Key Financial Figures - Standalone (₹ lakhs)

  • Revenue from operations: ₹58.88
  • Other income: ₹130.00
  • Total income: ₹621.88
  • Total expenses: ₹298.62
  • Loss before tax: (₹236.34)
  • Tax expense: ₹1.74 (deferred tax)
  • Net loss for quarter: (₹233.08)
  • Other comprehensive income: ₹0.00
  • Total comprehensive income: (₹233.08)
  • Paid-up equity capital: ₹4,750.00 (face value ₹10 per share)
  • Basic EPS: (₹0.50)
  • Diluted EPS: (₹0.50)

Key Financial Figures - Consolidated (₹ lakhs)

  • Revenue from operations: ₹416.60
  • Other income: ₹42.10
  • Total income: ₹458.70
  • Total expenses: ₹948.59
  • Loss before tax: (₹1,055.62)
  • Tax expense: ₹319.88
  • Net loss for quarter: (₹1,375.50)
  • Other comprehensive income: ₹21.78
  • Total comprehensive income: (₹1,353.72)
  • Paid-up equity capital: ₹4,750.00
  • Basic EPS: (₹2.90)
  • Diluted EPS: (₹2.90)

Operational Highlights

  • Electricity generation: 1.86 million units (Q1 FY27) vs 7.63 million units (Q1 FY26)
  • Sale value: ₹61.00 lakhs (Q1 FY27) vs ₹302.31 lakhs (Q1 FY26)
  • Seasonal nature of electricity generation business noted

Auditors' Adverse Qualifications

The statutory auditors (Alps & Co.) issued a modified review report with adverse conclusions due to:

1. Loans to subsidiaries: ₹2,929.08 lakhs outstanding to two wholly-owned subsidiaries without determined repayment terms or recoverable amount

2. Investment impairment: ₹5,600.00 lakhs investments in two wholly-owned subsidiaries not impaired despite complete erosion of net worth

3. Doubtful receivables:

  • Trade receivables: ₹198.24 lakhs outstanding for considerable period
  • Loan & interest: ₹313.50 lakhs + ₹2.28 lakhs interest doubtful of recovery
  • Security deposits: ₹32.00 lakhs outstanding for considerable period

4. Director remuneration: ₹40.20 lakhs paid to a director shown as recoverable

5. Balance confirmations: Various debit/credit balances including loans, advances, creditors not reconciled

6. Income tax demands:

  • Principal demand: ₹18,939.44 lakhs (AY 2011-12 to 2020-21)
  • Interest & penalty: ₹24,047.65 lakhs (up to 31 March 2026)
  • Matter pending before Income Tax Appellate Tribunal, New Delhi
  • ₹1,235.02 lakhs deposited earlier (including ₹153.30 lakhs recovered from bank accounts)

Consolidated Financials Issues

  • Two subsidiaries (Eastern Ramganga Valley Hydel Projects, Sarju Valley Hydel Projects) and one associate (Arunachal Hydro Power) not consolidated due to unavailability of financial information
  • Financial statements for these entities unavailable since March 2022
  • Additional tax demands on subsidiaries: ₹4,285.09 lakhs (EDCL Power Projects) and ₹59.10 lakhs (Ayyappa Hydro Power)
  • Unprovided interest of ₹826.05 lakhs on loan of ₹2,000.00 lakhs (₹1,665.00 outstanding) taken by subsidiary

Board Meeting Details

  • Date: 10 August 2026
  • Time: 1:30 PM to 5:30 PM
  • Results signed by Mr. Satyendra Pal Singh, Whole-time Director (DIN: 01055370)

Financial Impact Assessment

The auditors concluded that the financial results "have not been prepared fairly in all material respects" due to the significance of the unresolved matters, with overall impact likely to be material but not ascertainable.