Summary of Key Information:
Reporting Period: Quarter Ended June 30, 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results
Audit Opinion:
Disclaimer of Opinion - Auditors were unable to obtain sufficient appropriate evidence to provide a conclusion on the financial results due to multiple material uncertainties.
Key Financial Highlights [₹ crore]:
Consolidated Results:
Revenue from Operations: ₹7,791.25 crore (Q1 FY26: ₹6,628.71 crore)
Total Income: ₹7,791.25 crore (Q1 FY26: ₹6,628.71 crore)
EBITDA: Not specifically disclosed
Net Profit: ₹767.79 crore (Q1 FY26: ₹305.45 crore)
EPS: ₹9.10 basic, ₹9.08 diluted (Q1 FY26: ₹2.20 basic, ₹2.12 diluted)
Other Equity: ₹17,463.85 crore (as at March 31, 2026)
Cash and Cash Equivalents: Not specified
Debt: Finance Costs of ₹413.24 crore (Q1 FY26: ₹409.15 crore)
Standalone Results:
Revenue from Operations: ₹47.35 crore (Q1 FY26: ₹53.54 crore)
Total Income: ₹72.38 crore (Q1 FY26: ₹103.59 crore)
Net Loss: ₹(51.80) crore (Q1 FY26: Profit of ₹109.03 crore)
Total Comprehensive Loss: ₹(51.80) crore (Q1 FY26: Profit of ₹109.03 crore)
Paid-up Equity Share Capital: ₹408.67 crore
Other Equity: ₹23,429.37 crore (as at March 31, 2026)
Segment-wise Performance [₹ crore]:
Segment Revenue Q1 FY27:
- Power Business: ₹7,334.03 crore
- Engineering and Construction Business: ₹47.35 crore
- Infrastructure Business: ₹278.94 crore
- Others: ₹130.93 crore
Segment Results Q1 FY27:
- Power Business Profit: ₹1,369.19 crore
- Engineering and Construction Business Profit: ₹3.40 crore
- Infrastructure Business Profit: ₹59.69 crore
- Others Profit: ₹11.32 crore
Corporate Actions:
- 11.31 crore warrants lapsed in April 2026 with forfeiture of ₹678.60 crore warrant subscription amount transferred to capital reserve
- 8.43 crore share warrants of Reliance Power Limited lapsed with forfeiture of ₹89.02 crore
- Scheme of Arrangement between Reliance Aerostructure Limited and Reliance Defence Systems Private Limited approved (pending NCLT approval)
Ongoing Investigations:
- Enforcement Directorate (ED): Search operations under PMLA and FEMA, provisional attachment of 37 properties and shareholdings
- Central Bureau of Investigations (CBI): Search operation at registered office on July 18, 2026, chargesheet filed naming company as accused
- SEBI: Two show cause notices for violations of SEBI Regulations
- SFIO: Notice under Section 217 of Companies Act, 2013 for information
- Erstwhile Statutory Auditor filed Form ADT-4 under Section 143(12)
Legal Proceedings:
- CIRP initiated against company (stayed by NCLAT)
- Multiple arbitration proceedings with NHAI across toll road subsidiaries
- ₹15,619.49 crore LPSC disputes with Delhi Discoms
- Supreme Court and APTEL proceedings regarding regulatory assets
Subsidiary Issues:
- Mumbai Metro One Private Limited: Net worth eroded, current liabilities exceed current assets, loss of ₹192.45 crore for quarter, Master Restructuring Agreement executed with NARCL
- Multiple toll road subsidiaries facing termination notices, arbitration, and CIRP proceedings
- Three subsidiaries deconsolidated during quarter resulting in ₹100.56 crore exceptional gain
Other Significant Information:
Going Concern Uncertainties:
The auditors highlighted material uncertainties that may cast significant doubt on the group's ability to continue as a going concern, including:
- JR Toll Road Private Limited: Negative net worth, current liabilities exceed current assets
- PS Toll Road Private Limited: Suspension notice from NHAI, ongoing litigation
- KM Toll Road Private Limited: Terminated concession agreement, admitted into CIRP
- Multiple other subsidiaries with going concern issues noted by their auditors
Exceptional Items:
Consolidated exceptional items of ₹140.56 crore comprising:
- Reversal of impairment provision of ₹40.00 crore
- Net gain on deconsolidation of subsidiaries of ₹100.56 crore
Economic Rights Exposure:
₹4,705.74 crore carrying value of economic rights in Odisha Discoms and unlisted entities with recovery uncertainty