| Scrip Code | 532627 |
|---|---|
| NSE Symbol | JPPOWER |
| MSEI Symbol | NOTLISTED |
| ISIN | INE351F01018 |
| Name of company | JAIPRAKASH POWER VENTURES LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 04-05-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 27-04-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| 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 | 04-05-2026 15:30:00 |
| End date and time of board meeting | 04-05-2026 18:40:00 |
| 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 |
| 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 | 01-01-2026 | 01-04-2025 |
| B | Date of end of reporting period | 31-03-2026 | 31-03-2026 |
| C | Whether results are audited or unaudited | Audited | Audited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 1,38,643.00 | 5,56,346.00 | |
| Other income | 8,436.00 | 22,815.00 | |
| Total income | 1,47,079.00 | 5,79,161.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 1,06,836.00 | 3,64,450.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 4,465.00 | 17,311.00 |
| (e) | Finance costs | 8,688.00 | 37,493.00 |
| (f) | Depreciation, depletion and amortisation expense | 11,685.00 | 47,280.00 |
| (f) | Other Expenses | ||
| 1 | Consultancy, legal & professional fee | 118.00 | 2,881.00 |
| 2 | Director's sitting fee including GST & service tax | 9.00 | 46.00 |
| 3 | Power, water and electricity charges | 537.00 | 2,174.00 |
| 4 | Exchange Rate of Flucation | 0.00 | 0.00 |
| 5 | Secuirty Expenses | 626.00 | 2,462.00 |
| 6 | Rural/Site Development Exp. | 3,579.00 | 7,962.00 |
| 7 | Miscellaneous expenses | 9,771.00 | 17,226.00 |
| 8 | Rent | 35.00 | 797.00 |
| 9 | Taxes & fees | 98.00 | 385.00 |
| 10 | Corporate Social Responsibility | 434.00 | 3,952.00 |
| Total other expenses | 15,207.00 | 37,885.00 | |
| Total expenses | 1,46,881.00 | 5,04,419.00 | |
| 3 | Total profit before exceptional items and tax | 198.00 | 74,742.00 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 198.00 | 74,742.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 1,049.00 | 14,081.00 |
| 8 | Deferred tax | 486.00 | 15,598.00 |
| 9 | Total tax expenses | 1,535.00 | 29,679.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | (1,337.00) | 45,063.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | (1,337.00) | 45,063.00 |
| 17 | Other comprehensive income net of taxes | 66.00 | 42.00 |
| 18 | Total Comprehensive Income for the period | (1,271.00) | 45,105.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | (1,337.00) | 45,063.00 | |
| Total profit or loss, attributable to non-controlling interests | 0.00 | 0.00 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 66.00 | 42.00 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 0.00 | 0.00 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 6,85,346.00 | 6,85,346.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | 2,07,327.00 | |
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -0.02 | 0.49 | |
| Diluted earnings (loss) per share from continuing operations | -0.02 | 0.49 | |
| 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 | -0.02 | 0.49 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -0.02 | 0.49 | |
| 24 | Debt equity ratio | 0.2400 | 0.2400 |
| 25 | Debt service coverage ratio | 1.1500 | 2.1300 |
| 26 | Interest service coverage ratio | 2.3400 | 4.1900 |
| 27 | Disclosure of notes on financial results | ||
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | Year ended (dd-mm-yyyy) | |
|---|---|---|
| Date of start of reporting period | 01-04-2025 | |
| Date of end of reporting period | 31-03-2026 | |
| Whether results are audited or unaudited | Audited | |
| Nature of report standalone or consolidated | Consolidated | |
| Assets | ||
| 1 | Non-current assets | |
| Property, plant and equipment | 12,17,501.00 | |
| Capital work-in-progress | 18,424.00 | |
| Investment property | 0.00 | |
| Goodwill | 16.00 | |
| Other intangible assets | 10,437.00 | |
| Intangible assets under development | 9,232.00 | |
| Biological assets other than bearer plants | 0.00 | |
| Investments accounted for using equity method | 48,309.00 | |
| Non-current financial assets | ||
| Non-current investments | 0.00 | |
| Trade receivables, non-current | 0.00 | |
| Loans, non-current | 0.00 | |
| Other non-current financial assets | ||
| 1 | Other Financial Assets | 54,912.00 |
| Total of other non-current financial assets | 54,912.00 | |
| Total non-current financial assets | 54,912.00 | |
| Deferred tax assets (net) | ||
