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GTL Limited’s March 2026 Loss Driven by Exchange Loss and Exceptional Items

May 14, 2026 4 mins read Firehose Gupta

GTL Limited — Quarter ended March 31, 2026 (Audited) and year ended March 31, 2026 (Audited)

Sr.No. Particulars Quarter ended March 31,
2026 Audited		 Quarter ended December 31,
2025 Unaudited		 Quarter ended March 31,
2025 Audited		 Year ended March 31,
2026 Audited		 Year ended March 31,
2025 Audited
1 Revenue from operations 5,824.78 5,499.84 6,989.97 22,437.20 25,387.94
2 Other Income
a) Exchange Gain NIL NIL NIL NIL NIL
b) Others 92.57 22.09 72.63 232.79 634.46
3 Total Income (1+2) 5,917.35 5,521.93 7,062.60 22,669.99 26,022.40
4 Expenses
a) Cost of Material Consumed and Services rendered 162.90 146.00 619.24 1,497.81 2,584.52
b) Changes in inventories of finished goods, Stock-in-Trade and work-in-progress NIL NIL NIL NIL NIL
c) Employee benefits expenses 1,928.81 2,206.92 1,729.85 8,433.45 8,179.70
d) Finance costs (Refer Note 8) 921.36 917.98 836.90 3,603.18 3,384.60
e) Depreciation and amortisation expense 205.12 189.46 273.60 742.32 1,157.08
f) Exchange Loss 5,579.41 1,525.11 117.46 11,104.51 3,236.74
g) Other Expenses 698.62 799.38 1,034.72 3,613.43 4,938.20
Total Expenses (4) 9,496.22 5,784.85 4,611.77 28,994.70 23,480.84
5 Profit / (Loss) before exceptional items and tax (3-4) (3,578.87) (262.92) 2,450.83 (6,324.71) 2,541.56
6 Exceptional items (Refer Note 9) 60,948.90 NIL 155.26 61,044.45 155.26
7 Profit / (Loss) before tax (5+6) 57,370.03 (262.92) 2,606.09 54,719.74 2,696.82
8 Tax expense:
i) Current tax NIL NIL NIL NIL NIL
ii) Adjustment of tax relating to earlier periods NIL NIL NIL NIL NIL
iii) Deferred tax (3,535.00) NIL 1,485.00 (3,535.00) 3,535.00
9 Profit / (Loss) for the period from Continuing operations (7-8) 60,905.03 (262.92) 1,121.09 58,254.74 (838.18)
10 Profit / (Loss) from discontinued operations NIL NIL NIL NIL NIL
11 Tax expense of discontinued operations NIL NIL NIL NIL NIL
12 Profit / (Loss) from discontinued operations (after tax) (10+11) NIL NIL NIL NIL NIL
13 Profit / (Loss) for the period (9+12) 60,905.03 (262.92) 1,121.09 58,254.74 (838.18)
14 Other Comprehensive Income
A (i) Items that will not be reclassified to profit or loss 33.50 (24.79) 7.36 71.97 41.97
A (ii) Income tax relating to items that will not be reclassified to profit or loss NIL NIL NIL NIL NIL
B (i) Items that will be reclassified to profit or loss NIL NIL NIL NIL NIL
B (ii) Income tax relating to items that will be reclassified to profit or loss NIL NIL NIL NIL NIL
Total Other Comprehensive income for the period / year 33.50 (24.79) 7.36 71.97 41.97
15 Total Comprehensive Income for the period (13+14) (Comprising profit / (loss) and other Comprehensive Income for the period) 60,938.53 (287.71) 1,128.45 58,326.71 (796.21)
16 Paid-up equity share capital (Equity Shares of Face Value of ₹ 10/- each) 15,729.68 15,729.68 15,729.68 15,729.68 15,729.68
17 Earnings Per Share (For continuing operations) (of ₹ 10 /- each) (not annualised):
a. Before Exceptional items:
– a) Basic (0.03) (0.17) 0.61 (1.78) (0.64)
– b) Diluted (0.03) (0.17) 0.61 (1.78) (0.64)
b. After Exceptional items:
– a) Basic 38.72 (0.17) 0.71 37.03 (0.54)
– b) Diluted 38.72 (0.17) 0.71 37.03 (0.54)
18 Earnings Per Share (For discontinued operations) (of ₹ 10 /- each) (not annualised):
– a) Basic NIL NIL NIL NIL NIL
– b) Diluted NIL NIL NIL NIL NIL
19 Earnings Per Share (For discontinued and continuing operations) (of ₹ 10 /- each) (not annualised):
– a) Basic (After Exceptional items) 38.72 (0.17) 0.71 37.03 (0.54)
– b) Diluted (After Exceptional items) 38.72 (0.17) 0.71 37.03 (0.54)
