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:OtherExpenses4Member5112082025-01-012025-03-31in-capmkt:OtherExpenses5Member5112082024-04-012025-03-31in-capmkt:OtherExpenses1Member5112082024-04-012025-03-31in-capmkt:OtherExpenses2Member5112082024-04-012025-03-31in-capmkt:OtherExpenses3Member5112082024-04-012025-03-31in-capmkt:OtherExpenses4Member5112082024-04-012025-03-31in-capmkt:OtherExpenses5Member5112082025-01-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082024-04-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082025-01-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15112082024-04-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15112082025-01-012025-03-31AuditorDomain15112082025-01-012025-03-31in-capmkt:AuditedMember5112082025-03-31in-capmkt:AuditedMember5112082025-01-012025-03-31in-capmkt:AdjustedMember5112082025-03-31in-capmkt:AdjustedMember5112082025-01-012025-03-31AuditQualification15112082025-01-012025-03-31AuditQualification2iso4217:INRxbrli:pureiso4217:INRxbrli:shares511208IVCNOTLISTEDINE050B01023IL&FS Investment Managers LimitedMain BoardEquity2024-04-012025-03-312025-07-182025-07-11INRLakhsQuarterlyFourth quarterSingle segmentManagement Fees2025-07-1815:30:002025-07-1817:30:00trueCash Flow IndirectStatement on impact of audit qualification2025-01-012025-03-31AuditedConsolidated000000075759000757590007454100015030000000023581000054700000003975600063884000864160000864160002256000-42521000-4026500012668100000081000126762000954300002221920001227810003981000218113000407900062808500020.390.39000.390.39000NOTES : <BR> <BR> (1) The aforesaid consolidated financial results of IL&FS Investment Managers Limited (the “Holding Company”), its subsidiaries (the Holding Company and its subsidiaries together constitute the “Group”) and jointly controlled entities 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 July 18, 2025 and subsequently approved by the Board of Directors of the Company at its meeting held on July 18, 2025 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 <BR> <BR> (2) The consolidated 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> (3) 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 <BR> <BR> (4) 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 Company has received the “Summary of Charges” sent by the Ministry of Corporate Affairs through IL&FS, based on which the required action has been completed <BR> <BR> (5) The term of most of the existing funds being managed/advised by the Group has already been over. Other funds being managed/advised by the Group are approaching end of their term in near future which has resulted in significant reduction in the Group’s fee revenue. Management expects that its future income from existing funds being managed/advised together with liquid assets held by the Group as at March 31, 2025 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 preparation of these consolidated 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> (6) 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 (‘IAML’) and IIML Asset Advisors Limited (‘IAAL’) with the Holding 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 Holding Company stand dissolved without winding up <BR> <BR> (7) The figures for the three months ended March 31, 2025 & March 31, 2024 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 subject to limited review <BR> <BR> (8) Matters related to a Subsidiary Company (“Andhra Pradesh Urban Infrastructure Asset Management Limited”) (“The Company”) : <BR> <BR> The Auditors of the Company has qualified for non-compliance with the provisions of the Companies Act, 2013, the views of Management of the Holding Company are as under : <BR> <BR> (a) The Company has obtained the ISIN and 51% of the total paid up share capital is held in dematerialized form and the rest of shareholder are holding share in physical form. The Company has since approached them to dematerialize their shareholding. <BR> <BR> b) The Company has not appointed Independent Director as prescribed under Section 149(4) read with Section 149(6) and Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 as it is an IL& FS group entity which has waiver from NCLT vide order dated April 26, 2019 from appointment of Independent Directors. <BR> <BR> c) The Company has appointed Chief Executive Officer on August 2, 2024 on deputation which is in Compliance of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. <BR> <BR> The Company has appointed Chief Financial Officer on June 9, 2025, though the position was vacant as on March 31, 2025, which was in contravention of Section 203(1) read with Rule 8 of the <BR> Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 <BR> <BR> (9) The Final meeting of IIML Fund Managers (Singapore) Pte Ltd which is in Member’s Voluntary Liquidation was held on August 6, 2024 and the necessary filings have been completed with the Accounting and Corporate Regulatory Authority, Singapore (ACRA). ACRA has approved the liquidation on November 7, 2024 <BR> <BR> (10) The Final meeting of Standard Chartered IL&FS Management (Singapore) Pte Ltd was held on September 27, 2024 and the necessary filings for