GTV Engineering Limited has secured in-principle approval from BSE Limited to issue 39,42,046 equity shares to its promoters on a preferential basis through a share swap mechanism. The issuance, priced at not less than ₹59.65 per share of face value ₹2 each, is intended to facilitate the acquisition of equity shares in Chirchind Hydro Power Private Limited (CHPPL). This strategic move will allow GTV Engineering to consolidate CHPPL as a subsidiary and integrate small hydro power into its long-term business platform.

The approval, conveyed via a letter dated May 27, 2026, was disclosed to the exchange under Regulation 30 of the SEBI (LODR) Regulations, 2015. The preferential issue is being executed for consideration other than cash, as previously approved by the Board of Directors and the shareholders of the company. The transaction underscores the company's objective to diversify its operations into the renewable energy sector.

BSE has stipulated strict compliance conditions for the allotment. The exchange advised the company to strengthen internal controls to monitor trades executed by the proposed allottees to prevent non-compliances with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Specifically, the company must obtain an undertaking from allottees confirming they will not engage in intra-day trading or sell shares in the company until the allotment date.

The responsibility for verifying this compliance rests solely with GTV Engineering. Any failure to monitor trades or ensure adherence to regulations could impact the listing of the issued shares. Upon allotment, the company is required to submit a listing application without delay and adhere to post-issue formalities under Regulation 14 of the LODR Regulations.

Furthermore, the company must apply for listing within twenty days from the date of allotment, as per Schedule XIX of the ICDR Regulations and a SEBI circular dated June 21, 2023. Failure to meet this timeline may result in penalties. BSE reserves the right to withdraw the in-principle approval if any information provided is found to be incomplete or misleading.

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.