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PTC India Ltd Audit Report / Information 2026
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Audit Report / Information
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PTC India
Date: 19th May, 2026
Listing Deptt. / Deptt. of Corporate Relations
BSE Limited
Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai
Scrip Code: 532524
Listing Deptt.
National Stock Exchange of India Limited
Exchange Plaza, C-1, Block G
Bandra – Kurla Complex, Bandra (E), Mumbai -51
Company Code: PTC
Dear Sir/ Madam,
Subject: Outcome of Board Meeting dated 19th May, 2026 under Regulation 30 and 33 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)
This is to inform that the Board of Directors of PTC India Limited in its meeting held today i.e. 19th May, 2026 has considered, approved and taken on record the followings:
- Audited Financial Results (Standalone and Consolidated) along with the audit report of the Statutory Auditor of the Company for the Quarter and Financial Year ended on 31st March 2026. Copy of Audited Financial Results along with audit report is enclosed.
Further, we do hereby declare and confirm that the Audit Report issued by M/s. T R Chadha & Co LLP Statutory Auditors of the Company on Audited Standalone & Consolidated Financial Results for the Financial year ended 31st March, 2026 are with unmodified opinion.
- Recommended a Final dividend @ 55% i.e. Rs. 5.5/- per share for the financial year ended 31st March, 2026, to the shareholders for their approval.
The 'Record Date' for the purpose of ascertaining the eligibility of shareholders for payment of aforesaid Final Dividend, shall be intimated separately in compliance with the provisions of SEBI Listing Regulations. The Final Dividend, if approved by the shareholder at the ensuing Annual General Meeting, shall be paid within the statutory timelines.
The Board Meeting commenced at 4.00 p.m. and concluded at 6.00 p.m.
The above information will also be hosted on the website of the Company www.ptcindia.com.
You are requested to take the same on record.
Thanking You,
For PTC India Limited
RAJIV KUMAR
Digitally signed by RAJIV KUMAR MAHESHWARI
MAHESHWARI
Date: 2026.05.19 18:31:48
1/27/20
Rajiv Maheshwari
(Company Secretary)
FCS- 4998
Enclosures: as above
PTC India Limited
(Formerly known as Power Trading Corporation of India Limited)
CIN: L40105DL1999PLC099328
2nd Floor, NBCC Tower, 15 Bhikaji Cama Place New Delhi - 110 066 Tel: 011- 41659500, 41595100, 46484200, Fax: 011-41659144
E-mail: [email protected] Website: www.ptcindia.com
CA
INDIA
T R Chadha & Co LLP
Chartered Accountants
Great Place to Work: Certified
Independent Auditor's Report on Quarterly and Year to Date Standalone Financial Results of PTC India Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To
The Board of Directors
PTC India Limited
Opinion
-
We have audited the accompanying statement of standalone financial results of PTC India Limited (the Company) for the quarter and year ended March 31, 2026 ("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, as amended ("the Listing Regulations").
-
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
(i) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
(ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India, of the net profit and other comprehensive Income and other financial information of the Company for the quarter and year ended March 31, 2026.
Basis of Opinion
- We conducted our audit in accordance with the Standards on Auditing (SA) specified under Section 143(10) of the Companies Act 2013 as amended ("the Act"). Our responsibilities under those Standards are further described in "Auditor's Responsibilities for the Audit of Standalone Financial Results" section of the report below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Act and the rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on these standalone financial results.
Management's Responsibility for the Standalone Financial Results
- This Statement, has been prepared on the basis of standalone financial statements for the year ended March 31, 2026. The Company's Management and Board of Directors are responsible for preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
T R Chadha & Co LLP, A limited liability partnership with LLP Identification No. AAF-3926
Noida Branch Office: Plot No. B-13, First Floor, Sector-1, Noida- 201301, Gautam Budh Nagar (U.P.) | Ph: +91 120 4499900 E-mail: [email protected];
Corporate/ Regd. Office: B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 | Ph: +91 011 43259900 | E-mail: [email protected]
Offices: Ahmedabad | Bengaluru | Chennai | Gurugram | Hyderabad | Mumbai | New Delhi | Noida | Pune | Tirupati | Vadodara
www.trchadha.com
-
In preparing the Statement, the Management and Board of Directors of the Company are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
-
The Board of Directors are also responsible for overseeing the financial reporting process of the Company.
Auditor's Responsibility for the Audit of Standalone Financial Results
-
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
-
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion, through a separate report on the complete set of financial statements, on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
-
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
-
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
T R Chadha & Co LLP,
A limited liability partnership with LLP Identification No. AAF-3926
T R Chadha & Co LLP,
A limited liability partnership with LLP Identification No. AAF-3926
Other Matters
- The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of full financial year ended March 31, 2026 and the published unaudited year to date figures up to the third quarter of the current financial year which were subjected to a limited review by us, as required under the Listing Regulations.
Our opinion on the standalone financial results of the Company is not modified in respect of abovementioned matter.
For T R Chadha & Co LLP
Chartered Accountants
Firm's Registration No. 006711N/N500028
HITESH GARG
Digitally signed by HITESH GARG
Date: 2026.05.19 17:59:58
+05'30"
Hitesh Garg
Partner
Membership No. 502955
Place: New Delhi
Date: May 19, 2026
UDIN: 26502955PEXKPR9443
Page 3 of 3
PTC INDIA LIMITED
Registered Office:2nd Floor, NBCC Tower, 15 Bhikaji Cama Place New Delhi - 110 066 (CIN : L40105DL1999PLC099328)
Tel: 011- 41659500, 41595100, 46484200, Fax: 011-41659144, E-mail: [email protected] Website: www.ptcindia.com
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
(Figures in ₹ Lakhs, unless otherwise indicated)
| S. No. | Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|---|
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||
| Audited (Refer Note No.8) | (Un-audited) | Audited (Refer Note No.8) | Audited | Audited | ||
| 1 | Revenue from operations | |||||
| a | Revenue from operations | 3,76,663 | 3,27,283 | 2,75,732 | 16,21,165 | 14,99,952 |
| b | Other operating revenue (Refer Note No. 6(a)) | 1,181 | 1,080 | 1,645 | 4,457 | 5,035 |
| Total revenue from operations (Refer Note No.3) | 3,77,844 | 3,28,363 | 2,77,377 | 16,25,622 | 15,04,987 | |
| 2 | Other Income (Refer Note No. 5 & 6) | 7,458 | 6,911 | 10,228 | 36,360 | 59,465 |
| 3 | Total Income (1+2) | 3,85,302 | 3,35,274 | 2,87,605 | 16,61,982 | 15,64,452 |
| 4 | Expenses | |||||
| a | Purchases | 3,66,261 | 3,19,497 | 2,67,666 | 15,80,365 | 14,59,950 |
| b | Operating expenses (Refer Note No. 6(a)) | 255 | 150 | 672 | 639 | 1,204 |
