Twamev Construction and Infrastructure Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
TICL · price
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The Board approved unaudited Q1 FY26 results (quarter ended 30 June 2025), with standalone revenue of INR 1,174 lakh and standalone profit after tax of INR 582.5 lakh (EPS INR 0.38), but consolidated results swung to a loss of INR 13.4 lakh after tax. The auditor (J Jain & Company) issued a Limited Review Report with a Qualified Opinion, flagging issues at subsidiary Tantia Infrastructure (INR 543.83 lakh loan to an NBFC with no interest accounted) and step-down subsidiary Tantia Raxaultollway (TRPL), which abandoned its only NHAI project and has INR 98,618 lakh in pending arbitration claims, NPA bank facilities, and a DRT case filed by the lead bank. Multiple Emphasis of Matter points were raised, including pending NPA-to-standard upgrade tied to a INR 2,100 lakh resolution plan settlement under NCLT Kolkata, missing gratuity/leave encashment provisions, INR 103 lakh of unbilled revenue, and an associate company (TSPL) under CIRP. The 60th AGM is set for 24 September 2025, with proposed amendments to MOA/AOA and a cut-off date of 15 September for e-voting. Promoter Tarun Chaturvedi also reduced his stake from 94.33% to 91.33% via an OFS to comply with minimum public shareholding norms.
Significant red flags: consolidated profitability turned negative despite positive standalone numbers, qualified audit opinion, and explicit going-concern language around TRPL (NPA loans, abandoned project, DRT case) raise concerns for shareholders. Large pending arbitration claims of nearly INR 1,000 crore and unresolved NPA upgrade for the resolution plan could weigh on stock sentiment and introduce uncertainty around the company's financial position.