Adani Power LimitedNSE: ADANIPOWER

Q3 FY25

· MarketScreener

January 29, 2025

To,

BSE Limited

National Stock Exchange of India Limited

P J Towers,

Exchange Plaza,

Dalal Street,

Bandra-Kurla Complex, Bandra (E)

Mumbai - 400 001.

Mumbai - 400 051.

Scrip Code: 533096

Scrip Code: ADANIPOWER

Dear Sir(s),

Sub.:

Outcome of the Board Meeting held on January 29, 2025 and

Submission of Unaudited Financial Results (Standalone and

Consolidated) for the quarter and nine months ended December

31, 2024 pursuant to Regulation 33 and other applicable

regulations of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015

With reference to the above, we hereby inform / submit as under:

  1. The Board of Directors of the Company ("the Board"), at its meeting held on January 29, 2025, commenced at 12:30 p.m. and concluded at 2.45 p.m., has approved and taken on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and nine months ended December 31, 2024 (the "Unaudited Financial Results"), along with the Auditors' Limited Review Report, as issued by the Statutory Auditors of the Company. Copy of the same is enclosed herewith as "Annexure A".
    The Unaudited Financial Results are also being uploaded on the Company's website at www.adanipower.com;
  2. Press Release dated January 29, 2025 on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and nine months ended December 31, 2024, is enclosed herewith as "Annexure B".
  3. The Board of Directors of Adani Power Limited has approved enhancement and combination of the previously approved fund-raising limit by way of non- convertible debentures ("NCDs") from Rs. 5,000 crores to Rs. 11,000 crores, which are to be raised through public issue or private placement, or a mix thereof, and which may be issued in one or more tranches, in accordance with applicable law and subject to receipt of requisite regulatory and other approvals; in supersession of the earlier Board Meeting Resolutions dated 28th October 2024;
  4. The Board of Directors has approved the raising of funds by way of issuance of such number of equity shares having face value of Rs. 10 each of the Company and / or other eligible securities or any combination thereof (hereinafter referred

Adani Power Limited

Tel +91 79 2656 7555

"Adani Corporate House"

Fax +91 79 2555 7177

Shantigram, Near Vaishno Devi Circle,

info@adani.com

S. G. Highway, Khodiyar,

www.adanipower.com

Ahmedabad-382421, Gujarat India

CIN : L40100GJ1996PLC030533

Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421

to as the "Securities"), for an aggregate amount not exceeding Rs. 5,000 crores or an equivalent amount thereof by way of qualified institutions placement ("QIP") or other permissible mode in one or more tranches and in accordance with the applicable laws, subject to the receipt of the necessary approvals including approval of the members of the Company and other regulatory / statutory approvals, as may be required.

The details in this regard, as required to be disclosed under Regulation 30 read with SEBI Circular dated 11th November 2024, are also enclosed herewith as "Annexure C".

Kindly take our submissions, made hereinabove, on record.

Thanking You.

YOURS FAITHFULLY,

FOR ADANI POWER LIMITED

DEEPAK SANATKUM AR PANDYA

Digitally signed by

DEEPAK SANATKUMAR PANDYA

Date: 2025.01.29 14:43:29 +05'30'

DEEPAK S PANDYA

COMPANY SECRETARY

MEM. NO. F5002

Encl.: as above

Adani Power Limited

Tel +91 79 2656 7555

"Adani Corporate House"

Fax +91 79 2555 7177

Shantigram, Near Vaishno Devi Circle,

info@adani.com

S. G. Highway, Khodiyar,

www.adanipower.com

Ahmedabad-382421, Gujarat India

CIN : L40100GJ1996PLC030533

Registered Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421

Annexure A

SR BC & CO LLP

21st Floor, B Wing, Privilon

Ambli BRT Road, Behind lskcon Temple

Chartered Accountants

Off SG Highway, Ahmedabad - 3B0 059, India

Tel : +91 79 6608 3900

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

Adani Power Limited

  1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Adani Power Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended December 31, 2024 and year to date from April 1, 2024 to December 31, 2024 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
  2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. 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 oflnterim Financial Information Performed by the Independent Auditor of the Entity" 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 infonnation 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 perfonned procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
  4. The Statement includes the results of the following entities:

Sr. No

1

2

3

4

e·

Name of enti

Adani Power Jharkhand Limited Pench Thermal Energy (MP) Limited

Kutchh Power Generation Limited Adani Power Dahe· Limited Adani Power Resources Limited Mahan Ener en Limited Mahan Fuel Mana ement Limited Alcedo Infra Park Limited

