Sadbhav Infra reports Q2 & H1 losses, announces KMP changes, auditors issue qualified opinion
Sadbhav Infra reported significant losses for Q2 and H1 2025, appointed a new Company Secretary, and accepted the CFO's resignation. Auditors issued a qualified opinion on subsidiary investments.
The announcement includes significant financial losses, key management personnel changes (CFO resignation, CS appointment), and a qualified audit opinion on major investments, all of which can materially impact the company's financial health and investor confidence.
The company reported substantial losses for both the quarter and half-year, and the auditors issued a qualified opinion regarding the recoverability of significant investments in subsidiaries, indicating financial instability and uncertainty.
* The Board of Directors of Sadbhav Infrastructure Project Limited approved standalone and consolidated unaudited financial results for the quarter and half year ended September 30, 2025. * For the quarter ended September 30, 2025, the company reported a total income of ₹2.41 million (₹0.241 crore) and a loss before tax of (₹5,862) million ((₹586.2) crore). * For the half year ended September 30, 2025, the total income was ₹28.86 million (₹2.886 crore) and the loss before tax was (₹3,797.9) million ((₹379.79) crore). * The Board approved the appointment of Mr. Kedar Pandya as Company Secretary & Compliance Officer, effective November 12, 2025. * The resignation of Mr. Jatin Thakkar from the position of Chief Financial Officer (CFO) was approved, effective November 12, 2025, due to personal reasons. * The statutory auditors expressed a qualified conclusion on the unaudited standalone financial results regarding the recoverable value of the company's investments (including subordinate debt), loans, and trade & other receivables given to subsidiaries like Rohtak Panipat Tollway Private Limited (RPTPL), Rohtak Hissar Tollway Private Limited (RHTPL), and Sadbhav Rudrapur Highway Limited (SRHL). * For RPTPL, an arbitral award of ₹10,805.45 million (₹1,080.545 crore) was declared on January 23, 2025, and a settlement agreement for approximately ₹650 million (₹65 crore) was reached on March 20, 2025, under the Vivad se Vishwas II Scheme. * The company acknowledged substantial losses and a significant reduction in income, raising concerns about its ability to continue as a going concern. However, management believes it can continue based on asset monetization, claim realization, and cost control measures.
What to do with a filing like this
Sadbhav Infrastructure Project 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 Sadbhav Infrastructure Project Limited. Read the original for the full detail.