Interim report
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Reliance Power Limited CIN: L40101MH1995PLC084687 Dhirubhai Ambani Knowledge City Thane Belapur Road, Koparkhairane, Navi Mumbai 400 710 Tel: +91 22 4303 1000 www.reliancepower.co.in Registered Office: Reliance Centre, Ground Floor, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai 400 001 A ugust 06, 2026 BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai 400 001 BSE Scrip Code : 532939 National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 NSE Scrip Symbol: RPOWER D ear Sir(s), S ub.: Outcome of the Board Meeting Further to our letters dated August 03, 2026 and pursuant to Regulation 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we enclose herewith the Statement of Unaudited Financial Results (both Consolidated and Standalone) for the quarter ended June 30, 2026 of the Financial Year 2026-27 along with the Limited Review Reports by the Statutory Auditors of the Company. The above financial results were approved by the Board of Directors at its meeting held toda y i.e., on August 06, 2026 and shall be published in the newspapers in accordance with the Listing Regulations. The meeting of the Board of Directors of the Company c ommenced at 05:00 P.M. and concluded at 06:00 P.M. Kindly take the same on record. Thanking you. Yours faithfully, For Reliance Power Limited Ramandeep Kaur Company Secretary Encl.: As above
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RELIANCE POWER LIMITED CIN : L40101MH1995PLC084687 Registered Office: Reliance Centre, Ground Floor, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai - 400 001 . Tel: +91 22 43031000 Website: www.reliancepower.co.in Email : reliancepower.lnvestors@reliancegroupindia.com Statement of Consolidated Financial Results for the Quarter Ended June 30, 2026 Quarter ended Sr. Particulars June March June No. 30 2026- 31 , 2026 30. 2025 Unaudited Unaudited Unaudited 1 Revenue from Operations 1,95,632 1,88,726 1,88,558 2 Other Income 14,743 5,907 13,973 Total Income 2,10,375 1,94,633 2,02,531 3 Expenses (a) Cost of fuel consumed 1,03,192 95,524 93,573 (b) Employee benefits expense 6,534 5,794 5,755 (c) Finance costs 38,663 47,406 42,587 (d) Depreciation and amortization expense 20,728 20,522 20,660 (e) Generation, administration and other expenses 29,665 29,779 32,726 Total expenses 1,98,782 1,99,025 1,95,301 4 Profit/ (Loss) before exceptional items and tax (1+2-3) 11,593 (4,392) 7.230 5 Exceptional Item Impairment of property, plant and equipments - (38,160) - 6 Profit/ (Loss) before tax (4+5) 11,593 (42,552) 7,230 7 Income tax expenses (a) Current tax 2,915 1,869 1,960 (b) Deferred tax 2,207 4,965 802 Total tax expenses 5,122 6,834 2,762 8 Profit/ (Loss) from continuing operations after tax (6-7) 6 471 (49,386 4 468 9 Profit/ (Loss) from discontinuing operations before tax @ (14) @ 10 Income tax expense of discontinuing operations - . - 11 Profit/ (Loss) from discontinuing operations after tax (9-10) 1B) (14 @ 12 Profit/ (Loss) for the quarter/ year (8+11) 6,471 (49,400) 4,468 13 Other Comprehensive Income/ (loss) a Items that will not be reclassified to profit or loss (i) Remeasurements of net defined benefit plans . (498) - b Item that will be reclassified to profit and loss - currency translation (loss) 13 (652) 11 Other Comprehensive lncome/(Loss) for the quarter/ year 13 (1,150} 11 14 Total Comprehensive lncome/(Loss) for the quarter/ year (12+13) 6,484 (50,550) 4,479 15 Paid up Equity Share Capital 4,13,578 4,13,578 4,13,578 16 Other Equity (including equity share warrants) 17 Earnings per equity share: (Face value of Rs. 1 O each) For Continuing operations Basic (Rs.) 0.156 (1.194) 0.109 Diluted (Rs.) 0.156 (1 ,194) 0.106 For Discontinuing operations Basic (Rs.) (0.000) (0.000) (0.000) Diluted (Rs.) (0.000) (0.000) (0.000) For Continuing and discontinuing operations Basic (Rs.) 0.156 (1.194) 0.109 Diluted (Rs.) 0.156 (1.194) 0.106 (EPS for the quarter ended is not annualised) @ Amount is below the rounding off norm adopted by the Group. R• In lakh,; .. Year ended March 31 202-6 Audited 7,61,971 36,881 7,98,852 3,79,911 23,233 1,66,621 82,921 1,22,495 7,75,181 23,671 (38,160) (14,489) 8,299 10,887 19,186 (33 6751 (14) - 1141 (33,689) (498) (1 ,069) (1,567) (35,256) ----- 4,13,578 11,90,364 (0.817) (0.817) (0.000) (0.000) (0.817) (0.817)
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Notes: 1. The aforesaid Consolidated Financial Results of Reliance Power Limited ("the Parent Company") together with all its subsidiaries ("the Group") and associate were reviewed by the Audit Committee of the Board and subsequently approved by the Board of Directors of the Parent Company at its meeting held on August 06, 2026. 2. The Figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures in respect of full financial year and year to date figures up to the third quarter. 3. The Consolidated Financial Results of the Group have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the Companies Act, 2013. 4. The Group is engaged in only one Segment viz. 'Generation of Power' and hence, there is no separate reportable segment as per Ind AS-108 'Operating Segments'. The Group's operation is predominantly confined to India. 