GTL Infrastructure Limited (GTLINFRA)
₹1.04 +0.97% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, GTL Infrastructure's revenue was ₹327 Cr (-2.2% year on year, -0.9% on the previous quarter), and net profit ₹69.4 Cr (against a loss a year earlier); the operating margin was 43.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹327 | -2.2% | -0.9% |
| Operating profit | ₹143 | +78.8% | +186.9% |
| Net profit | ₹69.4 | from loss | -94.1% |
| EPS (₹) | 0.05 | from loss | -94.5% |
| Operating margin | 43.6% | — | — |
GTLINFRA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 37.56% of the GTLINFRA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.85%. That is close to its usual level.
Delivery in the last 5 sessions: 58.0% · 27.8% · 28.8% · 45.4% · 37.6%
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
GTL Infrastructure Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended September 30, 2026. The certificate was issued by Bigshare Services Private Limited, the company's Registrar and Share Transfer Agent, on October 12, 2026. It confirms that securities received for dematerialization were processed, mutilated, and cancelled within 15 days of receipt. This is a mandatory procedural filing with no operational or financial implications.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- RTA Bigshare Services Private Limited issued confirmation dated October 12, 2026
- Securities processed and confirmed to depositories within 15 days of receipt
GTL Infrastructure Limited announced the conclusion and voting results of its 23rd Annual General Meeting held on September 30, 2026. All five ordinary and special resolutions were passed with over 99.7% of votes cast in favour, representing 1,075,482,047 total votes polled (8.40% of outstanding capital). Approved items included the adoption of FY2025-26 audited financials, re-appointment of director Charudatta Naik, appointment of Abhijit Deshpande, and the appointment of Jayant Bhimanwar as Whole-time Director for 3 years starting August 6, 2026. Out of 27,13,187 shareholders on record date, turnout remained modest at 8.40% overall and 1.56% among non-institutional public holders.
- All resolutions passed with >99.7% votes in favour out of 1,07,54,82,047 votes polled
- Overall voter turnout stood at 8.3962% across 12,80,91,11,895 total shares
- Total registered shareholder count was 27,13,187 as on record date September 23, 2026
- Jayant Bhimanwar appointed Whole-time Director for a period of 3 years effective August 6, 2026
GTL Infrastructure Limited announced the conclusion and voting results of its 23rd Annual General Meeting held on September 30, 2026. All five ordinary and special resolutions were passed with over 99.7% of votes cast in favour, representing 1,075,482,047 total votes polled (8.40% of outstanding capital). Approved items included the adoption of FY2025-26 audited financials, re-appointment of director Charudatta Naik, appointment of Abhijit Deshpande, and the appointment of Jayant Bhimanwar as Whole-time Director for 3 years starting August 6, 2026. Out of 27,13,187 shareholders on record date, turnout remained modest at 8.40% overall and 1.56% among non-institutional public holders.
- All resolutions passed with >99.7% votes in favour out of 1,07,54,82,047 votes polled
- Overall voter turnout stood at 8.3962% across 12,80,91,11,895 total shares
- Total registered shareholder count was 27,13,187 as on record date September 23, 2026
- Jayant Bhimanwar appointed Whole-time Director for a period of 3 years effective August 6, 2026
GTL Infrastructure Limited has issued a compliance intimation under Regulation 36(1)(b) of SEBI Listing Regulations providing the web-link for its 23rd Annual Report for FY2025-26. The notification is directed to shareholders whose email addresses are not registered with the company or depositories. The company's 23rd Annual General Meeting is scheduled to be conducted via Video Conferencing on September 30, 2026, at 11:00 AM IST. This is a standard statutory communication with no direct operational or financial impact.
- 23rd Annual General Meeting scheduled for Wednesday, September 30, 2026, at 11:00 AM IST via VC/OAVM
- Annual Report web-link dispatched to shareholders without registered email addresses under SEBI Reg 36(1)(b)
- Communication letter to shareholders dated September 08, 2026
- Shareholders advised to submit KYC details per SEBI Master Circular dated May 07, 2024
GTL Infrastructure Limited has issued the notice for its 23rd Annual General Meeting scheduled for September 30, 2026, to be held via video conferencing. Ordinary business includes adopting FY26 audited accounts and the re-appointment of retiring director Mr. Charudatta K. Naik. Special business items seek shareholder approval for the appointment of Mr. Jayant Laxmikant Bhimanwar as Whole-time Director for three years from August 6, 2026, and Mr. Abhijit Padmanabh Deshpande as Non-Executive Director. The company remains severely leveraged with debt of Rs 5,898 crore and negative net worth of Rs -5,215 crore.