| Other non-current assets | ||
| 1 | Other non-current assets | 17,692.00 |
| Total of other non-current assets | 17,692.00 | |
| Total non-current assets | 13,76,523.00 | |
| 2 | Current assets | |
| Inventories | 48,878.00 | |
| Current financial asset | ||
| Current investments | 0.00 | |
| Trade receivables, current | 1,09,078.00 | |
| Cash and cash equivalents | 75,495.00 | |
| Bank balance other than cash and cash equivalents | 1,25,390.00 | |
| Loans, current | 0.00 | |
| Other current financial assets | ||
| Total of other current financial assets | 3,232.00 | |
| Total current financial assets | 3,13,195.00 | |
| Current tax assets (net) | 5,405.00 | |
| Other current assets | ||
| 1 | Other current assets | 51,763.00 |
| Total of other current assets | 51,763.00 | |
| Total current assets | 4,19,241.00 | |
| 3 | Non-current assets classified as held for sale | 0.00 |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | 0.00 |
| Total assets | 17,95,764.00 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 6,85,346.00 | |
| Other equity | 5,87,880.00 | |
| Total equity attributable to owners of parent | 12,73,226.00 | |
| Non controlling interest | 0.00 | |
| Total equity | 12,73,226.00 | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 2,87,487.00 | |
| Trade payables, non-current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 0.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | |
| Total Trade payable | 0.00 | |
| Other non-current financial liabilities | ||
| 1 | Lease Liabilities | 755.00 |
| Total of other non-current financial liabilities | 755.00 | |
| Total non-current financial liabilities | 2,88,242.00 | |
| Provisions, non-current | 5,002.00 | |
| Deferred tax liabilities (net) | 62,449.00 | |
| Deferred government grants, Non-current | ||
| Other non-current liabilities | ||
| 1 | Other non-current liabilities | 11,391.00 |
| Total of other non-current liabilities | 11,391.00 | |
| Total non-current liabilities | 3,67,084.00 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 50,538.00 | |
| Trade payables, current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 1,218.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 26,462.00 | |
| Total Trade payable | 27,680.00 | |
| Other current financial liabilities | ||
| 1 | Lease Liabilities | 328.00 |
| 2 | Other Finanacial Liabilities | 66,375.00 |
| Total of other current financial liabilities | 66,703.00 | |
| Total current financial liabilities | 1,44,921.00 | |
| Other current liabilities | 10,070.00 | |
| 1 | Other current liabilities | 10,070.00 |
| Total of other current liabilities | 10,070.00 | |
| Provisions, current | 308.00 | |
| Current tax liabilities (Net) | 155.00 | |
| Deferred government grants, Current | ||
| Total current liabilities | 1,55,454.00 | |
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | |
| Total liabilities | 5,22,538.00 | |
| Total equity and liabilites | 17,95,764.00 | |
| Disclosure of notes on assets and liabilities | ||
| 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 | 01-01-2026 | 01-04-2025 | |||||
| Date of end of reporting period | 31-03-2026 | 31-03-2026 | |||||
| Whether results 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 | Power | 1,38,658.00 | 5,56,377.00 | ||||
| 2 | Coal | 24,279.00 | 81,680.00 | ||||
| 3 | Sannd Mining | 0.00 | 0.00 | ||||
| 4 | Other, Cement Grinding etc | 0.00 | 0.00 | ||||
| Total Segment Revenue | 1,62,937.00 | 6,38,057.00 | |||||
| Less: Inter segment revenue | 24,294.00 | 81,711.00 | |||||
| Revenue from operations | 1,38,643.00 | 5,56,346.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Power | 21,294.00 | 1,60,614.00 | ||||
| 2 | Coal | 773.00 | 3,111.00 | ||||
| 3 | Sannd Mining | 0.00 | 0.00 | ||||
| 4 | Other, Cement Grinding etc | (1,496.00) | (4,210.00) | ||||
| Total Profit before tax | 20,571.00 | 1,59,515.00 | |||||
| i. Finance cost | 8,688.00 | 37,493.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | 11,685.00 | 47,280.00 | |||||
| Profit before tax | 198.00 | 74,742.00 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Power | 16,72,990.00 | 16,72,990.00 | ||||
| 2 | Coal | 36,150.00 | 36,150.00 | ||||
| 3 | Sannd Mining | 957.00 | 957.00 | ||||
| 4 | Other, Cement Grinding etc | 85,667.00 | 85,667.00 | ||||
| Total Segment Asset | 17,95,764.00 | 17,95,764.00 | |||||
| Un-allocable Assets | 0.00 | 0.00 | |||||
| Net Segment Asset | 17,95,764.00 | 17,95,764.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Power | 1,38,107.00 | 1,38,107.00 | ||||
