Interim report
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IFCI LIMITED आई एफ सी आई लिमिटेड ( A Government of India Undertaking ) ( भारत सरकार का उपक्रम ) No. IFCI / CS / 61 / 2026- SS3 August 11 , 2026 No. IFCI / CS / 62 / 2026 - SSY 1.National Stock Exchange of 2. BSE Limited India Limited Exchange Plaza Plot No. C / 1 , G Block , Bandra Kurla Complex , Bandra ( East ) Mumbai 400 051 CODE : IFCI Department of Corporate Service Phiroze JeeJeebhoy Tower Dalai Street Mumbai 400 001 CODE : 500106 Dear Sir / Madam , Re : Outcome of the Board Meeting held on August 11 , 2026 . The Board at its Meeting held on August 11 , 2026 , has inter - alia approved the Un - audited ( Standalone and Consolidated ) financial results of the Company for the quarter ended June 30 , 2026. Pursuant to Regulation 33 of SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , the same are enclosed herewith along with respective Limited Review Reports and other requisite annexures as Enclosure . Meeting of Board Commenced at 01:30 P.M. and concluded at 03:45 P.M. This is for your information and record . Thanking You For IFCI Limited M ( Priyanka Sharma ) Company Secretary & Compliance Officer Encl : As above . आई एफ सी आई लिमिटेड पंजीकृत कार्यालयः IFCI Limited Regd . Office : आईएफसीआई टावर , 61 नेहरू प्लेस , नई दिल्ली - - 110 019 IFCI Tower , 61 Nehru Place , New Delhi - 110 019 : + 91-11-4173 2000 , 4179 2800 : + 91-11-2623 0201 , 2648 8471 desc : www.ifciltd.com f : L74899DL1993GOI053677 1948 से राष्ट्र के विकास में Phone : + 91-4173 2000 , 4179 2800 Fax : + 91-11-2623 0201 , 2648 8471 Website : www.ifciltd.com CIN : L74899DL1993GOI053677 In Development of the Nation since 1948
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IFC7 LTD. CON: L74899DL1993GOI053677 REGD. OFFICE : WO TOWER 61, NEHRU PLACE, NEW DELHI - 110 019 WEBSITE: www.ifciltd.com STAT,Ei‘MT OF NAL3pgED .(STANDALDNE).FINA.PCIAL.: ggsul,Ts..oR pf4g;sa,:4p6.•: Rs. In Crore - : • --paiticulaiS Standalone Results qua .itec endeci 300'12026 (Unaneited) . go.,1-1.or ended 31/03/2.026 - ' (Audited) . . ., . . . : Quzi -lritr ondor! 30002025 : (Unaudited) ' . . : , . Year on:li ,(1 .31/0312026.: : ': !;(AOdited .) .:: 1 Revenue from operations a) Interest Income 83.78 120.87 74.80 341.32 h) Dividend Income 19.83 39.59 0.06 186,00 Rental Income 13.08 15,13 12,12 53,57 d) lees arid commission Income 14,08 35.06 9.89 79.10 e) Net gain on fair value changes (28..13) 54.46 58.64 237.72 Total Revenue from operations 102,64 265.11 155.51 897.71 f) Other Income 22.76 0.40 25 35 26.36 Total income 125.40 265.51 180.66 924,07 2 Expenses a) Finance costs 103.61 101.98 102,61 416.07 b) Foreign exchange lass - c) Impairment on financial instruments (48.30) 1E2.04 16,87 279.28 d) Employ/cc Benefits Expenses 20,87 38,76 16,69 105,43 e) Depreciation and Amortization 6.06 6.27 6.05 24,44 I) Others expenses 17.80 8.67 8.71 52.31 Total expenses 100.04 257.72 150.93 878.53 ProfittSlossIbffore e.xtepticipqatt .:t0, -.(12) 25.36 . . 7,79 , . 0 •: 7 :93 . ,..... , 4:45.54 : Exceptional items 'N-iifiti'.(icisS) .:btifore Ttax, (3 -41 12. 7.5.36::: 7.79:: 11.,-, :H2993 ''' '4554 6 Tax expense a) Income tax - - - b) Taxation for earlier years - - - o) Deferred Tax (Net) 16.72 (13.57) 22.55 (5.17) Total Tax expense. 75(e) to 6(c)1 16.72 (13.57) 22.55 (6.17) rofit -/ (I oSS) far the ,rperiod -(54:6; .' D164- 2136 - - .51.71. Other Comprehensive Income a) Items that will not be reclassified to profit or loss -Fair value changes on FVTOCI - equity securities - - -toss on sale of FVTOCI - equity securities - - -Actuailal tam/Close) on defined benefit obligation (172) L_)0.32 (1,34 (1.87) Income tax relating to items that will not be reclassified to profit or loss -Tax on Fair value changes on FVTOCI - Equity securities - - - -Tax on Actuarial gain/(loss) on Defined benefit obligation . 