Sadbhav Infrastructure Project Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
SADBHIN · price
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Sadbhav Infrastructure Project Limited reported audited standalone results for FY2026 ending March 31, 2026. Total income stood at INR 15,030 million compared to INR 11,686 million in the previous year, reflecting approximately 28.6% growth. The company swung from a net loss of INR 1,199.67 million in FY2025 to a net profit of INR 185.86 million in FY2026, largely driven by an exceptional gain of INR 2,416.52 million arising from waiver of a loan from subsidiary Ahmedabad Ringroad Infrastructure Projects Limited (ARRIL). However, the statutory auditors issued a qualified opinion, unable to confirm the recoverability of INR 8,043.91 million in investments, subordinate debt, loans and receivables related to two subsidiaries — Rohtak Panipat Tollway Private Limited and Rohtak Hissar Tollway Private Limited — whose net worths have been fully eroded. The notes explicitly raise going concern, citing substantial accumulated losses, reduced income from operations, and legal action by debenture holders for payment. The company also appointed Mr. Kaivan Vora as Chief Financial Officer effective May 27, 2026.
The qualified auditor opinion on INR 8,043.91 million of recoverable value and the explicit going concern note represent serious red flags for investors. While the company reported a net profit for the year, this was driven by an exceptional gain rather than core operations, and multiple ongoing legal disputes with NHAI remain unresolved.