Globe Civil Projects Limited Chairman Ved Prakash Khurana addressed shareholders at the company's 24th Annual General Meeting, emphasizing a focus on sustainable and profitable growth in the EPC sector. The meeting was held on September 25, 2026, via video conferencing.

Khurana highlighted that India's sustained focus on infrastructure development in roads, railways, healthcare, and urban infrastructure presents significant opportunities for the Engineering, Procurement, and Construction (EPC) sector. He noted that the company's diverse project portfolio across education, housing, and institutional buildings provides a broader platform for future growth.

Meeting Proceedings and Attendance

The 24th AGM commenced at 12:00 pm and concluded at 12:46 pm IST. A quorum of 56 members representing 3,57,80,887 equity shares joined the meeting via Video Conferencing or Other Audio Visual Means. The following directors and key managerial personnel were present:

Representatives from M/s Jagdish Chand & Co., Statutory Auditors, and M/s Vasisht & Associates, Secretarial Auditors, were also present to oversee the proceedings.

Execution and Operational Discipline

The Chairman stated that successful execution is the foundation of sustainable growth for an EPC company. The company's objective is not merely to secure new projects but to execute them efficiently through effective planning, cost management, and resource utilization.

Key priorities for the coming years include:

• Strengthening execution capabilities and project management systems
• Expanding the order pipeline while maintaining a balanced portfolio
• Improving operational efficiency through technology adoption
• Maintaining strong corporate governance and financial discipline

Khurana emphasized that the EPC industry is becoming increasingly competitive, requiring strong technical capabilities and quality systems. He noted that better project monitoring and data-based decision-making are essential for efficiency and transparency.

Resolutions and Shareholder Interaction

Shareholders adopted the audited standalone and consolidated financial statements for FY26. Mr. Nipun Khurana was reappointed as he retired by rotation. The remuneration of Cost Auditors for FY27 was also ratified.

During the Q&A session, shareholders congratulated the Board on performance achievements. Questions were addressed by Managing Director Vipul Khurana. Mr. Shobhit Vasisht of M/s Vasisht & Associates served as the Scrutinizer for the e-voting process.

Risk Management and Sector Outlook

The speech acknowledged industry challenges such as competition, input-cost fluctuations, working-capital requirements, and execution risks. Infrastructure projects often involve long cycles and coordination with multiple stakeholders, where changes in requirements or regulatory matters can affect timelines.

To mitigate these risks, Globe Civil will remain selective in evaluating new projects, considering factors like complexity, financial commitments, and long-term value before accepting assignments. Financial discipline and prudent risk management remain central to the growth strategy.

Governance and Audit Status

The statutory auditors and secretarial auditors expressed an unqualified opinion on the financial statements for FY26. There were no qualifications, observations, or adverse comments on matters with material bearing on the company's functioning.

Khurana concluded by thanking shareholders, clients, and employees for their continued trust and support, reaffirming the company's commitment to being a dependable EPC partner in India's infrastructure journey.

Globe Civil Projects Limited reported a 14% year-on-year increase in net profit to ₹70.91 million for the quarter ended June 30, 2026, driven by lower finance costs despite a decline in operating revenue.

The engineering, procurement and construction firm posted revenue from operations of ₹923.04 million, down from ₹1,431.80 million in the preceding quarter but up 37% compared to ₹673.50 million in Q4FY25. The company also clarified an inadvertent omission in its initial limited review report submission to the BSE, uploading the complete document on September 12, 2026.

Financial Performance

The group’s total income stood at ₹929.23 million for the quarter. Operating expenses decreased significantly to ₹829.12 million from ₹1,364.95 million in Q3FY26, primarily due to lower cost of construction and material consumption.

Finance costs dropped to ₹40.30 million from ₹66.34 million in the previous quarter. Tax expense increased to ₹28.52 million, including a ₹1.88 million adjustment related to prior years.

What the Numbers Show

While top-line revenue contracted sharply quarter-on-quarter, profitability improved due to better cost containment. Cost of construction, the largest expense head, fell to ₹383.59 million from ₹824.21 million in Q3FY26. This reduction outpaced the revenue decline, allowing profit before tax to rise 26% sequentially to ₹100.11 million. The improvement suggests higher operational efficiency or project completion cycles rather than new volume growth during the period.

Segment and Joint Venture Details

The company operates solely through its Engineering, Procurement & Construction (EPC) segment. The consolidated results include proportionate shares from six joint ventures and one associate company. The joint ventures contributed ₹4.63 million in revenue and incurred a negligible loss of ₹0.01 million. The associate company recorded a loss of ₹0.68 million, which was deducted from the group’s profit before tax. Management stated these entities are not material to the group’s overall financial position.

IPO Proceeds Utilization

As of June 30, 2026, Globe Civil Projects had utilized ₹1,143.20 million of its ₹1,190.00 million IPO proceeds. The remaining unutilized balance of ₹46.80 million is held in fixed deposits with banks. Working capital requirements were fully utilized, while ₹29.65 million remained unused for capital expenditure.