| 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 | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 13-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 09-02-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Second quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | Management Fees |
| Start date and time of board meeting | 13-02-2026 12:30:00 |
| End date and time of board meeting | 13-02-2026 20:00:00 |
| 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 | 01-07-2025 | 01-04-2025 |
| B | Date of end of reporting period | 30-09-2025 | 30-09-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | |||
| (i) | Interest Income | 0.00 | 0.00 |
| (ii) | Dividend Income | 0.00 | 0.00 |
| (iii) | Rental Income | 0.00 | 0.00 |
| (iv) | Fees and commission Income | 0.00 | 0.00 |
| (v) | Net gain on fair value changes | 0.00 | 0.00 |
| (vi) | Net gain on derecognition of financial instruments under amortised cost category | 0.00 | 0.00 |
| (vii) | Sale of products (including Excise Duty) | 0.00 | 0.00 |
| (viii) | Sale of services | 716.61 | 1,296.35 |
| (ix) | Other revenue from operations | ||
| Total other revenue from operations | |||
| Total Revenue From Operations | 716.61 | 1,296.35 | |
| Other income | 386.68 | 695.97 | |
| Total income | 1,103.29 | 1,992.32 | |
| 2 | Expenses | ||
| Cost of materials consumed | 0.00 | 0.00 | |
| Purchases of stock-in-trade | 0.00 | 0.00 | |
| Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 | |
| Employee benefit expense | 219.19 | 420.59 | |
| Finance costs | 0.00 | 0.00 | |
| Depreciation, depletion and amortisation expense | 4.32 | 9.57 | |
| Fees and commission expense | 0.00 | 0.00 | |
| Net loss on fair value changes | 0.00 | 0.00 | |
| Net loss on derecognition of financial instruments under amortised cost category | 0.00 | 0.00 | |
| Impairment on financial instruments | 0.00 | 0.00 | |
| (f) | Other expenses | ||
| 1 | Rent expense | 41.26 | 85.22 |
| 2 | Legal and Professional expense | 464.84 | 799.92 |
| 3 | Expected Credit loss arising on Receivables | (340.38) | (199.07) |
| 4 | Net Loss on sale of non-current Investments | 84.57 | 84.57 |
| 5 | Other Expenses | 138.29 | 257.01 |
| Total other expenses | 388.58 | 1,027.65 | |
| Total expenses | 612.09 | 1,457.81 | |
| 3 | Total profit before exceptional items and tax | 491.20 | 534.51 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 491.20 | 534.51 |
| 7 | Tax expense | ||
| 8 | Current tax | 55.35 | 110.42 |
| 9 | Deferred tax | 91.79 | 57.02 |
| 10 | Total tax expenses | 147.14 | 167.44 |
| 11 | Net Profit Loss for the period from continuing operations | 344.06 | 367.07 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 17 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 14 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 9.39 | 9.12 |
| 15 | Total profit (loss) for period | 353.45 | 376.19 |
| 16 | Other comprehensive income net of taxes | 264.27 | 267.95 |
| 17 | Total Comprehensive Income for the period | 617.72 | 644.14 |
| 18 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 268.32 | 356.45 | |
| Total profit or loss, attributable to non-controlling interests | 85.13 | 19.74 | |
| 19 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 264.27 | 267.88 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 0.00 | 0.07 | |
| 20 | Details of equity share capital | ||
| Paid-up equity share capital | 6,280.85 | 6,280.85 | |
| Face value of equity share capital | 2 | 2 | |
| 21 | Reserves excluding revaluation reserve | ||
| 22 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings per share from continuing operations | 0.09 | 0.11 | |
| Diluted earnings per share from continuing operations | 0.09 | 0.11 | |
| 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 | 0.09 | 0.11 | |
| Diluted earnings per share | 0.09 | 0.11 | |
| 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) | |
| 23 | Debt equity ratio | Not applicable as there are not Borrowings in the Company |
|---|---|---|
| 24 | Debt service coverage ratio | Not applicable as there are not Borrowings in the Company |
| 25 | Interest service coverage ratio | Not applicable as there are not Borrowings in the Company |
| Textual Information(1) | NOTES : (1) The aforesaid consolidated financial results of IL&FS Investment Managers Limited (the “Holding Company” or “the Company”), its subsidiaries (the Holding Company and its subsidiaries together constitute the “Group”) and jointly controlled entities for the quarter and half year ended September 30, 2025 along-with comparative period have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on February 13, 2026 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consolidated financial results for the quarter and half year ended September 30, 2025 have been subjected to Limited Review by the Statutory Auditors of the Company (2) The consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 – Interim Financial Reporting, notified under Section 133 of the Companies Act 2013 read with Companies (Indian Accounting Standards) Rules 2015, as amended from time to time and other accounting principles generally accepted in India (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 IL&FS or 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 Ultimate Holding Company has submitted the necessary response (5) The terms of most of the existing funds managed or advised by the Holding Company and few of its subsidiaries are approaching