NSE: GVKPIL · BSE: 532708
GVK POW. & INFRA LTD.
Operates a power generation business that contributed Rs. 82.6 crore in segment revenue for FY26, the entirety of segment revenue after subsidiaries were deconsolidated. Standalone revenue for FY26 was Rs. 8,053 lakhs versus Rs. 83,030 lakhs in the prior year, a 90% decline as stated in the filings, following the deconsolidation of GVK Energy Limited in May 2025 and GVK Transportation in August 2024. Roads and other legacy segments reported zero revenue in FY26. The company has been under Corporate Insolvency Resolution Process since July 15, 2024, with total admitted financial creditor claims of Rs. 15,94,489 lakhs and an auditor disclaimer of opinion citing going concern doubts. The cost structure is dominated by other operating expenses at 461.1% of revenue and depreciation at 27.6% of revenue, against a shrunken consolidated revenue base of Rs. 80.53 crore. Contingent liabilities include guarantees of USD 1,132.45 million tied to associate GVK Coal Developers Singapore and an English court order of USD 2.19 billion. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Power (100%), Others (0%). Asset-heavy holding group under insolvency proceedings, with consolidated revenue shrunken after subsidiary deconsolidations
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 858 | 2,120 | 1,080 | 802 | 81 |
| EBITDA (ex other income) | 796 | 4,560 | 927 | 1,223 | (1,336) |
| margin % | 92.7 | 215.1 | 85.8 | 152.4 | (1658.5) |
| Owners' profit | 2,645 | (1) | 20 | 565 | (840) |
| EPS, as reported (₹) | 16.75 | 15.44 | (0.13) | 3.58 | (5.32) |
| ROE % · ROCE % | (85.7) · 147.8 | 677.9 · 115.6 | 37.5 · 20.3 | 51.2 · 68.0 | 634.6 · (1357.8) |
| Debt / equity (x) | (3.42) | 12.94 | 8.17 | 2.89 | (3.22) |
| Cash from operations | 343 | 1,620 | 794 | 599 | 6 |
| Capex | 0 | (4) | 0 | (10) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 391 | 143 | 44 | 81 | 0 | 0 | 0 | 0 |
| Profit before tax | 816 | (17) | (156) | (1,377) | (1) | (1) | (3) | (1) |
| Net profit | 811 | (23) | (195) | (1,377) | (1) | (1) | (3) | (1) |
| EPS (₹) | 4.57 | (0.09) | (0.83) | (5.28) | (0.01) | (0.01) | (0.02) | 0.00 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · NCLT Restores GVK Power's Insolvency Resolution Process | regulatory legal | high | — | — |
| 3 Nov 2026 · Board to approve September 2026 quarter and half-year results on 13 November | results | low | — | — |
| 29 Oct 2026 · Five Australian GVKCDPL subsidiaries enter liquidation | regulatory legal | high | — | — |
| 6 Oct 2026 · RTA certificate under SEBI Reg 74(5) for Sep 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · Voting results filed for 32nd AGM held on Sept 30, 2026 | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · 32nd AGM results - all 4 resolutions passed with over 99.96 percent approval | compliance | medium | — | — |
| 30 Sept 2026 · AGM held under CIRP; CoC to decide on new resolution round or liquidation | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 for GVK Power Q2 results declaration | compliance | minimal | — | — |
| 9 Sept 2026 · 32nd AGM notice published in newspapers, set for 30 Sep | compliance | minimal | — | — |
| 8 Sept 2026 · GVK Power 32nd AGM notice and FY26 Annual Report, company under insolvency | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.