INTEGRATED FILING — NBFC



General information about company

Scrip code 511208
NSE Symbol IVC
MSEI Symbol NOTLISTED
ISIN INE050B01023
Name of company IL&FS Investment Managers 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 18-Jul-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 11-Jul-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 Single segment
Description of single segment Management Fees
Start date and time of board meeting 18-Jul-2025   15:30:00
End date and time of board meeting 18-Jul-2025   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


Financial Results — NBFC
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
(i) Interest Income 0 0
(ii) Dividend Income 0 0
(iii) Rental Income 0 0
(iv) Fees and commission Income 0 0
(v) Net gain on fair value changes 0 0
(vi) Net gain on derecognition of financial instruments under amortised cost category 0 0
(vii) Sale of products (including Excise Duty) 0 0
(viii) Sale of services 75759000 290757000
(ix) Other revenue from operations
Total other revenue from operations
Total Revenue From Operations 75759000 290757000
Other income 74541000 175640000
Total income 150300000 466397000
2 Expenses
Cost of materials consumed 0 0
Purchases of stock-in-trade 0 0
Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
Employee benefit expense 23581000 109482000
Finance costs 0 0
Depreciation, depletion and amortisation expense 547000 2475000
Fees and commission expense 0 0
Net loss on fair value changes 0 0
Net loss on derecognition of financial instruments under amortised cost category 0 0
Impairment on financial instruments 0 0
(f) Other expenses
1 Rent expense 4376000 15418000
2 Legal and Professional expense 43023000 144387000
3 Expected Credit loss arising on Receivables -25864000 -28575000
4 Net (gain)/loss on sale of non-current Investment 0 19838000
5 Other Expenses 18221000 58166000
Total other expenses 39756000 209234000
Total expenses 63884000 321191000
3 Total profit before exceptional items and tax 86416000 145206000
4 Exceptional items 0 0
5 Total profit before tax 86416000 145206000
7 Tax expense
8 Current tax 2256000 28558000
9 Deferred tax -42521000 -24664000
10 Total tax expenses -40265000 3894000
11 Net Profit Loss for the period from continuing operations 126681000 141312000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
17 Net profit (loss) from discontinued operation after tax 0 0
14 Share of profit (loss) of associates and joint ventures accounted for using equity method 81000 1125000
15 Total profit (loss) for period 126762000 142437000
16 Other comprehensive income net of taxes 95430000 115862000
17 Total Comprehensive Income for the period 222192000 258299000
18 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 122781000 131464000
Total profit or loss, attributable to non-controlling interests 3981000 10973000
19 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 218113000 247125000
Total comprehensive income for the period attributable to owners of parent non-controlling interests 4079000 11174000
20 Details of equity share capital
Paid-up equity share capital 628085000 628085000
Face value of equity share capital 2 2
21 Reserves excluding revaluation reserve 1423135000
22 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings per share from continuing operations 0.39 0.42
Diluted earnings per share from continuing operations 0.39 0.42
ii Earnings per equity share for discontinued operations
Basic earnings per share from discontinued operations 0 0
Diluted earnings per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings per share 0.39 0.42
Diluted earnings per share 0.39 0.42
23 Debt equity ratio 0.0 0.0
24 Debt service coverage ratio 0.0 0.0
25 Interest service coverage ratio 0.0 0.0
26 Disclosure of notes on financial results Textual Information(1)


Remarks
23 Debt equity ratio Not Applicable
24 Debt service coverage ratio Not Applicable
25 Interest service coverage ratio Not Applicable n


