ALPS INDUSTRIES LIMITED INTIMATING THE EXCHANGE ABOUT THE QUARTER AND HALF-YEAR RESULTS FOR THE PERIOD ENDED 30-09-2025
Awaiting price reaction for this filing.
Alps Industries, currently under the Insolvency and Bankruptcy Code (IBC), submitted its Q2/H1 FY2026 results with the Board of Directors' powers suspended and run by Resolution Professional Hemant Sharma. Revenue for Q2 FY26 stood at Rs. 1,674.78 lakh (vs Rs. 1,574.51 lakh in Q2 FY25) and Rs. 3,371.78 lakh for the half year (vs Rs. 3,130.24 lakh). The company posted a net loss of Rs. 1,709.71 lakh for the quarter and Rs. 3,403.08 lakh for the half year on a standalone basis. The auditor issued a qualified review report as the company has not provided for interest and waived principal loan liabilities of Rs. 2,21,948.82 lakh under the earlier restructuring scheme; if recognised, losses would have ballooned to over Rs. 2.25 lakh crore. NCLT Allahabad approved the resolution plan on November 4, 2025, which is now under implementation, and books are prepared on a going concern basis in anticipation of this.
Resolution plan approval is a positive milestone for the IBC process, but the company continues posting losses and carries severely negative shareholder funds (other equity of minus Rs. 96,678.09 lakh). Shareholders face significant dilution or wipeout risk once the approved resolution plan is implemented, as massive unrecognised creditor claims will be settled.