5112082025-01-012025-03-315112082025-03-315112082024-03-315112082024-04-012025-03-315112082025-01-012025-03-31in-capmkt:OtherExpenses1Member5112082025-01-012025-03-31in-capmkt:OtherExpenses2Member5112082025-01-012025-03-31in-capmkt:OtherExpenses3Member5112082025-01-012025-03-31in-capmkt:OtherExpenses4Member5112082024-04-012025-03-31in-capmkt:OtherExpenses1Member5112082024-04-012025-03-31in-capmkt:OtherExpenses2Member5112082024-04-012025-03-31in-capmkt:OtherExpenses3Member5112082024-04-012025-03-31in-capmkt:OtherExpenses4Member5112082025-01-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082024-04-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082025-01-012025-03-31RelatedPartyTransactionDomain15112082024-12-31RelatedPartyTransactionDomain15112082025-03-31RelatedPartyTransactionDomain15112082025-01-012025-03-31RelatedPartyTransactionDomain25112082024-12-31RelatedPartyTransactionDomain25112082025-03-31RelatedPartyTransactionDomain25112082025-01-012025-03-31RelatedPartyTransactionDomain35112082024-12-31RelatedPartyTransactionDomain35112082025-03-31RelatedPartyTransactionDomain35112082025-01-012025-03-31RelatedPartyTransactionDomain45112082024-12-31RelatedPartyTransactionDomain45112082025-03-31RelatedPartyTransactionDomain45112082025-01-012025-03-31RelatedPartyTransactionDomain55112082024-12-31RelatedPartyTransactionDomain55112082025-03-31RelatedPartyTransactionDomain55112082025-01-012025-03-31RelatedPartyTransactionDomain65112082024-12-31RelatedPartyTransactionDomain65112082025-03-31RelatedPartyTransactionDomain65112082025-01-012025-03-31RelatedPartyTransactionDomain75112082024-12-31RelatedPartyTransactionDomain75112082025-03-31RelatedPartyTransactionDomain75112082025-01-012025-03-31RelatedPartyTransactionDomain85112082024-12-31RelatedPartyTransactionDomain85112082025-03-31RelatedPartyTransactionDomain85112082025-01-012025-03-31RelatedPartyTransactionDomain95112082024-12-31RelatedPartyTransactionDomain95112082025-03-31RelatedPartyTransactionDomain95112082025-01-012025-03-31RelatedPartyTransactionDomain105112082024-12-31RelatedPartyTransactionDomain105112082025-03-31RelatedPartyTransactionDomain105112082025-01-012025-03-31RelatedPartyTransactionDomain115112082024-12-31RelatedPartyTransactionDomain115112082025-03-31RelatedPartyTransactionDomain115112082025-01-012025-03-31RelatedPartyTransactionDomain125112082024-12-31RelatedPartyTransactionDomain125112082025-03-31RelatedPartyTransactionDomain125112082025-01-012025-03-31RelatedPartyTransactionDomain135112082024-12-31RelatedPartyTransactionDomain135112082025-03-31RelatedPartyTransactionDomain135112082025-01-012025-03-31RelatedPartyTransactionDomain145112082024-12-31RelatedPartyTransactionDomain145112082025-03-31RelatedPartyTransactionDomain145112082025-01-012025-03-31RelatedPartyTransactionDomain155112082024-12-31RelatedPartyTransactionDomain155112082025-03-31RelatedPartyTransactionDomain155112082025-01-012025-03-31RelatedPartyTransactionDomain165112082024-12-31RelatedPartyTransactionDomain165112082025-03-31RelatedPartyTransactionDomain165112082025-01-012025-03-31RelatedPartyTransactionDomain175112082024-12-31RelatedPartyTransactionDomain175112082025-03-31RelatedPartyTransactionDomain175112082025-01-012025-03-31RelatedPartyTransactionDomain185112082024-12-31RelatedPartyTransactionDomain185112082025-03-31RelatedPartyTransactionDomain185112082025-01-012025-03-31RelatedPartyTransactionDomain195112082024-12-31RelatedPartyTransactionDomain195112082025-03-31RelatedPartyTransactionDomain195112082025-01-012025-03-31AuditorDomain15112082025-01-012025-03-31in-capmkt:AuditedMember5112082025-03-31in-capmkt:AuditedMember5112082025-01-012025-03-31in-capmkt:AdjustedMember5112082025-03-31in-capmkt:AdjustedMember5112082025-01-012025-03-31AuditQualification1iso4217:INRxbrli:pureiso4217:INRxbrli:shares511208IVCNOTLISTEDINE050B01023IL&FS Investment Managers LimitedMain BoardEquity2024-04-012025-03-312025-05-292025-05-29INRLakhsQuarterlyFourth quarterSingle segmentManagement Fees2025-05-2912:30:002025-05-2915:35:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2025-03-31https://www.iimlindia.com/pdfs/Policies/policyondealingwithrelatedpartytransactions.pdffalsefalseThe Company does not have Loans and Debt Securities2025-01-012025-03-31AuditedStandalone000000000310760003107600000011956000010000000090190002098500010091000010091000035750003575000651600000006516000-688000582800062808500020.020.02000.020.02000(1) The financial results have been prepared in accordance with the Indian Accounting Standards (referred to as “Ind AS”) as per the Companies (Indian Accounting Standards) Rules 2015 notified under Section 133 of the Companies Act, 2013 (CA 2013) and other relevant provisions of the CA 2013 as amended from time to time <BR> <BR> (2) The National Company Law Tribunal, Mumbai has passed an Order dated July 26, 2024 approving the Scheme of Amalgamation (“the Scheme”) of its two wholly owned subsidiaries IL&FS Asian Infrastructure Managers Limited and IIML Asset Advisors Limited with the Company, with appointed date as April 1, 2022. Upon completion of the formalities on August 23, 2024 the Scheme has become effective from the Appointed Date i.e. April 1, 2022. Consequently, the above mentioned wholly owned subsidiaries of the Company stand dissolved without winding up <BR> <BR> Since the amalgamated entities are under common control, the accounting of the said amalgamation been done applying Pooling of Interest method as prescribed in Appendix C of Ind AS 103 “Business Combinations”. <BR> While applying Pooling of Interest method, the Company has recorded all assets, liabilities and reserves attributable to the wholly owned subsidiaries at their carrying values as appearing in the consolidated financial statements of the Company. Consequently, the previous year/periods figures have been restated considering that the amalgamation has taken place from the beginning of the preceding period i.e. April 1, 2022 as required under Appendix C of Ind AS 103 <BR> <BR> The financial statements of the amalgamated entities for the year ended March 31, 2024 have been audited on a standalone basis <BR> <BR> (3) The above standalone financial results for the quarter and year ended March 31, 2025 along-with comparative quarter and year have been reviewed by the Audit Committee at its meeting held on May 29, 2025 and subsequently approved by the Board of Directors of the Company at its meeting held on May 29, 2025 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The standalone financial results have been audited by the Statutory Auditors of the Company <BR> <BR> (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 <BR> <BR> (5) 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 <BR> <BR> (6) The term of most of the existing funds being managed/advised by the Company has already been over. Other funds being managed/advised by the company are approaching end of their term in 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 March 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 <BR> <BR> 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. In this regard, the IL&FS Board has 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 <BR> <BR> (7) 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 <BR> “Summary of Charges” sent by the Ministry of Corporate Affairs through IL&FS, based on which the required action has been completed <BR> <BR> (8) The Company has 6 Subsidiaries and 1 Jointly Controlled Entity as at March 31, 2025 <BR> <BR> (9) During the financial year ended March 31, 2025, the Company has recorded a significant decline in Income from Operations primarily due to the completion or impending completion of tenure of most of the funds managed or advised by the Company, resulting in lower management and advisory fees. Further, the Other Income decreased by approximately Rs. 2,216.65 Lakh mainly attributable to the non-receipt of dividend income from its subsidiaries <BR> <BR> (10) The Board of Directors, in their meeting held on May 29, 2025, have proposed a final dividend of Rs. 0.28 per equity share amounting to Rs. 879.29 Lakhs for FY 2024-25. As the profits for the year are inadequate, the dividend will be paid out of accumulated free reserves in accordance with Section 123(1) of the Companies Act 2013 and Rule 3 of the Companies (Declaration and Payment of Dividend) Rules 2014. The proposal is subject to the approval of shareholders at the Annual General Meeting <BR> <BR> (11) The figures for the three months ended March 31, 2025 are the balancing figures between the audited figures with respect to full financial year and the published unaudited year to date figures upto the third quarter of the financial year which were subjected to limited review <BR> <BR> (12) One of the subsidiary of the company namely Andhra Pradesh Urban Infrastructure Asset Management Limited (APUIAML) has not provided Audited Results. Hence, the Consolidated Accounts of the Group could not be adopted. The Company has already made an application to SEBI seeking an extension of 60 days for submission of consolidated financial results. <BR> <BR> (13) Previous year numbers are regrouped/reclassified wherever necessary <BR> 2024-04-012025-03-31AuditedStandalone0000000750000075000008297800090478000000539070000291000000051917000106115000-156370000-15637000-500061390006134000-217710000000-21771000607000-211640006280850002277428000-0.07-0.0700-0.07-0.07000The Company does not have DebtThe Company