Asian Hotels (West) Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025. the meeting of the Board of Directors of the Company started on September 23, 2025, at 04:30PM and went on till 7:30PM and thereafter adjourned to September 24, 2025 at 11:45AM and concluded at 2:35PM.
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Awaiting price reaction for this filing.
Asian Hotels (West) Limited, which owns the Hyatt Regency in Mumbai, submitted its audited results for FY25. The auditor (J.C. Bhalla & Co.) issued an Adverse Opinion, flagging multiple serious issues. The company's hotel operations have been suspended since June 2021 after a lender dispute, and the company went through a brief CIRP before a settlement was approved by NCLAT in January 2024. Revenue from operations is essentially nil (only other income of Rs. 564.43 lakhs for FY25). The company reported a net loss of Rs. 3,628 lakhs in FY25 (vs Rs. 7,986 lakhs loss in FY24) and Rs. 1,413 lakhs loss in Q4. Current liabilities exceed current assets by a huge Rs. 42,051 lakhs, raising major going concern doubts. Exceptional items of Rs. 2,679.78 lakhs (old balance write-offs) further impacted results. The auditor also raised concerns about Rs. 39,000 lakhs received from Saraf Group's Novak Hotels, potential sale of Hyatt Regency, unrecorded interest of Rs. 3,837 lakhs, and non-filing of charge creation with MCA.
This is a deeply negative filing for shareholders — the auditor's Adverse Opinion and explicit going concern doubt, combined with the hotel being shut since 2021 and the asset potentially being sold, signal very high risk. Existing shareholders face significant uncertainty about the company's survival and the value of their holding.