Supreme Infrastructure Board Approves Audited FY26 Results; Reconstitutes Committees
Supreme Infrastructure India Limited's Board approved audited standalone and consolidated financial results for the year ended March 31, 2026. The company's Board also reconstituted its Audit, Nomination & Remuneration, and Stakeholders' Relationship Committees. The auditors issued a qualified opinion on the financial results due to concerns over receivables, investments in subsidiaries under CIRP, and interest reversal, indicating a material uncertainty regarding going concern.
The qualified audit opinion, going concern uncertainty, and significant financial risks highlighted in the auditor's report have a substantial impact on the company's financial health and investor confidence.
The auditors' report highlights significant issues including a qualified opinion, concerns about recoverability of receivables and investments, and a material uncertainty regarding the company's ability to continue as a going concern. These factors point to a negative financial outlook.
Supreme Infrastructure India Limited announced the outcome of its Board Meeting held on July 09, 2026. The Board considered and approved the Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026, along with the Audit Report from the Statutory Auditors.
Additionally, the Board approved the reconstitution of the composition of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee. The meeting commenced at 5:00 pm and concluded at 7:40 pm.
The auditors' report highlighted a qualified opinion on both standalone and consolidated financial results. Significant concerns were raised regarding trade receivables and other current assets, non-current investments and trade receivables related to erstwhile subsidiaries Supreme Infrastructure BOT Private Limited (SIBPL) and Supreme Panvel Indapur Tollways Private Limited (SPITPL) due to their admission to Corporate Insolvency Resolution Process (CIRP) and lack of recoverable evidence. The auditors also noted the reversal of interest amounts pertaining to three lenders and the non-accrual of interest, which has overstated profit and net worth.
A material uncertainty related to the going concern basis of accounting was identified due to accumulated losses and net worth erosion, although the management believes the going concern basis is appropriate based on partial implementation of a Scheme of Arrangement and other mitigating factors. The report also draws attention to corporate guarantees issued by the company to lenders of its subsidiary/group companies, which have defaulted on repayment, without the company recognizing any financial liability.
An exceptional item from a one-time settlement (OTS) of debts with some lenders, resulting in a gain of ₹3,67,801.46 lakhs, significantly impacted the company's financial performance for the year ended March 31, 2026.
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