Please find enclosed herewith the revised Consolidated Limited Review Report for the quarter and six months ended September 30, 2025. There was an typographic error where it was mentioned ....
Awaiting price reaction for this filing.
ARSS Infrastructure Projects Ltd submitted revised Q2/H1 FY26 results (ended Sept 30, 2025) following a board meeting on Nov 10, 2025, with the revision limited to a typographic correction. The period was dominated by the implementation of an NCLT-approved Resolution Plan from Ocean Capital Market Ltd (OCML) on Aug 29, 2025, under the IBC process initiated in Nov 2021. Standalone revenue from operations collapsed to Rs 1,141 lakhs in Q2 (vs Rs 3,366 lakhs a year ago) and Rs 3,009 lakhs in H1 (vs Rs 12,044 lakhs), reflecting the company's distressed operational state. The company reported a massive net loss of Rs 3,22,734 lakhs standalone / Rs 3,22,738 lakhs consolidated in Q2, driven by one-time exceptional items totalling Rs 3,22,319 lakhs from the resolution plan. Promoter shares (1.06 crore) were extinguished and the board was reconstituted on Sept 29, 2025. The auditor (M A R S & Associates) issued a qualified conclusion due to inability to ascertain contract-wise surplus/loss under Ind AS-115 and an emphasis of matter on the IBC process. An EGM has been called for Dec 9, 2025.
This filing marks a historic corporate restructuring moment: ARSS has emerged from a four-year IBC process with a new promoter (OCML), a reconstituted board, and massive debt extinguishment (Rs 4,940 crore in financial creditor claims settled for Rs 208 crore cash). However, existing shareholders face near-total dilution — the technical loss reflects one-time accounting entries, not cash burn. Post-implementation, the equity base is set to expand by 7.5 crore new shares, and the going-concern overhang has been formally resolved by the NCLT order.