Jaiprakash Power Ventures Limited has announced the approval of its unaudited financial results for the quarter and half-year ended September 30, 2026. The company also disclosed key management changes, including the appointment of Mr. Jigar Dalal as Chief Financial Officer and Mr. Paresh Patel as Company Secretary and Compliance Officer, both effective from November 1 and December 1, 2026, respectively. These developments reflect ongoing corporate governance and operational planning.
Financial Results and Board Approvals
At a board meeting held on October 19, 2026, Jaiprakash Power Ventures Limited approved its unaudited financial results for both standalone and consolidated operations. These results cover the quarter and the half-year period ending September 30, 2026. The company has submitted these results along with the Limited Review Report of its statutory auditors and has also uploaded them on its official website.
Key Management Appointments
The Nomination and Remuneration Committee’s recommendations were also approved by the Board, leading to several significant appointments:
- Mr. Ravi Kapoor (DIN: 00003847) has been appointed as an Independent Director for an initial term of three consecutive years, effective October 19, 2026, subject to shareholder approval.
- Mr. Jigar Dalal has been appointed as the Chief Financial Officer (Key Managerial Personnel), effective November 1, 2026.
- Mr. Paresh Patel has been appointed as the Company Secretary and Compliance Officer (Key Managerial Personnel), effective December 1, 2026.
Details pertaining to these appointments, as required under SEBI Listing Regulations, are provided in Annexure “A”. The meeting commenced at 4:30 p.m. and concluded at 5:35 p.m. on the same day.
Auditor’s Review and Qualified Conclusion
The independent auditor’s report highlights several matters. A qualified conclusion is noted regarding non-provisioning against a recompense claim amount of ₹5,69,651 lakhs by lenders, where the company has challenged the demand and believes no amount is currently payable. Additionally, the report draws attention to show cause and demand notices from District Mining Offices concerning alleged illegal sand mining, amounting to approximately ₹8,57,342 lakhs and ₹3,47,887 lakhs respectively. The company disputes these allegations and has obtained an interim stay from the Andhra Pradesh High Court. The auditor’s conclusion is not modified in respect of these matters, indicating management’s belief in a creditable case and no material impact on the company’s affairs.
Other Significant Disclosures
The financial results also address a settlement offer made to NARCL for a claim related to a Corporate Guarantee, resulting in an exceptional item provision of ₹511.00 crores. Furthermore, a matter concerning income tax and secondary energy charges for FY 2007-08 to 2019-20 and 2014-15 to 2019-20 has been appealed before the Appellate Tribunal for Electricity (APTEL).
The company has also opted for a new tax regime from FY 2026-27 onwards, leading to the reinstatement of MAT credit entitlement of ₹140.78 crores and a deferred tax liability adjustment. The surrender of Amelia (North) and Bandha North Coal Mines, due to financial and operational unviability, has resulted in an exceptional item amounting to ₹193.63 Crores for the half-year ended September 30, 2026.
Source: BSE
