ARSS Infrastructure Projects Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
ARSS Infrastructure Projects Limited has submitted its audited financial results for FY 2025-26, the first full year following NCLT approval of its Resolution Plan by Ocean Capital Market Limited in August 2025. The auditors (ADV AND CO LLP) issued a Qualified Opinion citing three major issues: non-compliance with Ind AS 115 revenue recognition standards, improper recognition of Rs. 70,831.96 Lakhs in arbitration claims that should be disclosed as contingent assets, and incorrect classification of a related party loan with unauthorized interest accrual of Rs. 1,122.76 Lakhs. The company reported Total Revenue of Rs. 14,579.28 Lakhs (down from Rs. 16,538.80 Lakhs in prior year) and a massive Net Loss of Rs. 3,55,498.04 Lakhs, largely driven by Rs. 3,43,413.06 Lakhs in exceptional items from CIRP implementation including extinguishment of financial creditor liabilities and write-off of arbitration claims. Total Assets stand at Rs. 1,27,731.05 Lakhs with Other Equity at Rs. 86,956.30 Lakhs.
The Qualified Opinion andEmphasis of Matter paragraphs indicate significant accounting irregularities and uncertainty around the recoverability of arbitration claims. Shareholders should note the massive net loss driven by one-time CIRP exceptional items, revenue decline, and material overstatement of assets and net worth by approximately Rs. 70,000 Lakhs as quantified by auditors.