5. Financial results of Reliance Power Limited (Standalone) are as under: (Rs. in lakhs) Particulars Quarter ended March 31, (Unaudited) 2026 (Audited) June 30, 2026 March 31, 2026 June 30, 2025 Revenue from Operations 20 51 163 for the quarter/ year ProfiU (Loss) before tax for 320 741 190 1,337 the quarter/ year ProfiU (Loss) after tax for 320 741 190 1,337 the quarter/ year Totql Comprehensive 1 Income / (Loss) for the 320 (963) 190 (367) I quarter/ year 6. RSTEPL has incurred continuous losses due to the failure of the technology implemented for the project, which has not delivered the desired results despite multiple improvement measures undertaken. Consequently, RSTEPL has defaulted in repayment dues to its lenders during the quarter ended June 30, 2026, as well as in earlier years. Further, on July 26, 2022, Ld. Appellate Tribunal for Electricity (APTEL) allowed appeal filed by RSTEPL granting compensation to RSTEPL towards reduction in solar radiation and steep Foreign Exchange Rate Variation. Procurers have challenged the said APTEL order in Hon'ble Supreme Court which stayed the implementation of APTEL order and is currently pending adjudication. Further, the management is pursuing various measures for improvement in operational performance and resolution of lender dues. The management is also in advanced discussions with lenders to achieve a resolution of the outstanding debt defaults. In view of the above, the financial results of RSTEPL have been prepared on a going concern basis. Notwithstanding the foregoing, the Parent Company remains unaffected by RSTEPL's defaults. The auditors of RSTEPL have drawn qualification in their review report.
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7. Samalkot Power Limited (SMPL), a subsidiary of the Parent Company, has incurred losses during the quarter as well as earlier years and its current liabilities exceeds its current assets. The lender of SMPL raised a demand amounting to Rs. 1,84, 196 lakhs (including interest), invoking the guarantee agreement executed by the Parent Company. Subsequently, SMPL has initiated arbitration proceedings against the lender and Citibank N.A. (facility agent) before the London Court of International Arbitration ("Arbitration Tribunal"), in accordance with the terms of the Amended and Restated Credit Agreement dated June 28, 2019, read with the marketing agreements executed among, inter alia, the lender, SMPL, and the marketing consultants. The arbitration has been initiated on the ground that no debt was due under the aforesaid agreements. In light of the above, the Parent Company has communicated to the lender and the facility agent that, since the debt has not fallen due and there is no default, the guarantee provided by the Parent Company cannot be invoked. On June 23, 2026, the Arbitration Tribunal issued its partial final award on jurisdiction, holding that it does not have jurisdiction in respect of SMPL's claim. The Arbitration Tribunal expressly confined its decision to the issue of jurisdiction and did not examine or determine the merits of SMPL's substantive claims. Subsequently, on July 30, 2026, the arbitration initiated by SMPL under the marketing agreements was withdrawn. During the quarter ended June 30, 2026, the lender has initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Parent Company and the management is currently evaluating the appropriate legal course of action. Further, SMPL has discharged all interest obligations up to June 30, 2025, and the interest for the period July 2025 to June 30, 2026, has been appropriately provided in the books of account. On June 6, 2026, SMPL entered into an Equipment Sale Agreement with AM Green Energies B.V. for the sale of project equipment pertaining to Module 2 and Module 3 of the 1,508 MW (2 x 754 MW) Combined Cycle Power Plant. The proposed sale is subject to the lender's approval. Upon consummation of the proposed asset monetization transaction and receipt of requisite approvals, the management expects the outstanding lender obligations to be completely addressed. The management has considered the proposed monetization of assets and ongoing discussions with lenders while assessing the appropriateness of the going concern assumption. Accordingly, the management believes that, it will be able to realize its assets and discharge its liabilities in the normal course of business and therefore the financial results continue to be prepared on a going concern basis. The auditors of SMPL have drawn qualification in their review report. 8. Dhursar Solar Power Private Limited (DSPPL), a subsidiary of the Parent Company, has carried out an impairment assessment of its Property, Plant and Equipment in accordance with the requirements of Ind AS 36 - "Impairment of Assets" as at March 31, 2026. For the purpose of impairment testing, DSPPL obtained an independent valuation report from an external valuer. The valuation was carried out using the Discounted Cash Flow (DCF) method under the Income Approach based on management estimates and assumptions relating to future revenue, operational performance, maintenance expenditure, useful life of assets and weighted average cost of capital (WACC). Based on the said valuation assessment, the recoverable amounUvalue in use of the assets is higher than the carrying value as at June 30, 2026 and accordingly, management is of the view that no impairment provision is required in the financial results. Further, the management has assessed the recoverability of receivables, advances and inter corporate deposits outstanding from Reliance Infrastructure Limited ("Reliance Infra") based on ongoing discussions, expected future realization and other available information. Reliance Infra is a promoter company of the Parent Company and balance confirmation in respect of the outstanding amounts has also been received from Reliance Infra. Further, DSPPL has received recoveries aggregating to Rs. 9,268 lakhs and Rs. 8,868 lakhs during the years ended March 31, 2026 and March 31, 2025, respectively, from Reliance Infra. Based on the aforesaid assessment and recovery trend, the management believes that the outstanding amounts are recoverable and