| c | Employee benefit expenses (Refer Note No. 7(a)) | 1,559 | 1,714 | 1,563 | 6,739 | 6,654 |
| d | Finance costs (Refer Note No. 5 & 6) | 872 | 564 | 2,925 | 8,454 | 32,042 |
| e | Depreciation and amortization expenses | 87 | 78 | 72 | 291 | 275 |
| f | Other expenses (refer Note No. 9) | 6,045 | 1,942 | 6,069 | 11,812 | 10,857 |
| Total expenses | 3,75,079 | 3,23,945 | 2,78,967 | 16,08,300 | 15,10,982 | |
| 5 | Profit before exceptional items and tax (3-4) | 10,223 | 11,329 | 8,638 | 53,682 | 53,470 |
| 6 | Exceptional items - income/(expense) (Refer Note No. 7) | - | (192) | 52,163 | (192) | 52,163 |
| 7 | Profit Before Tax (5+6) | 10,223 | 11,137 | 60,801 | 53,490 | 1,05,633 |
| 8 | Tax expenses | |||||
| a | Current tax | 3,705 | 3,111 | 9,770 | 14,974 | 21,493 |
| b | Deferred tax expenditure/ (income) | (1,056) | (244) | (1,107) | (1,188) | (1,338) |
| 9 | Net Profit for the period (7-8) | 7,574 | 8,270 | 52,138 | 39,704 | 85,478 |
| 10 | Other comprehensive income | |||||
| Items that will not be reclassified to profit or loss | ||||||
| (i) | Remeasurements of post-employment benefit obligations- income/(expense) | 19 | 72 | (15) | 170 | 58 |
| -Income tax relating to remeasurements of post-employment benefit | (5) | (18) | 3 | (43) | (15) | |
| (ii) | Changes in fair value of FVOCI equity instrument - income /(expense) | - | - | (558) | (3) | (558) |
| Other comprehensive income / (expense), net of tax | 14 | 54 | (570) | 124 | (515) | |
| 11 | Total comprehensive income for the period (9+10) | 7,588 | 8,324 | 51,568 | 39,828 | 84,963 |
| 12 | Paid-up equity share capital (Face value of ₹ 10 per share) | 29,601 | 29,601 | 29,601 | 29,601 | 29,601 |
| 13 | Other equity (excluding revaluation reserves) (As per audited balance sheet) | 4,43,383 | 4,47,068 | |||
| 14 | Earnings per share (Not annualized) (₹) | |||||
| a | Basic | 2.56 | 2.79 | 17.61 | 13.41 | 28.88 |
| b | Diluted | 2.56 | 2.79 | 13.41 | 13.41 | 28.88 |
Million Units of electricity Sold 23,572 20,010 19,004 92,802 82,751
See accompanying notes to the financial results
Audited Standalone Balance Sheet as on March 31, 2026
| S. No. | Particulars | As at
31.03.2026 | As at
31.03.2025 |
| --- | --- | --- | --- |
| | | Audited | Audited |
| I. | ASSETS | | |
| 1 | Non-current assets | | |
| | Property, plant and equipment | 1,259 | 1,227 |
| | Goodwill | 3 | 3 |
| | Right-of-use asset | 301 | 306 |
| | Other intangible assets | 53 | 21 |
| | Financial Assets | | |
| | Investments in subsidiaries and associates | 76,727 | 76,727 |
| | Other investments | 9,345 | 9,348 |
| | Loans | 77 | 73 |
| | Deferred tax assets (net) | 5,936 | 4,791 |
| | Income tax assets (net) | 12,953 | 3,677 |
| | Other non-current assets | 48 | 73 |
| | Total non-current assets | 1,06,702 | 96,246 |
| 2 | Current assets | | |
| | Financial Assets | | |
| | Trade receivables | 4,37,973 | 4,76,152 |
| | Cash and cash equivalents | 21,404 | 94,730 |
| | Bank balances other than cash and cash equivalents | 2,66,493 | 1,21,496 |
| | Loans | 35 | 36 |
| | Other financial assets | 1,010 | 1,118 |
| | Other current assets | 13,048 | 8,762 |
| | Total current assets | 7,39,963 | 7,02,294 |
| | Total Assets | 8,46,665 | 7,98,540 |
| II. | EQUITY AND LIABILITIES | | |
| 1 | Equity | | |
| | Equity share capital | 29,601 | 29,601 |
| | Other equity | 4,43,383 | 4,47,068 |
| | Total equity | 4,72,984 | 4,76,669 |
| 2 | Non-current liabilities | | |
| | Financial Liabilities | | |
| | Lease liabilities | 71 | 71 |
| | Provisions | 8,151 | 5,282 |
| | Total non-current liabilities | 8,222 | 5,353 |
| 3 | Current liabilities | | |
| | Financial Liabilities | | |
| | Borrowings | - | 10,078 |
| | Trade payables | | |
| | - total outstanding dues of micro enterprises and small enterprises | 15 | 82 |
| | - total outstanding dues of creditors other than micro enterprises and small enterprises | 3,53,145 | 2,93,221 |
| | Other financial liabilities | 2,430 | 4,095 |
| | Other current liabilities | 9,796 | 8,023 |
| | Provisions | 73 | 71 |
| | Current Tax Liabilities (Net) | - | 948 |
| | Total current liabilities | 3,65,459 | 3,16,518 |
| | Total Equity and Liabilities | 8,46,665 | 7,98,540 |
PTC INDIA LIMING PTC NEW DELHI
Audited Standalone Statement of Cash Flow for the Year Ended March 31, 2026
| Particulars | Year ended | ||
|---|---|---|---|
| 31.03.2026 | |||
| (Audited) | 31.03.2025 | ||
| (Audited) | |||
| Cash flows from operating activities | |||
| Net profit before tax | 53,490 | 1,05,633 | |
| Adjustments for: | |||
| Depreciation and amortization expense | 291 | 275 | |
| Loss / (Profit) on sale of fixed assets (net) | 3 | (1) | |
| Bad debts/ advances written off | 5 | - | |
| Profit on Sale of Equity in Subsidiary Company (Net of cost to sell) | - | (52,163) | |
| Exceptional item - Surcharge Income (Refer Note No. 7(b)) | (1,49,236) | - | |
| Exceptional item - Surcharge expense (Refer Note No. 7(b)) | 1,49,108 | - | |
| Provision for litigation (refer Note No. 9) | 4,012 | 3,243 | |
| Impairment allowance for doubtful debts / advances | 1,882 | 2,343 | |
| Liabilities no longer required written back | (859) | (13) | |
| Finance costs (Refer Note No. 5 & 6) | 8,454 | 32,042 | |
| Interest income (Refer Note No. 5 & 6) | (34,871) | (58,192) | |
| Gain on modification of lease terms | - | (14) | |
| Rental income | - | (2) | |
| Profit on sale of investment (net) | (579) | (1,072) | |
| Operating profit before working capital changes | 31,700 | 32,079 | |
| Adjustments for: | |||
| (Increase)/ Decrease in trade receivables | 36,292 | 97,038 | |
| (Increase)/ Decrease in loans and other financial assets | 105 | 319 | |
| (Increase)/ Decrease in other current assets | 1,284 | (1,901) | |
| Increase/ (Decrease) in trade payable | 60,715 | (59,554) | |
| Increase/ (Decrease) in other current liabilities | 1,773 | 3,092 | |
| Increase/ (Decrease) in other financial liabilities | (1,678) | 645 | |
| Increase/ (Decrease) in provisions | (971) | 87 | |
| Cash generated from/(used in) operating activities | 1,29,220 | 71,805 | |
| Direct taxes paid (net) | (25,198) | (19,987) | |
| Net cash generated from/(used in) operating activities (A) | 1,04,022 | 51,818 | |
| Cash flow from investing activities | |||
| Exceptional item - Surcharge Income (Refer Note No. 7(b)) | 1,49,236 | - | |
| Interest received | 29,345 | 57,135 | |
| Rent received | - | 2 | |
| Purchase of property, plant and equipment and intangible assets | (390) | (145) | |
| Sale of property, plant and equipment | 19 | 42 | |
| Sale of Equity in Subsidiary Company (Net of cost to sell) | - | 1,17,575 | |
| Sale/(Purchase) of other investments (net) | 579 | 6,082 | |
| Decrease/ (Increase) in bank balances other than cash & cash equivalents | (1,44,984) | (1,15,612) | |
| Net cash generated from/ (used in) investing activities (B) | 33,805 | 65,079 | |
| Cash flows from financing activities | |||
| Proceeds / (repayment) from/ of short term borrowings (Net) | (10,078) | (29,922) | |
| Lease liabilities paid | - | (32) | |
| Finance cost paid | (8,454) | (32,042) | |
| Exceptional item - Surcharge expense (Refer Note No. 7(b)) | (1,49,108) | - | |
| Dividend paid | (43,513) | (23,089) | |
| Net cash generated from/(used in) financing activities (C) | (2,11,153) | (85,085) | |
| Net increase/ (decrease) in cash and cash equivalents (A+B+C) | (73,326) | 31,812 | |
| Cash and cash equivalents (opening balance) | 94,730 | 62,918 | |
| Cash and cash equivalents (closing balance) | 21,404 | 94,730 |
PTC MEDIA LIMITED
PTC NEW DELTA
W
Notes:
-
The standalone financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, (The Regulations).
