Likhitha Infrastructure Ltd

AGM details

• AGM held on 28 Sep 2026 at 12:00 PM via VC/OAVM.
• Record date 21 Sep 2026; shareholders on record 48,946.
• Total attendees via VC: 35; attendees in person/proxy: 3.

Key resolutions and outcomes

• Resolution 1: Adoption of standalone and consolidated financial statements; ordinary; passed 99.99% in favour.
• Resolution 2: Re-appointment of Sri Lakshmi Gaddipati; ordinary; passed 95.31% in favour.

Director changes

• Director Sri Lakshmi Gaddipati re-appointed; retires by rotation.

AGM details

• Date and time: 28 September 2026, 12:00 PM.
• Mode: VC/OAVM.

Key resolutions and outcomes

• Resolution 1: Adopt standalone and consolidated financial statements; passed with 99.99% in favour; 224 abstained.
• Resolution 2: Re-appoint director retiring by rotation; passed with 95.31% in favour; 224 abstained.

Director changes

• Director Sri Lakshmi Gaddipati retired by rotation and re-appointed.

Scrutinizer report

• All resolutions passed with requisite majority per Scrutinizer's report.

AGM Details

• Date and time: 28 September 2026, 12:00 IST; mode: VC/OAVM.

Ordinary Resolutions

• Adopt Audited Financial Statements (standalone and consolidated) for year ended 31 March 2026.
• Re-appoint Sri Lakshmi Gaddipati by rotation.

Voting Status

• Voting results to be intimated to stock exchanges and uploaded on the company and Bigshare websites.

Key Decisions

• Approved incorporation of wholly-owned subsidiary in Abu Dhabi named Likhitha Infrastructure Middle East LLC.
• Subsidiary to be 100% owned by Likhitha Infrastructure Limited.
• Approved acquisition of an additional 30% stake in Likhitha HAK Arabia Contracting Company.
• Post-acquisition, Likhitha's stake in Likhitha HAK Arabia Contracting will be 90%.
• Cash consideration up to SAR 525,000, subject to valuation and definitive agreements.
• Acquisition not a related party transaction; arm's-length with selling shareholder.
• Timeline: completion within six months from approval.
• No governmental or regulatory approvals required for the acquisition.

New UAE subsidiary

• Board approves incorporation of a wholly-owned subsidiary in Abu Dhabi, UAE.
• Proposed subsidiary to be named Likhitha Infrastructure Middle East LLC and wholly owned.
• Details required under SEBI Listing Regulations enclosed as Annexure-A.

Increase in Saudi subsidiary stake

• Acquire 30% additional stake in Likhitha HAK Arabia Contracting Company to reach 90%.
• Acquisition from Arabian HAK Company Ltd for up to SAR 525,000 in cash.
• Subject to valuation requirements and definitive agreements; completion within six months.
• Transaction is at arm's length with no related party implications.
• No regulatory approvals required for the acquisition.

Likhitha Infrastructure Limited trading window closes from Oct 01, 2026 until 48 hours after declaration of unaudited financial results for the Second Quarter and Half Year ended Sep 30, 2026

Financial performance

• Standalone revenue from operations ₹45,673.44 lakh; down from ₹51,221.54 lakh in 2024-25.
• Standalone EBITDA ₹6,245.91 lakh; declined from ₹10,034.84 lakh.
• Standalone PAT ₹4,002.10 lakh; vs ₹6,936.99 lakh prior year.
• Standalone EPS ₹10.14; prior year ₹17.58.
• Dividend policy: Board did not declare any dividend for FY2025-26.
• Year-end order book: ₹850 crore; international ASAB award ₹510 crore (CPEC Abu Dhabi).
• Consolidated total income ₹46,109.33 lakh; Consolidated PAT ₹3,854.91 lakh.
• Consolidated EPS ₹9.94; total equity ₹41,155.10 lakh; 3.945 crore shares outstanding.
• Standalone net worth ₹41,354.95 lakh; Consolidated net worth ₹41,155.10 lakh.

