Interim report
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IRCON/SECY/STEX/124 12 th November, 2025 Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015/ सेबी (सूचीबȠता दाियȕ और Ůकटीकरण आवʴकताए ँ ) िविनयम, 2015 का िविनयम 30 Sub: Outcome of Board Meeting held on 12th November, 2025/ 12 नवंबर, 2025 को आयोिजत बोडŊ बैठक का पįरणाम Dear Sir/ Madam, महोदय/महोदया, Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [“SEBI (LODR) Regulations, 2015”], this is to inform that the Board of Directors at its meeting held today i.e., Wednesday, 12th November, 2025 has, inter-alia, considered and approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2025 (These results have been reviewed by the Audit Committee of the Board of Directors at its meeting held on Wednesday, 12th November, 2025). In this regard, this is to submit that during the quarter ended September 30, 2025, a prior period error pertaining to the overstatement of deferred tax assets amounting to ₹ 227.47 Crores as at 31st March 2024 was identified in the financial statement of Chhattisgarh East Railway Limited ("CERL "), joint venture of South Eastern Coalfield Limited, IRCON International limited and Chhattisgarh State Industrial Development holding 64%, 26% and 10% stake respectively. However, in compliance with Ind AS 8 and Ind AS 1, IRCON as a Group has restated its consolidated financial statements from the beginning of the earliest period presented i.e. April 01, 2024 to reflect the impact of the said adjustment on its investment in the joint venture (CERL) and retained earnings, to the extent of its share i.e ₹ 57.57 crores (25.31% of ₹ 227.47 Crores). There is no impact on the Profit and Loss for the current or comparative periods, as the adjustment pertains entirely to the earliest period presented. BSE Limited Listing Dept./ Dept. of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 बीएसई िलिमटेड िलİːंग िवभाग / कॉपŖरेट सेवा िवभाग पी. जे. टावसŊ, दलाल ːŌीट, मुंबई– 400001 Scrip code / ID: 541956 / IRCON National Stock Exchange of India Limited Listing Department Exchange Plaza, Plot no. C-1, G Block, Bandra –Kurla Complex, Bandra (East), Mumbai – 400051 नेशनल ːॉक एƛचŐज ऑफ इंिडया िलिमटेड िलİːंग िवभाग एƛचŐज ɘाजा, ɘॉट नं सी-1, जी ɰॉक, बांūा-क ु लाŊ कॉ̱ɘेƛ, बांūा (पूवŊ), मुंबई-400051 Scrip Code: IRCON
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Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, please find attached herewith the statements showing the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2025 along with the Auditors’ Limited Review Report thereon as Annexure. The Board Meeting commenced at 2:00 P.M. and ended at 4:30 P.M. क ृ पया उपरोƅ जानकारी įरकाडŊ पर लŐ। धɊवाद, भवदीया, (Ůितभा अŤवाल)/ (Pratibha Aggarwal) क ं पनी सिचव एवं अनुपालन अिधकारी/ Company Secretary & Compliance Officer सद˟ता Ţ./ Membership No.: F8874
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p~ Total incomefuun Operations Net profit I C1o&s} {before tax & exceptional items) Net profit I (loss) (before tax & afu:r exceptional itoms) Net profit after tax Profit is attributable to : Owners of the Parent Non ControllinJ! Interest Total comprehensive income :Equi ty slwe oupital Other Equity attributable to Owners of the Parent (Restated) (Excluding Revaluation Reserve) Earnings Per Share (Not annualized) (Face Value oH2/- each) (a) Ba.ic (in f) (ll) Diluted (in f) • Reotated Notes: meON INTERNATIONAL LIMITED (A Government of India Undertaking) Registered Office: C-4, District Centre Sallet, New Delhi-11 0017; Tel: +91-11-26530266; Fax: +91-11-26522000126854000 E-mail: investors@ircon,org; Web.Ite: www.ircon.org; Corporate Identity Number: L45203DLI976GOI008171 EXTRACT OF STANDALONE I CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2025 SWUla!on~ COIllOUdated Qaukr 'auled QlIlll1er ellileil Qu .... u enlfed S.lsmonlll. Sis mundlS Quarlcr euded Sallltl Dlbs ended auled \ · ...... eqded Qumrerukd Quarter Cll:tlttI ended 30 ~pICII)ber. 30 JUJ'e 30 8eptetltbeJ; liD Seplel!!ber 30 &;j\ltmber 3J Marcb lOSeptembtr, 3n JwI II 30 S"epWnhCr, ;aD~~C_11U 2025 ZO.2!i 1014 11125 20 ~ 20.25 21124 (thI. lIdlttd ) (IllUlIIIIUed) (\t n81ldi~) ltlZ 5 2C)l.4 ("\lI d~} (Unal!lllled) (wn.u"I ~) (llball.nttd ) , tillS (Una1ldlladl (Unaudited) (U'1l11ldJted) 1.851.53 1.664.19 2,298.86 3,515.72 4,479.34 10.193.14 1.976.75 1.786.28 2447 .52 3,763.03 226.37 194.55 248.67 420.92 482.98 917.81 172.45 21 1.53 262.34 383.98 226.37 194.55 248.67 420.92 482.98 917.81 172.45 211.53 262.34 383.98 184.67 150.57 202.22 335.24 378.73 737.59 136.51 164.10 205.92 300.61 184.67 150.57 202.22 335.24 378.73 737.59 138.65 164.56 205.95 303.21 - - - - - (2.14) (0.46 (0.03 (2.60 187.82 150.17 201.34 337.99 378.18 743.13 139.67 163.70 .205.02 303.37 188.10 188.10 188.10 188.10 188.10 188.10 188.10 188.10 188.10 188.10 6,049.33 1.96 1.60 2.1S 3.S6 4.03 7.84 1.47 1.75 2.19 3.22 1.96 1.60 2.1S 3.56 4.03 7.84 1.47 L7S 2.19 3.22 (Rs. In <rorej Su.mull"'~ I endQ) V_en ded I ~O Septem~ 3H~I.rch %Il25 2Ul4 ,(A.lIdill!il) (tl lltllldlled) 4,734.65 10.759.58 544.15 939.02 I 544.15 939.02 429.95 727.83 429.97 727.41 .10.02 0.42 429.38 733.32 188.10 188.10 6080.68 • 4.57 7.73 4.57 7.73 I 1. The above standalone and consolidaJ:ed financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 12th November 2025. The Statutory Auditors of the company have conducted limited review of the financial results for the Quarter and half year ended 30th Sept 2025. . 