Revised Outcome of the meeting of Board of Directors of Sadbhav Infrastructure Project Limited (''the Company'') held on Tuesday, 12th August, 2025.
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Sadbhav Infrastructure Project Limited filed a revised outcome of its August 12, 2025 board meeting after originally omitting the re-appointment item. The board approved standalone and consolidated unaudited results for Q1 FY26 (quarter ended June 30, 2025). On a standalone basis, revenue from operations was Rs 43.55 million with a net loss of Rs 171 million, narrower than the Rs 1,307.43 million loss in the previous quarter. On a consolidated basis, revenue rose to Rs 1,862.81 million and the company swung to a net profit of Rs 258.57 million versus a loss of Rs 159.29 million in Q1 FY25. Mr. Shashin V. Patel was reappointed as Executive Chairman for three years from February 14, 2026 to February 13, 2029, subject to shareholder approval. The 19th AGM is scheduled for September 30, 2025 via video conferencing. The statutory auditor issued a qualified (modified) review opinion, flagging concerns over recovery of about Rs 8,047 million exposure to two stressed toll-road subsidiaries (RPTPL and RHTPL) and Rs 1,198.50 million in SRHL, and explicitly cited material uncertainty about the company's ability to continue as a going concern.
Consolidated profitability has turned around, but the standalone business remains loss-making and the auditor has flagged a going-concern risk plus qualified opinion on stressed subsidiary receivables, which is negative for the stock. Continuity at the top with the Chairman's re-appointment provides stability but does not address the underlying financial concerns.