ALPS INDUSTRIES LIMITED has informed the stock exchange in regards with filing of Financial Results for the quarter and period ended 31, March, 2025.
Awaiting price reaction for this filing.
Alps Industries has submitted unaudited financial results for Q4 and FY ended 31 March 2025 as the company is currently under Corporate Insolvency Resolution Process (CIRP) since NCLT's order dated 13 September 2024, with Mr. Hemant Sharma as the Resolution Professional. The company reported zero revenue from operations for the year (vs ₹190.93 lakh last year), with total income of just ₹60.85 lakh. Standalone net loss widened to ₹(6,399.04) lakh from ₹(5,623.85) lakh, while finance costs surged to ₹6,337.10 lakh. The balance sheet shows deeply negative other equity of ₹(93,275.01) lakh and total borrowings of ₹89,169.96 lakh, while total financial indebtedness of ₹891.70 crore is entirely in default. The previous auditor's report carried a qualification noting unprovided liability of ₹196,479.87 lakh on waived interest/principal, which if recognised would push the FY loss to ₹219,316.30 lakh. Audited results are deferred and a board meeting has been scheduled for 27 June 2025.
The company is in severe financial distress under IBC, with wiped-out shareholder equity, full debt default, and massive unprovided contingent liabilities that could multiply losses several-fold. Shareholders face extreme risk of total loss as the outcome of the CIRP and any approved resolution plan will determine the future of the company.