Considered and approved unaudited financial results (Standalone and consolidated) for the quarter ended 31122025
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Awaiting price reaction for this filing.
Asian Hotels (West) Limited's board approved its Q3 FY26 results on February 13, 2026, but the auditor (J.C. Bhalla & Co.) issued an Adverse Conclusion on both the standalone and consolidated financial statements. On a standalone basis, the company reported revenue from operations of Rs. 143.72 lakhs and a loss of Rs. 88.48 lakhs for the quarter, with a 9-month loss of Rs. 231.93 lakhs. On a consolidated basis, revenue was Rs. 11,082.28 lakhs with a quarterly profit of Rs. 2,165.37 lakhs and 9-month profit of Rs. 5,414.06 lakhs. The auditor flagged a material uncertainty over the going concern assumption because current liabilities exceed current assets by around Rs. 41,918 lakhs (standalone) and Rs. 40,714 lakhs (consolidated). A major dispute exists with the Saraf Group (Novak Hotels Pvt Ltd), which advanced Rs. 39,000 lakhs — the company treats it as a borrowing, but the lender treats it as an advance for buying the Hyatt Regency Mumbai asset.
This is a red-flag filing for shareholders. An adverse auditor opinion combined with an explicit going concern warning means the auditor doubts the company can continue operations without further support. The unresolved Rs. 39,000 lakh Saraf Group dispute raises the possibility that the company's principal asset, Hyatt Regency Mumbai, could be lost, which would be devastating for equity value. Expect heightened stock-price volatility and negative sentiment.