| 2 | Coal | 13,156.00 | 13,156.00 | ||||
| 3 | Sannd Mining | 0.00 | 0.00 | ||||
| 4 | Other, Cement Grinding etc | 68,323.00 | 68,323.00 | ||||
| Total Segment Liabilities | 2,19,586.00 | 2,19,586.00 | |||||
| Un-allocable Liabilities | 0.00 | 0.00 | |||||
| Net Segment Liabilities | 2,19,586.00 | 2,19,586.00 | |||||
| Disclosure of notes on segments | |||||||
| 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 | 01-01-2026 | 01-04-2025 |
| B | Date of end of reporting period | 31-03-2026 | 31-03-2026 |
| 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 | Item that will not be classified to profit or loss | 100.00 | 64.00 |
| Total Amount of items that will not be reclassified to profit and loss | 100.00 | 64.00 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 34.00 | 22.00 |
| 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 | ||
| 5 | Total Other comprehensive income | 66.00 | 42.00 |
| Particulars | Year ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|
| A | Date of start of reporting period | 01-04-2025 | ||||
| B | Date of end of reporting period | 31-03-2026 | ||||
| C | Whether results are audited or unaudited | Audited | ||||
| D | Nature of report standalone or consolidated | Consolidated | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | 74,742.00 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 37,493.00 | |||||
| Adjustments for decrease (increase) in inventories | 9,376.00 | |||||
| Adjustments for decrease (increase) in trade receivables, current | (9,046.00) | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0.00 | |||||
| Adjustments for decrease (increase) in other current assets | 0.00 | |||||
| Adjustments for decrease (increase) in other non-current assets | 0.00 | |||||
| Adjustments for other financial assets, non-current | (4,262.00) | |||||
| Adjustments for other financial assets, current | 0.00 | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | 0.00 | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 0.00 | |||||
| Adjustments for depreciation and amortisation expense | 47,280.00 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | 1,178.00 | |||||
| Adjustments for provisions, non-current | (573.00) | |||||
| Adjustments for other financial liabilities, current | (2,084.00) | |||||
| Adjustments for other financial liabilities, non-current | 0.00 | |||||
| Adjustments for unrealised foreign exchange losses gains | 0.00 | |||||
| Adjustments for dividend income | 0.00 | |||||
| Adjustments for interest income | 0.00 | |||||
| Adjustments for share-based payments | 0.00 | |||||
| Adjustments for fair value losses (gains) | 723.00 | |||||
| Adjustments for undistributed profits of associates | 0.00 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | 0.00 | |||||
| Other adjustments to reconcile profit (loss) | 0.00 | |||||
| Other adjustments for non-cash items | 0.00 | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | 80,085.00 | |||||
| Net cash flows from (used in) operations | 1,54,827.00 | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | (18,179.00) | |||||
| Income taxes paid (refund) | 9,238.00 | |||||
| Other inflows (outflows) of cash | 2,689.00 | |||||
| Net cash flows from (used in) operating activities | 1,30,099.00 | |||||
| Cash flows from used in investing activities | ||||||
| Cash flows from losing control of subsidiaries or other businesses | 0.00 | |||||
| Cash flows used in obtaining control of subsidiaries or other businesses | 0.00 | |||||
| Other cash receipts from sales of equity or debt instruments of other entities | 0.00 | |||||
| Other cash payments to acquire equity or debt instruments of other entities | 0.00 | |||||
| Other cash receipts from sales of interests in joint ventures | 0.00 | |||||
| Other cash payments to acquire interests in joint ventures | 0.00 | |||||
| Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Cash payment for investment in partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Proceeds from sales of property, plant and equipment | 483.00 | |||||
| Purchase of property, plant and equipment | 786.00 | |||||
| Proceeds from sales of investment property | 0.00 | |||||
| Purchase of investment property | 0.00 | |||||
| Proceeds from sales of intangible assets | 0.00 | |||||
| Purchase of intangible assets | 0.00 | |||||
| Proceeds from sales of intangible assets under development | 0.00 | |||||
| Purchase of intangible assets under development | 0.00 | |||||
