Gammon India FY26 loss widens as turnover jumps 4x

Key takeaway

Gammon India Limited has reported a wider standalone net loss for FY 2025-26 even as standalone turnover rose sharply year-on-year. The company has also lined up governance items for its 104th Annual General Meeting (AGM) and scheduled a board meeting on 10 August 2026 to consider Q1 FY 2026-27 unaudited results.

FY26 financial performance at a glance

For FY 2025-26, Gammon India reported a standalone net loss after tax of Rs 1,189.01 crore, widening from Rs 1,078.14 crore in FY 2024-25. Over the same period, standalone turnover increased to Rs 85.18 crore from Rs 21.23 crore, indicating a sharp rise in reported topline.

On a consolidated basis, turnover rose to Rs 94.48 crore in FY 2025-26 from Rs 67.89 crore in FY 2024-25. Consolidated net loss after tax stood at Rs 1,170.34 crore for FY 2025-26, compared with Rs 1,192.34 crore in FY 2024-25.

Standalone vs consolidated: what changed

The company’s standalone loss before tax for FY 2025-26 was reported at (Rs 1,188.60 crore) versus (Rs 1,109.64 crore) in FY 2024-25. Consolidated loss before tax for FY 2025-26 was (Rs 1,159.24 crore) compared with (Rs 1,223.69 crore) in FY 2024-25.

The reported numbers show a divergence across the two sets of accounts: standalone losses widened on both pre-tax and post-tax bases, while consolidated losses showed improvement on both pre-tax and post-tax lines compared with the previous year.

FY26 numbers table

March 2026 quarter: audited approval and reported quarter metrics

Gammon India said its board approved the audited standalone and consolidated financial statements for the quarter and year ended 31 March 2026 at a meeting held on 30 May 2026.

For the quarter ended 31 March 2026, the company reported a standalone revenue from operations of Rs 80.23 crore, compared to Rs 0.11 crore in the previous quarter and Rs 3.43 crore in the corresponding quarter of the previous year. The company also reported a standalone loss after tax of Rs 267.68 crore for the quarter, compared with Rs 318.18 crore in the previous quarter and Rs 236.02 crore in the corresponding quarter of the previous year.

Separately, the company’s standalone financial results also mention total income of Rs 8.57 crore for the quarter ended 31 March 2026 and a loss before tax of Rs 267.55 crore.

Quarter-on-quarter and year-on-year comparison (Q4 FY26 standalone)

Q3 FY2026 standalone snapshot

The data provided for Q3 FY2026 (standalone) shows:

• Revenue: Rs 3.51 crore
• Expenditure: Rs 321.58 crore
• Net Profit: (Rs 318.17 crore)
• OPM: -100.00%

These figures highlight the continued pressure on profitability in that quarter, alongside low reported revenue.

104th AGM agenda: financial statements, board changes, cost auditor

The agenda for the company’s 104th AGM includes:

• Adoption of the audited standalone and consolidated financial statements for FY 2025-26.
• Appointment of Mr. Ajay Bhatnagar as an Independent Director for a term of five years from 30 May 2026 to 29 May 2031.
• Appointment of Mr. Radhakrishnan Nair Bhaskaran Pillai as an Independent Director for a term of five years from 3 August 2026 to 2 August 2031.
• Ratification of remuneration of Rs 70,000 payable to Cost Auditor CMA Pradeep Damania for FY 2026-27.

In addition, the company stated that the 30 May 2026 meeting also saw the appointment of Ajay Bhatnagar as an Additional Director (Non-Executive, Independent Director) and the appointment of CMA Pradeep Damania as Cost Auditor for FY 2026-27.

Next trigger: board meeting on 10 August 2026

Gammon India has issued a board meeting intimation for a meeting to be held on Monday, 10 August 2026. The stated purpose is to approve the Q1 FY 2026-27 unaudited standalone and consolidated results.

For investors, this date is the next scheduled milestone that could add detail to the company’s near-term operating trajectory, particularly given the sharp quarter-to-quarter changes cited in the March 2026 quarter disclosure.

Market reference points mentioned in the release

The information provided also references the company’s identifiers and trading details, including BSE: 509550 and NSE: GAMMONINDBZ, and notes a stock price of Rs 1.65.

An earnings data line in the material cites a latest release date of 30 May 2026, with EPS of -8.47 and revenue of 533.8M. As stated in the material, the revenue figure is in millions of INR, which corresponds to Rs 53.38 crore.

Why the FY26 update matters

The FY26 results present a mixed picture. Standalone turnover increased materially year-on-year, but losses widened on a standalone basis. Consolidated results, in contrast, show an increase in turnover and a modest reduction in net loss after tax compared with FY25.

The company’s governance agenda is also a key part of the update, with proposed independent director appointments covering multi-year terms and a cost auditor remuneration vote for FY 2026-27. Alongside this, the upcoming 10 August 2026 meeting creates a defined near-term checkpoint for new quarterly disclosures.

Conclusion

Gammon India’s FY 2025-26 numbers show a sharp rise in turnover but continued large losses, with standalone loss widening and consolidated loss narrowing year-on-year. The next formal updates will be routed through the 104th AGM items and the 10 August 2026 board meeting to consider Q1 FY 2026-27 unaudited results.