2 The Standalone and consolidaJ:ed financial results have been prepared in accordance with the Indian AccolDlting Standards (lnd AS) as notified under Section 133 of the Companies Act, 2013 reod with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as Amended) and other recognised accounting practices and policies to the extent applicable. The above is an extract of the detailed format of the financial results filed with the Stock Exchange under Regulation 33 of the SEBI «(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The full format of the aforesaid financial results are available on the Stock Exchanges website ofBSE (www.bseindia.com), NSE (www.nseindia.com) and Company's website at WWW.irCOD.Org. 4 Figures for the previous periods I year have been re-grouped / re-classified I re-casted to conform to the classification of the current period I year. Place: New Delhi ~ate: 12th Novembu, 2025
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A FINANCIAL RESULTS IRCON INTERNATIONAL LIMITED (A Government of India Undertaking) Registered Office: C-4, District Centre Saket, New Delhi-116617; Tel: +91-11-26536266; Fax: +91-11-26522666/26854666 E-mail: investors@ircon,org;Website:www_ircon.org; Corporate Identity Number: L45263DL1976GOI668171 STATEMENT OF STANDALONE 1 CONSOLIDATED FlNANCJAL RESu[;TS FOR TIIE QUARLER AND SIX MONTHS ENDED SEPTEMBER 30. 2025 Particulars 1. Income: ---.La) Revenue from operations --.lIJL Other income Totanneome 2. Expenses: .Jhl. Materials and Stores Conswned (b) (Increase) 1 Decrease in WIP .,Lc) Project Expenses (d) Employee benefits expenses (e) Finance costs CD Depreciation. arnorti~ation and impainnent (g) Other expenses iT,tal Expen ... 3. 4. 5. 6, 7. 8. fal (Ill ~) 9. 10. '.'!llil Profit/(Lo.s) from operations before Shan of Profit 1 (Lo.s) of Joint Venture •• Exceptional Items and Ta, (1- 2) Share of Profit 1 (Loss) of Joint Ventures Profit/(Los,) from operations before Exceptional items and lax (3+4) .Exceptional items £N etl Profit 1 (Loss) from o""ration~before Tax t(S + 6) Tax Expense CurrentTnx Taxation in respect of earlier years Deferred Tax Net Profit! (Loss) lor iIu: perlwll .VI'al' (7 -3) Other COlIll"ehensive Income Items that will not be reclassified to Profit aod Loss a)(ii) Income tax relating to items that will not be 'eclassified to Profit and Loss 'blfil ltems that will be reclassified to Ptofit and Loss 'b)(ii) Income tax relating to items that will be recussified to Profit and Loss 11. Thtal Comprehensivelncome!(loss) for tb. perjodlv.ar 12. Profit is attributable to ; .Jal Owners of the Parent (b) Non Controllin Jl lnterest 13. Other COfll!ll'ehensive Income is attributable to : 30.09.2025 (Unaudited) 1, 851.53 175.80 2.027 .33 213_72 1.499.92 59.37 0.43 12. 14 15.38 1,800.96 226.37 226.37 226.37 43.63 0.42 (2.35 184.67 2.74 (0.69) 1.47 (0.37) 187.82 184.67 Standalone Quarter Ended Six Mmonths Ended 30.06.2025 30.09_2024 30.09.2025 30.09.2024 (Unawlited) (Unaudited) (Unaudited) (Unaudited) 1,664. 19 2,298.86 3,515.72 4,479.34 107_16 155_82 282.96 253.19 1.77135 2.454.68 3.798.68 4.732 .53 171.84 159,80 385.56 219.31 7_66 7.63 1.315. 12 1,940.55 2, 815.04 3,831.64 60.70 69.66 120.07 137.78 3.75 2.08 4. 18 4.06 11.46 9.65 23.60 19.20 13.93 16.61 29.31 29.93 1.576.80 2.206 .01 3.377.76 4.249 .55 194.55 248.67 420.92 482.98 194.55 248.67 420.92 482.98 194.55 248.67 420.92 482.98 40.54 49.61 84. 17 109.78 (5.39) (4.97) 0.72 8.83 (3.16) 6.48 (6,25 150,57 202..22 335. 24 378.73 0.27 0.36 3.01 0.68 (0.07) (0.09) (0.76) (0, 17) (0.80 --'.I.54 0.67 (1.42) 0.20 0.39 (0. 17) 036 150.17 201.34 337.99 37818 150.57 202.22 335.24 378.73 Col\l plldat eil VearEnded .Jt.,..rt t r EIIdCll Six Month. Ended 31.03.2025 30.6.9,2025 30.06_2025 36.09.2024 30.09.2025 30.09.2024 (Audited) ..fiInaudited} (Una.udiied) (Unauditedl (Unaudited) I (Unaudit~ 10,193. 14 1.976.75 1.786.28 2,447 .52 3,763.03 4,734.65 484.31 135.43 106.10 91.06 241.53 189.23 10,677.45 2. 112. 18 1.892.38 2.538 .58 4.004.56 4.923.88 663.39 213.72 17I.84 159.80 385.56 219.31 7.66 7,63 8,731.99 1.539,93 1,332.88 1.981.23 2,872.81 3.866.82 256.24 63.90 65.26 74.59 129. 16 147.44 7.41 84,54 75.21 52.71 159,75 100.86 38.25 40.01 37. 15 27.76 77.16 55,23 62.36 18.02 16.41 23.36 34.43 42,06 9.759.64 1.960.12 1,698,75 2,327. 11 3.658.87 4.439.35 917.81 152.06 193.63 211.47 345.69 484 .53 20.39 17.90 50.87 38.29 59.62 917.81 172.45 211.53 262.34 383.98 544.15 917.81 172.45 21.\.53 262.34 383 .98 544. 15 222.35 49.86 47.41 58.70 97.27 128.81 (24.32 0.42 (5.39) (4.97) 0.72 _ U7.81) _ CI4.34 5.41 (2.28) (8.93) (1533 737.59 136.51 164.10 205.92 300.61 429.95 0.69 2.75 0.27 0.34 3.02 0.66 (0.02) (0.69) (0.07) (0.09) (0.76) (0,17) 7.31 1.47 (0.80) (1,54) 0.67 (1.42 (1.84) (0.37) 0.20 0.39 (0. 17) 0.36 743.13 139,67 163.70 205 .02 303.37 429.38 737.59 138.65 164.56 205.95 303.21 429.97 (2. 