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Latest filing: 2026-10-07 12:19
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34 announcements match the current filters (relevance ≥ 5).
Promoter Entity Sells 2.54% Stake in TICL for ₹2.61 Cr Without Prior Intimation
Twamev Construction and Infrastructure Limited reported that promoter group entity M/s Upendra Singh Constructions Private Limited sold 39,37,446 equity shares (a cumulative 2.54% stake) between September 19, 2026, and September 30, 2026. The total consideration received for the shares was Rs. 2,60,99,516.32. Notably, the promoter group did not provide prior intimation to the company, and management only identified the transaction during a routine benpos check.
Confidence: HIGH
What changedA promoter group entity reduced its holding by 2.54% (39.37 lakh shares) via open market or unnotified sales in late September 2026.
Why it mattersUnannounced promoter selling raises corporate governance and compliance concerns, while adding supply overhang in a micro-cap counter that has already declined over 60% in six months.
Total shares sold: 39,37,446Total stake sold: 2.54%Total consideration: Rs. 2,60,99,516.32Transaction period: 19th Sep, 2026 till 30th Sep, 2026
📅 Short termMay place negative sentiment and market overhang on the stock price due to unexplained promoter divestment and governance oversight gaps.
📈 Long termLimited operational impact, but recurring unnotified promoter sales can erode minority shareholder trust and trigger regulatory scrutiny.
⚠ Risk flags
- Promoter group selling without prior internal intimation
- Potential non-compliance inquiries under SEBI PIT Regulations
- Persistent selling pressure amidst sharp multi-month stock price declines
Key Highlights
Promoter group entity sold 31,16,333 shares (2.01%) and 8,21,113 shares (0.53%), totaling a 2.54% stake
Total transaction consideration amounted to Rs. 2,60,99,516.32 across the two tranches
Sales took place over the period from September 19, 2026, to September 30, 2026
Transaction was executed without prior intimation to the company, discovered via regular benpos checks
👀 What to Watch
Monitor upcoming shareholding pattern filings to track if further promoter dilution occurs, and watch for any regulatory follow-ups or disclosures regarding compliance under SEBI PIT regulations.
Promoter & Group Sell Up to 1.10 Cr Shares (7.1% Stake) in Open Market for Over ₹5.6 Cr
Twamev Construction and Infrastructure Limited reported open market share sales executed on September 23, 2026, by its promoter and promoter group entities. Promoter Ravi Todi sold 90,00,000 equity shares (5.81% of total equity) for approximately ₹5.05 crore, reducing his direct stake from 31.79% to 25.98%. In addition, promoter group entities Ravi Todi HUF and Nadia Security Printing & Stationery sold 10,00,000 shares (0.65%) each, with Nadia completely liquidating its holding for ₹58.02 lakh.
Confidence: HIGH
What changedPromoter Ravi Todi and promoter group entities disposed of a combined ~1.10 crore shares (~7.1% stake) in open market transactions.
Why it mattersA significant open market divestment by primary promoters can weigh on stock sentiment, increase free float, and indicates promoter liquidity realization.
Shares sold by Ravi Todi: 90,00,000Ravi Todi stake reduction: 5.81%Ravi Todi transaction value: Rs 50535199.50Shares sold by Nadia Security Printing: 10,00,000Total diluted share capital: 15,50,00,000 equity shares
📅 Short termMay exert short-term supply pressure on the stock price following sizeable open-market sales by insiders.
📈 Long termWhile promoters retain a controlling interest (>70%), persistent insider divestments warrant close tracking regarding governance and capital allocation.
⚠ Risk flags
- Large promoter stake dilution in open market
- Complete exit by promoter group entity Nadia Security Printing
Key Highlights
Promoter Ravi Todi offloaded 90,00,000 equity shares (5.81% stake) via the open market on 23rd September, 2026
Ravi Todi's direct shareholding decreased from 4,92,72,278 shares (31.79%) to 4,02,72,298 shares (25.98%)
Promoter group entity Nadia Security Printing & Stationery sold its entire 10,00,000 shareholding (0.65%) for ₹58.02 lakh
Total shares sold across disclosures aggregate to 1,10,00,000 shares (7.10% of total 15.50 crore share capital)
👀 What to Watch
Track the upcoming quarterly shareholding pattern to monitor total promoter group stake changes and observe if secondary market selling pressure continues.
