General information about company |
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|---|---|---|---|
| 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 | Consolidated | ||
| 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 | ||
Financial Results Ind-AS |
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|---|---|---|---|
| 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 | Consolidated | Consolidated |
| 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 | 11372800000 | 57957700000 | |
| Other income | 1122500000 | 3476500000 | |
| Total income | 12495300000 | 61434200000 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 4980600000 | 26111600000 |
| (b) | Purchases of stock-in-trade | 0 | 206300000 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | -7000000 | 682200000 |
| (d) | Employee benefit expense | 1332900000 | 5398600000 |
| (e) | Finance costs | 3008800000 | 11602200000 |
| (f) | Depreciation, depletion and amortisation expense | 1057300000 | 5765000000 |
| (f) | Other Expenses | ||
| 1 | Direct Construction, Manufacturing, Real Estate, Infrastructure, Hotel/Hospitality, Event & Power Expenses | 4327700000 | 19986200000 |
| 2 | Other Expenses | 2674500000 | 7159900000 |
| Total other expenses | 7002200000 | 27146100000 | |
| Total expenses | 17374800000 | 76912000000 | |
| 3 | Total profit before exceptional items and tax | -4879500000 | -15477800000 |
| 4 | Exceptional items | -3048000000 | -14772600000 |
| 5 | Total profit before tax | -7927500000 | -30250400000 |
| 6 | Tax expense | ||
| 7 | Current tax | 2300000 | 39400000 |
| 8 | Deferred tax | -582400000 | -520900000 |
| 9 | Total tax expenses | -580100000 | -481500000 |
| 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 | -7347400000 | -29768900000 |
| 12 | Profit (loss) from discontinued operations before tax | -328200000 | -400700000 |
| 13 | Tax expense of discontinued operations | 0 | 0 |
| 14 | Net profit (loss) from discontinued operation after tax | -328200000 | -400700000 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 367900000 | 1940700000 |
| 16 | Total profit (loss) for period | -7307700000 | -28228900000 |
| 17 | Other comprehensive income net of taxes | 153200000 | 151400000 |
| 18 | Total Comprehensive Income for the period | -7154500000 | -28077500000 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | -6606700000 | -27412100000 | |
| Total profit or loss, attributable to non-controlling interests | -701000000 | -816800000 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 154300000 | 152900000 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | -1100000 | -1500000 | |
| 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 | -58111700000 | |
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -2.56 | -11.01 | |
| Diluted earnings (loss) per share from continuing operations | -2.56 | -11.01 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | -0.13 | -0.16 | |
| Diluted earnings (loss) per share from discontinued operations | -0.13 | -0.16 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | -2.69 | -11.17 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -2.69 | -11.17 | |
| 24 | Debt equity ratio | -0.059 | -0.059 |
| 25 | Debt service coverage ratio | -0.0107 | -0.0074 |
| 26 | Interest service coverage ratio | -0.0136 | -0.0094 |
| 27 | Disclosure of notes on financial results | ||
Remarks |
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|---|---|
| Debt equity ratio | |
| Debt service coverage ratio | |
| Interest service coverage ratio | |
Statement of Asset and Liabilities |
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|---|---|---|---|
| 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 | Consolidated | ||
| Assets | |||
| 1 | Non-current assets | ||
| Property, plant and equipment | 69429300000 | ||
| Capital work-in-progress | 3045800000 | ||
| 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 | 6095400000 | ||
| Trade receivables, non-current | 15943000000 | ||
| Loans, non-current | 0 | ||
| Other non-current financial assets | 2544600000 | ||
| Total non-current financial assets | 24583000000 | ||
| Deferred tax assets (net) | 0 | ||
| Other non-current assets | 12363800000 | ||
| Total non-current assets | 109443300000 | ||
| 2 | Current assets | ||
| Inventories | 164411600000 | ||
| Current financial asset | |||
| Current investments | 0 | ||
| Trade receivables, current | 12193600000 | ||
| Cash and cash equivalents | 5996500000 | ||
| Bank balance other than cash and cash equivalents | 6349800000 | ||
| Loans, current | 0 | ||
| Other current financial assets | 16401300000 | ||
| Total current financial assets | 40941200000 | ||
| Current tax assets (net) | 53900000 | ||
| Other current assets | 19533100000 | ||
| Total current assets | 224939800000 | ||
