GTV Engineering Limited has completed the acquisition of a 35.31% stake in Chirchind Hydro Power Private Limited (CHPPL) through the allotment of 39,42,046 equity shares on a preferential basis. The Board of Directors approved the allotment on June 4, 2026, issuing shares at a price of ₹59.65 each, including a premium of ₹57.65 per share. This transaction, executed via a share swap mechanism for consideration other than cash, aggregates to approximately ₹23.52 crore and results in CHPPL becoming a subsidiary of GTV Engineering.

The allotment was made to GTV Infrastructures Private Limited, a promoter group entity, pursuant to approvals received from shareholders at an Extraordinary General Meeting held on April 16, 2026. Following the issuance, the paid-up equity capital of GTV Engineering increased from ₹9,37,16,640 to ₹10,16,00,732. Consequently, Shivalik Energy Private Limited, a subsidiary of CHPPL, has become a step-down subsidiary of the company.

The preferential issue was conducted in accordance with the Companies Act, 2013, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company had previously received in-principle approval from BSE Limited via a letter dated May 27, 2026. The exchange had stipulated conditions regarding internal controls and trade monitoring by the allottees to ensure compliance with regulations.

GTV Engineering stated that it will apply for the listing and trading of the newly allotted shares on the stock exchanges in due course. The acquisition marks the company's entry into the renewable energy sector, integrating small hydro power into its business operations.

GTV Engineering Limited has announced its audited financial results for the quarter and financial year ending March 31, 2026. The company reported a strong year-on-year growth in profitability, supported by continued execution across its fabrication and machining businesses. Following a submission to the Bombay Stock Exchange on May 22, 2026, the company clarified that the financial results for the period are audited, correcting a prior typographical error that had labeled them as unaudited. There is no change in the financial figures or disclosures previously submitted.

Financial Performance

For the fiscal year 2026, GTV Engineering posted a net profit of ₹1,421.76 lakh, compared to ₹1,104.63 lakh in the previous year. Total income for the period increased to ₹10,332.99 lakh from ₹10,294.79 lakh in the prior year. Revenue from operations stood at ₹10,151.84 lakh, slightly lower than the ₹10,277.18 lakh recorded in the previous fiscal year.

The company’s earnings per share (EPS) for the year was reported at ₹3.03, up from ₹2.36 in the previous year. For the quarter ended March 31, 2026, the net profit was ₹311.00 lakh, with revenue from operations at ₹3,196.45 lakh.

Operational Expenses

Total expenses for the year amounted to ₹8,411.88 lakh, a decrease from the ₹8,773.37 lakh reported in the previous year. The cost of materials consumed was ₹7,511.89 lakh, while employee benefits expenses stood at ₹304.26 lakh. Finance costs for the year were recorded at ₹8.47 lakh.

Balance Sheet Highlights

As of March 31, 2026, the company's total assets stood at ₹9,332.29 lakh, up from ₹7,134.37 lakh in the previous year. Equity share capital increased significantly to ₹937.17 lakh from ₹312.39 lakh. Reserves and surplus grew to ₹5,164.36 lakh from ₹4,414.20 lakh. Current assets were reported at ₹6,641.73 lakh, while current liabilities stood at ₹3,102.36 lakh.

Business Outlook

GTV Engineering remains focused on disciplined execution and capacity utilization. The management stated that while quarterly numbers may vary due to project execution schedules, the company aims to pursue a growth trajectory of around 35% to 40% CAGR over the next 3 to 4 years, subject to order finalization and market conditions. The company continues to see encouraging opportunities from the cement, thermal, and hydro power sectors.