Promoters to Sell 8.40% Stake (1.30 Cr Shares) to Comply with Minimum Public Shareholding
Twamev Construction and Infrastructure Limited announced that its promoter and promoter group entities plan to sell 1,30,00,000 equity shares (8.40% of paid-up capital) in the open market between September 23, 2026, and September 25, 2026. The sale is being undertaken to comply with SEBI's Minimum Public Shareholding (MPS) mandate of 25%, as promoter holding stood at 84.06% as of March 2026. Key selling entities include promoter Ravi Todi (7.10%), Ravi Todi HUF (0.65%), and Nadia Security Printing & Stationery Co Pvt Ltd (0.65%). At the current market price of Rs 5.6 per share, the transaction represents approximately Rs 7.28 crore in equity value.
Confidence: HIGH
What changedPromoters initiated an open-market divestment of an 8.40% stake (1.30 crore shares) scheduled across September 23–25, 2026.
Why it mattersThe divestment brings promoter holding down from ~84.1% to roughly 75.7%, moving the company in line with the mandatory 25% minimum public float without incurring regulatory penalties.
Shares to be sold: 1,30,00,000Percentage of share capital: 8.40%Ravi Todi divestment: 1,10,00,000 shares (7.10%)Divestment period: 23rd September, 2026 till 25th September, 2026Current Promoter Holding: 84.06%
📅 Short termLarge open-market supply of 1.30 crore shares relative to micro-cap daily liquidity may put short-term downward pressure on the stock price over the trading days of September 23–25, 2026.
📈 Long termStructurally positive for regulatory compliance and increased public free float, eliminating risks of exchange non-compliance or penalties regarding the 25% MPS threshold.
⚠ Risk flags
- Open market absorption risk: selling 8.40% equity in 3 trading days could cause elevated short-term price volatility
Key Highlights
Promoter group to sell 1,30,00,000 equity shares, representing 8.40% of total paid-up share capital
Divestment window scheduled from September 23, 2026, to September 25, 2026, via open market route
Individual promoter Ravi Todi to sell 1,10,00,000 shares (7.10% stake)
Ravi Todi HUF and Nadia Security Printing & Stationery Co Pvt Ltd to sell 10,00,000 shares (0.65%) each
Sale undertaken to satisfy regulatory MPS requirements under SCRR Rule 19A and SEBI LODR Regulation 38
👀 What to Watch
Track the open-market execution and potential short-term supply overhang during the September 23-25, 2026 window, followed by shareholding disclosures confirming MPS compliance.
TICL Appoints New CEO; Q1 Revenue at ₹11.04 Cr with Significant Auditor Qualifications
Twamev Construction and Infrastructure Limited (TICL) has appointed Biswajit Chakraborty as CEO effective August 11, 2026, as part of its post-restructuring leadership. The company reported Q1 FY27 revenue of ₹11.04 Cr, though auditors highlighted that ₹3.02 Cr (27%) of this is unbilled revenue. Crucially, auditors issued qualified opinions on consolidated results, noting that the new management is still struggling to gain control of two subsidiaries (TIPL and TRPL) currently held by erstwhile promoters. The company is also in the final stages of a ₹21 Cr resolution plan settlement following its CIRP process.
Confidence: HIGH
What changedThe company has transitioned its leadership by appointing a new CEO and disclosed Q1 FY27 results that continue to carry heavy legacy auditor qualifications.
Why it mattersAs a company emerging from insolvency (CIRP), management stability and the ability to reclaim control of subsidiaries are vital for executing its ₹325-330 Cr order book.
Q1 Revenue: ₹11.04 CrUnbilled Revenue: ₹3.02 CrResolution Plan Amount: ₹21.00 CrOrder Book: ₹325-330 CrAGM Date: 22nd September 2026
📅 Short termThe stock may remain volatile as the market digests the auditor's concerns regarding subsidiary control and the high proportion of unbilled revenue.
📈 Long termThe long-term recovery depends on the new CEO's ability to monetize the unexecuted order book (approx. 5x TTM revenue) and resolve legacy NPA status.
⚠ Risk flags
- Auditor qualification regarding lack of control over subsidiaries TIPL and TRPL
- High unbilled revenue (27% of Q1 total)
- Ongoing NPA status and pending resolution plan settlement
- Non-provisioning for Gratuity and Leave Encashment
Key Highlights
Revenue from operations for Q1 FY27 reported at ₹11.04 Cr.
Unbilled revenue accounts for ₹3.02 Cr of the total quarterly revenue.
Resolution plan settlement of ₹21.00 Cr is currently in progress subject to account upgradation from NPA.
Biswajit Chakraborty appointed as CEO effective August 11, 2026, moving from a senior management role.
