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Capacit'e Infraprojects Limited (CAPACITE)

₹172.97 +1.03% last close, 16 Oct

📊 NSE: CAPACITE 🏢 Construction 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Capacit'e Infraprojects' revenue was ₹629 Cr (+6.7% year on year, -11.7% on the previous quarter), and net profit ₹39.8 Cr (-15.2% year on year); the operating margin was 15.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹629	+6.7%	-11.7%
Operating profit	₹98.7	-2.9%	-9.5%
Net profit	₹39.8	-15.2%	-11.5%
EPS (₹)	4.71	-15.1%	-14.7%
Operating margin	15.7%	—	—

Full quarterly financials → Results calendar →

CAPACITE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 45.92% of the CAPACITE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 49.19%. That is close to its usual level. Volume was 0.5 times its average, well below normal.

45.92%Delivery, 16 Oct

49.19%Own 20-session average

0.5×Volume vs its average

₹172.97NSE close · +1.03%

Delivery in the last 5 sessions: 46.2% · 47.9% · 31.7% · 61.1% · 45.9%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Capacit'e Infra Secures ₹368.98 Cr LOA from Chennai Metro Rail

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 06 Oct 2026, 01:42 PM

Capacit'e Infraprojects has received a Letter of Acceptance (LOA) valued at approximately ₹368.98 crore (excluding GST) from Chennai Metro Rail Limited. The contract covers civil, architectural, plumbing, MEP, and VAC works for buildings near Thirumangalam Metro Station along the viaduct. The order represents roughly 13.9% of the company's TTM revenue of ₹2,662 crore and 23.9% of its ₹1,546 crore market capitalization. This win supports order book accretion and deepens the firm's presence in public sector urban transport infrastructure.

Received Letter of Acceptance worth ~₹368.98 crore excluding GST
Client is Chennai Metro Rail Limited for works near Thirumangalam Metro Station
Scope spans civil construction, architectural finishes, plumbing, E&M, VAC, and lifts
Contract value represents approximately 13.9% of TTM revenue (₹2,662 crore)

💡 Track mobilization status, project completion timeline disclosures, and working capital cycles in upcoming quarterly filings.

Capacit'e Infraprojects Appoints 4 CEOs Across Business Units in Leadership Reorganisation

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 09 Sep 2026, 06:31 PM

Capacit'e Infraprojects has restructured its executive leadership by appointing four Chief Executive Officers across separate Business Units effective September 9, 2026. The new appointees include Amit Govil (BU 1, 33+ years experience), Rakesh Kumar Singh (BU 2, 23+ years experience), Dr. Vishnudas Shanbhag (BU 3, 30+ years experience), and Ram Mohan Rai (BU 4, 26+ years experience). The restructuring aims to decentralize operations as the company manages a trailing 12-month revenue of ₹2,662 crore and an active order backlog. None of the newly designated senior management personnel have relationships with existing directors.

Board approved elevation and appointment of 4 Business Unit CEOs on September 9, 2026
Mr. Amit Govil elevated to CEO – Business Unit 1 with over 33 years of construction experience
Mr. Rakesh Kumar Singh elevated to CEO – Business Unit 2 bringing over 23 years of industry experience
Dr. Vishnudas Shanbhag elevated to CEO – Business Unit 3 with over 30 years of domain experience
Mr. Ram Mohan Rai appointed as CEO – Business Unit 4 with over 26 years of construction experience

💡 Monitor upcoming quarterly execution run-rates and operational margin delivery under the new business unit structure.

Capacit'e Wins ~₹741 Cr LOI from Mahindra Lifespaces for Mumbai Residential Projects

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 27 Aug 2026, 11:21 AM

Capacit'e Infraprojects Limited has secured a Letter of Intent (LOI) worth ~₹741 Crore (excluding GST) from Mahindra Lifespace Developers Limited. The contract covers Core and Shell construction work for two premium residential developments in Mumbai: Mahindra Rainforest at Kanjurmarg and Mahindra Beacon Hill at Mahalaxmi. The order size represents ~27.8% of Capacit'e's TTM revenue of ₹2,662 Crore, significantly strengthening its order book visibility with a marquee private sector client.

