Arshiya Limited Takes on Record Unaudited Financial Results for Q&9M Ended December 31, 2024

Arshiya Limited Takes on Record Unaudited Financial Results for Q&9M Ended December 31, 2024​

Arshiya Limited, which is undergoing the Corporate Insolvency Resolution Process (CIRP), confirmed that the Resolution Professional, Mr. Pankaj Mahajan, has considered, approved, and taken on record the Unaudited Standalone Financial Results for the quarter and nine months ended December 31, 2024. The accompanying report also includes a Limited Review Report issued by the Statutory Auditors, M/s ARTHA & Associates.

The company noted that due to ongoing constraints and limitations related to the CIRP, certain subsidiary companies have not finalized their financial results. Consequently, the Resolution Professional was unable to consolidate the accounts, and thus, Consolidated Financial Results for the quarter and nine months ended December 31, 2024, could not be prepared.

The financial results were placed before the Resolution Professional for review and approval. The process was completed on April 28, 2026.

Key Financial Performance Indicators​

The Unaudited Standalone Financial Results for the quarter and nine months ended December 31, 2024, show the following performance metrics (Amounts in Lakhs):


Note: Comparison figures for the Quarter Ended 31.12.23 are unavailable. The figure 1,02089 represents the cumulative value for the nine months.

Statutory Auditor’s Limited Review​

M/s ARTHA & Associates, Chartered Accountants, issued a Limited Review Report on the financial results. The auditors highlighted several areas of complexity affecting the Statement, which were primarily due to the ongoing CIRP proceedings.

Key areas of caution noted in the limited review include:

• Corporate Guarantees: The statutory auditors noted corporate guarantees given to subsidiary companies, aggregating to Rs. 1,03,850.00 lakhs. As the subsidiaries are under CIRP, the fair value of assets and liabilities may only be determined upon the approval of a resolution plan by the NCLT.
• Asset Valuation: The company has Property, Plant and Equipment with a gross block aggregating to Rs. 57,272.33 lakhs and inventory of Rs. 16,505.97 lakhs as of December 31, 2024. The auditors noted that since the determination of value in use and net realizable value depends on uncertain future events, they were unable to determine the impact on the carrying value of these assets.
• Receivables and Payables: Due to the ongoing CIRP, the auditors were unable to obtain sufficient appropriate review evidence concerning the existence, accuracy, and completeness of trade receivables and trade payables.
• Subsidiary Investments: The company holds non-current investments and loans to Arshiya Northern FTWZ Limited (ANFTWZ), totaling Rs. 57,538.95 lakhs. The auditors cautioned that the recoverability of these investments and loans is dependent on the outcome of the CIRP process, making impairment assessment difficult at the current juncture.

The auditors stated that due to the significance of these matters, they could not obtain sufficient appropriate review evidence to form a conclusive opinion on the Statement.

ARSHIYA Stock Price Movement​

Arshiya Limited shares are edging higher to ₹1.19 as of 1:31 PM today, gaining 1.71% in live trading. The stock traded on a volume of 191,493 shares, rising significantly from its 52-week low of ₹1.14.