Whalesbook
Arshiya Limited's standalone net loss for FY25 was ₹1094.46 crore. The company's total default amount is ₹193.24 crore.
Arshiya Limited held its 43rd and 44th Annual General Meetings (AGMs) on March 27, 2026, via video conference. Shareholders overwhelmingly approved all resolutions, including standalone financial statements for FY 2023-24 and FY 2024-25. M/s Loveneet Handa and Associates were appointed as Secretarial Auditors for a five-year term starting April 1, 2025. The company disclosed it cannot prepare consolidated financial statements due to the ongoing Corporate Insolvency Resolution Process (CIRP) and a lack of data from its subsidiaries.
Why it matters
These AGMs fulfill procedural requirements and maintain shareholder engagement while the company undergoes significant restructuring.
The inability to prepare consolidated financials due to CIRP highlights ongoing operational and data challenges, which affect the transparency of the company's overall financial situation.
The backstory
Arshiya Limited, a logistics and supply chain provider, entered CIRP on April 23, 2024. This followed an application by Punjab National Bank over an alleged default of about ₹193.24 crore. Arshiya had acted as a corporate guarantor for its subsidiary, Arshiya Northern FTWZ Limited, which defaulted on its loan obligations.
The company's recent standalone financial performance shows severe stress. For FY25, it reported a net loss of ₹1094.46 crore on revenue of ₹14.95 crore. As of March 31, 2025, its standalone current ratio was 0.13.
What changes now
Shareholders have formally adopted the standalone financial results for the past two years. A new Secretarial Auditor firm was appointed to ensure compliance during the insolvency period.
The company continues to operate under the Resolution Professional's supervision, with the Board of Directors' powers suspended.
Risks to watch
The ongoing inability to prepare consolidated financial statements is a significant risk, preventing a complete view of the company's financial health.
The final outcome of the Corporate Insolvency Resolution Process, including the approval of a resolution plan, will shape the company's future.
Peer comparison
Arshiya operates in a competitive logistics sector alongside players like Transport Corporation of India Ltd., Allcargo Logistics Ltd., Mahindra Logistics Ltd., and Snowman Logistics Ltd. While these peers generally exhibit healthier financial metrics and operational stability, Arshiya is navigating severe financial distress and insolvency proceedings, making direct comparison challenging.
Key Financial Metrics
- Standalone Net Loss (FY25): ₹1094.46 crore
- Standalone Current Ratio (as of March 31, 2025): 0.13
- Standalone Debt-Equity Ratio (as of March 31, 2025): 4.35
What to track next
Monitor the progress of the Corporate Insolvency Resolution Process (CIRP) and any developments regarding resolution plans.
Observe efforts to resolve data collection issues for preparing consolidated financial statements.
Track any further communication from the Resolution Professional regarding operational updates and compliance.