5112082026-01-012026-03-315112082026-03-315112082025-03-315112082025-04-012026-03-315112082026-01-012026-03-31in-capmkt:OtherExpenses1Member5112082026-01-012026-03-31in-capmkt:OtherExpenses2Member5112082026-01-012026-03-31in-capmkt:OtherExpenses3Member5112082026-01-012026-03-31in-capmkt:OtherExpenses4Member5112082026-01-012026-03-31in-capmkt:OtherExpenses5Member5112082026-01-012026-03-31in-capmkt:OtherExpenses6Member5112082025-04-012026-03-31in-capmkt:OtherExpenses1Member5112082025-04-012026-03-31in-capmkt:OtherExpenses2Member5112082025-04-012026-03-31in-capmkt:OtherExpenses3Member5112082025-04-012026-03-31in-capmkt:OtherExpenses4Member5112082025-04-012026-03-31in-capmkt:OtherExpenses5Member5112082025-04-012026-03-31in-capmkt:OtherExpenses6Member5112082026-03-31OtherFinancialAssetsDomain15112082026-03-31OtherNonFinancialAssetsDomain15112082026-03-31OtherNonFinancialLiabilitiesDomain15112082026-03-31OtherNonFinancialLiabilitiesDomain25112082026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15112082026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15112082025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15112082026-01-012026-03-31AuditorDomain15112082026-01-012026-03-31in-capmkt:AuditedMember5112082026-03-31in-capmkt:AuditedMember5112082026-01-012026-03-31in-capmkt:AdjustedMember5112082026-03-31in-capmkt:AdjustedMember5112082026-01-012026-03-31AuditQualification15112082026-01-012026-03-31AuditQualification25112082026-01-012026-03-31AuditQualification35112082026-01-012026-03-31AuditQualification45112082026-01-012026-03-31AuditQualification5iso4217:INRxbrli:pureiso4217:INRxbrli:shares511208IVCNOTLISTEDINE050B01023IL&FS Investment Managers LimitedMain BoardEquity2025-04-012026-03-312026-05-302026-05-29INRLakhsQuarterlyFourth quarterSingle segmentManagement Fees2026-05-3009:40:002026-05-3010:00:00trueCash Flow IndirectStatement on impact of audit qualification2026-01-012026-03-31AuditedConsolidated000000035210500035210500026725000378830000000243480000519000000029001000031487700063953000063953000109560001352900024485000394680000001010003956900019803000593720002217400017395000197170008600062808500020.070.07000.070.07000NOTES : <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 entity for the quarter and year ended March 31, 2026 along-with comparative quarter and year have been reviewed by the Audit Committee at its meeting held on May 30, 2026 and subsequently approved by the Board of Directors of the Company at its meeting held on May 30, 2026 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Consolidated Financial Results have been audited by the Statutory Auditors of the Company <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 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 Holding 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 extended term of existing Funds which were managed/advised by the Holding Company have ended during the year which has resulted in no fee income of the Holding Company and a significant reduction in few of the Group Company’s fee revenue. Management expects that its liquid assets held by the Group as at March 31, 2026 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. And in this regard, the IL&FS Board had 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 audited 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 figures for the three months ended March 31, 2026 & 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 subject to limited review <BR> <BR> (8) The Company has 6 Subsidiaries and 1 Jointly controlled entities as at March 31, 2026 <BR> <BR> (9) 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> (10) Matters related to a Subsidiary Company: <BR> <BR> The Auditors of the Subsidiary Company has qualified for non-compliance with the provisions of the Companies Act, 2013, the views of the Management of the Holding Company are as under : <BR> <BR> (a) The Subsidiary Company has not recognised any provision for penalties or other consequential liabilities, if any, that may arise in connection with non-compliance with the provisions of the Companies Act, 2013 relating to the conduct of Board Meetings, as the Company did not hold any Board Meetings during the period from October 8, 2025 to February 6, 2026 due to the unavailability of Directors. <BR> <BR> (b) The Subsidiary 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> (11) On November 21, 2025, the Government of India notified the provisions of the Labour