Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Limited Review September 2025 Results approved in Board Meeting dated 14th November 2025.
Awaiting price reaction for this filing.
Gammon India posted deeply negative numbers for Q2 and H1 FY26. Standalone revenue from operations was just Rs 7.16 crore in Q2 (vs Rs 6.56 crore a year ago) and Rs 2.84 crore for the half year (vs Rs 12.61 crore last year), while standalone loss after tax widened to Rs 314.36 crore in Q2 and Rs 603.18 crore in H1 (vs Rs 525.86 crore loss last H1). Other equity is a negative Rs 11,234 crore standalone and Rs 12,358 crore consolidated, meaning total equity is deeply negative. The auditors issued a qualified conclusion flagging uncertainty over Rs 30 crore of contract claims and Rs 862.22 crore of disputed penal interest/charges treated as a contingent liability. The company explicitly highlighted material uncertainty about going concern, with current liabilities exceeding current assets by over Rs 12,000 crore, loans classified as NPA since June 2017, winding-up petitions, and SARFAESI action on the Gammon House property (Rs 1,136.71 crore demand). Trading in the stock remains suspended and lenders have not reached consensus on the resolution plan.
Extremely negative for shareholders. The company is technically insolvent on a book basis, operations remain stalled, and the resolution plan is stuck with lenders, raising serious doubts about survival as a going concern. With trading already suspended and no fresh progress on restructuring, equity holders face very high risk of further dilution or total loss.