Relationshi

Wholl Owned Subsidia

Wholly Owned Subsidiary

Wholl Owned Subsidiar

Wholl Owned Subsidia

Subsidiar

Wholl Owned Subsidia1

Wholl Owned Subsidia1

Wholl Owned Subsidiar

SR BC & CO LLP, a Limited liability Partnership with LLP Identity No. AAB·4318

Regd. Office: 22, Camac Street, Block '81 , 3rd Floor, Kolkat;i-700 016

SR BC & CO LLP

Chartered Accountants

9

Chandenvalle Infra Park Limited

Wholly Owned Subsidiary

10

Emberiza Infra Park Limited

Wholly Owned Subsidiary

11

Resurgent Fuel Management

Wholly Owned Subsidiary

Limited

12 Mirzapur Thermal Energy U.P. Wholly Owned Subsidiary (w.e.f., June

Private Limited

2024)

13

Adani Power Global PTE Ltd

Wholly Owned Subsidiaiy (w.e.f., June 14,

2024)

14

Adani Power Middle East Ltd

Wholly Owned Subsidiary (w.e.f., August 26,

2024)

15 Korba Power Limited (earlier Wholly Owned Subsidiary (w.e.f., September

known as Lanco Amarkantak Power

6, 2024)

Limited)

16

Orissa Thennal

Energy

Private

Wholly Owned Subsidiary (w.e.f., September

Limited

27, 2024)

17

Anuppur The1mal

Energy

(MP)

Subsidiary (w.e.f., September 27, 2024)

Private Limited

18

Moxie Power Generation Limited

Associate (till August 30, 2024) and Subsidiary

thereafter

  1. We draw attention to Note 19 of the accompanying consolidated unaudited financial results. Pending final outcome I adjudications of the matters of investigations by the Securities and Exchange Board of India and based on management's assessment thereof as described in that note, no adjustments have been made to the accompanying consolidated financial results in this regard. Our conclusion is not modified in respect of the above matter.
  2. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review rep011s of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in tenns of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
  3. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of:
    • 13 subsidiaries, whose unaudited interim financial results include total revenues of Rs 3,371.96 crores and Rs 8,354.37 crores, total net profit after tax of Rs. 332.20 crores and Rs. 1,574.88 crores, total comprehensive income of Rs. 329.03 crores and Rs. 1,572.96 crores, for the quaiier ended December 31, 2024 and the period ended on that date respectively, as considered in the Statement which have been reviewed by their respective independent auditors.

The independent auditor's repo11s on interim financial results and other financial information of these subsidiaries have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries is 6i'ely on the rep011 of such auditors and procedures performed by us as stated in paragraph

�

SR BC & CO LLP

Chartered Accountants

8. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of:

  • 4 subsidiaries, whose interim financial results and other financial information reflect total revenues of Rs 8.74 crores and Rs 10.57 crores, total net profit after tax of Rs. 2.04 crores and Rs.3.85 crores, total comprehensive income of Rs. 2.04 crores and Rs. 3.85 crores, for the quarter ended December 31, 2024 and the period ended on that date respectively.

The unaudited interim financial results and other unaudited financial information of these subsidiaries have not been reviewed by any auditor(s) and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these unaudited interim financial results are not material to the Group.

9. Our conclusion on the Statement in respect of matters stated in para 7 and 8 above is not modified with respect to our reliance on the work done and the reports of the other auditors and the financial results and other financial information certified by the Management.

For S RB C & CO LLP

Chartered Accountants

ICAI Firm registration number: 324982E/E300003

jJ't-o

. . •.

Agrawal

per Navin

Partner

Membership No.: 56102

UDIN: 25056102BMMHCJ3795

Place of Signature: Ahmedabad

Date: January 29, 2025

adani

ADANI POWER LIMITED

Power

(CIN NO. : L40100GJ1996PLC030533)

Regd. Office: "Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad 382421, Gujarat.

Phone: 079•25557555; Fax: 079-25557177; Email : info@adani.com; Website: www.adanipower.com

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2024

Sr.

