Asian Hotels (West) Limited has informed the Exchange regarding Board meeting held on February 13, 2026.
AHLWEST · price
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The Board of Asian Hotels (West) Limited, at its meeting on February 13, 2026, approved the unaudited financial results for the quarter and nine months ended December 31, 2025. On a standalone basis, the company reported revenue of ₹143.72 lakhs and a loss after tax of ₹88.48 lakhs for Q3 FY26, slightly wider than the ₹66.51 lakh loss in the previous quarter. On a consolidated basis, revenue from operations stood at ₹11,082.28 lakhs with a profit after tax of ₹2,165.37 lakhs (down from ₹2,440.50 lakhs in Q2 FY26). The statutory auditor (J.C. Bhalla & Co.) issued an Adverse Conclusion on both sets of results, flagging major concerns. The company's current liabilities exceed current assets by ₹41,917.84 lakhs (standalone), raising material doubt about its ability to continue as a going concern. Additionally, the auditor flagged that the Saraf Group holds an option to purchase the Hyatt Regency Mumbai — the company's principal asset — under a Framework Agreement, and that ₹7,088.63 lakhs in interest expense and ₹1,429.29 lakhs in reimbursements claimed by the lender (Novak Hotels/Saraf Group) on the ₹39,000 lakhs borrowed have not been recognized and remain in dispute.
Negative for shareholders — the auditor's adverse opinion, the going concern uncertainty, and the unresolved dispute with the Saraf Group (including the risk of losing the Hyatt Regency Mumbai property) materially weaken the standalone picture. Consolidated earnings remain positive but the standalone entity's solvency is in question, which could weigh on stock sentiment and prompt further scrutiny from exchanges and lenders.