GHV Infra Projects505504Quarterly results

CFO appointed, independent director resigns; Sept quarter results approved

Board on Oct 22, 2026 approved Q2/H1 results and appointed Mr. Salim Yahoo as Chief Financial Officer.

By ScoutQuest · Fri 23 Oct 2026, 9:44 AM IST · 3 min read

Q2 revenue from operations: Rs 30,008.29 lakh
Q2 net profit after tax: Rs 1,838.43 lakh
H1 revenue from operations: Rs 51,868.22 lakh

Results approved for the September quarter

Revenue from operations for the quarter ended September 30, 2026 was Rs 30,008.29 lakh, against Rs 21,859.93 lakh in the quarter ended June 30, 2026 and Rs 18,376.60 lakh in the quarter ended September 30, 2025.
Net profit after tax for the quarter was Rs 1,838.43 lakh, against Rs 1,125.48 lakh in the preceding quarter and Rs 1,122.20 lakh a year earlier.
For the half year ended September 30, 2026, revenue from operations was Rs 51,868.22 lakh (previous half year Rs 26,422.60 lakh) and net profit after tax was Rs 2,963.91 lakh (previous half year Rs 1,594.05 lakh).
Basic and diluted earnings per share for the quarter were 2.44 and 2.23 respectively, on a face value of Rs 5 per share.
The figures above are as printed in the statement, which is presented in Rs in lakhs.
These are unaudited standalone results; the auditors, Manubhai & Shah LLP, issued a limited review report, which is not an audit opinion.

New Chief Financial Officer

The Board, on the recommendation of the Nomination and Remuneration Committee and the Audit Committee, approved the appointment of Mr. Salim Yahoo as Chief Financial Officer (Key Managerial Personnel) with effect from October 22, 2026. The update describes him as a finance professional with over 30 years of experience in financial management, fund raising, capital structuring, treasury management, project finance and investor relations, and notes prior association as Group CFO with KP Group of Companies and senior positions at Solar Square Energy, CRISIL Limited, HDFC Bank and Axis Bank. He holds a PGDBA in Finance from Symbiosis Institute of Business Management, Pune and a B.Com. degree from Parle College of Commerce, Mumbai.

Independent director resignation

Mr. Ravi Kumar Seth (DIN:02427404) resigned as Independent Director with effect from close of business hours of October 22, 2026.
Consequent to the resignation, he also ceases to be a member of the Audit Committee and the Nomination and Remuneration Committee.
The update lists his directorships in other listed entities as La Tim Metal & Industries Limited and Lahoti Overseas Limited, where he holds membership of the Audit Committee and Nomination and Remuneration Committee.

Key managerial personnel as updated

Mr. Ajay Hans - Managing Director
Mr. Reby Thomas Elsan - Whole Time Director
Mr. Salim Yahoo - Chief Financial Officer
Mr. Daksh Tulsibhai Mewada - Company Secretary & Compliance Officer

Warrant conversion and share capital

During the quarter ended September 30, 2026, the company received the balance consideration of Rs. 5,000.01 lakhs from JHV Commercial LLP, a promoter, towards conversion of 16,16,667 convertible warrants.
The Executive Committee of the Board on August 27, 2026 approved conversion and allotted 83,33,335 fully paid-up equity shares of face value of Rs. 5 each, in the ratio of 1:5, following the sub-division of face value from Rs. 10 to Rs. 5 and a bonus issue in the ratio of 3:2.
Paid-up equity share capital rose to Rs. 4,020.42 lakhs, comprising 8,04,08,335 equity shares of Rs. 5 each.
21,83,333 warrants remained pending for conversion as at September 30, 2026.

Promoter group reclassification

At the 49th Annual General Meeting held on September 25, 2026, members approved the reclassification of Mrs. Husena A. Musamji, holding 37,50,000 equity shares representing 5.20% of the paid-up equity share capital as at the date of application, from the Promoter and Promoter Group category to the Public category. She shall cease to be classified as part of the Promoter and Promoter Group.

Update on UAE EPC contract

The EPC contract for the Erisha Smart Manufacturing Hub at RAKEZ, Ras Al Khaimah, UAE, entered into between Rana Exim FZ-LLC and the company's wholly owned subsidiary, GHV Infra FZ-LLC, was concluded in the fourth week of September 2026, following prolonged delays in obtaining Project and Master Plan approvals from the Employer and continuing uncertainties from the geopolitical situation in West Asia. The matter remains contingent, its outcome depends on ongoing discussions and related legal proceedings, and the financial implications cannot presently be determined with reasonable certainty; accordingly no provision or adjustment has been recognised in the standalone results as at September 30, 2026.

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