Advance Lifestyles promoter Prerna Agarwal has filed a revised disclosure under SEBI regulations following feedback from BSE regarding the pledge release on equity shares. The revised submission addresses specific formatting requirements and includes additional details as requested by the exchange.

Revised Disclosure Filing

The promoter submitted a revised disclosure on December 12, 2025, following BSE's communication regarding discrepancies in the original filing. The exchange requested a revised submission in the updated prescribed format with specific requirements:

BSE Communication and Compliance

BSE's Listing Department communicated certain discrepancies in the original disclosure and specifically requested the inclusion of reasons for encumbrances in the revised format. The exchange's feedback was provided via email on December 12, 2025, prompting the immediate submission of corrected documentation.

The revised disclosure incorporates all requisite details, including the reason for encumbrances, as mandated under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Framework

The disclosure filing covers compliance with SEBI's regulatory framework for substantial acquisitions and takeovers:

Corporate Communication Process

The formal communication was addressed to both BSE Limited at PJ Towers, Dalal Street, Mumbai, and Advance Lifestyles Limited at its registered office at 2nd Floor, Electric Mansion, West Wing, Worli, Mumbai. The promoter requested both entities to take the revised disclosure on record.

This revised filing demonstrates the company's commitment to regulatory compliance and transparency in promoter shareholding disclosures. The prompt response to exchange feedback ensures adherence to SEBI's evolving disclosure requirements and maintains proper corporate governance standards.

Advance Lifestyles Limited , a company operating in the textiles and real estate sectors, has released its unaudited financial results for the quarter and half-year ended September 30, 2025. The results, approved by the company's Board of Directors on November 11, 2025, reveal a mixed financial picture, with improved profitability but significant concerns raised by the auditors.

Financial Performance

The company reported a notable improvement in its financial performance for the quarter ended September 30, 2025:

Advance Lifestyles' revenue from operations in Q2 2025 increased to ₹8,814.46 thousand, up from ₹6,863.19 thousand in the same quarter of the previous year. This growth contributed to a net profit of ₹1,304.93 thousand for the quarter, a significant turnaround from the loss of ₹317.60 thousand in Q2 2024.

For the half-year ended September 30, 2025, the company reported a total revenue of ₹17,569.06 thousand and a net profit of ₹2,535.35 thousand. However, these figures are lower compared to the same period in the previous year, which saw a revenue of ₹26,460.39 thousand and a net profit of ₹9,911.35 thousand.

Auditor's Concerns

Despite the improved quarterly performance, the company's statutory auditor, Piyush J. Shah & Co., has issued a qualified review report. The auditor highlighted concerns regarding an inter-corporate advance of ₹24,12,084.55 thousand granted by Advance Lifestyles to another company. This recipient company has reportedly accumulated losses over the years, resulting in a complete erosion of its net worth and currently has no ongoing business operations or viable revenue streams.

The auditor noted that Advance Lifestyles has not recognized any impairment loss on this substantial inter-corporate advance. This lack of impairment recognition is not in compliance with the requirements of Indian Accounting Standard (Ind AS) 109 on Financial Instruments. The auditor stated that if the company had assessed and recognized the impairment loss as per the standard, both the carrying amount of the advance and the profit for the period would have been lower, although the exact amount of this potential impairment remains unascertained.

Business Segments and Investor Relations

Advance Lifestyles Limited operates in two primary business segments: Textiles and Real Estate. However, the company noted that the disclosure requirements for segment reporting under Ind AS 108 are not applicable as none of the segments are considered reportable segments.

On the investor relations front, the company reported no pending complaints from investors as of September 30, 2025, and no complaints were received during the quarter under review.

Conclusion

While Advance Lifestyles Limited has shown improved profitability in the most recent quarter, the qualified review from the auditors raises significant concerns about the company's financial practices, particularly regarding the large inter-corporate advance. Investors and stakeholders may need to closely monitor how the company addresses these issues in the coming months, as they could potentially impact the company's financial health and future performance.