- 23rd Annual General Meeting scheduled on Wednesday, September 30, 2026, at 11:00 AM IST via VC/OAVM
- Appointment of Mr. Jayant L. Bhimanwar as Whole-time Director for a period of 3 years effective August 6, 2026
- Re-appointment of retiring director Mr. Charudatta K. Naik, holding 13,25,900 equity shares
- Appointment of Mr. Abhijit P. Deshpande as Non-Executive / Non-Independent Director
- Company provides remote e-voting facility through CDSL for a 4-day period prior to the meeting
GTL Infrastructure Limited has informed the exchanges that it paid a fine of ₹5,900 each to the NSE and BSE (totaling ₹11,800) for a one-day delay in filing its Related Party Transaction report under Regulation 23(9). The fine was paid on July 14, 2026, following notices received on June 30, 2026. The Board of Directors reviewed the matter on August 6, 2026, noting the delay was inadvertent and advising officials to ensure future compliance. Given the company's significant debt of ₹5,898 Cr, this financial penalty is immaterial.
- Fine of ₹5,900 (inclusive of GST) paid to both NSE and BSE.
- Delay of 1 day in filing the Report under Regulation 23(9) of Listing Regulations.
- Payment of the fine was completed on July 14, 2026.
- Board of Directors formally took note of the lapse in a meeting on August 6, 2026.
GTL Infrastructure Limited has paid a total fine of ₹11,800 (₹5,900 each to NSE and BSE) for a one-day delay in filing its Related Party Transaction report under Regulation 23(9). The payment was made on July 14, 2026, following notices received from the exchanges on June 30, 2026. The Board of Directors reviewed the matter on August 6, 2026, and attributed the delay to an inadvertent error. While the financial impact is negligible compared to the company's ₹5,898 Cr debt, it represents a minor compliance lapse.
- Fine of ₹5,900 (inclusive of GST) paid to each of the two stock exchanges (NSE and BSE)
- Delay of exactly 1 day in filing the report under Regulation 23(9) of Listing Regulations
- Payment of the fine was completed on July 14, 2026
- Board of Directors formally noted the lapse and advised officials on August 6, 2026
GTL Infrastructure has appointed two new directors to its board effective August 6, 2026. Mr. Jayant Bhimanwar, a company veteran with 18 years of experience within the firm, has been appointed as a Whole-time Director for a three-year term. Mr. Abhijit Deshpande, who brings 41 years of experience across telecom and power sectors, joins as a Non-Executive, Non-Independent Director. These appointments occur while the company faces severe financial distress, including a debt of ₹5,898 Cr and a negative net worth of ₹-5,215 Cr.
- Mr. Jayant Bhimanwar appointed as Whole-time Director for a 3-year term starting August 6, 2026
- Mr. Abhijit Deshpande appointed as Non-Executive, Non-Independent Director with 41 years of industry experience
- Mr. Bhimanwar holds 7,000 equity shares in the company; Mr. Deshpande holds nil
- Appointments are subject to shareholder approval and were recommended by the Nomination & Remuneration Committee
GTL Infrastructure reported a net profit of ₹69.39 Cr for Q1 FY2026-27, a significant recovery from a loss of ₹232.42 Cr in the same quarter last year. This turnaround is primarily driven by a sharp reduction in reported finance costs to ₹22.81 Cr (from ₹253.29 Cr YoY) as the company has stopped accruing interest on certain loans pending a One Time Settlement (OTS). Revenue from operations remained stagnant at ₹327.31 Cr, down 2.1% YoY. Despite the accounting profit, auditors have issued a 'Material Uncertainty' warning regarding the company's ability to continue as a going concern due to its massive debt and negative net worth.
- Reported a Net Profit of ₹69.39 Cr in Q1 FY27 compared to a Net Loss of ₹232.42 Cr in Q1 FY26.
- Revenue from operations stood at ₹327.31 Cr, a slight decline from ₹334.53 Cr in the year-ago period.
- Finance costs decreased by 91% YoY to ₹22.81 Cr due to the non-accrual of interest on outstanding loans under OTS discussions.
- The company maintains a negative net worth of ₹5,215 Cr with a total debt of ₹5,898 Cr as per latest context.
- Promoter holding remains critically low at 3.28% as of June 2026.
GTL Infrastructure has allotted 2,99,637 equity shares following the conversion of Series B2 Interest Bearing Foreign Currency Convertible Bonds (FCCBs). The conversion involved bonds worth US$ 46,000 at a conversion price of Rs 10 per share, which is significantly higher than the current market price of Rs 1.2. Given the company's massive debt of Rs 5,898 Cr and negative net worth of Rs -5,215 Cr, this conversion is a minor administrative event with negligible impact on the overall financial health.