61st Annual General Meeting (AGM) scheduled for September 22, 2026.
👀 What to Watch
Investors should monitor the 61st AGM for updates on the transition of control for the TIPL and TRPL subsidiaries. Key metrics to watch include the conversion of the ₹3.02 Cr unbilled revenue into cash and the final closure of the ₹21 Cr resolution plan.
TICL Appoints New CEO; Q1 Revenue at ‡11.04 Cr Amid Significant Auditor Qualifications
TICL (formerly Tantia Constructions) reported Q1 FY27 revenue of ‡11.04 Cr, which includes ‡3.02 Cr (27%) of unbilled revenue. The board appointed Biswajit Chakraborty as CEO to oversee project execution and resource utilization. However, auditors issued several qualifications, including the company's inability to gain control over subsidiaries TIPL and TRPL from former promoters and a pending ‡21 Cr resolution plan settlement. The company also failed to provide for employee benefits (Gratuity/Leave Encashment) as per Ind-AS 19, impacting reported profits.
Confidence: HIGH
What changedThe company has transitioned its leadership by appointing a new CEO and has set the timeline for its 61st AGM while disclosing ongoing struggles with subsidiary control and legacy financial settlements.
Why it mattersFor a micro-cap company (Market Cap ‡156 Cr) recovering from insolvency, the ability of new management to resolve auditor concerns and execute the ‡325-330 Cr order book is critical for survival and growth.
Q1 Revenue: ‡11.04 CrUnbilled Revenue: ‡3.02 CrResolution Plan Settlement: ‡21 CrQ1 Revenue vs TTM Revenue: 16.4%AGM Date: 22nd September, 2026
📅 Short termThe stock may face pressure due to the auditor's emphasis on unbilled revenue and the lack of control over key subsidiaries, despite the positive step of appointing a new CEO.
📈 Long termThe long-term outlook remains uncertain until the company fully resolves its CIRP-related settlements and demonstrates consistent execution of its order book with improved margins.
⚠ Risk flags
- Auditor qualifications regarding subsidiary control
- High unbilled revenue (27% of Q1 total)
- Non-compliance with Ind-AS 19 for employee benefits
- Pending ‡21 Cr resolution payment
Key Highlights
Reported revenue of ‡11.04 Cr for the quarter ended June 30, 2026.
Unbilled revenue stands at ‡3.02 Cr, representing a significant portion of quarterly turnover.
Pending full and final settlement of ‡21 Cr resolution plan amount as per NCLT orders.
Appointment of Biswajit Chakraborty as CEO effective August 11, 2026.
61st Annual General Meeting (AGM) scheduled for September 22, 2026.
👀 What to Watch
Investors should closely monitor the management's progress in taking control of subsidiaries from erstwhile promoters and the status of the ‡21 Cr resolution plan settlement. Watch for the full Annual Report to understand the impact of non-provisioning for employee benefits on the bottom line.
TICL Appoints Biswajit Chakraborty as CEO; Reports Rs 11.04 Cr Q1 Revenue
Twamev Construction and Infrastructure Limited (TICL) has appointed Mr. Biswajit Chakraborty as CEO, effective August 11, 2026, following his tenure in senior management. The company reported Q1 FY27 revenue of Rs 11.04 Cr, though auditors highlighted that Rs 3.02 Cr (27%) of this is unbilled revenue. TICL is currently finalizing a Rs 21 Cr resolution plan settlement following its 2023 restructuring. While the company maintains a substantial order book of Rs 325-330 Cr, auditors raised concerns regarding missing gratuity provisions and unrecorded rental income.
Confidence: HIGH
What changedTICL has transitioned its leadership by promoting an internal senior manager to CEO and released its first-quarter financial results for FY27.
Why it mattersFor a company that recently emerged from insolvency (CIRP) and has a market cap of only Rs 156 Cr, stable leadership and the resolution of legacy NPA issues are critical for executing its Rs 330 Cr order book.
Q1 Revenue: Rs 11.04 CrUnbilled Revenue: Rs 3.02 CrResolution Plan Settlement: Rs 21 CrOrder Book vs TTM Revenue: 492%Unrecorded Rental Income: Rs 8 Lakh
📅 Short termThe stock may remain volatile as the market digests the Q1 results and the auditor's emphasis of matter regarding unbilled revenue and missing provisions.
📈 Long termThe structural turnaround depends on the new CEO's ability to improve execution efficiency and resolve legacy disputes, including the arbitration proceeding in Cuttack.
