Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Limited Review Revised June 2025 Results approved in Board meeting dated 14th November 2025.
Awaiting price reaction for this filing.
Gammon India Limited submitted its revised consolidated financial results for the quarter ended June 30, 2025, originally adopted on September 19, 2025 and now revised on November 14, 2025. The revision was due to a misclassification of a Rs 126.28 crore exchange gain, which has now been correctly moved from Other Income to the foreign currency translation reserve (no impact on total equity). Revenue from operations collapsed to just Rs 3.46 crore in Q1 FY26, down sharply from Rs 48.61 crore in the previous quarter. The company reported a loss after tax of Rs 193.63 crore (EPS of Rs -5.24), driven mainly by finance costs of Rs 317.60 crore. The statutory auditor issued a Qualified Conclusion, highlighting disputed claims of Rs 30 crore, unrecorded penal interest of Rs 830.74 crore from lenders, and a subsidiary-level RBI non-compliance issue. The auditor also explicitly flagged a Material Uncertainty Relating to Going Concern, noting that current liabilities exceed current assets by Rs 12,896.08 crore, the company's facilities have been classified as NPA since June 2017, equity trading is suspended, winding-up petitions have been filed, and a SARFAESI notice over Gammon House property has been issued for a demand of Rs 1,136.71 crore.
This filing paints a deeply distressed picture for shareholders — the business is barely operational, heavily indebted, and dependent on an unapproved lender resolution plan to survive. With qualified audit conclusions, a going-concern warning, suspended share trading, and large write-offs/exceptional items, the stock remains a high-risk bet with no near-term catalyst visible.