News Earnings GVK Power & Infrastructure Reports Massive Loss of ₹1,038.84 Crores in Q3FY26 Amid CIRP ProceedingsGVK Power & Infrastructure Reports Massive Loss of ₹1,038.84 Crores in Q3FY26 Amid CIRP Proceedings
GVK Power & Infrastructure Limited reported a massive standalone net loss of ₹1,038.84 crores for nine months ended December 31, 2025, compared to ₹3 crores profit in the previous year. Consolidated losses reached ₹1,379.68 crores versus ₹793.03 crores profit previously. The company operates under CIRP with creditor claims of ₹21,792 crores, of which ₹15,945 crores have been admitted. Revenue declined significantly across all segments, with power segment revenue falling 89% to ₹82.60 crores.
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GVK Power & Infrastructure Limited has reported substantial losses for the third quarter and nine months ended December 31, 2025, reflecting the company's ongoing financial distress amid Corporate Insolvency Resolution Process (CIRP) proceedings.
Financial Performance Overview
The company's standalone financial results show a dramatic deterioration in performance. For the nine months ended December 31, 2025, GVK Power reported a net loss of ₹1,038.84 crores compared to a profit of ₹3 crores in the corresponding period of the previous year.
| Financial Metric: | Nine Months FY26 | Nine Months FY25 | Change |
|---|---|---|---|
| Revenue from Operations: | Nil | ₹113 lakhs | -100% |
| Other Income: | ₹238 lakhs | ₹274 lakhs | -13.14% |
| Total Income: | ₹238 lakhs | ₹387 lakhs | -38.50% |
| Net Loss: | ₹1,038.84 crores | ₹3 crores profit | - |
| Basic EPS: | ₹(6.58) | ₹0.00 | - |
For the quarter ended December 31, 2025, the company reported a standalone net loss of ₹20 lakhs compared to a loss of ₹9 lakhs in Q3FY25.
Consolidated Results Show Deeper Losses
The consolidated financial performance presents an even more challenging picture. The company reported a consolidated net loss of ₹1,379.68 crores for the nine months ended December 31, 2025, compared to a profit of ₹793.03 crores in the previous year.
| Consolidated Metrics: | Nine Months FY26 | Nine Months FY25 | Change |
|---|---|---|---|
| Revenue from Operations: | ₹80.53 crores | ₹758.06 crores | -89.38% |
| Other Income: | ₹5.22 crores | ₹57.13 crores | -90.86% |
| Total Income: | ₹85.75 crores | ₹815.19 crores | -89.48% |
| Net Loss: | ₹1,379.68 crores | ₹793.03 crores profit | - |
| Basic EPS: | ₹(5.30) | ₹4.41 | - |
CIRP Proceedings and Creditor Claims
The company has been operating under CIRP since July 15, 2024, following an NCLT order dated July 12, 2024. The Resolution Professional (RP) has received claims totaling ₹21,792.48 crores from financial creditors, of which ₹15,944.89 crores have been admitted for CIRP purposes.
| CIRP Details: | Amount (₹ Crores) |
|---|---|
| Total Claims Received: | 21,792.48 |
| Claims Admitted: | 15,944.89 |
| Claims Not Admitted: | 5,847.60 |
| GVK Coal Creditor Claims: | 18,831.45 |
The Committee of Creditors (CoC) has rejected two resolution plans as non-compliant and resolved to re-initiate the CIRP process based on an asset-wise sale approach.
Exceptional Items and Impairments
The company's financial results were significantly impacted by exceptional items totaling ₹1,042.56 crores in the consolidated statements. Major impairments include:
- Impairment of investments in GVK Energy Limited: ₹841.20 crores
- Deconsolidation loss from loss of control over subsidiaries: ₹1,041.58 crores
- Other expenses increased substantially to ₹199.89 crores from ₹3.00 crores in the previous year
Segment Performance
The company's segment-wise performance shows significant decline across all business verticals:
| Segment: | Nine Months FY26 Revenue | Nine Months FY25 Revenue | Change |
|---|---|---|---|
| Power: | ₹82.60 crores | ₹780.97 crores | -89.42% |
| Roads: | Nil | Nil | - |
| Others: | Nil | ₹1.13 crores | -100% |
Going Concern Uncertainties
The auditors have issued a disclaimer of conclusion citing significant uncertainties about the company's ability to continue as a going concern. Key concerns include:
- Accumulated losses exceeding assets
- Default on loan repayments and interest
- Multiple litigation proceedings
- Guarantees and commitments related to GVK Coal Developers (Singapore) totaling USD 1,132.45 million
- Various subsidiaries under insolvency proceedings
Despite these challenges, the financial results have been prepared on a going concern basis, with management believing that the CIRP outcome will enable the company to continue operations.
Source: Company Filing
Historical Stock Returns for GVK Power & Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.33% | +2.01% | +2.35% | -16.44% | -28.90% | +10.91% |
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