Supreme Infrastructure India Limited reported a standalone net profit of ₹5,79,659.70 lakhs for FY26, a sharp reversal from a loss of ₹1,42,625.83 lakhs in FY25, driven entirely by a ₹6,46,563.62 lakhs exceptional gain from debt restructuring.

Financial performance overview

Revenue from operations for FY26 stood at ₹6,533.86 lakhs, marginally lower than ₹6,616.56 lakhs in FY25. Other income declined to ₹193.20 lakhs from ₹1,721.76 lakhs in the prior year. The company recorded a loss before exceptional items and tax of ₹66,903.92 lakhs, compared with a loss of ₹1,42,497.77 lakhs in FY25, reflecting continued operational stress.

The exceptional gain arose from the reversal of interest and principal under the Scheme of Compromise and Arrangement sanctioned by the National Company Law Tribunal, Mumbai Bench, on March 28, 2025. Of the total exceptional income of ₹6,46,563.62 lakhs, ₹3,67,801.46 lakhs represented gains from settlements with lenders who had issued final No Dues Certificates, while ₹2,78,805.87 lakhs reflected interest reversed in respect of three lenders from whom final No Dues Certificates remained pending as at March 31, 2026.

The Board and statutory auditors, M/s. Borkar & Muzumdar, have noted that the reported profit is non-recurring and should not be construed as representative of underlying operating profitability. The auditors issued a qualified opinion on both standalone and consolidated financial statements.

Standalone financial highlights (₹ in lakhs)

Total equity turned positive at ₹23,723.24 lakhs as at March 31, 2026, compared with a negative equity of ₹6,22,832.62 lakhs a year earlier. Accumulated losses stood at ₹99,402.93 lakhs. Total liabilities were ₹2,43,697.17 lakhs.

Audit qualifications and adjusted position

The statutory auditors flagged four key qualifications: reversal of interest of ₹2,78,805.87 lakhs for three lenders without final No Dues Certificates; non-recognition of interest of ₹21,436.79 lakhs for the year on the reversed amount; long-outstanding trade receivables of ₹75,644.24 lakhs and unbilled revenue of ₹650.24 lakhs where no Expected Credit Loss adjustment was made; and investments in Supreme Infrastructure BOT Private Limited (admitted to CIRP on May 22, 2024) amounting to ₹1,42,556.84 lakhs and in Supreme Panvel Indapur Tollways Private Limited (admitted to CIRP on August 30, 2024) aggregating ₹22,693.87 lakhs, where recoverability was not supported by sufficient evidence.

The quantified impact of the interest-reversal qualification is summarised below.

The auditors also drew attention to material uncertainty related to going concern, noting accumulated losses of ₹99,402.93 lakhs and pending settlement with three major lenders. Corporate guarantees of ₹1,51,347.85 lakhs provided to lenders of subsidiary and group companies were highlighted as an emphasis of matter; no financial liability has been recognised against these guarantees.

Scheme of Compromise and Arrangement

Payments under the sanctioned Scheme were completed for 11 out of 14 financial creditors, with final No Dues Certificates and charge-release formalities obtained. Partial payments were made to the remaining three lenders — State Bank of India (principal default of ₹17,623.98 lakhs), Punjab National Bank (₹38,617.09 lakhs), and Union Bank of India (₹65,915.02 lakhs) — for which extension of time has been sought before the Tribunal. The NCLT, by its order dated May 11, 2026, acknowledged that the company had paid more than ₹627 crore towards settlement of lender dues. A Fixed Deposit of ₹120 crore was created with State Bank of India, earmarked for the balance settlement dues.

Capital structure and preferential allotment

During FY26, the company issued 7,10,37,388 equity shares of ₹10 each at an issue price of ₹86.94 per share (including a premium of ₹76.94 per share) through preferential allotment pursuant to shareholder approval dated October 21, 2024. The company also allotted 2,21,12,953 convertible warrants at ₹86.94 per warrant. During the quarter ended March 31, 2026, 7,67,000 warrants were converted into equity shares. Total paid-up equity share capital increased to ₹9,750.28 lakhs (9,75,02,760 shares) from ₹2,569.84 lakhs (2,56,98,372 shares) at the start of FY26.

As at March 31, 2026, 2,13,45,953 warrants remained outstanding, convertible at ₹86.94 per warrant. Full conversion would result in a fully diluted share capital of 11,88,48,713 equity shares.

Order book and operations

The company's total order book stood at approximately ₹3,329 crore, comprising residential building projects of ₹2,192.78 crore and commercial building projects of ₹1,125 crore. The company operates across 13+ states in India with a diversified portfolio spanning roads, bridges, buildings, railways, water, and power infrastructure. Aggregate value of performance obligations partially or fully unsatisfied as at March 31, 2026 was ₹1,29,266.00 lakhs.

Key financial ratios

Debt equity and return on equity ratios are not applicable as net equity was negative on an adjusted basis.

Corporate governance and board changes

The Board comprised seven directors as at March 31, 2026, including one Managing Director, two Non-Executive Non-Independent Directors, and four Independent Directors (including one woman director). Mr. Sushil Kumar Mishra and Mr. Dakshendra Brijballabh Agrawal ceased as Independent Directors on June 3, 2026, upon completion of their respective tenures. Mr. Chander Parkash Sharma was appointed as Independent Director with effect from November 29, 2025. Dr. Prabhakant was appointed as Additional Director (Non-Executive Independent) with effect from September 15, 2026, subject to shareholder approval at the 43rd AGM scheduled for November 12, 2026. The Audit Committee met five times during FY26; no dividend was declared for FY26. No CSR expenditure was incurred as the company did not meet the prescribed applicability threshold under Section 135 of the Companies Act, 2013.

Supreme Infrastructure has obtained regulatory clearance to postpone its Annual General Meeting for the financial year ended March 31, 2026. The Registrar of Companies (ROC), Mumbai, granted a one-month and 15-day extension, setting the new deadline for November 15, 2026.

Regulatory Approval Details

The ROC Mumbai issued the order on September 16, 2026, under Section 96(1) of the Companies Act, 2013. The company had applied for the extension on September 7, 2026, citing circumstances that prevented it from holding the meeting by the statutory due date of September 30, 2026.

The approval letter, signed by Chandan Kumar, Assistant Registrar of Companies, advised the firm to ensure careful compliance with the Companies Act in the future. The company disclosed this development in a filing dated September 18, 2026, addressed to the BSE and NSE listing departments.

Next Steps

Supreme Infrastructure stated it will convene the AGM within the extended timeframe. The specific date for the meeting will be communicated to shareholders in due course. Additionally, the company will submit its Annual Report in accordance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SandeeP Sauba Lengare, Company Secretary and Compliance Officer of Supreme Infrastructure, signed the intimation letter confirming the receipt of the ROC order.