Asian Hotels (North) Limited has informed the Exchange regarding Appointment of M/s. Chandrasekaran Associates as Secretarial Auditors Other of the company w.e.f. April 01, 2025 for a period of 5 years
ASIANHOTNR · price
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Asian Hotels (North) Limited, which owns Hyatt Regency Delhi, announced audited standalone results for Q4 and FY25. Revenue from operations rose to Rs. 31,819 lakhs in FY25 from Rs. 29,809 lakhs in FY24. The company reported a net profit of Rs. 18,726 lakhs for FY25 against a loss of Rs. 8,750 lakhs last year, but this is largely driven by a one-time exceptional gain of Rs. 18,467 lakhs from a One Time Settlement (OTS) with Bank of Maharashtra, J.C. Flowers Asset Reconstruction, and Standard Capital Markets. Loss from ordinary operations improved to Rs. (6,917) lakhs from Rs. (8,730) lakhs. The board appointed M/s. Chandrasekaran Associates as Secretarial Auditors for 5 years (FY 2025-26 to FY 2029-30) and reappointed M/s Agarwal U R S & Company as Internal Auditors for FY 2025-26. The company also received Rs. 331.51 crores as advance for property sales and got BSE/NSE approval for reclassification of outgoing promoters (Jatia family entities) from promoter group to public category.
The headline profit is misleading and almost entirely comes from debt write-back, not core hotel operations, which are still loss-making though improving. Debt restructuring via OTS and the large property sale advance are positive steps for balance sheet repair, but shareholders should focus on operating performance and the going concern emphasis in the auditor's report.