Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 audited Results for the Quarter and year ended 31st March, 2025 approved by Board in ....
Awaiting price reaction for this filing.
Gammon India reported audited results for FY25 with standalone revenue from operations falling sharply to ₹22.23 crore from ₹39.25 crore a year earlier, and a net loss of ₹1,078.13 crore (vs ₹1,963 crore loss in FY24). The company's net worth is deeply negative at ₹(10,565.84) crore on a standalone basis, with current liabilities exceeding current assets by ₹11,446.84 crore. The auditors issued a qualified opinion flagging ₹30 crore of disputed contract claims and ₹803.64 crore of cumulative penal interest/charges from lenders that the company is disputing. The company also disclosed a material uncertainty regarding going concern — loan facilities have been classified as NPA since June 2017, lenders have recalled facilities, and a winding-up petition has been filed under the IBC at NCLT Mumbai.
This is a high-risk, deeply distressed situation for shareholders — the company is loss-making, has negative net worth of over ₹10,500 crore, faces going-concern uncertainty, and is under IBC-related proceedings with lenders. The stock price is likely to remain under severe pressure, and equity holders face significant dilution or wipe-out risk if the proposed restructuring plan with lenders is approved.