Delta Corp Limited

Amusement Parks/ Other Recreation

Annual Returns

Cumulative Returns and Drawdowns

Fundamentals

Ownership

Margined

AI Summary

asof: 2026-09-18

Delta Corp Limited — Recent Corporate Announcements

1. Headwinds and Challenges

GST provision recognised in Q1 FY2026-27 Following the Hon’ble Supreme Court judgment dated 27 May 2026 on the “value of supply” matter under applicable GST regulations, the Company recognised a provision of ₹200.62 Crore (standalone), including interest and penalty, in the quarter ended 30 June 2026. At the consolidated level, the Group recognised a provision of ₹306.73 Crore, including interest and penalty, in the same quarter.

Ongoing GST proceedings The GST matters remain subject to ongoing proceedings. While the “value of supply” matter has resulted in a provision following the Supreme Court judgment, a separate “mixed supply” matter under applicable GST regulations remains live, with the management stating it is confident of a favourable outcome based on legal assessment.

Quorum shortfall at the Unsecured Creditors’ meeting At the meeting of Unsecured Creditors convened on 13 August 2026 pursuant to the NCLT Order dated 18 June 2026, no valid quorum was present initially. The meeting had to be adjourned for 30 minutes, after which 10 unsecured creditors joined virtually and the meeting was called to order.

Losses at certain subsidiaries The consolidated review report notes that 9 subsidiaries whose interim financial results were not reviewed by the principal auditor reflected total revenues of ₹35.40 Crore, a total net loss after tax of ₹(87.16) Crore, and total comprehensive loss of ₹(87.09) Crore for the quarter ended 30 June 2026. A further subsidiary, whose results were not reviewed by its auditor, reflected total revenues of ₹Nil, a net loss after tax of ₹(1.52) Crore, and total comprehensive loss of ₹(1.52) Crore for the same quarter.

2. Tailwinds and Growth Prospects

Composite Scheme of Arrangement progressing through NCLT process The Company is pursuing a proposed Composite Scheme of Arrangement amongst Delta Corp Limited, Deltin Hotel & Resorts Private Limited, Delta Penland Limited, and Deltin Cruises and Entertainment Private Limited, and their respective shareholders and creditors, under Sections 230 to 232 read with Section 66 of the Companies Act, 2013. Pursuant to the NCLT Order dated 18 June 2026, meetings of Unsecured Creditors and Equity Shareholders were convened on 13 August 2026. Both meetings approved the item of business with the requisite majority as prescribed under Section 230(6) of the Companies Act, 2013 (majority of persons representing three-fourths in value). No unsecured creditor raised any query on the Scheme.

Dividend continuity The Board of Directors, at its meeting held on 22 April 2026, recommended a Final Dividend of ₹0.50 per share, subject to shareholder approval at the ensuing AGM. The Board subsequently fixed Monday, 17 August 2026 as the record date for ascertaining entitlement for payment of the Final Dividend, if approved. At the 35th AGM held on 10 September 2026, a dividend of 50% (₹0.50 per equity share of Re. 1/- each) was declared for the financial year ended 31 March 2026.

Group entity additions The consolidated financial results include Shanta Infratech Private Limited and Easymile Parking Solutions & Management Private Limited with effect from 30 April 2026, expanding the group’s consolidated perimeter.

3. Key Risks

GST exposure The GST proceedings represent a material risk. The “value of supply” matter has already resulted in a substantial provision (₹200.62 Crore standalone; ₹306.73 Crore consolidated, including interest and penalty). The “mixed supply” matter remains unresolved, with management expressing confidence in a favourable outcome based on legal assessment.

Scheme implementation risk The Composite Scheme of Arrangement remains subject to the NCLT process. While the Unsecured Creditors and Equity Shareholders have approved the Scheme with the requisite majority, the Scheme’s completion depends on further regulatory and tribunal approvals.

Subsidiary performance Certain subsidiaries within the Group are reporting losses, which weigh on consolidated performance.

Reliance on other auditors and unreviewed results The consolidated review report notes reliance on other auditors for 9 subsidiaries, an associate, and 2 joint ventures, and on unreviewed interim financial results for one subsidiary and 2 joint ventures. These entities are stated to be not material to the Group.

4. Management Guidance Versus Observed Business Performance

Dividend guidance The Board recommended a Final Dividend of ₹0.50 per share on 22 April 2026, subject to shareholder approval. The record date was fixed as 17 August 2026. At the 35th AGM on 10 September 2026, shareholders declared a dividend of 50% (₹0.50 per equity share of Re. 1/- each) for the financial year ended 31 March 2026. The recommendation was carried through to declaration.

GST “mixed supply” matter Management has stated it is confident of a favourable outcome in the “mixed supply” matter based on legal assessment. No adjustment has been made in the financial statements in respect of this matter, and the auditor’s conclusion is not modified in respect of it. The outcome remains pending.

Scheme approval The Scheme was placed before Unsecured Creditors and Equity Shareholders on 13 August 2026 pursuant to the NCLT Order dated 18 June 2026. Both meetings approved the resolution with the requisite majority. The Company stated that consolidated voting results along with the Scrutinizer’s Report would be declared within 2 working days from the conclusion of the meetings and would be displayed on the Company’s website, the noticeboard at the Registered Office, the Registrar and Transfer Agent’s website, and intimated to the Stock Exchanges within the stipulated time.

AGM and auditor re-appointment The 35th AGM was convened on Thursday, 10 September 2026 through VC/OAVM. Shareholders approved the re-appointment of Mr. Jaydev Mody as Director and M/s. M S K C & Associates LLP as Statutory Auditors.

DELTACORP

Equity Metrics

October 23, 2026