Limited Review report
Awaiting price reaction for this filing.
Statutory auditor O Aggarwal & Co. has issued limited review reports on Alps Industries' unaudited financial results for the quarter and nine months ended 31 December 2025, on both a standalone and consolidated basis. In both reports, the auditor has included an 'Emphasis of Matter' paragraph drawing attention to Note No. 3 of the financial statements, which describes the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT) and its resultant impact on the financial results. This indicates the company has gone through the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code and a resolution plan is being implemented. The auditor's conclusion is not modified in respect of this matter. The consolidated results include subsidiaries Alps Energy Private Limited and Alps USA Inc., whose interim results (showing NIL revenue) were not separately reviewed by their auditors.
Shareholders should treat the NCLT-approved resolution plan implementation as a material event — it signals the company emerged from insolvency proceedings, which typically restructures debt, equity, and operations. Investors should review Note No. 3 of the financial statements for specifics on how the resolution plan affects shareholding, debt, and the current quarter's numbers before drawing conclusions about the stock.