5329392026-01-012026-03-315329392026-03-315329392025-03-315329392025-04-012026-03-315329392026-01-012026-03-31in-capmkt:OtherExpenses1Member5329392025-04-012026-03-31in-capmkt:OtherExpenses1Member5329392026-03-31OtherNoncurrentFinancialAssetsDomain15329392026-03-31OtherNoncurrentFinancialAssetsDomain25329392026-03-31OtherNoncurrentAssetsDomain15329392026-03-31OtherNoncurrentAssetsDomain25329392026-03-31OtherCurrentFinancialAssetsDomain15329392026-03-31OtherCurrentFinancialAssetsDomain25329392026-03-31OtherCurrentAssetsDomain15329392026-03-31OtherNoncurrentFinancialLiabilitiesDomain15329392026-03-31OtherNoncurrentLiabilitiesDomain15329392026-03-31OtherCurrentFinancialLiabilitiesDomain15329392026-03-31OtherCurrentLiabilitiesDomain15329392026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15329392025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15329392026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15329392025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15329392026-01-012026-03-31AuditorDomain15329392026-01-012026-03-31in-capmkt:AuditedMember5329392026-03-31in-capmkt:AuditedMember5329392026-01-012026-03-31in-capmkt:AdjustedMember5329392026-03-31in-capmkt:AdjustedMember5329392026-01-012026-03-31OtherFinancialItemDomain1in-capmkt:AuditedMember5329392026-01-012026-03-31OtherFinancialItemDomain1in-capmkt:AdjustedMember5329392026-01-012026-03-31AuditQualification15329392026-01-012026-03-31AuditQualification25329392026-01-012026-03-31AuditQualification3iso4217:INRiso4217:INRxbrli:shares532939RPOWERNOTLISTEDINE614G01033Reliance Power LimitedMain BoardEquity2025-04-012026-03-312026-05-212026-05-17INRLakhsQuarterlyFourth quarterSingle segmentPower Generation2026-05-2118:00:002026-05-2119:30:00trueCash Flow IndirectStatement on impact of audit qualification2026-01-012026-03-31UnauditedConsolidated188726000005907000001946330000095524000000057940000047406000002052200000297790000019902500000-439200000-3816000000-42552000001869000004965000006834000000-4938600000-14000000-14000000-4940000000-115000000-5055000000-49400000000-11500000004135780000010-1.19-1.1900-1.19-1.192025-04-012026-03-31AuditedConsolidated761971000003688100000798852000003799110000000232330000016662100000829210000012249500000775181000002367100000-3816000000-1448900000829900000108870000019186000000-3367500000-14000000-14000000-3368900000-156700000-3525600000-33689000000-15670000004135780000010107671800000-0.82-0.8200-0.82-0.82Generation, administration and other expenses2977900000Generation, administration and other expenses1224950000030913030000017204800000011270000019470000000014186000000036445600000378642000000131020000036581690000010164400000013101000000122446000004807000000441600000416760000034761800000012513000004617750000093150000004129259000004135780000011903640000016039420000001603942000009955520000000079021000001074573000002496000000259025000000148694000001507252000004856510000022810000019801000002208200000481347000009890800000027663000001322000000010180650000000252531700000412925900000Finance lease receiveables31822600000Other financial assets4623000000Non-current tax assets540200000Other non-current tax assets770000000Finance lease receiveables345000000Other financial assets3822600000Other current assets1251300000Other non-current financial liabilities7902100000Other non-current liabilities14869400000Other financial liabilities48134700000Other current liabilities276630000016662100000-898600000255410000006685000000000-1039000000-20430000000100987000006395600000000021000000238010000060700000-73000000000-685100000030258100000288092000000005656000000282436000000100000000000011593000000000000000020410000019981000000610000000082800000000-211930000000049500000000005201900000058879800000001191180000000-18277600000784670000007846700000439790000012244600000Remeasurements of net defined benefit plans-49800000-49800000Remeasurements of net defined benefit plans-49800000-4980000000Item that will be reclassified to profit and loss - currency translation (loss)-65200000-65200000Item that will be reclassified to profit and loss - currency translation (loss)-106900000-10690000000-115000000-156700000AuditedQualified opinionPathak H. D. & Associates LLPtrue2029-01-3179885200000798852000007751800000077518000000-3368900000-3368900000-0.82-0.82412925900000412925900000252531700000252531700000145602100000145602100000Property Plant and equipmentProperty Plant and equipment309130300000309130300000We draw attention to Note no. 7 of the Statement wherein the auditors of Rajasthan Sun Technique Energy Private Limited (RSTEPL) have set out the fact that, RSTEPL has incurred net loss Rs.72,850 lakhs during the year ended March 31, 2026, as well as during the preceding financial years and has negative net worth as on March 31, 2026 of Rs. 2,61,010 lakhs. Further, as on March 31, 2026 current liabilities exceeded its current assets by Rs. 2,33,688 lakhs. RSTEPL also has defaulted in