JAIPRAKASH POWER VENTURES LIMITED. Ref: JPVL:SEC:2017 13% February, 2017 ‘The Manager, BSE Limited, Listing Department, 25% Floor, New Trading Ring, National Stock Exchange of India Ltd., Rotunda Building, ‘Exchange Plaza", C-1, Block G, PJ Towers, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai -400 051 Scrip Code: 532627 Scrip Code: JPPOWER Sub: Unaudited Standalone Financial Results of the Company for the quarter and nine months ended 31:t December, 2016 Dear Sirs, ” In terms of Clause 33 (3)(d) of Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Unaudited Standalone Financial Results of the Company for the quarter and nine months ended 31% December, 2016, as approved by the Board of Directors of the Company in its meeting held on 13% February, 2017, alongwith Limited Review Report of Statutory Auditors M/s. R. Nagpal Associates, Chartered Accountants, New Delhi, ‘Thanking you, Yours faithfully, For JAIPRAKASH POWER VENTURES LIMITED mn bh (MLM. SIBBAL) Vice President & Company Secretary s above Corp. office Sector 128, Nowa ~ 201304 Uttar Pradesh (India) ke Ph. +91 (120) 4608000, 2470800 Fax : +91 (120) 4609464, 4605496 1294. Office Gomplex of Jaypee Nigrie Super Thermal Power Plant, Nigre, AYPE Tehsil Sarai, District Singrau ~ 486669 ( Madhya Pradesh } E Ph: #91 (7801) 286021-39 Fax: +91 (7801) 286020 E-mail i lina, : {vl investor@jalingia.co in “GROUT Website ‘ww jppowerventures.com CIN: L40101HP1994PLC015483JAIPRAKASH POWER VENTURES LIMITED eget ofc: Complex of Jaypee te Super Thea Power Pan Nia, Tes Sra, De Siar - 48660, usa Pradesh) “Corporaa Oe: Sacer 128 Nelda 20196, ist. Gautam Buh Nagar (U.P) ‘abt: werajppowervertrorcon emit pninestoratndenin CW: LAGIOMNPYOS4PLCHNSA83 Re. in Lacs except Shares and EPS = ‘Slandaione partie nda Wine Wontha Ended] aaa 30.00.2016 ETRFEOIN saz2016 SAB 2015 Unaudited Unaudited Unaueled Unaudited Unaudited Operon ——— a) | Saee/caa ton OpTERS WET aT ORE BH) [Captive transfor of coal/energy to thermal pl a rom Operations (arbeena) — fis 150,092 45018 ‘ro.248 [Proit/ iss) from ordinary activities before finance costs and exceptional | toms (34). Finonce cose = — are Profit (Loss) Wom ovina ai 0 [tax expense cero a [Doe tx rovoralicharge) [et Proft/ (Loss) fom ordinary activites ator tax (810) [esaordiary ome [Net Profit (Loss) ore pevod (11973) uty Shao Copal Face Value oR [Resones xcing Revaunton Resores at po! Balai Shes of pews scomingyon | leamings Pe Share (ire aaoiinay amd) (REY (7,206)|- 293,800) "293,800 )|Eamnings Per Share (aor exvaorcinary tome) (Re) lease EPS [Sieg EPS “ieNotes: 11 The financial results forthe quarter/perod ended 31.12.2016 are in rospect of 400 MW Jaypee Vishnuprayag H.E, Plant, $00 MW Jaypeo Bina Thermal Power rant, 1320 MW Jaypee Nigrie Super Thermal Power Plant (JNSTPP)}, Jaypee Nigre Cement Grinding Unit and Amelia (North) Coal Mine, The resus for the period ended 31.12.2016 also included operating resus for 300 MW Baspa I H.E, Pant anc 1081 MW Karcham Wangloo HE. Plant up to 31st August, 2015, as the Company concluded the Salo of these Plans fo JSW Lic. we. 01.09.2015, Hence the figures ofthe current Nine Months period are ‘ot comparable with figures ofthe cocresponding Nine Months period inthe previous year. Previous quarter’ period figures have been regrouped / reclassified wherever necessary ‘The Company now has aggregate power generation capacity of 2220 NAW comprising of Hydro (400 MW ) and Thermal (1820 MW). 2 in respect of Hysro PowerPlant, the water availabilty inthe fret half of the flxancal yoar is higher ae compared othe second half, As such, the power generation in the fist lwo quarters is about 70% ofthe annual power generation, while balance 30% is generated in tht and fourth quarter. ‘3. The results during the current quarter have been impacted on account of () The current revenue of UNSTPP is based on provisional fart penting final tariff determination), non avaliablty of tong term PPA) and non availabilty of transmission cordor for power tod up on short term bast. (i) The average ralo of sala of Merchant power has come down to Rs.2.52 per uni in current quarter