| Textual Information(1) |
NOTES: (1) The aforesaid Unaudited 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 entity for the quarter ended June 30, 2026 along-with comparative quarter have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on August 13, 2026 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The unaudited consolidated financial results for the quarter ended June 30, 2026 have been reviewed by the Statutory Auditors of the Company. (2) The Unaudited 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) Figures for the quarter ended March 31, 2026 are balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and the unaudited published year to date figures upto third quarter ended December 31, 2025 which were subjected to a limited review by the Statutory Auditors of the Company. (4) 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. (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 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 Holding 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. (6) The extended term of the existing funds which were managed/advised by the Holding Company had ended during the previous financial year which has resulted in no fee income of the Holding Company and a significant reduction in few of the Group Company’s fee revenue. Management expects that its existing earnings and liquid assets held by the Group as at June 30, 2026 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 the preparation of these unaudited 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 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 summarised unaudited standalone financial results of the Holding Company are as below. The detailed unaudited standalone financial results of the Holding Company are available on the Holding Company’s website www.iimlindia.com. (8) The Group has 6 Subsidiaries and 1 Jointly Controlled Entity as at June 30, 2026. (9) The financial results 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. (10) On November 21, 2025, the Government of India notified the provisions of the Labour Codes, which consolidate twenty-nine existing labour laws into a single framework governing employee benefit during and after employment. The Codes, inter alia, introduce a uniform definition of wages and revise certain employee entitlements. The Group has evaluated the incremental impact of these changes based on the position presently ascertainable and has disclosed the same in line with the guidance issued by the Institute of Chartered Accountants of India. Accordingly, the Group has recognized an incremental expense of Rs. 77.54 lakhs during the year ended 31 March 2026, towards gratuity obligations, which has been presented as part of employee benefit expenses and represents past service cost. The Group continues to monitor the notification of Central and State rules, as well as any further clarifications issued by the Government, and will recognise any additional accounting implications as and when the rules are notified and become effective. (11) The Subsidiary Company, IL&FS Infra Asset Management Limited ('IIAML') has earned Management Fee of Rs. 487.21 Lakhs (excluding GST) during the period from April 2026 to June 2026 out of which Rs. 264.21 Lakhs (excluding GST) represents Management fee pertaining to earlier periods which has been on account of recovery of one of past Non-Performing Assets (NPA) accounts of IL&FS Mutual Fund IDF where it has made substantial NPA recovery during the period through enforcement of security and Legal remedies. This Management fee of Rs. 264.21 Lakhs (excluding GST) for the earlier periods has been approved by both the Boards of directors of the IIAML and IL&FS AMC Trustee Limited and the same was pertaining to one specific NPA account against which 100% provisioning has been made since FY 2019-2020 to FY 2020-2021. (12) A Subsidiary Company, IL&FS Infra Asset Management Limited (the Company), had granted an unsecured ICD of Rs. 2,000 Lakhs to one of the Subsidiary of IL&FS in March 2018, which, together with accrued interest, was subsequently written off due to the deterioration in financial position and credit rating of that Subsidiary of IL&FS. Pursuant to the NCLAT-approved resolution framework, the Company recovered Rs. 249.06 Lakhs during the quarter ended June 30, 2026, which has been recognised as an exceptional item in the unaudited financial results for the quarter. (13) The Subsidiary Company had written off unbilled revenue aggregating to Rs. 921.02 Lakh during the financial year 2025-2026, which was charged to the Statement of Profit and Loss for that year. The Management of the Subsidiary Company has subsequently evaluated the recoverability of the Unbilled revenue balance as at June 30, 2026. (14) Previous year numbers are regrouped wherever considered necessary. |