Shristi Infrastructure Development Corporation Ltd — Results, 28-05-2025: Result

Shristi Infrastructure Development Corporation Limited has announced a board meeting to approve the financial results for the quarter and year ended March 31, 2025. The auditors expressed a qualified opinion primarily due to non-provisioning and default of interest expenses totaling around Rs. 98.9 Cr on borrowings from Srei Equipment Finance Limited, leading to understatement of finance costs and overstatement of profits. The company’s net worth has been fully eroded with consecutive losses over three years, raising material uncertainty about its ability to continue as a going concern. Additionally, the company’s subsidiary, Sarga Udaipur Hotels & Resorts Pvt Ltd, is under Corporate Insolvency Resolution Process, impacting asset recoverability, which remains unascertainable. Arbitration-related liabilities and corporate guarantees for former subsidiaries add further financial strain. Certain balances are yet to be reconciled, potentially affecting reported figures.