-
The above financial results were reviewed by the Audit Committee, with the management, in its meeting dated May 19, 2026 before submission to the Board for approval and the Board has approved the financial results in its meeting held on the same day i.e. May 19, 2026. These financial results have been audited by the Statutory Auditors of the Company.
-
Total revenue from operations of the Company includes sale of electricity and rendering of service (consultancy).
-
The Company is mainly in the business of electricity trading and all other activities revolve around the same. Accordingly, there is no separate reportable business segment in respect of these standalone financial results.
-
In accordance with the accounting policy, the surcharge income / recoverable on late/ non-payment of dues by customers is recognized when no significant uncertainty as to measurability or collectability exist. Related surcharge expense/ liabilities on late/ non-payments to the suppliers is also being recognized accordingly.
-
a) During the year, the Company has reclassified Surcharge Income from "Other Operating Income" to "Other Income" and Surcharge Expense from "Operating Expenses" to "Finance Costs" considering that the said classification would be more appropriate for the users of the financial results in understanding the financial performance of the Company. This change doesn't result in any impact on the total income, expense and profits of the Company.
b) The Company has recognized surcharge income of ₹ 1,260 Lakhs during the quarter ended March 31, 2026 (₹ 8,226 Lakhs for the quarter ended March 31, 2025) and ₹ 18,103 Lakhs for the year ended March 31, 2026 (₹ 56,117 Lakhs for the year ended March 31, 2025) from the customers on amounts overdue against sale of power which has been included in "Other Income". Correspondingly, surcharge expense of ₹ 790 Lakhs paid / payable to the suppliers during the quarter ended March 31, 2026 (₹ 2,815 Lakhs for the quarter ended March 31, 2025) and ₹ 7,656 Lakhs for the year ended March 31, 2026 (₹ 29,348 Lakhs for the year ended March 31, 2025) has been included in "Finance Costs".
- Exceptional items
₹ in lakhs
| Particulars | Quarter ended March 31, 2026 | Year ended March 31, 2026 | Remarks |
|---|---|---|---|
| Impact of Labour Codes | - | (320) | Refer note No (a) below |
| Surcharge Income | 41,289 | 1,49,236 | Refer note No (b)below |
| Surcharge Expense | (41,289) | (1,49,108) | |
| Exceptional Items Income/ (Expense) | - | (192) |
(a) On November 21, 2025, the Government of India notified four Labour Codes i.e. the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the "Labour Codes"), consolidating 29 erstwhile labour laws. Subsequently, the Ministry of Labour & Employment issued draft Central Rules and FAQs to facilitate assessment of the financial implications arising from changes in the regulatory framework. The code, amongst other things, introduced changes, including a uniform definition of wages and enhanced benefits relating to leaves.
Based on management's assessment of the impact of the notified provisions of the Labour Codes, supported by FAQs, the Company has recognised an additional expense of ₹ 320 Lakhs towards gratuity and compensated absences due to change in cost of past services.
The Company continues to monitor the developing regulatory scenario and further clarifications from the Government in respect of other aspects of the Labour Codes. Any additional impact arising from such developments will be assessed and appropriately accounted for as and when such rules are notified or clarifications are issued.
(b) In pursuant to orders of Court(s)/ APTEL/ CERC, the Company has recognized surcharge income of ₹ 41,289 Lakhs during the quarter ended March 31, 2026 and ₹ 1,49,236 Lakhs for the year ended March 31, 2026 on tariff revision/ additional cost/ O&M Charges etc.. Out of the aforesaid amount, the Company has recognized surcharge expense of ₹ 41,289 Lakhs during the quarter ended March 31, 2026 and ₹ 1,49,108 Lakhs for the year ended March 31, 2026 paid / payable to its suppliers as per provisions of power purchase agreements/ orders.
-
Figures of last quarter are balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the relevant financial year.
-
The Company has filed an appeal with Hon'ble Supreme Court against the APTEL's order received after the balance sheet date. Although, the Company is of the view that it has a good chance to succeed in the matter, on prudent basis, a provision of ₹ 4012 Lakhs has been created and included in Other Expenses.
-
The Board in its meeting held on May 19, 2026, has recommended the final dividend @ 55% (₹ 5.50 per equity share) for FY 2025-26 on 29,60,08,321 fully paid-up equity share of ₹ 10 each.
The Board, in its meeting dated February 14, 2026, had also approved interim dividend @ 30% (₹ 3 per equity share) for FY 2025-26 and the same has been paid by the Company in March 2026.
- The figures for the previous periods / year are re-classified / re-grounds / restated, whatever necessary.
Place: New Delhi
Date: May 19, 2026
(Dr. Manoj Kumar Jhawar)
Managing Director & CEO
CA
INDIA
TR Chadha & Co LLP
Chartered Accountants
Great Place
in
Work.
Certified
Chief Executive Officer
Independent Auditor's Report on Quarterly and Year to Date Consolidated Financial Results of PTC India Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To
The Board of Directors
PTC India Limited
Opinion
-
We have audited the accompanying statement of consolidated financial results of PTC India Limited (the Parent Company) and its subsidiary (the Parent Company and its subsidiary together referred to as "the Group") and its associates for the quarter and year ended March 31, 2026 ("the Statement"), attached herewith, being submitted by the Parent Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").
