Please find enclosed Audited Financial Results (Standalone and Consolidated) for the year ended March 31, 2026
Awaiting price reaction for this filing.
ARSS Infrastructure Projects Limited reported audited results for FY26. The company posted total revenue of Rs 14,579.28 Lakhs, down from Rs 16,538.80 Lakhs in the prior year. However, the net loss after tax stands at a massive Rs 3,55,498.04 Lakhs, primarily due to exceptional items of Rs 3,43,413.06 Lakhs arising from the Corporate Insolvency Resolution Process (CIRP) completed in August 2025. The auditors issued a QUALIFIED OPINION citing three key issues: (1) non-compliance with Ind AS 115 for revenue recognition due to missing contract records, (2) recognition of Rs 70,831.96 Lakhs in arbitration claims that auditors say should be treated as contingent assets, and (3) incorrect classification of a related party loan from the Resolution Applicant and interest accrual without proper approvals. The Resolution Plan implementation resulted in extinguishing unsustainable debt of Rs 4,675.45 crores and reconstitution of the board.
The qualified audit opinion and significant losses highlight material accounting risks. The company remains under CIRP with a reconstituted board, but shareholders face uncertainty due to ongoing arbitration claim disputes and potential amendments needed to the Resolution Plan.