VAS Infrastructure Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹32.51 lakh compared to a net loss of ₹50.46 lakh in the previous year. The turnaround was driven by a significant increase in other income, which rose to ₹89.04 lakh from ₹12.11 lakh in FY25, while the company continued to record nil revenue from operations. Total expenses for the year decreased to ₹55.12 lakh from ₹61.45 lakh in the prior year.

The Resolution Professional Committee approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, following an order by the National Company Law Tribunal (NCLT) on March 11, 2024. Consequently, the management of the company's affairs is vested with Resolution Professional Ashok Kumar Golechha.

Satya Prakash Natani & Co., the statutory auditor, issued a qualified opinion on the financial results. The qualification arises due to the ongoing CIRP proceedings, which have led to uncertainties regarding the settlement of claims and the approval of a resolution plan. Additionally, the auditor noted that Canara Bank classified the company's loan account as "Fraud" on February 17, 2026, following an internal investigation. The consequential impact of this classification on the financial statements, including liabilities and provisioning, has not been ascertained.

The auditor further highlighted that certain books of account, supporting documents, and reconciliations relating to various balances such as trade receivables, investments, and borrowings are under verification. In the absence of adequate audit evidence, the auditor was unable to comment on the expected credit loss assessment of assets, the completeness of liabilities, and the appropriateness of the going concern assumption adopted in the financial statements. The impact of these matters on the financial results is presently not ascertainable.

Financial Performance for FY26

The company’s earnings per share (EPS) for the year improved to ₹0.21 from a loss of ₹0.33 in the previous year. The 31st Annual General Meeting of the members is scheduled to be held on September 23, 2026, through Video Conferencing or Other Audio-Visual Means.

VAS Infrastructure Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹32.51 lakh compared to a net loss of ₹50.46 lakh in the previous year. The turnaround was driven by a significant increase in other income, which rose to ₹89.04 lakh from ₹12.11 lakh in FY25. The Resolution Professional Committee approved the audited standalone financial results for the quarter and year ended March 31, 2026, on May 26, 2026.

For the quarter ended March 31, 2026, the company reported a net profit of ₹39.45 lakh, a sharp increase from the net loss of ₹10.03 lakh recorded in the corresponding quarter of the previous year. Total income for the quarter stood at ₹56.54 lakh, up from ₹4.52 lakh in Q4 FY25. The company reported zero revenue from operations for both the quarter and the full year, with other income serving as the sole source of revenue.

Financial Performance

The company's financial position reflects the ongoing Corporate Insolvency Resolution Process (CIRP). Equity share capital remained constant at ₹1,512.94 lakh, while other equity stood at a negative ₹27,435.31 lakh as of March 31, 2026. Total assets increased to ₹15,591.85 lakh from ₹14,059.66 lakh in the previous year, primarily due to a rise in cash and bank balances.

Auditor's Observations

Satya Prakash Natani & Co., the statutory auditors, issued a qualified opinion on the financial results. The audit report highlighted that Canara Bank classified the company's loan account as "Fraud" on February 17, 2026. Additionally, the auditors noted that certain books of account and supporting documents relating to various balances are under reconciliation or verification as part of the CIRP process.

Due to these factors, the auditors stated they were unable to comment on the consequential impact on the financial results, including expected credit loss assessments, the completeness of liabilities, and the going concern assumption. The impact of these matters on the accompanying financial statements is presently not ascertainable.

Corporate Governance

The 31st Annual General Meeting of the members of the company is scheduled to be held on September 23, 2026, through Video Conferencing or Other Audio-Visual Means. The trading window for dealing in the securities of the company was closed for Directors and Key Managerial Personnel from April 1, 2026, until 48 hours after the declaration of the financial results.