0.25 0,11 0.55 0,65 Sublotel:( a% ' :•. • "... .....,:: :" ; ...,- = '.7:.(0":•):)....:. •:(1.22) h) Items that will be reclassified to profit or loss -Debt securities measured at FVTOCI - net change in fair value 5.04 (1.13) 0.69 (0.85) -Debt securities measured at FVTOCI - reclassified to profit and oss - - - - Income tax relating to items that will be reclassified to profit or loss -Tax on Fair value changes on FVTOCT - Debt securiliPS 1.76) 0.40 (0.31) 0.30 C (0.56) Other :conn' .r.irebeiisble: inctiris. / (i(oSs):(1.t -cifted.):: e.)7riF4Ei.141..2T'ti'...4094) - - (0.19) total comprehensive incrimokftieSSI(fter fax) '(7,-1B) . 11.45 ' ::...2042.' , :. . 7:70 :::..- -4993 . 0 Paid-up equity share capital (Face Value of k 10/- each) 2,594,31 2,694.31 2,694.31 2,594.31 (908.80 11 Other equity (as per sudited balance sheet as at 31st March) 12 interim Earnings per share (face value of f 10 each) (not annualised for the periods): (a) sasic (6) 0.03 0.08 0.03 0.19 (5) Diluted (f) 0.03 0.08 0.03 0,19 See accompanying notes to the financial results. 0 /lp NIgWebT11 tiV LPG! Towec 61 AIT.e 7 mitt 61, Nehru Piece -19 New Delh1-19 /A Of
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MCI LTD. CIN: E74899DL1993G01053677 REGD. OFFICE : IFCI TOWER 61, NEHRU PLACE, NEW DELI-L1 -110 019 WEBSITE: WWW.ifeiltd.conn. LIMITED Rrlfqc's (nrarzrum, SI -,341FR) STATEMENT OF IINAIIDITED,(CONSOLIDATED) FINANCIAL 'RESULTS FOR IDE 'QUARTER ENDED 30 JUNE 2.1126' (1 In Croix..? PartiCulara .. 7•:::. :: - i Consolidated kesUltsl .Qnarter:•ended -r ' •:, - :4 10.■!06'....2026 ! - (Unaudited) :. . Quarter . ended 3 I:11312026 (Audited) QM0'er ended 30.'06;2025 : (Unaudited i . . .Y:.tar ende.d-: .:: . 31;1.312026 • (Audited) :. • 1 Revenue from operations a) Interest Income 113.28 153.40 104.48 460.35 b) Dividend Income 10,83 3.13 0.06 389,94 c) Rental Incense 12.85 11.31 14.72 50.58 d) Fees and conunission Income 157.95 181.75 148.92 632.16 e) Net gain on fair value changes (26.43) 57.84 58.66 240.13 f) Sale of products (including Excise Duty) 0.11 25.39 0.06 108.24 Sale of services 58.47 37.61 80.28 187.44 Total Revenue from operations 327,06 470,43 407.18 2,068.84 11) Other Income 30.67 0.12 37.68 65.43 Total income 357.73 470.55 444,86 2,134.27 2 Expenses a) Finance costs 103.75 102,15 104.38 416,29 b) Fees and commission expense 30.74 27.88 28.30 1.10.33 c) Net loss on fair value changes - - - - 0) Impairment on financial instruments (44.62) 83.50 16.86 260.70 e) Cost Of materials cdnsurned 0.36 0.49 0.52 1.86 I) Purchases of Stock-in-trade 0.11 0.16 0.06 0.53 g) Employee Benefits Expenses 74.40 123.10 70.87 355.10 h) Depreciation and Amortization 20.22 22.63 21,44 85.73 I) Others expenses 77.48 79.13 97,97 368,80 Total expenses 262.44 439.04 340.40 1,599.34 ' i ofit! (Irns) bs 'o e Olr I iii 1 0ix:o.z.: .).. 51., 1 9 1 3::-,1 . 0 i.,1,2.16 ,:: ':::;34.93 - Exceptional items H 4. • -r, I 6,. ,. 10.72 ofiti ,(!ni..01.07;4:::fdli.r3,'-ii! ,, 03. 3: 27.34% 1 (p.83: 524;21 . . . 6 Tax expense a) Income tax 20.06 0.98 16.93 83.40 b) Taxation for earlier years - 0.03 (0.13) Deferred Tax (Net) 15.60 (7.71) 23.47 6,23 Tax expense [ 6(a) to 6(c) j 35.66 (6.70) 40.40 89.50 frtifig(laS):1 .41;:litilOperfod afertaX•es.