Summary of Key Information:

Reporting Period: Quarter and Year ended 31st March 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Audited Financial Results under Regulation 33 of SEBI (LODR) Regulations, 2015

Audit Opinion:

Qualified Opinion issued by Statutory Auditors A D V AND CO LLP

Key Financial Highlights [₹ in Lakhs]:

Standalone Results:

Income Statement:

  • Revenue from Operations: FY26: 14,579.28 | FY25: 16,538.80 (Decrease of 11.85% YoY)
  • Total Income: FY26: 15,326.08 | FY25: 17,172.49 (Decrease of 10.75% YoY)
  • Net Profit/(Loss) before Exceptional Items and Tax: FY26: (11,847.24) | FY25: (835.69)
  • Exceptional Items: FY26: 3,43,413.06 | FY25: Nil
  • Net Profit/(Loss) after Tax: FY26: (3,55,498.04) | FY25: (949.37)
  • Total Comprehensive Income: FY26: (3,55,498.04) | FY25: (949.37)

Balance Sheet:

  • Equity Share Capital: FY26: 9,011.85 | FY25: 2,273.80
  • Other Equity: FY26: 86,956.30 | FY25: (18,652.35)
  • Earnings per share (Basic & Diluted): FY26: (394.48) | FY25: (4.18)

Exceptional Items Breakdown:

  • Extinguishment of Operational Creditors: (5,039.46)
  • Interest expense payable to Financial Creditors: 2,23,724.03
  • Liability relating to Financial Creditors not recorded earlier: 1,04,286.74
  • Provision for Arbitration claim written off: 91,273.71
  • Arbitration claim raised during the year: (70,831.96)
  • Net Exceptional Loss: 3,43,413.06

Consolidated Results:

Income Statement:

  • Revenue from Operations: FY26: 14,579.28 | FY25: 16,538.80 (Decrease of 11.85% YoY)
  • Total Income: FY26: 15,326.08 | FY25: 17,172.49 (Decrease of 10.75% YoY)
  • Net Profit/(Loss) before Exceptional Items and Tax: FY26: (11,853.54) | FY25: (837.79)
  • Exceptional Items: FY26: 3,43,413.06 | FY25: Nil
  • Net Profit/(Loss) after Tax: FY26: (3,55,357.47) | FY25: (776.57)
  • Total Comprehensive Income: FY26: (3,55,357.47) | FY25: (776.57)

Balance Sheet:

  • Equity Share Capital: FY26: 9,011.85 | FY25: 2,273.80
  • Other Equity: FY26: 86,525.30 | FY25: (19,223.91)
  • Non-Controlling Interest: FY26: 4.00 | FY25: Not specified
  • Earnings per share (Basic & Diluted): FY26: (394.32) | FY25: (3.42)

Segment-wise Performance:

Based on Ind AS 108 "Operating Segments", the Company operates in Construction Contract which is the only reportable segment.

Corporate Actions:

  • Extinguishment of 1,06,19,468 equity shares of INR 10 each held by erstwhile promoters
  • Issue of 7.5 crore equity shares to settle unsustainable debt (15,00,000 to Assenting Financial Creditors and 7,35,00,000 to AIF assigned by SRA)
  • Fresh equity infusion of INR 3 crore by SRA for 30 lakh equity shares allotted on 29.09.2025
  • No dividend declared

Other Significant Information:

  • The implementation of Resolution Plan resulted in: settlement of financial creditors' admitted claim of ₹4,940.14 crores assigned to SRA with cash payment of ₹207.69 crore; settlement of operational creditors for ₹0.47 crores; extinguishment of all contingent liabilities and government dues
  • The company has identified certain provisions in the approved Resolution Plan requiring amendments and is filing applications before NCLT seeking amendments within stipulated period
  • Figures for comparative period (FY25) were prepared during CIRP when powers were vested with Resolution Professional, making strict comparability difficult
  • Impact of new labour codes: Provided ₹49.45 lakhs for gratuity for FY25-26

Entities Included in Consolidation:

The consolidation includes:

  • Subsidiary: ARSS Damoh Hirapur Tolls Private Limited
  • Associate: ARSS Developers Limited
  • Joint Ventures: Atlanta-ARSS JV, ARSS-SCPL JV, ARSS LGPPL JV, ARSS BDPL JV, ARSS Thakur JV, ARSS SNKI JV, ARSS Raval JV, SCPL-ARSS JV, ARSS-SIPS JV, ARSS Technocom Priyashi Aashi JV, ARSS-BMS JV, ARSS-KKMPL JV, ARSS-NTLLP JV

Statement of Assets and Liabilities [Standalone, ₹ in Lakhs]:

As at 31st March 2026:

  • Total Assets: 1,27,731.05
  • Total Equity and Liabilities: 1,27,731.05
  • Equity Share Capital: 9,011.85
  • Other Equity: 86,956.30
  • Borrowings (Non-current): 25,812.22
  • Borrowings (Current): 495.55
  • Trade Payables (other than MSME): 2,035.12
  • Other Financial Liabilities: 2,414.36
  • Other Current Liabilities: 1,005.65

Statement of Cash Flows [Standalone, ₹ in Lakhs]:

For Year Ended 31st March 2026:

  • Net Cash from Operating Activities: (2,876.77)
  • Net Cash from Investing Activities: (114.18)
  • Net Cash from Financing Activities: 2,189.05
  • Net decrease in cash and cash equivalents: (331.81)
  • Cash and cash equivalents at year end: 1,620.10

Impact of Audit Qualifications:

The management provided a statement showing adjusted figures if audit qualifications were applied:

  • Net Profit/(Loss) would be: (4,25207.93) instead of (3,55498.04)
  • EPS would be: (471.83) instead of (394.48)
  • Total Assets would be: 56,899.09 instead of 1,27,731.05
  • Net Worth would be: 26,258.95 instead of 95,968.15