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accordingly no additional Expected Credit Loss provision is considered necessary as at June 30, 2026. The auditors of DSPPL have drawn qualifications in their review report. 9. Further as stated in note 6 & 7 above, the consequential impact of these events or conditions indicates that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. The Group remains positive to meet its liabilities in the ordinary course of business and through time-bound monetization of assets of the subsidiaries. 10. During the quarter ended June 30, 2026, 34,32,00,000 outstanding warrants issued by the Parent Company lapsed on account of non-conversion within the prescribed period of 18 months. Consequently, the amount of Rs. 30,262 lakhs received against such warrants has been forfeited. 11. The Parent Company, certain subsidiaries and certain officials are subject to investigation by the Enforcement Directorate ("ED") under the Prevention of Money Laundering Act, 2002 ("PMLA"). In connection with the said investigations, the ED has attached certain assets of the Group. The Group is contesting the said attachments and is taking necessary legal steps to protect its rights and interests, including filing appropriate petitions before the competent courts and authorities. Based on management's assessment, no provision is considered necessary at this stage and there is no impact on the business operations of the Group. 12. During the quarter ended June 30, 2026, and subsequent thereto, the Central Bureau of Investigation (CBI) conducted a search and seizure operation at the registered office premises of the Parent Company and Reliance Cleangen Limited in connection with transactions involving Reliance Comme;cial Finance Limited and Reliance Home Finance Limited. The officials have fully cooperated with the investigating authority and will continue to extend their cooperation. There has been no impact on the business operations of the Group, and the Group continues to operate its business in the normal course. 13. Tl1e Parent Company has opted to publish the consolidated financial results, pursuant to opti~n made available as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The standalone and consolidated financial results of the Parent Company and the Group for the quarter ended June 30, 2026 are available on the websites viz. www.reliancepower.co.in and on the website of BSE www.bseindia.com and NSE www.nseindia.com. 14. (a) Discontinuing operations represent Chitrangi Power Project, MEGL Shahapur Power Project, Wind Project and Dadri Project of the Parent Company. Details of discontinuing operations are as under: Particulars I Income Expenses Quarter ended J!J._i_:iaudited) June 301.2026 7 March 31 , 2026 Profit /_(Los~) before tax Taxexpens~ _ j Profit / (Loss) after tax _I _ Jun~ } _9, 2025 @ @ @ @ amount is lower than the rounding off norms adopted by the Group. (Rs. in lakhs) March 31, 2026 (Audited) 14 (1~) (14) (b) Reliance Power Netherlands B.V. and Reliance Natural Resources (Singapore) Pte. Limited, subsidiaries of the Parent Company, have entered into a Share Purchase Agreement with Biotruster (Singapore) Pte. Limited for the sale of their 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. Completion of the transaction is contingent upon the fulfilment of
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certain coriditions precedent. Accordingly, as at the reporting date, the assets are not available for immediate sale in their present condition subject only to terms that are usual and customary for sales of such assets, and the sale is not "highly probable" as per Ind AS 105 - Non-current Assets Held for Sale and Discontinued Operations. Accordingly, the assets and liabilities have not been classified as Non-Current Assets held for Sale or Discontinued Operations under Ind AS 105. 15. The figures for the corresponding and previous period / year have been re-grouped I re-classified wherever necessary, to make them comparable. Date: August 06, 2026 For and on behalf of the Board of Directors Neeraj Parakh Executive Director, Chief Executive Officer and Chief Financial Officer (DIN: 07002249)