Codes, which consolidate twenty-nine existing labour laws into a single framework governing employee benefit during and after employment. The Codes, inter alia, introduce a uniform definition of wages and revise certain employee entitlements. <BR> <BR> The Group has evaluated the incremental impact of these changes based on the position presently ascertainable and has disclosed the same in line with the guidance issued by the Institute of Chartered Accountants of India. Accordingly, the Group has recognised an incremental expense of Rs. 77.54 lakhs for the year ended March 31, 2026, towards gratuity obligations, which has been presented as part of employee benefit expenses and represents past service cost. The Group continues to monitor the notification of Central and State rules, as well as any further clarifications issued by the Government, and will recognise any additional accounting implications as and when the rules are notified and become effective <BR> <BR> (12) The Subsidiary Company has written off unbilled revenue aggregating to Rs. 921.02 lakh during the year and the same has been charged to the Statement of Profit and Loss. The Management of the Subsidiary Company has evaluated the recoverability of the remaining Unbilled revenue. <BR> <BR> (13) The Board of Directors, in their meeting held on May 29, 2026, have proposed a final dividend of Rs. 0.70 per equity share amounting to Rs. 2,198.23 Lakhs for FY 2025-26. The proposal is subject to the approval of shareholders at the Annual General Meeting <BR> <BR> (14) Previous year figures are regrouped/reclassified wherever necessary <BR> 2025-04-012026-03-31AuditedConsolidated0000000549080000549080000106238000655318000000910610000192500000004733000005662860008903200008903200025855000162800004213500046897000000978000478750006244000011031500038637000923800062648000-208000628085000212791230000.120.12000.120.12000Not ApplicableNot ApplicableNot ApplicableRent expense4360000Legal and Professional expense189882000Expected Credit loss arising on Receivables-210000Write-off of Unbilled Revenue76387000Net (gain)/loss on sale of non-current Investment0Other Expenses19591000Rent expense16943000Legal and Professional expense308257000Expected Credit loss arising on Receivables-4242000Write-off of Unbilled Revenue92102000Net (gain)/loss on sale of non-current Investment0Other Expenses602400006330900078696400001155760000792000773217000501358000224121600008597300034257000002980000000500007482300019808300024392990006280850001279469000190755400020769900021152530000017860002103360000000002121220000001119240001119240003240460002439299000Other Financial assets501358000Other non-financial assets74823000Employee benefit obligations28303000Other non-financial liabilities83621000Actuarial Gain / (Loss) of the defined benefit plans-3175000-3175000Actuarial Gain / (Loss) of the defined benefit plans2267000226700055000176000Gain / (Loss) on Foreign Currency Translation reserve2303300023033000Gain / (Loss) on Foreign Currency Translation reserve603490006034900000198030006244000000245130000-3776000000-42420000140489000043616000019250009210200063400000000000-242070000-960000009780000234154000323186000-330000-61459000474810000214213000001553730002647620000000194000145000000000000000000000330006449600000-4611600000000000000255338000000-255338000-8724100060349000-268920009020100063309000AuditedQualified opinionKKC & Associates LLPtrue2027-07-3165531800065531800056628600056705400046897000461290000.120.122439299000243929900032404600032404600021152530002114485000Refer below details of qualification as per <br></br> Audit Report dated May 30, 2026 <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 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 No CommentsDetails of Audit Qualifications : <br></br> <br></br> Refer below details of qualification as per Audit Report dated May 30, 2026 <br></br> <br></br> One of the subsidiary companies, Andhra Pradesh Urban Infrastructure Asset Management Limited (APUIAML), is having unbilled revenue balances aggregating to Rs. 1,036.61 lakhs (net of write off of Rs 921.02 Lakhs) as at 31 March 2026, of which Rs. 600.81 Lakhs has remained outstanding for more than one year and remains unbilled as of that date.. In the absence of adequate supporting documentation, completed reconciliations, and sufficient appropriate audit evidence regarding the underlying balances and their recoverability, we are unable to determine whether the carrying