Jaiprakash Associates Limited has declared its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, under Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company submitted these results on February 14, 2026, while continuing to operate under Corporate Insolvency Resolution Process (CIRP).

Q3FY26 Financial Performance

The company reported significant losses during the quarter, with standalone operations showing a net loss of ₹305.33 crores for Q3FY26 compared to ₹717.02 crores loss in Q3FY25. Revenue from operations stood at ₹724.76 crores for the current quarter.

Nine Months Performance

For the nine months ended December 31, 2025, the company's standalone operations recorded a net loss of ₹1,630.72 crores compared to ₹2,073.96 crores in the corresponding period of the previous year, showing improvement in loss reduction.

Corporate Insolvency Resolution Process Status

The company remains under CIRP, with Resolution Professional Bhuvan Madan managing operations on a going concern basis. During the quarter, Adani Enterprises Limited's resolution plan was approved by the Committee of Creditors, and an application has been filed under Section 30(6) of IBC before Hon'ble NCLT Allahabad Bench seeking approval under Section 31 of the IBC.

Exceptional Items and Key Developments

The financial results include exceptional items totaling ₹318.26 crores for the quarter, primarily comprising estimated incremental impact of ₹34.00 crores due to New Labour Codes implementation and ₹295.80 crores impact from discontinuation of Bhilai Jaypee Cement Limited consolidation.

Regulatory Compliance and Audit

The financial results were taken on record by the Resolution Professional on February 14, 2026, between 5:00 PM and 5:50 PM, along with Limited Review Report from Statutory Auditors M/s. Dass Gupta & Associates, Chartered Accountants, New Delhi. The communication was signed by Som Nath Grover, Vice President & Company Secretary (ACS-4055).

Jaiprakash associates Limited has filed its monthly disclosure of defaults on payment obligations, revealing total outstanding borrowings of ₹55,357.39 crores as on January 14, 2026. The company submitted this mandatory filing to BSE and NSE on February 5, 2026, in compliance with SEBI circular requirements for companies under insolvency proceedings.

Financial Obligations and Outstanding Debt

The company's disclosure presents a comprehensive overview of its financial position while operating under the Corporate Insolvency Resolution Process. The filing indicates that both outstanding borrowings from banks and financial institutions and total financial indebtedness stand at the same amount.

Lender Portfolio and Obligations

The company maintains obligations across a diverse portfolio of financial institutions. The disclosure identifies multiple categories of lenders involved in the resolution process.

Key Lenders Include:

• National Asset Reconstruction Company Limited (NARCL)
• Major public sector banks: State Bank of India, Punjab National Bank, Bank of Maharashtra, Canara Bank, Bank of Baroda
• Private sector banks: ICICI Bank Limited, Axis Bank Limited, Yes Bank Limited
• Regional banks: The Jammu & Kashmir Bank Limited, Indian Overseas Bank, IDBI Bank Limited
• Asset reconstruction companies: Asset Care & Reconstruction Enterprise (ACRE) Limited, Asset Reconstruction Co India Ltd (ARCIL)
• International institutions: DBS Bank India Limited, The Bank of New York Mellon

Corporate Insolvency Resolution Process Status

Jaiprakash Associates has been operating under the Insolvency and Bankruptcy Code 2016 since June 3, 2024, following an order from the National Company Law Tribunal, Allahabad Bench. The resolution process continues under the supervision of appointed Resolution Professional Bhuvan Madan.

The Committee of Creditors confirmed Bhuvan Madan's appointment as Resolution Professional during their second meeting held on July 30, 2024, with 87.72% voting share approval. All lenders are currently in the process of filing their claims, which remain under verification as part of the standard insolvency resolution procedure.

Regulatory Compliance and Disclosure

The monthly disclosure filing demonstrates the company's continued compliance with SEBI regulations despite operating under insolvency proceedings. The disclosure follows the specified Format C1 for default in loans, covering various types of obligations including term loans, working capital term loans, and fund-based/non-fund-based facilities. The filing was signed by Som Nath Grover, Vice President & Company Secretary, and countersigned by Resolution Professional Bhuvan Madan, ensuring proper authorization and regulatory compliance throughout the insolvency resolution process.