| Scrip Code | 532894 |
|---|---|
| NSE Symbol | INDOWIND |
| MSEI Symbol | NOTLISTED |
| ISIN | INE227G01018 |
| Name of company | INDOWIND ENERGY 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 | 26-05-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 19-05-2026 |
| 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 | 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 | Single segment |
| Description of single segment | POWER GENERATION |
| Start date and time of board meeting | 26-05-2026 13:30:00 |
| End date and time of board meeting | 26-05-2026 17:30:00 |
| 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 | NA |
| (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. | NA |
| Whether the company is a high value debt listed entity according to regulation 15 (1A)? | No |
| (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? | |
| (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 | 29-05-2025 |
| Indicate Company website link for updated RPT policy of the Company | https://indowind.com/wp-content/uploads/2025/06/related-party-transaction-policy-IEL-REVISED.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? | Yes |
| No. of times funds raised during the quarter | 1 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| NOT APPLICABLE | |
| 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 | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 505.20 | 3,110.34 | |
| Other income | 40.24 | 78.55 | |
| Total income | 545.44 | 3,188.89 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 0.00 | 0.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | (20.11) | (20.11) |
| (d) | Employee benefit expense | 152.66 | 359.82 |
| (e) | Finance costs | 10.20 | 293.23 |
| (f) | Depreciation, depletion and amortisation expense | 145.06 | 820.72 |
| (f) | Other Expenses | ||
| 1 | OPERATING EXPENSES | 86.29 | 459.55 |
| 2 | SELLING AND DISTRIBUTION EXPENSES | 25.96 | 170.55 |
| 3 | OTHER EXPENSES | 335.16 | 691.05 |
| Total other expenses | 447.41 | 1,321.15 | |
| Total expenses | 735.22 | 2,774.81 | |
| 3 | Total profit before exceptional items and tax | (189.78) | 414.08 |
| 4 | Exceptional items | (244.45) | (244.45) |
| 5 | Total profit before tax | (434.23) | 169.63 |
| 6 | Tax expense | ||
| 7 | Current tax | 77.28 | 77.28 |
| 8 | Deferred tax | 118.98 | 65.74 |
| 9 | Total tax expenses | 196.26 | 143.02 |
| 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 | (630.49) | 26.61 |
| 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 | (630.49) | 26.61 |
| 17 | Other comprehensive income net of taxes | (4.00) | (4.00) |
| 18 | Total Comprehensive Income for the period | (634.49) | 22.61 |
| 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 | 16,100.22 | 16,100.22 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | 161.92 | |
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -0.39 | 0.02 | |
| Diluted earnings (loss) per share from continuing operations | -0.39 | 0.02 | |
| 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 | -0.39 | 0.02 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -0.39 | 0.02 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 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 | Standalone | |
| Assets | ||
| 1 | Non-current assets | |
| Property, plant and equipment | 16,387.19 | |
| Capital work-in-progress | 1,230.51 | |
| Investment property | 0.00 | |
| Goodwill | 7,454.69 | |
| Other intangible assets | 0.00 | |
| Intangible assets under development | ||
| Biological assets other than bearer plants | ||
| Investments accounted for using equity method | ||
| Non-current financial assets | ||
| Non-current investments | 224.36 | |
| Trade receivables, non-current | 0.00 | |
| Loans, non-current | 926.48 | |
| Other non-current financial assets | ||
| 1 | RIGHT OF USE ASSET | 90.25 |
| 2 | other financial assets | 4,018.30 |
| Total of other non-current financial assets | 4,108.55 | |
| Total non-current financial assets | 5,259.39 | |
| Deferred tax assets (net) | 111.08 | |
| Other non-current assets | ||
| 1 | Other non-current assets | 172.07 |
| Total of other non-current assets | 172.07 | |
| Total non-current assets | 30,614.93 | |
| 2 | Current assets | |
| Inventories | 177.95 | |
| Current financial asset | ||
| Current investments | 0.00 | |
| Trade receivables, current | 387.56 | |
| Cash and cash equivalents | 853.90 | |
| Bank balance other than cash and cash equivalents | 1,283.69 | |
| Loans, current | 0.00 | |
| Other current financial assets | ||
| Total of other current financial assets | 1,116.83 | |
| Total current financial assets | 3,641.98 | |
| Current tax assets (net) | 58.29 | |
| Other current assets | ||
| 1 | Other current assets | 293.26 |
| Total of other current assets | 293.26 | |
| Total current assets | 4,171.48 | |
| 3 | Non-current assets classified as held for sale | |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | |
| Total assets | 34,786.41 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 16,100.22 | |
| Other equity | 14,725.01 | |
| Total equity attributable to owners of parent | 30,825.23 | |
| Non controlling interest | ||
| Total equity | 30,825.23 | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 950.86 | |
| Trade payables, non-current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | ||
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | ||
| Total Trade payable | ||
| Other non-current financial liabilities | ||
| 1 | Non controlling interest | 0.00 |
| 2 | lease liabilities | 2.17 |
| Total of other non-current financial liabilities | 2.17 | |
| Total non-current financial liabilities | 953.03 | |
| Provisions, non-current | 9.48 | |
| Deferred tax liabilities (net) | 2,771.20 | |
| Deferred government grants, Non-current | ||
| Other non-current liabilities | ||
| Total of other non-current liabilities | ||
| Total non-current liabilities | 3,733.71 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 23.48 | |
| Trade payables, 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 | 144.75 | |
| Total Trade payable | 144.75 | |
| Other current financial liabilities | ||
| 1 | other financial liabilities | 42.08 |
| Total of other current financial liabilities | 42.08 | |
| Total current financial liabilities | 210.31 | |
| Other current liabilities | 9.04 | |
| 1 | Other current liabilities | 9.04 |
| Total of other current liabilities | 9.04 | |
| Provisions, current | 8.12 | |
| Current tax liabilities (Net) | 0.00 | |
| Deferred government grants, Current | 0.00 | |
| Total current liabilities | 227.47 | |
| 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 | 3,961.18 | |
| Total equity and liabilites | 34,786.41 | |
| 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 | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| 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 | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| Total Amount of items that will not be reclassified to profit and loss | |||
| 2 | Income tax relating to items that will not be reclassified to profit or loss | ||
| 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 | 4.00 | 4.00 |
| 5 | Total Other comprehensive income | (4.00) | (4.00) |
| 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 | Standalone | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | 169.63 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 0.00 | |||||
| Adjustments for decrease (increase) in inventories | (20.11) | |||||
| Adjustments for decrease (increase) in trade receivables, current | 295.86 | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0.00 | |||||
| Adjustments for decrease (increase) in other current assets | 722.61 | |||||
| Adjustments for decrease (increase) in other non-current assets | 293.23 | |||||
| Adjustments for other financial assets, non-current | (274.19) | |||||
| Adjustments for other financial assets, current | (1,550.85) | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | 55.34 | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | (11.17) | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 33.76 | |||||
| Adjustments for depreciation and amortisation expense | 820.72 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | 143.02 | |||||
| Adjustments for provisions, non-current | 0.00 | |||||
| Adjustments for other financial liabilities, current | 0.92 | |||||
| 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 | (78.46) | |||||
| Adjustments for share-based payments | 0.00 | |||||
| Adjustments for fair value losses (gains) | 0.00 | |||||
| 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 | (299.93) | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | 287.67 | |||||
| Net cash flows from (used in) operations | 457.30 | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 167.06 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) operating activities | 290.24 | |||||
| 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 | 0.00 | |||||
| Purchase of property, plant and equipment | 2,188.66 | |||||
| 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 | 78.46 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (1,233.47) | |||||
| Net cash flows from (used in) investing activities | (3,343.67) | |||||
| 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 | 4,471.17 | |||||
| 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 | 849.34 | |||||
| Repayments of borrowings | 1,211.09 | |||||
| Payments of lease liabilities | 0.00 | |||||
| Dividends paid | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (301.89) | |||||
| Net cash flows from (used in) financing activities | 3,807.53 | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | 754.10 | |||||
| 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 | 754.10 | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 99.80 | |||||
