Integrated Filing — IndAS



General information about company
Scrip Code 532532
NSE Symbol JPASSOCIAT
MSEI Symbol NOTLISTED
ISIN INE455F01025
Name of company JAIPRAKASH ASSOCIATES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 30-Jun-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 25-Jun-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 30-Jun-2025   20:00:00
End date and time of board meeting 30-Jun-2025   21:55:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public No
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. No
Whether the company is a high value debt listed entity according to regulation 15 (1A)? Yes
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication? Yes
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2022-02-12
Indicate Company website link for updated RPT policy of the Company http://jalindia.com/attachment/Related_Party_Transactions_Policy_10082022.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? Yes



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 6957200000 31172900000
Other income 771300000 2896000000
Total income 7728500000 34068900000
2 Expenses
(a) Cost of materials consumed 1364800000 6404900000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 148700000 419800000
(d) Employee benefit expense 1046700000 4269500000
(e) Finance costs 1918700000 9727300000
(f) Depreciation, depletion and amortisation expense 758200000 4492500000
(f) Other Expenses
1 Direct Construction, Manufacturing, Real Estate, Hotel/Hospitality, Event & Power Expenses 3398000000 15104500000
2 Other Expenses 1562500000 5077600000
Total other expenses 4960500000 20182100000
Total expenses 10197600000 45496100000
3 Total profit before exceptional items and tax -2469100000 -11427200000
4 Exceptional items -26122800000 -37870100000
5 Total profit before tax -28591900000 -49297300000
6 Tax expense
7 Current tax 2100000 36300000
8 Deferred tax 0 0
9 Total tax expenses 2100000 36300000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -28594000000 -49333600000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -28594000000 -49333600000
17 Other comprehensive income net of taxes 158700000 158700000
18 Total Comprehensive Income for the period -28435300000 -49174900000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 4909200000 4909200000
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve -17164000000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -11.65 -20.1
Diluted earnings (loss) per share from continuing operations -11.65 -20.1
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -11.65 -20.1
Diluted earnings (loss) per share from continuing and discontinued operations -11.65 -20.1
24 Debt equity ratio -0.2364 -0.2364
25 Debt service coverage ratio -0.0954 -0.0279
26 Interest service coverage ratio -0.1347 -0.0372
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 53690600000
Capital work-in-progress 899200000
Investment property 0
Goodwill 0
Other intangible assets 21400000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 30666100000
Trade receivables, non-current 15941700000
Loans, non-current 0
Other non-current financial assets 1929800000
Total non-current financial assets 48537600000
Deferred tax assets (net) 0
Other non-current assets 16310200000
Total non-current assets 119459000000
2 Current assets
Inventories 168904300000
Current financial asset
Current investments 0
Trade receivables, current 11668800000
Cash and cash equivalents 5018800000
Bank balance other than cash and cash equivalents 3910300000
Loans, current 0
Other current financial assets 14358500000
Total current financial assets 34956400000
Current tax assets (net) 0
Other current assets 19941800000
Total current assets 223802500000
3 Non-current assets classified as held for sale 10000000000
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 353261500000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 4909200000
Other equity -17164000000
Total equity attributable to owners of parent -12254800000
Non controlling interest
Total equity -12254800000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 133926700000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 797900000
Total Trade payable 797900000
Other non-current financial liabilities 92229200000
Total non-current financial liabilities 226953800000