⚠ Risk flags
- High unbilled revenue (27% of Q1 total)
- Ongoing NPA settlement process
- Audit qualifications regarding missing employee benefit provisions
- High dependence on government contracts
Key Highlights
Appointment of Biswajit Chakraborty as CEO effective August 11, 2026.
Reported Q1 FY27 revenue of Rs 11.04 Cr, with Rs 3.02 Cr classified as unbilled revenue.
Ongoing settlement of a Rs 21 Cr (Rs 2100 Lacs) resolution plan as per NCLT Kolkata orders.
Unexecuted order book stands at Rs 325-330 Cr, which is approximately 4.9x the TTM revenue of Rs 67 Cr.
Auditors noted an understatement of profit due to missing gratuity provisions and Rs 8 Lakh in unrecorded rental income.
👀 What to Watch
Investors should monitor the conversion of the Rs 3.02 Cr unbilled revenue into cash and the progress of the Rs 21 Cr resolution plan settlement. The execution of the large order book under the new CEO will be the primary driver for the stock, which has declined over 60% in the last year.
TICL Reports ₹11.04 Cr Q1 Revenue; Appoints Biswajit Chakraborty as CEO
TICL reported a revenue of ₹11.04 Cr for the quarter ended June 30, 2026, which accounts for approximately 16.5% of its TTM revenue of ₹67 Cr. The results are heavily caveated by auditors, noting that ₹3.02 Cr (27% of quarterly revenue) is unbilled and that provisions for gratuity and leave encashment were not made. The company is currently settling a ₹21 Cr resolution plan amount following its CIRP process. A key management change was announced with Biswajit Chakraborty elevated to CEO to oversee project execution and resource planning.
Confidence: HIGH
What changedTICL has reported its Q1 FY27 results and formalized its leadership structure by appointing a new CEO following its promoter transition and restructuring.
Why it mattersThe company is attempting a turnaround post-CIRP with a substantial order book, but persistent audit qualifications regarding accounting standards and subsidiary control remain significant risks.
Revenue (Q1 FY27): ₹11.04 CrUnbilled Revenue: ₹3.02 CrResolution Plan Amount: ₹21 CrOrder Book: ₹325-330 CrRevenue vs TTM Revenue: 16.5%
📅 Short termThe market may react to the low revenue conversion relative to the order book and the multiple audit qualifications, potentially keeping the stock under pressure despite the CEO appointment.
📈 Long termStructural recovery depends on the new management's ability to execute the ₹325 Cr order book profitably and resolve legacy issues related to subsidiaries and NHAI asset takeovers.
⚠ Risk flags
- High unbilled revenue (27% of Q1 total)
- Non-compliance with Ind-AS 19 for employee benefits
- Lack of management control over subsidiaries TIPL and TRPL
- Uncertainty regarding recovery of assets taken over by NHAI
Key Highlights
Quarterly revenue from operations reported at ₹11.04 Cr, including ₹3.02 Cr of unbilled revenue.
Resolution plan settlement of ₹21 Cr (₹2100 Lacs) is in progress as per NCLT Kolkata orders.
Rental income of ₹8 Lakh from the Guwahati RMC Plant was not accounted for, understating profit by that amount.
Unexecuted order book stands at ₹325-330 Cr, representing nearly 5x TTM revenue, to be executed over 24-36 months.
Biswajit Chakraborty appointed as CEO effective August 11, 2026, following a transition from Senior Management.
👀 What to Watch
Investors should monitor the conversion of the ₹3.02 Cr unbilled revenue into cash and the final settlement of the ₹21 Cr resolution plan. The transition of control for subsidiaries TIPL and TRPL from erstwhile promoters to the new management is a critical operational milestone to track.
TICL Appoints New CEO; Reports ₹11.04 Cr Q1 Revenue Amid Audit Qualifications
TICL (formerly Tantia Constructions) reported Q1 FY27 revenue of ₹11.04 cr, representing approximately 16.4% of its TTM revenue. The company appointed Biswajit Chakraborty as CEO to lead its post-restructuring phase following the CIRP process. However, the auditor's report highlights significant concerns, including ₹3.02 cr in unbilled revenue and a lack of management control over certain subsidiaries (TIPL and TRPL) still held by erstwhile promoters. The company is also in the process of settling a ₹21 cr resolution plan amount.
Confidence: HIGH
What changedThe company has transitioned its leadership by appointing a new CEO and released its first quarterly results for FY27, while continuing to navigate post-insolvency restructuring issues.
