Gayatri Projects Limited Explains Delay in Q2 FY26 Financial Results Submission
Gayatri Projects Limited disclosed reasons for delayed Q2 FY26 financial results submission, citing auditor transition following CIRP withdrawal on September 10, 2025. The company's current auditors' term expires with FY 2022-23, requiring new auditor appointment at December 2025 AGM. The company commits to submitting pending financial statements on priority and quarterly results by December 31, 2025.
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Gayatri Projects Limited has informed stock exchanges about the delay in submitting its financial results for the quarter ended September 30, 2025, citing auditor transition issues following its recent withdrawal from the Corporate Insolvency Resolution Process (CIRP).
Corporate Restructuring Timeline
The company provided a detailed timeline of recent corporate developments that have impacted its financial reporting schedule:
| Event | Date |
|---|---|
| CIRP Admission | November 15, 2022 |
| CIRP Withdrawal | September 10, 2025 |
| New Board Constitution | September 13, 2025 |
| FY 2022-23 Results Submission | November 4, 2025 |
Auditor Transition Challenge
The primary reason for the delay stems from the expiration of the current statutory auditors' term. M/s. MOS Associates LLP, the company's present statutory auditors, have a term valid only until the financial year ending March 31, 2023. Under Section 139(2) of the Companies Act, 2013, they are not eligible for further appointment.
The Board of Directors, at their meeting held on November 4, 2025, recommended the appointment of new statutory auditors. This appointment requires shareholder approval at the Annual General Meeting scheduled for December 2025.
Financial Statements Status
Gayatri Projects has made significant progress in updating its financial reporting:
- Completed: Audited Financial Statements for the year ended March 31, 2023, submitted to exchanges on November 4, 2025
- In Process: Financial statements for FY 2023-24 and FY 2024-25 are being finalized
- Pending: Quarterly results for June 2025 and September 2025
Timeline for Compliance
The company has provided a clear roadmap for completing its pending financial submissions:
| Milestone | Expected Timeline |
|---|---|
| New Auditor Appointment | December 2025 AGM |
| FY 2023-24 & 2024-25 Results | Priority basis post-auditor appointment |
| Q1 & Q2 FY26 Results | By December 31, 2025 |
Once the new auditors are appointed, Gayatri Projects undertakes to submit the financial statements for FY 2023-24 and FY 2024-25 on a priority basis. Subsequently, the company commits to submitting the financial results for June 2025 and September 2025 by December 31, 2025.
Company Background
Gayatri Projects Limited trades on BSE with scrip code 532767 and on NSE with the symbol GAYAPRO. The company's registered and corporate office is located at B1, 6-3-1090, TSR Towers, Raj Bhavan Road, Somajiguda, Hyderabad 500082. The disclosure was signed by T.V. Sandeep Kumar Reddy, Chairman and Managing Director (DIN: 00005573).
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