striking off the entity have been completed with the Accounting and Corporate Regulatory Authority, Singapore (ACRA). ACRA has approved the liquidation on February 20, 2025 <BR> <BR> (11) The Company has 6 Subsidiaries and 1 Jointly controlled entities as at March 31, 2025 <BR> <BR> (12) The financial statements 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 <BR> <BR> (13) Previous year numbers are regrouped/reclassified wherever necessary <BR> 2024-04-012025-03-31AuditedConsolidated0000000290757000290757000175640000466397000000109482000024750000000209234000321191000145206000014520600028558000-24664000389400014131200000011250001424370001158620002582990001314640001097300024712500011174000628085000214231350000.420.42000.420.42000Not ApplicableNot ApplicableNot Applicable <BR> Rent expense4376000Legal and Professional expense43023000Expected Credit loss arising on Receivables-25864000Net (gain)/loss on sale of non-current Investment0Other Expenses18221000Rent expense15418000Legal and Professional expense144387000Expected Credit loss arising on Receivables-28575000Net (gain)/loss on sale of non-current Investment19838000Other Expenses58166000902010001270207000013584700009270005041400002067500002208072000063139000507140000038720000001200006756800018541300023934850006280850001423135000205122000020905900022602790000179900062716000000000064515000021964000046727000686910001332060002393485000Actuarial Gain/(loss) of the defined benefit plans-713000-713000Actuarial Gain/(loss) of the defined benefit plans192000192000-96514000-105726000Gain/(Loss) on Foreign currency translation reserve-447000-447000Gain/(Loss) on Foreign currency translation reserve1196800011968000-7600020240009543000011586200000958670000-627950000-47471000-78380000-1996200000-4127500024750000-88715000-28575000000000-553090000-22901000011250000-275374000-130168000-150000-7107400041926000154215000-88968000001675500000000057600017680000000000000000000015000771860000-4904200019451700000000000000219823000000-219823000-11427400011969000-10230500019250600090201000AuditedQualified opinionKKC & Associates LLPtrue2027-07-314663970004663970003211910003211910001452060001452060000.420.422393485000239348500013320600013320600022602790002260279000Refer below details of qualification as per <br></br> Audit Report dated July 18, 2025 <br></br> <br></br> Attention is drawn to Note 4 of the Consolidated Financial Results which describes the situation faced by the Group 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 Ultimate Holding Company), and its subsidiaries (including the Group). 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 Group, we are unable to comment on the consequential impact(s) upon conclusion of the said investigationQualified 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 CommentsQualification by component auditor in Subsidiary Company: Andhra Pradesh Urban Infrastructure Asset Management Limited (the Company) <br></br> <br></br> The Company has not complied with the following provisions of the Companies Act, 2013: <br></br> <br></br> Pending Conversion of certain physical share certificates into dematerialised form, as required under Section 29(1A) read with Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014; <br></br> <br></br> Non-appointment of a Chief Executive Officer and Chief Financial Officer following the resignation of incumbents, in contravention of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. <br></br> <br></br> We also draw attention to Note 9 of the Consolidated Financial Results, wherein the management of the Holding Company has detailed its assessment in respect of the matters referred above. <br></br> Qualified opinionWhether appeared first timeNot applicable Unable to estimate impactMatters related to a Subsidiary Company (Andhra Pradesh Urban Infrastructure Asset Management Limited) (The Company) : <br></br> <br></br> The Auditors of the Company has qualified for non-compliance with the provisions of the Companies Act, 2013, the views of Management of the Holding Company are as under : <br></br> <br></br> a) The Company has obtained the ISIN and 51% of the total paid up share capital is held in dematerialized form and the rest of shareholder are holding share in physical form. The Company has since approached them to dematerialize their shareholding. <br></br> <br></br> b) The Company has not appointed Independent Director as prescribed under Section 149(4) read with Section 149(6) and Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 as it is an IL& FS group entity which has waiver from NCLT vide order dated April 26, 2019 from appointment of Independent Directors. <br></br> <br></br> c) The Company has appointed Chief Executive Officer on August 2, 2024 on deputation which is in Compliance of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. <br></br> <br></br> The Company has appointed Chief Financial Officer on June 9, 2025, though the position was vacant as on March 31, 2025, which was in contravention of Section 203(1) read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 <br></br> No CommentsLubna UsmanLubna UsmanMunish Kumar SaraogiBharat JainMumbai2025-07-18