Arshiya Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
ARSHIYA · price
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Arshiya Limited, currently under Corporate Insolvency Resolution Process (CIRP) since April 2024, has filed its Q1 FY26 (June 2025) standalone results with a net profit of Rs. 36.78 lakhs versus a massive loss of Rs. 99,759.94 lakhs in Q1 FY25. The statutory auditor has issued a rare 'Disclaimer of Conclusion' citing 18 material grounds, including inability to verify revenue of Rs. 450 lakhs from Ascendas Panvel FTWZ Limited (raised without a formal contract), unverified corporate guarantee exposures of Rs. 1,03,850 lakhs, unimpaired PPE of Rs. 56,971.87 lakhs and inventory of Rs. 16,505.97 lakhs, and non-recognition of interest on financial liabilities post-CIRP. The company also disclosed that 50 of 71 employees resigned abruptly in July-August 2024, causing critical manpower shortages. Four subsidiaries including ANFL and NCR Rail are also under CIRP. A prior Scheme of Arrangement had to be reversed (restated) after the resulting company entered CIRP.
This filing signals extreme financial distress - the auditor's disclaimer indicates the financial statements cannot be relied upon. Shareholders face extreme risk as the company is under insolvency proceedings with massive off-balance sheet contingent liabilities, operational disruptions from employee exodus, and termination of key sub-lease agreements affecting warehouse operations.