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POWER VENTURES LIMITEDMain BoardEquity2024-04-012025-03-312025-05-012025-04-24INRLakhsQuarterlyFourth quarterMulti segment2025-05-0115:30:002025-05-0117:10:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2025-02-01https://www.jppowerventures.com/wp-content/uploads/2025/02/Related-Party-Transaction-Policy.pdffalsefalseCompany has no default on Loans and Debt Securities during period under review. 2025-01-012025-03-31AuditedStandalone13409100000254300000136634000008094400000004527000009741000001158700000976600000116565000002006900000020069000002023000002497000004520000000155490000000001554900000-900000155400000068534600000100.160.16000.160.160.00270.0220.04282024-04-012025-03-31AuditedStandalone54621900000244110000057063000000325023000000015228000004141300000470200000020490000004491740000012145600000012145600000125180000027865000004038300000081073000000000810730000020000081075000006853460000010161978000000.890.89000.890.890.00270.02680.0506Consultancy, legal & professional fee121600000Bad debts/other debit balances written off300000Provision for Doubtful Advances0Director's sitting fee including GST & service tax2200000Power, water and electricity charges59700000Miscellaneous expenses684200000Rent4400000Exchange rate fluctuation(net)0Taxes & fees13300000Corporate Social Responsibility90900000Consultancy, legal & professional fee279900000Bad debts/other debit balances written off300000Provision for Doubtful Advances1700000Director's sitting fee including GST & service tax5600000Power, water and electricity charges165800000Miscellaneous expenses1325300000Rent19300000Exchange rate fluctuation(net)300000Taxes & fees34600000Corporate Social Responsibility216200000125083000000748200000014000001200200000662700000072210000000010950000046520000004761500000001396780000005825400000094323000008922700000663300000008655000002585350000010194000005412200000381105000000017778850000068534600000542531000001227877000001227877000003242160000000010830000032529900000431000000468170000001576900000392195000005234600000740000002140500000221450000071724000001462150000011430000001680000000157813000000055000800000177788500000Power13410000000Coal2229000000Sand Mining0Others,Cement Grinding etc.0Power54625400000Coal7297900000Sand Mining0Others,Cement Grinding etc.01563900000061923300000222990000073014000001340910000054621900000Power4433000000Coal75600000Sand Mining0Others,Cement Grinding etc.-368900000Power21117500000Coal299800000Sand Mining0Others,Cement Grinding etc.-428400000413970000020988900000974100000414130000011587000004702000000200690000012145600000Power162831100000Coal3597800000Sand Mining95700000Others,Cement Grinding etc.112639000001777885000000177788500000Power14810500000Coal1474800000Sand Mining0Others,Cement Grinding etc.5219300000215046000000215046000004141300000-5899000002433400000000-440000000000004702000000068400000-8500000-1686100000000003441000000000093607000002150630000000-23274000002032900000-40000017145600000000000001700000000024275000000000000000000017545000000105950000038820000000000000047815000000041087000000-28300000-89185000008615300000086153000003074000008922700000Items that will not be reclassified to profit or loss-1300000-1300000Items that will not be reclassified to profit or loss400000400000-40000020000000-900000200000Jaiprakash Power Ventures Limited******Jaiprakash Associates Limited******Related PartyPurchase of goods or services1013000000-37562000000Jaiprakash Power Ventures Limited******Jaiprakash Associates Limited******Related PartySale of goods or services60000000-1503000000Jaiprakash Power Ventures Limited******Jaiprakash Associates Limited******Related PartyPurchase of fixed assets330000000-13584000000Jaiprakash Power Ventures Limited******Jaiprakash Associates Limited******Related PartySale of fixed assets0-000Jaiprakash Power Ventures Limited******Jaiprakash Associates Limited******Related PartyAny other transactionLease23000000-1277000000Jaiprakash Power Ventures Limited******Himalayaputra Aviation Limited******Related PartyInterest received0-753000000Jaiprakash Power Ventures Limited******Bhilai Jaypee Cement Ltd.******Related PartyAny other transactionPurchase of clinker for CGU and stores and spares etc. for repair and maintenance of plant15000000-000Jaiprakash Power Ventures Limited******Jaypee Cement Corporation Ltd.