GTT Data Solutions Limited was fined ₹1,55,000 plus GST by BSE Limited for failing to maintain the required proportion of Independent Directors on its Board. The penalty, imposed on May 27, 2026, addresses a non-compliance with Regulation 17(1) of the SEBI (LODR) Regulations, 2015, which mandates that at least 50% of the Board must comprise Independent Directors. The company stated the financial impact is limited to the fine amount and does not affect its operations or financial position.

The violation arose consequentially after the appointment of an additional Non-Executive Director increased the total Board strength, thereby reducing the percentage of Independent Directors below the statutory threshold. The disclosure clarified that the lapse was not due to the resignation or removal of any existing Independent Director but was a result of the change in Board composition triggered by the new appointment.

To address the non-compliance, the company's Nomination and Remuneration Committee and the Board initiated a process to identify suitable candidates. Following due diligence, the Board approved the appointment of Mr. Sai Manik Sud as an Independent Director with effect from May 26, 2026. This appointment restores full compliance with Regulation 17 of the Listing Regulations. A separate disclosure regarding the appointment has been submitted to the exchange.

GTT Data Solutions Limited has re-submitted its corrected Consolidated Audited Financial Results for the quarter and financial year ended March 31, 2026, after identifying inadvertent typographical clerical errors in its previous submission to the exchange. The company clarified that the corrections are limited to clerical issues within the Consolidated Financial Results and do not impact the Standalone Audited Financial Results or the Independent Auditor's Report. Consequently, all key financial figures for the period remain unchanged, with Revenue from Operations at ₹13,332.26 Lakhs and a Net Loss of ₹1,647.18 Lakhs for the financial year.

The Board of Directors approved the audited financial results during its meeting held on May 26, 2026. Mehta and Mehta, Chartered Accountants, the Statutory Auditors, conducted an audit of the financial results pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The auditors provided an unmodified opinion on both the Standalone and Consolidated Financial Results, confirming compliance with Indian Accounting Standards and the recognition and measurement principles generally accepted in India.

Consolidated Financial Performance

The company reported a Total Income of ₹13,520.48 Lakhs for the year ended March 31, 2026, against a Total Expense of ₹15,076.92 Lakhs, resulting in a Loss Before Tax of ₹1,556.44 Lakhs. After accounting for a tax expense of ₹90.74 Lakhs, the Net Loss for the period stood at ₹1,647.18 Lakhs. The Earnings Per Share (EPS) for the year was reported at -₹3.94 on a basic basis and -₹2.94 on a diluted basis.

Operational Highlights and Disclosures

The financial statements include notes regarding proposed acquisitions and asset impairments. The company has entered into an arrangement to acquire 100% equity shareholding of M/s Antworks Solutions India Private Limited through a share swap arrangement. As requisite approvals and closing conditions were pending as of the reporting date, this acquisition has not been accounted for in the financial statements, though the proposed share allotment was considered for calculating diluted EPS. Additionally, the company recognized an impairment charge of ₹1,623.72 Lakhs on its investment in Global Talent Track Private Limited during the year.

The corrected results have been uploaded on the company's website and concurrently submitted to the exchange. The company stated that it has implemented additional internal review controls to prevent the recurrence of such clerical errors.