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Pathak H.D. &J\ssociates11P Chartered Accountants Limited Review Report on Consolidated Unaudited Financial Results of Reliance Power Limited for the quarter ended June 30, 2026 pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To Board of Directors of Reliance Power Limited 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Reliance Power Limited ('the Parent Company') and its subsidiaries (the Parent Company and its subsidiaries together referred to as the 'Group') and its associate for the quarter ended June 30, 2026 ("the Statement") attached herewith, being submitted by the Parent Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. Attention is drawn to the fact that the figures for the quarter ended March 31, 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. 2. This Statement which is the responsibility of the Parent Company's Management and approved by the Parent's Board of Directors in their meeting held on August 06, 2026, has been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013 ("the Act") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We draw attention to Note no. 6 of the Statement with reference to Rajasthan Sun Technique Energy Private Limited (RSTEPL) a subsidiary company, wherein the auditors of RSTEPL has modified their review conclusion on the financial results for the quarter ended June 30 2026, have set out the fact that, RSTEPL has incurred net loss Rs. 3,573 lakhs during the quarter ended June 30, 2026, as well as during the preceding financial years and has negative net worth as on June 30, 2026 of Rs. 2,64,580 lakhs. Further, as on June 30, 2026, its current liabilities exceeded its current assets by Rs. 2,36,240 lakhs. RSTEPL also has defaulted in repayment of borrowings aggregating to Rs.2,29,561 lakhs. These conditions and events, indicate the existence of material uncertainty that may cast significant doubt about RSTEPL's ability to continue as a going concern. The appropriateness of assumption of going concern is critically dependent upon the RSTEPL's ability to raise finance and generate cash flows in future to meet its obligations. However, the financials results of RSTEPL have been prepared on a going concern for the factors stated in the aforesaid note. In the absence of necessary evidence with respect to management assessment of going concern, we are unable to obtain adequate evidence regarding management's use of the going concern assumption in the preparation of the financial results ofRSTEPL. 4. We draw attention to Note no. 7 of the Statement wherein the auditors of Samalkot Power Limited (SMPL) have set out the fact that, SMPL has incurred net loss Rs. 2,942 lakhs during the quarter ended June 30, 2026, as well as during the preceding financial years and has negative net worth as on June 30, 2026 of Rs. 2,86,131 lakhs. Further, as on June 30, 2026, its current liabilities exceeded its current assets by Rs. 4,57,163 lakhs. SMPL also has defaulted in repayment of borrowings aggregating to Rs. 1,84,196 lakhs. Further, lender of SMPL has invoked corporate guarantee against the Parent Company and filed an application under section 7 of Insolvency and Bankruptcy Code, 2016. These conditions and events, indicate the existence of material uncertainty that may cast Regd. Office: 71, 7th Floor, Plot No. 228, Mittal Chamber, Barrister Rajani Patel Road, Nariman Point 91 22 4603 2839 to 41 URL: www.phd.ind.in
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Pathal~ H.D. & Ass ociateSLLP Chartered Accountants significant doubt about SMPL's ability to continue as a going concern. However, the financials results of SMPL have been prepared on a going concern for the factors stated in the aforesaid note. In the absence of necessary evidence with respect to management assessment of going concern, we are unable to obtain adequate evidence regarding management's use of the going concern assumption in the preparation of the financial results of SMPL. 5. We draw attention to Note no. 8 of the statement wherein the auditors of Dhursar Solar Power Private Limited (DSPPL) have set out the fact that, the carrying value of Property, Plant and Equipment (PPE) as on June 30, 2026 is Rs. 32,263 lakhs representing 39.47% of the total assets of DSPPL. The management of DSPPL have carried out the impairment assessment of PPE from the registered valuer wherein the valuer has stated the recoverable amount is more than the carrying amount as on March 31, 2026. However, we are unable to obtain sufficient appropriate audit evidence regarding the assumptions and estimates used in the valuation report, including projected revenue, growth assumptions and weighted average cost of capital applied for determining the recoverable amount of the aforesaid assets. Consequently, we are unable to determine whether any adjustment is necessary to the carrying value of these assets and the impact on the consolidated financial results. 6. We draw attention to Note no. 8 of the statement wherein, the auditors of Dhursar Solar Power Private Limited (DSPPL) have stated that DSPPL has outstanding advance recoverable of Rs. 2,034 lakhs, trade receivable of Rs. 16,120 lakhs, Inter Corporate Deposit (ICD) of Rs. 4,035 lakhs, interest accrued on ICD is Rs. 2,972 lakhs and other receivable of Rs. 2,527 lakhs as at June 30, 2026 aggregating to Rs. 27,688 lakhs from Reliance Infrastructure Limited. DSPPL has not performed expected credit loss and recoverability assessment over these receivables as per Ind AS 109 "Financial Instrument" and Ind AS 36 "Impairment of Assets". Accordingly, we are unable to comment whether any adjustment is required in the carrying value of these receivables and consequently impact, if any, on the consolidated financial results. 7. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing 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 SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended to the extent applicable. Continuation sheet...