******Related PartyPurchase of goods or services0-000Jaiprakash Power Ventures Limited******Jaypee Infra Ventures Private Limited ( JIVPL)******Related PartyPurchase of goods or services100000000-5212000000Jaiprakash Power Ventures Limited******JIL Information Technology Ltd.******Related PartyPurchase of goods or services60000000-3837000000Jaiprakash Power Ventures Limited******Mahabhadra Constructions Limited******Related PartyPurchase of goods or services250000000-13619000000Jaiprakash Power Ventures Limited******Mahabhadra Constructions Limited******Related PartyPurchase of goods or services1000000000-57830000000Jaiprakash Power Ventures Limited******Mahabhadra Constructions Limited******Related PartyPurchase of fixed assets6018000000-10000000Jaiprakash Power Ventures Limited******Gaur & Nagi Ltd.******Related PartyPurchase of goods or services2500000-32000000Jaiprakash Power Ventures Limited******Jaiprakash Associates Limited******Related PartyAny other transactionSettlement of liabilities by entity on behalf of related party0-438700000Jaiprakash Power Ventures Limited******Sangam Power Generation Co. Ltd.******Related PartyAny other transactionSettlement of liabilities by entity on behalf of related party0-35400000Jaiprakash Power Ventures Limited******Jaypee Arunachal Power Ltd******Related PartyAny other transactionSettlement of liabilities by entity on behalf of related party0-000Jaiprakash Power Ventures Limited******Jaypee Meghalaya Power Ltd******Related PartyAny other transactionSettlement of liabilities by entity on behalf of related party0-000Jaiprakash Power Ventures Limited******Bina Mines and Supply Ltd******Related PartyInterest received0-530000000Jaiprakash Power Ventures Limited******Shri Sunil Kumar Sharma******KMP - WTDAny other transactionEmployee Benefit0-1295000000Jaiprakash Power Ventures Limited******Shri Suren Jain******KMP -MD & CEOAny other transactionEmployee Benefit0-1496000000Jaiprakash Power Ventures Limited******Shri Praveen Kumar Singh******KMP - WTDAny other transactionEmployee Benefit0-1084000000Jaiprakash Power Ventures Limited******Shri R. K. Porwal******KMP -CFOAny other transactionEmployee Benefit0-325000000Jaiprakash Power Ventures Limited******Shri Mahesh Chaturvedi******KMP -CSAny other transactionEmployee Benefit0-143000000Jaiprakash Power Ventures Limited******Shri Sunil Kumar Sharma******KMP - WTDAny other transactionCommission Executive Director0-250000000Jaiprakash Power Ventures Limited******Shri Suren Jain******KMP -MD & CEOAny other transactionCommission Executive Director0-500000000Jaiprakash Power Ventures Limited******Shri Praveen Kumar Singh******KMP - WTDAny other transactionCommission Executive Director0-125000000Jaiprakash Power Ventures Limited******Shri Manoj Gaur******Non Executive DirectorAny other transactionSitting Fee0-26500000Jaiprakash Power Ventures Limited******Shri Pritesh Vinay******Non Executive DirectorAny other transactionSitting Fee0-150000001414826000AuditedQualified opinionLodha & Co. LLPtrue2027-03-315706300000057063000000449174000004491740000012145600000121456000000.890.891777885000001777885000005500080000055000800000122787700000122787700000Note no. 3(a) regarding non provision against corporate guarantee provided to lenders (SBI) of JAL. As stated in the note no. 3(a) of the accompanying financial results, on filing of the petition by a commercial bank before the National Company Law Tribunal (NCLT) bench at Allahabad, Jaiprakash Associates Limited (JAL) (the party to whom the company is an associate) has been admitted into/for Corporate Insolvency Resolution Process (CIRP) vide NCLT Order dated 3rd June, 2024 and IRP was appointed. As stated in the said note, the Company had given a corporate guarantee (CG) to State Bank of India (SBI) of USD 1,500 lakhs (31st March, 2024 USD 1,500 Lakhs) [equivalent Rs. 123,915 lakhs, USD converted at the exchange rate of Rs. 82.61 per USD] against loans granted by SBI to JAL. Also, during the earlier year, the Company has received a legal demand cum recall notice from SBI for corporate guarantee provided by the Company, however for the reasons as stated in the said note, the Company has disputed the same and presently in process of discussion with SBI. Further as stated, the SBI has filed a case for recovery in DRT-III at Delhi against JAL along with other parties where Company has also been made a party as a corporate guarantor. <br></br> <br></br> Further, to that extent non-compliance of Ind AS 113 as fair valuation has also not been carried out of stated CG. Also, drawn attention to the note no. 3(a) read with note no. 8 where