Particulars

3 Months

No.

ended

31.12.2024

(Unaudited)

  • Income

13,671.18

(a) Revenue from Operation

(Refer note 10)

(b)

Other Income (Refer note 1O)

1.162.26

14,833.44

Total Income

2

Expenses

(a) Fuel Cost

7,424.72

(b) Purchase of Stock-in-Trade/ Power for Resale

708.67

(c) Transmission

Charge

115.57

(d) Employee Benefits Expense

211.44

(e) Finance

Costs (Net)

956.53

(f) Depreciation 8- amortisation Expense

1,170.01

(g) Other Expenses

787,86

3

Total Expenses

10,774.80

Profit before Tax (1·2)

4,058.64

4

Tax Expense/ (Credit)

• Current Tax

221.94

• Tax Expense adjusted relating to earlier

years

0.02

•

Deferred Tax Charge/ (Credit)

896.61

Total Tax

Expense/ (Credit)

1,118.57

5

Net Profit

(3·4)

2,940.07

6

Other Comprehensive (Loss)

(a) Items

that will not be reclassified to Profit or Loss :

Remeasurement (Loss)/ Gain of defined benefit plans

(6.72)

1.03

Income Tax impact

(b) Items that will be reclassified to Profit or Loss :

Net movement on

Effective portion of Cash Flow Hedges

(2.27)

0.57

Income Tax impact

Total Other Comprehensive (Loss) (after tax) (a+b)

(7.39)

2,932.68

7

Total Comprehensive Income (after tax) (5+6)

Net Income

attributable to:

3,057.21

Equity holders of the parent

Non - Controlling interests

(117.14)

Other Comprehensive (Loss)

attributable to:

Equity holders of the parent

(7.39)

Non - Controlling interests

Total Comprehensive Income attributable to:

Equity holders of the parent

3,049.82

Non• Controlling interests

(117.14)

8

Paid up Equity Share Capital (Face Value � 10 per share)

3,856.94

  • Other Equity excluding Revaluation Reserve and Unsecured Perpetual Securities

10 Earnings per Share (EPS) (f) (Not annualised for the quarter and nine months) (Face Value f 10 per share)#

Basic 8- Diluted EPS (In�)

7.67

3 Months ended 30.09.2024

(Unaudited)

13,338.88

723.96

14,062.84

7,032.22

81.49

124.53

170.47

806.87

1,058.59

654.59

9,928.76

4,134.08

130.26

.

706.30

836.56

3,297.52

(14.62)

4.24

(5,73)

1.44

(14.67)

3,282.85

3,337.80

(34.28)

(14.67)

3,317.13

(34.28)

3,856.94

8.21

Ct in Crores)

Consolidated

3 Months

9 Months

9 Months

For the year

ended

ended

ended

ended

31.12.2023

31.12.2024

31.12.2023

31.03.2024

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

12,991.44

41,965.69

36,987.56

50,351.25

363.83

2,404.54

9,412.40

9.930.23

13,355.27

44,370.23

46,399.96

60,281.48

7,548.98

22,355.16

21,073.12

28,452.64

68,91

200.89

121.46

222.26

98.85

373.06

371.10

503.99

151,04

594,82

454.29

643.70

796.56

2.574.89

2.568.49

3.388.09

1.002.23

3,224.23

2,941.30

3,931.33

478,32

1.948.95

1,636.63

2,347.96

10,144.89

31,272.00

29,166.39

39,489.97

3,210.38

13,098.23

17,233.57

20,791.51

0.01

493.48

0.01

0.09

472.41

0.02

13.91

2,454.35

(857.99)

(51.28)

472.42

2,947.85

(857.98)

(37.28)

2,737.96

10,150.38

18,091.55

20,828.79

7.83

(19.02)

23.49

9.29

(1.95)

4.69

(5,65)

(2.33)

(8.33)

(0.91)

(40.13)

(46.04)

(2.45)

0.23

11.59

(15.01)

(22.29)

(27.49)

2,735.51

10,135.37

18,069.26

20,801.30

2,737.96

10,301.80

18,091.55

20,828.79

.

(151.42)

.

.

(2.45)

(15.01)

(22.29)

(27.49)

2,735.51

10,286.79

18,069.26

20,801.30

.

(151.42)

.

.