Received Letter of Intent (LOI) valued at ~₹741 Crore (excluding GST)
Client is Mahindra Lifespace Developers Limited, a marquee private real estate developer
Scope covers Core and Shell construction for Mahindra Rainforest (Kanjurmarg) and Mahindra Beacon Hill (Mahalaxmi)
Contract represents ~27.8% of the company's TTM revenue (₹2,662 Cr)

💡 Track the conversion of the LOI into formal executed contracts, project milestone timelines, and the commencement of revenue recognition in upcoming quarters.

Capacit'e Infra CEO & Director-Operations Rajendra K Jain Resigns Effective August 18, 2026

🔴 NEGATIVE ⭐ 7/10

MANAGEMENT 📅 18 Aug 2026, 10:35 PM

Capacit'e Infraprojects has announced that Mr. Rajendra K Jain has tendered his resignation as Director - Operation & CEO, effective close of working hours on August 18, 2026. Following this, Mr. Jain ceases to be part of the company's Senior Management Personnel. The departure represents a key leadership vacancy for a construction EPC firm overseeing a TTM revenue base of ₹2,662 Cr and substantial ongoing project executions.

Resignation of Mr. Rajendra K Jain from the post of Director - Operation & CEO
Cessation as Senior Management Personnel effective close of working hours on August 18, 2026
No immediate announcement of a successor or interim operational leadership in the filing
Company currently manages annual operations of ₹2,622 Cr (FY26 revenue)

💡 Track subsequent exchange filings for the appointment of a new CEO/COO and management commentary on operational continuity across active project sites.

Capacit'e Infra CEO & Director-Operations Rajendra K Jain Resigns w.e.f. Aug 18, 2026

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 18 Aug 2026, 10:26 PM

Capacit'e Infraprojects Limited announced that Mr. Rajendra K Jain has tendered his resignation as Director - Operation & CEO, effective from the close of business hours on August 18, 2026. Consequently, Mr. Jain also ceases to be part of the Senior Management Personnel (SMP) of the company. With TTM revenue at ₹2,662 Cr and project execution critical to maintaining operational momentum, senior management transitions in operations warrant close monitoring. The filing does not immediately disclose an interim or permanent successor.

Resignation of Mr. Rajendra K Jain as Director - Operation & CEO
Cessation as Senior Management Personnel effective closing hours of August 18, 2026
Company manages operations generating ₹2,662 Cr in TTM revenue

💡 Track subsequent exchange disclosures regarding successor appointment for the CEO/Operations lead, and monitor project execution progress in upcoming quarterly earnings.

Rs 13,535 Cr Order Book; Capacit'e Targets Zero Promoter Pledge by FY27 End

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 04:15 PM

Capacit'e Infraprojects reported Q1 FY27 revenue of Rs 629 Cr, up 7% YoY, while PAT declined 15% to Rs 40 Cr due to a Rs 10 Cr commodity price provision. The company maintains a massive order book of Rs 13,535 Cr (5.16x TTM revenue), with 55% from the public sector. Management expects a significant execution ramp-up in H2 FY27, targeting quarterly revenues above Rs 850 Cr to meet its 20% annual growth guidance. Notably, promoter pledges were reduced from 85.5 lakh to 50 lakh shares, with a target to reach zero by March 2027.

Order book stands at Rs 13,535 Cr as of June 30, 2026, providing high revenue visibility.
Promoter share pledge reduced to 50 lakh shares from 85.5 lakh shares in March 2026.
FY27 order inflow target set at Rs 4,500 Cr to Rs 5,000 Cr, with Rs 1,071 Cr achieved YTD.
Rs 10 Cr additional provision taken in Q1 for non-ferrous metal price volatility.
Execution of the Rs 550 Cr IIT Bombay project delayed to Q2 FY27 due to tree-cutting permissions.