-
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of other auditors on separate audited financial statements of the subsidiary and associates, referred to in "Other Matters" paragraph below, the aforesaid Statement:
(i) includes the financial results of the following entities:
| Name of Entity | Relationship |
|---|---|
| PTC India Limited | Parent Company |
| PTC India Financial Services Limited | Subsidiary |
| Hindustan Power Exchange Limited | Associate |
(ii) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations, as amended, in this regard; and
(iii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India, of the consolidated net profit and consolidated other comprehensive Income and other financial information of the Group and its associates for the quarter and year ended March 31, 2026.
Basis of Opinion
- We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act 2013 as amended ("the Act"). Our responsibilities under those Standards are further described in "Auditor's Responsibilities for the Audit of Consolidated Financial Results" section of the report below. We are independent of the Group and its associates in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the consolidated financial results under the provisions of the Act and the rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our audit opinion on these consolidated financial results.
T R Chadha & Co LLP, A limited liability partnership with LLP Identification No. AAF-3926
Noida Branch Office: Plot No. B-13, First Floor, Sector-1, Noida- 201301, Gautam Budh Nagar (U.P.) | Ph: +91 120 4499900 E mail: [email protected];
Corporate/ Regd. Office: B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 | Ph: +91 011 43259900 | E-mail: [email protected]
Offices: Ahmedabad | Bengaluru | Chennai | Gurugram | Hyderabad | Mumbai | New Delhi | Noida | Pune | Tirupati | Vadodara
www.trchadha.com
Management's Responsibility for the Consolidated Financial Results
-
This Statement, has been prepared on the basis of consolidated financial statements for the year ended March 31, 2026. The Parent Company's Board of Directors is responsible for preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Group and its associates in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with the Listing Regulations. The respective Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and its associates and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and is free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Board of Directors of the Parent Company, as aforesaid.
-
In preparing the Statement, the respective Management and Board of Directors of the companies included in the Group and of its associates, are responsible for assessing the ability of the Group and of its associates, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
-
The respective Board of Directors of the companies included in the Group and of its associates, are also responsible for overseeing the financial reporting process of the Companies included in the Group and of its associates.
Auditor's Responsibility for the Audit of Consolidated Financial Results
-
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
-
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion, through a separate report on the complete set of financial statements, on whether the Group and its associates has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our
T R Chadha & Co LLP,
A limited liability partnership with LLP Identification No. AAF-3926
auditor's report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associates to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial results of the entities within the Group and its associates, to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial results of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
-
We communicate with those charged with governance of the Parent Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
- We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
- We have also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
Other Matters
- The accompanying Statement do not include the results of following entities because the financial results/ information of these entities was not available with the Parent Company for consolidation. The Group has fully impaired the value of investment in these entities in earlier periods and does not expect any further obligation over and above the cost of investment and therefore, in view of the management, there is no impact on the audited consolidated financial results for the quarter and year ended March 31, 2026.
| Name of Entity | Relationship |
|---|---|
| RS India Wind Energy Private Limited | Associate |
| Varam Bio Energy Private Limited | Associate |
- We did not audit the financial results/ information of one subsidiary included in these consolidated financial results, whose separate audited financial results/ information reflect total assets of Rs. 495,625 Lakhs as at March 31, 2026, total revenue of Rs. 11,908 Lakhs and Rs. 51,457 Lakhs, total net profit/(loss) after tax of Rs. 4,550 Lakhs and Rs. 31,936 Lakhs, and total comprehensive income/(loss) of Rs. 4,555 Lakhs and Rs. 31,970 Lakhs for the quarter and year ended March 31, 2026 respectively, and the net cash inflows/ (outflows) of Rs. (70,122) Lakhs for the year ended March 31, 2026 as considered in these consolidated financial results. The consolidated financial results also include group's share of net profit/ (loss) after tax of Rs. 04 Lakhs and Rs. 104 Lakhs and total comprehensive income/ (loss) of Rs. 04 Lakhs and Rs. 104 Lakhs, for the quarter and year ended March 31, 2026 respectively, as considered in these consolidated financial results in respect of one associate company, whose financial results/ information have not been audited by us. These financial results have been audited by other auditors whose reports have been furnished to us by the management and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the subsidiary and associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph above.
T R Chadha & Co LLP,
A limited liability partnership with LLP Identification No. AAF-3926
-
The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of full financial year ended March 31, 2026 and the published unaudited year to date figures up to the third quarter of the current financial year, which were subject to limited review by us, as required under the Listing Regulations.
-
The following matter has been included under 'Other Matter' paragraph in the audit report on the separate financial results of PTC India Financial Services Limited, a subsidiary of the Parent Company, for the year ended March 31, 2026, issued by an independent firm of Chartered Accountants (Independent Auditor) vide its report dated May 05, 2026, which is reproduced below:
"For loans under stage I and stage II, the management has considered the value of secured portion on the basis of best available information including book value of assets/projects as per latest available audited financial statements of the borrowers. For loan under stage III, the management has considered the latest valuation reports for valuing the security and best estimate of realization available with the Company. The Company has provided expected credit loss (ECL) as required under Ind AS 109 based on the ECL report submitted by an independent agency appointed by the Company. The use of such report does not diminish management's responsibility for ECL estimation nor our responsibility to evaluate the assumptions, methodology and data used."
Our opinion on the Statement is not modified in respect of the matters mentioned in Paras 12 to 15 above.
