DPSC Limited has informed the Exchange about Corporate Insolvency Resolution Process regarding Audited Fianancial Results for year ended 31 03 2026
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India Power Corporation Limited (formerly DPSC Limited) has been admitted into Corporate Insolvency Resolution Process (CIRP) by NCLT Hyderabad Bench effective May 15, 2026. The admission was triggered by a Section 7 application filed by a financial creditor of Meenakshi Energy Limited, to whom the company had given a corporate guarantee. State Bank of India has filed a claim of Rs 50,047.58 lakhs. The Board of Directors stands suspended and management now vests with the Interim Resolution Professional. The company is under moratorium till CIRP completion. For FY 2025-26, standalone results show a net loss of Rs 22,975.79 lakhs (vs profit of Rs 422.45 lakhs previous year), primarily due to an exceptional item of Rs 24,530.87 lakhs from slump sale of non-regulated business. Consolidated net profit stands at Rs 1,281.36 lakhs. No dividend has been recommended for FY 2025-26. Auditors issued qualified opinions citing uncertainty over Rs 19,200.51 lakhs electricity duty and going concern.
This is a highly negative development for shareholders as the company is now under insolvency proceedings with significant debt claims. The stock is likely to face severe pressure as the company navigates CIRP, with potential dilution or cancellation of existing equity under a resolution plan. The qualified auditor opinion and going concern doubts further worsen investor sentiment.