| Proceeds from sales of goodwill | 0.00 | |||||
| Purchase of goodwill | 0.00 | |||||
| Proceeds from biological assets other than bearer plants | 0.00 | |||||
| Purchase of biological assets other than bearer plants | 0.00 | |||||
| Proceeds from government grants | 0.00 | |||||
| Proceeds from sales of other long-term assets | 0.00 | |||||
| Purchase of other long-term assets | 0.00 | |||||
| Cash advances and loans made to other parties | 0.00 | |||||
| Cash receipts from repayment of advances and loans made to other parties | 0.00 | |||||
| Cash payments for future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Cash receipts from future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Dividends received | 0.00 | |||||
| Interest received | 23,554.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (90,887.00) | |||||
| Net cash flows from (used in) investing activities | (67,636.00) | |||||
| Cash flows from used in financing activities | ||||||
| Proceeds from changes in ownership interests in subsidiaries | 0.00 | |||||
| Payments from changes in ownership interests in subsidiaries | 0.00 | |||||
| Proceeds from issuing shares | 0.00 | |||||
| Proceeds from issuing other equity instruments | 0.00 | |||||
| Payments to acquire or redeem entity's shares | 0.00 | |||||
| Payments of other equity instruments | 0.00 | |||||
| Proceeds from exercise of stock options | 0.00 | |||||
| Proceeds from issuing debentures notes bonds etc | 0.00 | |||||
| Proceeds from borrowings | 0.00 | |||||
| Repayments of borrowings | 38,729.00 | |||||
| Payments of lease liabilities | 0.00 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 37,189.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (304.00) | |||||
| Net cash flows from (used in) financing activities | (76,222.00) | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | (13,759.00) | |||||
| Effect of exchange rate changes on cash and cash equivalents | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 0.00 | |||||
| Net increase (decrease) in cash and cash equivalents | (13,759.00) | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 89,254.00 | |||||
| Cash and cash equivalents cash flow statement at end of period | 75,495.00 | |||||
| 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 | Qualified 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 | Lodha & Co. LLP | Yes | 31-03-2027 | ||
|---|---|---|---|---|---|
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
|---|---|---|---|
| 1 | Turnover / Total income | 5,79,161.00 | 5,79,161.00 |
| 2 | Total Expenditure | 5,04,419.00 | 5,04,419.00 |
| 3 | Net Profit/(Loss) | 74,742.00 | 74,742.00 |
| 4 | Earnings Per Share | 0.49 | 0.2 |
| 5 | Total Assets | 17,95,764.00 | 17,95,764.00 |
| 6 | Total Liabilities | 5,22,538.00 | 5,49,134.00 |
| 7 | Net Worth | 12,73,226.00 | 12,46,630.00 |
| 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) | Qualified opinion | Repetitive | Textual Information(2) | Textual Information(3) | Textual Information(4) | Textual Information(5) |
| 2 | Textual Information(6) | Qualified opinion | Repetitive | Textual Information(7) | Textual Information(8) | Textual Information(9) | Textual Information(10) |
| 3 | Textual Information(11) | Qualified opinion | Repetitive | Textual Information(12) | Textual Information(13) | Textual Information(14) | Textual Information(15) |
| 4 | Textual Information(16) | Qualified opinion | Repetitive | Textual Information(17) | Textual Information(18) | Textual Information(19) | Textual Information(20) |
| Textual Information(1) | Note no. 3(a) regarding non provision against corporate guarantee provided to lenders (SBI) of JAL as stated in the note no. 3(a) of the accompanying financial results. On filing of the petition by a commercial bank before the National Company Law Tribunal (NCLT) bench at Allahabad, Jaiprakash Associates Limited (JAL) (the party to whom the company is an associate) has been admitted into/for Corporate Insolvency Resolution Process (CIRP) vide NCLT Order dated 3rd June, 2024 and RP was appointed. As stated in the said note, the Company had given a corporate guarantee (CG) to State Bank of India (SBI) of USD 1,500 lakhs (31st March, 2025 USD 1,500 Lakhs) [equivalent Rs. 123,915 lakhs, USD converted at the exchange rate of Rs. 82.61 per USD] against loans granted by SBI to JAL. Also, during the earlier year, the Company has received a legal demand cum recall notice from SBI for corporate guarantee provided