Text Block
Textual Information(1) NOTES : (1) The aforesaid consolidated financial results of IL&FS Investment Managers Limited (the “Holding Company”), its subsidiaries (the Holding Company and its subsidiaries together constitute the “Group”) and jointly controlled entities for the quarter and year ended March 31, 2025 along-with comparative quarter and year have been reviewed by the Audit Committee at its meeting held on July 18, 2025 and subsequently approved by the Board of Directors of the Company at its meeting held on July 18, 2025 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (2) The consolidated financial results have been prepared in accordance with the Indian Accounting Standards (referred to as “Ind AS”) as per the Companies (Indian Accounting Standards) Rules 2015 notified under Section 133 of the Companies Act, 2013 (CA 2013) and other relevant provisions of the CA 2013 as amended from time to time (3) As per requirements of Indian Accounting Standard (Ind AS) 108 on ‘Operating Segments’, based on evaluation of financial information for allocation of resources and assessing performance, the Group has identified a single segment i.e. providing asset management services and other related services. As such, there are no separate reportable business or geographical segments as per Ind AS 108 (4) The Ministry of Corporate Affairs (MCA), Government of India, has vide its letter dated October 1, 2018 initiated investigation by Serious Fraud Investigation Office (SFIO) against Infrastructure Leasing & Financial Services Limited (IL&FS), the Ultimate Holding Company and its subsidiaries (including the Company) under Section 212(1) of the Companies Act, 2013. On December 3, 2018, MCA on the directions of the National Company Law Tribunal, Mumbai (NCLT) has impleaded various Group Companies of IL&FS (which includes the Company) as Respondents to the Petition filed by them on October 1, 2018. The Company has received the “Summary of Charges” sent by the Ministry of Corporate Affairs through IL&FS, based on which the required action has been completed (5) The term of most of the existing funds being managed/advised by the Group has already been over. Other funds being managed/advised by the Group are approaching end of their term in near future which has resulted in significant reduction in the Group’s fee revenue. Management expects that its future income from existing funds being managed/advised together with liquid assets held by the Group as at March 31, 2025 will be adequately sufficient to meet the Group's existing and future obligations arising over the next 12 months. Management believes that use of the going concern assumption for preparation of these consolidated financial results is appropriate The IL&FS Board has been working on a resolution plan, with a view to enable value preservation for stakeholders of IL&FS Group. The resolution plan, inter alia, involves sale of assets/businesses/companies owned by IL&FS. In this regard, the IL&FS Board has on December 21, 2023 invited a public Expression of Interest (EoI) for sale of its entire stake in the Company. In response to the EOI, few prospective bidders have shown interest and the process is underway (6) The National Company Law Tribunal, Mumbai has passed an Order dated July 26, 2024 approving the Scheme of Amalgamation (“the Scheme”) of its two wholly owned subsidiaries IL&FS Asian Infrastructure Managers Limited (‘IAML’) and IIML Asset Advisors Limited (‘IAAL’) with the Holding Company, with appointed date as April 1, 2022. Upon completion of the formalities on August 23, 2024 the Scheme has become effective from the Appointed Date i.e. April 1, 2022. Consequently, the above mentioned wholly owned subsidiaries of the Holding Company stand dissolved without winding up (7) The figures for the three months ended March 31, 2025 & March 31, 2024 are the balancing figures between the audited figures with respect to full financial year and the published unaudited year to date figures upto the third quarter of the financial year which were subject to limited review (8) Matters related to a Subsidiary Company (“Andhra Pradesh Urban Infrastructure Asset Management Limited”) (“The Company”) : The Auditors of the Company has qualified for non-compliance with the provisions of the Companies Act, 2013, the views of Management of the Holding Company are as under : (a) The Company has obtained the ISIN and 51% of the total paid up share capital is held in dematerialized form and the rest of shareholder are holding share in physical form. The Company has since approached them to dematerialize their shareholding. b) The Company has not appointed Independent Director as prescribed under Section 149(4) read with Section 149(6) and Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 as it is an IL& FS group entity which has waiver from NCLT vide order dated April 26, 2019 from appointment of Independent Directors. c) The Company has appointed Chief Executive Officer on August 2, 2024 on deputation which is in Compliance of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The Company has appointed Chief Financial Officer on June 9, 2025, though the position was vacant as on March 31, 2025, which was in contravention of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (9) The Final meeting of IIML Fund Managers (Singapore) Pte Ltd which is in Member’s Voluntary Liquidation was held on August 6, 2024 and the necessary filings have been completed with the Accounting and Corporate Regulatory Authority, Singapore (ACRA). ACRA has approved the liquidation on November 7, 2024 (10) The Final meeting of Standard Chartered IL&FS Management (Singapore) Pte Ltd was held on September 27, 2024 and the necessary filings for striking off the entity have been completed with the Accounting and Corporate Regulatory Authority, Singapore (ACRA). ACRA has approved the liquidation on February 20, 2025 (11) The Company has 6 Subsidiaries and 1 Jointly controlled entities as at March 31, 2025 (12) The financial statements of its Joint Venture IL&FS Milestone Realty Advisors Private Limited has been prepared on the basis that it does not continue as a going concern (13) Previous year numbers are regrouped/reclassified wherever necessary


Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 145206000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0
Adjustments for decrease (increase) in inventories 0
Adjustments for decrease (increase) in trade receivables, current 95867000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -62795000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current -47471000
Adjustments for other financial assets, current -7838000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -19962000
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 -41275000
Adjustments for depreciation and amortisation expense 2475000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current -88715000
Adjustments for provisions, non-current -28575000
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 0
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) -55309000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow -22901000
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 1125000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -275374000
Net cash flows from (used in) operations -130168000
Dividends received -15000
Interest paid 0
Interest received -71074000
Income taxes paid (refund) 41926000
Other inflows (outflows) of cash 154215000
Net cash flows from (used in) operating activities -88968000
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 167550000
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 576000
Purchase of property, plant and equipment 1768000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 15000
Interest received 77186000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -49042000
Net cash flows from (used in) investing activities 194517000
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 0
Payments of lease liabilities 0
Dividends paid 219823000
Interest paid 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -219823000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -114274000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 11969000
Net increase (decrease) in cash and cash equivalents -102305000
Cash and cash equivalents cash flow statement at beginning of period 192506000
Cash and cash equivalents cash flow statement at end of period 90201000




Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Finanical Asset
Cash and cash equivalents 90201000
Bank Balance other than (a) above 1270207000
Derivative financial instruments 0
Receivables
(I) Trade Receivables 135847000
(II) Other Receivables 0
Loans 927000
Investments 504140000
Other Financial assets 206750000
Total Financial Assets 2208072000
2 Non Financial Asset
Inventories 0
Current tax assets (Net) 63139000
Deferred tax Assets (Net) 50714000
Investment Property 0
Biological assets other than bearer plants 0
Property, Plant and Equipment 3872000
Capital work-in-progress 0
Intangible assets under development 0
Goodwill 0
Other Intangible assets 120000
Other non-financial assets (to be specified) 67568000
Total Non Financial Assets 185413000
Total assets 2393485000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 628085000
Other equity 1423135000
Total equity attributable to owners of parent 2051220000
Non controlling interest 209059000
Total equity 2260279000
2 Liabilities
2.1 Financial Liabilities
(a) Derivative financial instruments 0
(b) Payables
(I)Trade Payables
(i) total outstanding dues of micro enterprises and small enterprises 1799000
(ii) total outstanding dues of creditors other than micro enterprises and small enterprises 62716000
II) Other Payables
(i) total outstanding dues of micro enterprises and small enterprises 0
(ii) total outstanding dues of creditors other than micro enterprises and small enterprises 0
(C ) Debt Securities 0
(d) Borrowings (Other than Debt Securities) 0
(e) Deposits 0
(f) Subordinated Liabilities 0
(g) Other financial liabilities 0
Total Financial Liabilities 64515000
2.2 Non-Financial Liabilities
(a) Current tax liabilities (Net) 0
(b) Provisions 21964000
(C ) Deferred tax liabilities (Net) 0
(d) Other non-financial liabilities 46727000
Total Non Financial Liabilities 68691000
Total liabilities 133206000
Total equity and liabilites 2393485000
Disclosure of notes on assets and liabilities


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
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
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)
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
Net Segment Asset
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities
Net Segment Liabilities
Disclosure of notes on segments