3,856.94

3,856.94

3,856.94

3,856.94

31,973.09

6.61

25.70

44.99

51,62

(Figures below � 50,000 are denominated with •)

#EPS has been calculated on net profit less distribution on unsecured perpetual securities for the period/ year whether declared or otherwise.

adani

Power

ADANI POWER LIMITED

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31st DECEMBER, 2024

  1. The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors of Adani Power Limited (the "Company" together with its subsidiaries, the "Group") in their respective meetings held on 29th January, 2025.
  2. The Statutory auditors have carried out limited review of the consolidated financial results of the Group for the quarter and nine months ended 3pt December, 2024.
  3. Revenue from Operations on account of Force Majeure/ Change in Law events and Interest Income on account of carrying cost in terms of Power Purchase Agreements ("PPAs") / Supplemental Power
    Purchase Agreements with various State Power Distribution Utilities is accounted for/ recognised by the Group based on best management estimates following principles of prudence, as per the orders I reports of Regulatory Authorities, the Hon'ble Supreme Court of India ("Hon'ble Supreme Court") and the outstanding receivables thereof in the books of account have been adjusted / may be subject to adjustments on account of consequential orders of the respective Regulatory Authorities, the Hon'ble Supreme Court and final closure of the matters with the respective Discerns.
    In certain cases, the Group has claimed compensation from the Discerns based on management's interpretation of the regulatory orders and various technical parameters including provisional methodology for coal cost recovery, which are subject to final verification and confirmation by the respective Discerns, and hence, in these cases, the revenues have been recognised during various financial years/ periods, on a prudent basis with conservative parameters in the books. The necessary
    true-up adjustments for revenue claims (including carrying cost/ delayed payment surcharge) are made in the books on final acknowledgement / regulatory orders I settlement of matters with respective Discerns or eventual recovery of the claims, whichever is earlier.
  4. For power supplied from Udupi thermal power plant ("Udupi TPP"), the Company raises invoices on its customers ("Karnataka Discerns") based on the most recent tariff order I provisional tariff approved by the Central Electricity Regulatory Commission ("CERC"), as modified by the orders of Appellate Tribunal for Electricity ("APTEL") / CERC to the extent applicable, having regard to mechanism provided in applicable tariff regulations and the bilateral arrangements with the Discern. Such tariff order is subject to conclusion of final tariff order in terms of Multiyear Tariff ("MYT") Regulations at end of tariff period of every 5 years.
  5. (a) In the matter of non-availability of coal due to cancellation of Lohara coal block for the Company's 800 MW power generation capacity at Tiroda thermal power plant ("Tiroda TPP"), the Hon'ble Supreme Court vide its order dated 20th April 2023, upheld the orders of Maharashtra Electricity Regulatory

Commission ("MERC") dated 5lh September, 2019 and the Appellate Tribunal for Electricity ("APTEL") order dated 5th October, 2020, granting compensation (including carrying costs thereon) towards

  • additional coal cost for the use of alternative coal.
    1. Similarly, in a matter relating to shortfall in availability of domestic coal under New Coal Distribution Policy ("NCDP") and Scheme of Harnessing and Allocating Koyala (Coal) Transparently in India ("SHAKTI") policy of the government, for the Company's 2500 MW power generation capacity at Tiroda TPP, Hon'ble
      Supreme Court vide its orders dated 3rd March 2023 and 20th April 2023, upheld the MERC's orders dated 7th March, 2018 and 7th February, 2019, and the APTEL's orders dated 14th September, 2020 and 28th September, 2020 respectively granting compensation (including carrying costs thereon) towards

dditional co'?I cost for the use of alternative coal.

.......-:::::==::::::--- .....

adani

Power

  1. Based on the various regulatory orders in respect of matters stated in (a) and (b) above, the Company has continued to recognise tariff compensation claims towards additional coal cost oft 871.82 Crores and t 2,924.55 Crores during the quarter and nine months ended 31st December, 2024 respectively (includes tariff compensation claims oft 366.26 Crores pertaining to earlier years).

Further, during the quarter and nine months ended 31st December, 2024, the Company has also accounted late / delayed payment surcharge ("LPS") oft 17.01 Crores andt 359.04 Crores respectively from Maharashtra State Electricity Distribution Company Limited ("MSEDCL"), under other income, based on Company's policy relating to recognition of late/delayed payment surcharge on acknowledgement or receipt, whichever is earlier.

  1. Apart from above, in one of the matter relating to cost factor for computation of tariff compensatory claim, on account of consumption of alternate coal, based on the claim amount billed by the Company,
    MSEDCL filed an appeal with APTEL although the Company has favorable tariff compensation order from MERC dated 11th September, 2021 in the matter. APTEL vide its order dated 9th July, 2024 dismissed the appeal filed by MSEOCL. Subsequently, MSEOCL filed an appeal with Hon'ble Supreme Court in the matter which is pending adjudication. Further, during the quarter ended 3pt March, 2024, MSEDCL has also filed a petition with MERC w.r.t. the interpretation of its earlier order relating to compensation for in-land transportation cost factor for transfer of domestic coal.