💡 Monitor the execution ramp-up in Q3 and Q4 FY27 to see if the company achieves the guided Rs 850 Cr+ quarterly revenue run rate. Watch for the full release of promoter pledges by year-end as a key governance milestone.

Q1 FY27 Earnings Call Audio Recording Released by Capacite Infraprojects

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Aug 2026, 06:26 PM

Capacit'e Infraprojects has released the audio recording of its earnings call held on August 10, 2026, regarding its Q1 FY27 performance. The company currently maintains a TTM revenue of ‑2,622 Cr and a PAT of ‑193 Cr, supported by a robust order book of ‑3,464 Cr as of H1 FY26. The call provides qualitative insights into the execution of high-margin super high-rise projects and management's strategy to achieve a 25% expected growth rate. This disclosure is a standard regulatory requirement following the quarterly results announcement.

Earnings call conducted on August 10, 2026, for the quarter ended June 30, 2026
Company maintains a TTM revenue base of ‑2,622 Cr with a 16.3% OPM
Order book visibility remains strong with ‑3,464 Cr in new bookings reported in H1 FY26
Interest Coverage Ratio showed improvement to 5.60x in FY25 from 4.63x in FY24

💡 Investors should listen to the recording to understand management's commentary on working capital cycles and the execution timeline for major projects with CIDCO and MCGM.

₹13,532 Cr Order Book: Capacit'e Q1 FY27 Revenue Grows 7% Amid Execution Headwinds

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 02:10 PM

Capacit'e Infraprojects reported a 7% YoY revenue growth to ₹628.9 Cr for Q1 FY27, though PAT declined 15% to ₹39.8 Cr. Profitability was impacted by a ₹10 Cr provision for commodity price volatility and execution delays caused by a temporary labor shortage and a BMC-mandated water supply suspension in Mumbai starting June 17, 2026. The company maintains a massive order book of ₹13,532 Cr, providing 5.1x revenue visibility, and has secured ₹1,071 Cr in new orders YTD. Management is targeting ₹4,500-5,000 Cr in total inflows for FY27 and aims to surpass ₹4,000 Cr in annual revenue by FY28.

Order book stands at ₹13,532 Cr as of June 30, 2026, representing 5.1x TTM revenue visibility.
PAT decreased 15% YoY to ₹39.8 Cr, impacted by a ₹10 Cr additional provision for commodity price volatility.
Secured ₹1,071 Cr in new orders during FY27 YTD against a full-year target of ₹4,500-5,000 Cr.
Realized ₹6.5 Cr from non-core asset sales in Q1, with a full-year monetization target of ₹50 Cr.
Net Debt to Equity ratio remains healthy at 0.16x, though slightly up from 0.11x in March 2026.

💡 Monitor the recovery in execution pace in the Mumbai region following the water supply issues and track the achievement of the ₹4,500 Cr+ annual order inflow target.

₹13,535 Cr Order Book Highlights Capacit'e Q1 FY27; Revenue Up 7%, PAT Down 15%

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 02:06 PM

Capacit'e Infraprojects reported a 7% YoY revenue growth to ₹629 Cr for Q1 FY27, though net profit (PAT) declined 15% to ₹40 Cr. Profitability was impacted by a 150 bps contraction in EBITDA margins to 15.7%, attributed to workmen shortages and water supply restrictions in Mumbai. Despite the earnings dip, the company maintains a massive standalone order book of ₹13,535 Cr, providing revenue visibility for over 5 years. Management expects execution to normalize in the coming quarters as operational hurdles subside.

Revenue from operations grew 7% YoY to ₹629 Cr compared to ₹589 Cr in Q1 FY26.
PAT declined 15% YoY to ₹40 Cr, with PAT margins dropping to 6.2% from 7.8%.
Standalone order book remains robust at ₹13,535 Cr, with 55% from the public sector.
YTD order booking for FY27 stands at ₹1,071 Cr.
Gross Debt stood at ₹522 Cr with a healthy Net Debt to Equity ratio of 0.16x.

