In terms of provision of Regulation 30 (read with Part A of Schedule III) and other applicable regulations, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ....
Awaiting price reaction for this filing.
ARSS Infrastructure Projects, which has been under Corporate Insolvency Resolution Process (CIRP) since November 30, 2021 with its Board suspended, reported full-year FY25 standalone revenue from operations of Rs 16,538.80 lakhs, a sharp decline of about 48% from Rs 32,087.18 lakhs in FY24. The company narrowed its net loss to Rs 949.37 lakhs in FY25 from Rs 3,534.61 lakhs in FY24, though Q4 FY25 alone swung back to a loss of Rs 1,027.80 lakhs versus a small profit in the year-ago quarter. EPS stood at Rs (4.18) and net worth is deeply negative at Rs (16,378.55) lakhs. The statutory auditor issued a qualified opinion (recurring since FY13-14) flagging non-compliance with Ind AS-115 on contract-wise revenue recognition, and also highlighted an ED search and seizure in October 2024, an ongoing SFIO investigation, and that the NCLT Cuttack bench heard the resolution plan on May 20, 2025 and has reserved its order.
This is a stressed, insolvency-bound stock with a negative net worth, a qualified audit opinion, and active enforcement investigations (ED, SFIO), meaning shareholders face very high risk and trading should be approached with extreme caution. The single most important near-term trigger is the NCLT order on the resolution plan, which will determine whether the company gets revived or heads towards liquidation.