With reference to your email dated June 02, 2025 and pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, we are submitting herewith: (i) Audited Standalone & Consolidated Financial ....
Awaiting price reaction for this filing.
AJR Infra And Tolling Ltd (formerly Gammon Infrastructure Projects Ltd) reported audited results for FY25 showing no standalone revenue from operations and total income of just Rs 1,160.22 lakhs, down from Rs 2,022.02 lakhs in FY24. The company posted a standalone net loss of Rs 11,172.09 lakhs (after exceptional items of Rs 5,686 lakhs mainly impairment of investments), though loss narrowed from Rs 24,086.59 lakhs a year ago. On a consolidated basis, revenue from operations fell to Rs 3,460.68 lakhs from Rs 6,122.98 lakhs, with a pre-exceptional loss of Rs 24,394.03 lakhs. The auditor flagged a 'Material Uncertainty relating to Going Concern' as current liabilities exceed current assets by Rs 1,43,974.95 lakhs, and raised multiple Emphasis of Matter points on stressed subsidiaries (PHPL insolvency, Pravara possession dispute, SSRPL settlement, ICTPL exposure). Other equity is deeply negative at Rs (1,52,382.79) lakhs against a paid-up equity capital of Rs 18,917.64 lakhs. Operating cash flow was negative at Rs (12,136.95) lakhs.
Shareholders face a deeply distressed company with negative net worth, zero operating revenue at the standalone level, massive contingent liabilities from invoked corporate guarantees (Rs 1,19,024.39 lakhs alone for PHPL), and an explicit going-concern warning from auditors — significant risk of further value erosion or restructuring.