IL&FS Investment Managers Limited has submitted to the Exchange, the Audited Consolidated financial results for the period ended March 31, 2026.
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IL&FS Investment Managers Limited reported total consolidated revenue of Rs. 6,553.18 lakhs for FY2026, up 40.5% from Rs. 4,663.97 lakhs in FY2025. However, profit after tax declined significantly to Rs. 468.97 lakhs from Rs. 1,413.12 lakhs in the prior year. The auditors issued a Qualified Opinion citing multiple concerns: ongoing SFIO investigation against the IL&FS group (8th consecutive qualification), unbilled revenue of Rs. 1,036.61 lakhs with uncertainty over recoverability, and a subsidiary not recognizing provisions for penalties, CFO appointment delay, and gratuity obligations. The auditors also highlighted material uncertainty about the group's ability to continue as a going concern as existing fund management tenures have ended with no new fund raises. The company wrote off Rs. 921.02 lakhs of unbilled revenue during the year. The IL&FS Board is working on a resolution plan including sale of the company's stake via an Expression of Interest process.
The qualified audit opinion, going concern uncertainty, and declining profitability despite higher revenue signal significant financial stress. Shareholders should be cautious as the company's core fund management business has largely wound down, and ongoing regulatory investigations create uncertainty over future liabilities.