💡 Investors should monitor the pace of execution in Q2 and Q3 to see if the labor and water supply issues mentioned by management are fully resolved. The key focus remains the conversion of the massive ₹13,535 Cr order book into billable revenue.

Q1 PAT falls 12.7% YoY to ₹39.6 Cr; Revenue grows 6.7% to ₹628.9 Cr

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 01:21 PM

Capacit'e Infraprojects reported a consolidated revenue of ₹628.93 Cr for Q1 FY27, representing a 6.7% YoY growth from ₹589.36 Cr. However, consolidated Net Profit declined by 12.7% YoY to ₹39.60 Cr, down from ₹45.34 Cr in Q1 FY26. Sequentially, performance was weaker with revenue and PAT falling 11.6% and 14.3% respectively from Q4 FY26. The results are further clouded by a persistent auditor qualification regarding the recoverability of ₹11.56 Cr from a party under insolvency proceedings.

Consolidated Revenue increased 6.7% YoY to ₹628.93 Cr, though it declined 11.6% sequentially.
Consolidated Net Profit dropped 12.7% YoY to ₹39.60 Cr, impacted by higher finance and depreciation costs.
Auditors issued a qualified conclusion regarding ₹11.56 Cr in trade receivables from a party in insolvency (CIRP).
Management is pursuing legal action for long-outstanding receivables and contract assets totaling ₹54.93 Cr.
Standalone finance costs rose to ₹27.57 Cr from ₹23.83 Cr in the year-ago quarter.

💡 Investors should monitor the resolution of the ₹11.56 Cr qualified receivable and the progress of legal actions for the ₹54.93 Cr outstanding assets. The focus should remain on whether the company can recover margins in upcoming quarters to meet its 25% growth guidance.

Capacit'e Infraprojects Schedules Q1 FY27 Earnings Call for August 10, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Aug 2026, 07:47 PM

Capacit'e Infraprojects has scheduled its earnings conference call for Monday, August 10, 2026, at 2:00 PM IST to discuss Q1 FY27 results. The call will be led by top management, including Executive Chairman Rohit Katyal and CFO Rajesh Das. This follows a fiscal year (FY26) where the company achieved a revenue of ‑2,622 Cr and maintained an operating margin of 16.3%. Investors will be looking for updates on the execution of the ‑3,464 Cr order book reported in H1 FY26.

Earnings call scheduled for August 10, 2026, at 14:00 Hrs IST to discuss Q1 FY27 performance.
Management representation includes the Executive Chairman, CFO, and two Executive Directors (Finance and Accounts).
The company reported a TTM revenue of ‑2,622 Cr and TTM PAT of ‑193 Cr leading into this quarter.
Order book visibility remains high with ‑3,464 Cr in new bookings achieved in H1 FY26.

💡 Monitor the post-call transcript for management guidance on the 25% expected growth rate and updates on the monetization of receivables to manage working capital intensity.

14th AGM Results: Shareholders Approve All 6 Resolutions Including Object Clause Alteration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jul 2026, 03:10 PM

Capacit'e Infraprojects concluded its 14th Annual General Meeting on July 24, 2026, with all six proposed resolutions passed by the requisite majority. Key approvals included the adoption of FY26 financial statements and the re-appointment of Mr. Rahul Katyal and Mr. Subir Malhotra to the board. A special resolution to alter the Object Clause of the Memorandum of Association was passed with 99.94% support. Institutional participation was moderate at 56.76%, while retail participation remained very low at 0.13%.

6 resolutions were passed with requisite majority during the 14th AGM held on July 24, 2026
99.94% of total votes cast were in favor of the special resolution to alter the Object Clause of the Memorandum of Association
56.76% of institutional shares were polled for the re-appointment of directors and other key resolutions
64,780 shareholders were on record as of the July 17, 2026, cut-off date
98.21% of total votes were in favor of adopting the Audited Standalone and Consolidated Financial Statements for FY26

💡 Investors should monitor subsequent filings for specific details regarding the 'Object Clause' alteration to see if the company plans to diversify into new business segments beyond its core construction focus.