the end of their extended terms in the near future. As a result, the Group did not generate significant fee income during the quarter and half year ended September 30, 2025, apart from project revenue from one subsidiary, which was relatively low Management expects that the future income from the remaining funds under management and Project revenues, along with the liquid assets held by the Group as of September 30, 2025, will be adequate to meet the Group's current and future obligations over the next 12 months. Based on this expectation, management believes that the use of the going concern assumption in preparing the Group's consolidated financial results remains 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 summarised unaudited standalone financial results of the Holding Company are as below. The detailed standalone financial results of the Holding Company are available on the Holding Company’s website www.iimlindia.com (7) The Group has 6 Subsidiaries and 1 Jointly Controlled Entities as at September 30, 2025 (8) 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 (9) The Holding Company Management is currently in the process of reviewing and assessing the recoverability of unbilled revenue pertaining to one of the Company’s subsidiaries, Andhra Pradesh Urban Infrastructure Asset Management Limited (“APUIAML”), in consultation with the subsidiary’s management and based on ongoing communications with the concerned parties. Appropriate actions, including recognition of any provision or write-off, if required, will be undertaken by the Subsidiary management upon completion of this assessment at the earliest (10) Previous year numbers are regrouped/reclassified wherever necessary |
|---|
| Particulars | Year ended (dd-mm-yyyy) | |
|---|---|---|
| A | Date of start of reporting period | 01-04-2025 |
| B | Date of end of reporting period | 30-09-2025 |
| C | Whether results are audited or unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated |
| Statement of cash flows | ||
| Cash flows from used in operating activities | ||
| Profit before tax | 534.51 | |
| Adjustments for reconcile profit (loss) | ||
| Adjustments for finance costs | 0.00 | |
| Adjustments for decrease (increase) in inventories | 0.00 | |
| Adjustments for decrease (increase) in trade receivables, current | 480.50 | |
| 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 | 0.00 | |
| Adjustments for other financial assets, current | (190.70) | |
| Adjustments for other bank balances | 0.00 | |
| Adjustments for increase (decrease) in trade payables, current | 57.86 | |
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |
| Adjustments for increase (decrease) in other current liabilities | (30.44) | |
| Adjustments for increase (decrease) in other non-current liabilities | 31.44 | |
| Adjustments for depreciation and amortisation expense | 9.57 | |
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |
| Adjustments for provisions, current | (199.07) | |
| Adjustments for provisions, non-current | 0.00 | |
| Adjustments for other financial liabilities, current | 0.00 | |
| 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) | (271.16) | |
| Adjustments for undistributed profits of associates | 0.00 | |
| Other adjustments for which cash effects are investing or financing cash flow | 2.94 | |
| Other adjustments to reconcile profit (loss) | (102.50) | |
| Other adjustments for non-cash items | 40.35 | |
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 9.11 | |
| Total adjustments for reconcile profit (loss) | (162.10) | |
| Net cash flows from (used in) operations | 372.41 | |
| Dividends received | 0.00 | |
| Interest paid | 0.00 | |
| Interest received | (340.26) | |
| Income taxes paid (refund) | 182.52 | |
| Other inflows (outflows) of cash | 0.00 | |
| Net cash flows from (used in) operating activities | (150.37) | |
| 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 | 165.51 | |
| 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 | 1.78 | |
| Purchase of property, plant and equipment | 0.99 | |
| 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 | 113.03 | |
| 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 | 441.51 | |
| Income taxes paid (refund) | 0.00 | |
| Other inflows (outflows) of cash | 2,401.33 | |
| Net cash flows from (used in) investing activities | 3,122.17 | |
| 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 | 0.00 | |
| Payments of lease liabilities | 0.00 | |
| Dividends paid | 983.21 | |
| Interest paid | 0.00 | |
| Income taxes paid (refund) | 0.00 | |
| Other inflows (outflows) of cash | 0.00 | |
| Net cash flows from (used in) financing activities | (983.21) | |
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | 1,988.59 | |
| Effect of exchange rate changes on cash and cash equivalents | ||
| Effect of exchange rate changes on cash and cash equivalents | 264.67 | |
| Net increase (decrease) in cash and cash equivalents | 2,253.26 | |
| Cash and cash equivalents cash flow statement at beginning of period | 902.00 | |
| Cash and cash equivalents cash flow statement at end of period | 3,155.26 | |
| Particulars | Year ended (dd-mm-yyyy) | ||
|---|---|---|---|
| Date of start of reporting period | 01-04-2025 | ||
| Date of end of reporting period | 30-09-2025 | ||
| Whether results are audited or unaudited | Unaudited | ||
| Nature of report standalone or consolidated | Consolidated | ||
| Assets | |||
| 1 | Finanical Asset | ||