does not have DebtThe Company does not have DebtRent Expense2672000Legal and Professional expense3021000Net (gain)/loss on sale of non-current Investment0Other Expenses3326000Rent Expense8175000Legal and Professional expense12391000Net (gain)/loss on sale of non-current Investment20107000Other Expenses1124400038436000175040000004770007981550002168000856740000025065000000950000000528380007799800093473800062808500027742800090551300090551300001750000299800000000004748000020260000224510002447700029225000934738000Actuarial Gain/(loss) of the defined benefit plans-919000-919000Actuarial Gain/(loss) of the defined benefit plans811000811000-231000204000-688000607000000000041370000113900000029100000-884460000-225300001500047890000-553090000085688000-27710000-62328000-779650000004740000-7843900000190901000000004960000000000000000000001500078620000019927400000000000000219823000000-219823000-989880000-9898800013742400038436000IL&FS Investment Managers Ltd******IL& FS Private Equity Trust A/c IL & FS Realty Fund******Fellow SubsidiaryAny other transactionReceivable1553000Approved15530002025-05-29155300001660000IL&FS Investment Managers Ltd******IFIN Realty Trust******Fellow SubsidiaryAny other transactionReimbursement of Expenses873000Approved8730002025-05-2987300000IL&FS Investment Managers Ltd******IL&FS Energy Development Company Ltd******Fellow SubsidiaryAny other transactionReceivable0Approved02025-05-2901600016000IL&FS Investment Managers Ltd******Infrastructure Leasing & Financial Services Ltd******Parent CompanyAny other transactionRent359000Approved36590002025-05-2936590000891000IL&FS Investment Managers Ltd******Infrastructure Leasing & Financial Services Ltd******Parent CompanyAny other transactionReimbursement of Repairs and Maintenance10000Approved100002025-05-29100001270000IL&FS Investment Managers Ltd******Infrastructure Leasing & Financial Services Ltd******Parent CompanyAny other transactionReimbursement of Electricity128000Approved1280002025-05-2912800000IL&FS Investment Managers Ltd******Infrastructure Leasing & Financial Services Ltd******Parent CompanyAny other transactionReimbursement of Telephone Expense5000Approved50002025-05-29500000IL&FS Investment Managers Ltd******IL&FS Securities Services Ltd.******Fellow SubsidiaryPurchase of goods or services152000Approved1520002025-05-29152000062000IL&FS Investment Managers Ltd******ILFS IIDC Fund******Fellow SubsidiaryAny other transactionReceivable0Approved02025-05-290756000756000IL&FS Urban Infrastructure Managers Ltd******IL&FS Financial Services Limited******Fellow SubsidiarySale of goods or services1024000Approved10240002025-05-29102400056880005364000IL&FS Urban Infrastructure Managers Ltd******Infrastructure Leasing & Financial Services Ltd******Ultimate Parent CompanyAny other transactionRent Expense580000Approved5800002025-05-295800000101000Andhra Pradesh Urban Infrastructure Asset Management Limited******IL&FS Township Urban Asset Limited******Fellow SubsidiaryAny other transactionTrade Payable0Approved02025-05-29060480006048000Andhra Pradesh Urban Infrastructure Asset Management Limited******Tamil Nadu Water Investment Company Limited******Fellow SubsidiaryAny other transactionTrade Payable0Approved02025-05-29055010001254000IL&FS Infrastructure Asset Management Ltd******IL&FS Financial Services Limited******Fellow SubsidiaryPurchase of goods or services75000Approved750002025-05-297500000IL&FS Infrastructure Asset Management Ltd******Infrastructure Leasing & Financial Services Ltd******Parent CompanyAny other transactionRent Expense1074000Approved10740002025-05-29107400000IL&FS Investment Managers Ltd******Manoj Boarkar******Key Management PersonnelRemuneration3743000Approved37430002025-05-29374300000IL&FS Investment Managers Ltd******Sanjay Mitra******Key Management PersonnelRemuneration2733000Approved27330002025-05-29273300000IL&FS Investment Managers Ltd******Lubna Usman******Key Management PersonnelRemuneration2703000Approved27030002025-05-29270300000IL&FS Investment Managers Ltd******Harish Agrawal******Key Management PersonnelRemuneration516000Approved5160002025-05-295160000018828000AuditedQualified opinionKKC & Associates LLPtrue2027-07-319047800090478000106115000106115000-21771000-21771000-0.07-0.079347380009347380002922500029225000905513000905513000Refer below details of qualification as per <br></br> Audit Report dated May 29, 2025 <br></br> <br></br> Attention is invited to Note 7 of the standalone financial results 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. <br></br> Qualified opinionRepetitiveNot ApplicableUnable to estimate impact 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 completedNo CommentsLubna UsmanLubna UsmanMunish Kumar SaraogiBharat JainMumbai2025-05-29