(5-6)Y (ill al • 34.06 .6243 4.7 I 8 Share ofnet profit of PSOCiateS and joint yen ttiNs acroonted fr i.Ow the o equity method _ ,. PeOfifi.,(140,for the period (7+8) • 60.27 • 24.06 -I ,:i::i:i 62A 434.71 10 Other Comprehensive Income Items that will not be reclassified to profit or loss -Fair value changes on FVTOCI - Equity securities 46.28 2.01 162.56 159.36 -Gain/(loss) on sale of FVTOCI - Equity securities . . - - -Actuarial gaini(loss) on Defined benefit obligation (1.01) 3.54 (4,90) 2.56 Income tax relating to items that will not be reclassified to profit or loss -Tax on Fair value changes on FVTOCI - Equity securities (6,62) (0.29) (23.87) (23.42) -Tax on Actuarial gainkloss) on Defined benefit obligation 0.30 (0.87) 1.40 (0.52) Items that will be reclassified to profit or loss - Debt securities measured at EVTOCI - net change in fair value - (1,13) 0.89 (0.86) - Debt securities measured at FVTOCI - reclassified to profit and loss 5.04 - - Exchange differences in foreign opus Acme translations 0,04 1.16 - 1.82 Income tax relating to items that will be reclassified to profit or loss -Tax on Fair value changes on FVTOCI - Debt securities (1.76) 0.40 (3.31) 4,8-21, 135.77 0.30 139.24 ; 573.9,5 . Other comprehensive laconic / (loss) (net of tax) • 42,27 Ii Total comprehenslIT income ./ (loss) .(after tai) (9+111) • . :•::102:54 :.38.88 - 09820 12 Profit/ (lass) for the period attributable to Equity holders of the parent 33.52 13.22 39,93 180.87 Nomeeintrofling interest 26.75 20.84 22.48 253.84 13 Other comprehsive income/ (loss) attributable to Equity holders of the parent 23.67 2.18 71.63 72,77 Non-controlling interest 18.60 2.64 64.15 66 47 14 Total comprehensive income/ (loss) attributable to Equity holders of the parent 57.19 15.40 111,56 253.64 Non-controlling interest 45.35 23.48 86,62 320.31 IS Paid upequity share capital (Face Value of 4 10/- each) 2,694.31 2,694.31 2,694.31 2,694.31 16 Other Equity (as per audited balance sheet si at 31st March) 6,250.13 17 Earnings per share (face value 410 each) (riot annualised for „ix.leri_rn period): (a) Basic (Z) ..,',%' ,•!N -t■I'•' 0.12 0.05 0.15 0.69 (b) Diluted (4) ,,,,.../.-_, :\;:>----------...„ \ o r,..,\ \ ,,,, 0.12 0.05 , ..,','-:- .-a-ft7;77•1>, 0.15 0.69 See accompanying notes to the financial results
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IFC7 LTD. L74899DL1993501053677 L.vinr) REGD. OFFICE IECI TOWER 61, NEHRU PLACE, NEW DELHI — 110 019 WEBSITE: www.ifclitd.com Notes: 1 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on 11th August 2026. These results have been reviewed by M/s S Mann and Company, Chartered Accountants. 2 In terms of the communication received by IFCI Limited from Department of Financial Services (DFS), Ministry Of Finance, vide letter F.No.2/22/2016-1F-1 dated November 22, 2024, In-principle approval has been accorded to consider 'Consolidation of IFCI Group' which entails Merger / Amalgamation of certain group companies at the holding company level and subsidiary company level, DFS has advised to take further necessary action and to commence the process in accordance with the applicable laws, rules, regulations etc. In this regard, the Board of IFCI at its Meeting held on November 22, 2024 has considered and accrorded In-principle approval to consider aforesaid 'Consolidation of IFCI Group', and to commence the process for the same, in accordance with the regulatory/ statutory/applicable laws, rules, regulations, guidelines, framework and standards, etc. The detailed disclosure has been reported to stock exchanges on November 22, 2024 and updated on July 14, 2025. 