* The Board of Directors of Alps Industries Limited met on Friday, November 14, 2025, under the chairmanship of Mr. Hemant Sharma, Resolution Professional (RP). * The board considered and approved the unaudited financial results, including cash flow, related party statements, and statements of assets and liabilities, for the quarter and half-year ended September 30, 2025 (Standalone and Consolidated). * The Independent Auditor's Review Report on these results included a qualified conclusion. * The key qualification states that the Company has not provided for a liability of ₹2,21,948.82 lakh (₹2,219.49 crore) towards interest and a portion of a principal loan. This liability was previously waived but has since been revoked by its consented lenders. * If this liability were provided, the standalone net loss for the quarter ended September 30, 2025, would have been ₹2,23,658.53 lakh (₹2,236.59 crore) instead of the reported ₹1,709.71 lakh (₹17.10 crore). Similarly, the standalone net loss for the half-year ended September 30, 2025, would have been ₹2,25,351.90 lakh (₹2,253.52 crore) instead of ₹3,403.08 lakh (₹34.03 crore). * Consequently, the accumulated loss and loan liabilities at September 30, 2025, would have been higher by ₹2,21,948.82 lakh (₹2,219.49 crore). * The financial statements are prepared on a "going concern" assumption, relying on the implementation of an approved resolution plan. This plan was approved by the Hon'ble National Company Law Tribunal (NCLT) on November 4, 2025, and is currently under implementation. * The company is undergoing a Corporate Insolvency Resolution Process (CIRP), initiated by an NCLT order dated September 13, 2024.