| 3 | Non-current assets classified as held for sale | 11637800000 | |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | 0 | |
| Total assets | 346020900000 | ||
| Equity and liabilities | |||
| 1 | Equity | ||
| Equity attributable to owners of parent | |||
| Equity share capital | 4909200000 | ||
| Other equity | -58111700000 | ||
| Total equity attributable to owners of parent | -53202500000 | ||
| Non controlling interest | -1326000000 | ||
| Total equity | -54528500000 | ||
| 2 | Liabilities | ||
| Non-current liabilities | |||
| Non-current financial liabilities | |||
| Borrowings, non-current | 134223100000 | ||
| 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 | 798100000 | ||
| Total Trade payable | 798100000 | ||
| Other non-current financial liabilities | 92485900000 | ||
| Total non-current financial liabilities | 227507100000 | ||
| Provisions, non-current | 992800000 | ||
| Deferred tax liabilities (net) | 846200000 | ||
| Deferred government grants, Non-current | 0 | ||
| Other non-current liabilities | 1115300000 | ||
| Total non-current liabilities | 230461400000 | ||
| Current liabilities | |||
| Current financial liabilities | |||
| Borrowings, current | 45351800000 | ||
| Trade payables, current | |||
| (A) Total outstanding dues of micro enterprises and small enterprises | 375100000 | ||
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 20591400000 | ||
| Total Trade payable | 20966500000 | ||
| Other current financial liabilities | 70453400000 | ||
| Total current financial liabilities | 136771700000 | ||
| Other current liabilities | 24285900000 | ||
| Provisions, current | 8355500000 | ||
| Current tax liabilities (Net) | 0 | ||
| Deferred government grants, Current | 0 | ||
| Total current liabilities | 169413100000 | ||
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | 674900000 | |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | 0 | |
| Total liabilities | 400549400000 | ||
| Total equity and liabilites | 346020900000 | ||
| Disclosure of notes on assets and liabilities | |||
Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results |
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|---|---|---|---|---|---|---|---|
| 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 | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | Cement & Cement Products | 200400000 | 2630300000 | ||||
| 2 | Construction | 4015900000 | 16049500000 | ||||
| 3 | Power | 100000 | -3900000 | ||||
| 4 | Hotel/Hospitality & Golf Course | 1282000000 | 4211300000 | ||||
| 5 | Real Estate | 1333800000 | 8353500000 | ||||
| 6 | Investments | 0 | 0 | ||||
| 7 | Infrastructure | 0 | 0 | ||||
| 8 | Fertilizers | 4119200000 | 25610900000 | ||||
| 9 | Others | 680500000 | 1692200000 | ||||
| 10 | Unallocated | 102900000 | 160100000 | ||||
| Total Segment Revenue | 11734800000 | 58703900000 | |||||
| Less: Inter segment revenue | 362000000 | 362000000 | |||||
| Revenue from operations | 11372800000 | 57957700000 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Cement & Cement Products | -280200000 | -4499600000 | ||||
| 2 | Construction | -945400000 | 374800000 | ||||
| 3 | Power | -212000000 | -1326100000 | ||||
| 4 | Hotel/Hospitality & Golf Course | 382800000 | 919600000 | ||||
| 5 | Real Estate | -472100000 | 105100000 | ||||
| 6 | Investments | 467300000 | 893000000 | ||||
| 7 | Infrastructure | 0 | 0 | ||||
| 8 | Fertilizers | -1036900000 | -1186100000 | ||||
| 9 | Others | 145300000 | 193800000 | ||||
| 10 | Unallocated | 0 | 0 | ||||
| Total Profit before tax | -1951200000 | -4525500000 | |||||
| i. Finance cost | 3008800000 | 3008800000 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | -80500000 | -80500000 | |||||
| Profit before tax | -4879500000 | -15477800000 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Cement & Cement Products | 41559500000 | 41559500000 | ||||
| 2 | Construction | 48265200000 | 48265200000 | ||||
| 3 | Power | 16133300000 | 16133300000 | ||||
| 4 | Hotel/Hospitality & Golf Course | 7469100000 | 7469100000 | ||||
| 5 | Real Estate | 197159600000 | 197159600000 | ||||
| 6 | Investments | 6095400000 | 6095400000 | ||||
| 7 | Infrastructure | 1697200000 | 1697200000 | ||||
| 8 | Fertilizers | 9489300000 | 9489300000 | ||||
| 9 | Others | 3112900000 | 3112900000 | ||||
| 10 | Unallocated | 0 | 0 | ||||
| Total Segment Asset | 330981500000 | 330981500000 | |||||
| Un-allocable Assets | 15039400000 | 15039400000 | |||||
| Net Segment Asset | 346020900000 | 346020900000 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Cement & Cement Products | 12411700000 | 12411700000 | ||||
| 2 | Construction | 14135600000 | 14135600000 | ||||
| 3 | Power | 705500000 | 705500000 | ||||
| 4 | Hotel/Hospitality & Golf Course | 2675300000 | 2675300000 | ||||
| 5 | Real Estate | 35806000000 | 35806000000 | ||||