| Cash and cash equivalents cash flow statement at end of period | 853.90 | |||||
| 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 | VENKATESH AND CO | Yes | 30-11-2026 | ||
|---|---|---|---|---|---|
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
|---|---|---|---|
| 1 | Turnover / Total income | 3,188.90 | 3,188.90 |
| 2 | Total Expenditure | 3,019.26 | 5,374.25 |
| 3 | Net Profit/(Loss) | 169.64 | (2,185.35) |
| 4 | Earnings Per Share | 0.02 | -1.58 |
| 5 | Total Assets | 34,786.41 | 32,431.42 |
| 6 | Total Liabilities | 3,961.18 | 3,961.18 |
| 7 | Net Worth | 30,825.23 | 28,470.24 |
| 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) |
| Textual Information(1) | We refer Note No 9 to the fact that the Company has filed an arbitration claim amounting to 9,083.39 lakhs against Suzlon Group in the earlier years. Further, 1,407.40 lakhs paid to Suzlon Global Services Ltd. is accounted as advance without adequate audit evidence and not expensed in the earlier years. Further, 845.59 lakhs has been recognised as compensation receivable from Suzlon Energy Ltd. without counterparty confirmation or measured under Ind AS 109. The remaining balance of the claim has not been recognised. Had the advance been expensed and the receivable appropriately amortized, profit and Loss account under reserves and surplus would have been lower by 1,407.40 lakhs and 845.59 lakhs. The accounting treatment thus departs from the relevant Ind AS requirements and impacts the financial statements. |
|---|---|
| Textual Information(2) | In continuation to the MOU dated 21st January 2022, the company envisaged that the 12.6 MW expansion project as agreed by Suzlon would commence immediately. Since there is a delay in the same, the Company has initiated arbitration proceedings to arrive at a comprehensive situation for the observations made. The advance payment of Rs.1,407.40 lakhs has been paid through banking channels and the related evidences are available. Further, the compensation amount of Rs.845.59 lakhs has been claimed by us from Suzlon and the company was hopeful of getting the same. Hence it was recognised in the earlier years. However, in view of the dispute that arose between the company and Suzlon, the issue was referred to arbitration proceedings. Suitable accounting entry shall be passed based upon the outcome of arbitration proceedings |
| Textual Information(3) | NIL |
| Textual Information(4) | NA |
| Textual Information(5) | We are not offering any further comments |
| Textual Information(6) | We refer to Note 11 of the financial statements. The Company has recognized 102 lakhs as recoverable from Bank of Baroda based on a legal claim pending since 2007 without confirmation or sufficient audit evidence, which is not in compliance with Ind AS 37 and Ind AS 109. Had appropriate provision been made, the profit before tax would have been lower to that extent. |
| Textual Information(7) | Consequent to the failure of Dena Bank (merged with Bank of Baroda), Bhopal to honour the Bank Guarantee (BG) for Rs. 100 Lakhs due on 20th June 2004, the company had filed a petition against the bank before the Hon’ble High Court of Bombay for enforcing the BG with interest till the date of payment. Since the recoverable amount is much higher than the BG amount and since the case is under progress the company has preferred to retain the BG amount in the non-current asset as it is and consider the interest amount accrued until 31st March 2026 under the Contingent Asset. The appropriate accounting adjustments will be carried out based on the outcome of the case. All documents relating to invocation of bank guarantee and related legal claim over Dena Bank (now merged with Bank of Baroda) are available with the company. |
| Textual Information(8) | NA |
| Textual Information(9) | NA |
| Textual Information(10) | We are not offering any further comments |
| Textual Information(11) | We refer to Note No: 6 to the financial statements, pursuant to the merger of Ind Eco Ventures Limited (“IVL”) with Indowind Energy Limited (“IEL”), being a business combination under common control, goodwill amounting to Rs. 7,454.69 lakhs has been transferred from IVL to IEL. However, the Company has not carried out an impairment assessment/test of the aforesaid goodwill as required under applicable IND AS as at the end of the financial year. In the absence of such impairment testing, we are unable to determine whether any impairment loss is required to be recognized in respect of the said goodwill and the consequential impact, if any, on the accompanying financial statements. |
