financial results for quarter ended on 31st December, 2025 with limited review report.
Awaiting price reaction for this filing.
Ashiana Ispat reported total income of about Rs. 61,366 lakhs for Q3 FY26 and Rs. 1,10,940 lakhs for the nine months ended December 2025, with a profit after tax of Rs. 3,781 lakhs in 9M FY26, against a loss of Rs. 4,669 lakhs a year ago. The turnaround is largely driven by an exceptional gain of Rs. 3,470 lakhs from selling its Bhiwadi factory land and machinery, the proceeds of which were used to settle a one-time settlement (OTS) with SBI. The auditor (Khiwani Sood & Associates) issued a qualified conclusion, citing Rs. 639 lakhs of NPA-tagged loans with no interest provided, absence of inventory physical verification, and Rs. 34.7 lakhs of unpaid statutory dues (PF, ESI, TDS). The auditor also flagged material uncertainty on the company's ability to continue as a going concern following the sale of major production assets. Multiple legal issues remain open, including NCLT creditor cases worth Rs. 2,009.86 lakhs, trademark fights with Kamdhenu Limited, a fraud allegation case by Kotak Mahindra Bank, and SEBI complaints on a Rs. 342.25 lakh preferential issue.
The headline profit is driven primarily by a one-time asset sale rather than steady operations, and the auditor has flagged both a qualified opinion and going-concern uncertainty, so the result should be read with caution. Trading in the stock has already been suspended by BSE since 15 December 2025 due to earlier filing delays, adding liquidity and regulatory risk for shareholders.