Intimation in regards with the Audited Financial Results for the period ended 31-03-2025.
Awaiting price reaction for this filing.
Alps Industries Limited, which is currently under the Corporate Insolvency Resolution Process (CIRP) since September 13, 2024, submitted its audited financial results for FY25 with a qualified opinion from statutory auditors A S Goel & Co. The company reported zero revenue from operations (down from Rs. 190.93 lakh in FY24) and a standalone net loss of Rs. 6,399.04 lakh, wider than the Rs. 5,623.85 lakh loss in the previous year. Consolidated net loss stood at Rs. 6,388.52 lakh. The company's net worth is deeply negative at Rs. -89,363.60 lakh, with total borrowings of approximately Rs. 891.70 crore, of which Rs. 668.19 crore is in default. Edelweiss Asset Reconstruction Company (EARC), holding over 99% of the secured debt, has filed a claim of Rs. 6,11,939.59 lakh. No dividend has been recommended due to continued losses. Resolution plans are under consideration by the Committee of Creditors.
This is a deeply distressed stock under IBC proceedings — shareholders face near-total erosion of equity with negative net worth, and the outcome depends entirely on NCLT approval of a resolution plan. The qualified audit opinion and going-concern uncertainty make this a high-risk situation; equity holders are unlikely to see recovery unless a favorable resolution plan is approved.