Reliance Infrastructure Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Reliance Infrastructure reported FY26 consolidated total income of Rs 20,862 crore, down 13% from Rs 23,999 crore in FY25. Net profit attributable to owners fell to Rs 2,900 crore from Rs 4,938 crore — a 41% decline. Before regulatory income, the company posted a loss of Rs 1,701 crore. The auditors (Chaturvedi & Shah LLP) issued a DISCLAIMER OF OPINION citing: suspected fraud allegations involving CLE Private Limited (under ED, SEBI and SFIO scrutiny), uncertainty over Rs 4,706 crore of exposures, and going concern doubts at six subsidiaries including Mumbai Metro One (negative net worth of Rs 3,957 crore with NCLT/DRT proceedings by lenders). Exceptional items were Rs 1,033 crore net for the year. The company also replaced its statutory auditor with Paresh Rakesh & Associates LLP and seeks shareholder approval to raise up to Rs 3,000 crore via equity placement.
The disclaimer of opinion is a serious red flag — it means auditors could not certify the financial statements due to fraud investigations and subsidiary distress. Combined with revenue decline and ongoing regulatory probes, shareholders face elevated risk. The Rs 3,000 crore fund raise proposal signals potential liquidity needs. The stock could face significant negative sentiment.