GMR AIRPORTS LIMITED (GMRAIRPORT) — Board Meeting

1 Board Meeting 🟡 Notable Neutral 📄 PDF

📢 Key Event
Board appoints Narasimha Murthy & Co. as Cost Auditor for FY 2026-27

🔄 What Changed
New cost auditor appointed; remuneration to be ratified by members

🔮 What's Next
Ratification of remuneration required at upcoming General Meeting

💡 Investor Takeaway
This appoints a specialized cost auditor with airport expertise, but remuneration approval remains pending, introducing minor governance uncertainty.

GMR Airports announced on May 27, 2026, that its board appointed Narasimha Murthy & Co., Cost Accountants (Firm Reg. No. 000042) as the Cost Auditor for FY 2026-27, pending member ratification of remuneration at the upcoming AGM. The appointment follows SEBI Listing Regulations and leverages the firm's 42+ years of experience in airport and infrastructure cost audits.

2 Board Meeting 🟡 Notable Neutral 📄 PDF

📢 Key Event
Board approved audited financial results for Q4 and FY 2025-26, appointed M/s Narasimha Murthy & Co. as cost auditor for FY 2026-27.

🔄 What Changed
Debt-to-working capital ratio increased to 21.00 from 15.88; current ratio declined to 1.10 from 2.01; exceptional items included Rs. 113.47 crore insurance gain and Rs. 69.65 crore Labour Code impact; arbitration award excused fee payments from March 2020 to February 2022.

💡 Investor Takeaway
The company faces ongoing regulatory and tariff disputes but maintains financial stability with strong profitability and an unmodified audit opinion, though liquidity ratios have weakened.

GMR Airports Limited announced the outcome of its May 27, 2026 board meeting, approving audited financial results for the quarter and year ended March 31, 2026, and appointing M/s Narasimha Murthy & Co. as cost auditor for FY 2026-27. The auditor's report confirmed a true and fair view under Ind AS with an unmodified opinion despite uncertainties related to tariff matters at Delhi and Hyderabad airports. The filing also disclosed legal disputes involving AAI and AERA over fee payments, including an arbitral award excusing fee obligations from March 2020 to February 2022, and ongoing appeals. Financial highlights included revenue of ₹14,807.41 crore for the year, net profit after tax of ₹10,414.24 crore, and a debt-to-working capital ratio of 21.00. The board also addressed related party transactions, exceptional items totaling ₹113.47 crore, and impacts from new Labour Codes requiring additional Rs. 7.61 crore provisions.

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