Provisions, non-current 697300000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 1115400000
Total non-current liabilities 228766500000
Current liabilities
Current financial liabilities
Borrowings, current 27959300000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 306300000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 14323600000
Total Trade payable 14629900000
Other current financial liabilities 62735900000
Total current financial liabilities 105325100000
Other current liabilities 23095600000
Provisions, current 8329100000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 136749800000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 365516300000
Total equity and liabilites 353261500000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Construction 4015400000 16048900000
2 Hotel/Hospitality & Golf Course 1282100000 4211400000
3 Real Estate 1333800000 8353500000
4 Investments 0 0
5 Cement 11400000 1716400000
6 Power 100000 -3900000
7 Other 487000000 1053100000
8 Un-allocated 102800000 160000000
Total Segment Revenue 7232600000 31539400000
Less: Inter segment revenue 275400000 275400000
Revenue from operations 6957200000 31172900000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Construction -295900000 324200000
2 Hotel/Hospitality & Golf Course 382800000 919600000
3 Real Estate -472100000 105100000
4 Investments 478100000 955700000
5 Cement -629300000 -3263700000
6 Power -212000000 -1326100000
7 Other 121500000 90500000
8 Un-allocated 0 0
Total Profit before tax -626900000 -2194700000
i. Finance cost 1918700000 1918700000
ii. Other Unallocable Expenditure net off Unallocable income -76500000 -76500000
Profit before tax -2469100000 -11427200000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Construction 48264200000 48264200000
2 Hotel/Hospitality & Golf Course 7470000000 7470000000
3 Real Estate 202941600000 202941600000
4 Investments 30666100000 30666100000
5 Cement 35186600000 35186600000
6 Power 16132500000 16132500000
7 Other 1053700000 1053700000
8 Un-allocated 0 0
Total Segment Asset 341714700000 341714700000
Un-allocable Assets 11546800000 11546800000
Net Segment Asset 353261500000 353261500000
4 Segment Liabilities
Segment Liabilities
1 Construction 14145100000 14145100000
2 Hotel/Hospitality & Golf Course 2675300000 2675300000
3 Real Estate 35930600000 35930600000
4 Investments 0 0
5 Cement 7875200000 7875200000
6 Power 2021200000 2021200000
7 Other 538800000 538800000
8 Un-allocated 0 0
Total Segment Liabilities 63186200000 63186200000
Un-allocable Liabilities 302330100000 302330100000
Net Segment Liabilities 365516300000 365516300000
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to Profit/(Loss) 158700000 158700000
Total Amount of items that will not be reclassified to profit and loss 158700000 158700000
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income 158700000 158700000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -49297300000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 9727300000
Adjustments for decrease (increase) in inventories 3243000000
Adjustments for decrease (increase) in trade receivables, current 3487400000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 3658600000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -5593400000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 4492500000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 1019700000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 1316500000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) -986700000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) -381600000
Other adjustments for non-cash items 37870100000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 55220400000
Net cash flows from (used in) operations 5923100000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 628500000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 5294600000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 461400000
Purchase of property, plant and equipment 1175100000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 540700000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -2713600000
Net cash flows from (used in) investing activities -2886600000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 1965300000
Payments of lease liabilities 48500000
Dividends paid 0
