Integrated Filing — IndAS



General information about company
Scrip Code 533163
NSE Symbol ARSSINFRA
MSEI Symbol NOTLISTED
ISIN INE267I01010
Name of company ARSS INFRASTRUCTURE PROJECTS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 28-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment INFRASTRUCTURE / CONSTRUCTIONS
Start date and time of board meeting 28-May-2025   18:00:00
End date and time of board meeting 28-May-2025   20:25:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
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-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 253951000 1653880000
Other income 12943000 63369000
Total income 266894000 1717249000
2 Expenses
(a) Cost of materials consumed 187423000 379407000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -115751000 -163032000
(d) Employee benefit expense 39201000 122646000
(e) Finance costs 0 4523000
(f) Depreciation, depletion and amortisation expense 2443000 9783000
(f) Other Expenses
1 Cost of Goods/Services Sold 215259000 1284237000
2 Other Expenses 36977000 163464000
Total other expenses 252236000 1447701000
Total expenses 365552000 1801028000
3 Total profit before exceptional items and tax -98658000 -83779000
4 Exceptional items 0 0
5 Total profit before tax -98658000 -83779000
6 Tax expense
7 Current tax 0 0
8 Deferred tax 4331000 11367000
9 Total tax expenses 4331000 11367000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -102989000 -95146000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 7995000 17488000
16 Total profit (loss) for period -94994000 -77658000
17 Other comprehensive income net of taxes 0 0
18 Total Comprehensive Income for the period -94994000 -77658000
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 0 0
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 227380000 227380000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve -1922391000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -4.18 -3.42
Diluted earnings (loss) per share from continuing operations -4.18 -3.42
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 -4.18 -3.42
Diluted earnings (loss) per share from continuing and discontinued operations -4.18 -3.42
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) nSelected Explanatory Notes to the Consolidated Statement of Audited Financial Results for the Quarter and Year Ended March 31, 2025 n t t t t t n1. The above Audited Financial Results of the Company for the Quarter and Year ended March 31, 2025 have been approved by the Resolution Professional on May 28, 2025. The Statutory Auditor of the company has reviewed the said result. These results are being published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. n t t t t t n2. The above financial results of the Company have been prepared in accordance with Indian Accounting Standards (lnd AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended thereof. n t t t t t n3. A Corporate Insolvency Resolution Process(CIRP) has been initiated against the Company vide the order no. CP(IB) No. 34/CB/2021 dated November 30, 2021 of the Hon'ble National Company Law Tribunal , Cuttack Bench (NCLT) under the provisions of the Insolvency and Bankruptcy Code, 2016. Pursant to the order, The powers of the Board of Directors stand suspended and are vested with Mr. Uday Narayan Mitra (having Reg. No IBBI/IPA-001/IP-P00793/2017-18/11360), has been appointed as Resolution Professional (RP) by the NCLT. The Company continues to operate as going concern. Claims have been received by the IRP/RP and those claims have been processed as per the extant guidelines of IBC. n t t t t t n4. Based on the principles set out under Ind-AS 108 Operating Segments , the company operates in Construction Contract which is the only reportable segment. Accordingly , the company is operating in single segment. n t t t t t n5. As at 31st March 2025, the ARSS Group consolidation comprises of the following t t t t t ntSl. No.tName of the Entityt Relationship nt1tARSS Infrastructure Projects Limitedt Holding Company nt2tARSS Damoh Hirapur Tolls Private Limited Subsidiary Company nt3tARSS Developers Limitedt Associate Company nt4tATLANTA-ARSS JVtt Joint Venture nt5tARSS-SCPL JVtt Joint Venture nt6tARSS LGPPL JVtt Joint Venture nt7tARSS BDPL JVtt Joint Venture nt8tARSS THAKUR JVtt Joint Venture nt9tARSS SNKI JVtt Joint Venture nt10tARSS ROYAL JVtt Joint Venture nt11tSCPL ARSS JVtt Joint Venture nt12tARSS BMS JVtt Joint Venture nt13tARSS Technocom Priyashi Aashi JVt Joint Venture nt14tARSS SIPS JVtt Joint Venture nt15tARSS KKMPL JVtt Joint Venture nt16tARSS NTLLP JVtt Joint Venture n t t t t t n6. The financials of ARSS BMS JV, ARSS Technocom Priyashi Aashi JV, ARSS SIPS JV, ARSS KKMPL JV & ARSS NTLLP JV is prepared by the JV partner, the profit/loss for the current period is considered in the statement as certified by the management. n n7. The Company has continued to follow the same accounting policies in preparation of unaudited financial results for the quarter and year ended March 31, 2025 as followed in the previous financial year ended March 31,2024. n t t t t t n8. There was a search & seizure operation by Enforcement Directorate (ED) was conducted on 4th October, 2024 at the company's registered office for further enquiry in the matter of Pearl Agro Corporation Limited (PACL) which is disputed since long. n t t t t t n t t t t t n9. The figures of the Last quarters ended March 31,2025 and March 31,2024 are the balancing figures between audited figures in respect of the full financial years and the unaudited published years to date figures up to December 31 for respective years which were subjected to limited review by statutory auditors. n t t t t t n10. Comparative figures have been rearranged / regrouped wherever necessary. nttttt n11. The Hon' ble NCLT cuttack bench, Odisha has heard the Resolution Plan matter on dated 20th May 2025 and reserved the order. nttttt n12. The Serious Fraud Investigation Office has intiated investigation into the affairs of the company. n n13. The Claim of Rs. 6694.70 Lakhs raised by ARSS Damo Hirapur Tolls Pvt Ltd(Subsidary) is pending with MPRDC. nttttt nttttt nttttt nttttt nttttt ntttttFor ARSS Infrastructure Projects Ltd. nttttt(Board Suspended during CIRP) nttttt nttttt nttttt ntt nttttt nttttt nDate 28th May, 2025tt Rajesh Agarwal tUday Narayan Mitra nPlace Bhubaneswartt Managing Director t( Resolution Professional ) ntttt DIN 00217823 tIP Reg. No . IBBI/IPA-001/IP-P00793/2017-18/11360 nttttt n n