by the Company, however for the reasons as stated in the said note, the Company has disputed the same. Further as stated in the note no. 3(a), the SBI has filed a case for recovery in DRT-III at Delhi against JAL along with other parties where Company has also been made a party as a corporate guarantor. Read with above to that extent non-compliance of Ind AS 113 as fair valuation and recognition of consequential impact in books of accounts has not been carried out of stated Corporate Guarantee. Also, attention is drawn to the note no. 3(a) read with note no. 8 where as stated in the said notes, there was/is non -compliance of SEBI Circular dated 17th April, 2014. As stated in note no. 3(a) of the accompanying financial results, in the opinion of the management, pending claims of the Company before RP and pending decision on release of the corporate guarantee (which Company has submitted) in view of the Framework Agreement, presently the impact (amount) is unascertainable as stated in the said note. As stated in para (A) above, impact is unascertainable in the opinion of the management. |
|---|---|
| Textual Information(2) | Impact is not quantified. |
| Textual Information(3) | Impact is not quantified. |
| Textual Information(4) | In the opinion of the Management there will be no material impact of the fair valuation of the following guarantee on the financial result/ statement of affairs. Accordingly fair valuation is not being considered and recorded in this financial statement. Corporate Guarantee of US$ 1,500 Lakhs in favour of State Bank of India, Hong Kong branch for the credit facilities granted by lenders to Jaiprakash Associates Limited (Party to whom the company is Associate). The principal amount of loan outstanding of US$ 1,300 Lakhs (equivalent to Rs. 70,333 lakhs) has been converted into rupee term loan by State Bank of India vide sanction letter dated 28th December, 2016.Subsequent to the accounting of the impact of Framework Agreement (Framework Agreement with its lenders for debt restructuring in earlier year), the Company had initiated process for the release of the guarantee provided to SBI. However, further in response to their legal demand cum recall notice, the following has been replied : Said Corporate Guarantee has no essence to lodge/invoke against any claim on or after 18.04.2019 (execution date of Framework Agreement) since the same was to be released by the State Bank of India (@), being one of the participant of the DRP as explained above (provisions of the Framework Agreement will be apply mutatis mutandis) and accordingly sustainability of the Resolution Plan was worked out without considering any liability on account of the said Corporate Guarantee on the basis of Financial Projections duly approved by the Consortium of Lenders of JPVL including SBI. [(@) as stated in the note no. 3(a) SBI has assigned its fund based claim outstanding due for JAL to the National Reconstruction Company Limited] Presently Impact cannot be quantified. |
| Textual Information(5) | No further Comments. |
| Textual Information(6) | As stated in para in (A) above, JAL has been admitted into Corporate Insolvency Resolution Process (CIRP) and RP was appointed. We draw the attention to the note no. 3(b) of the accompanying financial results that the Company has paid advance (net) of Rs. 578 lakhs to/for carrying out certain works/repairs under different contracts. Against advance payment made to JAL, no provision has been made for the reasons stated in the said note. Further, as stated in the said note the Company has filed claims with RP for advance amount paid and other claims [note no. 3(b)] which are pending, hence presently in the opinion of the management, impact is unascertainable. |
| Textual Information(7) | Impact is not quantified. |
| Textual Information(8) | Impact is not quantified. |
| Textual Information(9) | JAL is doing Civil Work and other works for JPVL. It is also doing Coal Handling work at Jaypee Bina Thermal Power Plant. There is regular recovery from JAL, during the F.Y2024-25, the Company has originally filed claim of Rs. 4,841lakhs (net). However, as on 31st March, 2026, balance in the account of JAL is Rs. 578 Lacs (net). In the opinion of the Management, there are fair chances for recovery of this amount and there is no Provision required for it. |
| Textual Information(10) | No further Comments. |
