as a going concern is in serious doubt.