Operations and international footprint

• Core EPC business spans cross-country pipelines and CGD networks.
• Projects include KHPL, NCJPL, MNJPL, NEGG, KCPL and IOAGPL Kerala CGD.
• Over 6,500 km pipelines completed; operations across 20 states and 2 UTs.
• International expansion through UAE and Saudi Arabia via Likhitha Hak Arabia JV and CPM-Likhitha Consortium.
• ASAB project award strengthens international execution capabilities (₹510 crore).

Dividends, capital structure and shareholding

• Dividend Distribution Policy adopted; no dividend declared for FY2025-26.
• Authorized share capital ₹21.60 crore; paid-up ₹19.725 crore; 3.945 crore equity shares.
• Promoter holding 70.25%; Foreign 0.10%; NRIs 2.39%; others 26.??.
• Unclaimed dividend balance ₹3.81 lakh recorded as on 31.03.2026.
• Post-year: executive directors Chandra Dheerajram and Lohitha Gaddipati appointed July 22, 2026.

Governance and risk

• Board of seven directors; four independent including one woman.
• Audit, Nomination & Remuneration, Stakeholders Relationship, CSR and Risk Management committees formed.
• Statutory auditors NSVR & Associates LLP; Internal auditors Mukul Tyagi & Associates; Secretarial VCAN & Associates.
• D&O insurance in place; independent director familiarisation programs conducted.

Risk management

• Enterprise Risk Management (ERM) framework in place; major risks include OHS, HR, competition, regulation, liquidity, cyber security.
• Mitigations include HSE practices, prudent procurement, and disciplined project monitoring.
• International expansion increases regulatory and currency risk; risk governance via Audit and Risk Committees.

ESG and CSR

• CSR spend ₹175.00 lakh; Schedule VII-aligned; CSR Committee monitors activities.
• ESG framework aligned with ISO 14001, ISO 45001; energy and environmental stewardship focus.
• No material environmental incident; safety and waste management practices in place.

Outlook and strategy

• India’s energy infrastructure expansion supports sustained EPC demand.
• CGD networks and natural gas transmission remain growth drivers.
• Strengthened international footprint to gradually scale opportunities in UAE and KSA.

Key terms of preferential warrant issue

• Allotment of 25,00,000 convertible warrants on a preferential basis, convertible into equal equity shares.
• Warrants exercisable at ₹180 per warrant within 18 months from allotment.
• Issue price ₹240 per warrant, aggregate up to ₹60 crore.
• 25% upfront consideration received totaling ₹15 crore; no paid-up capital change yet.
• Allottees include promoters, promoter group, and non-promoter individuals; 21 investors.
• Special resolution passed at EGM on 22 July 2026; NSE/BSE approvals dated 27 Aug 2026.
• No change in paid-up share capital at this stage.
• Post-issue shareholding shows changes for promoters and non-promoters after warrants.
• Rights may be exercised in one or more tranches within 18 months from allotment.

Business overview

• Core business: pipeline infrastructure (CGD, CCP), O&M, and fuel depot tankage facilities.
• Pan-India presence in 20 states and 2 UTs.

Key operational highlights

• Q1 FY27 standalone revenue ₹85.06 Cr; down from ₹122.41 Cr in Q1 FY26.
• EBITDA ₹12.34 Cr, margin 14.27%.
• Net profit ₹7.34 Cr; EPS ₹1.86.

Financial performance

• Revenue from operations (standalone) ₹85.06 Cr; QoQ decline from Q1 FY26 ₹122.41 Cr.
• EBITDA ₹12.34 Cr; margin 14.27%.
• Net profit ₹7.34 Cr; EPS ₹1.86.
• Outstanding order book ₹1,454 Cr as of 30 Jun 2026.

Capital structure & liquidity

• No debt/equity data disclosed in this update.

Strategic priorities & outlook

• Focus on pan-India pipeline expansion across CCP, CGD, O&M, and Tankage.
• No forward-looking guidance provided in the update.

Risks & mitigation

• Risks include earnings volatility, project execution delays, competition, policy changes, financing costs.

Governance & leadership

• MD: Srinivasa Rao Gaddipati; CFO: Likhitha Gaddipati; Chairman: Sivasankara Pillai.
• Board includes multiple independent directors; listed on BSE & NSE since 2020.