Globe Civil Projects Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company reported a revenue from operations of ₹4,057.15 million for the financial year, while total income stood at ₹4,090.39 million. Profit after tax (PAT) for the year was ₹232.99 million, with an earnings per share (EPS) of ₹4.18. The board approved these results in its meeting held on May 30, 2026.

The company's operational performance was supported by disciplined execution across ongoing EPC projects and effective cost management. The order book stood at approximately ₹730 crore as of March 31, 2026, providing strong revenue visibility for the coming periods. Globe Civil Projects operates primarily in the Engineering, Procurement & Construction (EPC) segment, with a presence across 11+ states.

Financial Performance Summary

Operational Highlights

The cost of construction for FY26 amounted to ₹2,190.90 million, an increase from ₹2,107.82 million in the previous year. The company successfully completed more than 37 projects during the year, while maintaining execution momentum across 13-15 ongoing projects. Government and public sector projects accounted for approximately 55% of the pending order book.

Notable project wins during FY26 included the Central University of Punjab project worth approximately ₹173 crore, the International Cricket Stadium project worth approximately ₹222 crore, and the IIT Kanpur project worth approximately ₹71 crore. The total equity share capital increased to ₹597.19 million as of March 31, 2026, from ₹429.58 million in the prior year, following the company's initial public offering (IPO) in July 2025.

Globe Civil Projects Limited has filed its Monitoring Agency Report for the quarter ended March 31, 2026, with the National Stock Exchange of India and BSE Limited, pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was prepared by CARE Ratings Limited, the monitoring agency appointed to oversee the utilisation of proceeds raised through the company's Initial Public Offer of equity shares. The filing was made on May 06, 2026, and the monitoring agency report itself is dated May 05, 2026.

IPO Overview and Issue Details

The IPO of Globe Civil Projects Limited was conducted during June 24, 2025 to June 26, 2025, raising an aggregate amount of Rs. 119.00 crore through a public issue of equity shares. The company operates in the EPC (Engineering, Procurement & Construction) sector. The promoters of the company are Mr. Ved Prakash Khurana, Mr. Nipun Khurana, and Mr. Vipul Khurana.

The IPO proceeds were earmarked across four objects as disclosed in the offer document:

Q4FY26 Fund Utilisation Progress

As of March 31, 2026, Globe Civil Projects had cumulatively utilised Rs. 108.83 crore of the total IPO proceeds, with Rs. 10.17 crore remaining unutilised. During Q4FY26 alone, the company deployed Rs. 5.20 crore across various objects. The following table summarises the utilisation progress across all objects:

During Q4FY26, Rs. 4.49 crore was utilised towards the purchase of scaffolding and shuttering material under capital expenditure, entirely from the current account. Rs. 0.04 crore was deployed primarily towards procurement of construction materials under working capital requirements. Rs. 0.61 crore was utilised towards TDS deposits under General Corporate Purpose, also from the current account. Rs. 0.06 crore was spent towards consultancy fees under issue-related expenses, from the monitoring account.

Deployment of Unutilised Proceeds

The remaining unutilised balance of Rs. 10.17 crore has been deployed in fixed deposits as detailed below:

Key Observations and Monitorables

CARE Ratings confirmed there is no deviation from the objects stated in the offer document, and no major deviation was observed over the previous monitoring agency report. However, the monitoring agency flagged several key observations:

• Capital Expenditure Delay: The funding towards capital expenditure of Rs. 14.26 crore was originally scheduled for completion by March 2026. The timeline has been extended to September 2026 due to timing differences in vendor finalisation, procurement schedules, and delivery lead times. As of March 31, 2026, approximately 48% of the capital expenditure amount has been utilised. CARE Ratings noted that given volatile prices during Q4FY26, the delay may result in cost overruns, which could impact the viability of the object.
• Commingling of Funds: During Q2FY26, the company transferred the unutilised portion of IPO proceeds into its current accounts and created fixed deposits with varied maturity dates. In Q4FY26, certain objects were met through utilisation from the current account. Owing to various transactions pertaining to capital expenditure and General Corporate Purpose from current accounts, there has been commingling of funds, which restricted the monitoring agency's ability to directly ascertain them. CARE Ratings relied on management and Chartered Accountant certifications.
• Income Tax Demand Notice: The company received an income tax demand notice of Rs. 80.19 lakh for assessment year 2018-19 under reassessment, disclosed on March 30, 2026. The company has indicated plans to appeal the notice and stated it has no material impact on its operations or financials.
• Implementation Delays: Delays in the completion of all four objects — working capital requirements (99% utilised), capital expenditure (48% utilised), General Corporate Purpose (85% utilised), and issue-related expenses (99% utilised) — have been noted, with the number of days or months of delay not ascertainable. Management approval for rescheduling of timelines pertaining to all objects has been obtained by the company.

The Chartered Accountant certificate referenced in the report was issued by M/s Jagdish Chand & Co. (Statutory Auditor) and is dated April 29, 2026. The monitoring agency report was signed by Sachin Mathur, Associate Director at CARE Ratings Limited.