Other Comprehensive Income
Particulars 3 months/ 6 month 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 Actuarial Gain/(loss) of the defined benefit plans -713000 192000
Total Amount of items that will not be reclassified to profit and loss -713000 192000
2 Income tax relating to items that will not be reclassified to profit or loss -96514000 -105726000
3 Amount of items that will be reclassified to profit and loss
1 Gain/(Loss) on Foreign currency translation reserve -447000 11968000
Total Amount of items that will be reclassified to profit and loss -447000 11968000
4 Income tax relating to items that will be reclassified to profit or loss -76000 2024000
5 Total Other comprehensive income 95430000 115862000




Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion 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 KKC & Associates LLP Yes 31-Jul-2027


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 466397000 466397000
2 Total Expenditure 321191000 321191000
3 Net Profit/(Loss) 145206000 145206000
4 Earnings Per Share 0.42 0.42
5 Total Assets 2393485000 2393485000
6 Total Liabilities 133206000 133206000
7 Net Worth 2260279000 2260279000


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


Text Block
Textual Information(1) Refer below details of qualification as per nAudit Report dated July 18, 2025 n nAttention is drawn to Note 4 of the Consolidated Financial Results which describes the situation faced by the Group in view of the ongoing investigation by Serious Fraud Investigation Office of Ministry of Corporate Affairs (SFIO) against Infrastructure Leasing & Financial Services Limited (IL&FS or the Ultimate Holding Company), and its subsidiaries (including the Group). In view of the aforesaid ongoing investigations of the entire IL&FS Group by the SFIO, including the summary of charges received from Ministry of Corporate Affairs in October 2024 pertaining to the matters of the Group, we are unable to comment on the consequential impact(s) upon conclusion of the said investigation
Textual Information(2) Not Applicable
Textual Information(3) Unable to estimate impact
Textual Information(4) In the absence of any specific findings as on date, the financial impact if any can only be ascertained once the SFIO investigation is completed and the exercise of the restatement of financial statements is completed
Textual Information(5) No Comments
Textual Information(6) Qualification by component auditor in Subsidiary Company: Andhra Pradesh Urban Infrastructure Asset Management Limited (the Company) n nThe Company has not complied with the following provisions of the Companies Act, 2013: n ntPending Conversion of certain physical share certificates into dematerialised form, as required under Section 29(1A) read with Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014; n ntNon-appointment of a Chief Executive Officer and Chief Financial Officer following the resignation of incumbents, in contravention of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. n nWe also draw attention to Note 9 of the Consolidated Financial Results, wherein the management of the Holding Company has detailed its assessment in respect of the matters referred above. n
Textual Information(7) Not applicable
Textual Information(8) Unable to estimate impact
Textual Information(9) Matters related to a Subsidiary Company (Andhra Pradesh Urban Infrastructure Asset Management Limited) (The Company) : n nThe Auditors of the Company has qualified for non-compliance with the provisions of the Companies Act, 2013, the views of Management of the Holding Company are as under : n na)tThe Company has obtained the ISIN and 51% of the total paid up share capital is held in dematerialized form and the rest of shareholder are holding share in physical form. The Company has since approached them to dematerialize their shareholding. n nb)tThe Company has not appointed Independent Director as prescribed under Section 149(4) read with Section 149(6) and Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 as it is an IL& FS group entity which has waiver from NCLT vide order dated April 26, 2019 from appointment of Independent Directors. n nc)tThe Company has appointed Chief Executive Officer on August 2, 2024 on deputation which is in Compliance of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. n ntThe Company has appointed Chief Financial Officer on June 9, 2025, though the position was vacant as on March 31, 2025, which was in contravention of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 n
Textual Information(10) No Comments


Signatories details

Name of CEO / Managing director Lubna Usman
Name of CFO Lubna Usman
Name of audit committee chairman Munish Kumar Saraogi
Name of statutory auditor Bharat Jain
Name of other signatory, if any, with designation
Place Mumbai
Date 18-Jul-2025