Why it mattersAs a company emerging from restructuring with a significant order book of ₹325-330 cr, its ability to resolve audit qualifications and legacy promoter issues is critical for financial stability and stock recovery.
Q1 Revenue: ₹11.04 crUnbilled Revenue: ₹3.02 crResolution Plan Amount: ₹21.00 crRevenue vs TTM Revenue: 16.4%Order Book: ₹325-330 cr
📅 Short termThe stock may remain volatile as the market digests the audit qualifications regarding subsidiary control and the high proportion of unbilled revenue.
📈 Long termLong-term recovery depends on the successful execution of the ₹325 cr order book and the new CEO's ability to improve margins and resolve legacy legal disputes.
⚠ Risk flags
- Audit qualifications regarding subsidiary control
- High unbilled revenue (27% of quarterly total)
- Ongoing arbitration for suspended projects
- Non-provisioning for gratuity and leave encashment
Key Highlights
Reported Q1 FY27 revenue of ₹11.04 cr, which includes ₹3.02 cr (27%) of unbilled revenue
Final settlement of resolution plan amount of ₹21.00 cr is currently in progress
Biswajit Chakraborty appointed as CEO effective August 11, 2026, to oversee project execution
Auditor noted ₹8 lakh in rental income from the Guwahati RMC plant was not accounted for
Qualified opinion issued as new management is still gaining control of subsidiaries TIPL and TRPL
👀 What to Watch
Investors should monitor the upcoming AGM on September 22, 2026, and track the company's progress in gaining full control over its subsidiaries and settling the resolution plan amount.
CEO Jasodeb Chakraborty Resigns from Twamev Construction Effective June 30, 2026
Mr. Jasodeb Chakraborty has resigned as the Chief Executive Officer of Twamev Construction and Infrastructure Limited, effective June 30, 2026, citing ill health and medical reasons. The company is currently managing a significant unexecuted order book of Rs 325-330 Cr, which is approximately 4.8x its TTM revenue of Rs 67 Cr. This leadership transition occurs as the company targets an additional Rs 250-300 Cr in new orders for the year. Investors should monitor the appointment of a successor to ensure continuity in executing these large-scale infrastructure projects.
Confidence: HIGH
What changedThe Chief Executive Officer has resigned due to health reasons, creating a leadership vacancy effective June 30, 2026.
Why it mattersLeadership stability is critical for TICL as it manages an order book nearly five times its annual revenue and undergoes a post-restructuring growth phase following its 2023 CIRP process.
Unexecuted Order Book: Rs 325-330 CrTTM Revenue: Rs 67 CrOrder Book to TTM Revenue Ratio: ~4.8xTarget New Orders: Rs 250-300 CrEffective Date of Resignation: June 30, 2026
📅 Short termThe market may react with caution to the leadership exit; focus will shift to the board's plan for a smooth transition and the impact on immediate project execution.
📈 Long termThe long-term impact is dependent on the successor's ability to maintain the 60% expected growth rate and manage the high client concentration in public sector contracts.
⚠ Risk flags
- Execution risk during leadership transition
- High client concentration (Government contracts)
- Commodity price volatility affecting fixed-price contracts
Key Highlights
Resignation of CEO Jasodeb Chakraborty effective from the close of business hours on June 30, 2026
Company is managing an unexecuted order book of Rs 325-330 Cr to be executed over 24-36 months
Order book represents approximately 4.8x the TTM revenue of Rs 67 Cr
Targeting new order additions of Rs 250-300 Cr during the current year
Resignation attributed to ill health and ongoing medical issues requiring immediate attention
👀 What to Watch
Monitor the company's announcement regarding a successor and evaluate the new appointee's track record in managing large-scale government infrastructure contracts.
TICL Clarifies CBI Probe Targets Former Promoters; Current Management Unaffected
Twamev Construction and Infrastructure Limited (TICL) has issued a clarification regarding media reports of CBI actions against its former promoters and directors. The company stated that these investigations pertain to events occurring prior to the implementation of the Resolution Plan under the Insolvency and Bankruptcy Code (IBC). Since the acquisition by the new Resolution Applicant, there has been a complete change in ownership, board composition, and management. The company confirms that no proceedings have been initiated against the current management and business operations remain unaffected.
Key Highlights
CBI investigation involves erstwhile promoters and directors no longer associated with the company.
Alleged actions relate to the period before the IBC-approved Resolution Plan was implemented.
Complete change in ownership and management has occurred following the successful IBC process.
No legal proceedings have been initiated against the current promoters, directors, or the company itself.
Company operations continue as usual and remain unaffected by the reported investigations.
