Alps Industries Limited has informed the Exchange regarding Board meeting held on Jun 27, 2025.
Awaiting price reaction for this filing.
Alps Industries' Board approved audited financial results for FY ended March 31, 2025, which had been deferred from a previous meeting on May 30, 2025. The company reported a consolidated net loss of Rs. 63.89 crores (standalone Rs. 63.99 crores), widening from Rs. 56.25 crores loss in FY24. Revenue from operations collapsed to Rs. 1.91 crores from Rs. 3.76 crores (~49% decline). The statutory auditor issued a qualified opinion because the company has not provided for ~Rs. 2,129 crores in waived interest and principal on secured loans. The company is under Corporate Insolvency Resolution Process (CIRP) since September 13, 2024, with Mr. Hemant Sharma as Resolution Professional and the Board of Directors' powers suspended. Total financial indebtedness stands at Rs. 891.70 crores, with the entire Rs. 668.19 crore loan amount in default. Negative net worth is Rs. 893.67 crores (consolidated). No dividend was recommended due to losses.
This is a deeply distressed company under active insolvency proceedings. Shareholders face extreme risk of total loss or severe dilution depending on the resolution plan approved by the Committee of Creditors and NCLT. The qualified audit opinion and negative net worth confirm severe financial instability, and the stock is likely suspended or on severe watch given CIRP status.