Interest paid 1242900000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -3256700000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -848700000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -848700000
Cash and cash equivalents cash flow statement at beginning of period 5867500000
Cash and cash equivalents cash flow statement at end of period 5018800000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Disclaimer of opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Dass Gupta & Associates Yes 31-Jul-2027


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 34068900000 34068900000
2 Total Expenditure 45496100000 49300400000
3 Net Profit/(Loss) -49297300000 -53101600000
4 Earnings Per Share -20.1 -21.65
5 Total Assets 353261500000 353261500000
6 Total Liabilities 365516300000 369320600000
7 Net Worth -12254800000 -16059100000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Disclaimer of opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Disclaimer of opinion Whether appeared first time Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)


Text Block
Textual Information(1) n(iii)tWe refer to Note No. 13 to the Statement which provides the Company has not made provision for interest payable on Foreign Currency Convertible Bonds (FCCB) for the quarter and year ended on 31.03.2025 amounting to Rs. 14.57 crores and Rs. 68.88 crores respectively. Further, the company has also not made provision for Interest on FCCB till 31.03.2024 amounting to Rs. 311.55 crores. The note further states that requisite accounting adjustments for differential amounts between the claims of FCCB Holders and amount reflecting in Standalone Financial Results will be made in the Standalone Financial Results per the provisions of the IBC, post implementation of the approved Resolution plan, if any. n nIn view of the above, we are unable to comment on consequential impact of the above subjected matters on the Standalone Financial Results. n n
Textual Information(2) Management Response to the Disclaimer of Opinion (iii):- n nThe Company has outstanding Foreign Currency Convertible Bonds (FCCB) aggregating to USD 75.34 million equivalent to INR 648 Crores as at 31.03.2025. The above is in view that before initiation of CIRP there were ongoing discussions with the Bondholders for settlement/ conversion of the outstanding FCCBs into equity and waiver of interest. Now the same will be dealt as per provision of IBC, post implementation of approved resolution plan requisite accounting adjustment will be made in the books of accounts. n
Textual Information(3) Managements estimations on the impact of Audit qualifications : n nResponse : Not Ascertainable for Disclaimer of Opinion S.No (i), (ii), (iv) & (v) n
Textual Information(4) NA n
Textual Information(5) Auditors Comments on (i) or (ii) above n nResponse : As stated management response to above the impact of the matters stated in disclaimer of opinion (i), (ii), (iv) & (v) can not be ascertained and the same is mentioned in our report. n
Textual Information(6) n n(i)tWe refer to Note No. 2 & 3(a) to the Statement which states that RP has invited creditors of the company to submit their claims to the RP in terms of the applicable provisions of Insolvency & Bankruptcy Code, 2016 (IBC). And, the note further states that Scheme of Arrangement for transfer to SPV has since been rejected by Hon'ble National Company Law Tribunal (NCLT) vide its order dated 03.06.2024 and by Hon'ble National Company Law Appellate Tribunal (NCLAT) vide its order dated 06.12.2024. The Company has also received intimation from National Asset Reconstruction Company Limited (NARCL) dated 11.03.2025 regarding assignment of certain borrowing by Company from some lenders. The note also states that the figures of claims including borrowings may be different than the amount reflecting in the books of accounts of the Company and claims will be dealt as per the provisions of the IBC, post implementation of the approved Resolution plan and requisite accounting adjustments will be made in the Standalone Financial Results. Hence, requisite accounting adjustments arising out of the claim verification and submission process, will be given effect to in subsequent periods post implementation of approved Resolution Plan. n nIn view of above, we are unable to comment on the completeness and appropriateness of the balances in relation to these