👀 What to Watch
Investors should distinguish between the legacy legal issues of former management and the current entity's operations; no immediate action is required as the current management is not implicated.
TICL Promoter Ravi Todi to Sell 30 Lakh Shares (1.94% Stake) for MPS Compliance
Mr. Ravi Todi, a promoter of Twamev Construction and Infrastructure Limited (TICL), has announced the sale of 30,00,000 equity shares, representing approximately 1.94% of the company's total paid-up capital. The divestment will take place through the open market between June 22, 2026, and June 30, 2026. This move is intended to help the company achieve the Minimum Public Shareholding (MPS) requirement as mandated by SEBI. The company clarified that while this sale is a significant step, it will not alone fulfill the entire MPS obligation, and other methods may be used in the future.
Key Highlights
Promoter Ravi Todi to divest 30,00,000 equity shares (1.94% stake) via open market.
Sale period is scheduled from June 22, 2026, to June 30, 2026.
The primary objective is to comply with SEBI's Minimum Public Shareholding (MPS) norms.
The promoter has provided an undertaking not to purchase any shares on the dates of the sale.
This transaction is part of a broader plan as it will not fully satisfy the 25% MPS requirement on its own.
👀 What to Watch
Investors should expect potential short-term price volatility due to the 1.94% stake being sold in the open market. However, the move is fundamentally positive as it improves regulatory compliance and will eventually increase the stock's free float and liquidity.
TICL Promoter Confirms Nil Encumbrance; 1.20 Cr Shares Released from Pledge in FY26
Tarun Chaturvedi, a promoter of Twamev Construction and Infrastructure Limited (TICL), has filed a disclosure under Regulation 31(4) of SEBI SAST Regulations for the financial year ended March 31, 2026. The promoter confirmed that a pledge on 1,20,07,607 equity shares created during the year has been fully released. As of the year-end, the total promoter and Persons Acting in Concert (PAC) group holds 13,02,98,301 shares, representing 84.08% of the company, with zero encumbrances. Major stakeholders include Ravi Todi (31.79%) and Tarun Chaturvedi (13.76%).
Key Highlights
Promoter group confirms 0% encumbrance on their total 84.08% stake as of March 31, 2026.
A significant pledge of 1,20,07,607 shares was created and subsequently released during FY 2025-26.
Total promoter and PAC shareholding stands at 13,02,98,301 equity shares.
Ravi Todi is the largest shareholder in the promoter group with 4,92,72,278 shares (31.79%).
Institutional-style holdings within PAC include GEO Infrastructure Advisory LLP (12.90%) and Upendra Singh Constructions Pvt Ltd (12.50%).
👀 What to Watch
The release of the share pledge and the maintenance of a high promoter holding (84.08%) are positive indicators of promoter confidence and financial health. Investors should continue to monitor the company's execution in the infrastructure sector.
TICL Reports FY26 Revenue of ₹67.45 Cr; Re-appoints Statutory Auditors for 4-Year Term
Twamev Construction and Infrastructure Limited (TICL) reported a decline in revenue from operations to ₹67.45 crore for FY26, compared to ₹84.86 crore in the previous year. The company is currently in the process of finalizing a ₹21 crore resolution plan settlement as per NCLT orders. Other income saw a significant drop to ₹1.10 crore from ₹79.03 crore, primarily due to the absence of one-time arbitration interest gains recorded in the prior year. Additionally, the board has approved the re-appointment of M/s. J. Jain & Co. as Statutory Auditors for a second four-year term starting FY 2026-27.
Key Highlights
Revenue from operations decreased by 20.5% YoY to ₹67.45 crore for the full year ended March 31, 2026.
Other income fell sharply to ₹1.10 crore from ₹79.03 crore in FY25, which had been boosted by arbitration awards.
Company is finalizing a ₹21 crore resolution plan settlement subject to account upgradation from NPA status.
Unbilled revenue remains significant at ₹10.99 crore, though down from ₹21.33 crore in the previous year.
M/s. J. Jain & Co. re-appointed as Statutory Auditors for a four-year term until FY 2029-30.
👀 What to Watch
Investors should closely monitor the company's progress in exiting NPA status through the resolution plan and its ability to stabilize core operational revenue. The significant reduction in unbilled revenue and arbitration-linked income suggests a transition phase that requires cautious observation.
