Intimation for Board Meeting As Held On 14-08-2025
Awaiting price reaction for this filing.
Alps Industries' board met on August 14, 2025 and approved unaudited standalone and consolidated results for Q1 FY26 (quarter ended June 30, 2025). The company remains under the Corporate Insolvency Resolution Process (CIRP) after NCLT Allahabad admitted a Section 7 IBC petition by Edelweiss ARC (which holds over 99% of secured debt) in September 2024. On June 27, 2025, the Committee of Creditors voted in favour of one of 13 resolution plans, which is now awaiting NCLT approval. The auditor (A S Goel & Co) issued a qualified opinion, flagging that the company has not provided for liabilities of around Rs. 217.4 crore related to interest and waived principal on earlier-restructured loans, which would have increased the loss and reduced shareholder funds. The auditor also added an Emphasis of Matter on going concern. Separately, the board approved the resignation of statutory auditor A S Goel & Co and the appointment of M/s O. Aggarwal & Co for a four-year term, and re-appointed Sandeep Agarwal as Managing Director for three years from April 2026.
The stock continues to carry very high risk: the company is under insolvency proceedings, results carry a qualified opinion with a large unprovided liability, and there are ongoing loan defaults. Any meaningful upside depends almost entirely on NCLT approving the resolution plan already voted on by lenders — until that happens, shareholders remain last in the priority and equity value is uncertain.