subjected matters in the Standalone Financial Results and consequential impact that the outcome of these matters may have on the Standalone Financial Results and liabilities recognised so far. n n(ii)tWe refer to Note No. 3(b) to the Statement which states that pursuant to the order by Hon'ble NCLT dated 22.07.2024 initiating commencement of Corporate Insolvency Resolution Process (CIRP) in JCCL (a wholly owned subsidiary of the Company) and upheld by Hon'ble NCLAT vide its order dated 30.05.2025 and appointment of an Interim Resolution Processional (IRP) in terms of the IBC. The debts which were transferred to the Company by JCCL as part of CRRP in earlier years are now transferred back to JCCL during the current quarter by the Company. Further, the company had filed claim towards amount receivables with Interim Resolution Professional of JCCL. The Company has made investments in JCCL amounts to Rs. 2,692.36 crores, given corporate guarantee & shortfall undertaking amounts to Rs. 514.49 crores, given Bank Guarantee amounting to Rs. 65.34 crores and payables (net) to JCCL amounting to Rs. 719.54 crores. The Company has provided Impairment on investments made in JCCL amounting to Rs. 2,692.36 crores during the current quarter. The Company has not ascertained/made any provision for corporate guarantee & shortfall undertaking and Bank Guarantee. n nIn view of above, we are unable to comment on the completeness and appropriateness of the balances in relation to these subjected matters in the Standalone Financial Results and consequential impact that the outcome of these matters may have on the Standalone Financial Results. n n(iv)tWe refer to Note no. 6 to Statement which describes matter related to order of cancellation of lease deeds of land located at Special Development Zone (SDZ) dated 12.02.2020 by Yamuna Expressway Industrial Development Authority (YEIDA), which has been upheld by Hon'ble Allahabad High Court vide its Order dated 10.03.2025 whereby certain other directions were given in respect of Home Buyers, Financial Institutions, Sub Lessess etc. and directed refund of deposit along with interest. The said note further states that the Company has filed appeal against the said Hon'ble Allahabad High Court order dated 10.03.2025 with the Hon'ble Supreme Court. The Hon'ble Supreme Court vide its order dated 19.05.2025 has served notice to YEIDA for filing its response. YEIDA has since filed its response. The matter was last heard on 19.05.2025 with the directions that decision taken by YEIDA and committee formed by Allahabad High Court will not be given effect till next date of hearing, which is 29.07.2025. In view of the above and based on the legal opinion, the company has shown the Land and other Assets i.e. Race Track, Buildings etc. as Assets of the Company and balance amount payable by the Company to YEIDA as liability and no other impact pursuant to Hon'ble Allahabad High Court Order dated 10.03.2025 including interest on deposit receivable by Company from YEIDA has been given in the financial results during the pendency of the appeals before Hon'ble Supreme Court. n nIn view of above, we are unable to comment on the completeness and appropriateness of the balances in relation to these subjected matters in the Standalone Financial Results and consequential impact that the outcome of these matters may have on the Standalone Financial Results. n n(v)tWe have been informed that information in relation to the Corporate Insolvency Resolution Process (CIRP), including minutes of meetings of Committee of Creditors, and the outcome of procedures carried out by the RP as a part of the CIRP are confidential in nature and accordingly have not been provided to us. n nAccordingly, we are unable to comment on the potential impact of the above subjected matters, if any, on the Standalone Financial Results. n
