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DEVELOPMENT COMPANY LIMITEDMain BoardEquity2024-04-012025-03-312025-05-282025-05-20INRLakhsQuarterlyFourth quarterMulti segment2025-05-2813:30:002025-05-2818:45:00trueCash Flow IndirectStatement on impact of audit qualification2025-01-012025-03-31AuditedConsolidated2819400072590003545300000019192000237290002542200039818000108161000-727080000-72708000123502000734770001969790000-2696870000000-269687000615000-269072000-2696870000615000047500000010-5.68-5.6800-5.68-5.682024-04-012025-03-31AuditedConsolidated327621000178740003454950000004871900096430000102629000117798000365576000-20081000-761460000-781541000123502000675940001910960000-9726370000000-972637000357000-972280000-9726370000357000047500000010-435318000-20.48-20.4800-20.48-20.48Other expenses39818000Other expenses1177980001303726000439330000052070000000005232100052321000948120006187400015618730007950000078670000426600015536300058784000229090003199920000256320003535740001915447000475000000-43531800039682000-66116000-26434000840550000000104200084159200056980000084729000062396400001405390001405390002800920001044595000499750002100000109459100019418810001915447000Other non current financial asset52321000Other non-current assets61874000Other current financial assets22909000Other current assets25632000Other non current financial liabilities1042000Other current financial liabilities280092000Other current liabilities49975000Generating division28194000Contract division0Trading division0Generating division327621000Contract division0Trading division0281940003276210000028194000327621000Generating division-25953000Contract division-771000Trading division23000Generating division128959000Contract division-2532000Trading division-269127000-26701000-142700000237290009643000022278000542411000-72708000-781541000Generating division1591118000Contract division95462000Trading division016865800002288670001915447000Generating division1226195000Contract division72821000Trading division473990001346415000595466000194188100096430000-1038000496150000173910000000-575300000010262900000000001423600000000-36370000241401000-540140000016010000076146000021971900000000000045762000000000000000000000111550000903000-3370400000000000052566000192000015246500000-205223000-192080000-19208000232350004027000Itmes that will not be reclassified to profit or loss831000831000Itmes that will not be reclassified to profit or loss482000482000216000125000615000357000AuditedAdverse opinionA L P S & Cotrue2027-07-3134549500034549500011270360001330833000-972637000-1176434000-20.48-24.771915447000177569400019418810002005925000-26434000-230231000Attention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter and year ended 31st March 2025- <br></br> <br></br> Note 3 regarding non-consolidation of financial results of two subsidiary companies viz, Eastern Ramganga Valley Hydel Projects Company Private Limited and Sarju Valley Hydel Projects Company Private Limited and associate company namely Arunachal Hydro Power Limited since financial results/ statements of these companies from the year ended 31st March, 2023 onwards are not available. Impact in this respect are presently not ascertainable and as such cannot be commented upon by us <br></br> Adverse opinionSince how long continuingNot ApplicableNot ApplicableImpact will be ascertainable only on receipt of Board approved financial statements and audited thereof of said subsidiary and associate companies.As stated herein above, the impact with respect to above and consequential adjustments cannot be ascertained by the management and as such cannot be commented upon by us.Attention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter year ended 31st March 2025- <br></br> <br></br> Note 9(b) regarding impairment in the value of investments aggregating to Rs. 5,600.00 lakhs in two of the wholly owned subsidiaries of the Company. Impact in this respect has not been ascertained by the management and recognized in the standalone financial results. <br></br> Adverse opinionSince how long continuingPending determination of the outcome of the recovery of the above amounts, no provision against the same have been considered necessary.Not ApplicableNot ApplicableNot ApplicableAttention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter and year ended 31st March 2025- <br></br> <br></br> Note 10 regarding payment of remuneration amounting to Rs. 40.20 lakhs to a director of the Parent Company, being shown as recoverable as stated in the said note. <br></br> Adverse opinionSince how long continuingNot ApplicableNot ApplicableThe above amount, pending necessary approvals, being held in trust, has been included under Other financial assets- current in Note 1 Statement of Audited Consolidated Assets and Liabilities.Impact in this respect has not been ascertained by the management and as such cannot be commented upon by us.Attention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter and year ended 31st March 2025- <br></br> <br></br> Note 11 regarding non-provision of interest of Rs. 640.44 lakhs, pending finalization of terms and conditions, in respect of loan of Rs. 2,000.00 lakhs taken from a body corporate by a subsidiary company. In the absence of the provision thereagainst, the loss for the year is understated to that extent. <br></br> Adverse opinionSince how long continuingImpact will become ascertainable on finalisation of terms and conditions of loanNot ApplicableNot ApplicableNot ApplicableAttention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter and year ended 31st March 2025- <br></br> <br></br> Note 12 regarding non-reconciliation of certain debit and credit balances including loans, advances, creditors, with confirmation thereof. <br></br> Adverse opinionSince how long continuingNot ApplicableNot ApplicableImpact will become ascertainable only upon reconciliations and confirmationsImpact in this respect has not been ascertained by the management and as such cannot be commented upon by usAttention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter and year ended 31st March 2025- <br></br> <br></br> Note 13(a) regarding demand notices aggregating to Rs. 18,817.47 lakhs pertaining to the Income Tax Assessment Order for Assessment Years 2011-2012 to 2020-2021 and the stay of demand pursuant to application filed by the Parent Company. The Parent Company has preferred necessary appeals before the Commissioner of Income Tax (Appeals). Pending determination of the amount payable in this respect, consequential impact is presently not ascertainable. <br></br> Adverse opinionSince how long continuingNot ApplicableNot ApplicableAs per the legal and professional advice received, the allegations and contentions made by the Income Tax Authorities are legally not tenable and no liability as such is expected to arise in this respect. Matter being pending in appeal, impact in this respect as such are not determinable.Impact in this respect has not been ascertained by the management and as such cannot be commented upon by usAttention has been drawn by the Auditor in the Basis for Adverse Opinion para to the following notes of the financial results for the quarter and year ended 31st March 2025- <br></br> <br></br> Note 13(c) regarding receipt of demand notices aggregating to Rs. 4,285.09 lakhs and Rs. 59.10 lakhs in two subsidiary companies viz, EDCL Power Projects Limited and Ayyappa Hydro Power Limited respectively. The management of respective subsidiary companies have preferred necessary appeals before the Commissioner of Income Tax (Appeals). Pending determination of the amount payable in this respect, consequential impact is presently not ascertainable. <br></br> Adverse opinionSince how long continuingNot ApplicableNot ApplicableAs per the legal and professional advice received, the allegations and contentions made by the Income Tax Authorities are legally not tenable and no liability as such is expected to arise in this respect. Matter being pending in appeal, impact in this respect as such are not determinableImpact in this respect has not been ascertained by the management and as such cannot be commented upon by usSatyendra Pal SinghPrabir GoswamiAman JainA. K. KhetawatKolkata2025-05-28