| Scrip Code | 500023 |
|---|---|
| NSE Symbol | ASIANHOTNR |
| MSEI Symbol | NOTLISTED |
| ISIN | INE363A01022 |
| Name of company | ASIAN HOTELS (NORTH) LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 13-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 06-02-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | Hospitality/Hotel Business |
| Start date and time of board meeting | 13-02-2026 17:30:00 |
| End date and time of board meeting | 13-02-2026 18:00:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | No |
| No. of times funds raised during the quarter | |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | Yes |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 9,098.44 | 23,817.16 | |
| Other income | (0.23) | 762.00 | |
| Total income | 9,098.21 | 24,579.16 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 943.64 | 2,538.83 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 2,166.40 | 6,318.42 |
| (e) | Finance costs | 2,125.02 | 5,837.26 |
| (f) | Depreciation, depletion and amortisation expense | 452.02 | 1,373.72 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 5,030.87 | 12,782.19 |
| Total other expenses | 5,030.87 | 12,782.19 | |
| Total expenses | 10,717.95 | 28,850.42 | |
| 3 | Total profit before exceptional items and tax | (1,619.74) | (4,271.26) |
| 4 | Exceptional items | (4,027.63) | (9,701.65) |
| 5 | Total profit before tax | (5,647.37) | (13,972.91) |
| 6 | Tax expense | ||
| 7 | Current tax | 0.00 | 0.00 |
| 8 | Deferred tax | 0.00 | (617.36) |
| 9 | Total tax expenses | 0.00 | (617.36) |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | (5,647.37) | (13,355.55) |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | (5,647.37) | (13,355.55) |
| 17 | Other comprehensive income net of taxes | 0.00 | 0.00 |
| 18 | Total Comprehensive Income for the period | (5,647.37) | (13,355.55) |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 1,945.33 | 1,945.33 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -29.03 | -68.65 | |
| Diluted earnings (loss) per share from continuing operations | -29.03 | -68.65 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | -29.03 | -68.65 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -29.03 | -68.65 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | NOTES: 1 The unaudited financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with the relevant rules thereunder and in terms of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 2 The unaudited financial results of the Company were reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at their respective meetings held on February 13, 2026. The statutory auditors have expressed an unmodified review conclusion on these results. 3 The Company operates only in one major reportable segment, i.e. Hospitality / Hotel Business. Other business segments i.e. power generation operations and Real Estate operations are governed by different set of risks and returns. However, the respective revenue streams and net profit / (loss) related to those segments are not material for the purpose of separate disclosure as a reportable segment. 4 Status of Borrowings The Company has defaulted on the repayment of principal as well as interest on borrowings, aggregating to INR 59,326.46 lakhs and INR 8,137.59 lakhs respectively, outstanding as of 31 December 2025. Additionally, the Company has also breached covenant associated with aforementioned borrowings. Due to these defaults, the Company has recognised interest/penal charges amounting to INR 4,027.63 lakhs and INR 9,701.65 lakhs (penal charges amounting to INR 14,904.56 lakhs, net of reversal of interest amounting to INR 5,202.91 lakhs) for the quarter and year to date end respectively , which has been disclosed as an exceptional item in the financial results for the quarter and year to date ended 31 December 2025. During the quarter ended December 31, 2025, the outstanding loan facility aggregating to INR 10,691.27 lakhs (comprising principal of INR 9,576.80 lakhs and accrued interest of INR 1,114.47 lakhs) together with all rights and accrued interest thereon has been assigned to JC Flowers Asset Reconstruction Private Limited. Pursuant to such assignment, effective November 12, 2025, JC Flowers Asset Reconstruction Private Limited has become the new lender. During the quarter, the Company convened an Extra-Ordinary General Meeting on 08 November 2025 to consider and approve a fresh issue of equity shares on a preferential basis amounting to INR 76,494.00 lakhs. Subsequent to the quarter end, the company has issued 2,31,80,000 equity shares at INR 330 per share. Accordingly company has received INR 76,494.00 lakhs and such fund has been utilised for the purpose of repayment of the aforementioned entire outstanding borrowings (including interest). Consequently, the default with respect to aforesaid borrowings stands fully resolved. 5 Current Status of Business Operations and Ability to Continuity as Going Concern The Company has incurred a loss before exceptional items and tax of INR 1,619.74 lakhs for the quarter ended 31 December 2025 and INR 4,271.26 lakhs for the nine-month period ended 31 December 2025. Further, as at 31 December 2025, the Company’s current liabilities exceed its current assets. Notwithstanding this, the financial results have been prepared on a going concern basis. The management has assessed the Company’s ability to continue as a going concern and is of the view that the significant improvement in operating performance during the recent period, along with various cost optimization measures undertaken and being implemented, will support improved profitability going forward. Further, the Company’s liquidity position has strengthened pursuant to equity and debt issuances completed subsequent to the quarter end, along with repayment and restructuring of certain borrowings. 6 During the year ended March 31, 2025, the Company has done One Time Settlement (OTS) with Bank of Maharashtra (BOM), J.C. Flowers Asset Reconstruction Private Limited (JCF), Standard Capital Markets Ltd.(SCML), Punjab National Bank (PNB) and VSJ Investments Private Limited (VSJ). Due to such settlement, there is write back of interest as well as Principal on these loans amounting to INR 11,654.00 lakhs for the quarter and year to date ended December 31, 2024 and INR 30,120.56 lakhs for the year ended March 31, 2025, which was disclosed as exceptional item. 7 On November 21, 2025, the Government of India notified four Labour Codes – the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the New Labour Codes) – consolidating 29 existing labour laws, which became effective immediately. The ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The incremental impact of these changes, assessed by the Company, on the basis of the information available, consistent with the guidance provided by the Institute of Chartered Accountants of India, is not material in the financial results of the Company for the quarter and nine months ended December 31, 2025. Once Central / State Rules are notified by the Government on all aspects of the Codes, the Company will evaluate final impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment. 8 The Company is not required to present consolidated financial results for the quarter and year to date ended 31 December 2025, considering: i) the voluntary liquidation of a foreign subsidiaries, namely Fineline Hospitality & Consultancy Pte Ltd, Mauritius and Lexon Hotels Venture Ltd., Mauritius, resulting in loss of control; and ii) the incorporation of a new subsidiary, namely AHNL Realty Private Limited, where remittance towards acquisition of shares is pending, resulting in absence of control. |
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| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| Total Amount of items that will not be reclassified to profit and loss | |||
| 2 | Income tax relating to items that will not be reclassified to profit or loss | ||
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | ||
| 5 | Total Other comprehensive income | ||
| Sr. No. | Particulars | Amount | Remarks |
| 1. | Loans / revolving facilities like cash credit from banks / financial institutions | ||
| A | Total amount outstanding as on date | 67,464.05 | The Company has defaulted on the repayment of principal as well as interest on borrowings, aggregating to INR 59,326.46 lakhs and INR 8,137.59 lakhs respectively, outstanding as of 31 December 2025. Additionally, please refer the Notes. |
|---|---|---|---|
| B | Of the total amount outstanding, amount of default as on date | 67,464.05 | |
| 2. | Unlisted debt securities i.e. NCDs and NCRPS | ||
| A | Total amount outstanding as on date | 0.00 | |
| B | Of the total amount outstanding, amount of default as on date | 0.00 | |
| 3. | Total financial indebtedness of the listed entity including short-term and long-term debt | 0.00 | |