Gayatri Highways Q3 FY26 Results: Net Loss Widens Amid Qualified Audit Report
Gayatri Highways reported Q3 FY26 results with total income of ₹54.95 Lakhs and a net loss of ₹350.91 Lakhs. The company declared an interim dividend of ₹25 per share. The results are subject to auditor qualifications regarding loan defaults, unconfirmed write-backs, and non-impairment of investments in subsidiaries.
The qualified audit opinion, detailing significant financial irregularities, loan defaults, and potential misstatements in the financial results, poses a substantial risk and uncertainty for the company's financial health and investor confidence.
The financial results show a significant drop in income and a net loss for the quarter. More importantly, the auditor's report highlights several significant qualifications related to loan defaults, unconfirmed financial adjustments, and potential overstatement of equity due to non-impairment of investments, which severely impacts the reliability of the reported financials.
Gayatri Highways Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. The company reported a total income from operations of ₹54.95 Lakhs for the quarter, a significant decrease from ₹514.87 Lakhs in the same period last year. The net loss after tax for the quarter stood at ₹350.91 Lakhs, compared to a net loss of ₹393.22 Lakhs in the corresponding quarter of the previous year. For the nine months ended December 31, 2025, the total income from operations was ₹3,693.48 Lakhs, and the net profit after tax was ₹2,292.58 Lakhs.
However, the financial results are accompanied by a qualified conclusion from the statutory auditors. Several significant issues have been raised, including the write-back of a Zero Interest Subordinate Loan (ZISL) payable to Gayatri Projects Limited without confirmation, and defaults in repayment of term loans to IL&FS Financial Services Limited. The auditors also noted that interest on a defaulted term loan was not provided for the current periods, leading to an understatement of expenses and net loss. Furthermore, the company has not impaired its investments and loans to jointly controlled entities (Cyberabad Expressways Limited and Hyderabad Expressways Limited) to the extent required, resulting in an overstatement of other equity. The consolidated financial results also reflect similar concerns regarding loan defaults and impairments, as well as issues with the consolidation of a material subsidiary, Indore Dewas Tollways Limited, which has been admitted into Corporate Insolvency Resolution Process.
The company also announced an interim dividend of ₹25 per equity share (250%) for the period ended December 31, 2025. The Board of Directors approved these results on February 12, 2026.
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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.