The National Company Law Tribunal (NCLT) has approved the merger between Inox Infrastructure and GFL, according to reports from ET Now. This regulatory clearance represents a significant milestone in the consolidation process between the two infrastructure companies. The merger scheme for wholly owned subsidiary INOX Infrastructure Limited was approved by the Board, with a joint petition filed with the NCLT Mumbai Bench that was admitted on June 25, 2026.
The merger brings together Inox Infrastructure's operations with those of GFL, creating a combined entity in the infrastructure sector. As reported by ET Now, this consolidation represents a strategic move in the infrastructure industry, though specific details about the merger structure and financial terms were not disclosed in the regulatory filing. The merger is subject to statutory approvals and is expected to be effective from April 1, 2026.
GFL reported a standalone PAT of ₹163.4 lakh for FY26, recovering from a loss of ₹3,402.7 lakh in FY25. Revenue from operations increased to ₹368.0 lakh, up from ₹331.6 lakh in the previous year, driven by higher fees and commission income. The company's operating profit margin stood at 55.6%, down from 61.5% in the prior year, reflecting higher total expenses which rose to ₹163.6 lakh from ₹128.0 lakh. Net gain on fair value changes contributed ₹103.4 lakh to revenue, while fees and commission income climbed to ₹264.6 lakh from ₹224.6 lakh.
During the year, Mr. Pavan Kumar Jain was redesignated as Chairman and Managing Director effective February 12, 2026, following the demise of the erstwhile Chairman, Mr. Devendra Kumar Jain, in December 2025. Mr. Siddharth Jain retires by rotation at the upcoming AGM and offers himself for re-appointment. The company has scheduled its 39th AGM for September 23, 2026, to transact ordinary business including the adoption of audited financial statements for FY26.