3 As on June 30, 2026, provisioning required under RBI Prudential (IRACP) Norms (including standard assets provisioning) is higher than impairment allowance under Ind AS 109 by Rs. 51.67 crore. However, since the existing balance in the impairment reserve stands at Rs, 101.67 crores, no further Impairment Reserve has been created, as per the requirements of RBI notification no. RBI/DOR/2025-26/356 — DOR.STRREC,No.275/21,04.048/2025-26 dated November 28, 2025. Further, the existing Impairment Reserve of Rs, 104,67 crare has not been reversed, since no withdrawals are permitted from this reserve without the prior approval of the Department of Supervision of the Reserve Bank. 4 The Company has recognised interest income of Rs. 18.90 crores on stage 3 assets (except on assets which are standard under IRAC norms) for the quarter ended :tine 30, 2026. Since, there is no expectation of recovery, the same has been written off as bad debts in the same period. Hence, there is no impact on net profit or loss for the period. 5 The Gross NPA numbers are provided below, Since IECI has not been taking any fresh loan exposure, it has resulted in reduction in standard loan accounts and higher level of NPAs. Jun-26 Mar-26 Gross NPAs (Rs. Crore) 3,521.81 3,589.97 Gross NPA % i 95.68% 95.79% 6 For the purpose of assessment of impairment of investment in subsidiaries, the valuation of Investments in subsidiary companies has been considered on the basis of financial statements of the subsidiaries for the period ended 31st March 2026, instead of 30th June 2026. 7 One of our subsidiary viz. Stockholding Corporation of India Limited is involved in a litigation arising out of a securities transaction undertaken in FY 2000-01, involving an amount of Rs.24.41 crore, pursuant to which a Civil Appeal is pending for final disposal before the Honible Supreme Court of India. The matter is sub judice and pending final adjudication as at the reporting date. 8 On all the secured bonds and debentures issued by the Company and outstanding as an 30th June 2026, 100% security cover has been maintained against principal and interest, by way of floating charge on book debts/receivables of the Company. The security cover in the prescribed format has been annexed 85 AnnexUre A. 9 The Capital Risk Adequacy Ratio (CRAR) stands at (-) 17.58% as on 30th June 2026, which is below the minimum CRAR of 15% as prescribed under the Non-Banking Financial Companies — Prudential Norms on Capital Adequacy) Directions, 2025, vide Notification No. RBI/DOR/2025-261345 DOR,CAP.REC.264/21-01-002/2025-26 dated 28 November 2025. 10 Some Audit observations in case of Subsidiary Companies are based on routine operations of the companies. The financial Impact of such observations are not considered material, on overall basis. 11 In the context of reporting business/geographical segment as required by Ind AS 108 - "Operating Segments", the Company operations comprise of only one business segment of financing. Hence, there is no reportable segment as per Ind AS 108. 12 The details of loans transferred during the quarter ended June 30, 2026 in accordance with RBI notification no. RBI/DOR/2025-261352 DOR.STR,REC,271/21.04.048/2025-26 dated November 28, 2025, being the Reserve Bank of India (Non-Banking Financial Companies — Transfer and Distribution of Credit Risk) Directions, 2025 is as follows: Details of stressed loans transferred during the quarter Amount in Rs, Crores) Particulars To ARCs To permitted To other 1. Number of Accounts - - 2, Aggregate outstanding of accounts sold to SC/ RC - - - 3. Weighted average residual tenor of the loans transferred - - - I. ' Net book value of loans transferred (at the time of transfer) - - S. Aggregate consideration 6. Additional consideration realized in respect of accounts transferred in earlier years - .. - 7. Aggregate gain/ (loss) over net book value - -
