GTL Infrastructure will hold its 23rd Annual General Meeting on September 30, 2026, to approve the appointment of Jayant Laxmikant Bhimanwar as Whole-time Director. The meeting also seeks shareholder approval for the adoption of audited financial statements for FY26.

The company reported a profit after tax of ₹77,926 lakh for the year ended March 31, 2026, a significant shift from the loss of ₹87,515 lakh recorded in FY25. Total income for FY26 stood at ₹141,907 lakh, compared to ₹136,569 lakh in the prior year.

Board Appointments

Shareholders will vote on three key director-related resolutions:

• Re-appointment of Charudatta K. Naik, who retires by rotation.
• Appointment of Jayant Laxmikant Bhimanwar as a Director liable to retire by rotation.
• Special resolution to appoint Mr. Bhimanwar as Whole-time Director for three years, effective August 6, 2026.

Mr. Bhimanwar, aged 58, brings over 30 years of experience in telecommunications and IT sectors. His proposed annual salary is ₹80,00,000, with potential performance-based incentives. The appointment replaces Vikas Arora, who resigned from the WTD position.

Additionally, Abhijit Padmanabh Deshpande will be appointed as a Non-Executive, Non-Independent Director. Mr. Deshpande, a Mechanical Engineer with 41 years of experience across telecom infrastructure, power transmission, and oil & gas, was recommended by the Nomination and Remuneration Committee.

Financial Performance

The turnaround in profitability follows years of losses driven by industry consolidation and tenant attrition. The company notes that over 14,000 tower sites became unoccupied due to operator shutdowns, leading to significant tenancy losses.

What the Numbers Show

The transition from an ₹87,515 lakh loss in FY25 to a ₹77,926 lakh profit in FY26 represents a complete reversal in the company’s bottom line. While total income grew modestly by approximately 3.9% year-on-year, the profit swing suggests substantial improvements in cost management or exceptional items, as the pre-tax and post-tax figures are identical, indicating no tax impact on the current year’s result.

Debt Resolution and Outlook

The explanatory statement highlights ongoing efforts to resolve debt, including settlements with two secured lenders and negotiated settlement sanctions from the lead lender. The company continues to pursue contractual claims of approximately ₹15,01,135 lakh from customers who exited prematurely during lock-in periods.

AGM Logistics

The AGM will be conducted via Video Conferencing/Other Audio Visual Means. Remote e-voting opens on September 26, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. In compliance with SEBI Listing Regulations, shareholders without registered email addresses have been sent letters with web-links to access the Annual Report and Notice.

GTL Infrastructure Limited reported a standalone net profit of ₹6,939 lakh for the quarter ended June 30, 2026, marking a significant turnaround from the net loss of ₹23,242 lakh recorded in the same period last year. This return to profitability is primarily attributed to a substantial reduction in finance costs and favorable exchange differences, signaling improved financial stability as the company continues its debt settlement process. The results were published in 'The Free Press Journal' and 'Navshakti' on August 07, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors approved the unaudited financial results under Ind AS during a meeting held on August 06, 2026. The results were reviewed by the Audit Committee and subsequently limited-reviewed by the statutory auditors, CVK & Associates Chartered Accountants. The filing was submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

Total income from operations stood at ₹33,237 lakh for Q1FY27, a marginal decline from ₹33,963 lakh in Q1FY26. However, total expenses dropped significantly, leading to the positive bottom line. The company reported a total profit for the period of ₹6,925 lakh, compared to a loss of ₹23,256 lakh in the previous year's quarter. Earnings per share (EPS) turned positive at ₹0.05, up from a negative ₹0.18 in Q1FY26.

Key Drivers of Profitability

The most significant factor behind the return to profitability was the sharp decline in finance costs, which fell to ₹228.1 lakh from ₹2,532.9 lakh in Q1FY26. This reduction aligns with the company's ongoing One Time Settlement (OTS) discussions with lenders. Additionally, the company recorded a net gain from balances written off of ₹397.1 lakh, compared to a provision of ₹88.0 lakh in the prior year quarter. Exchange differences also contributed positively, showing a net gain of ₹19.6 lakh versus a loss of ₹83.0 lakh previously.

Infrastructure operation and maintenance costs remained relatively stable at ₹1,912.9 lakh, while employee benefits expense decreased to ₹157.6 lakh from ₹175.4 lakh. Depreciation and amortization expenses were ₹556.5 lakh, down from ₹640.8 lakh in Q1FY26.

What the Numbers Show

The dramatic shift from a net loss to a net profit highlights the effectiveness of GTL Infrastructure's debt restructuring efforts. The near-elimination of interest accruals, as permitted by the bilateral settlement framework with lenders, has materially improved the bottom line. Management has discontinued further interest accruals on outstanding borrowings, citing adequate provisions already made in the books. This strategic move allows the company to focus on operational cash flows rather than servicing high-interest liabilities, thereby supporting its going concern status.

Auditor's Report and Going Concern

CVK & Associates issued a limited review report with an emphasis on the material uncertainty related to going concern. While the company continues to prepare its books on a going concern basis, the auditors noted that this assumption depends critically on the company's ability to generate sufficient future cash flows to meet obligations. No modifications were made to the conclusion regarding the non-accrual of interest or the going concern basis.

Capital Structure Updates

During the quarter, there were no conversions of Fully Convertible Bonds (FCBs). As of June 30, 2026, the outstanding FCBs remained at 27,597.5 for B1, 37,471 for B2, and 10,281 for B3. Post-quarter, between July 01, 2026, and August 06, 2026, 46 B2 bonds were converted into 299,637 equity shares. The paid-up equity share capital remains at ₹1,28,091.1 lakh.