ARSHIYA: Unaudited Financial Results (Standalone) along with the Limited Review Report thereon for the Quarter ended June 30, 2025.
ARSHIYA · price
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Arshiya Limited reported Q1 FY2025-26 standalone net profit of Rs. 36.78 lakhs compared to a loss of Rs. 99,759.94 lakhs in Q1 FY2024-25. Revenue from operations was Rs. 450 lakhs, up from Rs. 210 lakhs in the same period last year. The company is undergoing Corporate Insolvency Resolution Process (CIRP) since April 2024, with Board powers suspended and vested in Resolution Professional Pankaj Mahajan. The Statutory Auditor issued a Disclaimer of Conclusion instead of a standard review opinion, citing 18 significant reasons including: inability to verify financial records due to CIRP constraints, Rs. 1,03,850 lakhs in corporate guarantees given to subsidiaries (ANFL and NCR Rail), revenue of Rs. 450 lakhs recognized without an executed contract with Ascendas Panvel FTWZ Limited, non-assessment of impairment for PPE worth Rs. 56,971.87 lakhs, investments and loans to ANFL of Rs. 57,538.95 lakhs, and mass employee resignation (50 of 71 employees resigned in July-August 2024). The company also received termination notices for sub-lease agreements from Ascendas Panvel FTWZ Limited and Anomalous Infra Private Limited.
This is a highly distressed filing with extreme uncertainty. The auditor's disclaimer indicates material misstatement risks across revenue, assets, liabilities, and contingent liabilities. Shareholders face significant risk as the company is under insolvency proceedings, asset values are undetermined, and core business operations have been disrupted by sub-lease terminations and employee exodus. The stock should be treated with extreme caution.