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Pathak H.D. & Asso ciateSLLP Chartered Accountants 8. The Statement includes the results of the following entities: A. Subsidiaries (Including step-down subsidiaries) Sr.No. Name of the Company I. Sasan Power Limited 2. Rosa Power Supply Company Limited 3. Dhursar Solar Power Private Limited 4. Samalkot Power Limited 5. Raiasthan Sun Technique Enern:v Private Limited 6. Reliance Natural Resources (Singapore) Pte Limited. 7. Dhirubhai Am bani Green Tech Park Limited 8. Reliance NU BESS Limited 9. Reliance AI Data C Private Limited (formerly known as Reliance NU Energies Two Private Limited) 10. Reliance NU Suntech Private Limited 11. Reliance NU Suntech One Private Limited 12. Reliance NU BESS One Private Limited 13. Reliance AI Data Control Private Limited (formerly known as Reliance NU Wind One Private Limited) 14. Reliance AI Power Private Limited (formerly known as Reliance NU FDRE One Private Limited) 15. Reliance NU FDRE Private Limited 16. Reliance Coal Resources Private Limited 17. Reliance CleanGen Limited 18. Reliance NU Energies One Limited 19. Reliance Prima Limited 20. Reliance NU Energies Private Limited 21. Tiyara Power Private Limited 22. Reliance Natural Resources Limited 23. Reliance Neo Energies Private Limited 24. Reliance AI Green Power Private Limited (formerly known as Reliance Green Energies Private Limited) 25. Reliance GAH2 Limited 26. Reliance GH2 Private Limited 27. Reliance NU Wind Private Limited 28. Reliance Power Netherlands BV 29. PT Heramba Coal Resources 30. PT A vaneesh Coal Resources 31. PT Brayan Bintang Tiga Energi 32. PT Sriwijiya Bintang Tiga Energi 33. PT Sumukha Coal Services 34. Reliance Power Holding (FZC) 35. Reliance Transtech Private Limited Continuation sheet...
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Pathak H.D. & Asso ciateSLLP Chartered Accountants B. Associate Sr. No. Name of the Com an I. Reliance Ente rises Private Limited* * Only incorporated, no investment has been made as on date. 9. Based on our review conducted and procedures as stated in paragraph 7 above and based on the consideration of the review reports of other auditors referred to in paragraph 15 below, except for the possible effects of the matter stated in paragraph 3 to 6 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standards i.e. Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended including the manner in which it is to be disclosed, or that it contains any material misstatement. 10. We draw attention to Note no. 9 of the Statement regarding the Group's ability to meets its obligation is dependent on certain events or conditions and the consequential impact of events or conditions and matters stated in paragraph 3, 4, 5 & 6 above indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. However, the Group is confident to meet its liabilities in the ordinary course of business and through time bound monetization of assets of the subsidiaries. Accordingly, the consolidated financial results of the Group have been prepared on a going concern basis. Our conclusion on the Statement is not modified in respect of this matter. 11. We draw attention to Note no. 11 of the Statement which describes the ongoing proceedings initiated by the Enforcement of Directorate (ED) under Prevention of Money Laundering Act, 2002. As stated in the said note, a search operation was carried out by the ED at the Parent Company's premises in month of July 2025. Further ED has provisionally attached certain assets of the Parent Company and of Reliance Natural Resources Limited (wholly owned subsidiary company) which has been further extended for a period of 365 days by the Adjudicating Authority. Further subsequent to the quarter ended June 30, 2026, ED has provisionally attached receivables in the books of the Parent Company from Sasan Power Limited and receivables in the books of Reliance CleanGen Limited from the Parent Company. The outcome of the proceedings is presently uncertain and cannot be determined at this stage. Our conclusion on the Statement is not modified in respect of this matter. 12. We draw attention to Note no. 12 of the Statement wherein during the quarter and subsequent to quarter ended June 30, 2026, Central Bureau of Investigation (CBI) conducted a search and seizure operation at the Parent Company and Reliance Cleangen Limited (a wholly owned subsidiary) registered office premises in connection with the transactions involving Reliance Commercial Finance Limited and Reliance Home Finance Limited . As the matter is currently being investigated by CBI and is sub judice, the outcome of the proceedings is presently uncertain and cannot be determined at this stage. Our conclusion is not modified in respect of this matter. Continuation sheet...
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Pathali H.D. & ~so ciates LLP Chartered Accountants 13. During the previous year ended March 31, 2026, the Enforcement Directorate (ED) had initiated the proceedings under Prevention of Money Laundering Act, 2002 and filed a Supplementary Prosecution Complaint against the Parent Company, Rosa Power Supply Company Limited (Rosa), Reliance NU BESS Limited (RNBL) and certain individuals in connection with the fake bank guarantee submitted to Solar Energy Corporation of India (SECI). Further, subsequent to quarter ended June 30, 2026, Economic Offence Wing (EOW) at Delhi has also filed a chargesheet against the Parent Company, Rosa, RNBL and certain individual for the fake bank guarantee matter submitted to SECI. ED and EOW have arrested former Executive Director and Chief Financial Officer of the Company under section 19 of the Prevention of Money Laundering Act, 2002 and Bharatiya Nyaya Sanhita, 2023. As the matter is currently being investigated by ED and EOW and is sub judice , the outcome of the proceedings is presently uncertain and cannot be determined at this stage. Our conclusion on the Statement is not modified in respect of this matter. 14. As disclosed by the Parent Company in the notes to financial statements during the previous year ended March 31, 2026, the Securities and Exchange Board of India had appointed a forensic auditor in connection with alleged violations of the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, and the Companies Act, 2013. The forensic audit is currently ongoing and, therefore, its outcome cannot be determined at this stage. Our conclusion is not modified in respect of this matter. 15. We did not review the financial information of 33 subsidiaries included in the consolidated unaudited financial results, whose financial information reflect total revenues of Rs. 13,350 Lakhs, total net loss after tax of Rs. 2,678 Lakhs and total comprehensive loss of Rs. 2,665 Lakhs for the quarter ended June 30, 2026, as considered in the consolidated unaudited financial results whose financial information has not been reviewed by us. These financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far it relates to amounts and disclosures included in respect of these subsidiaries, is solely based on the reports of the other auditors and the procedures performed by us as stated in paragraph 7 above. Our conclusion on the Statement is not modified in respect of this matter. For Pathak H. D. & Associates LLP Chartered Accountants Firm's Registration No:107783W/W100593 ~ J1gar T. Shah Partner Membership No.: 161851 UDIN: 26161851GUIZMN7922 Date: August 06, 2026 Place: Mumbai Continuation sheet...