| Textual Information(11) | Note no. 10 of the accompanying financial results regarding non provision against the recompense claim amount of Rs. 5,69,651 lakhs claimed by the lenders (ICICI bank as lead) as stated in the said note. As stated in the said note, the Company has challenged the amount demanded and advised ICICI bank to explain basis for amount so demanded. Management of the Company believes that based on present free cash flow situation and taking into consideration the extent RBI guidelines, nothing is payable/due as on 31st March, 2026.Further in the opinion of the management, impact if any, will not be material, on the state of affairs as same is recoverable, under PPAs as stated in the note no. 10. In the opinion of the management, impact, if any, cannot be ascertained. |
| Textual Information(12) | Impact is not quantified. |
| Textual Information(13) | Impact is not quantified. |
| Textual Information(14) | - After Revised Circular 2018 was repealed pursuant to the SC Judgement, question arises as to which rules / regulations of RBI would govern the Framework Agreement, as on that date. - Arguably, once the Revised Circular 2018 was repealed, then RBI Circulars on the resolution of stressed assets which had been issued prior and annulled by the said Revised Circular 2018, such as CDR / JLF for resolution of stressed accounts, may be said to be automatically reinstated. This may also be inferred from Clause 1.1 of the Framework Agreement, which defines IRAC Norms as the Prudential Norms on Income Recognition and Asset Classification dated July 01, 2015, issued by the RBI, as amended, modified, and restated from time to time. An alternate view may be adopted that with the quashing of the Revised Circular 2018, there exits no rules/ regulations of the RBI, which pertain to or deal with the resolution of stressed assets - Thus, Framework Agreement was governed by the CDR Circular 2015 and IRAC Circular 2015, which as explained above, did not provide for recompense. |
| Textual Information(15) | No further Comments. |
| Textual Information(16) | Note no 11 of the financial results regarding the Company has recognized Minimum Alternate Tax (MAT) Credit Entitlement aggregating to Rs.26,596 Lacs as at March 31, 2026 (including MAT credit recognition of Rs.14,078 lacs of current year) for the reasons as stated in the said note, the Company has elected to continue under the regular / old tax regime for current financial year and onwards. Had the Company complied with the recognition requirements of Ind AS 12 Income Taxes, the MAT Credit Entitlement of Rs. 26,596 lacs would not have been recognised, and consequently, Tax Expense for the year would have been higher, and Retained Earnings as at 31 March 2026 and the Net Profit After Tax for the year ended 31 March 2026 would have been lower by Rs. 26,596 lacs. Matters stated in para (A) and (B) above had also been qualified in our audit report on the consolidated financial statements for the year ended 31st March, 2025 and limited review report for the corresponding quarter and matters (A) to (C) above had also been qualified in our review report on the con financial results previous quarter ended 31st December, 2025. |
| Textual Information(17) | Impact is not quantified. |
| Textual Information(18) | Impact is not quantified. |
| Textual Information(19) | Management is in the process of assessing/reassessing the Company's long-term business projections in light of recent developments in the energy generation sector, the long-term business plans and changes in the level of a promoter group Company, credits, other factors and the statutory 15-year window available for utilisation of MAT credits, the Management has decided and recognised and continues to carry forward MAT Credit Entitlement amounting to Rs. 26,596 lacs as at 31 March 2026. Considering the above stated reasons, the Management is confident about recoverability and that the recognition and continued carrying value of the MAT Credit Entitlement is appropriate and is in compliance with the recognition principles. Accordingly, the Company has continued to recognise Deferred Tax Assets / Liability using the tax rates applicable under the old regime. |
| Textual Information(20) | No further Comments. |
| Name of CEO / Managing director | SUREN JAIN |
|---|---|
| Name of CFO | RAM KUMAR PORWAL |
| Name of audit committee chairman | DR. DINESH KUMAR LIKHI |
| Name of statutory auditor | NARENDER KUMAR LODHA |
| Name of other signatory, if any, with designation | |
| Place | NEW DELHI |
| Date | 04-05-2026 |