For T R Chadha & Co LLP
Chartered Accountants
Firm's Registration No. 006711N/N500028
HITESH GARG
Digitally signed by HITESH GARG
Date: 2026.05.19 17:58:56
+05'30'
Hitesh Garg
Partner
Membership No. 502955
Place: New Delhi
Date: May 19, 2026
UDIN: 26502955DQQRHB6600
T R Chadha & Co LLP,
A limited liability partnership with LLP Identification No. AAF-3926
Page 4 of 4
PTC INDIA LIMITED
Registered Office: 2nd Floor, NBCC Tower, 15 Bhikaji Cama Place New Delhi - 110 066 (CIN : L40105DL1999PLC099328)
Tel: 011- 41659500, 41595100, 46484200, Fax: 011-41659144, E-mail: [email protected] Website: www.ptcindia.com
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
(Figures in ₹ Lakhs, unless otherwise indicated)
| S. No. | Particulars | Consolidated | ||||
|---|---|---|---|---|---|---|
| Quarter ended | Year ended | |||||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||
| Audited (Refer Note No.11) | Un-audited | Audited (Refer Note No.11) | Audited | Audited | ||
| I | Continuing Operations | |||||
| 1 | Revenue from operations | |||||
| a | Revenue from operations (Refer Note No. 4) | 3,85,997 | 3,36,373 | 2,88,693 | 16,62,116 | 15,54,586 |
| b | Other operating revenue (Refer Note No. 6(a)) | 3,755 | 4,164 | 3,708 | 14,963 | 13,363 |
| c | Total revenue from operations | 3,89,752 | 3,40,537 | 2,92,401 | 16,77,079 | 15,67,949 |
| 2 | Other Income (Refer Note No. 5 & 6) | 7,455 | 7,235 | 10,650 | 36,698 | 59,773 |
| 3 | Total Income (1+2) | 3,97,207 | 3,47,772 | 3,03,051 | 17,13,777 | 16,27,722 |
| 4 | Expenses | |||||
| a | Purchases | 3,66,261 | 3,19,497 | 2,67,666 | 15,80,365 | 14,59,950 |
| b | Impairment of financial instruments | 13 | (1,268) | (336) | (15,103) | (1,106) |
| c | Operating expenses (Refer Note No. 6(a)) | 255 | 150 | 672 | 639 | 1,204 |
| d | Employee benefit expenses (Refer Note No. 9(a)) | 2,083 | 2,352 | 2,000 | 9,039 | 8,498 |
| e | Finance costs (Refer Note No. 5 & 6) | 5,299 | 6,384 | 9,877 | 31,036 | 64,191 |
| f | Depreciation and amortization expenses | 271 | 266 | 251 | 1,034 | 931 |
| g | Other expenses (Refer Note No. 10) | 6,644 | 2,401 | 6,836 | 13,872 | 13,217 |
| h | Total expenses | 3,80,826 | 3,29,782 | 2,86,966 | 16,20,882 | 15,46,885 |
| 5 | Profit before exceptional items and tax (3-4) | 16,381 | 17,990 | 16,085 | 92,895 | 80,837 |
| 6 | Exceptional items Income/(Expense) (Refer Note No. 9) | - | (435) | 30,596 | (435) | 30,596 |
| 7 | Profit Before Share of Profit/(Loss) of Associates and Tax (5+6) | 16,381 | 17,555 | 46,681 | 92,460 | 1,11,433 |
| 8 | Share of Profit / (Loss) of Associates | 4 | (56) | 52 | 104 | 242 |
| 9 | Profit Before Tax (7+8) | 16,385 | 17,499 | 46,733 | 92,564 | 1,11,675 |
| 10 | Tax expenses | |||||
| a | Current tax | 5,250 | 4,422 | 10,392 | 17,830 | 26,585 |
| b | Deferred tax expenditure/ (income) | (992) | (47) | (35) | 5,939 | 494 |
| c | Income tax earlier year (Refer Note No. 8(i)) | - | - | - | (2,949) | (777) |
| 11 | Net Profit for the period (9-10) | 12,127 | 13,124 | 36,376 | 71,744 | 85,373 |
| II | Discontinued Operations | |||||
| 12 | Profit/ (loss) from discontinued operations before tax | - | - | 569 | - | 13,423 |
| 13 | Tax expense of discontinued operations | - | - | (242) | - | 1,172 |
| 14 | Profit/ (loss) from discontinued operations (12-13) | - | - | 811 | - | 12,251 |
| 15 | Profit & (loss) for the period/ year (11+14) | 12,127 | 13,124 | 37,187 | 71,744 | 97,624 |
| 16 | Other comprehensive income | |||||
| a | Items that will not be reclassified to profit or loss | |||||
| b | (i) Remeasurements of post-employment benefit obligations | 25 | 137 | (19) | 215 | (28) |
| c | Share of other comprehensive income of Associates | 1 | - | - | 1 | - |
| d | Deferred tax relating to remeasurements of post- employment benefit | (6) | (35) | 3 | (54) | 6 |
| e | (ii) Changes in fair value of FVTOC/ equity instrument | - | - | (558) | (3) | (558) |
| b | Items that will be reclassified to profit or loss | |||||
| c | Change in cash flow hedge reserve | - | 103 | (39) | - | (140) |
| d | Income tax relating to cash flow hedge reserve | - | (26) | 9 | - | 35 |
| e | Other comprehensive income, net of tax (a+b) | 20 | 179 | (604) | 159 | (685) |
| 17 | Total comprehensive income for the period (15+16) | 12,147 | 13,303 | 36,583 | 71,903 | 96,939 |
| 18 | Profit from continuing operations for the period attributable to | |||||
| 20 | Owners of the parent | 10,534 | 11,405 | 34,340 | 60,563 | 77,774 |
| 21 | Non-controlling interests | 1,593 | 1,719 | 2,036 | 11,181 | 7,599 |
| 22 | Other comprehensive income is attributable to: | |||||
| 23 | Owners of the parent | 19 | 135 | (593) | 148 | (628) |
| 24 | Non-controlling interests | 1 | 44 | (11) | 11 | (57) |
| 25 | Total comprehensive income is attributable to: | |||||
| 26 | Owners of the parent | 10,553 | 11,540 | 34,558 | 60,711 | 89,397 |
| 27 | Non-controlling interests | 1,594 | 1,763 | 2,025 | 11,192 | 7,542 |
| 28 | Paid-up equity share capital | 29,601 | 29,601 | 29,601 | 29,601 | 29,601 |
| 29 | (Face value of ₹ 10 per share) | |||||
| 24 | Other equity (excluding revaluation reserves) | 5,68,476 | 5,50,910 | |||
| 25 | (As per audited balance sheet) | |||||
| 24 | Earnings per share (for continuing operation) | |||||
| a | (Not annualized) (₹) | |||||
| 25 | Basic | 3.56 | 3.85 | 11.60 | 20.46 | 26.27 |
| 26 | Diluted | 3.56 | 3.85 | 11.60 | 20.46 | 26.27 |
| 25 | Earnings per equity share (for discontinued operation) | |||||
| 26 | (Not annualized) (₹) | |||||
| 26 | Basic | - | - | - | - | 4.14 |
| 26 | Diluted | - | - | - | - | 4.14 |
| 26 | Earnings per equity share (for continuing & discontinued operation) | |||||
| a | (Not annualized) (₹) | |||||
| 26 | Basic | 3.56 | 3.85 | 11.60 | 20.46 | 30.41 |
| 27 | Diluted | 3.56 | 3.85 | 11.60 | 20.46 | 30.41 |
Million Units of electricity Sold
See accompanying notes to the financial results
23,574 60,752 4,158 92,814 83,275
Audited Consolidated Balance Sheet as on March 31, 2026
(Figures in ₹ Lakhs)
| S. No. | Particulars | 31.03.2026 | 31.03.2025 |
|---|---|---|---|
| Audited | Audited | ||
| I. | ASSETS | ||
| 1 | Non-current assets | ||
| Property, Plant and Equipment | 1,854 | 1,985 | |
| Goodwill | 3 | 3 | |
| Right-of-use asset | 1,200 | 1,718 | |
| Other intangible assets | 125 | 131 | |
| Intangible assets under development | 11 | 11 | |
| Financial Assets | |||
| Investments in associates | 1,626 | 1,521 | |
| Other investments | 17,489 | 20,078 | |
| Loans | 2,06,744 | 3,12,282 | |
| Other financial assets | 62 | 392 | |
| Deferred tax assets (net) | 1,818 | 7,810 | |
| Income tax assets (net) | 17,926 | 9,225 | |
| Other non-current assets | 48 | 73 | |
| Total non-current assets | 2,48,906 | 3,55,229 | |
| 2 | Current assets | ||
| Financial Assets | |||
| Investments | 75,007 | 16,108 | |
| Trade receivables | 4,38,055 | 4,76,201 | |
| Cash and cash equivalents | 27,534 | 1,70,982 | |
| Bank balances other than Cash and cash equivalents | 3,64,539 | 1,56,418 | |
| Loans | 35 | 36 | |
| Other financial assets | 95,647 | 1,07,520 | |
| Other current assets | 13,348 | 9,094 | |
| Total current assets | 10,14,165 | 9,36,359 | |
| Total Assets | 12,63,071 | 12,91,588 | |
