Gayatri Highways Limited Q3FY26 Results: Qualified Report Amidst Financial Concerns
Gayatri Highways Limited reported Q3FY26 results with a standalone net loss of ₹2,292.58 lakhs and consolidated net loss of ₹812.40 lakhs for nine months ended Dec 31, 2025. The company is selling its stake in HKR Roadways Limited. The financial results received a qualified report from auditors due to issues including loan defaults and impairment concerns.
The qualified audit report, coupled with significant financial concerns like loan defaults and potential impairments, has a material impact on the company's financial health and investor perception. The sale of stake in HKR Roadways Limited is also a significant corporate action.
The company's financial results were accompanied by a qualified audit report, citing several significant issues such as loan defaults, unconfirmed loan write-backs, and potential impairments in investments. These factors indicate financial instability and risk, leading to a negative sentiment.
Gayatri Highways Limited has submitted its Un-audited Standalone & Consolidated Financial Results for the Third Quarter and Nine months ended December 31, 2025.
The company addressed an observation from NSE regarding a typographical error in the Limited Review Report, where the period was incorrectly stated as September 30, 2025, instead of December 31, 2025, and a missing signature page. The management has submitted a revised and complete Standalone Limited Review Report.
The Board of Directors, in their meeting held on February 12, 2026, approved the Un-audited Standalone & Consolidated financial results along with the Limited Review Report. The results indicate a net loss after tax for the nine months ended December 31, 2025. Standalone net loss after tax was ₹2,292.58 lakhs, and consolidated net loss after tax was ₹812.40 lakhs.
Additionally, the Board approved the proposal to execute a Securities Purchase Agreement for the acquisition and sale of the Company's stake in HKR Roadways Limited to Cube Highways and Infrastructure V PTE Limited.
The Limited Review Report, issued by M/s. PRSV & Co. LLP, Chartered Accountants, has been qualified due to several significant issues. These include an unconfirmed write-back of a Zero Interest Subordinate Loan, defaults in repayment of term loans to IL&FS Financial Services Limited, and the non-provision of interest on outstanding term loans. Furthermore, the auditors noted a significant impairment required for investments and loans in jointly controlled entities, Cyberabad Expressways Limited (CEL) and Hyderabad Expressways Limited (HEL), due to their negative net worth. The auditors also highlighted concerns regarding the consolidation of Indore Dewas Tollways Limited, which is undergoing Corporate Insolvency Resolution Process (CIRP), and the fact that some subsidiary and jointly controlled entity financials were not reviewed by their respective auditors.
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Gayatri Highways Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Gayatri Highways Limited. Read the original for the full detail.