ARSS Infrastructure Projects Limited has informed the Exchange regarding Outcome of Board Meeting held on August 11, 2025.
Awaiting price reaction for this filing.
ARSS Infrastructure Projects, which has been under Corporate Insolvency Resolution Process (CIRP) since November 30, 2021, announced Q1 FY26 (quarter ended June 30, 2025) results with a sharp deterioration. Revenue from operations collapsed to Rs 1,868.19 lakhs from Rs 8,677.53 lakhs in Q1 FY25, a roughly 78% year-on-year decline. The company swung from a small profit of Rs 56.55 lakhs to a loss after tax of Rs 11,552.48 lakhs, translating to a loss per share of Rs 50.81. The bulk of the loss came from a one-time write-off of Rs 110.48 crores related to the settlement of an arbitration award (Niraj Cement Structurals vs Jaipur Development Authority). The statutory auditor issued a qualified review report citing inability to ascertain contract-wise surplus/loss under Ind AS-115 and flagged the ongoing CIRP and the write-off as emphasis-of-matter items. The board also approved the FY25 Director's Report and fixed September 24, 2025 for the AGM.
For shareholders, this is a deeply negative quarter — the revenue collapse combined with a Rs 110+ crore arbitration-related write-off has wiped out equity value (other equity is negative at Rs 18,652.35 lakhs on a standalone basis). The stock remains highly risky given the multi-year CIRP process with no resolution plan concluded, and shareholders face significant uncertainty on recovery of any value.