| 6 | Investments | 0 | 0 | ||||
| 7 | Infrastructure | 698400000 | 698400000 | ||||
| 8 | Fertilizers | 7110000000 | 7110000000 | ||||
| 9 | Others | 1414500000 | 1414500000 | ||||
| 10 | Unallocated | 0 | 0 | ||||
| Total Segment Liabilities | 74957000000 | 74957000000 | |||||
| Un-allocable Liabilities | 325592400000 | 325592400000 | |||||
| Net Segment Liabilities | 400549400000 | 400549400000 | |||||
| Disclosure of notes on segments | |||||||
Other Comprehensive Income |
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|---|---|---|---|
| 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 | Consolidated | Consolidated |
| 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 or Loss | 153000000 | 151300000 |
| Total Amount of items that will not be reclassified to profit and loss | 153000000 | 151300000 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | -200000 | -100000 |
| 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 | 153200000 | 151400000 |
Cash flow statement, indirect |
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|---|---|---|---|---|---|---|
| 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 | Consolidated | ||||
| Part I | Blue color marked fields are non-mandatory. | |||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | -30250400000 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 11982300000 | |||||
| Adjustments for decrease (increase) in inventories | 3525000000 | |||||
| Adjustments for decrease (increase) in trade receivables, current | 5779300000 | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0 | |||||
| Adjustments for decrease (increase) in other current assets | 3105500000 | |||||
| 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 | -5759600000 | |||||
| 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 | 5612700000 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0 | |||||
| Adjustments for provisions, current | 1099000000 | |||||
| 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 | 200000 | |||||
| Adjustments for interest income | 1527000000 | |||||
| Adjustments for share-based payments | 0 | |||||
| Adjustments for fair value losses (gains) | -894900000 | |||||
| Adjustments for undistributed profits of associates | 0 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | -813500000 | |||||
| Other adjustments to reconcile profit (loss) | -429600000 | |||||
| Other adjustments for non-cash items | 14772600000 | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0 | |||||
| Total adjustments for reconcile profit (loss) | 36451600000 | |||||
| Net cash flows from (used in) operations | 6201200000 | |||||
| Dividends received | 0 | |||||
| Interest paid | 0 | |||||
| Interest received | 0 | |||||
| Income taxes paid (refund) | 626200000 | |||||
| Other inflows (outflows) of cash | 0 | |||||
| Net cash flows from (used in) operating activities | 5575000000 | |||||
| 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 | 1917400000 | |||||
| Purchase of property, plant and equipment | 1479800000 | |||||
| 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 | 316200000 | |||||
| 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 | 200000 | |||||
| Interest received | 743500000 | |||||
| Income taxes paid (refund) | 0 | |||||
| Other inflows (outflows) of cash | -3689800000 | |||||
| Net cash flows from (used in) investing activities | -2192300000 | |||||
| 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 | 2196400000 | |||||
| Payments of lease liabilities | 48600000 | |||||
| Dividends paid | 0 | |||||
| Interest paid | 1879000000 | |||||
| Income taxes paid (refund) | 0 | |||||
| Other inflows (outflows) of cash | 0 | |||||
| Net cash flows from (used in) financing activities | -4124000000 | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | -741300000 | |||||
| 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 | -741300000 | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 6737800000 | |||||
| Cash and cash equivalents cash flow statement at end of period | 5996500000 | |||||
Details of Impact of Audit Qualification |
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|---|---|
| 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 and Associates | Yes | 31-Jul-2027 | ||
|---|---|---|---|---|---|
Financial details |
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| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
| 1 | Turnover / Total income | 62061000000 | 62061000000 |
| 2 | Total Expenditure | 77939600000 | 81743900000 |
| 3 | Net Profit/(Loss) | -30651200000 | -34455500000 |
| 4 | Earnings Per Share | -11.17 | -12.56 |
| 5 | Total Assets | 346020900000 | 346020900000 |
| 6 | Total Liabilities | 400549400000 | 404353700000 |
| 7 | Net Worth | -54528500000 | -58332800000 |
Audit qualification |
