Redmax Footwears Limited (formerly Viaan Industries Limited) reported a narrowed standalone loss of ₹2.68 lakh for the first quarter of FY27, ending June 30, 2026. This represents a significant improvement from the ₹5.66 lakh loss posted in the corresponding quarter of FY26, driven by a sharp reduction in operating expenses despite continued zero revenue from operations.

The Delhi-based footwear manufacturer’s Board of Directors approved the unaudited financial results during a meeting held on August 12, 2026. The company also reconstituted its Nomination and Remuneration Committee, effective immediately.

Financial Performance

The company logged zero revenue from operations for the quarter, marking the third consecutive quarter without operational income. Total expenses fell to ₹2.68 lakh from ₹5.66 lakh in Q1FY26, a decline of nearly 53%. Employee benefit expenses remained flat at ₹0.60 lakh, while other expenses dropped significantly to ₹1.90 lakh from ₹5.05 lakh in the prior year period.

For the full year ended March 31, 2026, the company reported a total loss of ₹16.97 lakh. The loss per share stood at ₹(0.03) for the current quarter, improving from ₹(0.06) in Q1FY26.

What the Numbers Show

The divergence between revenue and expense trends highlights the company's minimal operational footprint. With revenue at zero and total expenses comprising only employee benefits (₹0.60 lakh) and finance costs (₹0.18 lakh), the remaining ₹1.90 lakh in "other expenses" suggests fixed administrative overheads are the primary driver of the quarterly burn rate. The 53% drop in these other expenses year-on-year indicates successful cost containment measures, though the absence of revenue means the company is not yet generating cash flow from core activities.

Regulatory and Corporate Updates

Statutory auditors Ashwani & Associates issued an unmodified limited review report on the financial statements. However, the report included an "Other Matter" paragraph noting that trading of the company’s equity shares is temporarily restricted on the BSE under Graded Surveillance Measures (GSM) Stage 3 due to procedural reasons.

The company confirmed that its name change from Viaan Industries Limited to Redmax Footwears Limited was approved by the Ministry of Corporate Affairs via letter dated May 5, 2025, and is currently in process with the stock exchange.

Redmax Footwears Limited has announced that its board of directors will meet on Thursday, May 28, 2026, to discuss and approve the company's financial performance. The meeting is scheduled to take place at 5:00 P.M. at House No-J-147, Ashok Vihar, North West Delhi, Delhi-110052.

Agenda for the Meeting

The primary item on the agenda is the consideration and approval of the audited financial results of the company for the quarter and year ended March 31, 2026. The board will also address any other matters with the permission of the Chair and the consent of the majority of directors.

Corporate Update

The company also disclosed a significant change in its corporate identity. The name of the company was changed from Viaan Industries Limited to Redmax Footwears Limited via a Ministry of Corporate Affairs letter dated May 5, 2025. Redmax Footwears Limited is currently in the process of effecting this name change with the stock exchange.

Meeting Details