14) (0046) (0.03) (2.60 (0.02 '(1U. In e rDA) Year Ended , 31.03.2025 (Audited) 10.759.58 371.45 11.131.03 668.16 8,892 .58 275,71 219, 13 117.88 78,32 10.251.78 879.25 59.77 93902 939,02 261.28 (25. 1Ql (24.99 727 .83 0,04 (0.01) 7.30 (1 ,84) 733.32 727.41 0.42 (al Owners ofth~ Parent 3. 15 1 (O.4Oll (0.88)1 2.75 1 (0.55)1 5.541 3.16 1 (OAOll (090 ll 2.76 1 (0.57) 1 5.491 (b) Non ControlllIlJllnterest 14. Total Comprehensive Income is attributable Ito : ral Owners of the P ar=t (b) Non Controlling Interest 15. Paid up Equity Share Capital (Face Value or Rs. 2 per share) 16. Other Equity attributable to Owners of the Farent (Excluding Revaluation Reserve) (As per Audited Balance .sheet) 187.82 150. 17 188. 10 188.10 201.34 188.10 337.99 378. 18 188. \0 I 188. 10 ~~R· / / (!r~ , ~ ~'_ ". ~si). ~. r~/ ~ ~ 743, 13 141.81 164.16 205.05 305.97 429.40 732,90 .,L2.14 ~ (0.03 ~2 , 60 ~0.02 0.42 188. 10 188. 10 188. 10 188. 10 188.10 188.10 188.10 6,049 .33 -~, ~"\ . . :--~ 6080.68 •
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Earniiip Per E.qulty Sll.~ (Fllre VIIIi,f<ifllt, 1 per .frmtfNbt -- -- -- - , 11. Annwillzed\ eft lmi,c fin t'l 1.96 1.60 2.15 3.56 -t03 1;M 1.4'7 1.73 l U ll 3.22 4.5'7 1:73 ~ (b) Dllut.d(In f) U/6 1.60 ~I S 3.$6 .\.(13 1.84 LA1 L7S 2.19 3.22 4.5'1 { .73 1 "Restated Not .. : The above sllmdaione and consolidated fiaancial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 12th November, 202S. The Statutory Auditors of the company have conducted limited review of the financial results for the Quarter and half year ended 30th Sept 2025. 2 The Sllmdalone and consolidated financi~ results have been prepared in accordance with the Indian Accounting Standard. (Ind AS) as notified under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in term. of Regulation 33 of the SEBI (Listing obligations and Di.closure Requirements) Regulations, 2ClS (as Amended) and other recognised accounting practices and policies to the extent applicable, In line with provisions of Ind AS lOS - OterBting Segments, the operations of the Compaoy / Group fall primarily under geographicol infonnation about group of countries, which is considered to be the only reportable segment by maoagement. 4 Ministry of Railways (MoR) vide letter <!.ted IS, 10.2021 had decided in principle for closure of Indian Railway Stations Development Corporation (IRSDC), in which Company has an investment oHS2 Crore, Pursuant to requisite approval of the Board and Shareholders ofIRSDC, the process of voluntary liquidation ofIRSDC has been mitiated. Financial Statements ofIRSDC has been prepared on liquidation basis, As on 30,09,2025, net worth ofIRSDC comes to ~ 241.76 Crores, out of which 26% share i.e. ~62.86 Crores belong to IRCON, Therefore. mooagement does not perceive ooy impairment in the voIue of investment in mDC. 5 Ministry of Railway (MoR) has granted k-principle approval for closure of Bastar Railway Private Limited, a joint venture company and transfer of its assets and liabilities to MoR. The legal formalities, pricing and related modalities are in process. 6 It has been decided to haodover Phase- I (Angul- Balram, 14 KM already operational) ood Phase-II (Balram-Putgadia-TentuloL54 KM under construction)ofMCRL Project to Ministry of Railways (MoR). The legal fonnaJities, pricing aod related modalities are in process aod the Compooy does not foresee ooy impairment in the voIue 0:-investment at this stage. 7 Pursuant to the the Concession Agreeme~ dated 28th September 2005, the toll collection rights of the Ircon - Soma Tollway Private Limited (ISTPL), a Joint Venture Compaoy with 50"10 holding, in which Compaoy has 00 investment oH 63,87 Crore, is scheduled to cease on 21st April, 2026 upon expiry of the concession period. Subsequcmtly, the highway assets shall be handed over to NHAI in accordaoce with the terms of the Concession Agreement. Based on Management assessment and intention to ceose operations upon completion of the concession period, the financials of the Joint Venture company have been prepared on. basis other than going concern. As on 30.09.2025, net worth ofiSTPL comes to ~ 181.53 Crore., out of which 50% share i,e. ~ 90,77 Crores belong to IRCON. Therefore, management does not perceive ooy impairment in the voIue of investment in ISTPL. 8 Dtuing the quarter ended September 30,2)25, a prior period error pertaining to the overstatement of deferred tax assets amounting to ~ 227.47 Crores as at 31st March 2024 was identified in the finoocial statement ofCbhattisgarh East Railway Limited ("CERL"), joint venture of South Eastern Coalfield Limited, IRCON Internationalliuited and Cbhattisgarh State Industrial Development holding 64%, 26% aod 10% stake respectively. However, in compliaoce with Ind AS 8 am Ind AS I, IRCON as a Group has restated its consolidated financial.tatement. from the beginning of the earliest period presented i,e, April 01, 2024 to reflect the impact of the said adjustment on its investment in the joint venture (CERL) and retained earnings, to the extent of its share i,e ~ S757 crores (25.31% of ~ 227.47 Crores). There is no impact on the Profit and Loss for the current or comparative periods, as the adjustment pertains entirely to the earliest period presented, 9 Figures for the previous periods / year haw: been re-grouped / re-classified / re-casted to confonn to the classification of the current period / year. 1'lace: New Delhi Date: 12th November, 2025