Capacit'e Infraprojects Concludes 14th AGM; Proposes MoA Object Clause Alteration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Jul 2026, 06:36 PM

Capacit'e Infraprojects held its 14th Annual General Meeting on July 24, 2026, with a quorum of 34 members representing 27.81% of the share capital. Shareholders voted on six resolutions, including the adoption of FY26 financial statements and the re-appointment of Managing Director Rahul Katyal. A significant special resolution was proposed to alter the Object Clause of the Memorandum of Association, which may indicate future business diversification. Management noted that while the Statutory Audit Report contained qualifications, they do not have a material adverse effect on the company's functioning.

Quorum consisted of 34 members holding 2,35,24,413 shares, representing 27.81% of total share capital
Proposed a Special Resolution for the alteration of the Object Clause of the Memorandum of Association
Re-appointment of Mr. Rahul Ramnath Katyal (MD & CEO) as a Director liable to retire by rotation
Remote e-voting was conducted from July 20 to July 23, 2026, based on a July 17 cut-off date
Statutory Audit Report for FY26 included qualifications, though management stated no material adverse effect exists

💡 Investors should review the Scrutinizer's Report once released to confirm the passing of resolutions and specifically look for details on the 'Alteration of Object Clause' to understand any planned business pivots.

₹482 Cr Order Win from Twenty-Five Downtown Realty for Mumbai Super High-Rise Project

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 14 Jul 2026, 06:57 PM

Capacit'e Infraprojects has secured a significant work order worth ~₹482 crore (excluding taxes) for the construction of Tower T5 in Mahalaxmi, Mumbai. This order represents approximately 18.4% of the company's TTM revenue of ₹2,622 crore, providing substantial revenue visibility. The project involves civil works and finishes for a super high-rise structure including basements, podiums, and penthouses. This is a repeat order from Twenty-Five Downtown Realty Limited, reinforcing the company's position as a preferred partner for complex high-rise developments.

Secured a work order valued at ~₹482 Crore excluding taxes and cess.
Order value represents ~18.4% of the company's TTM revenue of ₹2,622 Crore.
Project involves construction of Tower T5 at Mahalaxmi, Mumbai, categorized as a Super High-Rise.
Repeat order from Twenty-Five Downtown Realty Limited, validating client retention strategy.
Scope includes basements, podiums, clubhouse, service floors, penthouses, and terrace levels.

💡 Investors should monitor the execution timeline and the impact on quarterly revenue recognition starting from the next few quarters, while watching for any working capital pressure typical of large-scale Mumbai projects.

Capacit'e Infraprojects Reports 100% Dematerialized Shares for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 09 Jul 2026, 05:56 PM

Capacit'e Infraprojects Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, KFin Technologies Limited, confirmed that all shares were held in dematerialized form as of June 30, 2026. Additionally, the company reported that no requests for rematerialization of shares were received during the April-June 2026 quarter. This is a standard administrative filing with no impact on business operations or financial health.

Confirmation provided for the quarter ended June 30, 2026
100% of the company's shares are held in dematerialized form
Zero requests for rematerialization were received during the reporting period
Certificate issued by Registrar and Share Transfer Agent, KFin Technologies Limited

💡 This is a routine regulatory filing. Investors should monitor the company's upcoming quarterly financial results for material updates on order book execution and revenue growth.

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💰 Financial Performance

Revenue Growth by Segment

Total Operating Income grew 21.6% YoY from INR 1,931.64 Cr in FY24 to INR 2,349.51 Cr in FY25. The company focuses solely on building construction, executing projects across residential, commercial, and institutional spaces.

Geographic Revenue Split

Operations are concentrated in major Indian metropolitan regions including Mumbai (MMR), Delhi (NCR), Bengaluru, Pune, Varanasi, Chennai, and Hyderabad. Specific percentage split per region is not disclosed.

