Summary of Key Information:

Reporting Period: Quarter Ended June 30, 2026 (Q1 FY27)

Nature of Filing / Announcement: Submission of Unaudited Financial Results with Limited Review Report

Audit Opinion:

Clean opinion with Emphasis of Matter on redeemable preference shares

Key Financial Highlights [₹ crore]:

Consolidated Results:

Revenue from Operations: ₹798.55 (Q1 FY27) vs ₹821.96 (Q1 FY26) vs ₹787.69 (Q4 FY26)

Other Income: ₹67.88 (Q1 FY27) vs ₹98.93 (Q1 FY26) vs ₹67.42 (Q4 FY26)

Total Income: ₹866.43 (Q1 FY27) vs ₹920.89 (Q1 FY26) vs ₹855.11 (Q4 FY26)

Expenses Breakdown:

  • Cost of fuel, power and water consumed: ₹611.07
  • Employee benefits expense: ₹18.79
  • Finance costs: ₹85.03 (significant decrease from ₹148.18 in Q1 FY26)
  • Depreciation and amortisation expense: ₹61.07
  • Other expenses: ₹43.72

Total Expenses: ₹820.58

Profit before tax: ₹45.85 (Q1 FY27) vs ₹(13.11) (Q1 FY26) vs ₹42.84 (Q4 FY26)

Tax expenses: Nil

Net Profit for the period: ₹45.85 (Q1 FY27) vs ₹(13.11) (Q1 FY26)

EPS:

  • Basic: ₹0.09
  • Diluted: ₹0.09

Paid-up equity share capital: ₹5,370.11 crore (Face Value ₹10 per equity share)

Other equity: ₹(732.40) crore

Standalone Results:

Revenue from Operations: Not separately specified in standalone table

Total Income: ₹875.58

Profit before tax: ₹44.36

Net Profit for the period: ₹44.36

EPS: ₹0.08 (Basic and Diluted)

Segment-wise Performance:

The Group has only one reportable segment - 'power generation and allied activities'. All operations are domiciled in India with all non-current assets located in India. The Group derives revenue from a single external customer.

Corporate Actions:

No dividend declarations, share splits, bonus issues, buybacks, or capital raising activities announced.

Redeemable Preference Shares (RPS):

  • ₹250 crore RPS issued to lenders in December 2019 under OTS scheme
  • Due for redemption on December 27, 2021 but not redeemed due to limitations under section 55(2) of Companies Act
  • Liability presented under 'current financial liabilities'
  • Ongoing discussions with RPS holders for settlement options

Legal Proceedings:

1. RPS holder filed Section 7 IBC application against company (disposed in company's favor by NCLT on September 17, 2025)

2. Same RPS holder filed against subsidiary PPDL (dismissed by NCLT on November 7, 2025)

3. Appeal pending before NCLAT against PPDL dismissal

3. BHEL Arbitration:

  • ₹115 crore interim award against company (July 27, 2017)
  • Company's petition under Section 34 dismissed by Delhi High Court (March 6, 2025)
  • Appeal filed under Section 37 before Division Bench (April 5, 2025)
  • Asset attachment allowed subject to prior charges (August 8, 2023)

4. Change in Law Claims:

  • MSEDCL directed to pay 50% of outstanding claim amount (Supreme Court interim order February 14, 2022)
  • MSEDCL civil appeal dismissed (March 27, 2023)
  • ₹876.84 crore received till date, balance payment in process

5. Bank Guarantee Matter:

  • ₹54.96 crore bank guarantee invocation by WCL & MCL
  • Stay granted by Delhi High Court, no coercive action allowed

Other Significant Information:

  • The figures for quarter ended March 31, 2026 represent balancing figures between audited annual figures and published YTD figures
  • Revenue from Change in Law events and interest income accounted based on management's estimates and interpretation of regulatory orders
  • Management believes all legal matters are strongly positioned in company's favor