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m CON IN1'ERNA T IO NAL LIMITED (A GovemruH II of W in UndtTtnkingi Registered Office: C-4, District Centre Saket, New Delhi-11 0017; Tel: +91-11-16530266; Fax: +91-11-26522000126854000 E-mall: investo rs@ircon ,org; Website: www.lffiI n.org; Corpornte Identi ty Number: L45203DLl976GOI008171 Statement of Standalone and Consolidated segment-wise Revenue, Result, Total Assell and Total Liabllities for tbe Quarter and Six Montbs Ended on September 30, lOlS Standaloue Coalo lid.ted j artiCUlaJ:S Quar:ttr IidJded Six DlolltJu aaded Year Ended QuarmEnded Six DIlInlhS.end«i 1Il.09.201S 30.06.2025 30.09.2024 30.09.2025 30.09.20 %4 31.03.2025 30.1l9.1~Z5 30.06.2025 aO,O\I.202{ 3O.09.l4l"2S 30;119.2014 (Unaadlted) CUalluililtlll Illiiaudlled) (Unaudited) IUlUludited> CAudilt<l) {Ilnaudllecll . (Unaudltedl A (J1naudifedl A cvn.udited) '(UJUludlll!lf) - 1. SOj!ment Reveaue (a) Revenue from Customers International 37.32 28.76 92.83 66.08 175.92 339.10 373 2 28.76 92.83 66.08 175.92 Domestic 1.814.21 1.635.43 2.206.03 3449 .64 4.303.42 9,854.04 1,939.43 1,757.52 2,354.69 3,696.95 4.558.73 (b) Interest Income International 7.26 8.11 7.49 15.37 15.44 26.18 7.26 8.11 7.49 15.37 15.44 Domestic 55.88 64.28 49.12 120.16 116.57 266.43 54.58 63.14 48.13 117.72 115.89 (c) Other Income Intm'llnJ:IQnn\ 51.82 12.63 12.12 64.45 18.60 17.61 52.10 12.64 12.12 64.74 18.60 Domestic 60.83 22.14 87.09 82.97 10UB 174.09 21.49 22.21 23.32 43.70 39.30 Total 1.017.31 1.771.35 2,454.68 3,798.67 4,732.53 10,677.45 1,111.18 1,89.2.38 2,538.58 4.004.56 4913.88 · Les~ : Inter S.~mcnl Revenue 'Net Sala " Total 1n(01l1. 2,O~7.32 J.77U5 2,451Ui.1I 3.798.67 ".'73l.5J 10.677.45 2.112.18 1.1192,38 2.538.58 4.004.56' 4.923.88 2. Stemm I Resulll r rofil Before tax & interest (a) International 57. 12 28.99 31.33 86.11 72.30 90.65 58.00 29.46 31.60 87.46 73.51 (1») Domestic 169.65 169.28 219 .33 338.93 414.41 833.23 198.93 257.20 283.33 456.13 571.09 Less:· (i) Interest (0.40) (J .72) (1.99 (4.12 (3.73) (6.07 (84.48) (75.13) (52.59 (159.6 1) (100.45 (ii) Other Un- allocable expenditure net off - - - - - - - - - (iii) Other Un·allocable Inco~ - . - - - - - . . Toht l Profit befo~ Ib ~31 19'1.55 248.67 420.9l ..f112.98 911.8l 1'72.015 .lIJ.$ 262,31\ ~.98 544.l5 3. Sf1!)Uenl Asse .. (a) International 1.007.34 1.018.71 987.16 1,007.34 987.16 1,052.66 1,007.85 1,019.25 985.71 1.007.85 985.71 (b) Domestic 13393 .85 13.390.55 12,643.38 13,393.85 12.643.38 13,448.28 19,211.42 18,832.08 16,829.22 19,211.42 16,829.22 ToWAutb 14 401.19 14,409.26 13.630.54 I·MOl .19 13.630.5-1 14,sOO.!M l~219.27 J9,8'S1.33 17;814.93 20.219.17 17.814.93 4. Ses:ment Liabiliti es (D) International 839.23 808.57 778.97 839.23 778.97 831.08 831.70 802.11 772.42 831.70 772.42 (b) Domestic 7.103.45 7.213.10 6.823.90 7 .. 103.45 6.823.90 7432.43 12.896.75 12,581.14 10,886.87 12,896.75 10,886.87 TotalbiabllitleJ 1 ,942048 8.021.67 ,,602\8'1 7.94%.68 7.602.87 8263.51. 13.128.45 13,383.25 11.659.29 13..'7211.45 11,ti5U9 • Restated I. The company I Group has reported segment wormati on as per Ind AS J08 "Operating Segments". The operations oflbe Company I Group fall primarily under geographical information about group of countries, which is considered to be th~ only reportable segment by management. 2. Figures for the previous periods I year have b.en re-grouped I re-classified I re-casted to conform to the classification oflbe current period I year. Place: New Delhi Date: 12th November. 2025 (lls. in e rore) I Y"etlr Ended 3t.~.20l5 (4w1iledl," 339.10 10.420.48 26.18 264.15 17.61 63.51 11,131.03 11.t3 1.0~ 92.40 1,064.21 (217.59) - - .'39.02 1.053.19 18,410.52 19.-4113.11 825.46 12.333.87 13.159.33
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IReON INTERNATIONAL LIMITED (A Government of India Undertaking) Registered Office: C-4, District Cenlre Sakel, New Delbi-I10017; Tel: +91-11-26530266; FBI: +91-11-26522000/26854000 E-mail: iDveslors@ircoD,org;Website:www.ircon.org; CorporaleIdentity Number: IA5203DL1976GOI008171 StatemenlS of AsselS Bnd Liabilities Particulars ASSETS N'OIl .. curn.nf aSllcts PrOjle~. J'lant and Equipment Capital Work-in-Pro gress !n.vestmenll'roperty Intangible Assets Iotangihle ~s under Development I Right-of-use Assets Investments accounted for usim~ the equity method Finaadal Asse.s I (i) \n.vestmenls (il) Loans (iii) Other financial assets Deferred !AX ...... (Net) Olb..- non-cumml ....... Total Non-cunent assets C:unY:.at asstu Inventories Financial Assets (i) lnvestments iI) Trade .Reedvabl .. (iii) Cash and cash cquiv4len .. Iv) Othec Bank Balances (v Loans (vi) Other finandal assw Current T .. , AS!(I1'.