GMR Power & Urban Infra Limited has announced that Infomerics Valuation and Rating Limited has reaffirmed its credit ratings for bank facilities while withdrawing ratings for Non-Convertible Debentures following their complete repayment. The company informed stock exchanges about these rating actions on February 26, 2026, pursuant to Regulation 30 of SEBI Listing Regulations.

Rating Reaffirmation and Withdrawal Details

Infomerics has maintained its confidence in the company's creditworthiness by reaffirming existing ratings across bank facilities. The rating agency withdrew NCD ratings at the company's request after full repayment of the debentures.

Facility Structure and Lender Details

The company's rated facilities comprise both long-term and short-term non-fund based arrangements with established banking partners. The long-term facility of Rs. 380.00 crore consists of Bank Guarantees from IDBI Bank with tenor exceeding one year. The short-term facility worth Rs. 5.30 crore involves Bank Guarantees from Union Bank of India with tenor less than six months.

NCD Repayment and ISIN Extinguishment

The Non-Convertible Debentures with ISIN INE0CU607015, previously rated at the outstanding balance, have been fully repaid by the company. Axis Trustee, acting as Debenture Trustee, issued a No Objection Certificate for extinguishment of the ISIN on July 17, 2025, confirming the complete settlement of the debenture obligations.

Rating Validity and Surveillance Framework

The reaffirmed ratings remain valid for one year from the previous surveillance rating communication dated March 03, 2025. Infomerics reserves the right to conduct periodic surveillance and review of the ratings, with at least one review mandated annually. The rating agency has established monitoring requirements including monthly No Default Statements and quarterly performance data submissions.

Rating Implications

The rating reaffirmation reflects the company's maintained credit profile and ability to service its financial obligations. The IVR BBB-/Stable rating indicates moderate degree of safety regarding timely servicing of financial obligations with moderate credit risk. The IVR A3 rating for short-term facilities suggests moderate degree of safety for timely payment obligations, carrying higher credit risk compared to higher-rated categories but maintaining acceptable risk levels for short-term commitments.

GMR Power and Urban Infra Limited announced its quarterly financial results for Q3FY26, covering the quarter ended December 31, 2025. The Board of Directors approved the unaudited financial results during their meeting held on February 6, 2026, which commenced at 5:30 PM and concluded at 7:00 PM.

Investor Presentation Disclosure

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the company has released an investor presentation on the unaudited financial results for the quarter and nine months ended December 31, 2025. The presentation has been uploaded on the company's website at www.gmrpui.com and submitted to BSE Limited and National Stock Exchange of India Ltd.

Financial Performance Highlights

The company's consolidated financial results show total income of ₹20.03 billion for Q3FY26 compared to ₹17.62 billion in Q3FY25. EBITDA stood at ₹5.02 billion with a margin of 25%, while the company reported a loss after tax of ₹1.60 billion including exceptional items.

Energy Segment Performance

The energy business demonstrated strong operational performance with both Kamalanga and Warora power plants achieving high Plant Load Factors (PLF). Kamalanga achieved 83% PLF in Q3FY26 versus 82% in Q3FY25, while Warora maintained 84% PLF compared to 86% in the previous year.

Major Corporate Developments

The Board approved the issuance of equity shares and convertible warrants on a preferential basis to promoter and non-promoter entities on December 17, 2025. This was subsequently approved by shareholders on January 16, 2026, raising ₹9.00 billion for the company.

Following this allotment, the paid-up equity share capital increased from ₹3.57 billion to ₹3.91 billion. The warrants are convertible into equity shares within 18 months from the allotment date upon payment of the balance 75% amount.

Debt Refinancing and Claim Recovery

GMR Kamalanga Energy Limited (GKEL) secured a senior loan facility of ₹27.00 billion and used the proceeds to repay existing lenders. This refinancing reduced GKEL's average cost of borrowing from approximately 12.15% per annum to 9.50% per annum, with potential for further reduction to 9.25% per annum subject to credit rating upgrade.

Additionally, GKEL received the entire claim amount of ₹11.40 billion from Haryana DISCOM following the Supreme Court's dismissal of civil appeals filed by the Distribution Licensees of Haryana and GRIDO.

Business Operations and Portfolio

GMR Power and Urban Infra Limited operates through various subsidiaries, joint ventures, jointly controlled operations, and associates. The company carries on its business across multiple verticals including power generation, roads development, EPC services, and smart meter infrastructure.

The group's business segments comprise power generation and transmission, roadways development and operation, engineering procurement and construction (EPC), smart meter infrastructure implementation, and urban infrastructure activities. The company has installed approximately 30 lakh smart meters across all project areas as of January 26, 2026.

Regulatory Compliance and Documentation

Walker Chandiok & Co LLP conducted the limited review of both standalone and consolidated financial results. The auditors confirmed that nothing came to their attention suggesting the financial statements were not prepared in accordance with applicable accounting standards.

The investor presentation was digitally signed by Vimal Prakash, Company Secretary & Compliance Officer, on February 8, 2026. Investors can access the complete unaudited financial results and investor presentation on the company's website at www.gmrpui.com or through BSE and NSE websites.