ARSS Infrastructure Projects Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Awaiting price reaction for this filing.
ARSS Infrastructure Projects Limited reported a massive net loss of Rs. 3,55,498.04 Lakhs for FY26, compared to a loss of Rs. 949.37 Lakhs in FY25. Revenue from operations declined to Rs. 14,579.28 Lakhs from Rs. 16,538.80 Lakhs. The company is under Corporate Insolvency Resolution Process (CIRP) with a Resolution Plan approved by NCLT on August 29, 2025. The auditors issued a QUALIFIED OPINION due to three major issues: (1) non-compliance with Ind AS 115 for revenue recognition, (2) recognition of Rs. 70,831.96 Lakhs in arbitration claims that should be treated as contingent assets, and (3) improper classification of a related party loan from the Resolution Applicant (Ocean Capital Market Limited) without proper security documents or approvals. Exceptional items totaling Rs. 3,22,971.31 Lakhs were recognized due to CIRP-related settlements.
The qualified audit opinion and significant losses indicate high financial risk. The improper recognition of arbitration claims may overstate assets by Rs. 70,831.96 Lakhs. Related party transaction concerns and going concern status post-CIRP add further uncertainty for investors.