Sadbhav Engineering Auditor Resigns Citing Shrinking Operations And Qualified Opinions

Debt Relief Lifts Profit PAT at Rs 63.9 Cr in Q2 FY27, +137.8% YoY. Revenue at Rs 227 Cr in Q2 FY27, -9.2% YoY. EBITDA at Rs 173 Cr, -14.7% YoY; Other Income fell to Rs 14.6 Cr vs Rs 55.5 Cr, dragging EBITDA. EBITDA margin at 76.2% vs 81.1%. Statutory auditors Manubhai & Shah LLP resigned w.e.f. 4 Nov 2026 citing reduced operations; review remains qualified on Rs 350 Cr contract assets, RPTPL/RHTPL interest non-provision and Rs 119 Cr GST credits with going-concern emphasis as company has no EPC contract in hand. Rs 213 Cr NCD dues unpaid at 30 Sep 2026 with extension sought; SIPL NCDs fully repaid 21 Jul 2026 and IBC pleas withdrawn.