Arshiya Limited (ARSHIYA) Financial Results — Revenue ₹1,494.85 Cr

Investor Takeaways

Revenue increased to ₹1494.85 Cr from previous period

Net Profit was negative at ₹-109446.03 Cr

Auditor issued disclaimer of opinion due to insufficient evidence on recoverability of ₹1,200.04 lakh receivable

Recurring audit qualifications in revenue recognition, impairment assessments, and interest accrual across multiple fiscal years

Restatement related to non-effective demerger under CIRP proceedings

Governance concerns including director approval lapses and lack of independent verification by Resolution Professional

Overall Tone: Cautious

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹1494.85 Cr	Not available
Net Profit	₹-109446.03 Cr	Not available
EBITDA	Not available	Not available
EPS	Not available	Not available
OPM	Not available	Not available

What Changed

The filing reveals significant accounting and governance concerns. Arshiya Limited disclosed audited standalone financial results for FY 2024-25 under Corporate Insolvency Resolution Process (CIRP), but the auditor issued a disclaimer of opinion due to insufficient evidence regarding the recoverability of a ₹1,200.04 lakh receivable, security deposit write-offs, and non-compliance with Ind AS 115 and Ind AS 109. The audit qualifications span multiple fiscal years, indicating persistent issues in revenue recognition, impairment assessments, and interest accrual. The company restated figures related to a non-effective demerger, though the ongoing CIRP introduces uncertainty that prevents validation of these adjustments. Notably, no quantitative impact was disclosed for the restatement, and management could not estimate the financial effects of these issues. The filing underscores governance gaps, including lapses in director approvals and absence of independent verification by the Resolution Professional, raising concerns about oversight and compliance within the company’s financial reporting processes.

Peer Comparison

Not available

Risks & Concerns

Auditor’s disclaimer of opinion due to insufficient evidence on recoverability of ₹1,200.04 lakh receivable

Recurring audit qualifications in revenue recognition, impairment assessments, and interest accrual

Restatement related to non-effective demerger under CIRP proceedings

Governance lapses including director approval issues and lack of independent verification by Resolution Professional

Unresolved accounting discrepancies with no disclosed financial impact or management estimate

Quarterly Trend

Not available

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🔥 Also filed on 17 June 2026

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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