Alps Industries Limited has informed the Exchange regarding 'limited review report'.
Awaiting price reaction for this filing.
Alps Industries has filed the auditor's limited review report on its unaudited financial results for the quarter and nine months ended December 31, 2025. The auditor (O Aggarwal & Co.) issued a qualified review conclusion on the standalone results, stating that except for the effects of the matter noted in paragraph 3, nothing indicated material misstatement. The auditor flagged an Emphasis of Matter referring to Note No. 3, which describes the implementation of the company's resolution plan approved by the National Company Law Tribunal (NCLT) and its continuing impact on the financials. On the consolidated side, the auditor also drew attention to the NCLT resolution plan and noted that the interim results of subsidiaries Alps Energy Private Limited and Alps USA Inc. were not reviewed by their auditors — Alps Energy reported NIL revenue and a Rs. 0.60 lakh net loss. The auditor's conclusion remained unmodified in both reports.
The NCLT resolution plan reference confirms the company has been through India's insolvency resolution process, signalling historical severe financial distress, with the plan's implementation still affecting current results. The qualified standalone review and un-reviewed subsidiary numbers may concern investors looking at earnings quality, though the unmodified conclusion means the financials are broadly acceptable as presented.