Financial Results for Quarter Ended June 30, 2026
Consolidated Financial Results (₹ in Lakhs):
- Total Revenue: ₹843.58 lakhs (vs. ₹526.78 lakhs previous quarter, ₹1,155.15 lakhs year-ago quarter)
- Profit Before Tax: ₹179.49 lakhs (vs. loss of ₹593.08 lakhs previous quarter, ₹251.88 lakhs year-ago)
- Profit After Minority Interest: ₹199.38 lakhs (vs. loss of ₹745.90 lakhs previous quarter, ₹229.45 lakhs year-ago)
- Basic EPS: ₹0.13 (vs. -₹0.47 previous quarter, ₹0.20 year-ago)
- Paid-up Equity Share Capital: ₹16,100.22 lakhs
Standalone Financial Results (₹ in Lakhs):
- Total Revenue: ₹695.05 lakhs (vs. ₹545.44 lakhs previous quarter, ₹940.88 lakhs year-ago)
- Profit Before Tax: ₹166.09 lakhs (vs. loss of ₹434.23 lakhs previous quarter, ₹186.30 lakhs year-ago)
- Profit for the Period: ₹156.57 lakhs (vs. loss of ₹630.49 lakhs previous quarter, ₹192.11 lakhs year-ago)
- Basic EPS: ₹0.10 (vs. -₹0.39 previous quarter, ₹0.15 year-ago)
- Paid-up Equity Share Capital: ₹16,100.22 lakhs
Annual General Meeting Details
- 31st Annual General Meeting scheduled for Friday, September 25, 2026
- Meeting to be held through Video Conferencing (VC) or Other Audio-Visual Means (OAVM)
- Register of members closed from September 19, 2026 to September 25, 2026 (both days inclusive)
- Record date for AGM: Friday, September 18, 2026
Director Appointments
- Re-appointment of Ms. Sangeetha Harilal Lakhi (DIN: 00074571) as Independent Director for 5 years from August 8, 2027
- Re-appointment of Mr. N.K. Haribabu (DIN: 06422543) as Whole-Time Director for 3 years from June 7, 2027
- Both appointments subject to shareholder approval at the 31st AGM
- Confirmed that neither director is debarred from holding office
Auditor's Qualified Review Report
Statutory auditors Venkatesh & Co issued qualified review reports for both standalone and consolidated financial results citing:
1. Suzlon Group Arbitration Claim: ₹9,083.39 lakhs claim filed, with ₹1,494.36 lakhs accounted as advance without adequate audit evidence and ₹845.59 lakhs recognized as compensation receivable without counterparty confirmation. Proper accounting would reduce reserves and surplus by ₹2,339.95 lakhs.
2. Bank of Baroda Legal Claim: ₹102 lakhs recognized as recoverable based on legal claim pending since 2007 before Bombay High Court, without confirmation or sufficient audit evidence.
3. Goodwill Impairment: Goodwill of ₹7,454.69 lakhs transferred from Ind Eco Ventures Limited merger not impairment tested as required under Ind AS.
4. Subsidiary Review: Interim financial information of Indowind Power Private Limited (subsidiary) not reviewed/audited, contributing revenue of ₹158.08 lakhs and net profit of ₹22.95 lakhs.
Additional Information
- Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
- Results reviewed by Audit Committee and approved by Board of Directors
- Previous period figures regrouped/reclassified for comparability
- Shortfall in income attributed to delayed onset of wind season
- Segment details not applicable as only one segment exists