Alps Industries Limited has informed the Exchange regarding Board meeting held on Jun 27, 2025.
Awaiting price reaction for this filing.
Alps Industries' board (powers suspended) and Resolution Professional approved audited results for FY25 on June 27, 2025, after the matter was deferred from the May 30, 2025 meeting. The company reported a standalone net loss of Rs. 6,399.04 lakh and a consolidated net loss of Rs. 6,388.52 lakh, with zero revenue from operations (vs Rs. 190.93 lakh in FY24). Total equity is deeply negative at Rs. -89,363.60 lakh, and the company is under CIRP since NCLT's September 13, 2024 order, with Edelweiss ARC (holding 99%+ of secured debt) having filed the insolvency petition. The auditor issued a qualified opinion because the company has not provided for Rs. 212,917.26 lakh of waived interest/principal obligations; if recognized, the FY25 loss would balloon to roughly Rs. 2,19,316 lakh. Total outstanding debt of Rs. 668.19 crore is entirely in default, and no dividend has been recommended. Resolution plans are pending approval from the Committee of Creditors and subsequently the NCLT.
Extremely negative for shareholders — the company is effectively insolvent under IBC, has negative net worth, zero operating revenue, and the true loss (including unprovided waived liabilities) is over 30x the reported number. Existing equity is likely to be heavily diluted or wiped out depending on the resolution plan approved by NCLT; the stock remains a high-risk distressed asset.