IMP Powers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Awaiting price reaction for this filing.
IMP Powers Limited reported FY2026 standalone revenue of Rs. 3438.20 lakhs (vs Rs. 1527.72 lakhs previous year) and net profit of Rs. 11.01 lakhs (vs loss of Rs. 208.40 lakhs). The company emerged from Corporate Insolvency Resolution Process (CIRP) and liquidation — sold to Electrify Energy Pvt Ltd in consortium with Rakesh R Shah for Rs. 78 crore. New management took control in November 2024. Auditors BJS and Associates issued a qualified opinion citing: failure to recognize expected credit loss on Rs. 39.86 crore trade receivables outstanding since pre-CIRP period; inability to substantiate bank balances and other current assets; non-completion of asset impairment assessment despite prolonged production suspension; pending NCLT distribution order for creditor payments; non-compliance with Ind AS 12 (deferred tax), Ind AS 36 (impairment), and Ind AS 19 (actuarial valuation). Management states verification of inherited balances is in progress. Company carries negative other equity of Rs. -2785.03 lakhs and borrowings of Rs. 25527.88 lakhs.
The qualified audit opinion with multiple non-compliances with accounting standards indicates material uncertainty around asset values and liabilities. Despite return to profitability, the stock carries significant audit risk given unresolved receivables, pending legal disputes (STCI Finance vs Supreme Court), and incomplete balance sheet verification from pre-insolvency period.