AS PER ATTACHMENT
Awaiting price reaction for this filing.
Ashiana Ispat reported a deeply weak quarter with revenue from operations collapsing to just Rs. 1.09 lakhs in Q3 FY25 from Rs. 7,666.25 lakhs in Q3 FY24, after the company halted production to relocate part of its plant. Nine-month revenue fell about 39% to Rs. 14,102.33 lakhs from Rs. 23,184.05 lakhs, and the company swung to a loss before tax of Rs. 491.99 lakhs versus a profit of Rs. 156.23 lakhs a year ago. PAT for nine months was a loss of Rs. 516.12 lakhs (EPS of Rs. -6.48) versus a profit of Rs. 107.89 lakhs earlier. The auditor issued a qualified review report, flagged material uncertainty on going concern as the company has been classified as an NPA with entire bank dues of Rs. 7,010.78 lakhs in default, including a SARFAESI notice from SBI on Rs. 47.82 crore. The filing also flags a Kamdhenu trademark termination dispute, an NCLT insolvency petition from a creditor, and SEBI complaints regarding the company's preferential allotment.
This is a high-risk update for shareholders: operations are essentially shut, the company is in loan default and tagged as an NPA, and the auditor has flagged going concern uncertainty. Combined with the qualified auditor opinion, ongoing insolvency and trademark litigation, and weak board composition, the stock faces serious downside risk until production restarts, debt is restructured, and legal matters are resolved.