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•5ittaiirtirpr [Col Tower * 61, Nehru Pie e -4TE — Is New Qeihi-i 9 c (Rahui Bhave) Managing Director & Chief Executive Officer Place: New Delhi Date: 11 August 2026 IFCI LTD, CIN: E/48990L1993G01053677 REGD. OFFICE : IFCI TOWER 61, NEHRU PLACE, NEW DELHI — 110 019 WEBSITE: www.ifciltd,com ,047,1F Erth Details of loans acquired during the quarter Amount in Rs, Crores From lenders From AltCs 1 Aggregate principal outstanding of loans acquired Nil 2 Aggregate consideration paid Weighted average residual tenor of loans acquired Further, there are no cases during the period ended lune 30, 2026, where resolution plan is implemented under the resolution framework for COVID 19 related stress as per RBI Circular dated 6th August 2020. 13 The additional information as required under Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed as Annexure B. 14 As per the applicability criteria provided under SEBT circular SEBIMO/DDHS/P/CIR/2021/613 dated August 10, 2021, (updated as on April 13 1 2022) company is not a large corporate, hence the disclosure required to be made in terms of the said circular is not applicable, 15 The figures for the previous quarter/period have been regrouped / rearranged wherever necessary to conform to the current period presentation,
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11:111:• •• • 1 1 .•• • y:fciA0. ':o iiiy 0.24 TnIILrlgi 6111 Asrets 0.21 01111111 1,119.57 1,339.37 1,182,57 1,182.57 1,182.57 VII 2,12 0,129.55 ANN EMIR E A-SECURITY COVER ••-• CtilritIon I 11" Iii,, iii c•o•e 11iinn. I. . ,.:,iiii,,... ,...nirri; : . /1-.n.31, .,ni:i.•:..5.,e(.1..ii...ii.5,":,.::?..:ri ..1.viihii,i ...:I . ,..i...i ts.a.,1,1. III I II1.::::1: I'lli■.ii•I:...(1nrIn: iiiiIiikni.....V.7...liri....is. Ii:Irn• -...::1;.‘,:rili,i2 n.i.:In4...'i.:'.:i.i.'r1H:•I'i. ....in.:,..-•:iiiiiI.'iiI•kiiI...o::::....riIiE.ir.i,.6 14....i.s..i..i.:ii. . cnic•• I, 1'2.: :..1;:ii:Zi.:1::•11:::1.:lit. ... :. '111 c i=4:!.... .....3:1:1k rill .A1..:1'. 1)611,A • 11 0; 11. 81151918 .Proporly, rind 111911i951cot Ci1911111 Work 111-Progronr; Righr VIP thic /5‘sonA Goodwill 481.99 481.99 '3,16 3.16 intunginle.As,sels under 1)eveIo0inonl: Ill VII) IIlIei161 1.11)911 Inventories 'rraclo Roceivo6le3 C.InFli rind Cosh Erinivnlorill Honk 061m -ices nIhoi1111111 onsh nix! 1111111 191115111181112 2,159.48 2,159.48 Yn.v T:072,51 1,072.51 1,072.51 1,072.5/ Vas 11'0,06 110 06 110,116 2.6,78 26.78 8,118.311 2,188.6 C.; 011.:1A K j r t8I'isi! .11.11
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unimniEs 1-.)cht 'securities to which. this cortilleale pcilE11es Yen 148.20 148.20 011)cr cieUt sharing pill- 8assi.1 ellutge will.' Pliove ticht net to be filled Other IletiL Suberdinutecl tIc1-4: 744.67 744.67 744,07 BurirmiogS finiii; Dell Securities 2,711,72 2,71 [ .72 2,7H.72 C1[11011 ( PC hurl-owing) 11' rode poyiihIcs 44.60 44.60 1,c8sc Lit-8)11810R - Proviflters 73.97 13.9'7 Cutlers 3,548.40 3,504.86 To6i1 . 148.20 7,163.92 7,312,12 CcVee on 111.4eh ,..'n'.ie . ... .... •-'7.99 , Ccycr oil ?1/44,,ills11111:dile •-,. It.xclusive Scellfity Cover 12111.10 PnriTascu Sec:Airily (Inver Ratio . . . ... ... 1..,:k4414,ie....6“iiiii]luil l'in .....cn-...1141e,es ..:4:ii-:0 I ,. II,... isle :I ..I.8 ...A1■1'..'1:1.:141,1.0 .....104:..,4...,11,111.::, c.,,,,,c-ouisiti.:i111.5 6 I. II CT kc, 1u8-16..C.Ureil.01111 NCe,i6411c., (1.....:11'.k.):111111:ccr i'1.,. 1.1,4 c.1:11 rev.e.49111.4%ic•-1 •!..'...iP::,'..i.w .1,.Ntrrii.'..-1;::::::.1 ei:i lii .lea k y il,e.1-.;ied _ . . . c r CI..., f:ii81'.111::' l'!1.1111 :.• -.11-cf., ' . • . . .11:668411111reClc,recei4811161:.-iz.". i.-ec01.11;114•,i1..q .:41,,i. i h-.■ .., -e-,t. .1(8- On ,,,, i no .i'ki:li 1.'..::..'1:=4"iii..cii...1:N I, ''':i..1:....: ..
