The company, known for its expertise in infrastructure development and construction projects, has recently made headlines in the market. Its stock witnessed a sharp rise, hitting the 5% upper circuit, following the approval of its resolution plan by the National Company Law Tribunal (NCLT). This development has sparked fresh investor interest.
ARSS Infrastructure Projects Limited’s stock, with a market capitalisation of Rs. 123 crores, rose to Rs. 54.27, hitting the intraday upper circuit, up 5 percent from its previous closing price of Rs. 51.69. Furthermore, the stock over the past year has given a return of 185.6 percent.
What happened
The National Company Law Tribunal (NCLT) has approved the resolution plan of Ocean Capital Market Limited (OCML). The plan involves Rs. 208.16 crore infusion, including Rs. 203.25 crore upfront for financial creditors, with debt restructuring through conversion of part debt into equity.
Post-restructuring, OCML and its nominees will hold 85.08% equity in the company, while existing promoters’ shares will be cancelled. OCML will become the new majority shareholder, with a three-year timeframe granted by SEBI to meet 25% minimum public shareholding norms.
OCML, incorporated in 1996, is promoted by entrepreneur Shri Dipti Ranjan Patnaik and Ms. Indrani Patnaik, among India’s largest iron ore mine owners. With a cumulative net worth of about Rs. 4,000 crore, they have successfully built and managed multiple profitable businesses.
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Q1 Financial Highlight
In Q1FY26, revenue stood at 19 crore, a steep decline of 78 percent year-on-year (against 87 crore in Q1FY25) and down 24 percent quarter-on-quarter (against 25 crore in Q4FY25). Over the last three years, sales have contracted at a negative 17 percent CAGR, reflecting continued top-line weakness.
Profit for Q1FY26 was 116 crore loss compared with 1 crore profit in Q1FY25 and 10 crore loss in Q4FY25, marking a significant deterioration both year-on-year and quarter-on-quarter. While the company has delivered a 24 percent CAGR in profit over three years, the latest results highlight sharp volatility and mounting operational pressures.
Written By Fazal Ul Vahab C H
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