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 353902000
Capital work-in-progress 0
Investment property 0
Goodwill 0
Other intangible assets 0
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 41841000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 12830916000
Total non-current financial assets 12872757000
Deferred tax assets (net) 50312000
Other non-current assets 2566000
Total non-current assets 13279537000
2 Current assets
Inventories 663938000
Current financial asset
Current investments 0
Trade receivables, current 91358000
Cash and cash equivalents 195237000
Bank balance other than cash and cash equivalents 165780000
Loans, current 0
Other current financial assets 736313000
Total current financial assets 1188688000
Current tax assets (net) 219592000
Other current assets 443691000
Total current assets 2515909000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 15795446000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 227380000
Other equity -1922391000
Total equity attributable to owners of parent -1695011000
Non controlling interest 400000
Total equity -1694611000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities
Total non-current financial liabilities 0
Provisions, non-current 14641000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 14641000
Current liabilities
Current financial liabilities
Borrowings, current 16285662000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 382894000
Total Trade payable 382894000
Other current financial liabilities 312885000
Total current financial liabilities 16981441000
Other current liabilities 493975000
Provisions, current 0
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 17475416000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 17490057000
Total equity and liabilites 15795446000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
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-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
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



Other Comprehensive Income
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-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
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



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -83779000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 0
Adjustments for decrease (increase) in inventories -113474000
Adjustments for decrease (increase) in trade receivables, current -5150000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -85669000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 31870000
Adjustments for other financial assets, current 42732000
Adjustments for other bank balances 20444000
Adjustments for increase (decrease) in trade payables, current -212529000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 33449000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 9783000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 33271000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 0
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 17488000
Total adjustments for reconcile profit (loss) -227785000
Net cash flows from (used in) operations -311564000
Dividends received 0
Interest paid -4523000
Interest received 12081000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -294960000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures -17488000
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 3522000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received -12081000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -33091000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 0
Payments of lease liabilities 0
Dividends paid 0
Interest paid 4523000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -4523000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -332574000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -332574000
Cash and cash equivalents cash flow statement at beginning of period 527811000
Cash and cash equivalents cash flow statement at end of period 195237000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/S M A R S AND ASSOCIATES Yes 31-Jul-2026


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 1717249000 1717249000
2 Total Expenditure 1801028000 1801028000
3 Net Profit/(Loss) -77657000 -77657000
4 Earnings Per Share -3.42 -3.42
5 Total Assets 15795446000 15795446000
6 Total Liabilities 17490058000 17490058000
7 Net Worth -1695011000 -1695011000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)


Text Block
Textual Information(1) a) In absence of relevant records, Contract-wise surplus/loss of holding company has neither been ascertained nor recognized in compliance with Ind AS-115 Revenue from contract with customers.
Textual Information(2) NIL
Textual Information(3) NIL
Textual Information(4) For Qualification No-(a): During the work execution period there is escalation claim, revision of contact value, extension of completion period, etc due to which unpredictable variation in reliable estimation of revenue and cost. Also the allocation of combine Operating overhead, Head office overhead and Financial Cost is not possible due to combine use or high swapping of resources, size of the Contracts. Hence financial implication of the qualification is not quantifiable.
Textual Information(5) As per our qualifications.


Signatories detail
Name of CEO / Managing director Uday Narayan Mitra
Name of CFO Soumendra Keshari Pattanaik
Name of audit committee chairman Uday Narayan Mitra
Name of statutory auditor Vipul Kumar Gupta
Name of other signatory, if any, with designation
Place Bhubaneswar
Date 28-May-2025