GVK Power & Infrastructure board of directors met on August 28, 2026 to approve the company’s 32nd Annual General Meeting (AGM) and key management re-appointments.

The infrastructure firm, currently under Corporate Insolvency Resolution Process (CIRP), scheduled its AGM for Wednesday, September 30, 2026. The meeting will consider and adopt the audited financial statements for the fiscal year ended March 31, 2026.

Corporate Actions and Governance

The register of members and share transfer registers will remain closed from September 28, 2026 to September 30, 2026 (both days inclusive) to determine eligibility for the AGM, in accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Management Re-appointments

The board approved the re-appointment of Mr. P. V. Prasanna Reddy as Whole-time Director for a further period of three years. His tenure will commence on November 14, 2026, subject to shareholder approval. Mr. Reddy, who has over 40 years of experience in business management, is not related to any other directors or key managerial personnel of the company.

Auditor Continuity

The company also approved the re-appointment of T R Chadha & Co LLP as its statutory auditors. The firm will hold office for five years, commencing from the conclusion of the 32nd AGM until the conclusion of the 37th AGM, subject to shareholder approval. T R Chadha & Co LLP confirmed its eligibility under Sections 139 and 141 of the Companies Act, 2013.

GVK Power & Infrastructure posted a standalone net profit of ₹9 lakh for the quarter ended June 30, 2026 (Q1FY27), improving from a net loss of ₹47 lakh in the preceding quarter. The company’s consolidated segment results, however, reflected a net loss of ₹55 lakh for the same period, compared to a loss of ₹301 lakh in Q4FY26.

Statutory auditors T R Chadha & Co LLP issued a disclaimer of conclusion on both the standalone and consolidated financial statements. The audit firm cited significant doubt regarding the group’s ability to continue as a going concern, driven by accumulated losses, liabilities exceeding assets, and ongoing proceedings under the Insolvency and Bankruptcy Code (IBC).

Financial Performance

The standalone entity recorded total income of ₹77 lakh, primarily derived from other income, as revenue from operations remained at nil. Total expenses stood at ₹68 lakh, comprising employee benefits of ₹3 lakh and other expenses of ₹64 lakh. This resulted in a profit before tax of ₹9 lakh.

In the consolidated structure, total income was ₹169 lakh, while total expenses amounted to ₹224 lakh. The power segment contributed a marginal loss of ₹2 lakh, while the 'Others' segment—which includes investment, manpower, and SEZ companies—reported a loss of ₹224 lakh.

Auditor Disclaimer and CIRP Status

The auditors highlighted multiple bases for their disclaimer, focusing on the company’s admission into the Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal (NCLT) admitted GVK Power into CIRP via an order dated July 12, 2024. A Resolution Professional (RP) has been appointed, and the Committee of Creditors (CoC) has rejected two prior resolution plans as non-compliant.

Key uncertainties cited by the auditors include:

• Guarantees for GVK Coal: The group provided corporate guarantees for loans taken by its associate, GVK Coal Developers (Singapore) Pte Ltd, aggregating to USD 1,132.45 million. An English court crystallized claims against guarantors at USD 2.19 billion. The RP has admitted financial creditor claims up to ₹15,94,489 lakh for CIRP purposes.
• Deconsolidation of GVK Energy: Control over wholly-owned subsidiary GVK Energy Limited (GVKEL) was lost when it entered CIRP in May 2025. This led to a deconsolidation loss of ₹1,04,158 lakh recognized in the previous year.
• Litigation Risks: Ongoing investigations by the CBI and Enforcement Directorate (ED) regarding alleged fund misuse and money laundering remain pending, with potential implications that cannot be quantified.

What the Numbers Show

The divergence between standalone profitability and consolidated losses highlights the structural challenges within the group. While the parent company generated a small operational surplus through other income and minimal expenses, the consolidated 'Others' segment dragged down overall performance with a ₹224 lakh loss. This pattern underscores that the standalone profit is not reflective of the broader group’s operational health, which remains heavily burdened by legacy liabilities and insolvency-related costs.