Globe Civil Projects Limited successfully conducted its scheduled board meeting on February 14, 2026, approving the company's unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The board meeting, which commenced at 05:50 P.M. and concluded at 07:00 P.M., fulfilled the company's regulatory obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Outcome

The board of directors formally considered and approved comprehensive financial documents covering both quarterly and nine-month periods. The company notified both the National Stock Exchange of India Limited and BSE Limited about the successful completion of this important corporate development.

Audit Committee and Statutory Review

The financial results received approval from the Audit Committee at their meeting held on February 14, 2026, before being presented to the board of directors. Jagdish Chand & Co., Chartered Accountants (Firm Registration Number: 000129N), conducted a limited review of both standalone and consolidated financial results under Regulation 33 of the SEBI regulations.

The statutory auditors expressed an unmodified opinion on the financial results, confirming compliance with Indian Accounting Standards and regulatory requirements. Partner Pawan Kumar (Membership Number: 511057) signed the limited review reports on behalf of the audit firm.

Financial Results Framework

The financial statements were prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013. The company identified "Engineering, Procurement & Construction" (EPC) as its only reportable operating segment based on quantitative measures and internal reporting used by the Chief Operating Decision Maker.

IPO Proceeds Utilization

The company provided an update on the utilization of net IPO proceeds, demonstrating progress across various strategic initiatives. Globe Civil Projects had raised ₹119.00 crore through its Initial Public Offering, with equity shares listed on NSE and BSE on July 1, 2025.

Regulatory Compliance and Disclosure

The announcement demonstrates Globe Civil Projects' adherence to transparency requirements and regulatory compliance. The company noted that comparative financials for the quarter ended December 31, 2024, are not available since the equity shares were listed on July 1, 2025, and the company was not required to prepare such comparative financials.

The consolidated financial results include six joint ventures/operations and one associate company, with the statutory auditors noting that these entities' financial information is unaudited but not material to the group. The financial results are available on stock exchange websites and the company's official website at www.globecivilprojects.com .

Globe Civil Projects Limited (GCPL) has secured a significant legal victory as the District Court dismissed a ₹23.81 lakh recovery suit filed against the company. The case, which involved legal heirs of P.D. Verma, was concluded in favor of GCPL, affirming that the company had fulfilled its payment obligations for completed work.

Key Points of the Judgment

• The Hon'ble Court of Sh. Munish Bansal, District Judge-03, South District, Saket Courts Complex, New Delhi, pronounced the judgment on November 15, 2025.
• The suit (CS DJ No. 8701/2016) filed by P.D. Verma's legal heirs was dismissed, with the court finding it to be without cause of action.
• The judgment confirms that Globe Civil Projects had made full and final payment for the work executed and is not liable for any further dues.

Background of the Case

The legal dispute stemmed from a contract for plumbing works at the Indian Institute of Management, Lucknow (Noida Campus). The plaintiffs, representing P.D. Verma, had claimed outstanding dues of ₹20.61 lakh plus interest, totaling ₹23.81 lakh.

Court's Observations

The court made several key observations that led to the dismissal of the suit:

1. Lack of evidence: The plaintiffs failed to provide substantial evidence to prove the completion of work worth ₹20.61 lakh.
2. Delayed billing: The final bill was raised almost two years after the alleged completion of work, raising suspicions about the claim's validity.
3. Absence of completion certificate: No completion certificate or acknowledgment was issued by GCPL, which would have been crucial in supporting the plaintiff's claim.
4. Questionable third-party certificate: A certificate from IIM Lucknow/Noida was found to have limited credibility in establishing GCPL's liability.

Implications for Globe Civil Projects

This favorable judgment conclusively resolves the litigation in Globe Civil Projects' favor, removing a potential financial liability of ₹23.81 lakh. The outcome reinforces the company's position regarding its payment practices and contract management.

Company's Statement

In a regulatory filing, Vineet Rattan, Company Secretary and Compliance Officer of Globe Civil Projects Limited, stated, "This favorable judgment conclusively resolves the litigation and affirms the Company's position."

The resolution of this legal matter may positively impact investor confidence in Globe Civil Projects' operational and financial management practices.