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urfr,F 1FCi Tower * ve4z,r SI, Nehru Place -‘1-4 Nev Delhi-19 CM: L74899DL1993G01053677 REGD. OFFICE 1 IFCI TOWER 61, NEHRU PLACE, NEW DELB/ — 110 019 7, 1, 1 WEBSITE: www,ifoiltd.com Annexure B Disclosuie irt .ccnnoliance with Regulation 52(4) of Se.curities and Exelia nee :Board of India SERI (listing Obil4ationS and Nscicfsure Requirernents) RegulAtions,_ 2015 for the period quarter 30th June, 2026 on sta nrialohe basis .S .C.`40 Particulars Unit . . . As at/ for thE , -_;uarter ended 30.06.2026 - . Debt-Equity ratio 1 times 2.00 2 Outstanding Redeemable Preference Shares Rs, In Crore Nil 3 Capital Redemption Reserve Rs, In Crore 231,92 4 Debenture Redemption Reserve Rs, ImCrore Nil 5 Net Worth 2 Rs, In Crore 1,796.96 6 Net Profit After Tax Rs. In Crore 8,64 7 Earnings Per Share Rs. 0,03 8 total Debts to Total Assets 3 times 0.40 9 . Operating Margin 4 % 2.53% 10 Net Profit Margin 5 % 8.42% 11 Sector Specific Equivalent Ratios (a) CRAR 6 % -17,58% (b) Gross credit impaired Assets Ratio 7 a/o 95,68% (C) Net credit impaired Assets Ratio 8 ' % 78.20 2/o Notes! 1 Debt-Equity ratio . Debt/Net worth Net Worth is calculated as defined in Section 2(51) of Companies Act, 2013 Total Debts to Total Assets -- (Debt securities ± Borrowings (other than Debt Securities) +Subordinated Liabilities)/ Total Assets Operating Margin = Net Operating Profit before Tax/ Total Revenue from Operations Net Profit Margin = Net Profit after Tax/ Total Revenue from Operations CRAR = Adjusted Net Worth/ Risk Weighted Assets, calculated as per RBI guidelines Gross credit impaired Assets Ratio= Gross Credit Impaired Assets/ Gross Loan Assets Net credit impaired Assets Ratio = Net Credit Impaired Assets/ Net Loan Assets Debt Service coverage Ratio, Interest Service Coverage Ratio, Current Ratio, Current Liablity Ratio, Long Term Debt to Working Capital, Debtors Turnover, Inventory Turnover and Bad Debts to Account Receivable Ratio is not applicable to the Company,
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S. MANN & CO. CHARTERED ACCOUNTANTS SUBHASH MANN B.Sc. F.C,A, CHARTERED ACCOUNTANT 1006, 10TH FLOoR, -V1KRANT TOWER,, RAJINDRA. "PLACE, NEW DELHI-1 10008 PHONE OFF.: 011 .,25735612, 25811989 FAX : 011.25754596 . EMAIL : s.man'n 9786hotrnail.corn independent Auditor's Limited Review Report on Standalone Unaudited Financial Results of /HI Limited for the u arte r ended 30th lurie 2026 ursnant to the Regulation 33 & R.egulation 52 of the SEBI (Listing Obligations and Disclosure • Requirements) Regulations, 2015 as amended To, The Board of Directors IFCI Limited New Delhi 1. We have reviewed the accompanying .statement of Standalone Unaudited Financial Results of IFCI Limited ("The Company") for the Quarter ended 30th June, 2026 ("The Statement") attached herewith, being submitted by the company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. This statement, which is the responsibility of the Company's Management and has been approved by the Board of Directors, of the Company, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards ("IND AS 34") "Interim Financial Reporting'', prescribed under section 133 of the Companies Act, 2013, as amended read with relevant rules issued there under, as applicable and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
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3. We conducted our review in accordance with the Standard on Review Engagement ("SRE") 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the institute of Chartered Accountants of India ("ICAI"). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Financial Statements are free from material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less asSurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Financial Results, prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013, as amended, read with rules issued there under and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEBT (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has hot been prepared in accordance with relevant prudential norms issued by the Reserve Bank of India (so far it is not inconsistent with IND AS norms) in respect of income recognition, asset classification, provisioning and other related matters.
