Arshiya Limited Approves Unaudited Standalone Financial Results for Half Year Ended September 30, 2025
Arshiya Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has finalized and recorded its Unaudited Standalone Financial Results for the Quarter and Half Year ending September 30, 2025. The Resolution Professional (RP), Mr. Pankaj Mahajan, approved the results on May 29, 2026, alongside a Limited Review Report issued by the statutory auditors, M/s ARTHA & Associates.The company's affairs are presently managed by the Resolution Professional as a going concern under the Insolvency and Bankruptcy Code. The results cover the period from April 1, 2025, to September 30, 2025.
Financial Highlights (Amounts in Rs. Lakhs)
The statement of unaudited standalone financial results for the half year ended September 30, 2025, showed a total revenue from operations of 900.00, alongside other income of 27.57.Total Income for the half year was recorded at 927.57. Expenses totaled 1,041.95, driven by various costs including employee benefits expense, finance costs, depreciation and amortization expense, and other expenses. This resulted in a reported total comprehensive income of (114.37).
A comparison of the standalone financials for the half year ended September 30, 2025, versus the previous year, is detailed below:
| Particulars | Half Year Ended 30 Sep 2025 (Unaudited) | Half Year Ended 30 Sep 2024 (Unaudited) |
|---|---|---|
| Revenue from Operations | 900.00 | 579.89 |
| Total Income | 927.57 | 1,087.77 |
| Total Expenses | 1,041.95 | 4,149.20 |
| Total Comprehensive Income | (114.37) | (99,685.09) |
The balance sheet as of September 30, 2025, showed total assets amounting to 1,45,678.45, supported by total equity and liabilities of the same amount.
Operational and Accounting Considerations
The limited review report from ARTHA & Associates highlighted several complex issues that impact the financials due to the ongoing CIRP.Key observations regarding accounting and assets included:
- Impairment and Valuation: Due to the ongoing CIRP, the Company has constrained from carrying out impairment assessments for assets. Investments and loans to wholly owned subsidiaries, such as Arshiya Northern FTWZ Limited (ANFTWZ) and NCR Rail Infrastructure Limited, are under CIRP, meaning the recoverability of these assets depends on the outcome of the resolution plan.
- Corporate Guarantees: The company’s exposure regarding corporate guarantees given to subsidiaries remains a key area of concern, as the subsidiaries are also undergoing CIRP.
- Personnel and Operations: The Company has faced significant operational disruption, including the resignation of 50 out of 71 employees between July 30 and August 2, 2024, leading to an acute manpower deficiency and delays in financial reporting.
- Revenue Recognition: Review noted that revenue recognition and related trade receivables may not have met all criteria, given the lack of executed contracts and customer acceptance in some instances.
- Legal Complexities: The auditors noted that certain liabilities, such as those related to ongoing litigations and claims, have not crystallized as of the reporting date, and the determination of potential adjustments remains dependent on the outcome of legal proceedings and the CIRP.
The financial results for the half year ended September 30, 2025, are presented on a going concern basis, as the Company's affairs are currently being managed by the Resolution Professional.
ARSHIYA Stock Price Movement
On Friday, Arshiya Limited shares edged higher, closing at ₹1.18 after gaining 0.85%. The stock saw moderate activity, trading on a total volume of 46,430 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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