| Cash and cash equivalents | 3,155.26 | ||
| Bank Balance other than (a) above | 8,030.91 | ||
| Derivative financial instruments | 0.00 | ||
| Receivables | |||
| (I) Trade Receivables | 1,077.04 | ||
| (II) Other Receivables | 0.00 | ||
| Loans | 8.61 | ||
| Investments | 4,993.70 | ||
| Other Financial assets | 4,343.74 | ||
| Total Financial Assets | 21,609.26 | ||
| 2 | Non Financial Asset | ||
| Inventories | 0.00 | ||
| Current tax assets (Net) | 703.53 | ||
| Deferred tax Assets (Net) | 450.12 | ||
| Investment Property | 0.00 | ||
| Biological assets other than bearer plants | 0.00 | ||
| Property, Plant and Equipment | 25.78 | ||
| Capital work-in-progress | 0.00 | ||
| Intangible assets under development | 0.00 | ||
| Goodwill | 0.00 | ||
| Other Intangible assets | 0.84 | ||
| Other non-financial assets (to be specified) | 952.70 | ||
| Total Non Financial Assets | 2,132.97 | ||
| Total assets | 23,742.23 | ||
| Equity and liabilities | |||
| 1 | Equity | ||
| Equity attributable to owners of parent | |||
| Equity share capital | 6,280.85 | ||
| Other equity | 13,872.46 | ||
| Total equity attributable to owners of parent | 20,153.31 | ||
| Non controlling interest | 211040000 | ||
| Total equity | 22,263.71 | ||
| 2 | Liabilities | ||
| 2.1 | Financial Liabilities | ||
| (a) | Derivative financial instruments | ||
| (b) | Payables | ||
| (I)Trade Payables | |||
| (i) total outstanding dues of micro enterprises and small enterprises | 18.32 | ||
| (ii) total outstanding dues of creditors other than micro enterprises and small enterprises | 684.69 | ||
| II) Other Payables | |||
| (i) total outstanding dues of micro enterprises and small enterprises | 0.00 | ||
| (ii) total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | ||
| (C ) | Debt Securities | 0.00 | |
| (d) | Borrowings (Other than Debt Securities) | 0.00 | |
| (e) | Deposits | 0.00 | |
| (f) | Subordinated Liabilities | 0.00 | |
| (g) | Other financial liabilities | 0.00 | |
| Total Financial Liabilities | 703.01 | ||
| 2.2 | Non-Financial Liabilities | ||
| (a) | Current tax liabilities (Net) | 0.00 | |
| (b) | Provisions | 189.19 | |
| (C ) | Deferred tax liabilities (Net) | 0.00 | |
| (d) | Other non-financial liabilities | 586.32 | |
| Total Non Financial Liabilities | 775.51 | ||
| Total liabilities | 1,478.52 | ||
| Total equity and liabilites | 23,742.23 | ||
| 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) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-07-2025 | 01-04-2025 |
| B | Date of end of reporting period | 30-09-2025 | 30-09-2025 |
| Whether results are audited or unaudited | Unaudited | Unaudited | |
| 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 | |||
| 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 | 01-07-2025 | 01-04-2025 |
| B | Date of end of reporting period | 30-09-2025 | 30-09-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| 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 of the defined benefit plans | -414000 | 325000 |
| Total Amount of items that will not be reclassified to profit and loss | -414000 | 325000 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | (0.63) | (0.03) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Gain/(Loss) on Foreign currency translation reserve (net) | 26778000 | 26467000 |
| Total Amount of items that will be reclassified to profit and loss | 26778000 | 26467000 | |
| 4 | Income tax relating to items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | 264.27 | 267.95 |
| Whether results are audited or unaudited | Unaudited |
|---|---|
| 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 | 31-07-2027 | ||
|---|---|---|---|---|---|
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
| 1 | Turnover / Total income | 857.12 | 857.12 |
| 2 | Total Expenditure | 1,140.85 | 1,140.85 |
| 3 | Net Profit/(Loss) | (283.73) | (283.73) |
| 4 | Earnings Per Share | -0.06 | -0.06 |
| 5 | Total Assets | 23,742.22 | 23,742.22 |
| 6 | Total Liabilities | 1,478.51 | 1,478.51 |
| 7 | Net Worth | 22,263.71 | 22,263.71 |
| 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) |
| Textual Information(1) | Refer below details of qualification as per Audit Report dated February 13, 2026 Attention is drawn to Note 4 of the Statement 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 by the Ultimate Holding Company 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) | We draw attention to Note No. 9 to the Statement regarding unbilled revenue outstanding for more than one year in respect of one of the subsidiary companies, Andhra Pradesh Urban Infrastructure Asset Management Limited (APURBAN). As reported by the auditors of the said subsidiary, such unbilled revenue ought to have been reversed and non-reversal of the same may resulting in overstatement of revenue and contract asset balances (Unbilled revenue) in the accompanying Statement. Accordingly, in our view, revenue and contract assets (unbilled revenue) are overstated to that extent |
| Textual Information(7) | The Management of APUIAML is in the process of reviewing the outstanding position of unbilled revenues within the policy framework approved by its Board |
| Textual Information(8) | Not ascertainable |
| Textual Information(9) | In the absence of any specific findings as on date, the financial impact if any can only be ascertained on detailed analysis. |
| Textual Information(10) | No Comments |
| 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 | 13-02-2026 |