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RELIANCE POWER LIMITED CIN : L40101MH1996PLC084687 Registered Office: Reliance Centre, Ground Floor, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai - 400 001. Tel: +91 22 43031000 Website: www.reliancepower.co.in Email : reliancepower.investors@reliancegroupindia.com Statement of Standalone Financial Results for the Quarter Ended June 30, 2026 Quarter ended Sr. Particulars June March June No 30, 2026 31,2026 30, 2025 Unaudited Unaudited Unaudited 1 Revenue from Operations 20 - 51 2 Other income 2,511 2,428 2,341 Total Income 2,531 2,428 2,392 3 Expenses (a) Employee benefits expenses 183 234 161 (b) Finance costs 1,290 1,588 1,515 (c) Depreciation and amortization expenses 18 19 19 (d) Generation, administration and other expenses 720 (154) 507 Total expenses 2,211 1,687 2,202 4 Profit/ (loss) before tax (1+2-3) 320 741 190 5 Income tax expense - - - 6 Profit/ (loss) for the quarter/ year (4+5) 320 741 190 7 Other comprehensive income Items that will not be reclassified to profit or loss (i) Remeasurements of post-employment benefit obligation (net) - (54) - (ii) Changes in fair value of equity instruments in subsidiaries - (1,650) - Other comprehensive loss for the quarter/ year - (1 ,704) - 8 Total comprehensive income/ (loss) for the quarter/ year (6+7) 320 (963 190 9 Paid up equity share capital 4,13,578 4,13,578 4,13,578 10 Other equity (including equity share warrants) 11 Earnings per equity share: (Face value of Rs. 10 each) For continuing operations Basic (Rs.) 0.008 0.018 0.005 Diluted (Rs.) 0.008 0.018 0.005 For discontinuing operation Basic (Rs.) - - - Diluted (Rs.) - - - For continuing and discontinuing operations Basic (Rs.) 0.008 0.018 0.005 Diluted (Rs.) 0.008 0.018 0.005 (EPS for the quarter ended is not annualised) Rs in lakhs Year ended March 31, 2026 Audited 163 10,709 10,872 665 6,346 75 2,449 9,535 1,337 - 1,337 (54) (1,650) (1,704 (367' 4,13,578 5,62,200 0.032 0.032 -- 0.032 0.032
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Notes: 1. The aforesaid standalone financial results of Reliance Power Limited ("the Company") were reviewed by the Audit Committee of the Board and subsequently approved by the Board of Directors of the Company at its meeting held on August 06, 2026. 2. The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures in respect of full financial year and year to date figures up to the third quarter. 3. The standalone financial results of the Company have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the Companies Act, 2013. 4. The Company is engaged in only one Segment viz. 'Generation of Power' and as such there is no separate reportable segment as per Ind AS -108 'Operating Segments'. The Company's operation is predominantly confined to India. 5. Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 information pertaining to debt securities issued by the Company as on June 30, 2026 is Series Ill (2017) Rated, Listed, Redeemable Non-Convertible Debentures aggregating to Rs. 25,000 Lakhs which are outstanding and are secured by the Pledge of shares of subsidiary company owned by the Company. The Company has sufficient asset cover to discharge the principal amount. 6. Disclosures pursuant to Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 for the quarter ended June 30, 2026 are as under: Sr Particulars Quarter Ended (Unaudited) March June March June 31, 2026 30, 2026 31, 2026 30, 2025 (Audited) --A Debenture Redemption Reserve (Rs in lakhs) 4,6_!!3 4,683 4,683 4,683 B Capital Redemption Reserve (Rs in lakhs) C Net Worth excluding Revaluati on Reserve (Rs in 13,96, 165 14,26, 106 14,24,959 14,26,106 lakhs) D Debt Service Coverage Ratio 0.91 1.48 1.13 1.16 E Interest Service Coverage ratio 0.91 1.48 1.13 1.16 F Debt Equity Ratio 0.43 0.42 0.43 0.42 --- G Current Ratio 0.15 0.14 0.16 0.14 H Basic EPS (Rs) 0.008 0.018 0.005 0.032 I Diluted EPS Ratio (Rs) 0.008 0.018 0.005 0.032 -J Net profit/ (loss) after tax (After exceptional item) 320 741 190 1,337 (Rs in la_khs) K Long Term debt to Working Capital Ratio (0.67) (0.67) (0.65) (0.67) L Bad Debts to Account Receivable Ratio M Current Liability Ratio 0.63 0.63 0.65 0.63 N Total Debts to Total Assets Ratio 0.36 0.36 0.36 0.36 0 Debtors Turnover Ratio 0.09 0.52 1.13 -- -p Inventory Turnover Ratio Q Operating Margin (33%) 47% 34% R Ne t Profit Margin 13% 31% 8% 12% (Ratio for the quarter is not annualised)
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Ratios have been computed as under: • Debt Service Coverage Ratio = Earnings before interest, tax, depreciation, other non-cash operating expenses and exceptional items/ (Interest on Long Term and Short-term Debt for the period/year + Principal Repayment of Long -term Debt for the period/ year). • Interest Service Coverage Ratio= Earnings before interest, tax, depreciation, other non-cash operating expenses and exceptional items / Interest on Long Term and Short-term Debt for the period/year. • Debt Equity Ratio = Total Debt / Equity (excluding capital reserve, share based payment reserve and equity instrument measured at fair value through other comprehensive income (FVTOCI) reserve). • Current Ratio = Current Assets/Current Liabilities • Long-term Debts to Working Capital = non-current borrowing including current maturities/working capital