IL&FS Investment Managers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
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IL&FS Investment Managers Limited (IIML) submitted its audited consolidated results for FY25 and Q4 FY25. Total revenue fell sharply to Rs 4,663.97 lakhs in FY25 from Rs 6,641.75 lakhs in FY24, a drop of about 30%, while revenue from operations alone declined roughly 44% (Rs 2,907.57 lakhs vs Rs 5,192.39 lakhs). Despite this, consolidated profit after tax rose modestly to Rs 1,413.12 lakhs from Rs 1,204.58 lakhs, helped by lower expenses and tax benefits. Operating cash flow remained negative at Rs (889.68) lakhs versus Rs (610.34) lakhs last year. The auditor (KKC & Associates LLP) issued a qualified opinion with a material uncertainty flag on going concern, citing reduced fee income, lack of new fund raises, and the ongoing SFIO investigation into parent IL&FS. The Board also appointed Mehta & Mehta as Secretarial Auditors for 5 years, and noted that IL&FS is still working on a resolution plan including possible sale of its entire stake in IIML.
Shareholders should note the qualified audit, the going-concern uncertainty, and the steep revenue decline, all of which are negative signals for the stock. The potential sale of IL&FS's stake in the company could lead to a change in ownership, which may be material for shareholders. Cash burn continues and the resolution process is still in progress, keeping risk elevated.