The Board of Directors in its meeting held on 28.05.2026 approved re-appointment of Dr. Arun Gopal Agarwal (DIN: 00374421) as Whole Time Director designated as CEO & Executive Director ....
ASIANHOTNR · price
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Asian Hotels (North) Ltd, owner of Hyatt Regency Delhi, reported its audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026. The company reported a net loss of Rs. 10,225.71 lakhs for the year despite revenue from operations of Rs. 38,208.81 lakhs. The auditors flagged material uncertainty about the company's ability to continue as a going concern, noting that current liabilities exceed current assets. The company had defaulted on borrowings worth Rs. 59,326.48 lakhs principal and Rs. 23,709.15 lakhs interest. However, during the quarter, the company raised Rs. 76,494 lakhs by issuing 2,31,80,000 equity shares at Rs. 330 per share on preferential basis, fully repaying the outstanding borrowings and resolving the default. CFO Mr. Sunil Upadhyay resigned effective May 31, 2026, and Mr. Sachin Goel (Director of Finance) has been appointed as the new CFO effective June 1, 2026. The CEO Dr. Arun Gopal Agarwal has been re-appointed for another one-year term. A new Company Secretary, Ms. Kriti Narula Sehgal, was also appointed.
The company has resolved its major debt default through a large equity raise, which is a positive development. However, the significant going concern warning from auditors and continued losses remain concerns for investors. The CFO change may lead to some transition uncertainty.