Pursuant to Regulation 33 (Listing Obligations and Disclosure Requirements) Regulations, 2015 Limited Review results for June 2025 approved by Board in meeting dated 19th September 2025.
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Gammon India reported deeply negative Q1 FY26 results, with standalone revenue from operations collapsing to just Rs 0.68 crore (down from Rs 6.05 crore a year earlier). Finance costs alone stood at Rs 267.66 crore, leading to a standalone loss after tax of Rs 288.82 crore and EPS of Rs (7.83). Consolidated loss after tax was Rs 67.35 crore, cushioned by other income of Rs 253.07 crore. The statutory auditor issued a qualified conclusion, citing unresolved claims of Rs 30 crore and disputed penal interest of Rs 27.10 crore (cumulative Rs 830.74 crore) not provided for. The auditor also flagged a material uncertainty relating to going concern, noting current liabilities exceed current assets by Rs 11,735.67 crore (standalone) / Rs 12,896.08 crore (consolidated), NPA status since June 2017, suspended trading in equity shares, and multiple winding-up petitions. Management continues to prepare accounts on a going-concern basis relying on a pending debt resolution plan with lenders.
Shares remain suspended from trading, other equity is deeply negative at around Rs (10,640) crore standalone, and the company's survival hinges on lender approval of a restructuring plan. Shareholders face high risk with no near-term path to profitability or operational revival unless the resolution plan is accepted by all lenders.