20 Capital Redemption Reserve and Debenture Redemption Reserve N.A. N.A. N.A. 19,979.22 19,979.22
21 Other Equity N.A. N.A. N.A. (5,60,334.94) (6,18,661.65)
22 a. Debt Service Coverage Ratio N.A. N.A. N.A. N.A. N.A.
b. Interest Service Coverage Ratio (ISCR) N.A. N.A. N.A. N.A. N.A.
c. Debt – Equity Ratio N.A. N.A. N.A. N.A. N.A.
Particulars As at March 31, 2026 As at March 31, 2025
₹ in lakhs ₹ in lakhs
I. ASSETS
Non-current assets
Property, plant and equipment 680.13 475.71
Right to Use of Lease Assets 825.03 1,099.53
Intangible assets 126.43 NIL
Financial Assets
(i) Investments NIL NIL
(ii) Loans NIL NIL
(iii) Others 180.25 243.45
Deferred tax assets NIL NIL
Other non-current assets NIL NIL
Total Non-Current Assets (A) 1,811.84 1,818.69
Current Assets
Inventories NIL NIL
Financial Assets
(i) Investments NIL NIL
(ii) Trade receivables NIL 1,489.87
(iii) Cash and cash equivalents 305.32 42.04
(iv) Bank balances other than (ii) above 1,580.77 1,068.33
(v) Loans NIL NIL
(vi) Others 5,477.03 2,883.53
Assets held for Discontinued Operations (Net) NIL NIL
Current Tax Assets (Net) 2,137.21 1,741.61
Other current assets 1,924.18 1,481.61
Total Current Assets (B) 11,424.51 8,706.99
Total assets C = (A+B) 13,236.35 10,525.68
I. EQUITY AND LIABILITIES
Equity
a) Share Capital 15,729.68 15,729.68
b) Other Equity (5,60,334.94) (6,18,661.65)
Total Equity (D) (5,44,605.26) (6,02,931.97)
Liabilities
Non-current liabilities
Financial Liabilities
(i) Borrowings (OCPS) 32,794.87 29,518.04
(ii) Lease Liabilities 479.10 676.97
Provisions 131.48 133.09
Deferred Tax liabilities NIL 3,535.00
Other non-current liabilities NIL NIL
Total non-current liabilities (E) 33,405.45 33,863.10
Current liabilities
Financial Liabilities
(i) Borrowings 4,55,339.86 5,33,307.49
(ii) Trade payables
– MSME 124.70 124.70
– Others 907.08 954.67
(iii) Lease Liabilities 358.32 400.36
(iv) Other financial liabilities 37,421.14 34,949.49
Other current liabilities 30,253.28 9,822.47
Provisions 31.78 35.37
Current Tax Liabilities (Net) NIL NIL
Total current liabilities (F) 5,24,436.16 5,79,594.55
Total Liabilities G = ( E+F ) 5,57,841.61 6,13,457.65
Total equity and liabilities (D+G) 13,236.35 10,525.68
Particulars 31-Mar-26 31-Mar-25
Operating activities
Profit/(loss) before tax after exceptional items from continuing operations 54,719.75 2,696.82
Profit/(loss) before tax from discontinued operations Nil Nil
Profit/(Loss) before tax but after exceptional items 54,719.75 2,696.82
Adjustments to reconcile profit/(loss) before tax to net cash flows:
Depreciation and impairment of property, plant and equipment 742.32 1,157.08
Finance income (including fair value change in financial instruments) (187.70) (486.81)
Finance costs (including fair value change in financial instruments) 3,502.43 3,153.69
Unrealised Exchange (Gain)/Loss 11,104.51 3,236.74
Deposits written off Nil 325.35
Provision for doubtful Trade Receivables (Net) Nil (58.05)
Interest on right to use leased assets 100.74 230.91
Accounting impact pursuant to OTS arrangements with lenders (73,991.19) Nil
Liquidated damages towards restoration of pledged shares 17,900.00 Nil
Working capital adjustments:
Increase/(decrease) in provision for gratuity & compensated absences 66.77 50.64
(Increase)/decrease in trade receivables 1,489.87 2.51
(Increase)/decrease in other current assets 828.77 1,032.79
(Increase)/decrease in short term loans and advances (3,800.01) 7,442.36
Increase/(decrease) in trade payables, other current liabilities and provisions 4,733.20 1,558.29
17,209.46 20,342.32
Income tax paid (including TDS) (net) (595.89) (529.94)
**Net cash flows from operating

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