Twamev Construction & Infrastructure reported a standalone net profit of ₹74 lakh for the quarter ended June 30, 2026, down 45% from ₹134 lakh in the corresponding period of FY26. The decline reflects broader operational headwinds, including stalled project progress and significant legal disputes involving its subsidiaries. Consolidated net profit for the quarter dropped 53% year-on-year to ₹51 lakh from ₹110 lakh.

The Board of Directors approved the unaudited financial results on August 11, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also announced that its 61st Annual General Meeting will be held on September 22, 2026, via video conferencing. Additionally, Mr. Biswajit Chakraborty was appointed as Chief Executive Officer effective August 11, 2026, transitioning from his role as Senior Management Personnel.

Financial Performance

Revenue from operations stood at ₹1,104 lakh for the quarter, a 6% decrease from ₹1,174 lakh in Q1FY26. Total income was ₹1,127 lakh, compared to ₹1,265 lakh in the prior year period. Expenses totaled ₹1,053 lakh, driven primarily by contract operating expenses of ₹1,018 lakh and consumption of raw materials at ₹298 lakh. A credit adjustment of ₹514 lakh from changes in work-in-progress helped cushion the bottom line.

Earnings per share (basic) were ₹0.05 for the quarter, down from ₹0.09 in Q1FY26. The consolidated EPS declined to ₹0.03 from ₹0.07 in the previous year.

Legal and Operational Risks

The auditor’s report highlights significant qualifications regarding subsidiaries Tantia Infrastructure Private Limited (TIPL) and Tantia Raxaultollway Private Limited (TRPL). TIPL’s audit report notes an unrecorded interest income on a loan of ₹543.83 lakh given to a Non-Banking Finance Company. TRPL faces a pending arbitration claim of ₹98,618 lakh against the National Highway Authority of India (NHAI) after abandoning a project. NHAI has taken control of the project assets, and TRPL’s bank facilities have been classified as Non-Performing Assets (NPA) since April 1, 2018.

Furthermore, the company is awaiting the final upgrade of its account status from NPA to Standard to proceed with the full and final settlement of a resolution plan amounting to ₹21 crore. Although the NCLT Kolkata has directed banks to complete the upgrade, this status change is not yet reflected in the company’s CIBIL report. Associate company Tantia Sanjauliparkings Private Limited remains under the Corporate Insolvency Resolution Process (CIRP), with no financial statements available for consolidation.

What the Numbers Show

The divergence between standalone and consolidated profitability underscores the drag from subsidiary liabilities. While the holding company maintained a positive net profit margin of 6.7% on standalone operations, the consolidated margin compressed to 4.6%. This indicates that while core infrastructure activities remain viable, the group’s overall financial health is heavily contingent on the resolution of long-pending arbitration cases and the regularization of its banking relationships.

Twamev Construction and Infrastructure Limited has clarified the delay in disclosing the resignation of its Chief Operating Officer (COO), Debajyoti Debnath, which was effective October 31, 2025. The company attributed the delay to an inadvertent error by the Compliance Officer, who was unaware that the resignation required intimation to the stock exchanges within the prescribed 24-hour timeline. The initial disclosure regarding the resignation was submitted on July 3, 2026, while the clarification was sent on July 8, 2026.

The company stated that the omission was unintentional and not deliberate, emphasizing that there was no intention to withhold material information from investors. In its communication to BSE Limited and National Stock Exchange of India Limited, Twamev Construction expressed regret for the lapse and assured that necessary internal measures have been implemented to prevent recurrence. The company confirmed strict compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, moving forward.

Neha Saraf, Company Secretary, signed both the initial disclosure and the subsequent clarification. The company requested the exchanges to take the explanation on record and condone the delay.