The Exchange had sought clarification from Reliance Infrastructure Limited for the quarter ended 31-Dec-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Limited Review Report/ Independent Auditor's Report is not in the format prescribed by SEBI. The response of the Company is enclosed.
RELINFRA · price
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Reliance Infrastructure submitted its Q3 and nine-month FY26 financial results (ended December 31, 2025) on January 31, 2026. The NSE pointed out that the Standalone Limited Review Report was not in the format prescribed by SEBI. The Company clarified that this was a typographical error — the signing date had been mistakenly written as '2025' instead of '2026' — and submitted a revised report with the corrected date. The Company stated the typo has no impact on the actual financial results. However, the enclosed auditor's review report itself is a disclaimer of conclusion, flagging serious issues: an exposure of Rs 4,748.11 crore to Odisha Discoms with uncertain recovery, ongoing ED, SEBI Show Cause Notice and SFIO proceedings, the auditor filing an ADT-4 with MCA on January 19, 2026 and tendering resignation after the FY26 audit, a going-concern doubt due to lender obligations, and a Scheme of Arrangement with Reliance Velocity Limited that shifted Rs 18,142.17 crore within reserves.
While the exchange clarification itself is a minor procedural fix, the auditor's report underneath it is highly concerning for shareholders — it highlights regulatory investigations, a Rs 4,748 crore exposure with doubtful recovery, going-concern uncertainty, and the statutory auditor's decision to resign after FY26, all of which represent significant material risks for the stock.