TICL FY26 Revenue Falls to ₹67.45 Cr; Board Approves Auditor Re-appointments
Twamev Construction and Infrastructure Limited (TICL) reported a decline in revenue from operations to ₹67.45 crore for FY26, compared to ₹84.86 crore in the previous year. Other income saw a significant drop to ₹1.10 crore from ₹79.03 crore, as the prior year benefited from one-time arbitration interest. The company is currently in the process of settling a ₹21 crore resolution plan as per NCLT orders. Additionally, the board has re-appointed internal, cost, and statutory auditors for the upcoming financial periods.
Key Highlights
Revenue from operations decreased by 20.5% YoY to ₹67.45 crore for the year ended March 31, 2026.
Other income plummeted to ₹1.10 crore from ₹79.03 crore due to the absence of prior-year arbitration gains.
The company is settling a ₹21 crore resolution plan following an NCLT Kolkata order dated July 14, 2024.
Auditors highlighted ₹10.99 crore in unbilled revenue and ₹0.32 crore in unaccounted rental income for an RMC plant.
M/s J. Jain & Co. re-appointed as Statutory Auditors for a four-year term through FY 2029-30.
👀 What to Watch
Investors should exercise caution given the declining revenue and the company's ongoing resolution and reconciliation processes. Monitor the successful completion of the NCLT settlement and the recovery of unbilled revenues.
TICL FY26 Revenue Drops 20% to ₹67.45 Cr; Auditor Re-appointed for 4-Year Term
Twamev Construction and Infrastructure Limited (TICL) reported a decline in revenue from operations to ₹67.45 crore for FY26, down from ₹84.86 crore in FY25. Other income fell sharply to ₹1.10 crore from ₹79.03 crore, as the previous year benefited from a large one-time arbitration award. The company is currently settling a ₹21 crore resolution plan following an NCLT order. Auditors also noted a ₹32 lakh understatement of profit due to missing rental income entries for an RMC plant.
Key Highlights
Revenue from operations fell to ₹67.45 crore in FY26 from ₹84.86 crore in FY25.
Other income saw a significant drop to ₹1.10 crore from ₹79.03 crore YoY due to absence of arbitration gains.
Company is finalizing a ₹21 crore resolution plan settlement as per NCLT Kolkata order dated July 2024.
Auditors flagged an understatement of profit by ₹32 lakh related to RMC plant rental income in Guwahati.
M/s J. Jain & Co. re-appointed as Statutory Auditor for a second term of four years until FY 2029-30.
👀 What to Watch
Investors should exercise caution as core revenue is shrinking and previous profits were heavily supported by one-time arbitration awards. Monitor the successful completion of the resolution plan and the impact of the CIRP process on its associate company.
TICL Reports FY26 Revenue of ₹67.45 Cr; Other Income Drops Significantly
Twamev Construction and Infrastructure Limited (TICL) reported a decline in annual revenue from operations to ₹6,745 Lakh for FY26, down from ₹8,486 Lakh in FY25. Other income saw a massive reduction to ₹110 Lakh from ₹7,903 Lakh, as the previous year was bolstered by interest on arbitration awards. The company is currently in the process of a ₹2,100 Lakh resolution plan settlement following NCLT orders. Auditors have highlighted an understatement of profit by ₹32 Lakh due to unrecorded rental income and noted ongoing reconciliations for trade receivables.
Key Highlights
Revenue from operations fell 20.5% YoY to ₹67.45 crore for the financial year ended March 31, 2026.
Other income plummeted from ₹79.03 crore in FY25 to just ₹1.10 crore in FY26.
Unbilled revenue decreased to ₹10.99 crore compared to ₹21.33 crore in the previous year.
Company is settling a ₹21 crore resolution plan amount to upgrade its status from NPA as per NCLT Kolkata orders.
Board approved the re-appointment of Internal and Cost Auditors and a second 4-year term for Statutory Auditor J. Jain & Co.
👀 What to Watch
Investors should exercise caution given the sharp decline in both core revenue and other income, alongside audit observations regarding unrecorded income. The primary watchpoint is the successful execution of the resolution plan and the subsequent upgradation of the company's account from NPA status.
TICL Reports FY26 Revenue of ₹67.45 Cr; Settles ₹21 Cr Resolution Plan
Twamev Construction and Infrastructure Limited (TICL) reported a decline in revenue from operations to ₹67.45 crore for FY26, compared to ₹84.86 crore in FY25. Other income saw a massive drop from ₹79.03 crore to ₹1.10 crore, as the previous year was inflated by one-time arbitration award interests. The company is currently executing a ₹21 crore resolution plan settlement as per NCLT orders. Auditors have raised concerns regarding a subsidiary under insolvency and noted that current profits are understated by ₹32 lakh due to unaccounted rental income.