value of such unbilled revenue is recoverable. Consequently, we are unable to determine whether any adjustments may be required to the carrying amount of unbilled revenue, the related revenue recognised, and the consequential impact, if any, on the accompanying consolidated financial results. (Also Refer Note 12 of the Consolidated Financial Results). <br></br> Qualified opinionWhether appeared first timeNot ApplicableThe Subsidiary Company has written off unbilled revenue aggregating to Rs. 921.02 lakh during the year and the same has been charged to the Statement of Profit and Loss. The Management of the Subsidiary Company has evaluated the recoverability of the remaining Unbilled revenueNot Applicable <br></br> No CommentsDetails of Audit Qualifications : <br></br> Qualification by Independent auditor in the case of Subsidiary Company: Andhra Pradesh Urban Infrastructure Asset Management Limited (the Company) <br></br> <br></br> The Company has not recognised a provision for penalties and other consequences arising from non-conducting of Board Meetings in compliance with the provisions of the Companies Act, 2013. This has been presented as a contingent liability in the financial statements. Based on our understanding of the applicable provisions and accounting framework, the obligation existed as at the reporting date and may have met the criteria for recognition. Consequently, in our view, other expenses and related liabilities may be understated to the extent of the unrecognised obligationWe also draw attention to Note 10 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 timeThe Subsidiary Company has not recognised any provision for penalties or other consequential liabilities, if any, that may arise in connection with non-compliance with the provisions of the Companies Act, 2013 relating to the conduct of Board Meetings, as the Company did not hold any Board Meetings during the period from October 8, 2025 to February 6, 2026 due to the unavailability of Directors (Amount involved is Rs. 1.32 Lakh disclosed as part of contingent liabilities in consolidated financial statements).Not ApplicableNot ApplicableNo CommentsDetails of Audit Qualifications : <br></br> Qualification by Independent auditor in the case of Subsidiary Company: Andhra Pradesh Urban Infrastructure Asset Management Limited (the Company) <br></br> <br></br> The Company has not recognised a provision for penalties and other consequences arising from the delay in appointment of the Chief Financial Officer, as required under Section 203(1) of the Companies Act, 2013 read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. This has been presented as a contingent liability in the financial statements. Based on our understanding of the applicable provisions and accounting framework, the obligation existed as at the reporting date and may have met the criteria for recognition. Consequently, in our view, other expenses and related liabilities may be understated to the extent of the unrecognised obligation. <br></br> <br></br> We also draw attention to Note 10 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 opinionRepetitiveThe Subsidiary 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. (Amount involved is Rs. 5 Lakh disclosed as part of contingent liabilities in consolidated financial statements).Not ApplicableNot ApplicableNo CommentsDetails of Audit Qualifications : <br></br> Qualification by Independent auditor in the case of Subsidiary Company: Andhra Pradesh Urban Infrastructure Asset Management Limited (the Company) <br></br> <br></br> The Company has not recognised a provision for gratuity in respect of employees who resigned during the financial 2024-2025, which is required under Section 4(1) of the Payment of Gratuity Act, 1972 and Ind AS 19 Employee Benefits. This has been presented as a contingent liability in the financial statements. Based on our understanding of the applicable regulations and standards, the obligation existed as at the reporting date and met the criteria for recognition. Consequently, in our view, employee benefit expenses and related liabilities may be understated to the extent of the unrecognised gratuity obligation. <br></br> Qualified opinionWhether appeared first timeAmount involved is Rs. 1.36 Lakh disclosed as part of contingent liabilities in consolidated financial statements.Not ApplicableNot ApplicableNo CommentsLubna UsmanLubna UsmanMunish Kumar SaraogiBharat JainMumbai2026-05-30