repayment of borrowings aggregating to Rs. 2,11,309 lakhs. These conditions and events, indicate the existence of material uncertainty that may cast significant doubt about RSTEPLs ability to continue as a going concern. The appropriateness of assumption of going concern is critically dependent upon the RSTEPLs ability to raise finance and generate cash flows in future to meet its obligations. However, the financials statements of RSTEPL have been prepared on a going concern for the factors stated in the aforesaid note. In the absence of necessary evidence with respect to management assessment of going concern, we are unable to obtain adequate evidence regarding managements use of the going concern assumption in the preparation of the financial statements of RSTEPL.Qualified opinionWhether appeared first timeNot ApplicableNot determinableRSTEPL has incurred continuous losses due to the failure of the technology implemented for the project, which has not delivered the desired results despite multiple improvement measures undertaken. Consequently, RSTEPL has defaulted in repayment dues to its lenders during the year ended March 31, 2026, as well as in earlier years. Further, on July 26, 2022, Ld. Appellate Tribunal for Electricity (APTEL) allowed appeal filed by RSTEPL granting compensation to RSTEPL towards reduction in solar radiation and steep Foreign Exchange Rate Variation. Procurers have challenged the said APTEL order in Honble Supreme Court which stayed the implementation of APTEL order and is currently pending adjudication. Further, the management is pursuing various measures for improvement in operational performance and resolution of lender dues. The management is also in advanced discussions with lenders to achieve a resolution of the outstanding debt defaults. In view of the above, the accounts of RSTEPL have been prepared on a going concern basis. Notwithstanding the foregoing, the Parent Company remains unaffected by RSTEPL's defaults. The auditors of RSTEPL have drawn qualification in their audit report.Refer note above for Audit Qualification(s) where the impact is not quantified by the auditor.We draw attention to Note no. 8 of the Statement wherein the auditors of Samalkot Power Limited (SMPL) have set out the fact that, SMPL has incurred net loss Rs..8,933 lakhs during the year ended March 31, 2026, as well as during the preceding financial years and has negative net worth as on March 31, 2026 of Rs. 2,83,195 lakhs. Further, as on March 31, 2026 current liabilities exceeded its current assets by Rs. 4,54,217 lakhs. SMPL also has defaulted in repayment of borrowings aggregating to Rs. 1,81,994 lakhs. Further, lender of SMPL has invoked corporate guarantee against the Parent Company and filed an application under section 7 of Insolvency and Bankruptcy Code, 2016. These conditions and events, indicate the existence of material uncertainty that may cast significant doubt about SMPLs ability to continue as a going concern. However, the financials statements of SMPL have been prepared on a going concern for the factors stated in the aforesaid note. In the absence of necessary evidence with respect to management assessment of going concern, we are unable to obtain adequate evidence regarding managements use of the going concern assumption in the preparation of the financial statements of SMPL.Qualified opinionWhether appeared first timeNot ApplicableNot determinableSMPL has incurred losses during the year as well as earlier years and its current liabilities exceeds its current assets. The lender of SMPL raised a demand amounting to Rs. 1,81,994 lakhs (including interest), towards outstanding principal, invoking the guarantee agreement executed by the Parent Company. Subsequently, SMPL has initiated arbitration proceedings against the lender and Citibank N.A. (facility agent) before the London Court of International Arbitration, in accordance with the terms of the Amended and Restated Credit Agreement dated June 28, 2019, read with the marketing agreements executed among, inter alia, the lender, SMPL, and the marketing consultants. The arbitration has been initiated on the ground that no debt was due under the aforesaid agreements. In light of the above, the Parent Company has communicated to the lender and the facility agent that, since the debt has not fallen due and there is no default, the guarantee provided by the Parent Company cannot be invoked. The arbitration proceeding is ongoing as on March 31, 2026 and currently matter is sub judice. Subsequent to the quarter ended March 31, 2026, the lender has initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Parent Company and the management is currently evaluating the appropriate legal course of action. Further, SMPL has discharged all interest obligations up to June 30, 2025, and the interest for the period July 2025 to March 31, 2026 has been appropriately provided in the books