Alps Industries Limited has informed the Exchange regarding Outcome of Board meeting held on May 30, 2025.
Awaiting price reaction for this filing.
Alps Industries informed exchanges that its Board meeting on May 30, 2025 considered and adopted unaudited financial results for FY ended March 31, 2025, but the meeting was deferred because audit reports had not been received by closing time. Standalone net loss for FY25 stood at Rs. 6,399.04 lakh and consolidated loss at Rs. 6,388.52 lakh, against zero revenue from operations (vs Rs. 190.93 lakh in FY24). The company is currently under Corporate Insolvency Resolution Process (CIRP) since NCLT admitted an IBC Section 7 petition by Edelweiss ARC (99% secured lender) on September 13, 2024, and the Board's powers are suspended with a Resolution Professional now managing the company. Total financial indebtedness is Rs. 891.70 crore, with Rs. 668.19 crore in defaults on bank loans, while other equity is fully eroded at negative Rs. 89,367.09 lakh. A prior audit qualification of Rs. 196,479.87 lakh (unprovided liability) remains unaddressed, which if recognised would push losses to Rs. 2.19 lakh crore.
This is a deeply negative filing for shareholders — operations have effectively halted, equity is completely wiped out, the company is in insolvency with a suspended board, and audit reports are still pending. Stock remains speculative, hinging entirely on approval of a resolution plan by NCLT, with potential further liabilities of ~Rs. 1,996 crore if restructuring fails. Existing shareholders face near-total loss risk.