Board Meeting Details
The Board of Directors meeting was held on November 13, 2026, from 5:00 PM to 6:00 PM, where the following matters were approved:
- Unaudited Standalone and Consolidated Financial Results for quarter and half year ended September 30, 2026
- Limited Review Reports issued by Suresh Kumar Mittal & Co., Chartered Accountants
Standalone Financial Performance (Rs. in Lakhs)
Quarter Ended September 30, 2026:
- Total Income: ₹1,076
- Profit Before Tax: ₹914
- Total Tax Expense: ₹264
- Profit for the Period: ₹650
- Basic/Diluted EPS: ₹6.34
Half Year Ended September 30, 2026:
- Total Income: ₹1,873
- Profit Before Tax: ₹1,594
- Total Tax Expense: ₹274
- Profit for the Period: ₹1,317
- Basic/Diluted EPS: ₹12.84
Consolidated Financial Performance (Rs. in Lakhs)
Quarter Ended September 30, 2026:
- Total Income: ₹1,076
- Share of Net Profit/(Loss) of Joint Venture and Associate: ₹(326)
- Profit Before Tax: ₹588
- Total Tax Expense: ₹264
- Profit for the Period: ₹324
- Basic/Diluted EPS: ₹3.15
Half Year Ended September 30, 2026:
- Total Income: ₹1,873
- Share of Net Profit/(Loss) of Joint Venture and Associate: ₹315
- Profit Before Tax: ₹1,906
- Total Tax Expense: ₹274
- Profit for the Period: ₹1,632
- Basic/Diluted EPS: ₹15.91
Key Financial Highlights
Revenue Composition (Standalone H1 FY27):
- Interest Income: ₹27 lakh
- Dividend Income: ₹1,008 lakh
- Net gain on fair value changes: ₹838 lakh
Balance Sheet Position (Standalone as of September 30, 2026):
- Total Assets: ₹1,25,555 lakh
- Investments: ₹1,19,595 lakh
- Borrowings: ₹5,973 lakh
- Equity Share Capital: ₹1,026 lakh
- Other Equity: ₹1,02,640 lakh
Significant Accounting Notes
Note 3(a-d) - Mandakini Coal Company Limited (MCCL) Exposure:
- MCCL (Joint Venture) claimed compensation of ₹24,049 lakh under Coal Mines (Special Provisions) Act 2015
- Nominated Authority passed claim of ₹22,279 lakh (Company entitled to 1/3rd: ₹7,426 lakh)
- Company booked fair valuation loss of ₹1,699 lakh against investment of ₹3,930 lakh in MCCL shares
- Company granted interest-bearing loan of ₹537 lakh to MCCL (interest waived from 2015-16 to H1 FY27)
- Company provided corporate guarantee to IFCI and paid ₹5,132 lakh to discharge obligation
Note 4 - Preference Share Extension:
- Extended tenure of 1,50,00,000 zero percent redeemable preference shares (RPS-Series II) from June 10, 2026 to June 10, 2031
- Extended tenure of 40,00,000 zero percent redeemable preference shares (RPS-Series III) from September 22, 2026 to September 22, 2031
- Booked initial gain of ₹733 lakh on extension representing difference between carrying amount and present value
Note 5 - Fair Valuation Gain:
- Obtained fair valuation of investment in Jindal India Power Ltd from IBBI registered valuer
- Recognized fair valuation gain of ₹1,078 lakh (net of taxes ₹923 lakh) for H1 FY27
Subsequent Events - Voluntary Delisting
Note 6 - Delisting Process:
- Initial Public Announcement dated June 29, 2026 from Concatenate Power Advest Private Limited (Acquirer 1), Concatenate Advest Advisory Private Limited (Acquirer 2) and Jindal India Power Limited (Person Acting in Concert)
- Board approved voluntary delisting on July 16, 2026
- Shareholders approved via Postal Ballot on August 18, 2026
- Received in-principle approvals from BSE and NSE on October 21, 2026
- Reverse Book Building conducted from November 2-6, 2026
- Discovered price: ₹1,161 per equity share accepted by acquirers
- Consideration paid to eligible public shareholders on November 13, 2026
Auditor's Review
Suresh Kumar Mittal & Co. issued limited review reports with emphasis on:
- Non-provision of doubtful loans from MCCL (Note 3c)
- Non-provision of amount recoverable from MCCL (Note 3d)
- Petitions and claims pending finalization/settlement