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Emphasis of Matter 1. We draw attention to Note No. 2 of the Statement, according to which an in- principle approval has been accorded by the Department of Financial Services (DFS), Ministry of Finance, Government of India and duly considered and accorded by the Board of IFCI to consider "Consolidation of IFCI Group" which entails Merger / Amalgamation of IFCI Limited with certain group companies at the holding company level or subsidiary company level, 2. We draw attention to Note No. 4 of the financial results regarding recognition of interest income of Rs. 18.90 crores on stage 3 assets (except on assets which are standard under IRAC norms) for the quarter ended 30,06.2026. Since, there is no expectation of recovery, the same has been written off as bad debts in the same period. Hence, there is no impact on net profit or loss for the period, 3. We draw attention to Note No. 6 where the valuation of the investments in subsidiary companies has been considered on the basis of financial Statements of the subsidiaries for the period ended 31st March, 2026 instead of 30th June, 2026. 4. We draw attention to Note No. 9 where the Capital Risk Adequacy Ratio (CRAR) stands at (-) 17.58% as on 30.06.2026, below the RBI notification no. RBI/DOR/2025-26/345-DOR.CAP.REC.264/21-01-002/2025-26 dated November 28, 2025. 5. We draw attention to Note No. 3 where the prOvisioning required under RBI Prudential (IRACP) Norms (including standard assets provisioning) is higher than impairment allowance under Ind AS 109 by Rs, 51.67 crore. However, since the existing balance in the impairment reserve stands at Rs, 104.67 crores, no further' Impairment Reserve has been created, as per the
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requirements of RBI notification no RBI/DOR/2025-26/356 - DOR.STRREC, No.275/21.04.048/2025-26 dated November 28, 2025. Further, the existing Impairment Reserve of Rs. 104.67 crore has not been reversed, since no withdrawals are permitted from this reserve without the prior approval of the Department of Supervision of the Reserve Bank. Our opinion is not modified in respect of these matters. • For S MANN AND COMPANY Chartered Accountants Firm Registration No: 000075N CA SUBBASH CHANDER MANN Partner Membership No. 080500 UDIN: 2608050ORRGTIN2476 Place: New Delhi Date: 11th August, 2026 2
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S. MANN & CC/ CHARTERED ACCOUNTANTS SUBHASH MANN B.Sc, FC:A. CHARTERED ACCOUNTANT 1006, 10TH FLOOR, V1KMNT TOWER, RAJ1NDRA PLACE, NEW DELF-11-110008 PHONE : OFF,: 011-25735612,25811989 FAX : 011-25754596 E-MAIL : s.man'n I 978@hotmaii.com Independent Auditor's Limited Review Report on Consolidated Unaudited Financial Results of IFCI Limited for the 0 uarter ended 30t 11 une 2026 3ursu ant to the Regulation 33 & Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended To, The Board of Directors IFCI Limited New Delhi 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of IFCI Limited ("The Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit/(loss) after tax and total comprehensive income/loss for the Quarter ended 30th June, 2026 ["The Statement"] attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI [Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. This statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards ("Ind AS 34") "Interim Financial Reporting", prescribed under section 133 of the Companies Act, 2013, as amended read with relevant rules issued there under, as applicable and other accounting principles generally accepted in India. Our responsibility is to issue a report on these consolidated financial statements based on our review.
