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 01-04-2025
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 Third quarter
Nature of report standalone or consolidated Standalone
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
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
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? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
No Borrowings


Financial Results — NBFC

Amount in (Lakhs)

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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
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 0.00 0.00
(ix) Other revenue from operations
Total other revenue from operations
Total Revenue From Operations 0.00 0.00
Other income 66.77 3,267.82
Total income 66.77 3,267.82
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 123.52 308.11
Finance costs 0.00 0.00
Depreciation, depletion and amortisation expense 0.07 1.01
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 27.02 81.05
2 Legal and Professional expense 39.28 108.46
3 Net (gain)/loss on sale of non-current Investment 0.00 84.57
4 Other Expenses 36.22 84.85
Total other expenses 102.52 358.93
Total expenses 226.11 668.05
3 Total profit before exceptional items and tax (159.34) 2,599.77
4 Exceptional items 0.00 0.00
5 Total profit before tax (159.34) 2,599.77
7 Tax expense
8 Current tax 0.00 0.00
9 Deferred tax 0.00 0.00
10 Total tax expenses 0.00 0.00
11 Net Profit Loss for the period from continuing operations (159.34) 2,599.77
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 0.00 0.00
15 Total profit (loss) for period (159.34) 2,599.77
16 Other comprehensive income net of taxes 57.29 58.99
17 Total Comprehensive Income for the period (102.05) 2,658.76
18 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
19 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
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 -0.05 0.83
Diluted earnings per share from continuing operations -0.05 0.83
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 -0.05 0.83
Diluted earnings per share -0.05 0.83
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 No Borrowings. Hence Debt Equity Ratio is not applicable
24 Debt service coverage ratio No Borrowings. Hence Debt Service Coverage Ratio is not applicable
25 Interest service coverage ratio No Borrowings. Hence Interest Service Coverage Ratio is not applicable


Text Block

Textual Information(1) NOTES : (1) The standalone 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 (2) The above standalone financial results for the quarter and period ended December 31, 2025 along-with comparative quarter have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at their respective meetings held on February 13, 2026 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The standalone financial results for the quarter and period ended as on December 31, 2025 have been reviewed by the statutory auditors of the Company (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 Company 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 on operating segment (4) In Standalone Financial results, the Other income includes Net gains/(losses) on fair value changes on Investments measured at FVTPL, Realised gain /(loss) on Sale of Investments and Others (5) 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 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 Holding Company has submitted the necessary response (6) The term of most of the existing Funds being managed/advised by the Company are approaching end of their extended term in the near future which has resulted in significant reduction in the Company’s fee revenue. Management expects that its future income from existing Funds being managed/advised together with liquid assets held by the Company as at December 31, 2025 will be adequately sufficient to meet the Company's existing and future obligations arising over the next 12 months. Management believes that use of the going concern assumption for preparation of these 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. And in this regard, the IL&FS Board had 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 (7) The Company has 6 Subsidiaries and 1 Jointly Controlled Entities as at December 31, 2025 (8) On November 21, 2025, the Government of India notified the provisions of the Labour Codes, which consolidate twenty-nine existing labour laws into a unified framework governing employee benefit during and after employment. Among other changes, the Codes introduce a uniform definition of wages and revise certain employee entitlements. The Company has evaluated and disclosed the incremental impact of these changes based on the position presently ascertainable, in line with the guidance issued by the Institute of Chartered Accountants of India. The Company has recognised an incremental expense of Rs 34.54 Lakh, relating to gratuity obligation, which has been presented as part of employee benefit expenses representing past service cost for the period ended December 31, 2025. The Company continues to monitor the finalisation of Central and State rules, as well as any further clarifications issued by the Government, and will incorporate any additional accounting implications as required in future periods (9) Previous year/ periods numbers are regrouped/reclassified wherever necessary




Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
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
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

Amount in (Lakhs)

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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
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
1 Actuarial Gain of the defined benefit plans 5729000 5899000
Total Amount of items that will not be reclassified to profit and loss 5729000 5899000
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
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 0.00 0.00
5 Total Other comprehensive income 57.29 58.99




Details of Impact of Audit Qualification

Amount in (Lakhs)

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


Financial details

Amount in (Lakhs)

Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 66.77 66.77
2 Total Expenditure 226.11 226.11
3 Net Profit/(Loss) (159.34) (159.34)
4 Earnings Per Share -0.05 -0.05
5 Total Assets 9,556.51 9,556.51
6 Total Liabilities 292.06 292.06
7 Net Worth 9,264.45 9,264.45


Standalone Audit qualification

Amount in (Lakhs)

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)


Text Block

Textual Information(1) Refer below details of qualification as per

Audit Report dated February 13, 2026



Attention is invited to Note 5 of the Statement which describes the situation faced by the Company 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 Holding Company), and its subsidiaries (including the Company). 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 Company, 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


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 13-02-2026