Currently, the Company has continued to recognise the compensation claim on best estimate basis pending settlement of petition and does not expect any adverse outcome in the matter.

6. (a) In respect to Company's Mundra thermal power plant ("Mundra TPP"), the Company and Gujarat Urja Vikas Nigam Limited ("GUVNL") had entered into an additional Supplemental Power Purchase Agreements ("SPPAs") dated 30th March, 2022 to resolve all pending matter / dispute relating to Bid 1 and Bid 2 Power Purchase Agreement ("PPA / SPPA"), towards supply of 2434 MW of power and thereby approached CERC to determine the base energy tariff rates for power sales under Bid 1 l?r Bid 2 SPPAs, with retrospective effect from 15th October, 2018, for further submission to the Government of Gujarat ("GoG"). CERC vide its order dated 13th June 2022 recommended the base energy tariff rates for final approval of GoG which is still pending as on reporting date. CERC order allows the Company and GUVNL to mutually agree on adoption of six monthly or monthly CERC escalation index to apply over base energy tariff rate as on October 2018 as per the provisions of earlier SPPA dated 5th December, 2018 having impact on determination of subsequent period energy rates.

  1. Pending approval of the base energy tariff rate by GoG and also the mutual agreement between the Company and GUVNL as regards adoption of monthly / six-monthly CERC escalation index, the Company has been supplying power to GUVNL based on certain mechanism whereby actual fuel cost incurred gets
    pass through in the billing of energy charges, from pt March, 2022 onwards till date as per understanding with GUVNL for the purpose of additional Supplemental PPA dated 30th March, 2022. The Company also realised significant amounts of invoices billed to GUVNL, although there are certain deductions made by GUVNL which are pending reconciliation / settlement. During the previous year, the Company received communication from GUVNL seeking refund of z 1,172.69 Crores towards energy charges on account of adjustment of coal cost in respect of power supplied during 15th October, 2018 to 3, st March, 2023 considering CERC base rate order of 13th June, 2022. The Company has not accepted the GUVNL claim, but based on conservative parameters, made one time provisional adjustments in the revenue of t 1,172.69 Crores during the quarter ended 30th June, 2023.

,....

adani

Power

The Company continues to recognise energy charges revenue as per amount billed based on actual fuel costs since the date of SPPA, pending approval of base energy tariff and agreement between the Company and GUVNL regarding adoption of method of CERC escalation index, which has impact on the Company's energy charges claims, depending on the trend of coal price movement. The escalation index has positive impact on energy charges as at reporting date but Company continues to invoice energy charges on actual fuel cost basis. The Company does not expect any adverse outcome in this matter.

  1. The Company has claimed compensation for alternate coal cost incurred for supply of power under 1,200 MW of Supplementary Power Purchase Agreement (SPPA) with Haryana Discoms. The Haryana Discoms have sought certain information to validate such claims. Pending final resolution of the matter, Haryana Discoms continue to pay compensation claim equivalent to 50% of the claims made by the Company from June 2023 till date. The Company expects a favourable outcome in the matter and has accordingly recognised revenues of { 782 Crores during the current quarter, on best estimate basis, which has been fully realised.
  2. In respect of the Company's 40 MW solar power plant at Bitta, in the matter of alleged excess energy
    injected in terms of the PPA, GUVNL has withheld { 72.10 Crores against power supply dues during the year ended 3,st March, 2022. Gujarat Electricity Regulatory Commission ("GERC") vide its order dated yd November, 2022 directed GUVNL to make payment of the amount withheld within three months from the date of order along with late payment surcharge as per PPA. However, GUVNL has filed an appeal with APTEL against the said order of GERC and the matter is pending adjudication. The Company, as per interim order of APTEL dated 28th February, 2023, has received { 51.75 Crores being 75% of the withheld amount subject to outcome of appeal with APTEL. The management, based on GERC order, expects favourable outcome in the matter.
  3. In respect of the Company's Kawai Thermal Power Plant ("Kawai TPP"), in the matter relating to shortfall in availability of domestic linkage coal, the Hon'ble Supreme Court vide its order dated 3,st August, 2020 has admitted all tariff compensation claims for additional coal costs incurred for power generation and the Company continues to realise the claim amount towards compensation.
    During the previous year, Rajasthan Urja Vikas and IT Services Limited ("RUVITL") (formerly known as Rajasthan Urja Vikas Nigam Limited) has filed a fresh petition before RERC primarily challenging the methodology and operating parameters considered while arriving at the tariff compensation claim for additional coal cost incurred for power generation by the Company which had earlier been settled by RUVITL in March, 2022 based on Hon'ble Supreme Court order dated 31st August 2020. The RERC vide its order dated pt September 2023 dismissed the petition of RUVITL and giving RUVITL the liberty to raise the issue before appropriate legal forum in terms of order passed by Hon'ble Supreme Court dated 19th April 2022 in the contempt petition. RUVITL has now preferred an appeal with APTEL against the ruling of RERC. Pending conclusion of the matter with APTEL, the Company continues to recognise the revenue based on the principle as approved in the order passed by the Hon'ble Supreme court.
  4. Revenue from operations and other income (including amounts disclosed separately elsewhere in other notes) includes following amounts pertaining to prior years, based on the orders received from various regulatory authorities such as MERC / CERC, APTEL, the Hon'ble Supreme Court and reconciliation with Discoms relating to various claims towards change in law events, carrying cost thereon and delayed payment interest.

