1. Considered and approved the unaudited standalone and consolidated financial results for the quarter ended June 2025. 2. Approval of Directors Report for the FY 2024-25. 3. Approved ....
Awaiting price reaction for this filing.
ARSS Infrastructure Projects, under Corporate Insolvency Resolution Process (CIRP) since November 30, 2021, submitted its unaudited Q1 FY26 results approved by Resolution Professional Mr. Uday Narayan Mitra. Total revenue from operations collapsed to Rs 1,868.19 lakhs from Rs 8,677.53 lakhs in the year-ago quarter, a drop of about 78%. The company posted a standalone net loss of Rs 11,552.48 lakhs (vs profit of Rs 56.55 lakhs in Q1 FY25), driven mainly by a one-time write-off of Rs 110.48 crores related to the settlement of an arbitration award (Niraj Cement Structurals vs Jaipur Development Authority). Loss per share stood at Rs (50.81). The auditor issued a qualified conclusion citing non-compliance with Ind AS-115 on contract-wise surplus recognition, and flagged an emphasis of matter on CIRP status and the large write-off.
This is materially negative for shareholders — the company is already in a multi-year insolvency process, revenue is in steep decline, and a massive one-time write-off has pushed quarterly losses into the hundreds of crores, severely eroding equity (other equity is now negative at Rs (18,652.35) lakhs standalone). Shareholders should brace for continued uncertainty under CIRP with potential dilution or resolution plan outcomes weighing on the stock.