| II. | EQUITY AND LIABILITIES | ||
| 1 | Equity | ||
| Equity Share capital | 29,601 | 29,601 | |
| Other Equity | 5,68,476 | 5,50,910 | |
| Total equity attributable to owners of the parent | 5,98,077 | 5,80,511 | |
| Non-controlling interests | 1,07,778 | 96,386 | |
| Total equity | 7,05,855 | 6,76,897 | |
| 2 | Non-current liabilities | ||
| Financial Liabilities | |||
| Borrowings | 94,525 | 1,75,848 | |
| Lease Liabilities | 570 | 1,165 | |
| Other financial liabilities | 550 | 55 | |
| Provisions | 8,569 | 5,561 | |
| Total non-current liabilities | 1,04,214 | 1,82,629 | |
| 3 | Current liabilities | ||
| Financial Liabilities | |||
| Borrowings | 81,192 | 1,18,711 | |
| Lease liabilities | 595 | 519 | |
| Trade payables | |||
| - total outstanding dues of micro enterprises and small enterprises | 18 | 98 | |
| - total outstanding dues of creditors other than micro enterprises and small enterprises | 3,53,275 | 2,93,783 | |
| Other financial liabilities | 7,940 | 9,761 | |
| Other current liabilities | 9,900 | 8,150 | |
| Provisions | 82 | 92 | |
| Current tax liabilities (net) | - | 948 | |
| Total current liabilities | 4,53,002 | 4,32,062 | |
| Total Equity and Liabilities | 12,63,071 | 12,91,588 |
Consolidated segment wise information
(Figures in ₹ Lakhs)
| Sl. No. | Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|---|
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||
| Audited (Refer Note No.11) | Un-audited | Audited (Refer Note No.11) | Audited | Audited | ||
| 1 | Segment Revenue | |||||
| Power | 3,79,912 | 3,30,654 | 2,85,674 | 16,45,028 | 15,61,528 | |
| Financing business | 11,851 | 12,094 | 14,963 | 51,070 | 62,591 | |
| Unallocated | 5,444 | 5,024 | 2,414 | 17,679 | 3,603 | |
| Total | 3,97,207 | 3,47,772 | 3,03,051 | 17,13,777 | 16,27,722 | |
| 2 | Segment Result | |||||
| Power | 5,217 | 6,746 | 6,961 | 37,648 | 51,672 | |
| Financing business | 6,287 | 6,081 | 7,280 | 38,738 | 28,127 | |
| Unallocated | 4,881 | 4,672 | 32,492 | 16,178 | 31,876 | |
| Profit before tax | 16,385 | 17,499 | 46,733 | 92,564 | 1,11,675 | |
| 3 (a) | Segment Assets | |||||
| Power | 4,68,455 | 3,58,491 | 5,12,113 | 4,68,455 | 5,12,113 | |
| Financing business | 4,87,561 | 5,04,214 | 5,54,368 | 4,87,561 | 5,54,368 | |
| Unallocated | 3,07,055 | 3,42,611 | 2,25,107 | 3,07,055 | 2,25,107 | |
| Total | 12,63,071 | 12,05,316 | 12,91,588 | 12,63,071 | 12,91,588 | |
| (b) | Segment Liabilities | |||||
| Power | 3,72,693 | 2,93,285 | 3,18,241 | 3,72,693 | 3,18,241 | |
| Financing business | 1,80,619 | 2,06,151 | 2,89,776 | 1,80,619 | 2,89,776 | |
| Unallocated | 3,904 | 3,299 | 6,674 | 3,904 | 6,674 | |
| Total | 5,57,216 | 5,02,735 | 6,14,691 | 5,57,216 | 6,14,691 |
Audited Consolidated Statement of Cash Flow for the year ended March 31, 2026
(Figures in ₹ Lakhs)
| Particulars | Year ended | ||
|---|---|---|---|
| 31.03.2026 | 31.03.2025 | ||
| Audited | Audited | ||
| Cash flows from operative activities | |||
| Net profit before tax | 92,564 | 1,11,675 | |
| Adjustments for: | |||
| Depreciation and amortization expense | 1,034 | 931 | |
| Bad debts/ advances written off | 5 | - | |
| Liabilities no longer required written back | (859) | (13) | |
| Share in loss / (profit) of associate | (104) | (242) | |
| (Profit)/Loss on sale of fixed assets | 6 | - | |
| Provision for litigation (Refer Note No. 10) | 4,012 | 3,243 | |
| Impairment on financial instruments | (15,103) | (1,106) | |
| Profit on Sale of Subsidiary Company (Net of cost to sell) | - | (30,596) | |
| Gain on modification of lease terms | - | (14) | |
| Impairment allowance for doubtful debts / advances | 1,882 | 2,382 | |
| Exceptional item - Surcharge Income (Refer Note No. 9(b)) | (1,49,236) | - | |
| Exceptional item - Surcharge expense (Refer Note No. 9(b)) | 1,49,108 | - | |
| Finance costs (Refer Note No. 5 & 6) | 31,036 | 64,191 | |
| Ind AS adjustments | (2,952) | (815) | |
| Interest income (Refer Note No. 5 & 6) | (35,204) | (58,648) | |
| Profit on sale of investment (net) | (579) | (1,072) | |
| 75,610 | 89,916 | ||
| Adjustments for movement in: | |||
| (Increase)/ Decrease in loan financing | 1,33,479 | 61,177 | |
| (Increase)/ Decrease in trade receivables | 36,259 | 97,051 | |
| (Increase)/ Decrease in other financial assets | (45) | 855 | |
| (Increase)/ Decrease in other current assets | 1,316 | (1,999) | |
| Increase/ (Decrease) in trade payable | 60,263 | (59,180) | |
| Increase/ (Decrease) in other financial liabilities | (1,603) | 972 | |
| Increase/ (Decrease) in other current liabilities | 1,750 | 3,116 | |
| Increase/ (Decrease) in provisions | (799) | 103 | |
| Cash generated from/(used in) operating activities | 3,06,230 | 1,92,011 | |
| Direct taxes paid (net) | (24,530) | (26,725) | |
| Net cash from / (used in) operating activities - continuing operations | (A) | 2,81,700 | |
| Net cash from / (used in) operating activities - discontinued operations | (a) | - | |
| Net cash from / (used in) operating activities - continuing and discontinued operations | 2,81,700 | 1,86,386 | |
| Cash flows investing activities | |||
| Interest received | 29,678 | 57,591 | |
| Purchase of property, plant and equipment and intangible assets | (425) | (547) | |
| Sale of property, plant and equipment | 22 | 51 | |
| Purchase of intangible assets under development | - | 9 | |
| Exceptional item - Surcharge Income (Refer Note No. 9(b)) | 1,49,236 | - | |
| Sale of Subsidiary Company (Net of cost to sell) | - | 1,17,575 | |
| Sale/(Purchase) of investments (net) | (52,787) | (8,277) | |
| Decrease/ (Increase) in bank balances other than cash & cash equivalents | (2,08,093) | (23,302) | |
| Net cash from / (used in) investing activities - continuing operations | (B) | 1,43,100 | |
| Net cash from / (used in) investing activities - discontinued operations | (b) | - | |
| Net cash from / (used in) operating activities - continuing and discontinued operations | (82,369) | 1,45,352 | |
| Cash flows from financing activities | |||
| Proceeds / (repayment) from/ of borrowings (Net) | (1,11,321) | (1,35,617) | |
| Lease liabilities paid | (519) | (482) | |
| Finance cost paid | (31,048) | (64,208) | |
| Exceptional item - Surcharge expense (Refer Note No. 9(b)) | (1,49,108) | - | |
| Proceeds from debt securities (net) | (7,270) | (10) | |
| Dividend paid | (43,513) | (23,089) | |
| Net cash from / (used in) financing activities - continuing operations | (C) | (2,23,406) | |
| Net cash from / (used in) financing activities - discontinued operations | (c) | (22,474) | |
| Net cash from / (used in) financing activities - continuing and discontinued operations | (3,42,779) | (2,45,880) | |
| Net increase/(decrease) in cash and cash equivalents - continuing operations | (A+B+C) | 84,980 | |
| Net increase/(decrease) in cash and cash equivalents -discontinued operations | (a+b+c) | 878 | |
| Cash and cash equivalents (opening balance)- continuing operations | 1,70,982 | 86,002 | |
| Cash and cash equivalents (closing balance) from continuing operations | 27,534 | 1,70,982 |
Notes:
-
The consolidated financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, (The Regulations).
