Arshiya Limited has submitted to the Exchange Unaudited Financial Results (Standalone) along with the Limited Review Report thereon for the Quarter and half year ended September 30, 2025.

Arshiya Limited, currently under Corporate Insolvency Resolution Process (CIRP) since April 2024, has submitted its Q2 and H1 FY26 standalone financial results. The company reported revenue of Rs. 450 lakhs (Q2) and Rs. 900 lakhs (H1), with a net loss of Rs. 151.15 lakhs (Q2) and Rs. 114.37 lakhs (H1). The balance sheet shows severe distress with negative equity of Rs. 1,44,144.50 lakhs and total liabilities of Rs. 2,89,802.33 lakhs. The statutory auditors, M/s ARTHA & Associates, have issued a Disclaimer of Conclusion rather than a standard review opinion due to multiple material uncertainties. Key audit concerns include recognition of Rs. 900 lakhs revenue from Ascendas Panvel FTWZ without an executed contract or customer acceptance, non-recognition of corporate guarantee liabilities of Rs. 1,03,850 lakhs shown as contingent liability, absence of impairment assessments on PPE (Rs. 56,819 lakhs) and investments/loans to subsidiaries (Rs. 57,539 lakhs), mass employee attrition (50 of 71 employees resigned), and non-actuarial valuation of employee benefit obligations. Additionally, sub-lease agreements were terminated and subsidiaries ANFTWZ and NCR Rail are also under CIRP.