of account. SMPL has also received a binding offer from AM Green Energies B.V. for purchase of project equipment relating to the 1500 MW (2 x 750 MW) Combined Cycle Power Plant (Module 2 and Module 3). Discussions for finalization of the Equipment Sale Agreement (ESA) and Letter of Credit are in progress, subject to requisite approvals from the Board of Directors and lenders. Upon consummation of the proposed asset monetization transaction and receipt of requisite approvals, the management expects the outstanding lender obligations/defaults to be completely addressed. The management has considered the ongoing arbitration proceedings, proposed monetization of assets and ongoing discussions with lenders while assessing the appropriateness of the going concern assumption. Accordingly, the management believes that, it will be able to realize its assets and discharge its liabilities in the normal course of business and therefore the financial statements continue to be prepared on a going concern basis.Refer note above for Audit Qualification(s) where the impact is not quantified by the auditor.We draw attention to Note no. 9 of the statement wherein the auditors of Dhursar Solar Power Private Limited (DSPL) have set out the fact that, the carrying value of Property, Plant and Equipment as on March 31, 2026 is Rs. 32,500 lakhs representing 38% of the total assets of DSPL. The management of DSPL have carried out the impairment assessment of PPE from the registered valuer wherein the valuer has stated the recoverable amount is more than the carrying amount as on March 31, 2026. However, we are unable to obtain sufficient appropriate audit evidence regarding the assumptions and estimates used in the valuation report, including projected revenue, growth assumptions and weighted average cost of capital applied for determining the recoverable amount of the aforesaid assets. Consequently, we are unable to determine whether any adjustment is necessary to the carrying value of these assets and the impact on the financial statements on DSPL. <br></br> <br></br> We draw attention to Note no. 9 of the statement wherein, the auditors of Dhursar Solar Power Private Limited have stated that DSPL has outstanding advance recoverable of Rs. 2,034 lakhs, trade receivable of Rs. 15,801 lakhs, Inter Corporate Deposit (ICD) of Rs. 4,035 lakhs, interest accrued on ICD is Rs.2,867 lakhs and other receivable of Rs. 2,527 lakhs as at March 31, 2026 aggregating to Rs.27,264 lakhs from Reliance Infrastructure Limited. DSPL has not preformed expected credit loss and recoverability assessment over these receivables as per Ind AS 109 Financial Instrument and Ind AS 36 Impairment of Assets. Accordingly, we are unable to comment whether any adjustment is required in the carrying value of these receivables and consequently impact, if any, on the profit for the year ended March 31, 2026. <br></br> Qualified opinionWhether appeared first timeNot ApplicableNot determinable <br></br> DSPL has carried out an impairment assessment of its Property, Plant and Equipment in accordance with the requirements of Ind AS 36 Impairment of Assets as at March 31, 2026. For the purpose of impairment testing, DSPL obtained an independent valuation report from an external valuer. The valuation was carried out using the Discounted Cash Flow (DCF) method under the Income Approach based on management estimates and assumptions relating to future revenue, operational performance, maintenance expenditure, useful life of assets and weighted average cost of capital (WACC). Based on the said valuation assessment, the recoverable amount/value in use of the assets is higher than the carrying value as at March 31, 2026 and accordingly, management is of the view that no impairment provision is required in the financial statements. Further, the management has assessed the recoverability of receivables, advances and inter corporate deposits outstanding from Reliance Infrastructure Limited (Reliance Infra) based on ongoing discussions, expected future realization and other available information. Reliance Infra is a promoter company of the Parent Company and balance confirmation in respect of the outstanding amounts has also been received from Reliance Infra. Further, DSPL has received recoveries aggregating to Rs. 9,268 lakhs and Rs. 8,868 lakhs during the years ended March 31, 2026 and March 31, 2025, respectively, from Reliance Infra. Based on the aforesaid assessment and recovery trend, the management believes that the outstanding amounts are recoverable and accordingly no additional Expected Credit Loss provision is considered necessary as at March 31, 2026. The auditors of DSPL have drawn qualification in their audit report. <br></br> Refer note above for Audit Qualification(s) where the impact is not quantified by the auditor.Neeraj ParakhNeeraj ParakhAshok RamaswamyPathak H. D. & Associates LLPMumbai2026-05-21