Reliance Power Q1 FY27 Consolidated and Standalone Results

Revenue from Operations: ₹1,95,632 (Q1 FY27) vs ₹1,88,558 (Q1 FY26) vs ₹1,88,726 (Q4 FY26)
Other Income: ₹14,743 (Q1 FY27) vs ₹13,973 (Q1 FY26) vs ₹5,907 (Q4 FY26)
Total Income: ₹2,10,375 (Q1 FY27) vs ₹2,02,531 (Q1 FY26) vs ₹1,94,633 (Q4 FY26)

Profit before exceptional items and tax: ₹11,593 (Q1 FY27) vs ₹7,230 (Q1 FY26) vs (₹4,392) (Q4 FY26)
Exceptional Item (Impairment of PPE): None in Q1 FY27 vs (₹38,160) in Q4 FY26
Profit before tax: ₹11,593 (Q1 FY27) vs ₹7,230 (Q1 FY26) vs (₹42,552) (Q4 FY26)
Total tax expenses: ₹5,122 (Current: ₹2,915, Deferred: ₹2,207)
Profit from continuing operations after tax: ₹6,471
Profit for the quarter: ₹6,471
Other Comprehensive Income: ₹13
Total Comprehensive Income: ₹6,484

Profit before tax: ₹320 (Q1 FY27) vs ₹190 (Q1 FY26) vs ₹741 (Q4 FY26)
Income tax expense: ₹0
Profit for the quarter: ₹320
Other Comprehensive Loss: ₹0 (Q1 FY27) vs (₹1,704) (Q4 FY26)
Total Comprehensive Income: ₹320 (Q1 FY27) vs ₹190 (Q1 FY26) vs (₹963) (Q4 FY26)

Incurred net loss of ₹3,573 lakh during Q1 FY27 and preceding financial years
Negative net worth of ₹2,64,580 lakh as of June 30, 2026
Current liabilities exceed current assets by ₹2,36,240 lakh
Defaulted in repayment of borrowings aggregating ₹2,29,561 lakh
APTEL granted compensation for solar radiation reduction and forex variation, but order stayed by Supreme Court
Management pursuing operational improvements and resolution with lenders
Financial results prepared on going concern basis
Auditors have qualified their review report

Incurred net loss of ₹2,942 lakh during Q1 FY27 and preceding financial years
Negative net worth of ₹2,86,131 lakh as of June 30, 2026
Current liabilities exceed current assets by ₹4,57,163 lakh
Defaulted in repayment of borrowings aggregating ₹1,84,196 lakh
Lender invoked corporate guarantee against Parent Company (Reliance Power)
Lender initiated Corporate Insolvency Resolution Process (CIRP) under Section 7 of IBC against Parent Company
SMPL initiated arbitration in London Court of International Arbitration, which was subsequently withdrawn
Entered Equipment Sale Agreement with AM Green Energies B.V. for sale of project equipment (1,508 MW plant)
Discharged interest obligations up to June 30, 2025; provided for interest from July 2025 to June 2026
Financial results prepared on going concern basis
Auditors have qualified their review report

Carrying value of Property, Plant and Equipment: ₹32,263 lakh (39.47% of total assets)
Management obtained independent valuation using DCF method, concluded no impairment required
Outstanding amounts from Reliance Infrastructure Limited (promoter company):
Advance recoverable: ₹2,034 lakh
Trade receivable: ₹16,120 lakh
Inter Corporate Deposit: ₹4,035 lakh
Interest accrued on ICD: ₹2,972 lakh
Other receivable: ₹2,527 lakh
Total: ₹27,688 lakh
Received recoveries of ₹9,268 lakh (FY26) and ₹8,868 lakh (FY25) from Reliance Infra
Management believes amounts are recoverable, no Expected Credit Loss provision made
Auditors have qualified their review report

Enforcement Directorate (ED) Investigations:

Investigation under Prevention of Money Laundering Act, 2002
ED attached certain assets of the Group
Search operation at Company premises in July 2025
Provisional attachment of assets extended for 365 days by Adjudicating Authority
Post-quarter, ED attached receivables from Sasan Power Limited and receivables in Reliance CleanGen Limited from Parent Company
Company contesting attachments through legal channels

Central Bureau of Investigation (CBI) Investigations:

Search and seizure operation at registered office of Parent Company and Reliance CleanGen Limited
Investigation related to transactions involving Reliance Commercial Finance Limited and Reliance Home Finance Limited
Conducted during quarter and subsequent to quarter ended June 30, 2026

Other Legal Matters:

ED filed Supplementary Prosecution Complaint against Parent Company, Rosa Power Supply Company Limited, Reliance NU BESS Limited and certain individuals for fake bank guarantee submitted to SECI
Economic Offence Wing (EOW), Delhi filed chargesheet for same matter
Former Executive Director and CFO arrested under PMLA and Bharatiya Nyaya Sanhita, 2023
SEBI appointed forensic auditor for alleged violations of securities laws - audit ongoing

Represent Chitrangi Power Project, MEGL Shahapur Power Project, Wind Project and Dadri Project
Amounts are below rounding off norms

Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Limited entered Share Purchase Agreement with Biotruster (Singapore) Pte. Limited
Sale of entire stake in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi and PT Sriwijaya Bintang Tiga Energi
Transaction completion contingent on conditions precedent
Assets not classified as held for sale as sale not "highly probable" per Ind AS 105

Pathak H.D. & Associates LLP issued limited review reports with multiple qualifications:

Unable to obtain evidence regarding going concern assessment for RSTEPL and SMPL
Unable to obtain sufficient evidence regarding impairment assessment assumptions for DSPPL
Unable to comment on Expected Credit Loss assessment for DSPPL's receivables from Reliance Infra
Noted material uncertainties regarding Group's ability to continue as going concern
Noted uncertainty regarding outcome of ED, CBI, and other legal proceedings