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|---|---|---|---|---|---|---|---|
| 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) |
| 3 | Textual Information(11) | Disclaimer of opinion | Repetitive | Textual Information(12) | Textual Information(13) | Textual Information(14) | Textual Information(15) |
Text Block |
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|---|---|
| Textual Information(1) | iiitWe refer to Note No. 13 to the Statement which provides the Holding 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 Holding 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 Consolidated Financial Results will be made in the Consolidated 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 Consolidated Financial Results. |
| 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) | NA n |
| Textual Information(4) | NA |
| Textual Information(5) | NA |
| Textual Information(6) | nAttention is drawn to: n nitWe refer to Note No. 2 and 3a to the Statement which states that RP has invited creditors of the Holding Company to submit their claims to the RP in terms of the applicable provisions of Insolvency and Bankruptcy Code 2016 IBC. And the note further states that Scheme of Arrangement for transfer to SPV has since been rejected by Honble National Company Law Tribunal NCLT vide its order dated 03.06.2024 and by Honble National Company Law Appellate Tribunal NCLAT vide its order dated 06.12.2024. The Holding Company has also received intimation from National Asset Reconstruction Company Limited NARCL dated 11.03.2025 regarding assignment of certain borrowing by Holding 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 Holding 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 Consolidated 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 Consolidated Financial Results and consequential impact that the outcome of these matters may have on the Consolidated Financial Results and liabilities recognised so far. n niitWe refer to Note No. 3b to the Statement which states that pursuant to the order by Honble NCLT dated 22.07.2024 initiating commencement of Corporate Insolvency Resolution Process CIRP in JCCL a wholly owned subsidiary of the Holding Company and upheld by Honble 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 Holding Company by JCCL as part of CRRP in earlier years are now transferred back to JCCL during the current quarter by the Holding Company. 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 Consolidated Financial Results and consequential impact that the outcome of these matters may have on the Consolidated Financial Results. n nivtWe 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 Honble 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 Holding Company has filed appeal against the said Honble Allahabad High Court order dated 10.03.2025 with the Honble Supreme Court. The Honble 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 Holding Company has shown the Land and other Assets i.e. Race Track Buildings etc. as Assets of the Holding Company and balance amount payable by the Holding Company to YEIDA as liability and no other impact pursuant to Honble Allahabad High Court Order dated 10.03.2025 including interest on deposit receivable by Holding Company from YEIDA has been given in the Consolidated financial results during the pendency of the appeals before Honble 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 Consolidated Financial Results and consequential impact that the outcome of these matters may have on the Consolidated Financial Results. n n nixtThe registration number under Goods and Service Tax GST Act of Jaypee Cement Corporation Limited JCCL related to two units namely Heavy Engineering Workshop and Jaypee Hitech Casting centre has been suspended by the department due to non-payment of GST liability by JCCL. Total outstanding liability as on 31st March 2025 of Rs. 2133.84 lakhs including interest is appearing as Statutory Dues under Other Current Liability in the financial results of JCCL. n nDisclaimer of Opinion - In the case of Yamuna Expressway Tolling Limited YETL a subsidiary of the holding company: n nxitYETL has not provided for interest payable on term loan of Rs. 115.46 Crore for the year ended 31.03.2025 Cumulative till 31.03.2025 of Rs. 471.08 Crore from 01.04.2020. Term Loan of Rs. 600 Crores sanctioned by Yes Bank assigned in favour of Suraksha Asset Reconstruction Limited SARL vide deed of assignment dated 27.12.2027. As per the management of YETL SARL vide its letter dated 12.09.2028 to JAL the holding company had intimated the invocation of pledged shares of the company held by JAL Hence as a conscious interest has not been provided since 01.04.2020. n nBesides the impact of non-provision of interest payable on term loan of Rs. 115.46 crore for the