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3. We conducted our review of the Statement in accordance with the Standard on Review Engagement ("SRE") 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India ("ICAI"). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters and applying analytical other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEM under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended to the extent aPplicable. 4. The consolidated financial results include the results of the following entities: S. No, Name of the Entity Relationship 1. IFCI Limited Parent Company 2. IFCI Financial SerVices Limited (IFIN) Subsidiary 3. IFCI Venture Capital Funds Limited (IVCF) Subsidiary 4. IFCI Infrastructure Development Ltd. (IIDL) Subsidiary 5. IFCI Factors Limited (IFL) Subsidiary 6. MPCON Limited Subsidiary 7. Stock Holding Corporation of India Limited Subsidiary 8. .IFiN Commodities Limited (indirect control through (IFIN) Step-down Subsidiary 9. IFIN Credit Limited (indirect control through (IFIN) Step-down Subsidiary 10. IFIN Securities Finance Limited (indirect control through (IFIN) Step-down Subsidiary 11. IIDL Realtors Private Limited (indirect control through (IIDL) _ Step-down Subsidiary
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12. SHCIL Services Limited (indirect control through (SHCIL) Step-down Subsidiary 13. Stockholding Document Management Services Limited (indirect control through (SHCIL) Step-down Subsidiary 14. Stockholding Securities IFSC Limited (indirect control through (SHCIL) Step-down Subsidiary 5. Based on our review conducted and procedures performed stated in paragraph 3 above, nothing has come td our attention that causes us to believe that the accompanying Statement of Unaudited Financial Results, prepared in accordance with the applicable Indian Accounting Standards as specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rule § issued there under and other recognized . accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the SEM (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We did not review the unaudited financial results of six subsidiaries and seven step-down subsidiaries included in the consolidated unaudited financial results, whose financial results reflect total income of Rs. 245 ..88 Crores, total net profit/ (loss) after tax of Rs. 60.64 Crores and total comprehensive income (net of tax) of Rs. 100.10 Crores for the quarter ended 30.06.2026, as considered.suitably in the consolidated unaudited financial resultS. These unaudited financial results have been reviewed by other Auditors whose report has been furnished tons by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above. Emphasis of Matter 1. We draw attention to Note No. 2 of the Statement according to which an in principle approval has been accorded by the Department of Financial Services (DFS), Ministry of Finance, Government of India and duly considered and
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accorded by the Board of IFCI to consider "Consolidation of IFCI Group" which entails Merger /.Amalgamation of IFCI Limited with certain group companies at the holding company level or subsidiary company level. 2. We draw attention to Note No. 4 of the financial results regarding recognition of interest income of Rs. 18.90 crores on stage 3 assets (except on assets which are standard under IRAC norms) for the quarter ended 30.06.2026. Since, there is no expectation of recovery, the same has been written off as bad debts in the same year. Hence, there is no impact on net profit or loss for the year. 3. We draw attention to Note No, 7 where one of company's subsidiary viz. Stock Holding Corporation of India is involved in a litigation arising out of a securities transaction undertaken in FY 2000-01, involving an amount of Rs, 24.41 crore, pursuant to which a Civil Appeal is pending for final disposal before the Honorable Supreme Court of India. The matter is sub judice and pending final adjudication as at the reporting date. 4. We draw attention to Note No. 9 where the Capital Risk Adequacy Ratio (CRAR) stands at (-) 17.58% as,on 30.06.2026, below the RBI notification no. RBI/DOR/2025-26/345-DOR.CAP.REC.264/21-01-002/2025-26 dated November 26, 2025. 5. Refer to Note No. 10 of financial results, pertaining to audit observations of subsidiary companies, which are considered non-material at group level. 6. We draw attention to Note No. 3 where the provisioning required under RBI Prudential (IRACF) Norms (including standard assets provisioning) is higher than impairment allowance under Ind AS 109 by Rs. 51.67 crore. However, since the existing balance in the impairment reserve stands at Rs, 104.67 crores, no further Impairment Reserve has been created, as per the requirements of RBI notification no "RBI/DOR/2025-26/356- DOR.STR.REC.N0.275/21.04.048/2025-26 dated November 28, \,‘
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,,,/0„.*f21 c'..`.‘.,'`k■k. 0 \ New Delhi A c'G. 2025. Further, the existing impairment reserve of Rs. 104,67 crores has not been reversed, since no withdrawals are permitted from the reserve Without prior approval of the Department of Supervision of Reserve Bank, Our opinion is not modified in respect of these matters, For S MANN AND COMPANY Chartered Accountants Firm Registration No: 000075N CA SMASH CHANDER MANN Partner Membership No. 080500 UDIN: 260805001T0SJR2095 Place: New Delhi Date: llth August, 2026