excluding current maturities of non-current borrowings • Bad debts to Account Receivable ratio= Bad debts/Average Trade Receivable • Current Liability Ratio = Total Current Liabilities/Total Liabilities • Total Debts to Total Assets= Total Debts/Total Assets • Debtors Turnover Ratio = Revenue from Operation/Average Trade Receivable • Operating margin = Operating Profit/(Loss) / Revenue from operation • Net profit margin = Profit/(Loss) after tax (excluding exceptional items)/Total Income • Basic EPS = Profit/ (loss) after tax/ Weighted average No's of equity shares • Diluted EPS = Profit/ (loss) after tax/ (Weighted average No's of equity shares + outstanding share warrants) 7. The lender of Samalkot Power Limited (SMPL), a subsidiary of the Company, raised a demand amounting to Rs. 1,84, 196 lakhs (including interest), invoking the guarantee agreement executed by the Company. Subsequently, SMPL has initiated arbitration proceedings against the lender and Citibank N.A. (facility agent) before the London Court of International Arbitration ("Arbitration Tribunal"), in accordance with the terms of the Amended and Restated Credit Agreement dated June 28, 2019, read with the marketing agreements executed among, inter alia, the lender, SMPL, and the marketing consultants. The arbitration has been initiated on the ground that no debt was due under the aforesaid agreements. In light of the above, the Company has communicated to the lender and the facility agent that, since the debt has not fallen due and there is no default, the guarantee provided by the Company cannot be invoked. On June 23, 2026, the Arbitration Tribunal issued its partial final award on jurisdiction, holding that it does not have jurisdiction in respect of SMPL's claim. The Arbitration Tribunal expressly confined its decision to the issue of jurisdiction and did not examine or determine the merits of SMPL's substantive claims. Subsequently, on July 30, 2026, the arbitration initiated by SMPL under the marketing agreements was withdrawn. During the quarter ended June 30, 2026, the lender has initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Company and the management is currently evaluating the appropriate legal course of action. Further, SMPL has discharged all interest obligations up to June 30, 2025, and the interest for the period July 2025 to June 30, 2026, has been appropriately provided in the books of account. On June 6, 2026, SMPL entered into an Equipment Sale Agreement with AM Green Energies B.V. for the sale of project equipment pertaining to Module 2 and Module 3 of the 1,508 MW (2 x 754 MW) Combined Cycle Power Plant. The proposed sale is subject to the lender's approval. Upon consummation of the proposed asset monetization transaction and receipt of requisite approvals, the management expects the outstanding lender obligations to be completely addressed. The management has considered the proposed monetization of assets and ongoing discussions with lenders while assessing the
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appropriateness of the going concern assumption. Accordingly, the management believes that, it will be able to realize its assets and discharge its liabilities in the normal course of business. 8. During the quarter ended June 30, 2026, 34,32,00,000 outstanding warrants issued by the Company lapsed on account of non-conversion within the prescribed period of 18 months. Consequently, the amount of Rs. 30,262 lakh received against such warrants has been forfeited. 9. The Company and certain of its officials are subject to investigation by the Enforcement Directorate ("ED") under the Prevention of Money Laundering Act, 2002 ("PMLA"). In connection with the said investigations, the ED has attached certain assets of the Company and its subsidiaries. The Company is contesting the said attachments and is taking necessary legal steps to protect its rights and interests, including filing appropriate petitions before the competent courts and authorities. Based on management's assessment, no provision is considered necessary at this stage and there is no impact on the business operations of the Company. 10. Subsequent to the quarter ended June 30, 2026, the Central Bureau of Investigation (CBI) conducted a search and seizure operation at the Company's registered office premises in connection with the transactions involving Reliance Commercial Finance Limited and Reliance Home Finance Limited. The Company and its officials have fully cooperated with the investigating authority and will continue to do so. There is no impact on the business operations of the Company, and the Company continues to operate its business in the normal course. 11. The figures for the corresponding and previous period/ year have been re-grouped I re-classified wherever necessary, to make them comparable. Date: August 06, 2026 For and on behalf of the Board of Directors ~~ Neeraj Parakh Executive Director, Chief Executive Officer and Chief Financial Officer (DIN: 07002249)