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The above consolidated financial results have been reviewed by the Audit Committee, with the management, in its meeting dated May 19, 2026 before submission to the Board for approval and the Board has approved the consolidated financial results in its meeting held on the same day i.e. May 19, 2026. These consolidated financial results have been audited by the Statutory Auditors of the Parent Company i.e. PTC India Limited.
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Segments:-The Group is in the business of power (electricity) and financing business.
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Revenue from operations of the Group includes sale of electricity and interest income from loan financing/debenture.
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In accordance with the accounting policy, the surcharge income / recoverable on late/ non-payment of dues by customers is recognized when no significant uncertainty as to measurability or collectability exist. Related surcharge expense/ liabilities on late/ non-payments to the suppliers is also being recognized accordingly.
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a) During the year, the Group has reclassified Surcharge Income from "Other Operating Income" to "Other Income" and Surcharge Expense from "Operating Expenses" to "Finance Costs" considering that the said classification would be more appropriate for the users of the financial results in understanding the financial performance of the Group. This change doesn't result in any impact on the total income, expense and profits of the Group.
b) The Group has recognized surcharge income of ₹ 1,260 Lakhs during the quarter ended March 31, 2026 (₹ 8,226 Lakhs for the quarter ended March 31, 2025) and ₹ 18,103 Lakhs for the year ended March 31, 2026 (₹ 56,117 Lakhs for the year ended March 31, 2025) from the customers on amounts overdue against sale of power which has been included in "Other Income". Correspondingly, surcharge expense of ₹ 790 Lakhs paid / payable to the suppliers during the quarter ended March 31, 2026 (₹ 2,815 Lakhs for the quarter ended March 31, 2025) and ₹ 7,656 Lakhs for the year ended March 31, 2026 (₹ 29,348 Lakhs for the year ended March 31, 2025) has been included in "Finance Costs".
- i) The subsidiary and associate companies considered in the Consolidated Financial Results are as follows
| Particulars | As on 31.03.2026 | As on 31.03.2025 |
|---|---|---|
| a) Subsidiary Companies | ||
| 1. PTC India Financial Services Limited ("PFS") | 64.99 | 64.99 |
| b) Associate Company | ||
| 1. Hindustan Power Exchange Limited | 22.62 | 22.62 |
All the above Companies are incorporated in India.
ii) The Group has two associates viz; M/s R.S. India Wind Energy Private Limited (RSIWEPL) and M/s Varam Bloenergy Private Limited (VBPL). The Group had fully impaired ₹ 6,551 Lakhs value of its investments in these associates in earlier years and does not have any further obligation over & above the cost of investment. The financial statements/ results of these associates are not available with the Group. Further, VBPL is presently under liquidation. Hence, Group's share of net profit/loss after tax and total comprehensive income/loss of its associates has been considered as ₹ Nil in the consolidated financial results.
- i) In the year 2008-09, PFS financed M/s East Coast Energy Private Limited ("ECEPL") through a mix of debt and equity, and subsequently converted the debentures into equity shares in FY 2009-10. These investments were fair valued at ₹ Nil through OCI in earlier years. Pursuant to the NCLT order dated October 16, 2024, ECEPL was dissolved under the Insolvency and Bankruptcy Code, 2016, and the PFS's equity investment of ₹ 13,339 Lakhs was cancelled and extinguished during the quarter ended March 31, 2025. Following internal evaluation and consultation with tax advisors, the write-off was concluded to be a revenue loss qualifying as a business loss under the Income Tax Act, 1961. Accordingly, PFS has claimed ₹ 13339 Lakhs as a business loss for FY 2024-25. The corresponding tax benefit of ₹ 2,949 Lakhs has been recognised under "Income tax earlier year" in the consolidated financial results for the quarter ended June 30, 2025 and year ended March 31, 2026.
ii) Pursuant to resolution plan dated July 06, 2024 in respect of M/s NSL Nagapatnam Power and Infratech Limited, as approved by NCLT vide order dated May 27, 2025, M/s Rungta Mines Limited, the Successful Resolution Applicant, paid ₹ 12500 Lakhs to PFS on May 31, 2025 towards the full settlement of principal amount. The financial impact of same was recognized in the financial results for the quarter ended June 30, 2025 and year ended March 31, 2026.
iii) Pursuant to recovery measures and resolution process for M/s Vento Power Infra Private Limited (VPL), after an elaborate price discovery process, PFS issued a Letter of Intent ("Loi") on June 23, 2025 to the highest bidder namely M/s Enviro Infra Engineers Limited (EIEL) for resolution of NPA debt of VIPL. The gross transaction value of ₹ 11,561 Lakhs was received and the effect of the same has been considered in the financial results for the quarter ended September 30, 2025 and the year ended March 31, 2026.
iv) In case of M/s IL&FS Tamilnadu Power Co. Limited (ITPCL), RBI had permitted special dispensation as to clause 34 of RBI guideline vide letter dated December 31,2020 with regard to restructuring in this account and all necessary restructuring guidelines have since been complied with by the lenders including PFS. Subsequently, the Lead Bank (PNB), vide its latest letter dated June 16, 2025, submitted a letter to regulator mentioning compliances for upgradation of the account to standard and same was permitted on July 04, 2025. In line with above, PFS had upgraded ITPCL to standard category in the quarter ended June 30, 2025. PFS has received ₹ 1,248 Lakhs and continued to maintain 100% provision against the balance unsustainable loan (debenture) amounting to ₹ 6,229 Lakhs.
v) As at March 31, 2026, for loans under stage I and stage II, the management of PFS has considered the value of secured portion on the basis of best available information including book value of underlying assets/projects as per latest available audited financial statements of the borrowers. For loans classified under stage III, the management of PFS has considered the latest valuation reports for valuing the security and best estimate of realization available with it.
vi) During the quarter ended September 30, 2025, PFS had technically written off 5 nos. of loan accounts amounting to ₹ 13,419 Lakhs and ₹ 439 Lakhs in equity investment in compliance of Reserve Bank v. India (Compliance Banks - Resolution of Stressed Assets) Directions, 2025. These loan assets were classified as Stage-III with 100% Retained Loss allowance.