- Allotment of 2,99,637 equity shares upon bond conversion
- Conversion of Series B2 Bonds amounting to US$ 46,000
- Fixed conversion price of Rs 10 per share
- Total debt remains substantial at Rs 5,898 Cr as per latest context
- Promoter holding remains low at approximately 3.28%
GTL Infrastructure has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026. The document, issued by Bigshare Services Private Limited, confirms that share certificates received for dematerialization were processed and the underlying securities are listed on the stock exchanges. This is a standard administrative filing required of all listed entities to verify the integrity of shareholding records. There is no impact on the company's financial position or business operations.
- Compliance certificate issued for the quarter ended June 30, 2026
- Registrar and Share Transfer Agent (RTA) confirmed as Bigshare Services Private Limited
- Confirmation that dematerialized securities are listed on BSE (532775) and NSE (GTLINFRA)
- Filing submitted to exchanges on July 07, 2026
GTL Infrastructure Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This move is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, preceding the declaration of financial results for the quarter ended June 30, 2026. The window will remain closed until 48 hours after the quarterly results are made public. This is a routine administrative filing and does not reflect any change in the company's operational fundamentals.
- Trading window closure commences on Wednesday, July 1, 2026.
- The closure is in anticipation of the financial results for the quarter ending June 30, 2026.
- Trading restrictions apply to Directors, Officers, and designated employees including immediate relatives.
- The window will reopen 48 hours after the official announcement of the quarterly earnings.
GTL Infrastructure Limited has updated its list of Key Managerial Personnel (KMP) authorized to determine the materiality of events under SEBI regulations. This update follows the cessation of the company's Whole-time Director effective from the close of business hours on May 12, 2026. The Chief Financial Officer, Mr. Ajit Shanbhag, and the Company Secretary, Mr. Deepak Keluskar, will continue to handle these responsibilities. This is a procedural update to ensure regulatory compliance and continuity in corporate disclosures.
- Cessation of the Whole-time Director effective from the close of business hours on May 12, 2026
- Mr. Ajit Shanbhag (CFO) and Mr. Deepak Keluskar (CS) remain authorized for materiality determinations
- Disclosure made pursuant to Regulation 30(5) of SEBI (LODR) Regulations, 2015
- Contact details for authorized KMPs provided for exchange and investor communication
GTL Infrastructure has announced the resignation of Mr. Vikas Arora from his position as Whole-time Director, effective May 12, 2026. The resignation is described as a strategic realignment, allowing Mr. Arora to focus on business development and emerging opportunities within the company rather than board-level duties. The Board has accepted the resignation and authorized the Nomination and Remuneration Committee to find a replacement. Since Mr. Arora will continue to be associated with the company in a new capacity, the transition appears to be an internal restructuring rather than a complete exit.
- Mr. Vikas Arora (DIN: 09785527) resigned as Whole-time Director effective May 12, 2026.
- The Board meeting regarding this change lasted 3 hours and 45 minutes, concluding at 4:15 p.m.
- Mr. Arora will remain with the company to focus on strategic business development and emerging opportunities.
- The Nomination and Remuneration Committee has been authorized to recommend a suitable candidate for the vacant position.
GTL Infrastructure reported a significant turnaround with a net profit of ₹77,926 Lakhs for FY26, compared to a loss of ₹87,515 Lakhs in the previous year. This profit is primarily attributed to a massive exceptional gain of ₹119,823 Lakhs resulting from One Time Settlements (OTS) with lenders and the reversal of vendor claim provisions. While annual revenue remained relatively flat at ₹137,197 Lakhs, finance costs dropped sharply by 39% to ₹56,321 Lakhs due to debt restructuring. Despite the accounting profit, the company's net worth remains deeply negative at -₹521,503 Lakhs.
- Reported a net profit of ₹77,926 Lakhs in FY26 versus a loss of ₹87,515 Lakhs in FY25.
- Exceptional gain of ₹1,198.23 Crore includes ₹934.96 Crore from debt settlements and ₹263.27 Crore from vendor claim reversals.
- Finance costs reduced significantly to ₹56,321 Lakhs from ₹92,851 Lakhs year-on-year.
- Revenue from operations for FY26 stood at ₹137,197 Lakhs, showing a marginal growth of 2% YoY.
- Net worth remains a major concern with total equity at negative ₹521,503 Lakhs as of March 31, 2026.
