Submission of Unaudited Financial Results (Standalone) along with the Limited Review Report thereon for the Quarter and half year ended on September 30, 2025.
ARSHIYA · price
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Arshiya Limited has submitted unaudited standalone financial results for Q2 and H1 FY26 (ended September 30, 2025) under its ongoing Corporate Insolvency Resolution Process (CIRP). The company reported revenue of Rs. 900 lakhs for H1, up from Rs. 579.89 lakhs in H1 FY25, representing 55% growth. However, the company posted a net loss of Rs. 114.37 lakhs for H1 (compared to a massive loss of Rs. 99,685.09 lakhs in FY25, which included exceptional items of Rs. 96,623.66 lakhs). Total equity remains deeply negative at Rs. 1,44,144.50 lakhs. The statutory auditor M/s ARTHA & Associates has issued a Disclaimer of Conclusion (effectively a refusal to express an opinion) citing 18 material uncertainties including CIRP constraints, unrecognized corporate guarantees of Rs. 1,03,850 lakhs, revenue recognition concerns without proper contracts, inability to verify assets/receivables, and severe employee attrition where 50 of 71 employees resigned in July-August 2024.
This is an extremely high-risk filing. The auditor disclaimer indicates fundamental doubts about financial statement reliability. Shareholders face extreme risk given negative equity of Rs. 1.44 lakh crores and pending CIRP resolution. The stock should be treated with extreme caution as the company's survival as a going concern depends entirely on CIRP outcome.