| Textual Information(12) | Goodwill of 7,454.69 lakhs, inherited through amalgamation of Ind Eco Ventures Limited, has been reviewed by management as at March 31, 2026. The operations of the underlying Cash Generating Unit remain stable, with the windmill assets continuing to remain operational, revenue realisations remaining uninterrupted, and policy support from the Government of India towards renewable energy generation. As no impairment indicators were identified, no impairment has been recognised. The Company shall continue to evaluate impairment indicators during FY 2026–27 and undertake impairment assessment in accordance with IND AS 36, wherever considered necessary. The outcome thereof, if any, shall be considered in the financial statements for the year ending March 31, 2027. |
| Textual Information(13) | NA |
| Textual Information(14) | NA |
| Textual Information(15) | We are not offering any further comments |
| Name of CEO / Managing director | N.K HARIBABU |
|---|---|
| Name of CFO | N.K HARIBABU |
| Name of audit committee chairman | BR BASKARAN |
| Name of statutory auditor | VENKATESH & CO |
| Name of other signatory, if any, with designation | |
| Place | CHENNAI |
| Date | 26-05-2026 |
| Mode of Fund Raising | Rights Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 18-12-2024 |
| Amount Raised | 4,942.77 |
| Report filed for Quarter ended | 31-03-2026 |
| Monitoring Agency | Not Applicable |
| Monitoring Agency Name, if applicable | |
| Is there a Deviation / Variation in use of funds raised | Yes |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | Yes |
| If Yes, Date of shareholder Approval | 05-03-2026 |
| Explanation for the Deviation / Variation | |
| Comments of the Audit Committee after review | NIL |
| Comments of the auditors, if any | NIL |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | To set up 4 MW solar power plant in Karnataka State | To set up 4 MW solar power plant in Karnataka State through proposed Subsidiary “NOVA POWER PRIVATE LIMITED” & to enable consumers to hold min 26% stake in the SPV as per Group captive norms of Energy regulatory policies for selling power to consumers | 2,150.00 | 837.04 | 837.04 | 837.04 | |
| 2 | Repayment of loan availed from Corporate Promoters: (i) Loyal Credit & Investments Limited (ii) Indus Finance Limited | NIL | 1,100.00 | 0.00 | 1,100.00 | 0.00 | |
| 3 | General Corporate Purposes | NIL | 1,217.77 | 0.00 | 1,217.77 | 0.00 | |
| 4 | Issue Expense | NIL | 475.00 | 0.00 | 475.00 | 0.00 |
| Name of signatory | N.K HARIBABU |
| Designation of person | Chief Financial Officer |
| Place | CHENNAI |
| Date | 26-05-2026 |
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 | INDOWIND ENERGY LIMITED | INDOWIND POWER PRIVATE LIMITED | Subsidiary | Sale of goods or services | 2,500.00 | NIL | 976.85 | 874.00 | 1,247.00 | ||||||||||||||||
| 2 | INDOWIND ENERGY LIMITED | EVERON POWER LIMITED | Promoter Group | Sale of goods or services | 2,500.00 | NIL | 564.00 | 0.00 | 0.00 | ||||||||||||||||
| 3 | INDOWIND ENERGY LIMITED | INDUS FINANCE LIMITED | Promoter | Interest paid | 1,000.00 | NIL | 478.00 | 259.00 | 0.00 | ||||||||||||||||
| 4 | INDOWIND ENERGY LIMITED | LOYAL CREDIT AND INVESTMENTS LIMITED | Promoter | Interest paid | 10,000.00 | NIL | 1,086.00 | 851.00 | 0.00 | ||||||||||||||||
| 5 | INDOWIND ENERGY LIMITED | BEKAE PROPERTIES PRIVATE LIMITED | Promoter Group | Any other transaction | Rent paid | 335.12 | NIL | 4.72 | 0.00 | 0.00 | |||||||||||||||
| 6 | INDOWIND ENERGY LIMITED | KS RAVINDRANATH | Key Management Personnel | Remuneration | NIL | 11.79 | 0.00 | 0.00 | |||||||||||||||||
| 7 | INDOWIND ENERGY LIMITED | NK HARIBABU | Key Management Personnel | Remuneration | NIL | 7.20 | 0.00 | 0.00 | |||||||||||||||||
| 8 | INDOWIND ENERGY LIMITED | B SHARATH | Key Management Personnel | Remuneration | NIL | 4.31 | 0.00 | 0.00 | |||||||||||||||||
| 9 | INDOWIND ENERGY LIMITED | SANGEETHA HARILAL LAKHI | Key Management Personnel | Any other transaction | sitting fees | NIL | 0.23 | 0.00 | 0.00 | ||||||||||||||||
| 10 | INDOWIND ENERGY LIMITED | KR SHYAMSUNDAR | Key Management Personnel | Any other transaction | sitting fees | NIL | 0.50 | 0.00 | 0.00 | ||||||||||||||||
| 11 | INDOWIND ENERGY LIMITED | SRIDHAR | Key Management Personnel | Any other transaction | sitting fees | NIL | 0.50 | 0.00 | 0.00 | ||||||||||||||||
| 12 | INDOWIND ENERGY LIMITED | RAJANI ASSOCIATES | Key Management Personnel | Purchase of goods or services | 1.80 | NIL | 1.80 | 29-01-2026 | 1.80 | 0.00 | 0.00 | ||||||||||||||
| 13 | INDOWIND ENERGY LIMITED | INDUS NUTRI POWER PRIVATE LIMITED | Promoter Group | Any other transaction | Trade Receivable | 335.12 | NIL | 162.00 | 180.00 | 178.00 | |||||||||||||||
| 14 | Indowind Power Private Limited | BEKAE PROPERTIES PRIVATE LIMITED | Under Section 2(76) (iv) of the Companies Act, 2013 | Sale of goods or services | NIL | 0.67 | 0.00 | 0.00 | |||||||||||||||||
| 15 | Indowind Power Private Limited | EVERON POWER LIMITED | Under Section 2(76) (v) of the Companies Act, 2013 | Sale of goods or services | 2,500.00 | NIL | 253.00 | 97.00 | 0.70 | ||||||||||||||||
| Total value of transaction during the reporting period | 3,551.57 | ||||||||||||||||||||||||