Gammon India Limited Holds 104th AGM; Reports FY26 Standalone Loss of ₹1189 Cr
Gammon India Limited held its 104th AGM on August 29, 2026. For FY26, standalone turnover was ₹85.18 Cr with a net loss of ₹1189.01 Cr. Consolidated turnover was ₹94.48 Cr with a net loss of ₹1170.34 Cr. The company expects equity share relisting on BSE/NSE soon.
The substantial net losses and high finance costs indicate ongoing financial challenges. However, the positive steps like increased turnover, potential share relisting, and management's efforts to resolve debt could positively impact investor confidence and future performance.
The company reported significant losses for FY26, which is a negative development. However, the increase in turnover and the prospect of relisting on stock exchanges provide some positive aspects, balancing the overall sentiment to neutral.
Gammon India Limited conducted its 104th Annual General Meeting (AGM) on August 29, 2026, held virtually via Video Conferencing / Other Audio Visual Means. The meeting commenced at 2:30 p.m. and concluded at 3:30 p.m. The proceedings included a review of the company's performance for the financial year ended March 31, 2026.
On a standalone basis, Gammon India reported a turnover of ₹85.18 crore for FY26, a significant increase from ₹21.23 crore in the previous fiscal. However, the company posted a net loss after tax of ₹1189.01 crore for FY26, compared to a net loss of ₹1078.14 crore in FY25. Interest and finance costs remained high, amounting to ₹1123.06 crore for the year.
On a consolidated basis, the Gammon Group's turnover stood at ₹94.48 crore for FY26, up from ₹67.89 crore in FY25. The consolidated net loss after tax was ₹1170.34 crore, a slight improvement from ₹1192.34 crore in the previous year. The losses were primarily attributed to provisions made for the company's funded and non-funded exposure of loans and investments.
During the AGM, shareholders raised questions regarding dividend payouts, current and future projects, targeted growth, revenue, and the company's revival plans. The Chief Executive Officer, Mr. Ajit Desai, addressed these queries, assuring shareholders that the management is working diligently to resolve liquidity issues and settle debts with lenders. He explained that no dividend was declared due to the absence of profits.
Key agenda items for the AGM included the adoption of financial statements, appointment of Mr. Ajay Bhatnagar and Mr. Radhakrishnan Nair Bhaskaran Pillai as Non-Executive Independent Directors, and the approval of payment to the Cost Auditor. The company also informed members that its equity shares are to be relisted on BSE and NSE following an order from the Securities Appellate Tribunal (SAT), pending procedural compliances.
E-voting was conducted electronically, and the results were to be announced within two working days of the meeting's conclusion, along with the Scrutinizer's report, and uploaded on the company's website.
A plain-language summary of a public exchange filing by Gammon India Limited. Read the original for the full detail.