Sadbhav Infrastructure Project Limited has informed the Exchange regarding Board meeting held on February 12, 2026.
SADBHIN · price
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Awaiting price reaction for this filing.
The Board approved standalone and consolidated unaudited financial results for Q3 FY26 and nine months ended December 31, 2025, with the statutory auditor issuing a qualified conclusion and a modified opinion. On a standalone basis, Q3 FY26 loss ballooned to ₹1,199.67 million from ₹198.62 million in Q2 FY26, largely due to a ₹1,000 million exceptional impairment provision for subsidiary Sadbhav Rudrapur Highway; 9M FY26 standalone loss stood at ₹1,569.29 million versus ₹73.48 million in 9M FY25. On a consolidated basis, 9M revenue grew to ₹5,728.79 million from ₹5,042.16 million, but the company swung to a ₹410.05 million net loss from a ₹375.16 million profit in the prior-year period, after exceptional charges of ₹1,398.27 million. The auditor flagged inability to corroborate the carrying value of ₹8,043.45 million in investments, sub-debt, loans and receivables related to two troubled toll-road subsidiaries (RPTPL and RHTPL) whose net worth is fully eroded. The auditor also explicitly highlighted material uncertainty about the company's ability to continue as a going concern given sustained losses, shrinking operations, debenture holder legal action, and upcoming Series B debenture redemption in July 2026.
Negative for shareholders — persistent qualified audit opinion, fresh ₹1,000 million exceptional write-off, going-concern flag from auditor, and pending debenture redemptions against weak standalone revenue suggest continued pressure on the stock and solvency concerns. Resolution of NHAI arbitration claims at troubled subsidiaries remains the key swing factor.