Asian Hotels (West) Limited has informed the Exchange regarding 'submission of financial results for quarter ended 31122025 which were earlier submitted on 13022026 as outcome of Board Meeting.'.
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Asian Hotels (West) Limited submitted its Q3 FY26 (quarter ended December 31, 2025) standalone and consolidated financial results, which were approved at the board meeting on February 13, 2026. On a standalone basis, revenue from operations was a nominal Rs. 143.72 lakhs and the company reported a loss of Rs. 88.48 lakhs for the quarter (9M FY26 loss: Rs. 231.93 lakhs). On a consolidated basis, revenue from operations stood at Rs. 11,082.28 lakhs for the quarter and Rs. 31,388.73 lakhs for 9M FY26, while profit after tax was Rs. 2,165.37 lakhs for the quarter and Rs. 5,414.06 lakhs for 9M FY26 (up from Rs. 4,074.47 lakhs a year ago, a ~33% jump). The statutory auditor J.C. Bhalla & Co. issued an adverse conclusion on both sets of results, citing serious issues including: a Framework Agreement giving the Saraf Group the option to buy the company's principal asset (Hyatt Regency Mumbai), unrecognized interest expense of Rs. 7,088.63 lakhs, disputed reimbursements of Rs. 1,429.29 lakhs, and current liabilities exceeding current assets by over Rs. 41,900 lakhs, raising a material going concern uncertainty.
This is a major red flag for shareholders — the auditor's adverse opinion and explicit going concern warning indicate the company may struggle to continue as a going concern. While consolidated profits look healthy (driven by the subsidiary), the standalone entity is loss-making and the unresolved Saraf Group Framework Agreement could result in the loss of the company's key hotel asset. Stock price is likely to face pressure given the severity of the audit qualifications and unresolved disputes with the lender.