Gayatri Highways Ltd appointed M/s. PPKG & Co., Chartered Accountants, as its statutory auditor to fill a casual vacancy. The board approved the appointment on August 29, 2026, following the resignation of the previous auditors, PRSV & Co. LLP.

The company also scheduled its 20th Annual General Meeting (AGM) for September 29, 2026. The meeting will be held via Video Conferencing or Other Audio Visual Means.

Auditor Appointment Details

The board recommended shareholders approve the appointment of PPKG & Co. for the term from the conclusion of the ensuing 20th AGM until the conclusion of the 25th AGM. The firm, established in 2002 and based in Hyderabad, comprises five partners.

PPKG & Co. holds Firm Registration No. 009655S. Its services include audit, assurance, taxation, banking audit, internal audit, project finance, corporate law, regulatory compliances, and consultancy. The firm has experience serving public and private companies, Public Sector Undertakings, banks, and entities across various sectors.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also aligns with SEBI Master Circular no. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.

AGM Schedule

The 20th AGM is set for September 29, 2026, at 3:30 pm. The event will be conducted through VC/OAVM as permitted by regulations. The board meeting that approved these items commenced at 12:45 pm and concluded at 2:55 pm on August 29, 2026.

Gayatri Highways has completed the acquisition of a 23% equity stake in HKR Roadways Limited from Kotak Special Situations Fund. The transaction was finalized on August 27, 2026, involving the purchase of 10,67,729 fully paid-up equity shares with a face value of ₹10 each.

The acquisition marks the successful conclusion of the process initiated in February 2026. Gayatri Highways had previously disclosed the proposal to acquire the stake, initially targeting completion by June 30, 2026. An update in June extended the indicative timeline to September 30, 2026. The final closure on August 27 falls within this revised window.

Transaction Details

The deal was executed for cash consideration. The specific cost of acquisition and the price per share were determined at the time of consummating the Securities Purchase Agreement, as per standard regulatory disclosures. The transaction does not constitute a related-party transaction, and the promoters or group companies of Gayatri Highways hold no prior interest in the target entity.

Gayatri Highways confirmed that it obtained the necessary approval from the Roads & Buildings Department, Government of Telangana, for this investment. The company submitted the required details under Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the relevant SEBI circular dated January 30, 2026.

Target Company Profile

HKR Roadways Limited operates in the infrastructure sector, specifically managing the four-laning of the Hyderabad-Karimnagar-Ramagundam Road (SH-1) in Andhra Pradesh. The project is structured under a Public-Private Partnership (PPP) model on a Build, Operate, and Transfer (BOT) basis. The entity collects tolls, charges, and fees from users as per its concession agreement with the Andhra Pradesh government.

Incorporated on August 9, 2010, HKR Roadways has shown consistent revenue growth over the past three fiscal years. The financial trajectory highlights the scale of the asset being acquired.

Strategic Rationale

Gayatri Highways stated that the investment aligns with its core business in the infrastructure industry. The company noted that the acquisition would be beneficial for its future growth prospects. By securing a significant minority stake, Gayatri Highways expands its footprint in the toll road segment without taking on the operational execution risks associated with greenfield BOT projects.

What the Numbers Show

The revenue figures for HKR Roadways indicate a steady upward trend in toll collections. Revenue rose from ₹22,539.75 lakh in FY22-23 to ₹26,402.61 lakh in FY24-25. This consistent growth suggests stable traffic volumes on the Hyderabad-Karimnagar-Ramagundam corridor, providing a predictable cash flow stream for the new shareholder. The absence of promoter interest in the target company prior to this deal implies a clean entry for Gayatri Highways into this specific asset.