GTL Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The filing was made with both BSE and NSE on April 07, 2026, fulfilling the company's regulatory obligations.

Regulatory Compliance Details

The certificate was issued by Bigshare Services Private Limited, which serves as GTL Limited's registrar and share transfer agent. The document confirms compliance with dematerialization procedures and securities handling requirements as mandated by SEBI regulations.

Certificate Confirmations

Bigshare Services confirmed several key compliance aspects in their certificate dated April 06, 2026:

• All securities received from depository participants for dematerialization up to March 31, 2026 were properly confirmed to the depositories
• Securities comprised in the certificates have been listed on the stock exchange where earlier issued securities are listed
• Security certificates received for dematerialization were mutilated and cancelled after due verification by the depository participant
• Names of depositories were substituted in the register of members as registered owners within the prescribed 15-day timeframe

Filing Process

The certificate was signed by key company officials including Pratik Toprani, Company Secretary and Compliance Officer, and Harshad Kulkarni, Chief Financial Officer. Both signatures were digitally authenticated on April 07, 2026.

Stakeholder Communication

The filing was submitted electronically through the respective web portals of BSE and NSE. Copies were also sent to National Securities Depository Limited and Central Depository Services (India) Limited, ensuring comprehensive stakeholder communication as required under the regulations.

This quarterly compliance certificate represents GTL Limited's adherence to SEBI's depositories and participants regulations, demonstrating the company's commitment to maintaining proper securities handling and dematerialization procedures.

GTL Limited announced its unaudited financial results for the quarter ended December 31, 2025, showing continued financial challenges despite year-over-year improvements in certain metrics. The company's Board of Directors approved the Q3 FY26 results in a meeting held on February 12, 2026.

Financial Performance Overview

The telecommunications services company reported a net loss of ₹262.92 lakhs for the quarter ended December 31, 2025, representing a significant improvement from the loss of ₹4,182.25 lakhs recorded in the corresponding quarter of the previous year. Revenue from operations increased to ₹5,499.84 lakhs in Q3 FY26 from ₹5,103.34 lakhs in Q3 FY25.

Expense Analysis and Key Challenges

Total expenses for Q3 FY26 amounted to ₹5,784.85 lakhs compared to ₹8,855.38 lakhs in the previous year's corresponding quarter. The most significant expense component was employee benefits at ₹2,206.92 lakhs, followed by exchange losses of ₹1,525.11 lakhs and finance costs of ₹917.98 lakhs.

Going Concern and Financial Restructuring

Despite the improved quarterly performance, GTL Limited faces significant financial challenges. The company's net worth has been eroded over recent years, and current liabilities exceed current assets. However, management continues to prepare financial statements on a going concern basis following strategic restructuring initiatives.

The company has entered into One Time Settlement (OTS) agreements with lenders in January 2024 and has fully deposited the OTS amount in an Escrow Account. GTL has successfully settled dues with ten secured original lenders and awaits OTS sanctions from the remaining four lenders.

Auditor's Modified Opinion

The statutory auditors issued a modified opinion highlighting that GTL has neither paid nor provided interest on borrowings during the quarter ended December 31, 2025. Had such interest been recognized, the finance cost would have increased by ₹9,367.79 lakhs, resulting in a significantly higher loss of ₹9,655.50 lakhs for the quarter.

Earnings Per Share and Capital Structure

The company reported basic and diluted earnings per share of ₹(0.17) for Q3 FY26, compared to ₹(2.66) in the corresponding quarter of the previous year. The paid-up equity share capital remained unchanged at ₹15,729.68 lakhs, consisting of equity shares with a face value of ₹10 each.