Arshiya Limited has reported its unaudited standalone financial results for the quarter and half year ended September 30, 2024. The company, which is undergoing the Corporate Insolvency Resolution Process (CIRP), posted a net profit of ₹74.85 lakh for the second quarter of fiscal year 2025. This marks a significant turnaround from the net loss of ₹3,292.50 lakh recorded in the corresponding quarter of the previous year.

Financial Performance

For the quarter ended September 30, 2024, the company's total income stood at ₹461.38 lakh. Revenue from operations for the period was ₹369.89 lakh, while other income contributed ₹91.49 lakh. Total expenses for the quarter were reported at ₹386.53 lakh.

On a half-yearly basis, the company reported a net loss of ₹99,685.09 lakh for the six months ended September 30, 2024. This loss was significantly impacted by exceptional items amounting to ₹96,623.66 lakh, which were accounted for following the commencement of the CIRP. Total income for the half year was ₹1,087.77 lakh, with total expenses reaching ₹4,149.20 lakh.

Operational Highlights and CIRP Status

The financial results were considered and approved by the Resolution Professional, Mr. Pankaj Mahajan, on April 28, 2026. The company is under CIRP pursuant to an order by the National Company Law Tribunal (NCLT), Mumbai Bench, dated April 23, 2024. Consequently, the powers of the Board of Directors have been suspended and are now vested with the Resolution Professional.

The statutory auditors, M/s ARTHA & Associates, Chartered Accountants, issued a Limited Review Report but did not express a conclusion on the financial statements. This disclaimer was due to the significance of matters such as the non-recognition of liabilities related to financial guarantees, non-assessment of impairment of assets, and the inability to obtain external confirmations for trade receivables and payables.

Key Financial Metrics

The following table summarizes the unaudited standalone financial results for the quarter and half year ended September 30, 2024:

The company noted that certain subsidiary companies are also undergoing CIRP, and their financial results have not been finalized. As a result, the Resolution Professional was unable to consolidate the accounts, and the Consolidated Financial Results for the quarter could not be prepared.

Arshiya Limited has published its unaudited standalone financial results for the quarter and nine months ended December 31, 2024. The company continues to operate under the Corporate Insolvency Resolution Process (CIRP), with the powers of the Board vested with Resolution Professional Mr. Pankaj Mahajan. The advertisement for these results was published on May 21, 2026, in The Financial Express and Navakal.

Financial Performance

For the third quarter of the fiscal year 2025, the company reported a total income of ₹864.29 lakh, compared to ₹466.31 lakh in the corresponding quarter of the previous year. Revenue from operations stood at ₹450.00 lakh, while other income contributed ₹414.29 lakh. Total expenses for the quarter were significantly lower at ₹340.08 lakh, down from ₹4,374.50 lakh in the same period last year.

However, the bottom line was severely impacted by exceptional items amounting to ₹10,197.00 lakh. These items included a differential amount of claims submitted by lenders and an adjustment against interest payable to EARC. Consequently, the company reported a net loss of ₹9,672.79 lakh for the quarter.

Key Financial Figures (₹ in Lakhs)

Nine-Month Performance

For the nine months ended December 31, 2024, Arshiya Limited reported a total income of ₹1,952.06 lakh. The company incurred a net loss of ₹1,09,357.88 lakh during this period, heavily influenced by exceptional items totaling ₹1,06,820.66 lakh. These exceptional items related to the differential amount of claims submitted by lenders following the commencement of CIRP.

Auditor’s Disclaimer

M/s ARTHA & Associates, Chartered Accountants, issued a limited review report with a disclaimer of opinion. The auditors cited several significant matters, including the non-recognition of liability for financial guarantees, non-assessment of impairment of assets and inventories, and uncertainty regarding the recoverability of inter-company balances. The firm stated that due to the significance of these matters and the uncertainty surrounding the CIRP outcome, they were unable to obtain sufficient evidence to form a conclusion on the financial results.