Twamev Construction and Infrastructure Limited has informed the Exchange regarding Board meeting held on August 12, 2025.
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Awaiting price reaction for this filing.
The Board approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025). Standalone revenue from operations stood at INR 1,174 lakh (including INR 103 lakh of unbilled revenue), with a profit after tax of around INR 16.5 lakh. The auditor (J Jain & Company) issued a qualified opinion on the consolidated results, flagging issues at subsidiaries — including a step-down subsidiary TRPL whose only project was abandoned after NHAI termination, with a pending arbitration claim of INR 98,618 lakh and bank facilities classified as NPA. The company is awaiting NPA-to-standard account upgrade to make a INR 21 crore resolution plan payment as per the NCLT order. Promoter Tarun Chaturvedi sold 2.998% of equity (46.48 lakh shares) via OFS to comply with minimum public shareholding norms, reducing promoter holding from 94.33% to 91.33%. The 60th AGM is scheduled for September 24, 2025.
Multiple red flags — qualified audit opinion, going-concern type issues at the step-down subsidiary (project loss, NPA loans, DRT case, NHAI takeover of assets), large pending arbitration, and non-compliance with Ind AS 19 on gratuity provisioning — point to material financial and governance risks. Shareholders should treat the stock as high-risk despite the routine promoter OFS being a compliance-driven event.