AJR Infra & Tolling appoints Amatulla Chunawala as Company Secretary

AJR Infra and Tolling Limited has appointed Ms. Amatulla Akil Chunawala as its Company Secretary and Compliance Officer effective June 22, 2026. The decision was taken by the Board of Directors at its meeting held on June 18, 2026, following recommendations from the Nomination and Remuneration Committee and the Audit Committee. Consequently, she has been designated as a Key Managerial Personnel (KMP) of the company under Section 203 of the Companies Act, 2013.

The appointment was disclosed to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed disclosure was provided in accordance with Part A of Schedule III of the SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2024/0155 dated November 11, 2024.

Profile of the Appointee

Ms. Amatulla Akil Chunawala holds Membership No. ACS-A80050 with the Institute of Company Secretaries of India. She possesses a bachelor's degree in law and has strong exposure to corporate compliance, regulatory filings, and secretarial functions. Her expertise spans Securities Laws, the Companies Act, and other Corporate Laws.

Appointment Details

The following table summarizes the key details of the appointment:

Sr. No.	Particulars	Details
1	Name	Ms. Amatulla Akil Chunawala
2	Reason for change	Appointment as Company Secretary & Compliance Officer and designated as Key Managerial Personnel.
3	Date of appointment	June 18, 2026
4	Brief Profile	Member of the Institute of Company Secretaries of India with a bachelor's degree in law. Expertise in corporate compliance, regulatory filings, Securities Laws, and Companies Act.
5	Disclosure of relationships between Directors	Not Applicable

The Board meeting commenced at 17:00 hours and concluded at 18:00 hours on June 18, 2026. Mineel Mali, Whole Time Director, signed the disclosure on behalf of AJR Infra and Tolling Limited.

AJR Infra and Tolling Limited reported a net profit of ₹31.42 crore for the financial year ended March 31, 2026, compared to a net loss of ₹9.68 crore in the previous year. The turnaround was primarily driven by exceptional income of ₹31.32 crore, largely stemming from the reversal of provisions related to the Sidhi Singrauli Road Project Limited (SSRPL) settlement. Revenue from operations for the year stood at ₹24.01 crore, a decrease from ₹51.52 crore in FY25.

The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at its meeting held on May 30, 2026. The statutory auditors, NV C & Associates LLP, issued an unmodified opinion on the results. However, the auditors highlighted a material uncertainty relating to the company's ability to continue as a going concern, noting that current liabilities exceeded current assets by ₹1,12,907.20 lacs as of March 31, 2026.

Financial Performance

The company's standalone financial results for FY26 show a total income of ₹24.01 crore against ₹51.52 crore in the previous year. Total expenses for the year reduced to ₹23.05 crore from ₹61.18 crore in FY25. The exceptional items for the year included a reversal of provision towards receivable from SSRPL amounting to ₹30.89 crore and the recognition of unamortized guarantee commission of ₹4.27 crore.

Metric	FY26 (₹ in lacs)	FY25 (₹ in lacs)
Revenue from Operations	2,401.30	5,151.70
Total Income	2,401.30	5,151.70
Total Expenses	2,305.50	6,117.87
Profit for the Period	31.42	(96.78)
Exceptional Items	313.19	(56.86)

Key Developments and Disclosures

The exceptional income arose following the one-time settlement (OTS) agreement between SSRPL, its lenders, and the Ministry of Road Transport and Highways (MORTH). The lenders issued a no-dues certificate releasing AJR Infra & Tolling Limited from all corporate guarantee liabilities. Consequently, the company reversed the liability and the provision made against the receivable from the SPV.

The auditors also drew attention to ongoing litigations involving subsidiaries such as Patna Highway Projects Limited (PHPL) and Pravara Renewable Energy Limited. In PHPL, the company has impaired its entire funded exposure of ₹21.29 crore and non-funded exposure of ₹1,190.24 crore, pending the outcome of appeals in the Supreme Court and NCLAT. The company continues to face liquidity challenges, with the management asserting that the going concern assumption remains appropriate despite the material uncertainties highlighted by the auditors.