Profitability Margins

Net Profit Margin improved from 6.00% in FY24 to 8.26% in FY25, representing a 226 bps increase. Return on Net Worth grew from 7.55% to 10.67% (+312 bps) over the same period.

EBITDA Margin

EBITDA Margin was 19.49% in FY25 compared to 18.75% in FY24, a YoY improvement of 74 bps. Core profitability is driven by a conscious focus on high-margin super high-rise projects.

Capital Expenditure

Property, Plant and Equipment stood at INR 588.80 Cr as of September 30, 2025, with Capital Work-in-Progress at INR 10.38 Cr. The company plans to monetize non-core assets of approximately INR 65 Cr during FY26.

Credit Rating & Borrowing

Infomerics Ratings upgraded long-term and short-term ratings in FY25. Average utilization of fund-based limits is 81.31% and non-fund-based limits is 76.50% as of June 2025.

⚙️ Operational Drivers

Raw Materials

Key materials include steel, cement, and advanced formwork systems. While specific cost percentages are not disclosed, most projects include cost escalation clauses to mitigate price volatility.

Import Sources

Not disclosed in available documents; however, operations are centered in major Indian metros suggesting domestic sourcing.

Capacity Expansion

The company has constructed over 70 million square feet to date. Current project pipeline visibility is high with INR 3,464 Cr in new bookings achieved in H1 FY26 alone.

Raw Material Costs

Raw material costs are managed through selective client onboarding and cost escalation clauses. The company uses modern technology in formworks to manage complex structures efficiently.

Manufacturing Efficiency

Interest Coverage Ratio improved 20.9% from 4.63x in FY24 to 5.60x in FY25. The company holds a Limca Book of Records entry for the fastest construction of a hospital.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth is driven by a robust order book of INR 3,464 Cr in H1 FY26, focus on high-margin super high-rise buildings (top 3 ranking in India), and repeat orders from marquee clients like CIDCO, MCGM, and MHADA. The company is also monetizing INR 65 Cr of non-core assets to strengthen liquidity.

Products & Services

EPC contracting services for high-rise and super high-rise residential, commercial, and institutional buildings, including MEP, finishing, and interior services.

Brand Portfolio

Capacit'e

New Products/Services

Expansion into specialized segments like data centers, hospitals, and super high-rise towers (e.g., a 320-meter tower project).

Market Expansion

Expansion within existing core metros (MMR, NCR, Bengaluru) and increasing presence in public sector projects (CIDCO, MCGM).

Market Share & Ranking

Ranked among the top three companies in India for super high-rise building construction.

Strategic Alliances

Joint ventures include Tata Projects (for a 320m super high-rise), CIL MMEPL EKATHA, and SCC-Capacit'e (V) JV formed in July 2025.

🌍 External Factors

Industry Trends

The industry is shifting toward high-rise and super high-rise urban developments and specialized institutional infrastructure like data centers and hospitals.

Competitive Landscape

Competes with larger EPC players like Tata Projects and Ahluwalia, but maintains higher margins through specialized project selection.

Competitive Moat

Sustainable moat through technical expertise in super high-rise construction (300m+), which has high barriers to entry and allows for higher margins than standard EPC players.

Macro Economic Sensitivity

Highly sensitive to the Indian real estate cycle and government infrastructure spending. GDP growth directly impacts demand for commercial and residential spaces.

Consumer Behavior

Increasing demand for high-end gated communities and specialized healthcare/institutional facilities.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Companies Act 2013, SEBI (LODR) Regulations, and Indian Accounting Standards (Ind AS).

Environmental Compliance

The company emphasizes environmental responsibility and excellence in project delivery as part of its corporate overview.

Taxation Policy Impact

Consolidated Profit Before Tax for H1 FY26 was INR 131.94 Cr. Standard corporate tax rates apply.

Legal Contingencies

The company is involved in ongoing legal proceedings and settlements to recover old dues from the 2020-2023 period. A qualified opinion was issued by auditors for the standalone financial statements in FY25.