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Pathak H.D. &~ssociates LLP Chartered Accountants Limited Review Report on Standalone Unaudited Financial Results of Reliance Power Limited for the quarter ended June 30, 2026 pursuant to Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To Board of Directors of Reliance Power Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results of Reliance Power Limited ('the Company') for the quarter ended June 30, 2026 ('the Statement') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. Attention is drawn to the fact that the figures for the quarter ended March 31, 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. 2. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors in their meeting held on August 06, 2026, has been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013 ("the Act") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus provides 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 and procedures as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement of standalone unaudited financial results prepared in accordance with applicable Accounting Standards i.e. Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Act read with relevant rules issued thereunder and other recognized accounting practices and policies has nut disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to Note No. 7 of the statement wherein the lender of Samalkot Power Limited (SMPL), a wholly owned subsidiary company, has invoked corporate guarantee against the Company and has demanded payment of the dues which are overdue from the Company. Further, the lender of SMPL has initiated the Corporate Insolvency Resolution Process against the Company under section 7 of the Insolvency and Bankruptcy Code, 2016. The events and conditions indicate that a material uncertainty exists that may cast a significant doubt on the Company's ability to continue as a going concern. However, the standalone financial results of the Company have been prepared as a going concern for the reason stated in the aforesaid note. Our conclusion is not modified in respect of this matter. Regd. Office: 71, 7th Floor, Plot No. 228, Mittal Chamber, Barrister Rajani Patel Road, Nariman Point, Mumbai URL: www.phd.ind.in 03 2839 to 41
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Pathak H.D. & Asso ciateSLLP Chartered Accountants 6. We draw attention Note no. 9 of the Statement wherein the ongoing proceedings initiated by the Enforcement of Directorate (ED) under Prevention of Money Laundering Act, 2002. a search operation was carried out by the ED at the Company's premises in month of July 2025. Further ED has provisionally attached certain assets of the Company and of Reliance Natural Resources Limited (wholly owned subsidiary company), which has been further extended for a period of 365 days by the Adjudicating Authority. Further subsequent to the quarter ended June 30, 2026, ED has provisionally attached receivables in the books of the Company from Sasan Power Limited and receivables in the books of Reliance CleanGen Limited from the Company. The outcome of the proceedings is presently uncertain and cannot be determined at this stage. Our conclusion is not modified in respect of this matter. 7. We draw attention to Note no. 10 of the Statement wherein during the quarter and subsequent to quarter ended June 30, 2026, Central Bureau of Investigation (CBI) conducted a search and seizure operation at the Company and Reliance Cleangen Limited (a wholly owned subsidiary) registered office premises in connection with the transactions involving Reliance Commercial Finance Limited and Reliance Home Finance Limited. As the matter is currently being investigated by CBI and is sub judice, the outcome of the proceedings is presently uncertain and cannot be determined at this stage. Our conclusion is not modified in respect of this matter. 8. During the previous year, the Enforcement Directorate (ED) had initiated the proceedings under Prevention of Money Laundering Act, 2002 and filed a Supplementary Prosecution Complaint against the Company, Rosa Power Supply Company Limited (Rosa), Reliance NU BESS Limited (RNBL) and certain individuals in connection with the fake bank guarantee submitted to Solar Energy Corporation of India (SECI). Further, subsequent to quarter ended June 30, 2026, the Economic Offence Wing (EOW), Delhi also filed a chargesheet against the Company, Rosa, RNBL and certain individual for the fake bank guarantee matter submitted to SECI. ED and EOW have arrested former Executive Director and Chief Financial Officer of the Company under section 19 of the Prevention of Money Laundering Act, 2002 and Bharatiya Nyaya Sanhita, 2023. As the matter is currently being investigated by ED and EOW and is sub judice, the outcome of the proceedings is presently uncertain and cannot be determined at this stage. Our conclusion is not modified in respect of this matter. 9. As disclosed by the Company in the notes to financial statements during the previous year ended March 31, 2026, the Securities and Exchange Board of India had appointed a forensic auditor in connection with alleged violations of the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, and the Companies Act, 2013. The forensic audit is currently ongoing and, therefore, its outcome cannot be determined at this stage. Our conclusion is not modified in respect of this matter. For Pathak H. D. & Associates LLP Chartered Accountants Finn 's Registration No:107783W/W100593 j~ Jigar T. Shah Partner Membership No.: 161851 UDIN: 26161851RBLPUB4227 Date: August 06, 2026 Place: Mumbai Continuation sheet...