GHV Infra Projects Ltd

Promoter reclassification approval

• BSE approval for reclassification of Husena A. Musamji from Promoter to Public under Regulation 31A.
• Shares: 3,750,000 representing 5.20% of total shareholding.
• Reclassification based on May 26, 2026 application; Annexure-A enclosed.
• No-objection for reclassification granted by exchange.
• Subject to ongoing disclosures per Regulation 31A.

Financial highlights

• Revenue from operations Rs 218.59 crore, up 171.67% YoY.
• EBITDA Rs 28.05 crore, up 235.93% YoY; margin 12.83%.
• PAT Rs 11.25 crore, up 138.35% YoY; PAT margin 5.15%.
• PBT Rs 15.53 crore, up 145.73% YoY.
• Diluted EPS Rs 1.48.

Governance changes

• Appointed three Additional Independent Directors: Manoj Aggarwal, Dhanraj O Tawade, Swarup Dasgupta.
• Strengthens governance and strategic oversight.

Strategic developments & awards

• Honoured with Emerging Contractor of the Year at RAHSTA Awards 2026.
• Focus on expanding execution capabilities and project pipeline across sectors.

Outlook and management commentary

• FY27 momentum; expansion across transportation, energy, urban development and industrial segments.
• Management aims to capture opportunities while building a resilient, long-term value.

Issue Overview

• Type: Convertible Warrants under a Preferential Issue.
• Total issue size disclosed; no undersubscription or revision reported.
• Main objectives: working capital, site infrastructure, expansion, and general corporate purposes.

Utilisation of Proceeds

• Utilisation as per offer document: yes; no material deviations observed.
• Working Capital: partially utilised; balance unutilised as of quarter end.
• Other objects: no funds utilised; no warrants exercised during the quarter.
• GCP: not utilised in this quarter; previously 38.50 Cr used for working capital.
• Unutilised funds: total unutilised amount at quarter end.

Governance and Compliance

• Approvals: Government/statutory approvals obtained; approvals not required for the objects.
• Material events: no favorable or unfavorable events affecting viability reported.
• Other information: no material information evident affecting investor decision.

GCP

• GCP objective: not yet decided for current period.
• Utilisation: no funds utilized during the quarter; prior period 38.50 Cr used for working capital.
• Board approval: not explicitly indicated for allocation in this period.

New Independent Directors

• Appointed Swarup Dasgupta as Non-Executive Independent Director for 5 years (Aug 10, 2026–Aug 9, 2031).
• Appointed Manoj Aggarwal as Non-Executive Independent Director for 5 years (Aug 10, 2026–Aug 9, 2031).
• Appointed Dhanraj Onduji Tawade as Non-Executive Independent Director for 5 years (Aug 10, 2026–Aug 9, 2031).
• All three appointees are not related to any director and are not debarred.
• Swarup Dasgupta: Profile: Banking professional; ex-ED Bank of India; MBA in Finance.
• Manoj Aggarwal: Profile: Retired IAS officer; Gujarat cadre; governance, infrastructure leadership.
• Dhanraj Tawade: Profile: Civil engineering veteran; ex-NHAI Member (Technical); 37 years in highways.

Price movement clarification

• Company states compliance with Regulation 30 of SEBI LODR.
• Has promptly intimated stock exchange of all events bearing on operations or performance.
• There is no undisclosed price-sensitive information or pending material announcement.
• Recent price movement appears market-driven; company has no control.
• Request to record above information with exchange.

Dematerialisation/Rematerialisation status

• Dematerialisation requests processed in the quarter; confirmed to depositories; listed on same exchanges.
• Physical certificates received for dematerialisation mutilated and cancelled after verification; depository's name substituted as registered owner within timelines.

Rating action

• Agency: Acuité upgrades long-term bank facilities from BBB- (stable) to A (stable).
• Short-term facilities upgraded from A3 to A1 with stable outlook.
• Instruments rated: Long-term and Short-term bank facilities.
• Rating action date: 01 July 2026.
• Material change: upgrade of both long-term and short-term ratings.
• Rationale not disclosed in the filing.

Agency and outlook

• Rating agency: Acuité Ratings & Research Limited.
• Outlook: Stable for both ratings.