as compared to Rs. 8.08 per unit in corresponding previous quarter. (i) Generation at Bina TPP has been adversely fected due 1 backdown instructions from SLD from tine to time because of lower demand of Power. (wv) in the revised tariff guidelines adopted by MPERC for FY 2016-17 to FY 2018-19, Annual Fixed Charges (AFC) have been capped al Normative Availablity (85%) and the meontives beyond Normative Availabilty have been done away wth 4 Consequent tothe requisite approvals of the londer(e), the Jolnt Lenders Forum (JLF) ln its mesting held on 21st December, 2016 approved the Stalogie Debt Restructuring (SOR) wit reference date boing 25th July, 2016. 5 The company has adopted indian Aecoutning Standards (‘ind AS") from 1st Apri 2016 and accordingly these financial resuits have been prepared in accordance with the seoagniion and measurement Principles laid down in the Ind AS 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act 2013 read with the relevant rules issued thereunder and the oer accounting principles ‘generally accepted in india, Financial resus for ai the periods preconted have been prepared in accordance with the recognistion and measurement prinipes of Ind AS 34 ‘The Ind AS Compliant financial results for corresponding previous quarier and period ended 31.12.2015 have not been audited or reviewed by Statutory Auditors and has been presented based on the information complied by management alter exeresig due dilgence and making Necessary Ind AS adjustment to ensure a true and fai view ofthe results in accordance wih Ind AS and as per exemption ‘iven in para 26.1 (i) of the SEB! circular no, CIRICFDIFACIE22016 dated 05.07.2016 ‘The Ind AS compliant financial results for previous year ended Sst March 2016 have not heen provided, as per the exemption given in para 2.6.1 (li) ofthe SEDI circular no, CIRICFDIFACIE2/2016 dated 05072016, Reconciliation of financial results fr the quarter! poriod ended 31st December, 2016 and 31st December, 2016 as per earl Indian Gonerally Accoplable Accounting Principles (GAAP) vis a vis Ind AS compliant are as under a. Lace [Description of GAAP Adjustment — ~ orihe quater | Forthe quarir | —Forthepaiod | ~For the peroa cended 31122016 | ended 31.12.2015 | ended 311122016 | ended 31 122015 Net Profit /(Loss) under Pravious Indian GAAP (1,136) (14,028)| (65,003) 5.036 (Other income: Notional interest income on Debt portion of tvestinent iv Optionally convenible Preference” Shares on) wa a5) 2.308 lamortised cost basis using eflactve rate of interest |Amortsation of Deferred Liabilty arising out of reducing upfront fee from loan taken due to eomrseponding| ~ 137 _— ~ 1,084 ___ 966 2,996, 2724of upont fee Imerest as againet contractual interest rate = FRevorsal of actual upiront fe paid/expensed al rom prepaid expanses due to adjustment under 3(@) above Prior period income [Deferred Tax charge vevereal) due fo nd AS ad ~ |€ompensation paid to JSW G00) eat) 3) (aan 2.601 isn} a aan 5.763) (i2si) a asa) 2) 1,900] 2.447) (i583) 1.584) [Raiivay maintenance charges of Arneia Coal GAAP, now amortied as per Ind AS under the head Depreciation, lease rent und tnd AS. - (Gain on sale of Securities to JSW Ld of Re.102.60 Cre tealed as “Exceptional lem a6 per Ind AS, ao] |comparod to cari considered as Other income, atod ae excoptonal ism which was earl Sonéldared as Era ordinary item Diluod Earnings per Sharo as on 31st Docomber, 2016 has boon calculated on the basis of 200,25,94,743 Eauity Shares after Including 5,48,3%,659 Equity Shares whlch could be ated tothe Foreign (Currency Convertible Bondholders assuming Bondholder exercise the conversion option of Bonds into Equity Shares. ‘The above unaualied financial results for the quarterperiod ended 31st December, 2016 have been reviewed by Statutory Auditors, Audit Committee and than approved by the Board of Doctors a their respecte maetings hold on the 13th February, 2017. PLACE Noida DATE 13th February, 2097 For and on behalf of the Board MANOS GAUR. ‘CHAIRMAN, DIN 00008480 MiSTANDALONE UNAUDITED SEGMENT.WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER / NINE MONTHS