5112082025-07-012025-09-305112082025-09-305112082025-03-315112082025-04-012025-09-305112082025-07-012025-09-30in-capmkt:OtherExpenses1Member5112082025-07-012025-09-30in-capmkt:OtherExpenses2Member5112082025-07-012025-09-30in-capmkt:OtherExpenses3Member5112082025-07-012025-09-30in-capmkt:OtherExpenses4Member5112082025-07-012025-09-30in-capmkt:OtherExpenses5Member5112082025-04-012025-09-30in-capmkt:OtherExpenses1Member5112082025-04-012025-09-30in-capmkt:OtherExpenses2Member5112082025-04-012025-09-30in-capmkt:OtherExpenses3Member5112082025-04-012025-09-30in-capmkt:OtherExpenses4Member5112082025-04-012025-09-30in-capmkt:OtherExpenses5Member5112082025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082025-07-012025-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15112082025-04-012025-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15112082025-07-012025-09-30AuditorDomain15112082025-07-012025-09-30in-capmkt:AuditedMember5112082025-09-30in-capmkt:AuditedMember5112082025-07-012025-09-30in-capmkt:AdjustedMember5112082025-09-30in-capmkt:AdjustedMember5112082025-07-012025-09-30AuditQualification15112082025-07-012025-09-30AuditQualification2iso4217:INRxbrli:pureiso4217:INRxbrli:shares511208IVCNOTLISTEDINE050B01023IL&FS Investment Managers LimitedMain BoardEquity2025-04-012026-03-312026-02-132026-02-09INRLakhsQuarterlySecond quarterSingle segmentManagement Fees2026-02-1312:30:002026-02-1320:00:00trueCash Flow IndirectStatement on impact of audit qualification2025-07-012025-09-30UnauditedConsolidated0000000716610007166100038668000110329000000219190000432000000038858000612090004912000004912000055350009179000147140003440600000093900035345000264270006177200026832000851300026427000062808500020.090.09000.090.09000NOTES : <BR> <BR> (1) The aforesaid consolidated financial results of IL&FS Investment Managers Limited (the “Holding Company” or “the Company”), its subsidiaries (the Holding Company and its subsidiaries together constitute the “Group”) and jointly controlled entities for the quarter and half year ended September 30, 2025 along-with comparative period have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on February 13, 2026 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consolidated financial results for the quarter and half year ended September 30, 2025 have been subjected to Limited Review by the Statutory Auditors of the Company <BR> <BR> (2) The consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 – Interim Financial Reporting, notified under Section 133 of the Companies Act 2013 read with Companies (Indian Accounting Standards) Rules 2015, as amended from time to time and other accounting principles generally accepted in India <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 IL&FS or 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 <BR> (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 Ultimate Holding Company has submitted the necessary response <BR> <BR> (5) The terms of most of the existing funds managed or advised by the Holding Company and few of its subsidiaries are approaching the end of their extended terms in the near future. As a result, the Group did not generate significant fee income during the quarter and half year ended September 30, 2025, apart from project revenue from one subsidiary, which was relatively low <BR> <BR> Management expects that the future income from the remaining funds under management and Project revenues, along with the liquid assets held by the Group as of September 30, 2025, will be adequate to meet the Group's current and future obligations over the next 12 months. Based on this expectation, management believes that the use of the going concern assumption in preparing the Group's consolidated financial results remains 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 summarised unaudited standalone financial results of the Holding Company are as below. The detailed standalone financial results of the Holding Company are available on the Holding Company’s website www.iimlindia.com <BR> <BR> (7) The Group has 6 Subsidiaries and 1 Jointly Controlled Entities as at September 30, 2025 <BR> <BR> (8) 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> (9) The Holding Company Management is currently in the process of reviewing and assessing the recoverability of unbilled revenue pertaining to one of the Company’s subsidiaries, Andhra Pradesh Urban Infrastructure Asset Management Limited (“APUIAML”), in consultation with the subsidiary’s management and based on ongoing communications with the concerned parties. Appropriate actions, including recognition of any provision or write-off, if required, will be undertaken by the Subsidiary management upon completion of this assessment at the earliest <BR> <BR> (10) Previous year numbers are regrouped/reclassified wherever necessary <BR> 2025-04-012025-09-30UnauditedConsolidated000000012963500012963500069597000199232000000420590000957000000010276500014578100053451000053451000110420005702000167440003670700000091200037619000267950006441400035645000197400026788000700062808500020.110.11000.110.11000Not applicable as there are not Borrowings in the CompanyNot applicable as there are not Borrowings in the CompanyNot applicable as there are not Borrowings in the CompanyRent expense4126000Legal and Professional expense46484000Expected Credit loss arising on Receivables-34038000Net Loss on sale of non-current Investments8457000Other Expenses13829000Rent expense8522000Legal and Professional expense79992000Expected Credit loss arising on Receivables-19907000Net Loss on sale of non-current Investments8457000Other Expenses257010003155260008030910000107704000086100049937000043437400021609260000703530004501200000257800000084000952700002132970002374223000628085000138724600020153310002110400002226371000183200068469000000000070301000018919000058632000775510001478520002374223000Actuarial Gain of the defined benefit plans-414000-414000Actuarial Gain of the defined benefit plans325000325000-63000-3000Gain/(Loss) on Foreign currency translation reserve (net)2677800026778000Gain/(Loss) on Foreign currency translation reserve (net)264670002646700000264270002679500000480500000000-19070000057860000-304400031440009570000-199070000000000-271160000294000-102500004035000911000-162100003724100000-34026000182520000-150370000016551000000001780009900000000000000113030000000004415100002401330003122170000000000000098321000000-983210001988590002646700022532600090200000315526000UnauditedQualified opinionKKC & Associates LLPtrue2027-07-318571200085712000114085000114085000-28373000-28373000-0.06-0.062374222000237422200014785100014785100022263710002226371000Refer below details of qualification as per <br></br> Audit Report dated February 13, 2026 <br></br> <br></br> Attention is drawn to Note 4 of the Statement which describes the situation faced by the Group in view of <br></br> the ongoing investigation by Serious Fraud Investigation Office of Ministry of Corporate Affairs (SFIO) <br></br> against Infrastructure Leasing & Financial Services Limited (IL&FS or the Ultimate Holding Company), <br></br> and its subsidiaries (including the Group). In view of the aforesaid ongoing investigations of the entire <br></br> IL&FS Group by the SFIO, including the summary of charges received from Ministry of Corporate Affairs in <br></br> October 2024 by the Ultimate Holding Company pertaining to the matters of the Group, we are unable to <br></br> 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 CommentsWe draw attention to Note No. 9 to the Statement regarding unbilled revenue outstanding for more than <br></br> one year in respect of one of the subsidiary companies, Andhra Pradesh Urban Infrastructure Asset <br></br> Management Limited (APURBAN). As reported by the auditors of the said subsidiary, such unbilled <br></br> revenue ought to have been reversed and non-reversal of the same may resulting in overstatement of <br></br> revenue and contract asset balances (Unbilled revenue) in the accompanying Statement. Accordingly, in <br></br> our view, revenue and contract assets (unbilled revenue) are overstated to that extentQualified opinionWhether appeared first timeThe Management of APUIAML is in the process of reviewing the outstanding position of unbilled revenues within the policy framework approved by its BoardNot ascertainableIn the absence of any specific findings as on date, the financial impact if any can only be ascertained on detailed analysis.No CommentsLubna UsmanLubna UsmanMunish Kumar SaraogiBharat JainMumbai2026-02-13