Jaiprakash Power Ventures532627Board key decisions

Board approves Q2 FY27 results; Ravi Kapoor, Jigar Dalal and Paresh Patel appointed

Board approved Q2/H1 FY27 results and three appointments: Ravi Kapoor as Independent Director (from 19 Oct 2026, subject to shareholder approval).

By ScoutQuest · Mon 19 Oct 2026, 8:17 PM IST · 2 min read

Revenue from operations (Q2, standalone): Rs. 1,51,212 lakhs
Net profit (Q2 / H1, standalone): Rs. 3,331 lakhs for the quarter and Rs. 50,226 lakhs for the half year
Exceptional items in quarter (NARCL settlement): Rs. 51,100 lakhs (Rs. 511.00 crores)

Mr. Ravi Kapoor (DIN: 00003847) appointed as an Independent Director of the company, with effect from 19th October 2026, subject to the approval of the shareholders.
Mr. Jigar Dalal appointed as the Chief Financial Officer (Key Managerial Personnel), with effect from 1st November 2026.
Mr. Paresh Patel appointed as the Company Secretary and Compliance Officer (Key Managerial Personnel), with effect from 1st December 2026.
From 1st December 2026, the Key Managerial Personnel authorised to determine the materiality of events and make disclosures are Mr. Savan Patel (Whole-time Director), Mr. Jigar Dalal (CFO) and Mr. Paresh Patel (Company Secretary and Compliance Officer).

Revenue from operations: Rs. 1,51,212 lakhs for the quarter ended 30th September 2026.
Net profit: Rs. 3,331 lakhs for the quarter and Rs. 50,226 lakhs for the six months ended 30th September 2026.
The quarter includes exceptional items of Rs. 51,100 lakhs, which the notes describe as the Rs. 511.00 crores provided towards a settlement with NARCL.
The Board also approved the consolidated results; the figures above are the standalone ones.

The limited review report carries a qualified conclusion. Attention is drawn to non-provisioning against a recompense claim of Rs. 5,69,651 lakhs claimed by the lenders, with ICICI Bank as lead. The company has challenged the amount and informed the bank that, in management's view, nothing is payable as on 30th September 2026.
An emphasis of matter refers to show cause and demand notices served by the Department of Mines and Geology for Rs. 8,57,342 lakhs over alleged illegal extraction and sale of sand. Management states the demands are without cogent basis and that no provision is considered necessary.

The company had made an offer to NARCL to settle a claim, subject to terms and conditions including withdrawal of proceedings upon payment, and NARCL has accepted it.
The agreed amount is Rs. 511.00 crores as full and final payment, subject to fulfilment of other conditions and execution of definitive agreements; the proceedings are to stand withdrawn once the settlement terms are fulfilled.

The company has opted for the new tax regime under Section 200 of the Income-tax Act, 2025 from FY 2026-27, and the MAT credit entitlement of Rs. 140.78 crores has been reinstated.

This single board meeting covered three things at once: two key managerial appointments plus an independent director, the September-quarter numbers, and a one-time settlement charge.
The Rs. 511.00 crores settlement provision sits inside the quarter's Rs. 51,100 lakhs of exceptional items, so the reported quarterly profit of Rs. 3,331 lakhs is the number after that charge.
The auditor's qualified conclusion and the large sand-mining notices are the two items that draw comment in the review report; the company's stated position on both is that no provision is required.

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