(f in Crores)

,...

Particulars

3 Months

3 Months

3 Months

9 Months

9 Months

For the

ended

ended

ended

ended

ended

year ended

31.12.2024

30.09.2024

31.12.2023

31.12.2024

31.12.2023

31.03.2024

979.35

389.76

(151.90)

1,607.85

608.04

683.43

420.32

207.78

101.70

811.71

8,619.31

1,399.67

597.54

(50.20)

2,419.56

9,227.35

adani

Power

  1. The Company had sought cancellation of the Jitpur coal block and requested the Nominated Authority, Ministry of Coal, New Delhi, to cancel the Vesting Order, vide its representation dated 31st October, 2020 and had also requested to authorities for refund of the costs of z 138.66 Crores incurred by it and for release of the performance bank guarantee of z 92.90 Crores given to the Nominated Authority. The Nominated Authority vide its letter dated 17th September, 2021, had accepted the surrender petition by the Company and ordered for invocation of bank guarantee along with obligation to fulfil antecedent liability. On 29th September 2021, the Hon'ble Delhi High Court, in response to petition filed by the Company, has stayed the invocation of the said performance bank guarantee and restrained the Nominated Authority from taking any coercive steps in the matter. The said Writ Petition is yet to be adjudicated by the Delhi High Court. Meanwhile, the Hon'ble Delhi High Court vide its order dated 3rd March, 2022, had directed the Nominated authority to return the said performance bank guarantee within one week from the date of execution of Letter of Intent of "Coal Mines Production and Development Agreement" ("CMPDA") with a new bidder and to present the said CMPDA before the Delhi High Court. The Nominated Authority has concluded the fresh e-auction of Jitpur Coal Block on 13th September, 2022_. Pursuant to this, the CMDPA has been signed between the new bidder and the Nominated Authority, Ministry of Coal on 13th October 2022. The Nominated Authority is yet to submit CMPDA with new bidder with Delhi High Court in the matter. The Company expects a favourable resolution for release of Performance Bank Guarantee.
    The Nominated Authority, has issued the Final Compensation· Order dated 13th November, 2024 and the Company is in process of submitting the required documents with the Nominated Authority, for final settlement and closure of the matter.
  2. The National Green Tribunal ("NGT") in a matter relating to non-compliance of environmental norms relating to Udupi thermal power plant ("Udupi TPP") directed the Company vide its order dated 14th March, 2019, to make payment of z 5.00 Crores as an interim environmental compensation to Central Pollution Control Board ("CPCB"), which was deposited by the Company with CPCB under protest, in April 2019 and expensed.
    NGT vide its order dated 3,st May, 2022 settled the matter and directed the Company to deposit an additional amount of z 47.02 Crores with CPCB within 3 months. The Company has recognised expense provision in the books on a conservative basis, although, the Company has filed petition with the Hon'ble Supreme Court dated 2eh August, 2022 against the above referred NGT order. The Udupi TPP continues to operate in compliance with all the conditions under Environment Clearance as at reporting date.
  3. During the current quarter and nine months ended 31st December, 2024, the Company has repaid Unsecured Perpetual Securities of z 376.91 Crores and z 3,048.77 Crores to its holders and also made distribution amounting to z 63.09 Crores and z 517.08 Crores to the holders of Securities respectively.
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