Textual Information(7) Management Response to the Disclaimer of Opinion (i):- n nAs stated in Note No. 2 and 3 (a) to the statement, the CIRP process is still underway. Impact of the same could be ascertained on completion of CIRP and requisite accounting adjustment shall be made thereafter. n n nManagement Response to the Disclaimer of Opinion (ii):- n nAs stated in Note No. 3(b) to the statement, CIRP has been initiated in JCCL (Wholly Owned Subsidiary of the Company). The Company has fully impaired its investment in the Company. However, the impact is not ascertainable for the amount of Corporate Guarantee & shortfall undertaking as well as for the bank guarantees given on behalf of JCCL from the Non Fund Based Limits of the Company as currently CIRP proceedings are underway. n nManagement Response to the Disclaimer of Opinion (iv):- nAs stated in Note No 6 to the statement, the matter is still Sub-Judice with Honble Supreme Court. In view of the SLP filed, Hon'ble Supreme Court Order dated 19.05.2025 and based on the legal opinion that JAL has an arguable case, the carrying value of the Land and other Assets i.e. Race Track, Buildings etc is continued to be shown as an Asset of the Company and balance amount payable by the Company to YEIDA as liability and no other impact pursuant to Honble High Court Order dated 10.03.2025 including interest on deposit receivable by Company from YEIDA has been given in the financial statements during the pendency of the appeals. n nManagement Response to the Disclaimer of Opinion (v):- n nThe same could not be provided being confidential and restricted as per IBC regulations. n n n
Textual Information(8) Managements estimations on the impact of Audit qualifications : n nResponse : Not Ascertainable for Disclaimer of Opinion S.No (i), (ii), (iv) & (v) n
Textual Information(9) Management Response to the Disclaimer of Opinion (i):- n nAs stated in Note No. 2 and 3 (a) to the statement, the CIRP process is still underway. Impact of the same could be ascertained on completion of CIRP and requisite accounting adjustment shall be made thereafter. n nManagement Response to the Disclaimer of Opinion (ii):- n nAs stated in Note No. 3(b) to the statement, CIRP has been initiated in JCCL (Wholly Owned Subsidiary of the Company). The Company has fully impaired its investment in the Company. However, the impact is not ascertainable for the amount of Corporate Guarantee & shortfall undertaking as well as for the bank guarantees given on behalf of JCCL from the Non Fund Based Limits of the Company as currently CIRP proceedings are underway. n nManagement Response to the Disclaimer of Opinion (iv):- nAs stated in Note No 6 to the statement, the matter is still Sub-Judice with Honble Supreme Court. In view of the SLP filed, Hon'ble Supreme Court Order dated 19.05.2025 and based on the legal opinion that JAL has an arguable case, the carrying value of the Land and other Assets i.e. Race Track, Buildings etc is continued to be shown as an Asset of the Company and balance amount payable by the Company to YEIDA as liability and no other impact pursuant to Honble High Court Order dated 10.03.2025 including interest on deposit receivable by Company from YEIDA has been given in the financial statements during the pendency of the appeals. n nManagement Response to the Disclaimer of Opinion (v):- n nThe same could not be provided being confidential and restricted as per IBC regulations. n
Textual Information(10) Auditors Comments on (i) or (ii) above n nResponse : As stated management response to above the impact of the matters stated in disclaimer of opinion (i), (ii), (iv) & (v) can not be ascertained and the same is mentioned in our report. n


Signatories detail
Name of CEO / Managing director Bhuvan Madan (Resolution Professional)
Name of CFO Sudhir Rana
Name of audit committee chairman Bhuvan Madan (Resolution Professional)
Name of statutory auditor Naveen D. Gupta
Name of other signatory, if any, with designation
Place Noida
Date 30-Jun-2025


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 Jaiprakash Associates Limited Bhilai Jaypee Cement Limited Subsidiary Sale of goods or services 10000000 NIL 0 66800000 66800000
2 Jaiprakash Associates Limited CEEKAY ESTATES PRIVATE LIMITED Other Related Company Sale of goods or services 10000000 NIL 0 2800000 2800000
3 Jaiprakash Associates Limited Gaur & Nagi Limited Other Related Company Purchase of goods or services 30000000 NIL 0 -1000000 -900000
4 Jaiprakash Associates Limited Himalyan Expressway Limited Subsidiary Any other transaction Receivable 0 NIL 0 1193900000 1193900000
5 Jaiprakash Associates Limited Himalyaputra Aviation Limited Subsidiary Sale of goods or services 25000000 NIL 11600000 19000000 17100000
6 Jaiprakash Associates Limited Himalyaputra Aviation Limited Subsidiary Purchase of goods or services 90000000 NIL 62900000 -100800000 -110700000