Key Highlights
Revenue from operations fell 20.5% YoY to ₹67.45 crore in FY26.
Other income plummeted to ₹1.10 crore from ₹79.03 crore in the previous year.
Company is in the process of settling a ₹21 crore resolution plan following an NCLT order.
Subsidiary Tantia Sanjauliparkings Private Limited is currently under CIRP (Insolvency) and excluded from consolidation.
Auditor noted unbilled revenue of ₹10.99 crore and a profit understatement of ₹32 lakh for the fiscal year.
👀 What to Watch
Investors should exercise caution given the sharp decline in revenue and the absence of high arbitration-linked other income seen in previous periods. Monitor the successful closure of the NCLT resolution plan and the recovery of unbilled revenues.
TICL Reports FY26 Revenue of ₹67.45 Cr; Significant Decline in Revenue and Other Income
Twamev Construction and Infrastructure Limited (formerly Tantia Constructions) reported a decline in annual revenue to ₹67.45 crore for FY26, down from ₹84.86 crore in FY25. Other income saw a massive drop to ₹1.10 crore from ₹79.03 crore, as the previous year benefited from a one-time arbitration award. The company is currently executing a ₹21 crore resolution plan under NCLT mandates. Auditors have raised several points of emphasis, including unbilled revenue of ₹10.99 crore and unaccounted rental income that understated profits by ₹32 lakh.
Key Highlights
Annual revenue from operations fell by 20.5% year-on-year to ₹67.45 crore.
Other income plummeted from ₹79.03 crore to ₹1.10 crore due to the absence of prior-year arbitration interest.
Company is in the process of a ₹21 crore final settlement as per the NCLT Kolkata order dated July 2024.
Auditors noted that standalone profit is understated by ₹32 lakh due to unaccounted rental income from a Guwahati plant.
Unbilled revenue stands at ₹10.99 crore, representing a significant portion of the total annual turnover.
👀 What to Watch
Investors should exercise caution as the company is still navigating a post-insolvency resolution phase and core operational revenue is shrinking. The significant drop in 'Other Income' and auditor concerns regarding unbilled revenue and reconciliations suggest high financial volatility.
TICL Bags ₹19.05 Crore Order from SAIL for Re-building Employees Quarter at Burnpur
Twamev Construction and Infrastructure Limited (TICL) has received a Letter of Acceptance from Steel Authority of India Limited (SAIL) for a construction project at the IISCO Steel Plant. The contract, valued at approximately ₹19.05 crore, involves the re-building of employees' quarters at the ISP Township in Burnpur. The project has a strict execution timeline of 12 months from the effective date. This order win strengthens the company's order book and demonstrates its capability to secure contracts from major Public Sector Undertakings (PSUs).
Key Highlights
Total contract value is ₹19,04,65,887.63 including GST
Project involves re-building of Employees Quarter at ISP Township, Phase-1 of SAIL-ISP Burnpur
Execution period is 12 months from the effective date of contract
Security Deposit of ₹95.23 lakh (5% of contract value) is required to be submitted within 20 days
Contract was secured through a competitive bidding process including a Reverse Auction held on May 15, 2026
👀 What to Watch
Investors should view this as a positive development for revenue visibility over the next fiscal year. Monitor the company's ability to execute within the 12-month deadline to ensure margin protection.
TICL Secures ₹19.05 Cr Order from SAIL for ISP Burnpur Township Project
Twamev Construction and Infrastructure Limited (TICL) has received a Letter of Acceptance from SAIL-ISP Burnpur for a residential construction project. The contract is valued at approximately ₹19.05 crore, including GST, for rebuilding employees' quarters. The project has a defined execution timeline of 12 months, providing short-term revenue visibility. This win from a major PSU like SAIL strengthens the company's order book and credentials in the infrastructure space.
Key Highlights
Total contract value is ₹19,04,65,887.63 (approx. ₹19.05 Crore) including GST.
Project involves rebuilding employees' quarters at ISP Township, Phase-1 for SAIL-IISCO Steel Plant.
The entire job is scheduled to be completed within a 12-month timeframe.
Company is required to submit a Security Deposit of ₹95.23 lakh, representing 5% of the contract value.
The contract was secured through a competitive bidding process including a reverse auction held on May 15, 2026.
👀 What to Watch
Investors should view this as a positive development that adds to the company's revenue pipeline for the upcoming fiscal year. Monitor the company's execution progress and margin maintenance on this PSU-led contract.