(Net Other currenl assets Assets held for Sale Tout "'UlT'Wt .'Ie u TOloJAuets EQUITY AND LIABILITIES Equitv Equitv share capital Other <qtilty I Equitv ll1ttibulJlble 10 ownen Non controlline Interest ToW-"'Luitv Liabilities Noo·culTent liabilities Financial Liabilities (I) Borrowinl!S (iil Lease Liabilities (iii) Trade P.""bles - Total Outstanding Dues of Micro Enterprises and Small Enternrises • Total Outstanding Dues of Creditors Other than of Micro Enterprises and Small Enterprises (iv) Other financial liabilities Provisions Other Non-Current Liabilities To'o l Non-cun-enl lloblUties Current liabilities Financial liabilities (i) Borrowinos (ii) Lease Liabilities (iii) Trade payables • Tota1 Outstanding Dues of Micro Enterprises aruI Small Enterprises - Total Outstanding Dues of Creditors Other than gfMicro Enterprises and Small Enterprises (iv) Other financial liabilities Other current liabilities Provisions Current Tax liability_lNel) ToW CwnnLllabllities 'TotafEqu,1y aDd Ulebllill .. * Restated Note :- I'(Ok (i il& ii (i) Includes Clients Fund ofRs 1,282.16 Cror. (31st March, 2025 Place: New Delhi Date: lZth November, Z025 STAND'ALONE OONSOLIDATED AI ~t' Sqlltlllber30, As Ii,lIollrdl JI,ltfZ5 All' Srplmlbe;- 311, AulJlbrcb J 1,2825 .1Iit5 1015 U .... dRedI (AudllBl) (Uuudib!d (AtHlhedl" 230.oz 209 ,22 1.996.24 963,10 22.57 33.66 620 ,06 975.86 540.23 541.98 540.23 541.98 6.60 8.27 871.92 908.08 - 10.88 6.28 62.87 39,64 - 960.82 82815 2.688.3 4 2,444 ,31 - - 241.55 246.16 0.22 0.28 35.37 36.69 3.402 ,24 3.09113 134.68 141.15 153.44 144.51 288.23 273.62 325.83 499.48 4.198.47 3,941.34 8.933.87 7.992.21 113.86 90.51 114.18 90,83 913.02 410.70 913 02 410.70 795_78 1.649.31 746.26 1.328.25 1.868. 14 1.97'-85 2.023,38 2.279 .84 2.18958 2.146.06 2.564.30 2,501.79 32.78 27.54 132 1.57 2.404.56 2.152.70 2.603.55 2,342.21 41.21 89.09 65.00 108.46 1.843.79 2,01584 2.254.39 2.407.85 10.202.72 10,559.60 11.285.40 11,471.50 - 10.202.72 10,559.60 11,285.40 11,471.50 114.401.1.9 14.!\oo''N lWU7 J' ... lil.lI 188.10 188.10 18810 188.10 6.270.41 6,049.33 6,26972 6.080.68 6.458.51 6,237.43 6,457.82 6.268.78 - 3300 35.60 6,458.51 6.237.43 6.490.82 6.304.38 4,94966 4.134.64 257 251 4886 31.92 - - - - - - - - 592 ,98 561.49 644.04 584.62 224 .29 204.78 304 20 258.58 861.27 862.39 877.22 923.28 1,681.11 1,631.17 6.823.98 5,933.04 - - 134.41 129.68 1.26 0.88 462 2.91 5.24 33.71 6.88 34.39 637.46 1,191.18 669.79 1,222.91 2,654.46 2.737 .21 2996 .71 3,023.13 2,718.87 2.396 .69 2818 .96 2.495 ,61 237.46 264.17 25281 301.79 6.82 8.50 20.29 1587 6.261.57 6.632.34 6904.47 7,226.29 1.(,401.19 14.5OIl.94 10.2 19.27 19.4611.71 I n inn.n & Monogin!: D' AI "' Apm 1.202" IRdbtl<d 209.01 548.91 543.07 977.53 - 6.59 806.93 125.19 0.45 2247 .79 119.52 663.47 6,248.46 47.71 563.51 803.33 2,179. 78 2.804.55 0.92 2.010 .65 72.54 2,663.13 11,146.12 11,146.12 I7.3!1US 188.10 5,62525 5,813.35 ]5. 18 5,848.53 2,456.68 2,52 . 777.4 2 221.96 1.069.66 4,528.24 11048 0.72 6,36 88774 3,08756 2,549 .67 JOa. 72 66 .56 7.017.81 1~,J94;!8
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P'!rII ... ,.n CASH FLOW FROM OPERATnolG ACTIVITIES Net Prorit before tamtion Adjustment for: Interest on unwinding oCfinanciai i.struments (Net) Amortisation of financial in.trum .... (Net) Depreciation, amortization and impairment Profit on sale of assets (net) Profit on Sale of Mutual Funds Finance Cost Share in Profit/(Loss) ofIoint Venmes Gain on Changes of Fair Value of!.:lutu.1 Funds Interest Income Dividend Income on Other Investm~nts Dividend Received from loint Ventne Company Reclassification of Exchange GainILoss to Profit and Loss Effect of Exchange differences on tanslation of Foreign Currency Cash & Cash Equivalents Operating Prolit before working ."pita! clumges Adju.lment for: Decrease! (Increase) in T",de Rece.vables Decr .... ! (Increase) in Inventories Decrease! (Increase) in Loans. Oth", Financial Assets & Other Assets (Deer .... ) !lncrease in T18de Payaioles (Decrease) I Increase in Other Liabiities. Financial Liabilities & Provisions Cash generated rrom operation Income Tax Paid NU c:.I.SD.£BOM OPERJUINCI Ml:'Fl\fITI'£S mCON INTERNATIONAL LIMITED Regi.tered Office: C-4, Di.trict Centre Sakel, New Delbi-110017; Tel: +91-11-26530266; Fax: +91-11-26522000/26854000 E-maU: inveoton@lrcon,org; Web.lte: www.ircon.org; Corporate Identity Numbe .... L45203DL1976GOI008171 Statement of Cash Flows S1'A!"ll,u.OI\'Iii Fi>r II •• Sb.mlm!hl.Mod .1'lIrlhe Sli"'D)lIb .... ~ed a~111 Forih. :r~rend¥ 3111 1/111'11),- ~·m\llfll .. l\li{ed JIJlb ,",p~b<ll2M$ ~ll!IIIbe~llIU Mllrth 2.025 MlIII ~t.wIlel. 2Ul!$ (lflll odi,ted) (U",,"dilod) '(Audloed) {UDlltidirlid ) 420.92 482.98 917.81 383.98 (8.29) (7.80) (16.26) (0.02) (0.27) (0.23) (0.37) 0.Q2 23.60 19.20 38.25 77.16 0.21 0.37 (0.04) 0.21 (25.57) (29.90) (49.25) (25.57) 3.38 3.08 5.70 155.75 - - - (38.29) (2.60) 0.53 (1.01) (2.60) (122.85) (99.46) (263.38) (183.07) (63.83) - (39.41) (111.33) - (27.31) (27.31) (48.08) (24.96) (21.66) (48.36) (1) 173.74 279.98 498.46 291.90 853.53 (158.83) (702.85) 581.99 (23.35) (63.62) (47.88) (23.35) (72.72) 210_08 101.90 (414.75) (582.20) (146.90) 370.52 (58Q.63) 423.00 (644.61) (391.49) 438 ,95 (2) 598.26 (803.88) (669.80) 2.21 (1+2) 772.00 (523.90) (171.34) 294.11 (194.17) (33A5) (270.25) (205.59) (Al ~T.13 (551;35) (.t4I.59) . u:g ) "~" o 9 fKl.inUorti] CQNSQhlilAttD :F!I'I"I!ril1.tI~~d;SI/lli · FQI' "'" YelIr ended.JI .J1oM'orcli ~,,"oml;d2\l2.4 · 2Q.~ IUoI.oudHedl {ilDlIlbilj 544.15 939.02 (0.09) 0.10 55.23 117.88 0.37 (0.04) (29.90) (49.25) 99.60 216.63 (59.62) (59.77) 0.53 (1.01) (190.95) (405.91) - - (24.96) (21.65) 394.45 735.91 (219.33) (524.92) (63.62) (43.11) (265.19) (851.72) (146.92) 363.20 (630.57) (482.16) (1,325.63) (1,538.71) (931.18) (802.80) (54,13) (306.73) ('111-<.31) (l,UI!L<;J) ~