7 Jaiprakash Associates Limited Resurgent India Food & Fuel Service Private Limited Other Related Company Sale of goods or services 10000000 NIL 400000 0 0
8 Jaiprakash Associates Limited Bharat Digital Education Pvt Limited Other Related Company Sale of goods or services 10000000 NIL 1700000 0 -400000
9 Jaiprakash Associates Limited Jaiprakash Agri Initiatives Company Limited Subsidiary Any other transaction Receivable 0 NIL 0 117700000 117700000
10 Jaiprakash Associates Limited Jaiprakash Power Ventures Limited Associate Sale of goods or services 933000000 NIL 405500000 -433400000 -198600000
11 Jaiprakash Associates Limited Jaiprakash Power Ventures Limited Associate Sale of goods or services 420000000 NIL 138100000 40100000 51600000
12 Jaiprakash Associates Limited Jaiprakash Power Ventures Limited Associate Purchase of goods or services 50000000 NIL 29600000 0 0
13 Jaiprakash Associates Limited Jaypee Agra Vikas Limited Subsidiary Any other transaction Payable 0 NIL 0 -1228300000 -1228300000
14 Jaiprakash Associates Limited Jaypee Assam Cement Ltd. Subsidiary Any other transaction Receivable 0 NIL 0 10700000 10700000
15 Jaiprakash Associates Limited Jaypee Arunachal Power Limited Associate Any other transaction Payable 0 NIL 0 -600000 -600000
16 Jaiprakash Associates Limited Jaypee Cement Corporation Limited Subsidiary Sale of goods or services 45000000 NIL 12900000 1362100000 1216600000
17 Jaiprakash Associates Limited Jaypee Cement Corporation Limited Subsidiary Purchase of goods or services 184000000 NIL 78600000 0 0
18 Jaiprakash Associates Limited Jaypee Cement Corporation Limited Subsidiary Purchase of goods or services 0 NIL 0 -6500000 -8412000000
19 Jaiprakash Associates Limited Jaypee Cement Hockey (India) Limited Subsidiary Any other transaction Receivable 0 NIL 0 273700000 273700000
20 Jaiprakash Associates Limited Jaypee Ganga Infrastructure Corporation Limited Subsidiary Any other transaction Payable 0 NIL 0 -29300000 -29300000
21 Jaiprakash Associates Limited Jaypee Hotels Limited Other Related Company Sale of goods or services 12800000 NIL 2500000 -224700000 -224100000
22 Jaiprakash Associates Limited Jaypee Hotels Limited Other Related Company Purchase of goods or services 350000000 NIL 217400000 -2900000 -22400000
23 Jaiprakash Associates Limited Jaypee Hotels Limited Other Related Company Any other transaction Payable 0 NIL 0 -200000000 -200000000
24 Jaiprakash Associates Limited Jaypee Infra Ventures Private Limited Entity with significant influence over the Company Purchase of goods or services 325000000 NIL 194700000 -76800000 -68700000
25 Jaiprakash Associates Limited Jaypee Infra Ventures Private Limited Entity with significant influence over the Company Sale of goods or services 10000000 NIL 100000 -9700000 -10200000
26 Jaiprakash Associates Limited Jaypee Infrastructure Development Limited Subsidiary Any other transaction Receivable 0 NIL 0 5000000 5000000
27 Jaiprakash Associates Limited JC World Hospitality Pvt. Limited Other Related Company Any other transaction Receivable 0 NIL 0 37100000 37100000
28 Jaiprakash Associates Limited JIL Information Technology Limited Other Related Company Purchase of goods or services 150000000 NIL 62100000 -41100000 -39100000
29 Jaiprakash Associates Limited JIL Information Technology Limited Other Related Company Sale of goods or services 10000000 NIL 1600000 -379800000 -379400000
30 Jaiprakash Associates Limited Kanpur Fertilizer & Chemical Limited Subsidiary Purchase of goods or services 10000000 NIL 200000 -400000 0
31 Jaiprakash Associates Limited Kanpur Fertilizer & Chemical Limited Subsidiary Sale of goods or services 10000000 NIL 400000 0 82100000
32 Jaiprakash Associates Limited Kanpur Fertilizer & Chemical Limited Subsidiary Any other transaction Payable 0 NIL 0 -1586300000 -1588600000
33 Jaiprakash Associates Limited Bhilai Jaypee Cement Limited Subsidiary Purchase of goods or services 0 NIL 0 6605900000 6605500000
34 Jaiprakash Associates Limited Mahabhadra Construction Limited Other Related Company Purchase of goods or services 300000000 NIL 130800000 -11100000 -40100000
35 Jaiprakash Associates Limited Mahabhadra Construction Limited Other Related Company Sale of goods or services 0 NIL 0 700000 700000
