Sadbhav Infrastructure Project Limited has informed the Exchange regarding Outcome of Board Meeting held on May 27, 2026.
SADBHIN · price
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The Board approved audited standalone financial results for FY2026 showing total income of Rs 11,636 million and profit after tax of Rs 185.86 million. However, the auditors issued a qualified opinion regarding INR 8,043.91 million in investments, subordinate debt, and receivables from two subsidiaries (RPTPL and RHTPL) whose net worth has fully eroded due to toll suspension since December 2020. The company reported exceptional gains of Rs 2,416.52 million from loan waiver by ARRIL offset by impairment provisions of Rs 925.60 million and Rs 336.76 million for Sadbhav Rudrapur and Udaipur highway subsidiaries respectively. Notes to accounts explicitly raise going concern doubts citing substantial losses, reduced income, and debenture holders initiating legal action demanding payment. A new CFO, Mr. Kaivan Vora, was appointed.
The qualified auditor opinion on INR 8,043.91 million of recoverable value and explicit going concern flag indicate serious financial distress. The debenture holders' legal action and pending DRT case of Rs 1,112.55 million create additional liquidity pressure, despite some positive developments like the loan waiver and asset monetization.