PTC
vii) In July 2025, 'PFS has implemented an updated Expected Credit Loss (ECL) policy, effective from April 01, 2025, which has been duly reviewed and adopted by its Audit Committee and approved by its Board of Directors. This updated policy has been considered for the preparation of financial results for all the quarters and annual accounts for the year ended 31st March,2026. The updated policy is duly amended where ever needed in the accounting policy. The updated policy aims to enhance the accuracy and reliability of credit loss provisioning by aligning it with various critical parameters, including Borrowers' repayment history, Past delinquency trends, Internal credit ratings, Prevailing industry practices. This harmonized approach ensures a more risk-sensitive and forward-looking assessment of credit risk. However, the final impact of the expected credit loss allowance will be influenced by the outcomes of ongoing borrower resolutions, particularly those under the Insolvency and Bankruptcy Code (IBC), which continue to evolve and may affect recoverable amounts.
viii) As per Regulation 54(2) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 ("Listing Regulations"), all secured non-convertible debentures ("NCDs / Bond") issued by PFS were secured by way of an exclusive charge on identified receivables to the extent of at least 100% of outstanding secured NCDs and pursuant to the terms of respective information memorandum. As on March 31,2026, it has been fully redeemed.
ix) As on March 31, 2026, PFS has assessed its financial position, including expected realization of assets and payment of liabilities including borrowings, and believes that sufficient funds will be available to pay-off the liabilities through availability of High-Quality Liquid Assets (HQLA) and undrawn lines of credit to meet its financial obligations in at least 12 months from the reporting date.
x) As of March 31, 2026, PFS was not in compliance with the minimum infrastructure exposure requirement of 75% prescribed for classification as an NBFC-IFC. PFS is undertaking necessary measures to restore compliance within the stipulated timeline of September 30, 2026. The same has been duly intimated to the Reserve Bank of India (RBI), and the requisite approval/extension has been obtained.
xi) On March 30, 2026, the Managing Director & CEO of PFS tendered his resignation, effective from June 30, 2026. Subsequently, on April 8, 2026, the Board of Directors of PFS, based on recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Rajiv Malhotra as an Additional Director, in the category of Nominee Director, nominated by the Parent Company.
In view of the above, PFS has initiated the process of appointment of new Managing Director and CEO and one more independent director.
9 Exceptional items
₹ in lakhs
| Particulars | Quarter ended March 31, 2026 | Year ended March 31, 2026 | Remarks |
|---|---|---|---|
| Impact of Labour Codes | - | (563) | Refer note No (a) below |
| Surcharge Income | 41,289 | 1,49,236 | Refer note No (b) below |
| Surcharge expense | (41,289) | (1,49,108) | |
| Exceptional Items Income/(Expense) | - | (435) |
(a) On November 21, 2025, the Government of India notified four Labour Codes i.e. the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the "Labour Codes"), consolidating 29 erstwhile labour laws. Subsequently, the Ministry of Labour & Employment issued draft Central Rules and FAQs to facilitate assessment of the financial implications arising from changes in the regulatory framework. The code, amongst other things, introduced changes, including a uniform definition of wages and enhanced benefits relating to leaves.
Based on management's assessment of the impact of the notified provisions of the Labour Codes, supported by FAQs, the Group has recognised an additional expense of ₹ 563 Lakhs towards gratuity and compensated absences due to change in cost of past services.
The Group continues to monitor the developing regulatory scenario and further clarifications from the Government in respect of other aspects of the Labour Codes. Any additional impact arising from such developments will be assessed and appropriately accounted for as and when such rules are notified or clarifications are issued.
(b) In pursuant of orders of Court(s)/APTEL/CERC, the Group has recognized surcharge income of ₹ 41,289 Lakhs during the quarter ended March 31, 2026 and ₹ 1,49,236 Lakhs for the year ended March 31, 2026 on tariff revision/ additional cost/O&M Charges etc.. Out of the aforesaid amount, the Group has recognized surcharge expense of ₹ 41,289 Lakhs during the quarter ended March 31, 2026 and ₹ 1,49,108 Lakhs for the year ended March 31, 2026 paid / payable to its suppliers as per provisions of power purchase agreements/orders.
10 The Parent Company has filed an appeal with Hon'ble Supreme Court against the APTEL's order received after the balance sheet date. Although, the Parent Company is of the view that it has a good chance to succeed in the matter, on prudent basis, a provision of ₹ 4012 Lakhs has been created and included in Other Expenses.
11 The Board in its meeting held on May 19, 2026, has recommended the final dividend @ 55% (₹ 5.50 per equity share) for FY 2025-26 on 29,60,08,321 fully paid-up equity share of ₹ 10 each.
The Board, in its meeting dated February 14, 2026, had also approved interim dividend @ 30% (₹ 3 per equity share) for FY 2025-26 and the same has been paid by the Company in March 2026.
12 Figures of last quarter are balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the relevant financial year. The figures for the previous periods / year are re-classified / re-grouped, wherever necessary.
Place: New Delhi
Date: May 19, 2026
(Dr. Manol Kumar Jhawar)
Managing Director & CEO
PTC INDIA LIMITED
Registered Office: 2nd Floor, NBCC Tower, 15 Bhikaji Cama Place New Delhi - 110 066
(CIN: L40105DL1999PLC099328)
Other information - Integrated Filing (Financial)
For the quarter and year ended March 31, 2026
| S No | Requirement | Remarks |
|---|---|---|
| B | Statement of Deviation or Variation for Proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement etc. | Not applicable |
| C | Disclosure of outstanding default on loans and debt securities | NIL |
| E | Statement on impact of Audit Qualifications (For Audit Report with Modified Opinion) submitted along with annual audited financial results (Standalone and consolidated separately) (applicable only for annual filing i.e. 4th quarter) | Not applicable |
Place: New Delhi
Date: May 19, 2026
(Dr. Manoj Kumar Jhawar)
Managing Director & CEO
Declaration
(Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015)
| 1 | Name of the Company | PTC India Limited |
|---|---|---|
| 2 | Annual financial statement for the year ended | 31st March 2026 |
| 3 | Type of Audit opinion | Unmodified |
| (Audited Standalone and Consolidated Financial Statements) |
For PTC India Limited
Dr. Manoj Kumar Jhawar
Managing Director & CEO
DIN 07306454
Pankaj Goel
ED & CFO
Date: May 19, 2026