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ST ANDJIU.ONE CONSOLIDA:l'E1) hriUuI." 'o. ~Sb 8100l1li f!IIIIoiI F. r"'si. mqntlltGldt\l30th For ~l'e""~.JlJl 11 •• the Siunoad ,n, .. led y ..... Six moDdll....r1!d 30th Jrorlht V .... III.,.,.. 3 b l ~t.tdJ lIhIo $¢p ........ ~OlS ~pI ... l>n< 20%4 ~1a"'lOn ~ SoptemberlOlS sq,comber 10ZA 2075 (Uaaudlted, (lI1I.udll"', (Audited' (tJ ... udIll!d) (o... 1\dilfllj (Andl(Od) CASH FLOW FROM INVESTINC ACI1VlTIES Purchase of Property, Plant and Eqlapment including CWIP (26.11) (14.41 ) (71.30) (501.54) (~68·.00) (1,048 .36) Acquisition of Intangible Assets anc Intangible Assets under Development (1.01) (0.41) (3.7 1) (1,01) (0.41) (3 71) Purchase! Proceeds ofinveslmeni n-operty (0.69) (5 . 2~ (1 1.28) (0.69) (5.24) (1l.28) Sale of Property, Plant and Equipm..,ts & Intangible Assets 0.83 (0.0'1) 0.96 0.88 (0.09) 0.98 Sale of Mutua! Funds 6,153.86 6,218 .65 10.631.21 6,153.86 6,218 .65 10,631.21 Purchase of Mutual Fund (6,653.01) (6.631.82) (10,304 45) (6.653.01) (6,631.82) (10,304.45) Sale of Government Security LSI LSI - 1.51 1.51 Loan to Subsidiaries 0.02 (I S.57) (16.63) - - Repo.yment of Loan from Subsidiari", and Ns 7.33 74.58 - Interest Received 116.98 108.62 275.85 182.15 200.47 421.72 Dividend Received from Joint Ventwe Company 39.41 63.83 111.33 34.50 57.50 102.50 Investment in Subsidiaries & Joint Yentures (244.06) (179.90) (293.57) (128,88) (41.84) (63.96) Redemption of Bonds 25.00 - - 25.00 - Bonk & Ianc. 0 111 .. !bon C .. h lUId Cash .EauivolenlS· (58.49) 488.41 454.20 (77.52) 428.24 305.76 mrr ~ FROlIllN VES'I1NG 4crrvnu:s (8). (6)9094) ¥.'411 114-"0 ('>611.26) 1347.i1;J) J I.$ia CASH FLOW FROM FINANCING ACTIVITIES Proceeds From Borrowings - - 1,214.97 859.18 2.156 .00 Repo.yment of Borrowings - (395.22) (6) ,9 1) (458.85) Payment of Lease liabilities (6.02) (0.57) (1,00) (7.71) (1.0.2) (1.83) Finance Cost Paid (0.05) (0.33) (1.34) (14'1.49) (119.51) (261.82) Final Dividend po.id (94.05) (1 22.27) (1 2U7) (94.0;;) (122.27) (122 .27) Interim Dividend po.id - (155.19) - - (155.19) PAyment ofF .. for increose in Aul11~ri .. dlPllid ~p Shs", C.pilal - - (0.02) - (0,02) NET W Rl\RO I\l.E1NANCJNG ACJ"IVmES (e) (100.12) (123..17) (179.10 ) S61:47 !l5M1 .,,166.02 Efli:cl of Exr:hanS' dilT""",,,,,, on Iml.lation of Foreign Currency Cash & Cash (D) 52.52 24,96 21.66 52.81 %4.96 21.65 ! Eouival.n .. NET INCRE)\S!i]{ (DECKEASEf!N aASII." €ASK EQUIVALENTS (MB+C+D) (109.71) (614.09) 14Il.97 1lS6.~6) ( ~54.9 1) I4W.06 CASH AND CASH EQUIV ALENI'S (OPENING) (E) 1,977.85 1,828.88 1,828.88 2,279.84 2,179.78 2,179 .781 CASH AND CASH EQUIVALENI'S (CLOSING) (F) 1,868.14 1,203.89 1,977 .85 2,023.38 1,424.87 2,279 .84 NE'l' 1N CRl\A~, I, (IfIlc:::RllAS£} 1N CASH" CASR-JiQmY ALEN'J'$ (F oE) (Ui9.71) (624.99) NU7 1~..c6) (75<1.91) Joo.96 : 1. The above Cash flow StatemenllBs been prepared under the "Indirect Method" as .. t out in the Indian Accounting Sumdllfd (Ind AS) - ~ on Statement o(c .. hPlowl. 2. Figures for the previous year! permd have been reagrouped I c&Classified I re-casted to conform to the cla5Sification of the current year/period. 3. Figures in bracket 0 represenlll o\."1flow of cash PI.",,: N ... D.1b1 Date.: 12th November, 2025
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S.No. B C Requiremen t IRCON INTERNATIONAL LIMITED (A Government of India Undertaking) Registered Office: C-4, District Centre Saket, New Delhi-110017; Tel: +91-11-26530266; Fax: +91-11-26522000/26854000 E-mail: investors@ircon,org; Website: www.ircon.org; Corporate Identity Number: L45203DL1976GOI008171 Other Information - Integrated Filing (Financial) - For Six Months Ended on September 30, 2025 Statement of Deviation or Variation for Proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement etc. Disclosure of outstanding default on loans and debt securities Remarks Not Applicable Not Applicable D Format for disclosure of Related Party Transactions (applicable only for half- yearly filings) Will be filed separately in XBRL Fonnat D Statement on impact of Audit Qualifications (For Audit Report with Modified Opinion) Submitted along with annual audited financial Not Applicable results - (Standalone and Consolidated separately) (applicable only for annual filing i.e. 4th quarter) -- --- - Place: New Delhi Date: 12th November, 2025