Financial Performance
Revenue Growth by Segment
Revenue from Operations for the fiscal year ended March 31, 2025, was INR 134,407 Lakhs, representing a 2.04% decline compared to INR 137,201 Lakhs in FY 2023-24. For the half-year ended September 30, 2025, revenue grew 4.59% YoY to INR 71,488 Lakhs from INR 68,348 Lakhs.
Profitability Margins
The company reported a Net Loss of INR 87,515 Lakhs in FY 2024-25, widening by 28.44% from a loss of INR 68,136 Lakhs in FY 2023-24. Net margins are deeply negative as finance costs of INR 92,851 Lakhs significantly exceed operating profits.
EBITDA Margin
EBITDA (Profit before Depreciation, Finance Costs, Exceptional Items, and Tax) was INR 29,741 Lakhs in FY 2024-25, a 28.71% decrease from INR 41,715 Lakhs in FY 2023-24. The EBITDA margin contracted from 30.4% to 22.13% YoY.
Capital Expenditure
The company reported an impairment of assets (exceptional item) of INR 1,543 Lakhs in FY 2023-24, with no such impairment in FY 2024-25. Property, Plant and Equipment stood at INR 237,178 Lakhs as of March 31, 2025.
Credit Rating & Borrowing
The company faces unsustainable debt levels. Finance costs increased by 15.33% YoY to INR 92,851 Lakhs in FY 2024-25. Total current financial liabilities, including borrowings and other financial liabilities, reached INR 930,581 Lakhs as of March 31, 2025.
Operational Drivers
Raw Materials
Diesel fuel represents a primary operational cost for providing power backup at telecom tower sites.
Capacity Expansion
The company operates as an Infrastructure Provider Category-I (IP-I). Specific tower count or expansion targets were not disclosed in the provided text.
Manufacturing Efficiency
Manufacturing efficiency is measured by the reduction of diesel consumption at tower sites through energy-saving initiatives.
Strategic Growth
Expected Growth Rate
4.59%
Growth Strategy
The company is focused on urgent debt restructuring to bring liabilities to a sustainable level, following Reserve Bank of India guidelines. Growth is currently constrained by the need for financial stability and the impact of telecom sector consolidation.
Products & Services
Telecom tower infrastructure sharing services provided to wireless telecommunication operators.
Brand Portfolio
GTL Infrastructure Limited.
Strategic Alliances
The company has not made any new investments or provided corporate guarantees during the review period.
External Factors
Industry Trends
The telecom infrastructure industry has seen massive consolidation and operator exits over the past decade. The current trend focuses on 5G rollout and energy-efficient tower operations, though GTL is currently hindered by its financial position.
Competitive Landscape
The company operates in a capital-intensive industry with high barriers to entry but faces intense pressure from the limited number of surviving telecom operators.
Competitive Moat
The company's moat lies in its established network of telecom towers (Infrastructure Provider Category-I), which are essential for mobile connectivity. However, this moat is weakened by high leverage and a shrinking customer base of telecom operators.
Macro Economic Sensitivity
The company is highly sensitive to the health of the Indian telecom industry and regulatory shifts affecting mobile network operators.
Consumer Behavior
Increased data consumption and the transition to 5G drive the demand for more tower tenancies, though this is offset by operator-side financial distress.
Regulatory & Governance
Industry Regulations
The company is registered as an Infrastructure Provider Category-I (IP-I). It is not required to maintain cost records under Section 148(1) of the Companies Act, 2013.
Environmental Compliance
The company complies with Business Responsibility & Sustainability Reporting (BRSR) requirements and focuses on reducing diesel consumption to lower its environmental footprint.
Taxation Policy Impact
The company reported zero tax expenses for FY 2024-25 due to significant losses.
Legal Contingencies
Statutory auditors have highlighted a 'material uncertainty related to Going Concern' in Note no. 57 of the financial statements, indicating significant doubt about the company's ability to continue operations without debt restructuring.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful restructuring of debt. Failure to restructure could lead to liquidation, as indicated by the 'Going Concern' warning from auditors.
Geographic Concentration Risk
The company's registered office is in Navi Mumbai, Maharashtra, with operations spread across India at various tower sites.
Third Party Dependencies
High dependency on a few remaining large telecom operators for tenancy revenue.
Technology Obsolescence Risk
The shift from 4G to 5G requires infrastructure upgrades, posing a risk if the company cannot secure capital for necessary technology transitions.
Credit & Counterparty Risk
The company faces high credit risk due to the historical bankruptcies of its clients (telecom operators), which led to the current unsustainable debt levels.
