Submission of Unaudited Financial Results (Standalone) along with the Limited Review Report thereon for the Quarter and Nine Month ended December 31, 2025.
ARSHIYA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Arshiya Limited reported standalone revenue of Rs. 450 lakhs for Q3 and Rs. 1,350 lakhs for nine months (vs Rs. 1,029.89 lakhs YoY), a 31% increase. However, the company posted a net loss of Rs. 6.44 lakhs for Q3 and Rs. 120.81 lakhs for nine months, compared to a massive loss of Rs. 1,09,357.88 lakhs in the prior year (due to exceptional items in prior year). The statutory auditor issued a 'disclaimer of conclusion' citing inability to verify financials due to the ongoing CIRP (insolvency admitted April 2024), revenue recognition without executed contracts (Rs. 1,350 lakhs from Ascendas Panvel), unverified corporate guarantees of Rs. 1,03,850 lakhs to subsidiaries, impaired PPE and inventory assessments, and critical manpower shortage (50 of 71 employees resigned in July-August 2024). The company is being managed as a going concern by Resolution Professional Pankaj Mahajan.
The stock remains extremely high-risk due to ongoing insolvency proceedings, auditor's disclaimer of conclusion (making financials unreliable), massive contingent liabilities from corporate guarantees, and operational disruptions. Shareholders face substantial uncertainty as the resolution plan is pending NCLT approval, and the financial statements cannot be fully verified.