🚨 GAYATRI PROJECTS (GPL) | FY26: CIRP EXIT + 88% REVENUE

🚨 GAYATRI PROJECTS (GPL) | FY26: CIRP EXIT + 88% REVENUE GROWTH — BUT THE REAL TURNAROUND IS JUST BEGINNING Gayatri Projects Ltd. has entered a new phase after successfully exiting the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the IBC. The balance sheet has undergone a major reset. Now the key question is: Can the company convert this financial restructuring into a sustainable EPC turnaround? 📊 FY26: Strong Operating Rebound 🔹 Revenue from Operations: ₹846.89 Cr | +88.23% YoY 🔹 FY25 Revenue: ₹449.92 Cr 🔹 Profit Before Exceptional Items & Tax: ₹95.08 Cr 🔹 FY25: Loss of ₹40.62 Cr The reported PAT of ₹2,046.95 Cr is largely driven by a massive exceptional gain from debt settlement under the approved OTS framework.

So, for analysing the underlying business, operating profitability matters far more than headline PAT. 💰 The Biggest Change: Debt Restructuring The company completed debt settlement through the One-Time Settlement process following its CIRP exit. This has substantially changed the financial structure and removed a major part of the historical debt overhang. The company also completed a preferential allotment of 27.71 Cr shares at ₹10/share, raising approximately ₹277.10 Cr after the balance-sheet date. An important market development: 📌 BSE & NSE revoked the trading suspension effective 9 April 2026 after pending financial disclosures were cleared. 🏗️ Core Business: Selective EPC Revival Management is now focusing on disciplined participation in infrastructure projects across: 🛣️ Roads & Highways 💧 Irrigation & Water Supply ⛏️ Mining 🏭 Industrial Construction The strategy has shifted from aggressive expansion toward selective — Neha Gupta | SEBI Registered Research Analyst Registration No.: INH000016542 ⚠️ For educational and research purposes only. Not investment advice. Investors should conduct their own research and assess risks independently.