Declaration of Results.
Awaiting price reaction for this filing.
Jaiprakash Associates reported Q1 FY26 standalone revenue from operations of ₹667.82 crore, down ~36% from ₹1,043.61 crore in Q1 FY25. The company posted a standalone net loss of ₹203.39 crore (vs loss of ₹1,080.34 crore in Q1 FY25, which included a large exceptional charge). On a consolidated basis, revenue fell to ₹672.42 crore from ₹1,821.13 crore due to deconsolidation of subsidiary JCCL which itself entered CIRP; consolidated net profit swung to ₹240.29 crore from a loss of ₹1,023.44 crore, helped by a ₹460.11 crore exceptional gain. Net worth remains deeply negative at ₹(7,107.13) crore and debt-equity ratio is (20.63) times. The company continues to operate under CIRP since June 2024 with Mr. Bhuvan Madan as Resolution Professional; 5 resolution plans are under evaluation. Multiple large contingencies persist: CCI penalties (~₹1,361.62 crore), YEIDA land cancellation dispute, Mandla coal mine issues, and ₹2,375.20 crore of disputed trade receivables.
Shares remain under insolvency resolution — the Resolution Professional is in control, and any recovery for equity holders depends entirely on the outcome of the CIRP process and the resolution plan approved by creditors. Standalone operations are loss-making with collapsing top-line and deeply negative net worth, signalling extreme financial distress with no near-term turnaround visible.