Arshiya Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), has disclosed its unaudited standalone financial results for the first quarter of the fiscal year 2024-25. The company reported a total income from operations of Rs. 210.00 lakh for the quarter ended June 30, 2024.

The financial performance for the period reflects a continued loss position. The net loss for the period after tax stood at Rs. 99759.94 lakh. This compares to a net loss of Rs. 6921.24 lakh in the corresponding three months ended June 30, 2023. The company's equity share capital remained constant at Rs. 5269.52 lakh with a face value of Rs. 2 per share.

Financial Highlights

The following table outlines the key financial metrics for the quarter ended June 30, 2024, compared with the corresponding period in the previous year:

Operational Context

The company is under CIRP pursuant to an NCLT order dated April 23, 2024. Consequently, the powers of the Board of Directors have been suspended and are now vested with the Resolution Professional, Pankaj Mahajan. The financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under the Companies Act, 2013.

Shareholder Information

The audited standalone financial results for the quarter and financial year ended March 31, 2025, were also referenced in the disclosures. The full financial results are available on the company's website and the stock exchange platforms.

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.