CMM Infraprojects Limited Approves Audited Results; Auditor Issues Qualified Opinion on FY2026 Performance

CMM Infraprojects Limited Approves Audited Results; Auditor Issues Qualified Opinion on FY2026 Performance​

CMM Infraprojects Limited has approved and taken on record the audited financial results for both the half-year and the full financial year ended March 31, 2026. The company's performance details were presented along with an independent auditor’s report which rendered a qualified opinion regarding the results.

The Board of Directors held a meeting to review these statements.

Key Financial Highlights​

The audited figures present CMM Infraprojects Limited’s financial position for the period ending March 31, 2026. Total Revenue for the full year stood at 433,152 Lakhs, while total expenses were recorded at 632,992 Lakhs. The company reported a net profit of 127.42 Lakhs after exceptional items.

The financial performance comparison across periods is detailed below:


The company’s financial structure includes a total of 5,554.71 Lakhs in equity and liabilities as of March 31, 2026.

Auditor's Qualified Opinion and Matters of Emphasis​

The statutory auditor provided a qualified opinion on the audited financial results for the year ended March 31, 2026. The basis for qualification relates to the cancellation and reduction of equity shares held by promoters. Due to a difference between the promoter and public shareholding pattern defined in the Hon'ble NCLT Order dated November 11, 2024, and the actual shareholding as recorded on that date, the company is seeking rectification from the Hon'ble NCLT. As of yet, the definitive quantum of cancellation or reduction required could not be determined by the auditor, leading to the qualified opinion.

The audit report also highlighted two key areas:

1. Exceptional Gain: During the Corporate Insolvency Resolution Process (CIRP), the company wrote off various liabilities and assets, resulting in a net gain aggregating to Rs 2,125.82 Lakhs, which was recognized as an Exceptional Item.
2. Disputed Receivable: The auditor drew attention to an Interest Receivable amounting to Rs 44.93 Lakhs from a bank that is currently under dispute. No legal proceedings or formal action had been initiated by the company to recover this amount.

Corporate Insolvency Status and Shareholding Complexity​

The company has completed the CIRP, following the approval of a Resolution Plan submitted jointly by Effulgence Trading and Service Private Limited and Shree Naivedya Fincom Private limited by the Hon'ble NCLT on November 11, 2024. Following this outcome, a Monitoring Committee was constituted to monitor the implementation of the Approved Resolution Plan.

However, complexities arose regarding capital restructuring. While the NCLT order dated November 11, 2024 specified promoter shareholding at 35.88% and public shareholding at 64.12%, the actual recorded shareholding on that date showed the promoter's holding as only 1.04%. This discrepancy is attributed to the promoter group selling 54,60,000 shares during the CIRP period. Consequently, the company was unable to complete the public shareholding reduction to 1,60,800 equity shares as prescribed by the NCLT Order, and an application for capital structure reconstitution is currently pending adjudication before the Hon'ble NCLT.

Financial Reporting Details​

The financial results were audited by SPNARK & Associates Chartered Accountants LLP. The company also recognized a net gain of 2,125.82 Lakhs from writing off liabilities and assets during the CIRP, classified as an Exceptional Item in the Statement of Profit and Loss.

Cash flow data for the year reflects that Net cash from Operating Activities was 154659 Lakhs, with a net increase in Cash and Cash Equivalents totaling 520 Lakhs.