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~Eillaoo@@[h) © ~~mID\YAYJ®~ ~ ©@o Chartered Accountants CA IN DIA Independent Auditors' Limited Review Report on Standalone Unaudited Financial Results for the Quarter and Half Year ended September 30, 2025 of Ireon International Limited. To The Board of Directors Ireon International Limited New Delhi 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results and Notes to the Statement of Standalone Unaudited Financial Results of Ireon International Limited ("the Company") for the Quarter and Half Year ended September 30, 2025 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Regulation") as amended. 2. We have reviewed the Financial Results of the three (3) foreign branches situated at South Africa, Malaysia and Sri Lanka (Indian part) for the quarter and half year ended September 30, 2025. However, we have not visited any foreign branch and the relevant information for the review purpose was provided to us by the management at corporate level. 3. The Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recogni'tion and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34), prescribed under section 133 ofthe Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review. 4. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" and also considering the requirement of Standard on Auditing (SA 600) on "Using the work of Another Auditor", issued by The Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making enquires, primarily of persons responsible for financial and accounting matters and applying an analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do 110t expre33 811 8udit opil1ion. (-25 Second Floor, Soami Nagar, North Panchsheel Enclave, New Delhi - 110017 Mob.: 9415217109,9415216562· E-mail: info@rcagrawal.com.rca123@gmail.com Offices: Prayagraj • Mumbai • Ghaziabad
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~@[M)@~[fu © ~®(J@~@~ ~ ©@o Chartered Accountants CA INDIA 5. Based on our review conducted and procedures performed as stated in Para 4 above and based on the consideration of the review reports of the branch auditors / other auditors referred to in paragraph 7.1 to 7.2 below, nothing has come to our attention that causes us to believe that the accompanying Statement read with notes thereon, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation, including the manner in which it is to be disclosed or that it contains any material misstatement. 6. Emphasis of Matter (a) Note no. 4 of the Statement wherein it has been stated that financial statements of one of the jointly controlled entities i.e. Indian Railway Stations Development Corporation Ltd. (IRSDC) have been prepared on liquidation basis and that the Company does not foresee any impairment in the value of investment held by it in IRSDC. (b) Note no. 7 of the Statement regarding preparation offinancial statements of Ircon-Soma Tollway Private Limited (Joint Venture Company) on a basis other than going concern and the Company does not foresee any impairment in its investment value. Our opinion is not modified in respect of that above matters. Other Matters 7.1 We did not review the Interim Financial Result/Information of 4 (four) foreign branches whose results reflect total assets of Rs. 860.43 crores as at September 30,2025, total revenue of Rs. 124.35 crores, total net profit after tax of Rs. 69.59 crores and total comprehensive income of Rs. 67.78 crores for the half year ended September 30, 2025. The Interim Financial Result/Information of these branches have been reviewed by the branch auditors whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these branches is based solely on the reports of such branch auditors and the procedures performed by us as stated in paragraph 4 above. C-25 Second Floor, Soami Nagar, North Panchsheel Enclave, New Delhi - 110017 Mob.: 9415217109, 9415216562· E-mail: info@rcagrawal.com.rca123@gmail.com Offices: Prayagraj • Mumbai • Ghaziabad
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· ~@Uffi)@©[hj © ~~mID~EID~ @ ©@o CA Chartered Accountants INDIA 7.2 The Financial Statements include Profit/ (loss) Rs. 0.01 crores, the Company's share in three integrated joint operations (unincorporated) accounts of which have been certified by the other firm of Chartered Accountants and profit (loss) of Rs. 0.48 crores, the Company's share in one joint operation certified by the management for the half year ended September 30, 2025. Our conclusion on the Statement is not modified in respect of the above matters. For Ramesh C Agrawal and Company Chartered Accountant No:001770C ner Membership No: 072867 UDIN: ~S07J.~61 BrvlOCMbG18G Place: New Delhi Date: November 12, 2025 C-25 Second Floor, Soami Nagar, North Panchsheel Enclave, New Delhi - 110017 Mob.: 9415217109, 9415216562· E-mail: info@rcagrawal.com.rca123@gmail.com Offices: Prayagraj • Mumbai • Ghaziabad