year ended 31st March 2025 on the profit and loss Auditor of YETL were unable to evaluate the ultimate likelihood of penalties strictures or further liabilities if any on YETL. Accordingly impact if any of the indeterminate liabilities on these audited results is currently not ascertainable and hence unable to express an opinion on this matter. n n nxiitYamuna Expressway Tolling Limited YETL has accumulated losses which has fully eroded the Net worth and YETL has incurred cash loss during the current period and the previous years. YETLs current liabilities have exceeded its current assets. These conditions indicate the existence of a material uncertainty that may cast significant doubt about YETL ability to continue as a going concern. However the financial results of YETL have been prepared on going concern basis. n n n n |
| Textual Information(7) | NA |
| Textual Information(8) | Response The impact of the qualification is unascertainable at this point of time for the matters given below. n 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. 3b to the statement CIRP has been initiated in JCCL Wholly Owned Subsidiary of the Company. The same is underway. n nManagement Response to the Disclaimer of Opinion iv nAs stated in Note No 6 the matter is still sub-judice with Honble Supreme Court. In view of the SLP filed Honble 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 nThe same could not be provided being confidential and restricted as per IBC regulations. n nManagement Response to the Disclaimer of Opinion vi to ix nCorporate Insolvency Resolution Process has commenced in JCCL. The Company is being managed by RP of JCCL on a Going Concern basis under IBC regulations. As a part of CIRP RP of JCCL has called for claims of creditors etc. The impact of this shall be ascertained on finality of CIRP. In view of the reasons stated above currently impact could not be ascertained. n nFurther the JCCL is making efforts for New GST registration number for two units as mentioned above. n nManagement Response to the Audit Qualification at SL No IID xi & xii n nThe impact is currently not ascertainable as the loan has been assigned by Yes Bank after approval of CRRP of 2017. n |
| Textual Information(10) | Auditors Comments on i & ii above n nResponse As stated management response to above the impact of the matters stated in disclaimer of opinion cannot be ascertained and the same is mentioned in our report. n |
| Textual Information(11) | Qualified Opinion - In the case of Bhilai Jaypee Cement Limited BJCL a subsidiary of the holding company: n nxtThe financial statement of BJCL is prepared on going concern basis. BJCL has incurred loss of Rs. 28568.05 lakhs for the financial year ended March 31 2025 respectively and as of that date the accumulated losses of Rs. 106190.67 lakhs have exceeded the paid-up share capital of Rs. 37968.48 Lakhs resulting into complete erosion of the BJCLs net worth. Further the BJCLs current liabilities exceeded its current assets. The plants were not in operation during the financial year ended March 31 2025 due to shortage of working capital resulting into power disconnection raw material shortage etc. As these matters require BJCL to generate additional cash flows to fund the operations as well as payments to creditors and the statutory obligations the appropriateness of assumption of going concern is dependent upon generation of additional cash flows and financial support from the Holding Company Strategic Investor to the extent required by BJCL to fund the operations and meets its obligations and implementation of business plan which are critical to the BJCLs ability to continue as going concern. These conditions along with matters described below indicate the existence of a material uncertainty that may cast significant doubt on the BJCLs ability to continue as going concern and therefore the BJCL may be unable to realize its assets and discharge its liabilities in the normal course of business. n nThe matters stated above have also been qualified in auditors report of BJCL our report in preceding quarter and year ended 31st March 2024 and quarter ended 31st December 2024. n |
| Textual Information(12) | NA n |
| Textual Information(13) | Response The impact of the qualification is unascertainable at this point of time for the matters given below. n n |
| Textual Information(14) | Management Response to the Audit Qualification at SL No II C x n nThere is a working capital shortage in BJCL due to which the operation of BJCL are affected. Currently the impact is not ascertainable. n |
| Textual Information(15) | Auditors Comments on i & ii above n nResponse As stated management response to above the impact of the matters stated in disclaimer of opinion cannot 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 |