Twamev Construction and Infrastructure Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹910 lakh. This turnaround compares to a net loss of ₹5,236 lakh recorded in the previous year. Revenue from operations for the year stood at ₹6,745 lakh, a decrease from the ₹8,486 lakh reported in FY25. The company’s Board of Directors approved the audited financial results for both standalone and consolidated entities during a meeting held on May 29, 2026. The company published these audited financial results in Business Standard and Arthik Lipi on May 29, 2026, in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The statutory auditors, M/s J Jain & Co., issued a modified opinion on the consolidated financial results. The modification was primarily due to qualifications in the audit reports of subsidiaries, Tantia Infrastructure Private Limited and Tantia Raxaultollway Private Limited. Specific issues included a loan of ₹543.83 lakh to a non-banking finance company where no interest income was considered, and an abandoned project where arbitration claims of ₹98,618 lakh are pending against the National Highway Authority of India (NHAI). The auditors noted that no adjustments were made in the books of accounts pending the outcome of these proceedings. Additionally, Tantia Raxaultollway Private Limited had not made provisions for interest on facilities that became Non-Performing Assets (NPA) from April 1, 2018, nor for a claim of ₹38,510 lakh received from an EPC contractor.

In its standalone financial results, the company reported other income of ₹110 lakh for the year, a sharp decline from ₹7,903 lakh in the previous year. This decrease was attributed to the absence of income from arbitration awards, which had contributed ₹7,795 lakh in FY25. Additionally, the company noted that it had not accounted for ₹8 lakh in rental income for its RMC plant at Guwahati for the period from January to March 2026. The auditors highlighted that the standalone profit was understated by ₹32 lakh due to cumulative unaccounted rental income.

The Board also approved the re-appointment of M/s VG Advisors as the internal auditor and M/s S. Chhaparia & Associates as the cost auditor for the financial year 2026-27. The company is currently in the process of settling a resolution plan amount of ₹21 crore, subject to the account status being upgraded from Non-Performing Asset (NPA) to Standard, as per an NCLT Kolkata order dated July 14, 2024.

Standalone Financial Performance (FY26)

The company’s total assets stood at ₹62,233 lakh as of March 31, 2026, while total equity amounted to ₹46,479 lakh. The auditors emphasized that the financial results were prepared in compliance with Indian Accounting Standards (Ind-AS) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Twamev Construction and Infrastructure Limited reported multiple compliance deviations for the financial year ended March 31, 2026, including delays in publishing financial results and submitting regulatory filings. The company incurred penalties amounting to ₹3.92 lakh due to these lapses, particularly concerning minimum public shareholding norms and timely disclosures. The secretarial audit, conducted by MR & Associates, highlighted that while the entity largely adhered to regulations, specific procedural delays resulted in regulatory action and fines.

The report identified a delay in achieving the minimum public shareholding of 10%, which had a due date of April 15, 2025. Consequently, the National Stock Exchange (NSE) and BSE initiated freezing actions against the promoters and imposed a fine of ₹3,90,000 each. The company stated that the 10% threshold was achieved during the financial year and that it is continuing its offer for sale process to reach the mandated 25% public shareholding within the stipulated time frame.

Procedural Delays and Filings

Twamev Construction acknowledged minor delays in publishing newspaper advertisements for financial results for the quarters ended March 2025 and December 2025. Additionally, there was a time lag in submitting Integrated Filing in XBRL mode for the quarters ended March 2025, June 2025, and September 2025 due to technical constraints. The company confirmed that while consolidated financial results were submitted in PDF format on time, the XBRL submissions faced delays.

Other lapses included the non-intimation of the appointment of Senior Management Personnel Mr. Biswajit Chakraborty following the board meeting on November 12, 2025, and the subsequent failure to file this in XBRL mode. The company also faced a fine of ₹2,000 each from BSE and NSE for the non-submission of the Annual Report for FY25 to the stock exchanges within the prescribed period, despite dispatching it to shareholders on September 1, 2025.

Compliance Status and Remedial Actions

The auditor noted that the company had updated the list of immediate relatives for trading restrictions later than required under SEBI (Prohibition of Insider Trading) Regulations. However, it was confirmed that no trading occurred by these relatives during the closure of the trading window. Management attributed the deviations to inadvertent administrative errors and technical issues, assuring that internal controls and compliance tracking mechanisms have been strengthened to prevent recurrence.