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' ~@[MJ@®G1J © ~@[fcill~@~ ~ ©@o Chartered Accountants CAt IN DIA Independent Auditors' Limited Review Report on Consolidated Unaudited Financial Results for the Quarter and Half Year ended September 30, 2025 of Ircon International Limited. To The Board of Directors Ircon International Limited New Delhi 1 We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Ircon International Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its joint ventures for the Quarter and Half Year ended September 30, 2025 ("the Statement") attached herewith, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (lithe Regulation") as amended. 2 The Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" and also considering the requirement of Standard on Auditing (SA 600) on "Using the Work of Another Auditor", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of Interim Financial Information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Regulation to the extent applicable. c,.AGn?;':., 0' 1(- .~ 4=- C;.:.O 1 .»,...... B (-25 Second Floor, Soami Nagar, North Panchsheel Enclave, New Delhi - 11 0017 ob.: 9415217109, 9415216562· E-mail: info@rcagrawal.com.rca123@gmail.com Offices: Prayagraj • Mumbai • Ghaziabad
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~@[M)®®[}D © ~®[J@W@~ ~ ©@o Chartered Accountants CA IN D IA 4. The Statement includes the results of the following entities: S.No. Name of Company Relations A Ircon Infrastructure and Services Limited Subsidiary B Ircon PB Tollway Limited Subsidiary C Ircon Davanagere Haveri Highway Limited Subsidiary D Ircon Shivpuri Guna Tollway Limited Subsidiary E Ircon Vadodara Kim Expressway Limited Subsidiary F Ircon Gurgaon Rewari Highway Limited Subsidiary G Ircon Akloli-Shirsad Expressway Limited Subsidiary H Ircon Ludhiana Rupnagar Highway Limited Subsidiary I Ircon Bhoj Morbe Expressway Limited Subsidiary J Ircon Haridwar Bypass Limited Subsidiary K Ircon Renewable Power Limited Subsidiary L Ircon-Soma Tollway Private Limited Joint Venture M Indian Railway Stations Development Corporation Limited Joint Venture N Bastar Railways Private Limited Joint Venture 0 Jharkhand Central Railway Limited Joint Venture P Mahanadi Coal Railway Limited Joint Venture Q Chhattisgarh East-West Railway Limited Joint Venture R Chhattisgarh East Railway Limited Joint Venture S. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, read with notes thereon, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles g~nerally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation including the manner in which it is to be disclosed or that it contains any material misstatement . 6. Emphasis of Matter (a) Note No.4 ofthe Statement wherein it has been stated that financial statements of one of the jointly controlled entities i.e. Indian Railway Station Development Corporation Ltd. (IRSDC) have been prepared on liquidation basis and that the Parent does not foresee any impairment in the value of investment held by it in IRSDC. (b) Note no. 7 of the Statement regarding preparation of financial statements of Ircon-Soma Tollway Private Limited (Joint Venture Company) on a basis other than going concern and G. PoC/(" I~ the Parent does not foresee any impairment in its investment value. ~ '.,. ~ (-25 Second Floor, Soami Nagar, North Panchsheel Enclave, New Delhi - 110017 Mob.: 9415217109, 9415216562· E-mail: info@rcagrawal.com.rca123@gmail.com Offices: Prayagraj • Mumbai • Ghaziabad
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.~®[M)®®(fu © ~®[f@~EID~ ~ ©@o Chartered Accountants CA IN 0 IA (c) Note no. 8 of the Statement regarding restatement in the figures of Chhattisgarh East Railway Limited (Joint Venture Company) in compliance to Ind AS 8 and Ind AS 1. Our opinion is not modified in respect of the above matters. Other Matters 7. We did not review the Interim Financial Information of 11 (eleven) Subsidiaries included in the Consolidated Unaudited Financial Results, whose Standalone Unaudited Interim Financial Information reflect total assets of Rs. 8467.58 crores as at September 30,2025, total revenues of Rs. 861.02 crores, total net profit/(Ioss) after tax of Rs. (27.76) crores and total comprehensive income (net) of Rs -27.75 crores, for the half year ended September 30, 2025 respectively. The Consolidated Unaudited Financial Results also include the Group's share of total net profit /(Ioss) after tax of Rs.38.28 crores, for the half year ended September 30,2025, as considered in the Statement, in respect of seven Joint Ventures, whose Interim Financial Information have not been reviewed by us. This Interim Financial Information of five Joint Ventures has been reviewed by other Auditors whose reports have been furnished to us by the Parent's Management and for the remaining two Joint Venture the figures have been certified by Management ofthe Joint Venture. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these Subsidiaries and Joint Ventures, is based solely on the reports of the other Auditors and figures furnished to us by the Management and the procedures performed by us as stated in Paragraph 3 above. Our conclusion on the statement is not modified in respect of the above matters. For Ramesh C Agrawal & Company Chartered Accountants 0:001770C (C UDIN: J5"Of~g61 E>MOC.M£ 11.3.Q.... Place: New Delhi Date: November 12, 2025 (-25 Second Floor, Soami Nagar; North Panchsheel Enclave, New Delhi - 110017 Mob.: 9415217109, 9415216562· E-mail : info@rcagrawal.com.rca123@gmail.com Offices: Prayagraj • Mumbai • Ghaziabad