as stated in the said notes, there was/is non -compliance of SEBI Circular dated April 17, 2014 (as also been pointed out by the SEBI in its SCN/Order to the Company and its four directors, MD and CEO, and CFO). <br></br> <br></br> As stated in note no. 3(a) of the accompanying financial results in the opinion of the management, pending claims of the Company before IRP and the Company is in discussion with SBI for release of corporate guarantee in view of the Framework Agreement, presently the impact (amount) is unascertainable as stated in the said note. <br></br> <br></br> As stated in para (A) above, impact is unascertainable in the opinion of the management. <br></br> Qualified opinionRepetitiveImpact is not quantified Impact can not be quantifiedIn the opinion of the Management there will be no material impact of the fair valuation of the following guarantee on the financial result/ statement of affairs. Accordingly fair valuation is not being considered and recorded in this financial statement. <br></br> <br></br> Corporate Guarantee of US$ 1,500 Lakhs in favour of State Bank of India, Hong Kong branch for the credit facilities granted by lenders to Jaiprakash Associates Limited (Party to whom the company is Associate). The principal amount of loan outstanding of US$ 1,300 Lakhs (equivalent to Rs. 70,333 lakhs) has been converted into rupee term loan by State Bank of India vide sanction letter dated 28th December, 2016.Subsequent to the accounting of the impact of Framework Agreement (Framework Agreement with its lenders for debt restructuring in earlier year), the Company had initiated process for the release of the guarantee provided to SBI. However, further in response to their legal demand cum recall notice, the following has been replied : <br></br> <br></br> Said Corporate Guarantee has no essence to lodge/invoke against any claim on or after 18.04.2019 (execution date of Framework Agreement) since the same was to be released by the State Bank of India (@), being one of the participant of the DRP as explained above (provisions of the Framework Agreement will be apply mutatis mutandis) and accordingly sustainability of the Resolution Plan was worked out without considering any liability on account of the said Corporate Guarantee on the basis of Financial Projections duly approved by the Consortium of Lenders of JPVL including SBI. <br></br> [(@) as stated in the note no. 3(a) SBI has assigned its fund based claim outstanding due for JAL to the National Reconstruction Company Limited] <br></br> Presently Impact cannot be quantified. <br></br> No further comments received from AuditorsAs stated in para in (A) above, JAL has been admitted into Corporate Insolvency Resolution Process (CIRP) and IRP/RP has been appointed. We draw the attention to the note no. 3(b) of the accompanying financial results that the Company has paid advance of Rs. 3,434 lakhs (net) to/for carrying out certain works/repairs under different contracts. Against advance payment made to JAL, no provision has been made and as stated in the said note and the Company has filed claims with RP for advance amount paid and other claims [note no. 3(b)] which are pending, hence presently in the opinion of the management, amount is unascertainable and not been provided for. <br></br> <br></br> Matter stated in para (A) above had also been qualified in our audit report on the standalone financial results/statements for the quarter/year ended March 31, 2024 and limited review report for the preceding quarter ended December 31, 2024. Matter stated in para (B) had also been qualified in our limited review on the standalone financial results, for the preceding quarter ended December 31, 2024. <br></br> Qualified opinionRepetitiveImpact is not quantifiedIn the opinion of the Management, there are fair chances for recovery of this amount and there is no Provision required for it.JAL is doing Civil Work and other works for JPVL. It is also doing Coal Handling work at Jaypee Bina Thermal Power Plant. There is regular recovery from JAL, during the current F.Y. The Company has originally filed claim of Rs. 4,841 lakhs (net). However, as on 31st March ,2025, balance in the account of JAL is Rs. 3,434 lakhs (net). In the opinion of the Management, there are fair chances for recovery of this amount and there is no Provision required for it.No further comments received from AuditorsSUREN JAINRAM KUMAR PORWALDR. DINESH KUMAR LIKHINARENDER KUMAR LODHANEW DELHI2025-05-01