Alliance Integrated Metaliks Limited (AIML) has reported a net loss of Rs 2,375.44 lakhs for the quarter ended September 30, 2025, raising concerns about the company's ability to continue as a going concern. The company's financial results, released on November 14, 2025, reveal significant challenges in its operations and financial position.

Financial Performance

For the quarter ended September 30, 2025, AIML reported:

The company's revenue from operations showed a marginal increase, but the total expenses rose significantly, leading to a higher net loss compared to the same quarter in the previous year.

Going Concern Issues

AIML faces several challenges that cast doubt on its ability to continue as a going concern:

1. Negative Net Worth: As of September 30, 2025, the company's net worth stands at a negative Rs 30,805.13 lakhs.
2. Current Liabilities Exceed Assets: The company's current liabilities far exceed its current assets, indicating potential liquidity issues.
3. Non-Performing Assets: Outstanding loans of Rs 54,876.66 lakhs, including accrued interest, have been classified as non-performing assets (NPAs) by lenders.

Debt Resolution Efforts

The company reports that it is actively engaged in discussions with lenders to resolve its outstanding debts. As part of its One-Time Settlement (OTS) proposals, AIML has deposited upfront amounts with concerned lender banks. However, the company has classified all its borrowings from banks and financial institutions as current liabilities.

Auditor's Observations

The independent auditor's review report highlights several concerns:

1. Reconciliation Issues: Trade payables, trade receivables, and other loans and advances are subject to reconciliation and confirmation.
2. Material Uncertainty: The auditor notes that the company's financial condition indicates a material uncertainty that may cast significant doubt on its ability to continue as a going concern.

Legal Proceedings

A Provisional Attachment Order has been issued against the company by the Directorate of Enforcement, New Delhi. This order pertains to the attachment of immovable properties held in the company's name and shares held by the promoter company. AIML has filed an appeal against this order, which is currently pending before the Appellate Authority.

Despite these challenges, the company's management maintains that the ongoing legal proceedings do not affect its business operations or ongoing activities. AIML continues to prepare its financial statements on a going concern basis, citing factors such as continuity of operations, positive EBITDA, and an encouraging order book.

As Alliance Integrated Metaliks navigates through these financial and legal challenges, stakeholders will be closely monitoring the company's efforts to improve its financial position and resolve outstanding issues with lenders and regulatory authorities.

Alliance Integrated Metaliks Limited (AIML) has announced that the Adjudicating Authority in New Delhi has confirmed a provisional attachment order against the company under the Prevention of Money Laundering Act, 2002 (PMLA). The order affects the company's immovable property and shares held by the promoter company.

Details of the Attachment Order

The confirmation follows a provisional attachment order (No. 09/2024) initially communicated to AIML on September 14, 2024. The order, issued by the Deputy Director of the Gurugram Zonal office, Directorate of Enforcement, New Delhi, provisionally attached the company's immovable property and shares held by the promoter company.

Company's Response

AIML has stated that the confirmed attachment order does not impact its business operations. In a regulatory filing, the company disclosed:

• The order was received on August 25, 2025.
• The alleged violation falls under the Prevention of Money Laundering Act, 2002.
• The company maintains that there is no impact on its financial, operational, or other activities.

Next Steps

Alliance Integrated Metaliks is preparing to challenge the order. The company has announced its intention to file an appeal before the Appellate Tribunal, PMLA in New Delhi. AIML has committed to keeping stakeholders informed about further actions as they unfold.

Regulatory Compliance

The company made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was submitted to the BSE Limited, where AIML's shares are listed.

While the attachment order presents a legal challenge for Alliance Integrated Metaliks, the company's assertion of unaffected business operations and its planned appeal suggest a proactive approach to addressing the situation. Stakeholders will likely be watching closely for updates on the appeal process and any potential long-term implications for the company.