Outcome of Board Meeting held on 30th May, 2026 pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
Awaiting price reaction for this filing.
Gammon India reported FY2026 standalone revenue of Rs. 98.98 crore (up from Rs. 81.18 crore), but posted a massive net loss of Rs. 1,189 crore versus Rs. 1,078 crore loss in prior year. The company's net worth is deeply negative at Rs. 11,755 crore. The auditors issued a qualified opinion on two matters: disputed penal interest charges of Rs. 911.54 crore and claims of Rs. 10 crore whose realization is uncertain. More critically, the auditor highlighted material uncertainty about going concern as current liabilities exceed current assets by Rs. 12,701 crore, lenders have initiated recovery suits and winding up petitions, and the resolution plan remains pending. Additional emphasis was placed on Rs. 532.91 crore of trade receivables from arbitration awards pending court appeals. The company also appointed a new independent director and cost auditor.
The stock is already suspended from trading. For existing shareholders, the company remains in severe financial distress with mounting losses, ongoing litigation from lenders, and an unresolved debt restructuring plan. The negative net worth and going concern uncertainty indicate extremely high risk of potential liquidation or delisting.