ENDED 31ST DECEMBER, 2016 (Rs. in Lac) Quarter Ended Nine Months Ended Particulars 31.12.2016 | 30.09.2046 | 31.12.2015 | 31.12.2016 [31.12.2015 ‘Unaudited | Unaudited | Unaudited | Unaudited | Unaudited 7 [Segment Revenue i) Power: _ 70558 | 67,102] 81482 213,965 | 313,268 i) Coal 463 | 9103] 7,526 | 30.576 | 15.300 i) Other 1a13| 1.786] _3.966| 4.016 | 18.55: [Total __ 0,834 | 7,901 | 92,944 | 248,557 | 347,411 Less : Inter Segment Elminations eae} e142 | 7.476 | 30,631 540 | [Total Sales /Income from Operations 72,358 | 68,848 | 65,468 | 247,926 | 334,874 2 [Segment Results = [Profit from Operations before finance] Icharges, depreciation and amortisation, lexceptional items and tax i) Power zegor | 23,703| 36371 | 77,503 | 208,478 i) Coal 214g| 5323 2.415, 8.642 | 4.708 ii) Other ‘or2| 1433] _2.073| 2.128 | 72,342, [Total —__|28.968 | 30,459 | 30.850 | 68.363 | 225.469 Less - [a] interest Expenses ayia | 803 | aeitr | ia S13 | 788,025 |b] Depreciation and Amorisation 12.776| 11,972] 12.310] 36,704| 44,360, Total 57.404 67,775| 58.427 | 172,217 | 232,416 [Profit from Operations before exceptionall (31,526) _(27.316)/ (18,668) (63.854) (6.946) items and tax | Exceptional Exraorainary tems a - ea] | a 8 Profit from Operations before tax (Gi,568)| —(@7.316)| (18,384)| — 183.696)| (1502) income tax (14.272)| (14.149) 6 .803)] __(30.817)| _ 23.500) Profitiloss) from Operations after tax | (17,206)| (16.167)| _(11,581)| (68.078)| 71,988 3 [Capital Employed = a [Segment Assots [i Power 1,630,220 | 7,628,440 | 7,661,105 | 7,630,220 | 7,861,708 it) Goal 63,602 | 57,803] 68,355] 3,602 | 58.355 i) Other 750,185 | _734.914 | 724,081 | 750,185 | 724,081, Total 2,434,007 | 2,422,247 | 2,443,550 | 2,434,007 | 2,443,550 b [Segment Liabilities — li) Power 302,708 | 260,264 | 293,626 | 502,708 i) Coal _ |_25.683| 15.477 | 23.919 | i) Other 19210 | 15,662 | 23.171 Total Liabilities 304,147 | 264,885 | 349,800 © [Capital Employed 2,084,207 | 2,116,100 | 2,188,565 | 2,084,207 | 2,108,565 ae11/1018, VASANT KUNA, NEW DELS 110 070 ‘YELBPHONE 41082626 R. NAGPAL ASSOCIATES PAX 26148150 CHARTERED ACCOUNTANTS EMAIL : ravinagpalavsni.net vavinagpal@maca.in Independent Auditor's Review Report ‘On Review of Interim Financial Results To the Board of Directors of JAIPRAKASH POWER VENTURES LIMITED 1. We have reviewed the accompanying Statement of unaudited financial results of JAIPRAKASH POWER VENTURES LIMITED (the Company) for the quarter and nine months ended 31" December 2016 {the Statement), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No CIR/CFD/FAC/62/2016 dated July 5, 2016 ("the Regulations"). This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared on the basis of the related interim financial statements in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting”, prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there-under and other accounting principles generally accepted in India ("IND AS 34"). Our responsibilty is to issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE} 2410, “Review of Interim Financial Information Performed by the independent Auditors 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 misstaternent. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit, We have not performed an audit and, accordingly, we do not express an audit opinion. 3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited financial results prepared in accordance with recognition & measurement principles laid down In IND AS 34 has not disclosed the information required to be disclosed in terms of the Regulations, Including the manner in which it is to be disclosed, or that it contains any material misstatement. 4. We have not audited nor reviewed the financial results and other financial information for the corresponding quarter and nine months ended 31" December 2035 which have been restated as per IND ‘AS 34 and is presented solely based on the information compiled by the Management For R. Nagpal Associates Chartered Accountants Firm Registration No, 002626N ¢ LAn~ And i (CA, Ravinder Ni Partner Membership No, 081594 Place: Noida Date: 13" February 2017