36 Jaiprakash Associates Limited Himalyan Expressway Limited Subsidiary Loan 0 NIL 0 1269100000 1269100000
37 Jaiprakash Associates Limited JAL KDSPL - JV Other Related Company Any other transaction Receivable 0 NIL 0 1000000 1000000
38 Jaiprakash Associates Limited Madhya Pradesh Jaypee Minerals Limited Associate Any other transaction Receivable 0 NIL 0 115400000 115400000
39 Jaiprakash Associates Limited MP Jaypee Coal Limited Associate Any other transaction Receivable 0 NIL 0 959700000 959700000
40 Jaiprakash Associates Limited MP Jaypee Coalfield Limited Associate Any other transaction Payable 0 NIL 0 0 -1400000
41 Jaiprakash Associates Limited RPJ Minerals Private Limited Associate Any other transaction Receivable 0 NIL 0 59800000 59800000
42 Jaiprakash Associates Limited Sangam Power Generation Company Limited Associate Any other transaction Receivable 0 NIL 0 24800000 24800000
43 Jaiprakash Associates Limited Sonebhadra Minerals Private Limited Associate Any other transaction Receivable 0 NIL 0 2900000 2900000
44 Jaiprakash Associates Limited Tiger Hills Holiday Resort Private Limited Other Related Company Any other transaction Receivable 0 NIL 0 9300000 9300000
45 Jaiprakash Associates Limited Yamuna Expressway Tolling Limited Subsidiary Any other transaction Receivable 0 NIL 0 2200000 2200000
46 Jaiprakash Associates Limited Jaypee Infra Ventures Private Limited Entity with significant influence over the Company Any other transaction Security Deposit 0 NIL 0 14606000000 14606000000
47 Jaiprakash Associates Limited Jaypee Cement Corporation Limited Subsidiary Any other transaction Corporate Guarantee given - Outstanding 0 NIL 0 5009700000 5144900000
48 Jaiprakash Associates Limited MP Jaypee Coal Limited Associate Any other transaction Corporate Guarantee given - Outstanding 0 NIL 0 371764000 395000000
49 Jaiprakash Associates Limited Jaiprakash Power Ventures Limited Associate Any other transaction Corporate Guarantee taken - Outstanding 0 NIL 0 12306200000 12613400000
50 Jaiprakash Associates Limited Shri Manoj Gaur Key Management Personnel Remuneration 0 NIL 11700000 -1700000 -1100000
51 Jaiprakash Associates Limited Shri Pankaj Gaur Key Management Personnel Remuneration 0 NIL 7800000 -1900000 -1800000
52 Jaiprakash Associates Limited Shri Sudhir Rana Key Management Personnel Remuneration 0 NIL 3000000 -600000 -300000
53 Jaiprakash Associates Limited Shri Som Nath Grover Key Management Personnel Remuneration 0 NIL 2400000 -400000 -400000
54 Jaiprakash Associates Limited Shri Naveen Kumar Singh Key Management Personnel Remuneration 0 NIL 7000000 -800000 -600000
55 Jaiprakash Associates Limited Shri Naveen Kumar Singh Key Management Personnel Any other transaction Collection Received 0 NIL 67100000 0 0
56 Jaiprakash Associates Limited Shri Praveen Kumar Singh Relative of Key Management Personnel Any other transaction Collection Received 0 NIL 67100000 0 0
57 Jaiprakash Associates Limited Shri Ranvijay Singh Relative of Key Management Personnel Any other transaction Collection Received 0 NIL 74000000 0 0
58 Jaiprakash Associates Limited Shri Manoj Gaur Key Management Personnel Any other transaction Personal Guarantee taken - Outstanding 0 NIL 0 36059700000 29893900000
59 Jaiprakash Associates Limited Shri Sunil Kumar Sharma Key Management Personnel Any other transaction Personal Guarantee taken - Outstanding 0 NIL 0 4718400000 4833300000
Total value of transaction during the reporting period 1591200000





Format for Disclosing Outstanding Default on Loans and Debt Securities
Sr. No. Particulars Amount Remarks
1. Loans / revolving facilities like cash credit from banks / financial institutions
A Total amount outstanding as on date 0 As the Company is undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 (IBC). All the lenders are in the process of filing their claims and the same are under verification.
B Of the total amount outstanding, amount of default as on date 0 As the Company is undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 (IBC). All the lenders are in the process of filing their claims and the same are under verification.
2. Unlisted debt securities i.e. NCDs and NCRPS
A Total amount outstanding as on date 0 NA
B Of the total amount outstanding, amount of default as on date 0 NA
3. Total financial indebtedness of the listed entity including short-term and long-term debt 554077184000